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UNIFORM COVENANTS. Borrower and Lende- covenant and agree as lollows:
1. Paym~nt of Principal and I~t~nst. Borrower shall promptly pay when due the principal ot and mterest on the
indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal ol and inleresl
on any Future Advances secured by this Mortgage.
2. FuMls for Tsx~s and 1lfsuhnc~. SubjeCl to applicabte law or to a written waiver by Lender, Borrower shall pay
to Lende~ on the day monthy installments ot p~incipal and interest are payable under the Note, until the Note ~s pa~d ~n tull.
a sum (herein "Funds'~ equdl to one-Nveltth ot the yearly taxes and assessments which may attain prionty ove~ this
Mo~tgage, and ground rents on the Property, il any, plus ono-tweltth of yearly premium instattments 1or hazard insurance.
plus ono-twelfth ot yearly premium installments tor mortgage insurance, if any, all as reasaonablyestimated initialtyand from
t~me to lime by Lender on Ihe basis of assessments and bills and ~easonable estimates thereof.
The Funds shall be held in an institution the deposits or accounts of which are ~nsured or guaranteed by a Federal or
state agency~includi~g lender it Lender is such an inst~tution). Lender shall apply the Funds to pay sa~d taxes, assessments,
~nsurance premiums and ground rents. Lende~ may not charge tor so holding and applying the Funds, analyzing said account.
or verifying and compiling said assessments and bills, unless Lender pays Borrower ~nte~est on the Funds and appticabte law
perm~Is Lende~ to make such a charge. Borrowe~ and le~der may agree ~n writing at the t~me o~ execut~on ot th~s
Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement ~s made or applicable law
reqwres such interest to be paid, Lender shatl not be required to ppyBOrrowerany interest orearnings on the Funds. Lertder
sr~all g~ve to Borrower, w~thout 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 a~e pledged as addit~onal secunty fo; Ihe sums securec!
by th~s Mortgage.
If the amount oi the Funds held by Lender, together w~th the tuture monthly mstatlments ot Fun~is p~e~~or to
the due dates oi taxes, assessments, insurance premiums and ground rents, shall exceed the amount req~~r id ta~x~~ ~
assessments, insurance premiUms.and ground rents as they lall due, such excess shall be. at r o I~te~o~`~~
promptly repaid to Borrower or credited to Borrower on monthly installments ot Funds. t~ ~~ ~~
held by Lender shatl not be sutficient to pay t2ixes, assessments, insurance prem~ums ou 1 ~s d~~ ~~ ~
Borrower ~hatl pay to Lender any amount necessary to rhake up the def~ciency w:thi~ ys irom ~~ i~~
by Lender to Borrower requesting payment thereot. lp G ~V
Upon payment in full oi aN sums secured by this Mo~tgage. Lender shall prom~~~~ ~~~or~aGrer any Funds
h~ld by Lender. If under paragraph 18 hereof 2he Property is so~d or the Property is o ~ uired by Lender, Lender
shall apply, no tater than immediately prior,to th~.sate pt the Praperty or its a~qwsit~b ~4Rder, any Funds held by
Lender at the time ot apptication as a credit against ihe sums secured by this Mortga~•
3. Applicatlon qf Paymsnb. Unle~s appticable law provides otherw~se. al1 payments received by lender under the
Note and paragra~hs 1 and 2 hereof shall be applied py Lendetflrsl in payment of amounts payable to Lender by Borrower
under paragraph 2 Fiereof, Ihen to inter~st payable on the Note: then to the pr~ncipal of the Note. aind then to ~nterest and
pnncipal on any Future Advances:
4. Cha~es; Llsns. Bor-ower sliall pay all taxes, assessmeMS end other charges, fines and impos~t~ons attributable to
the Property which may atiain a priqrity over this Mortgage, and leasehold payments or gound rent5. ~f any, ~n the manner
Rrov~cied under paragraph 2. hereof or, it not paid ~n such manner, by Borrower making payment, whQn.due. d~rectly to the
payee thereof. Borrower shall promptly furnish to Lender atl nol~ces of amounts due under this paragraph, and in the event
Borrower shall make payment directly. Borrower shall promptty turnish to Lender receipts ev~dencing such payments.
Borrower shall prompily discharge any lien which has prioriry over thls Mortgage: provided. that Borrower shall not be
require~ to discharge any such lien so Iong as Borrower sha11 agree in w~iting to the payment ot the obligation secured by
such lien in a manner acceptable to Lender, o~ shall m good fa~th contest such t~en by, or defend enforcement oi such lien ~n.
Iegal proceedings which operate to prevent the enforcement ot the t~en or forfe~lure o( the Property or any part thereoi.
5. Hazard Insuronce. Borrower shall keep the ~mprovements now ex~st~ng or hereafter erected on the Property insured
against toss by fire, hazards ~ncluded withln the term ~~extended coverage". and such other hazards as Lertder may requ~re
and ~n such amourtts and for such periods as Lender'requ+re; prov~ded. that Lender shall not ~equire that the amount of
such coverage exceed that amount of coverage required to pay the sum secured by th~s Mortgage, -
The insurance caRier~providing the ~nsurance shatl be chosen by Borrower sub~ect to approval by Lender: prov~ded
l~at such appr.oval shall not be unreasonably wi~hheld. All premwms on msurance pol~c~es shall be pa~d ~n the man~er
prov~ded under paragraph 2 hereof or, if not pa~d ~n such manner. by Borrower making payment, wh~n due. directty to the
~nsu-ance carr~er. ~
Atl insurance poficies and renewals thereot shall be m form acceptab-e to Lender and shall ~nciude a stan~ard mortgage
clause in favor ot and m torm acceptable to Lender. Lender shall have the r~ght to hold tne poiicies and renewats thereot,
and Borrower shall promptly furn~sh to Lender all ~enewat not~ces and all rece~pts of pa~d prem~ums. In the event of loss.
8orrower shall g~ve prompt not~ce to the ~nsurar ~e carr~er and Lender. Lender may make proof of loss ~t not made-prompt~y
by Borrower.
Unless Lender and Borrower otherwise agree m writing, ~nsurance prc;,eeds shall be apphed to restoration or repau of
the Property damaged, provided such restoration or repair is econom~caliy feas~ble and the security oi this Mortgage ~s
not thereby ~mpa~red. If such restorat~on or repa~r ~s not econom~cally feas~ble or ~t ine secur~ty ot th~s Mortgage would
be impa~red. the ~nsurance proceeds shall be appl~ed to the sums secured by th~s Mortgage. w~th the excess. ~f any, pa~d
to Borrower. It the Property is abandoned by gorrower, or d Borrower (a~ls to respond to Lender w~th~n 30 days (rom the
date not~ce ~s ma~ted by Lender to Borrower that the msurance carner offers to settie a cla~m for ~nsurance benet~ts. Lender
~s authonzed to collect and apply the ~nsurance proceeds at Lender's opt~on e~ther to restorat~on or repa~r ot the Property
or to the sums secured by this Mortgage. ~
Unless Lender and Borrowe~ otherw~se agree ~n wr~ting. any such appl~cat~on ot proceeds to pnnc~pal shall not extend
or postpone the due date of the monthly ~nstallments referred to m paragraphs 1 and 2 hereof or change the amount of
such installments. If under paragraph 18 hereof the Property ~s acqu~red by Lender. a1~ r~ght. t~~le and ~nterest oi Borrower
~n and to any insurance pol~c~es and ~n and to the proceeds thereof result~ng trom damage to the Property pr~or to the sale
or acquisition shall pass to Lender :o the ex:enl of the sums secured by In~s Martgage ~mmed~ately pr~or to such sale or
acquis~tion.
6. Preservatfon snd Maintenance of Propsrty; Leaseholds; Condominfums; Planned Unft Devslopments.
Borrower shal! keep the Property m good repau and shall not comm~t waste or perm~t ~mpa~rment or deteriorat~on oi the Pro-
perty and shall comply w~th the provis~ons of any lease ~f this Mortgage ~s on a leasehotd. li this Mortgage ~s on a un~t ~n a
condom~n~um or a planned un~t development. Borrower shall pe~torm atl ol Borrowers obl~gai~ons under the declarat~on
or covenants creat~ng or governing the condom~nium or planned unit developmenl. the by-laws and regulat~ons ot !he
condom~n~um or ptanned unit development. and const~tuent documents. It a condom~n~um or planned un~t devetopment
r~der is executed by Borrower and recorderf tc~geihe~ with this Mortgage; the covenants and agreements oi such r~der
shan be ~ncorporated mto and shall amend and supplement the covenarns and agreements ot th~s Mortgage as ~t the nde~
we-e a part t~ereof.
7. Protsctlon of Lsnders Sscurlty.. It Borrower tails to pertorm the covenants and agreements conta~ned m this
Mortgage. or ~f any act~on or proceedirtg is commenced which m8terialty atfects Lender s~nterest ~n the Property.
~ncfud~ng. but not I~m~ted to, emment doma~n, msolvency, code enforcement, or arrangements or proceed~ngs ~nvolv~ng a
bankrupt or deceden~ then Lender at lende~s option, upon not~ce to Borrowes. may make such appearances. d~sburse such
sums and take such act~on as ~s necessary to protect len~ers mterest, mcluding, but not I~m~ted to. disbursements ot
reasonabte attorney's fees and entry upon the Propetty t0 make repairs. If Lender requ~red mo-tgage ~nsurance as a
cond;t~on ot mak~ng the loan secured by th~s MoRgage. Borrower shall pay the prem~ums requ~-ed to ma~nta~n such
~nsurance m elfect unt~l such t~me as the requ~rement for such msurance term~nates ~n accordance w~th Borrowers and
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