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UNIlORM COVlNAtiTS. Borroww a~d Lende~ covenant and atra u tollows:
1. ~eM of ~ri~efMl a~i i~terrM, eorrowe~ shall p~omp~ly psY when due the principal of aed ietet~e~ on the
indebtednas evide~oed by the Note. prcpsymeot and late chargec a~ p~ovided in Ihe Note. and the priocipal o( and ioteoest
on any Future Advances secured by this Mortsate.
t 1hMi tK T~M ~ I~ara~ea Subject to applicabk law ~~r ~o a written waiver by Lender. so~~ ~n wr
to Lender on ~he day monthly installmen~s o( priacipal and intcrcct arc ~yat+le under the Note. until the Note is paid io tull.
a tum (hsrein "Fund~'~ eqwl to onatwelNh of the yea~l)~ ta~e~ a~xl usasme~ts which may attain pnority over ~his
Mort~a~e. aed ~round ren4 on the Propeny. it aoy. plus one-twel(th of yearly Qrcmium installments tor hazard inwrance.
plus oae-twel(th of yesrly premium installmems (or monga~e insurancc, if any, all as reasonably estimated initially and trom
time to time by Leuder on the buis of assasmcnts and hills and rcasonabk a~imatayheteof.
The Funds shall be held in an ins~itution the deposiu or accounts of which are insured or suaranteed by a Federal ot
state sgency (incltdina L,ender if Lcnder is such an institutioal. I.ender shall apply ~he Funds to paY said tua. sssasments.
insurance ~emiums aod ~round rents. I.ender may not cha~ge lor so holdiog and applyina ~he F~~ndc. analyzinE aaid account.
or verityint aod rnmqlin` said asseuments and bills, unless Lender pays Borrower intercst on the Funds and applicable law
permits l.e~der to make such a charge. Borrowe~ and Lender may agrce in writina at the time ot exccution ot tha
Mortga~e tbat interat on the Fu~ds shall be paid to Borrower, and unless such aareemen~ a made or applicabk law
requirss auch interest to be paid. Lender shall not be rcquired ta pay Borrower any intercst or prnings on the Funds. Ler~d~r
sha1) ~ive to Bonower~ without charge, a~ annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds wu made. The Funds arc plodged u additional ~ecurity tor the sums secured
by this Mortpae.
If the amount ot the Fut~ds held by Lende~, together with ~he future monthly insullments of Funds payabk priot to
t6e due data of tua. atsessmentt. insurance premiums and ground rcnts, shall exceed the amount requircd to pay said taxa.
saeaanents. i~urat~oe Premiums and ground rents u they tail due, such excess shall be. at Borrovrer s opt~on, either
proinptly repaid to Bormwer ~ crodited to Borrower on monthly installments of Funds. If the amount of the Funds
held by I.eoder shdl oot be wt5cient to pay taxa. assessments. insurance premiums ar~d ground renu as they fall due.
Borm~rer shall pay to Lender any smount necessary to make up the deficiency within 30 days trom the date notice is mailed
by Leader W Bornower requatin8 paYment thercof.
Upon paymeat ia full of all sums ~ecured by this Mor~gage, l.ender shall promptly rctund to Borrower any Funds
held by Lender. If under puagraph 18 hercof the Propeny i~ sold or ~he Property ~s othervvise acquired by Lender, Lender
shall apply. no later than immediately prior to the sak o( the Property or its acquis~tion by Lender, any Funds held br
I..eoder at the time of application u a crcdit against the sums secured by this Mortgage.
3. A~lkatioe of Paya~eofs. Unless applicable law provides othenvix. all payments rcceived by Lcnder under the
Note aod patagraphs 1 and 2 hereof shall be appl~ed by I.ender 6rst in paymem ot amounts payable to Lender by Borrower
under puagraph 2 heroof, then to interest payable on the Note, then to the principal of tFx Note, and thco to in~erest and
principal on a~y Futuro Advanca.
1. Crar~a; Lkas. Borrower shall pay all taxes. assessments and ather charges. 6n~s and impositions attributable to
tbe Property which may attai~ a priority over this Mortgage, and leasehold payments or 6round rcnts, if any, in the manner
provided under paragraph 2 hercof or, if not paid in such manner, by Borrower making payment, whe~ due, dircctly to ihe
payee theteof. Borrower shall promp~ly furn~sh to Lenckr all notices of amounts due under this parasraph, and in tl~e event
Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencmg such payments.
Borrower shall promplly discharge any lien which has pnority over th~c Mongage; provided,~fiat Borrowtr shall not be
rcquirtd to discharge any such lien so long as Borrower shall agree in wru~ng to the payment of tht obligatiun secured by
such lien in a manner acceptable to Lender, or sh•rll m good faith contrc~ such lien by, or Jtfend enforcement of such lien in.
legal proceedings which operate to prevent the enforcemen~ of the I~en or forfeiwre of the Property or any part thercof_
S. Huud Inwrance. Borrower shall kcep the ~mprovements oow existing or hereafter erected on ~he Property insurod
against loss by firc, hazards included withm the term "extenckd coverage", and such other hazards as Lender may reyuire
and in such amounts and for such periods as Lender may require: pravided, that 1_ender shall not rcquirc that the amount of
such coverage exceed that amount of coverage required to pay Ihe sums secured ~by ~his Mortaa6e.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided.
t6at such approval shall not be unreasonably withhcld. All premiumc on insuraoce polic~es shall be paid in the manner
provided under paragraph 2 hereof or, if not pai~ in zuch mannrr, by Borrow•er mak~ng payment, when due, directly to the
insunnce carrier.
All insurance policies and renewals thereof shall be in form accept~ble to LenJer and shall include a standard mortgage
clause in favor of and in form acceptable ro l~nder_ Lender shall ha~~e the right to hold the policies and renew•als thereof.
and Borrower shall promptly furn~sh to l.ender all renewal notices and all receip~s of paid Prcmium~. In ihe event of loss.
Borrower shaU give prompt nodce to the msurance carner and l.ender. Lender ma} make proof of loss if not made promptly
by Borrower.
Unless Lender and Borrower othena~+e agree in wnting, insurance proceeds shall be applied to restoration or repair of
the Proptrty damaged, provi~led such restorat~on or repair ~s ernnomically feasible and the securiry of this Mortgage is
not thereby impaired. I( such res~orat~on or repair a not cronomicall}~ feasible or i( the security of this Mortgage would
be impaired, the insurance prc~ceeJs shall be applied to the sums secureJ by this Mortgage, w~th the eacess. if any, paid
to Borrower. if the Propert~~ ~s abandoneci by Borrower, or it Borrower tails to respond to Lender within 30 days from the
date notice is ma~led by L.ender to Borrower that ~he msurance carrier ofiers ~o setUe a claim for insurance benefits, Lender
is aut6oriud ro collect and apply the insurance proceeJs at LenJer's opt~on either to restoraUOn or repaer of ihe Pmpert~•
or to the sums secured by this Mortgage.
Unless [_ender and Borrower otherv-~se agree m wnUng. any such epplication ot prcxeeds to pnncipal shall not extend
or postpone the due date of the monthly in~tallmen~c rcferred tu in paragraph~ 1 anJ 2 hereof or change the amount of
such installmeats. If under paragraph 18 hereo( the ProE.erty i~ acyu~reci by Lender, ali nght, title and iotercst of Borrowcr
in aod to any lhsurance policies and in and to the proceeds thereof result~ng from damage to the Properly prior to th~ sale
or acquisition shall pass to Lender to the extent of the sums secured by this ~tortgage immediately prior to such sale or
acquisition.
6. Preservation and ~laintenance of Prope~ty: Leasehuids; ('ondominiums; Planned l:ail I3e~•ebpments. E3orrov-•er
shall keep the Property in good repair and shall not comro~~ Kastc or perm~i ~mpairment or deterioration of the Property
ud shall comp!} with the provisivns of any lease i( th~~ tifortg.~ge ~ti ~-n a leaschold. !f this Mortgage is on a unit in a
condominium or a planned umt development, Borrower shall Fxr(~~rm all of Borrower's ob6geuons under the declarahvn
or coveoants creadng or governmg the: condommium or planned umt development, the by-laws and rcgulationc of the
condominium or planned unit developmen~, and constituent Jocument.. If a condominium or planned unit de~•elopment
riJer is executed by Borrower and recorded t~~gether wvth thi~ Mortgage, the covenants and agreements of such riJer
shall be incorporated ~nto and shall amcnd and supplement thc co.enants anJ agrcemcnts ot th~s Mortgage as if the riJer
were a part hereof.
7. ProteHioo of Ixnders Securfty. If BarmKCr (a~l~ u~ perl~~rm the covenants anJ agreements contained in th~c
Mor~gage. or if any actwn ~•r proceed~ng i~ commrnce.i uhi~~ materially afiec~s I.enJer's interest in the Propen~~.
i~cluding, but not Gmited to, eminent domain, inti~lvencc, a~e enforcement, c~r arrangements or proceedings invoh~ng a
bankrupt or decedent. then I.ender at 1_ender'~ opt~on, upon no~ice to Borrower, ma~ make such appearances, disburst such
sums and take such action as is neceti~ar}• w prrnect l.ender's m~erest. including. but not hmned to, disbursement of
reasonable al~omey's tees and entry u~n thc Propen~~ to makc rcpair~. lf I.cnder requircJ mortgage inturance as a
condiuon o( makmg the loan ~ecureJ by this ~lortgage. Bi~rrr.v-cr sh.dl pay the premiums requ~red to mainta~n such
insurance in e(fect•untd such time as ~he rcyuirement for wch ~nsuran:e terminates m accordance v-•~th Borrov-er'c anJ
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