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Uwtrortn[ OovarrAans. Borrower sad tender covenant and agree ss follows:
L ~M eft Ireitlel~al att1 ItMenM. Borrower shall promptly pay when due the principal of and intteat on the
indebtedness evidenced by the Note, prepayment and late clwrges as provided in the Note. arrd the principal of and interest
oa any Future Advances sttcuced by this Mortgage.
3. lrrais ter 7lsrtea atsi Iw¦rtree. Subject to rtpplicabk law nr to a written waiver by Lender. Borrower shag pay
to Fender on the day monthly itrstalhnents of principal and interc~t arc. paysbb under the Note. until the Note a paid in fuq,
a swn tltar+ein "Ftnads'y equal to ono-twelfth of the yearly taxs~a and assessments which may attain priority over this
Mortgage. sad ground teats oa the Property. it any, plus one-twelfth of yearly premium installments for hazard iraurance,
plus otrttwelfth ot~yearly premium installments for mortgage irtutrancc. it any. all as reasonably estimated initially and from
limo to time by Leader oa the basis of assessments and hills and reasonable estimates thereof.
7be Flrrtd: shall be held in an institution the deposip or accounts of which are irtstrred or gwraateed by a Federal olr i
state agency (inchrding Leader i[ Lender is such an institution). Lender shall apply the Frrrtds to pay said taxes. asse:smarts,
insurance premiums and ground yenta. Lender may not charge for so holding and applying the Fends. analysing-said account.
or verifying-and compiling said assessments and bilk, unless Lender pays Borrower interest oa the Funds and applicable law
permits Leader to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
Mortgage that interest oa the Funds shall be paid to Borrower, and unless such agreement a mode or applicable law
requira such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
shall give to Borrower, without charge, an annwl accounting of the Funds showing credits and debits to the Funds and the ~
purpose~or which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured ~
If the amount o[ the Funds heW by Lender, together with the future monthly installments of Funds payable prior to
the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount requited to pay said taxes.
assasmeats, iruuranoe ptemiutra and ground rents as they tall due. such excess shall. be, at Borrower's options either '
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds i
held by Leadar shall not be attt6cieat to pay taxes. asseessrrtertts. insurance premiums and ground rents ss they fall due.
Borrower sbap pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Leaider to Borrower requesting payment thereof.
Upoto payment is full of ap sums secured by this Mortgage, lender shall promptly refund to Borrower any Funds
held by Lender. It under paragraph 18 hereof the Property is sold or the Property rs otherwise acquired by Lender, Lender
shall spply. no later than immediately prior to the oak of .the Property or it: acquisition by Lender, any Funds heW by
Leader at the lima of application as a credit against the :urns secured by this Mortgage.
3. A~licatiars et Unless applicable law provides otherwise, all payments received by _Lender under the
Note sod. paragraphs 1 and 2 hereof shall be applied by Lender first in payment•of amounts payable to Lender by Borrower
under paragraph 2 hereof. then to interest payable on the Note, then to the principal of the Note. and then to interest and
principal on any Future Advances.
1. Crrtu~ Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, it any. in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due. directly to the
payee thereof. Borrower shall promptly tarnish to Lender all notices of amounts due under this paragraph, sad is the event
Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
Borrower shall promptly discharge sny lien which has priority over this Mortgage; provided. that Borrower shall not be
.required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
such lien in a manner acceptable to Lender. or shall in good faith contest such lien by, or defend enforcement of such lien iq
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
S. Illarard I~atrra~ee. Borrower shall keep the improvements now existing or hereafter erected on the Property inwrod
against loos by fire, hazards included within the 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 rnverage 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 shall 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
j insurance-carrier.
All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
i clause in favor of and in form acceptable to Lender. Lender shall have the right to hoW the policies and renewals thereof,
and Borrower shall promptly furnish to Lender all .renewal notices and all receipts of paid premiums. In the event of loss.
Borrower shall give prompt notice to tht 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 restoration or repair of
the Property damaged, provided such rcstoratwn 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 it the security of this Mortgage would
be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
to Borrower. If the Property is abandoned by Borrower, or if Borrower tails to respond to Lender wiUun 30 days from'the
date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender
is authorized to collect and apply the insurance proceeds at !_ender's option either to restoration or repair of the Property
or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal sh311 not extend
or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
such installments. If under paragraph 18 hereof the Proteny is acquired by Lender, all right, title and interest of Borrower
in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to ttrc sale
or acquisition shall pass to Lender to the eaterit of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
~ f. hesenation and Maiatenaoce of Property; Leaseholds; Condomiaiams; Planned Unit 1Developraewls. Borrower
shall keep the Property in good repair and shall not commit yvaue or permit impairment or deterioration of the Property ;
sad shall comply with the provisions of any lease if this Mortgage is on a leasehold. It this Mortgage a on a unit in a t
condominium or a planned unit development, Borrower shall perform all of Borrowers obligations under the declaration
or covenants creating or governing tbe condominium or planned unit development. the by-laws and regulations of the
condominium or planned unit development. and constituent 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. Protectios of Lender's Secarfty. If Borrower fails to perform the covenants and agreements contained in this
~ Mortgage, or if any action or proceeding is commenced which materially aBects tender's interest in the Property,
including, but not limited to, eminent domain. insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then lender at.l.ender's option, upon notice to Borrower, may make such appearances, disburse such
sums and take such scram as is. pecessary to protect Lender's interest, including, but not limited to, disbursement of
reasonable attorney's (et: and entry upon the Property to make repairs. It I~nder required mortgage insurance as a
.condition of making the loan secured by this Mortgage, Borrower shat) pay the premiums required to maintain such
insurance in eBect until such time as the requirement for such insurance terminates in accordance with Borrowers and
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