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UNIPORIir OOVBNANTa. Borrower std lender covenant and setae as tdk!tirs:
>G ~ of hinefpal soft 4lenet. Bortrower shall promptly pay when due ibe principal of and intereq on the
itidobtednas evideaoed by the Note. prepayment and late ctwraes ss provided in the Note. and the principal o[ and interest
oa any Futirro Advances secured by this Mortaaae.
t lrNi ter Tttaua sad lwrtKw. Subject to applicable law or to a written waiver by Lender. Borrower shalt Pay
to Lender on the day monthly ittstalltnents of principal and interest arc. payslik under the Note. until the Note is paid in toll.
a aura (tisrein "Fitada'q equal to ortatwelfth of the yeari}~ tax~~ and assessments which ttsay attain priority over this
Moriaage. and tround rents on the Property. it any, plus one-twelfth d yearly prettaium installments for hasard inwrtttice.
plus one-twelfth o[ yearly premium installments for mortaaae insurance. if any. all as reasonably estimated initially and from
time to time by Lender on the basis of assessments and hills and reasonable estimates thereof.
' The Funds shall be held in an institution the deposits or accounts of which are intwred or Guaranteed by a Federal of
state agency (inchrdina bender it Lender is such an institution). Lender shall apply the Fbrtds to pay said rases, assetssrrtettts.
insuratiee premiums and around rents. tender may not charge for se+ holding and apptyina the Fonda, analysing said accotutt.
or verifyinG.artd compilinG said asseuments and bilk, unless Lender pays Borrower interest on the Funds and applicable law
permits Lender to make such a charge. Borrower and Lender may setae in writinG at the time of execution of this
Mortpae that interest on the Funds shall be paid to Borrower. and unless such aGreement is made or appliabk law
require: such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
:hall Give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
by this MortGaGe.
U the amount of the Funds held 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.
asttearoents, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option. either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
btdd by Lender shall hat be suf6cieat to pay taxes. assessments. insurance premiums and around rents ss they fall due. I
Borrower shall pay to Leader any amount necessary to make up the deficiency within 30 days from the date ratite is mailed
by Lender to Borrower requesting payment thereof.
Upon payment in ftrll of all suttis secured by this Mortgage, lender shall promptly refund to Borrower any Funds
held by Leader. If under paragaph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
shall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
Lender at the-tithe of application as a credit against the sums secured by this Mortgage.
3. A~iicatiow at Prpaertb. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by tender 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 Advattoes.
1. C6attts; Liras. 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 around rents. if 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 furnish to Lender all notices. of amounts due under this paragraph, and in the event
Borrower shall make payment directly, Borrower shall promptly fumish to Lender receipts evidencing such payments. 1
Borrower shall promptly discharge any 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
sued lien in a manner acceptable to Lender, of shalt in good faith contest such lien by, or defend enforcement of such lien ia,
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. ~
S. -Huard lasnraace. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
agairrst loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require-
and in such amounts and fur such periods as Lender may require; provided, that Lender shall not require that the amount of ~
such rnveragc exceed that amount of coverage required to pay the sums secured ~by this Mongaae. '
71te insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
that such approval shalt not be unrcasonahly 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, dir+txtty to the
i
~ inwrance carrier.
~ All insurance policies and renewals thereof shall be in form acceptable to Lender and shall inefude a standard'mortgage
clause in favor of and in form acceptable to Lender. !.ender shall have the right to hold 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 the insurance carrier and Lender. Lender may make proof of loss if not made promptly
by Borrower.
Unless Lender and Borrower otherw•~se agree in writing, insurance proceeds shall be applied to restoration or repair of
the Property damaged, provrded such rcaturat~on 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 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 within 30 days from the
date ratite 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 Lender's option either tb restoration or repair of the Property I
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 i
or postpone ttte 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 Pro ferry 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 the 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. Pr+eservatlon and ~laiotenance of Property; Leaseholds; Condominiums; Planned Unit Developanents. Borrower
a shall keep the Property in good repair and shall not commit yvaste or permit impairment or deterioration of the Property
o and shall comply with the provisions of any lease if thiti Mortgage is on a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shalt perform all of Borrowers obligations under the declaration
or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
condominium or planned unit development, and constituent documents. It 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 cotenants and agreements of this Mortgage as if the rider
were a part hereof.
` Protection of bender's Security. 1( Borrower f:uls p. perform the covenants and agreements contained in this
Mortgage, or if any action ur proceeding is commenced which materially affects Lender's interest in the Property, j
including, but not limited to. eminent domain. inW.lvenc}. code enforcement. or arrangements or proceedings involving a
bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, ma} maAe such appearances, dishurse such
sums and take such action ac is necessary to protect Lenders interest, including. but not limited to, disbursement of
reasonable attorney's tees and entry up~m the Property to make repairs. I( 1_ender required mortgage insurance as a
condition -of making the loan secured by this Mortgage. Bortcwcr shall pay the premiwns required to maintain such
f insurance in effect until such time as the requirement for wch msuran;e terminates m accordance with Borrowers and
. OR .~~tfi~;t.`~
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