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Y~~~U t~~~ Uwtrdt?t OovaHa[tts. borrower and Lawler covenant and agree ss follows: 1~ lsbtitsat sg hinelwl ttttN ittMrssl. borrower shall promptly p.y when due the prakipal of toad intterag oa tits indabbednaa svideaoed by tM Note, prapaymeat and Tate charges as provided in the Nots, and tM principal of and iatereq oa say Palate Advaetas secured by this Mortgage. l~wis f3ar'1ltttpa tttatl Irtertra¦~w Subject to applicable law .x to a written waiver by Fender. borrower shall pay to Lender oa the day monthly itWalWtertts of principal and interest arc payable under the Note. until the Note is paid in toll. a stem (httrein "Ftutds'~ equal to note-twelfth of the yearly tax~~ sod asstwtrtertts which msy attain priority over this Mortgage, and Around rents oa tbs Property. it any, plus sae-twelfth of yearili premium aatallmeats for hazard inwranes. plus oas-twsltth o[ yearly premium installments for mortgage inutraaa. if any. all as reasonably estimated initially and from time to lima by Leader oa the basis of assetsrrtents and hills and rcasonabk estimates thereof. 71rs fltrtds shall be held in an institution the deposiu or accounts of which arc ittsured or gwraateed by a Federal otr state s,gertcy (iachding bender if Lender is such an institution). Lender shall apply the Funds to pay said taxes. assasataus. insurance praniums sad ground rents. Lender may not charge for ro holding and applying the Fords. analyzing said account, or verityiag;ad compiliag:tid assessments and bills, unku Lender pays Borrower interest oa the Funds and appliabk law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Mortgage that interest on the Funds shall be paid to Borrower. and ualas such agreement a made or applicable law requires suds iatersst to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender sbaB give to Borrower. without charge, an snow) aotmttnting of the Funds showing credit: and debits to the Funds and the purpose for which arch debit to the Funds was made. The Funds arc pledged u additional security for the sums secured by stile Mortgage. U the amount of the Fund: heW by Lender. together with the future monthly installments of Funds payable prior to the due dates of toes. assessments. irtwrance premiums and ground rents, shall exceed the amount required to pay said taxes. assessraeats, inwraace prnmiuaa and ground rents u they fall due, such excess shall be. at Borrower's option, either promptly repaid to Borrower or txedited to Borrower oil monthly installments of Funds. If the amount of the Funds bttld by Letdar :ball not be ad~Ot to pay toes, assessments. insurance premiums and ground rents at they fall due. ' Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days [rom the date ratite is mailed by Leader tD Bomower requesting payment thereof. ' Upon payttseat in full of all aura secured by this Mortgage, Lentkr shall promptly refund to Borrower any Funds held by Leader. It under paragraph 18 hereof the Property is sold a the Property rs otherwise acquired by Lender. Lender shall spply. no later than immediately prior to the sale of the Property or its acquisition by lender. any Funds held by reader at the time of application as a credit against the sums secured by this Mortgage. 3. Appiieatiaa st ti0'~ Unless sppliubk law provides otherwise, all paymenu r+oceived by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower wader paragraph 2 hereof. then to interest payable on the Note, then to the principal of the Note. and then to interest and, priatdpal on say Future Advances. - d. Cldrges; I.ieas. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to - tbe Property which may attain a priority over this Mortgage, and leasehold payments or ground rents. if any.-in the manner provided under puagraph 2 hereof or. if not paid in such manntr, by Borrower making payment, when due. directly to the payee tbtxeof. Borrower shall promptly furnish to Lender all notices of amounts- due under this paragraph. and in the event - Borrovrer shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which hu priority over this Mortgage: provided, that Borrower shall not be requited to discharge any such lien so bog u Borrower shall agree in writing to the payment of the obligation securod by such lien in a manner acceptable to !.ender. 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. Idwrti IasYrawce. Borrower shall keep the improvements now existing or hereafter erected on the Property inwred against loss by fire. hazuds included within the term "extended coverage", and such other hazards u Lender may require sad is such amounts and [or such periods u Lender may require: provided, that lender shall not require that the amount of III such rnverage exceed that amount of coverage required to pay the sums secured by this Mortgagi. The iawrartce carrier providing the insurance shall be chosen by Borrower subjoct to approval by Lender. providod. that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner providod under paragraph 2 hereo[ or, if not paid in such manner, by Borrower making payment. when due, directly to the inwtance carrier. ~ All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage clause in favor of and in form acceptable to Lender. Lender shall have the tight to hold the policies and renewals thereof, ~ and Borrower shall promptly furnish to Lender all renewal notices and all rcceipis 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. - Uokss Lender and Borrower otherwise agree in writing, insurance procceds shall -be applied to restoration or repair of the Propt:rty damaged, provided such restoration or repair rs ecoramically feasible and the security of this Mortgage is not thereby impaired. It such restoration or repair is nin rconomicatly feasible or if 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 abaodonod by Borrower, or if Borrower fain to respond to Lender within 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 s is authorized to collect and apply the insurance proceals at Lender's option either to restoration or repair of the Properly or to the sums secured by this Mortgage. - Unless Lender 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 I and 2 hereof or change the amount o[ such installmenu. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower in sad to any Rtsurattce policies and in and to the proceeds thereof rewlting from damage to the Property prior to tilt sale or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or acquisition. f. Praervatba sad Maieteoaace of Property; Laiselwlds; CondomiaiYars; Plaaaed Unit Ikrtbpmeats. Borrower shall kcep the Propctty in good repair and shall not ca~rttroit yvute or permit impairment or deterioration of the Property sad shall comply with the provisroas of any lease it this Mortgage ~c on a leasehold. If this Mortgage is on a unit in a . coadominium or a planned unit development, Borrower shall perform all of Borrowers obligations under the declaration ( or covenants creating or governing the condominium or planned unit devebpment, the by-laws and regulations of the condominium or planned unit developrtrent, and constituent documents. If a condominium or planned unit development rider is executed by Borrower and recorded together with shit Mortgage, the covenants and agrcements of such rider -shall tit incorporated into and shall amend and supplement the cos~enanls and agreements of this Mortgage u if the rider were a part hereof. 7.• Protertioa of Lender's Security. If Borrower fad. to perform the covenants and agreements contained in this Mortgage, or if any action or procetding is commenced which materially affects Lerxler i interest in the Property, 333 including, but not limned to. eminent domain, insolvency, code enforcement. or arrangements or proceedings involving a t bankrupt or decedent, then Lender at Lender s option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's inserts), including. but not limited lo, disbursement of reasonable attorr~ey's tees and entry upon the Property to make repairs. If 1_ender required mortgage insurance as a .condition of making the loan secured by this Mort Rage. Born:wer sh-ill pay the premiums required to maintain such € insurance in effect until sucfi time as the requirement fpr wch rnsurance Terminates in accordance with Borrower's and et ii l3'~ t • 4 • • ~ i - - d00 ~ P1GE