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UNIFORM CoVEN~NTS. BorrowC~ and 1_enJcr cuvenant and ag-re a~ fallows:
1. Payauat of Priacipd and lateresl. ~rrowcr ~hall prump~l~ pay Nhcn due thc principal ~-( and interest on Ihc
indebtedness evidenced by the Note, prepayment and late charge~ a~ pmvided in ~he Nate, and Ihe principal ot and interes~
on aay Futurc Advancet securcd by this Mortgage.
2. Irnads tw Tua and iawraace. Subject ~o applic:,bte I:IVY l~f ~o a w~ritten waive~ by 1_ender, Borrawer shall pay
to Lender on ~he day momhly installmems of principal and ~m~~rr.t arr payablc unJer ~i~c Notc, until the tiote ~s paid in full,
a aum (herein "Funcis") equal to one-twelfth of the ycarl~ ta~r. an~i as~es~ment~ which may attai~ priority aver ihic
Mortgage, and ground rt~u on the Pooperly, if any, plus ~~oc-tw•cl(th ol y~arly prem~um installmcnts for hazard insura~ce.
plus one-twelfth of yearly premium installmentc (or mortgage insurancc. i( any, all as reasonably cctima~ed initially and trom
time to time by Le~der on the basic ot assc~timcnts anJ hilk and rea.unahle es~imates thercot.
77~e Funds shall t+e held i~ an insii~uti~-n ~Fx: depo„t. ~r accuun~s ot which are insured or guaranteed by a Federal or
state agency (including l.ender if LenJer i+ ~uch an inslitut~on 1. I.c~der ahaU ~pply the Funds to p~)' ~aid taxes, assessmrnts,
insunnce premiums and g~ound rents 1 ender ~rr~ not rhargc lor u. hoWing and applying the Fundc. analy~ing said acc~~unl.
or verifying and compiling said asse~smems anJ bilh, unlcsti Lender pa~. Borrower inlerest on the Funds and applicable law
permits Lender lo make such a charge. Rorrower aod Lender may agree in writing at thr lime of execul~on of this
Mortgage that intercst ao !he Funds shall he ~a~d to Borruwer, and unless such agreement is madc ~~r applicable law
rtquira such intercst to be paid, Lender shall no~ he requ~red to pay Barrowcr •rny interest or carnin~;ti on the Funds. Lendcr
shall give to Borrower, without charge, an annual accuun~ing of ~he Funds showing credits and debils to the {=unds and the
purpost for which tach debit ta Iht Funds was madc. The Funds are pledged as additional securily for the sums secured
by this Mortgage.
If the amount o[ the Funds held by LenJcr, t~~gether with the futurc monthly instalhncnts ot Fund~ payab:c prior to
the due dates of taxes, assessments, insurance premiums and grounJ rrnts, shall e!cceed the amount reyuired to p:~y ~aid taxes,
asspsme~ts, insurance premiums and ground rents as they fall due, such excess thall be, ~t Horrower's op~u~n, either
pranptly repaid to Borrower or credited to Borrower on monthly inctallments of Funds. If thc amount of thc Funds
held by Lender shall not be sufTicient to pay taxes, assessments, insurancc premiumc anJ ground rents as thcy fall due.
Borrower shall pay to I.ender any amount necessary ta make up the deficiency within 30 da}'s from ~he date notice is mailed
by L.ender to Borrower rcquesting payment thercof. ~
Upon payment in full of all sums secured by this Mor~gage, l.cndcr shall promptly retund to Borrower any Funds
held by Lender. If under paragraph 18 hereof the Property i+ sold or thc Propcrty is othervvisc acquircd by Lendcr, Lcnder
s6dl apply. no later than immediatcly prior to the sale e( the Propcrty or its acquisition by I.ender, any FunJs held by
Ltoder at the time of applicaUon as a crcdit against the sums secured by th~s Mortgage.
3. ApplicMion of Paymeatc. Unlecs applicable lave provi~es otherwice, all paymen~s received by Lender unJer the
Note and paragraphs I and 2 hereof shall bc applied by Lender first in pa}•mcnt o( amuunts pay:~ble to (_cnder by Borrowcr
under paragraph 2 hereof, then to intcrest payablc on thc Note, then to the principal af thc Notc. :+nd thcn to interest and
principal on any Future Advances.
4. C6ar~es; Liens. Bc-rrower tihall pa}~ all t~xe~. a~ustmcnts and other charges. fines and impositions auributable to
We Property which may attain a priority over thi~ !~lortgage, and leaschold payments or ground rents, if any, in the manner
provided under paragraph 2 hereo( ar, if not paid m such manner, by Borrowcr making payment, when due, directly to ihe
payee thereoL Borrower shall promptly furnish to LenJer all notices of amounts due under this paragraph, and in the event
Borrower shall make payment d~rectly, Borrower chall prompdy (umish to l.ender receipts evidencing such payments_
Borrower shall promptly discharge any lien w~hich has prionty over this Mortgage: provicied, that Borrower shall not be
required to discharge any such lien u~ long as Borrower shall agree in w ritrog to the payment ot the obligatiun ucured by
such lien in a manner acceptable to Lender, or sl~all in goexi faith conte~t such lien by, or JefenJ enforcement ot such lien in,
legal proceedings which operate to prevent the enforcement ot ihe I~en or torfeiture of the Property Qr any part thereof.
S. Hazard Insurance. Borrower shall keep the improvemenls now existing or hereafter erected on the Pmperty insured
against loss by fire, hazards included withm the term "e~tendeJ coverage", and such other hazards as Lender may reyuire
and in such amounts and (or such periods as l.ender may reyuire; pro~ided, that Lender shall not rcyuire that the amount o(
such coverage eaceed that amoum of caverage reqwred to pay the wmti cecured ~by ~his Mortgage_
'Il~e insurance carrier providing the insurance shall be chosen hy Borrower subject to approval by Lender, prQVided,
thal such approval shall not be unreasonably withheld. All premium~ on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or. ~f not paid in such manner, by Borrower making payment, when due, directly to the
insurance carrier.
All insurance Ewlicies and renewals thereof shatl be in form acccptablr to Lender and shall include a standard mortgage
dauu in favor of and in form acceptabk to I.ender. Lendcr shall have the right to hold the policies and renewals thereof,
and Borrower shall promptly furnish to 1_ender all rencwal notices and all reccipts of paid premiums. In the event of loss.
Borrower shall grve prompt notice to ~he ~n~urance carrier and I.ender. LenJer may make prcx-f of loss if not made prompdy
by Borrower.
Unless Lender and Borruwer othcrHi.r agrcc in wnUng. insurance pnx.ecds shall bc applied to restoration or repair of
the Property damaged, prov~Jed sarh rc~torauon or repair is economically feasible and the security of this Mortgage ic
not thereby impaired. !f such resroratii~n or repair is n~~t rcunumic~lly feaciblc or if the security of this Mortgage wauW
be impaired. the insurance proceeds shall be applied to the sums secured-by this Mortgage. with the excess, if any, pa~d
to Borrower. If the Propert}~ n ahandoned hy Borrowcr, c.r it Horrower (ails ~o respond to I_ender within 30 days irom the
date notice is mailed by Lender to Borrawer that the ~nsur~nce carner otTen ~o settle a claim for ~nsurance benefi~s, Lender
is authorizeci to collect and aPply ~he inwrance pn-ceeds at Lendcr's optiun either to restoration or repair of the Pmpen~
or to the sums sec:ured by this Mortgagc.
Unless Lender and Bor~ower othervvix agrec in writing, any su~_h appliration of proi-eeds to prmc~pal shall not c~tcnd
or postpone the due d~te of the mon~hly installmeMs rcferred t~~.in paragraphti I anJ 2 hereof or change Ihe amount ot
such installments. I( under paragraph Iti hereof the Propert~• ~s acywred h~ l~ndcr, all right, tidc and inierest of Borrowcr
in aod to an)• insurance policies and in and to the proc;eeeis thereuf resulung from damage to the Property prior to Ih~ sale
or acquisition ahall pass to Lendcr to the e~tem ut the ~ums sccured b} th~s ~lortgage ~mmediately prior to such sale or
acquisition.
6. Preservation and ~tainfenance of Property; I.easehulds; ('ondominiums; Planned Uni! Developmenls. Borrow~cr
shall keep the Property in good repair and shall not com~p~t waste or permit impairment or deterioration ot the Property
and shall comply with the proviswns of any lease if thn M~~r~gage ~, on a leaschold. !f this Atortgage is on ;~ unit in a
condominium or a planned unrt development, Borrow~er tihall pertorm all of Borrower's obl~gat~ons under the declaratwn
or covenants creatmg or governing the condominium or planned unit development, the by-laws and regulation~ of the
condominium or planned unit devclopmenl. and constiwcnt d~xumcm~. If a cc~ndominium or planned unrt dcvclopmcnt
rickr is executed by Borrower and recorded t~~gether w~th this Mnrtgage, ~he covenants and agreements of such rider
sball be incorporated into anJ sh~ll emend and supplcment the co~enants and agreements of thic Mortgage as if the riJer
were a part heroof.
7. Protection of Leode~'s Securftv. if Borrower faik to perform the covenants and agreements rnntained in this
Morigage, or if any action or proceeding ~s commenced which ma~erially afiects LenJer's interest in the Property.
including, but not limited to, eminent domain, incc-lvency, code en(~rcemcnt. or arrangements or proceedings invol~•ing a
bankrupt or decedent, then I.ender at Lender's option, upon notice to Bor~ower, may make such appearances, disburse such
sums and take such action as is r~ecetsar}~ to protect Lender's ~merest, includ~ng, but not limited to, disbursement of
reuonablt attorney's fees and en~ry upon ihe Property to makc rcpairs. lf I.cnder rcyuircd mortgage incurance as a
condition of making the loan- secured by this 6lortgage. B~rn~wer shall pay the premiums required to mainta~n such
insurance in eRut until such time as thc rcquirement for such msurance terminates in accordancP with Borrower's anJ
8'ICIRf 34fi P~~~E 41J~7
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