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UNIFORM COVHNANri. Borrower and Lender covenant and agree u follows:
1. lgtweat of >nriaeiMl ttttttl IdereM. Borrower shall promptly pay when due the principal of and interest on the
indeMedrtett evidenced by the Nde. prepayment and late charges ac provided in the Note, and the principal of and interest
as aoy Future Advances ttectued by this Mortgage.
IRtitti for Ttt:ee tt~ Itttwra~ee. Subject to applicable law..K to a written waiver by Lender. Borrower shall pay
to Lends on the day monthly installrrtcnts of principal and interest arc payable urrder.the Nde. until the Nde is paid in Lull,
a sum (herein "Funds' equal to efts-twelfth of the yearly tax~~ and assessments which tray attain priority over this
Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance.
plot otte-twelfth of yearly premium installments for mortgage inurrartcc. if any. all u reasonably estimated initially and from
time to time by Lender on the buffs of assessrncnts and hills and reasonable estimates thereof.
11te Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal of
state agency (including Lender if Lender Si such an institution). Lender shall apply the Funds to pay uid taxes. assessments.
insurance premiums and ground rents. 1_ender may not charge for so holding and applying the Fttnd~. analyting said account,
or vtrifying and compiling uid assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
permits Lender to make such a clurge. Borrower and Lender may agree in writing at the tithe of execution of this -
Mortgage that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicable law
requires such interest to be paid. Lender shall hat be required to pay Borrower any interest or earnings on the Funds. Lender
shall give to Borrower, without charge, an annual accounting of the Futtds showing credits and debits to the Funds and the
purpose for which each debit to the Funds wu made. The Funds arc pledged u additional security for the sutras secured
by this Mortgage.
If the amount o[ the Funds held by Lender, together with the future monthly installments of Funds payable prior to
. the due dates of taxes. assessmenu, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
assetarnents, insurance premiums and ground rents u they (all due, such excess shall bt, at Borrower's option, either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the >+unds
held by Leakr shall not be sttffict4ot to pay taxes. assessments, itsurance premiums and ground rents u they tall due,
'b¢mwer shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Lender to Borrower requesting payment thereof.
Upat payment in full of all sums secured by this Mortgage, lender shall promptly refund to Borrower any Funds
held'by Lender. If under pusgraph 18 hereof the Properly is sold or the Property is otherwise acquired by Lender, Lender
shall apply. rte 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 u a credit against the sums secured by this Mortgage.
3. Arpiicatioa of taYaterNs. Unless applicable law provides otherwise, all payments received 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
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. -
d. Charges; Lkns. Borrower shall pay all taxes..asses ments and other charges. fines and impositions attributable to
the Properly which may attain a priority over this Mortgage, and leasehold payments or ground 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 diratly., Borrower shall promptly furnish to Lender receipts evidencing such payments.
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
sucb lien in a manner acceptable to Lender, or shall in gcx~d faith contest such lien hy, or defend enforcement of such lien in.
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any pan thereof.
S. Hazard lawtraace. Borrower shall kcep the improvements now• existing or hereafter erected on the Properly insured
against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
and in such amounts and for such periods as Lender may require; provided. That Lender shall not require that the amount of
such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
71re insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
that such approvl 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
insurance carrier.
All insurance policies and renewals thereof shall tx 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 right to hold the policies and renewals thereof,
and Borrower shall promptly furnish to Lender all renewal notices and ail receipts of paid premiums. In the event of loss.
Borrower shall give prompt notice to the insurance earner 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 restoration or repair is economically .feasible and the security of this Mortgage is
not thereby impaired. If such restoration or repair is nc~t economically feasible or if the security of this Mortgage would
be impaired. the insurance proceeds shall be applied to the sums secured by this Mongagt, with the excess, if any. paid
to Borrower If the Property is abandoned by Borrower, or it Borrower fails to respond to Lender within 30 days from the
date notice rs marled by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
is autboriied w collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Propene
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 doe date of the mcrothh• installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments. If under paragraph 18 hereof the Proferty is acquired by Lender, all right, title and interest of Borrower
in and to any Assurance policies and in and to the proxeeds 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.
6. Ihesenation and Maintenance of Property; Leaseholds; Condominiums; Planned Udt Devebpmenfs. Borrower
shall kcep the Property in good repair and shall not comrpit yvaste or .permit impairment ~or deterioration of the Property
and shall comply with the provisions of any lease if thu Mortgage rs 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 declarahun
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 dcxuments_ If a condominium or planned unit development f
~ rider is executed by Borrower and recorded together with thn Mortgage, the covenants and agreements nt such rider
shall be incorporated into and shall smend and supplement the covenants and agreements of this Mortgage as if the rider
were a part hereof.
7. Proration of i.enders tiecurfty. It Rc•rrower (:ills tc~ perform the covenants and agreements contained in this
Mortgage, ur if any action ur prcxeedrng is a?mmcnced which materially affects Lender's interest in the Property.
including. but not bmited to. eminent domain. ins~dvcncy. code enforcement. or arrangements or proceedings involving a
bankrupt or decedem. then Lender at Lender's option, upon notice to Borrower. may make such appearances, dishurse such
sums and take such action as is necessary to protect Lender's interest. including. bet not limited to, disbursement of
reasonable anorney's fees and entry up~m the Property to make repairs. If Lender required mortgage insurance as a
condition' csf making the loan secure) h~ this Mortgage. Bc~rrrwcr shall pay the premiums required to maintain such {
insurance in irtiect until wch time ati the rcyuirement for such msuran.e terminrtes m accordance with Borrower's and
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