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UHtr~at Oovttt~ter~tra. Borrower anti Leader covenant and agroe as iolbws:
Z. rgmwt of hMeyel ttN 1taNterl. Borrower shall promptly pay when due ibe principal of and inter+mt on the
irtdebtedneae evidettoed by the Note, prepayment and bee charge: as provided in the Nora, artd tlrs principal of std interest
oa asy Ptttwe Advat>cas strcttred by this Mortgage.
L Ftuui flee 7laaas tend iasttr~rsre. Subject to applicable law ~x to a written waiver by Lender. Borrower shall pay
to bender on the day ttaoathly installments of principal and interc~t arc paysbk under the Note. until the Note is paid in full,
a stem (herein "Ftatda'~ equal to one-twelfth of the yearly taz~'. and assessment which aoay attain priority over this
Mortgage, turd ground rent on the Property. it any, plus orte~twelGh of yearly-premium itWallntents for haurd insurance.
plus one-trrdith of yearly premium installments for mortgage insurance, if any. all ss reasonably estimated initially and feoan
time to time by Leader oa the basis of assessments and hills and reasonable estimates tlteteof.
The Funds shall be bald in an institution the deposits or accounts of which are inwrcd or guaranteed by a Federal of
state agency (including Lender if Lender is such an institution). I~nder shall apply the Funds to pay said taxes. asseaments.
iasuraooe premiums and grottrd rents. lender may not charge for so holding and applying the Funds, analyzing said account.
or vteifyiagartd compiling said tuaessment and bilk, unless Lender pays Borrower interest on the Funds and applicable law
permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of the
Mortgage that interest on the Ftrtds shall be paid to Borrower. and unless such agreement a made or applicable law
requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
sbaU give to 8orrosrer, without charge, an annual aoootrnting of the Funds showing credits and debits to the Funds and the
purpose for which eseb debit to the Funds was made. The Funds arc pledged as additional security for the sutras stxured
by this Mortgage. .
)!f the amount o[ the Funds bdd by Lender. together with the future monthly installments of Funds payable prior to
t~ dtst dates of tares. artt~tr, it~ttrartt'e premiunss and frround rents, shall exceed the amount required to pay said taxes.
asbaameAts, insurance prnmituns and ground rents as they tall due, such excess shall be, at Borrower's option. either
promptly repaid to Borrower a credited to Borrower on monthly installments of Funds. If the amount of the Funds
held br Lends' shag not be stslBcisat to pity taxes. asxssnacnts. insurance pranitura and ground rents as they fall due,
Borrower shall pay to Leader any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Leader to Borrower requesting payment thsrcaf.
Upon paytteart in full of all strtm secured by this Mortgage, Lender :hall promptly retuad to Borrower any Funds
Geld br Leader. If under paragraph I8 hereof the Property is sold or the Progeny u< otherwise acquired by Lender. Leader
shall apply. no la/er than immediately prior to the sale of the Property or its acquisition by Lender, any Funds hela •bv
Lender at the time of applicatiot :s a cr+edet against the sums srxured by this Mortgage. -
3. A~Yeatiaa at IrgneMs. Unless applicable law provides otherwise, elf payment received by Lender under' the
Note and paragraphs 1 and 2 hereof sha0 be applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof. rhea to interest- payable on the Note, then to the principal of the Note. and then to interest and
principal oe say Future Advances.
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4. Crarges; Bens. Borrower shall pay all taxes, assessment and other c~rarges, fines and rmpositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold pay~merrlslbr~gr'~trnd rents, if any. in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower makipg'payslrtttt.iwbsA due. directly to the
payee thereof. Borrower shall promptly furnish to Lender sll notices of amount due uadeq this p~aguprkr and is the event
Borrower shall make payment directly, Borrower shelf promptly furnish to Lender receipts evtdeacing such payments.
Borrower shall promptly discharge any lien which has priority over this Mortgage; provided. that Borrwver shall not be
required to discharge any such lien so brag as Borrower shall agree in writing to the payment of the obligation secur+cd by
such lieu io a manner scoeptabk to [.ender, or shall in good faith contest such lien by, or defend enforcement of such list ia,
lepl prooeedirrgs which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
S. fAaari Iawraaee. Borrower shall keep the improvements now existing or hereafter erected on the Property- insured
sgainst loss by fire, hazards included within tl?e term "extended coverage", and such other hazards as Lender may require
sad in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
such coreragt exceed that amount of coverage required to pay the sums secured by this Mortgage.
' The inwrartce carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided.
that such approval shall not be unreasonably withheld. All premiums on insurance policies sf?a1t be paid in the manner
provided under paragraph 2 hereof' or. if not paid in such manner, by Borrower making payment, when due, directly to the
imrrrance curler.
All inwraace policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
clatue in favor of and in form acceptable to Lender. Lender shaft have the right to hold the policies and renewals thereof.
std Borrower shall promptly furnish to Leader all renewal notices and all receipts of paid premiums. In the event of loss,
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to ratoration or repair of
the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would
be impaired, the insurance proceeds shall 6e applied to the sums secured by this Mortgage, with the excess. if any. paid
to Borrower. If the Property is abandoned by Borrower, or it Borrower fails to respond to !.ender within 30 days from the
date twtice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefit, Lender
is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property '
or to the sums secured by this Mortgage.
Ualess Linder and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such irtttallmeot. If under puagraph Ig hereof the Proferty is acyuired by Lender, elf right. title and interest of Borrower
in aced to any huurance policies and is and to the proceeds thereof resulting from damage to tlx Property prior to tltc sale
or acquisition shall pass to Lender to the extent of the sums secured ~by this Mortgage immediately prior to such sale or -
aoquisition.
f. fh+eservatioa sad Malateoaace of Property; Leasebold~ Condomiaiuau; Planaed Unit Derdopsneab. Borrower
shall fioep the Property is good repair sad shall sot comrpit waste or permit impairment or deterioration of the Property
and steal) comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrowers obligations under the declaration
& conerunts creating or governing the condominium or planned unit development, the by-laws and regulations of the
condominium or planood unit development. and conuituent documents. If a condominium or planned unit development
rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
were a part hereof.
7. rrutectios of Lender's Security. )f Borrower fails t~ perform the covenants and agreement contained in this
Mortgage, or it any action or proceeding is rommcnced which materially affects Lender's interest in the Property,
including, but not limited to, eminent domain. insolvency, code enforcement, or arrangements qr p atesdirtht #nvolving a _
bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may- make such adlfe~rarice~, disburse such
-wms and take such action az is naessary to protect Lenders interest, including. but not limited to, disbursement of
- reasonable attorney's tees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
condition. of making the loan secured by this Mortgage, Born:wcr sh.?II pay the premiums required to maintain such f
insurance in effect until such time az the reyrrirement for such insurance terminates in accordance with-Borrowers and i
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