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UNIFORM COYEN~NTS, BO«OWC~ 8flt~ LCfIIICf COYCI1~Ol :II1l) :IBR`C JS IPIIOWS:
1. Psymcat of Principal swd laterest. Borrowcr shall pramptly pay whe~ due the principal of and interest o~ the
inciebtedness evidenced by the Note. prepayment a~d late charges as proviJed in the Note, and the principal of and interest
on aay Future Advances secured by this Mortgage. .
2. F~ads fo~ Ttxes a~d Insunnce. Subject to applicable law or to a written waive~ by Lender, Borrower shall pay
ta Lender on thc day monthly inslallmentc oi principal and intcresl are payable under thc Notc, until thc Note is paid in tull,
a sum (herei~ '•FunJs") equal to ane-twelfth af the ycarly taxes and asse:smcnts which may at~ain priority over this
Mortgage, anJ grouod rents on th~ Propcr~y, if any, plus one-twclfth of yearly prcmium i~stallmcnts for hazard insurance,
plus one-tv-elfth of yearly premium installmc~ts for martgage insurancc, i( a~y, all as rcasonably estimated initially and from
time ta timc by I_endcr on thc basis of asscssmcnts and bills and rcasanable estimates thereo[.
''R~e Funds shal! he held in a~ in~titutian the depcuits or accaunts of which are insured or guaranteed by a Federal or
state agency (including Lender if I_ender is such an insti~u~ion). I_ender shall apply the Funds to pay said taxes, assessmenta,
insurance premiums a~d g~ound rents. l.ender map nat charge for so halding and applying the Funds, analyzing said account,
or verifying and compiling said assessments and bills, unless Le~der pays Borrower interest on the Funds and applicable law
permits Lender to make such a charge. Barrower and Lender may agrce in writing at the time of execution of this
Mortgage that interest on Ihe Funds shall tie paid to Borrower. anJ unless such agreement is made or applicable law
requires such interest to be paid, l.cnder shall no1 be reyuircd to p:iy Borrower any interesl or earnings on the Funds. Lender
shall give to Borrower, without charge, a~ annual accouming of the f=unJs showing ereciits anJ debits to the Funds and ihe
purpose for which each dcbit to the Funds v~~as made. The Funds are pleciged as aJditional securit~ for the sums secured
by this hlortgage.
lf the amount of the Funds held by l.ender, togcther with Ihc future monthly installmcnts of Funds. payable prior to
the due dates of ~axes, assessments, insurance premiums and ground rents, shall exceed the amount reyuired tu pay said taxes.
assessments, insurance premiums and ground rents as they fall due, such excess ~hall be, at Bnrrower's option, either
promptly repaid to Borrower or crcdited to Borrower on monthly installments of Funds. !f thc amount ot thc Funds
held by Lender shall not be suflicient to pay taxcs, assessmcnts, insurancc prcmiums and ground rents as they fall due,
Borrower shall pay to Lender an~ amuunt ~ecessary ta m:~ke up the defiriency within 30 da~~s from the date notice is mailed
by Lender to Borrower rcquesting pa~•mcnt thercof.
Upon payment in full of all sums secured by this Mortgage, l.ender shall promptly refund to Borrower aoy Funds
held by I_cnder. If under paragraph 18 hereof the Property is sold or the Propert~~ is otherwisc arquired by Lender, Lender
shall apply, no latcr than immcdiatcly prior to thc ~alc of thc Propcny or its acquisition by 1_cndcr, any Funds held by
Lendcr at the timc of appliration as a crcdit against !he sums secured by this Mortgagc.
3. Application ~,f Payments. Unless applicable law provides otherwise, all payments received by 1_ender unJer the
Note and paragraphs 1 and 2 here~f shall be applied by l.cnJcr first in payment of amounts payable to l.cnder hy Borrow~er
under paragraph 2 hereof, then to interest payable on thc Note, then to thc principal of the Notc, and thcn to intcrest and
principal on any Futurc Advances.
4. Chary;es; Liens. Borrowcr shall pay all ta~cs, atic~:sements and othcr chargcs, fines anJ impusitians attribu~able to
the Propert~ Hhich may attain a priority over this Mortgage, and Ieasehold payments or ground rents, if an~, in the manner
provided under paragraph 2 hereof or, if not paid in such manncr, by Borrower making payment, w•hen duc. directly to the
payec thercof. Borrower shall promptly furnish to l_endcr all notices of amounts dw; undcr this paragraph, and in the eveat
Borrower shall make payment direcUy, Borrow~er shall prompNy furnish to Lender rereipts evidencing such payments.
Borrower shall promptly di~charge any lien which has priority o~er this Mortgage; proviJcJ. that Borrower shall not be
rcquired to discharge any such licn so long as Borrower shall agrcc in Hriting to the pa~~mcnt ot thc obliga~ion secured by
such lien in a manner acceptable to Lender, or shall in ga~c! faith contrst such lien hy, or JefenJ enforrement of such lien in,
legal proceedings w•hich operate to prevent the enforcement of the lien-or [orteiture of the Property or any part thereof.
5. Hazard Insurance. Borrow•er shall keep the impmvements naH existing or hereafter er~~cted on the Properry insured
against loss hy 6re. hazards included w~ithin the terni "e~tendeJ coverage", and such other hazards ac Lender may require
and in such :~mounts anJ for such periocis at Lender m~~• reyuin:; provideJ, that l.ender ,hall not rcyuire that the amount of
such coveragc cxcccd that amount ut co~•cragc rcquircd to pa~~ ~hc sum~ ucurcd b}' :his ~tortgagc.
The insurance rarrier providing the insurance shall be chusen by Borrower subject to approvat h~• 1_ender; provided,
that such appro~~al ~hall not be unreasonahly withheld. r~ll premium~ on insurancc policies shall !x paid in the manner
provided under paragraph 2 hereof ur, if not paid in such manner, by Borrou~er making payment, when due. direcdy to ihe
insurance carrier.
All insurance policies anJ renewals thereo( shall tx: in form acceptable to Len~er and shall include a stanJard mortgage
clause in fa~•or of and in form acceptable tu Lender_ Lender ~hall have the right tu hold the policies and renew•als thereof.
and Borrowcr shall promptly furnish to Lenc!er all rcncW al notices and all receipts of paid premium~. In the e~•cnt of loss.
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
b~ Borrower_
Unless Lender and Borrower otherw~iu: agrce in writing, insurance proceeds shal! be applied to restoration or repair of
the Property JamageJ, proviJed such restoration or _repair is economically feasible and the security of this Mortgage is
not thereby impaired. lf such restoration or repair is not ccunomicall}' feasiMe or if the security of this Mortgage would
be impaired. the insurance proceeils shall be applicd to the sums secure~ b}~ this Mortgage, vrith the excess, if any, paid
to Borrowcr. 1( thc Properl~~ is abandoned h~• F3ormwcr. or i( Borrowcr faits to respond to l.ender within 30 da)•s from the
Jate notice is mailed b)• Lender to Borr~w~er that the insurance carrier o1Ters to setlle a claim for insurance benefits, Lender
i~ authorized to collect and appl~~ the insurance proceeds at Lender's option eithcr to restoration or repair of the Property
or to ihc sums sc~ureci by ~his Mortgagc.
Unless Lender and Borrou~er otherw~ix: agree in writing, an~• such •rpplication of proceeds to principal shall not extend
or postpone thc duc Jate of the momhiy installments referred to in paragraphs 1 anJ 2 hereof or change the amount of
such installments. II under paragraph 18 hereof the Propert}~ is acyuired h}• Ixnder, all right, title and interest of Borrower
in and to am insu~ance policies and in and to the proceeJs thereot resulting from damage to the Pruperty prior to the s:+le
or acyuisition shall pass to Lender to the e~tent of the sums secured by this ;1lortgage immediately prior to such sale or
acquisition.
6. Presercation and ~tainlenance of Propert~; I.easeholds; C ondominiums; Planned Unit Des•elopments. Borrow~er
shall krep thc Property in good repair and shall not commi~ waste or permit impairment or deterioration of ihe Property
and sl~all comply with thc provisions of any lease if this Mortgagc is on a Icaschold. If this ;~fortgagc is on a unit in a
conJominium or a planncd unit d~velopment. Borrower shall perform all o( Borrower's ubligations under the declaration
ur covenants creating or g~~verning ~he condominium or planned unit development, the by-laws and regulations of the
con~omin~um or planned unit development, and cons~iwent documems. If a condominium or planned unit developrnent
nJer is executed by Borrower and recordeJ together N~~ih this Mortgage, the cavenants and agreements of such rider
shall be incorEwrated into and shall amend and supplement the co~enants anJ agreements of th~s Mortgage as if the rider
~+~rc a part hereof.
7. Prolection ot Lenders Securify. If Borrow~er fails to ~xrform the covenants anJ agreements cantained in this
Atortgagc, or if any action ur proceeding is commenceJ ahich materially affects Lender's interest in the Property.
including, but n~~t limited to. eminem domain. ins~{~~enc~~. cc~de enf~~rcement, or arrangements or proceedings involving a
bankrupt or Jrcrdent. ~hen I.enJer at Lender's op~ion. upon notice to Borrower, n:a~- make such appearances, disburse such
sums and takr such acticn ~c is necessary• to pmtect Lender's imcrest. induding, but not limited to, di.bursement ot
reasonable attomc)'s Ic~s and enlry upun thc Propert~• to makc rcpairs. If Lcndcr rcyuired mortgage inwrancc a~ a
conJition of making the loan secured b~~ Ihis l11~~rtgage. B~~rrowcr shall pay the premiums required to Jrtaintain Such
insuranee in ef~ect until tiuch time ac ~he reyuirement for such insurance terminates in •recordance v-~ith Borr~n+•er s and
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