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UNIFORM OoveNAt+rrs. BOrrowet sad Lender covenant and same u follows:
>ti. lt'gatsM N hlttt*ttl srtl Llaraf. Borrower shall promptly pay when dues the principal of rind interest oa the
ittdebtednest evidertoed by tbs Note, prepayment and late charges ac provided in the Note. and the principal of wail interest
as any Futuro Advtux~es sttcurod by this Mortgage.
2. ltsMs tw Tsates ttrtd Itswtr>Nte. Subject to applicable law ~u to a written waiver by lender. Borrower shall pay
to Lettda on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
a stem (bsrein "Funds") equsl to oaatwelfth of the yearl~• tas~~ and assessrntnts which may attain priority over this
Mortgage. and~gr+ottnd rents on the Property, if any. plus oae•twelfth of yearly premium installments for hssard insurance.
plus oaatwdith of yearly premium installments for nwrtgage insurance. it any. all as reasonably estimated initially and ft+om
time to time by Leader on the basis of assessments and lath and reasonable estimates thereof.
The Funds shall be held in an institution the deposits or accounts of which are inwred or guaranteed by a Federal of
state sgettcy (including Lender i[ Lender is such an institution). Lender shall apply the Funds to pay said taxes. assessments. ~
iawraace premiums and pound ants. lender may rant charge for sn holding and applying the Funds. analyzing said account,
or verifying sad compiling said assessments 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 this
Mortgttga 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 not be required to pay Borrower any interest or earnings on the Funds, Lender ~ ,
shall pve to Borrower, without charge, an annual accounting of tht Funds showing credits and debits to the Funds and the
purpose [or which each debit to the Funds was made. The Funds arc pledgod as additional security for the sums secured
by this Mortpge.
If the amount of the Fund: held by Lender, together with the future monthly installments of Funds payable prior to
the due dates o[ taxes, sssessmenb, insurance pamiums and ground rents, shall exoetd the amount required to pay said taxes.
assesanents. insurance premiums and ground rents as they tall due. such excess shall be. at Borrower's option. either
ptaosptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Lendsr shill not be wtl3cient to pay taxes, asseastttents, insurance premiums and ground ants u they fall due,
BotrotArer shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Leader to Borrower requesting payment thereo[.
Upat paytneat is full of all sums secttted by this Mortgage, tender shall promptly afund to Borrower sny Funds
hdd by [render. If under psrapaph 18 hereof the Property is add or the Propeny rs otherwise acquired by Lentkr. Lender
:hall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender. way Funds held by
Lender at the time of application as a credit against the :tiros secured by this Mortgage.
3. A~IicsRian d lgmetMs. Unless applicable law provides otherwise. all payments received by Lender under the
Note sad paragraphs 1 wad 2 hertof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under puspsph 2 hereof. then to interest payable on the Note, then to the prirrcppal of the Note. and then to interest and
principal on any Future Advances.
1. Ctwte:; Lteru. Borrower shall pay all taxes, assessments and other charges. flrtes~and impositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold payments or grourttl rents. if any. in the manner
provided tinder paragraph 2 hereof or. if not paid in such manner, by Borrower making payment. when due. directly to the
payee thereof. Borrower shall promptly [urnish to Lender all notices of amounts due under this paragrsplt. wad in the event
Borrower shall make payment directly, Borrower shaft promptly furnish to Lender receipts evidencing such paymenu.
Borrower shall promptly discharge any lien which has prwrity over this Mortgage: provided. that Borrower shall not be
required to discharge any such lien so brag as Borrower shall agree in writing to the payment of the obligation secuttid by
such lien in a manner acaptabk to Lender, or shall in-good faith contest such lien by, or defend enforcement of such lien in.
legal proteedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
S. IElasari Iassrsrter, Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage and such other hazards as Lender may require
and is 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 scarred Eby this Mortgage.
'Ihe inwrarrce 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, dir+octly to the
insurance 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 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 low if not made promptly
by Borrower.
Unless Lrnder and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoratan or repair of
the Property damaged, provided such restoratron or' repair is economically feasible and the security of this Mortgage is
rat thereby impaired. If such restoration or repair is not economically (easible 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 rf Borrower fails to respond to Lender within 30 days from the
data ranee is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
is autborizod to collect and apply the insurance proceeds at Lender i option either to restoration or repast 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 shall not extend i
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 Property is acquired by Lender. all right, title and interest of Borrower
is and to any inuurance policies and in and to the proceeds thereof resulting from damage to the Property prior to tltc sale
or acquisition shall pan to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
trestrvalioa acrd Maiaacnance of Property; tiesaebolds; Condominiums; Plaarsed Unit DevelioNnertts. 8arrower
shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease if this Mortgage i. on a leasehold. It this Mortgage is on a unit in a s
condominium 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 development. tht 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 agrcements 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 Securffy. if Borrower Earls a~ perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
including, but not limned to. eminent domain. insolvency. code enforcement. or arrangements or proceedings involving a
bankrupt or decedent. then Ixndor at Lender's option, upon nc?tice to Borrower. map make such appearances, disburse such -
surns and take such action as is necessary to protect I~rrder's interest, including. but not limbed to, disbursement of
reasonable attorney's flea and entry upon the Property In make repairs. !f Lender required mortgage insurance as a
condition of making the loan secured by This Mortgage. Born:wer shall pay the premiums required to maintain such
insuranct in etTect until such time as the rcyuirement for such msuran:e terminates in accordance with Borrowers and
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