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Borrower and l.ender covenant and agree as follows:
1. Payment ot 1'rincipel end Interest. f3orrowe~ ahnll pmmptly pay when due the principal ot nnd inte~eat un the indebtednexs
evidenced by the Note, prepayment a~d latecha~gee as provided in the Note, und the principal uf and interest un any Future AdvAnceasecured
by thia Mortgage.
2. Funde for Taxes and Ineurance. tiubjecl to Applicuble inw ur to n wriUen wAiver by IA nder, liorrower shull puy to I.rndrr un Ihe duy
mo~thly inatallmenta ot principal and intercat are payable uode~ the Note, until the Note is puid in full, i~ sum Ihrrein "M unds"1 equal tu onr
twelhh of the yra~ly tuxea and uawresments which muy nttnin priority over thia MurtguKr, and ~ruund rentx on Ihr 1'ro~erty, if nny, plua one
twelRh of yearly premium installme~ta for hazerd insuru~rn, plus unrtwel(th of yearly premium inxtallmrntx tor mortgugr inaurance, if any,
nll aa reasorably ealimuted initially and from time to ti~r~e lry I.rndrr on the t-:-sirs uf .~x.tiesxmentx and bills t~nd rrusunablr ratimut~~n thrreuf.
The Flinds shall be held in an institution the depuaita or accaunts of which are inaured or gu~ranteed by a Medera) or State agency
lincluding I.endrr it l.ende~ ia such an institution). t.ender shall apply lhe hunds to puy at~id wxex, uaxc~xmenta, insuranc~ prrmiums and
Ecround rente. l.ender may not charge for eo holding and applying the Munds, anulyzing said acrnunt, or verifying and ce,mpiling said
assesamente and biUs, unlesa I.ender paye Borrower intereat un the F unda:~nd Applicable law permitx l.ender tu make such :~ charge. liorruwe~
and l.ender may agree in writing at lhe timr of e:ecution o( thia MurtR+-ge that interrst on the Funds ehall be paid to Borrower, und unlesa
such agreement is made or applicable law nquirea auch interext b be paid, (.ender shnll not be required tu pay Fk,rrower any iolerest or
earnings on the Funda. l.ender ehall give to Iiorrower, without charge, an nnnuAl arcounting of the M unde showinK credits and debits to lhe
Funda and the purpoae for which each debit to the Funda wa~s made. The F unds are pledged as additional security fu~ the auma secured by thie
Mortqage.
If the amount of the Funda held by I.ender, together with the futurn monthly instsillmrntzs of Funds payuble prior tu the due datesof tu:ee,
assessments, inaurance premiums and ground mntx, shal) exc~~ the :imount myuind to pay said taxex, asse.u;mrnts, insurance premiume
and ground rents as they fall due, auch excrsx shall be, af F3nrrower's ~~plion, either promptly repaid to I3orrower ur credited lo Borroweron
monthly installmenta of Funda. If the amount o[ Ihe Funds held by I~ender shall nut be sufficirnt to pay t~xea, ussex~meots, insurance
premiuma and ground rents as they fAll due, l;urrower shall p~y to l.ender s~ny ~mount neces.vary to mnke up the deficirncy within 30 daye
from the date notice is mailed by ixnder to t3orn~wer rnqu~tinK payment thermf.
Upon payment in full of all suma secured by this ModKaKe, l.ender shull pn,mptly refund to liorrower any funds held by l.ender. lf under
parag~aph 18 hereo[lhe Property is sold or the ['roperty is otherwisc ucyuired by I.ender, l~ender ahall apply, ~o latrr than iminediulely prior
to the aale af the Property or itsacquiaition by I.ender, any Funds hrld by 1 A~nder a+t the timeof npplication ns a credit against the sumssecured
by this Mortgage.
3. Applieation of Yaymenta. llnless applicable law pruvides otherwise, all payments received by I.ender under the Nole and
paragrapha 1 and 2 hereof shall be applied by I.ender first in paym~•nt of nmounts pay:~ble to I,ender by Borruwer under paragraph 2 hereof,
then to inlereat payable on the Note, then to the principa) ot the Note, and then to interest and princip:~l un s~ny h uture Advances.
4. Charges: l.iens. F3orn~wershall p.~y nll tax~s,:~tise:csm~•nlr, and uth~•r ch.~ry;c~, fines arid imp~sitiuns.~ttributable G~ the 1'roperly which
m:+y attain a priority overthis MortKage, and le:~cehuld puyments ur ~;n~und rentz, if an~, in thema~nerpruvidirl under par.~Kr:ip~ 2 hereofor,
~f not paid in such manner, by fiorruN•er makinK pa>•nu•~t, when dut•, dinY•tly to the p:p~~r ther~r~L liorn~w~•r sh:~ll prumptly furnish tu I.ender
.~Il noticrs of ~mounts due under this p:~raKraph, and in the iwenl li~~rruwer sh.ill m:~k~• p:~ym~•nt dinti•t!~ , Burm~ne~r shall prumptly furnish G~
I.f•nder receipts evidencing such paymi•n4~. It~~rruwer shall prumpUy di~:~•h:~r~;i• an~ li~•n w•hich has priurit~• u~•t•r thi~ 1~1ort~;:~Ke; provid~d, that
I:urrower shall nut be rrquirrd tu diccharKe any .u~•h li~~n so lun~; a. K~~rn~w~~~r ch:dl a~nr• in w•ritin~ tu th~• ~-:~ymt•nt ~~tth~•nl-li~;atiun secured by
such lien in a m~nner acc~ptablt~ to Ixndrr. ~~r sh:lll IO ~INNI Luth i•~~nt~~.t .u~•h hi•n Ly. ~ir d~•fi•nd e•nfun•.•m~•nt utsw•h li~•n in. Ie~;.+l prvicerciinKs
w•hich operate to pre~•ent the enfuri•ement of Uic lien ur furfruur.• ~~f th~• Pru{N•rtc or :-m• p:~rt thenr~f.
5. Hazard Inxurance. liorrow•er ~hall krrp thi~ impm~~~•ment. nuw existinK ur hen:~Rer erert~~ un thc~ 1'ruE~ertv intiuretil aKainst luas by
fire, huzards includ~~l within the tertn "extrndi•ef i•o~~craK~•," and sui•h uther hazard~ ati 1 w~nder may rt~~uirr :md in suc~F~ umuuntx and for such
F~•riods as I.ender map myuire; pru~~id~~l, that IA•~di~r sh:~ll nut rw~uin• th:d th~• :~m~~unt uf such eti~~•~•r:~K~• ~•xc~~~1 that amount ~-fcoveraKr
n~yuired tu pay the sums .c~•und M• thiti 1~1ort~;a~;~•.
The insurani~~ carrii~r pru~•idin~ th~~ insur.~n~r .h:~ll iN• ~•h~~.~~n I~y !{urr~~~•~•r wbj~n•t t~~ apprucal 1~~~ I a•nd~•r, pr~~~~iditil. that surh :~ppro~al
shull not hr unre:~vonabl}~ withh~~ld. All pr.•~nium. un in.uranr~• ~H~lu~u•..haU Ir• p:ud in th~• m:uin~~r pruvi~iwl und~•r par.~~;r.iph '_' h~•nr~f ur. if
m~t paid in such m.~nn~~r, b~ IA~rrov-•rr m:~kiny; p:~y~n~•nt, wh.•n ~Iw•, dir~~-tlc t~~ th~• ~nwr.mi•~• rarri~•r
All insurance policiiw:~nd renew•als th~•rc~,f ch:~111M• in funn a~-~•i~~daLlt• t~r 1 ~•nderand shall in~•lude•:~ stand:~rd mortKaKerlause in favurof
~~nd in form acc~ptable tu I.ende~. l,rnd~•r.h:-11 h:i~v th~• ri~;ht G~ h~~ld th~• ~N~li~•i~•~ and r~•n~~w•als thi~nti~f, :~nd l3urrnwer tihaU promptly furnish to
i~~nder all renewal nutices and :~ll n~•ripts of pa~d pn•mium.. In thr ~~v~•ut uf (usc. It~~rr~~w•~•r .hall Ki~•i• pn~mpt nutice G~ the insur.~nre carrier
and I~ender. [~ender may make pnN~f of luss if nnt m:+dr prumptly bt- Itorrowi~r.
Unless l.ender and li~,rruwrr othc•rwiu• aKrr~• in writ~n~;, insur:incr pr~N•~yds .hall 1H~ applit~d tu rtrtur:~tiun ur rep:+ir of lhe 1'roperty
damaged, pruvided such rewtnration ur rt•pair iti a•nnumi~•alh fc~sihl~• and th~• si~~unh• ~~f this 11ortKaKe is not thereby impaired. If such
n~sGiration or repair is not ec~mnmii :ill~ f~•asibl~• ~~r if th~•.tr•urity of th~ti ~1urt~;a~;~• IKUUI/~ IN• imp.+:revl, thr insurance pmcc~cds ~hall heapplied
to the auma secured by lhi~ :ltortK.~Kr, with tht~~•x~•~•s., if any, paid to l3~~rruwrr. If the !'ru{-erty is abanduned by ltorruwer, or if Eiorn-w•er faila to
reipe-nd to I.ender within :itl days frum the datr ni~tir~• ix mail~Yl by 1 ~•ndrr to li~~rruwrr that Lhe~ invur:+nce carrier offers tu settle a claim for
~n~urance benefi44. I,ender is authoritcrl tu ~•~~II~ti•t :md :~pph• the intiur:~ncr pn~•w•d~ :~t I~~nder's uptiun either to restur.~tion or repair otthe
f'roperty or the sums securecf by this lllorlK:~K~•.
Unless I.ender and fiorruwer utherwise :~Knr in wntinK, any su~•h appii~•ati~~n uf pnK•~ti~cis to principal shall nut extend or pustpone thedue
date of the monthly installmrn~s referreYl to in par~~;raph. 1 and 'L t~rr~rrf or chanKr th~• amount of such insG~llments. :f under paragraph lA
hereof the Pmperty is acquirrd by 1~c nd~•r, all riKht, litl~• and inler~~st of I;orruw~•r in and tu :~ny insurance Ex~licirs and i~ and to the proceeds
thereof reaultinQ from damaKe to Proprrty prinr tu th~ v+ir nr a~Y~ut~itiun chall pns, t.~ I~ender t~~ the extent of th~ sums secured by this
~turtKage immediately prior tn such salr nr acyui~itinn.
6. Preservation and Maintenancc of 1'roperty; IAilBI•hulds;('onduminums; l'lanned l:nit Developments. Rorrowershall keep
the i'roperty in g~x,d mpair and yhall not cummit w•a~tr ~~r }N•nnit imp:~irm~•nt ur d~•te•rioratiun uf the Property and shall cti~mply w~th the
prnviainns of any lease if this b1~~rt~;aKe iti un a If :~~rhold. If this MortKaK~• is un :i unit in a condominium or a planned unit de~elopmenl,
It~~rrnvrer shall perform all uf li~~rrower'~c ubliKati~~n~ undrr thrdcY•I:irati~~n or~•~~~•~~n:~nt. ~•r~:~t~n~;orku~ern~nye theconduminium urplanned
unit development, lhe by-laws ~nd rrKuL•~lions of the~ cundu~mnium or plannrcl unit devel~rpmrnt, .inci constiluent documents. I[ a
~•ondominium or planned unit dPeelnpment ride•r is e•xc~•ut~d by li~~rruwi•r :~nd rtti•~irdrd tugether with this Mortgage, the covenante and
,~KrfY•mrnts of su~•h rider.ha~l Ix• inrorpurat~til ~nto and sh:~ll amrnd :~nd suppl~~rn~~nt th~~i•~n•enants and aKiet•men4~ of this MortKaKr as ifthe
nder were a part hereoC ~
7. ProteMion ot Lender'e Security. If Rorrower failh i~, prrfomi th~ c,~vcnantei and aqrc~ment~ cr,nt~inrd in thie Mortgage, or if any
action or proceeding ie cvmmenced which materially affects I.ender P interest in the E'roperly, including, but not limited to, eminent domain,
~neolvency, mde entorcement, or arrangemente or pmceedinRs involving a bankrupt or decedent, then [.ender at l.ender'e option,upon
notice to Borrower may make euch appearances, diaburee auch aume and take auch action as ie nereesary to protect I.ender'e interest,
~ncluding, but not limited to, diabureement of reasonable attorney's feeef and entry upun the Property to make repaire. If Lender required
mortgage ineurance as a conditiun of making the loan secured by this MortKaRe, I3ornwver shall pay lhe premiuma required to maintain
such insurance in effeM until auch time ae the requirement for auch inaurance terniinates in accordance with E3orrower's and [.ender e
written aqreement or applicable law. Borrower Ahall pay the amount uf atl mortK:~ge insurance premiume in the ms~nner provided under
paragraph 'L hereoL
Any amountei dieburaed by I.ender perauant to thie paraKruph 7, with interest thereon, shall i-ecome ndditional indebtednees of
Fiorrower xecured by this Mortgage. Unless Iiorrower :~nd I.ender aKree t~~ other terms of payment, such amounte ehall be payable upon
notire from t.ender to E3orn,wer requeetinK payment thereof, and ahall bear interest frum the date of diabursement at the rate payable from
time to time un outatandinK principal under lhe Note unlesa p~vment of intrresl at such rate would be mntrary to applicable law, in which
Nvent such amounts shaU bear interest at the higheat rate permisesible under applicable law. I~iothing contained in thie paragraph 7, ahall
rNquire Ixnder lu incur any expense or take any action hereunder.
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