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Untpo~ Covet+~nn. 8orrower and Lender covensnt and at~ce u follows:
1• 1'~~ne~t ot hi~ciNl ~ lNseat. Borrowc~ shall promp~l~ pay wheo due the p~incipal of and intercu oo the
~ndeMedness evidenced by.the Note. prcpaymeot ar~d lat~ chars~c a~ p~ovided i~ ~he No1e. and the principal ot and intercs~
on any Futuoe Advances securcd by this Mortgage.
2. 14Ns tor Tua a~i lawra~ce. Subject to applicahk law ~.r to a writ~en waiver by 4ender. 8oriower shall pay
to Lende~ on ~he day monthly installmcnts ot principal and ~ni~rc~~ ~rc payable uode~ the Note, until the Note is paid in tull.
a aum (herein "Fuedt:') equal to oK-twef(th a( the yearl~ taa~. and usessmeals which may attain priority ove~ this
Mortsa~e~ a~d ground rents o~ the Pr~npert~r, it any. ~+lus one-~welfth of yesrly premium installments for hazard insurance,
plus oae-twelfth of ycarly premium installments to~ mortgage insuronce, if any, all as rcasc~nably estimated initially and trom
time to time by l.ender on the basis of assestmcn~s and hills and reasonable estimates thercof.
'il~e Funds shall be held in an i~stitution the depoc~tti or accounts ot which arc insurcd or guan~tetd by a Fede~al ot
statt agency (including i.ender it Lender is soch an institution). 1_ender ahall apply the Funds to pay said taxes, asuuments.
insun~ce premiums and g~ound rents 1 ender o~ay not ebarge tor so holding and ap~+lying the Fumic. analy~ing caid account.
or veri(ying and compiling said asxssments a~d bills, unlcss I.ender pays Borrower interest on the Funds and applicable !aw
petmib Ltndrr to m:ke such a charge. Bc~rrower and I.ender may agree in writing at the ~ime ot execution of this
Mortgage that iotercst oa the Funds shall he paid to Borrower, and unless such agrcement is made o~ applicahle law
requira such interat to be paid. Lender shall not be rcquired ta pay Borrower any interest or earni~gi an the Funds. I.endr~
shall aive to Borrower, without charge, an artnual accaunting oI ~he Funds showing crtdits and debi~s to the Funds and the
purpox tor which each debit to the Funds wa~ madc. The Funds are pledged as additional secu~ity (ar thc sums securni
by tAis Mortaage.
If the amou~t o[ the Funds held by LenJe~, together with the future monthly installmen~s of Fundx payable prior to
the due data of taxa. uxssments, insutance prcmiums aod ground rents, shall etcced the amouot required to pay said taxes,
asspstnents, insurance prcmiums and ground rents as they (all due, such excess shall be, at Bo'rrower's opuon, e~ther
promptly rcpaid to Botrowtr or credited to Borrower on monthty instaltmems of Funds. If the amount oF the ~-urtds
held by Lender shall not be sulGcient to pay tua, asx~sments, insurance prcm~ums and ground reots as they fall due,
Borro~ver shail pay to l.ender any amount necessary to make up the deficiency within 30 days (rom the date notice is mailed
by Lender to Borrower requesting payment thereof.
Upon payment i~ full o[ dl sums secured by th~s Mortgage, l_ender sha!! promptly rctund to Bc~rrower any Funds
held by I.tnder. lf under paragraph 18 hereot the Property i~ sold or the Property ~s otherwiso acqu~rcd by l.ender, I.endcr
shall apply. no later than immediately prior to the sale of ~he Propeny or its acquisition by I.ender, any Fund~ held bv
Leode~ at ~he time of application as a credit against ~he sums secured by this Mortgage.
3. Appl~cMios ot paymeats. Unless appticabte law provicks oiherwiu, al! payments received by l.endcr undes the
Note and paragtaphs 1 and 2 hereof sfiall be applied by I.coJer first ~n payment o( amot~nts payable to l.enJer by Borrowrr
under puagraph 2 hercof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
pnncipal on any Futurc Advanocs.
1. Cbarges; Liens. Borrower sl~all pay all tacr~. :+~tetismrnts and ather rharges. finec and ~mptxiUons atlnbutahle t~~
tl~e Property which may attain a pnoriry over ~his Mortgage, and leasehold payments or ground rents, if any, in the manner
prorided under paragraph 2 herco( or. if not pa~d m such manne~, by Borrower making payment, when due. Juectly to the
payee thereof. Borrower shall prompUy turn~sh to Lender all notices o( amounts due under this pa~agraph, and in !he event
Borrower shal! make payment directly. Borroxrr shal! prompUy furmsh to lxnder receip~s ev~denang such payments.
Borrower shall promptly discharge any lien which has prionty over th~~ Mortgage; proviJed, that Borrower shall not be
reqwred to discharge any such lirn w long as B~~rrowrr shatl agree ~n Hruing t~~ the payment of the obl~ga~iun securcd by
such (~en ~n a manner acceptable to Lender, ur shalt in gexxi f:,ith ce,nte« ~uch lirn hy, or JefenJ enlonement oi such lien in.
lega! proceed~ngs which oprrate to prevent the rnfurcement ot ~hc lien or torfe~wrc of the Property or any part thereof.
S. Hazard Insurann. Horrower shafl keep the improvement, n~w erisung ur herca(te~ erected on the PmExrry insurcd
against loss hy fire, hazards included with~n ;he te~m "r~tended cuverage": ax! such other hazards as Lender may reyuire
and ~n such amounts and (or such periodc as l.ender mry reyuirr, provideJ, that !_enJer shall not requ~re tba~ the amount of
such covuage excetd that amount of coverage reqwred to pay ~he tums secured ~by ~h~~ Monaage. -
The ~nsurance carrier providing the insuran.e shall be chosen by Borruwer subject to approval by Lend~r; provided,
that such approval shall not be unreasonahly withhe(d. All prem~umc on insurance policies shaU be paid ~n the manner
provided under paragraph 2 hereof ur. ~! not pa,d ~n such manner, by B~~rrov-er makmg payment, when due, dirccUy to the
insunnce carrier.
All insurancr Ewlicieti anJ renewals therrot ~halt tk m(om~ accrptabk to LenJer and shall indude a standard mortgage
claust in fav~.r of and ~n fnrm aceep~abte to I.rnder. t.ender chalt ha~e the right t~- hc~ld thr {wlicees and renexals thereof.
and Borrow•er shall ptumptly furn~sh to I_ender all renewal noaces and all reccipls of paid premiumti. In the event of lo~~.
Borrower shall give prompi nc~ucc to the inwr.~nce carner ~nd I.ender. I.enJer ma} make pra~t of loss if not made pn~mp~ly
by Borrower.
Unless l.ender artd Borrower o~hcrN:.r agrrr ~n wnUng. imurance pr~:eedc shall txr ~pplied to rcitoration or repair ot
Ihe Property damrged, provided such re.lorat:on or repa~r is econ~~micalh• Ieasible and the securiry of th~c M.~rtgage i~
not thereby impa~red. It wch restorahon or ~epa~r ~s n~~~ rcanum~cally feat~hl~ ur ~( the xcunty of this ~lortgage wouW
be impaired, the insurance pnxee.ls shall oe applieJ t~~ the sums secureJ by this Mortgage. w~th the excess, if aay~, pa3d
to $orrower If the Property ~s abandoned h~ $urnwver. or it Borr~vve~ fa~ls to responJ to I.ender w~th~n 30 days frum ~he
date notice is madcd b} LenJer to Borruwer that the ~murance carrier oiTen to tiettle :~ claim for ~nsurance benefits, I.ender
~s authon~xd t.- colltct and appfy the ~muranre proceeds at I.endcr'~ upt~on euher tn resroration or repa~r of the Pr~pen~
or to the sums sccurecf h}• shis Nortgagc
Unlest Lender and $urr~~wer otherwi.e ~gree in v-rrting. an} such apphcauon of pr~.ceeds to pnnapal ~hall nut e~tend
or pcxtpone the due d:~te of the monthl~ installment~ referred t~~ in paragraph. I ~nd 2 hereo( or change the amuunt of
such installment~. If under paragraph I8 hereof ~he Propert} ~s acywred h~ lxnder, alt nght, tide and ~nterest of Born~wer
in aod to an~ tnsurance polii~es and in ansl to the pruceeds thcreot resulnng from Jamage to the Properl~• prior to thc s:~le
or acquis~t~on shall pass to Lender w the e~~ent ot the tium~ securrd b} thiti 1lortgage ~mmediately prior t., tiuch ~ale or
acqwsition.
6. Presenation aod ~t~iotenance of Property: t.easehulds; ('ondominiuMS; Planned Lnit Ik~etopments. Horrowcr
shall kecp thc Property in g~x~d repair and shall not comroit y~astc s~r perm~~ impa~rment or deterioration of the Prupcny
and shall compl~~ wuh the provis~ot~s o[ any lease if th„ ~tur~g.~g~ ~. un a lc~sch~~ld. 1f this Mortgage is on a un~t in a
condominwm or a planned unit dc~cl.~pmcnt. Borrower tih~ll ~xrl~~rm all ot Borrower's obl~grtions under the declarah~~n
or covenants creaung or guvernmg the condum~n~um or plrnoeJ umt development. the by-laws and regulatiun~ c~( the
condominium or planned umt Jevelui,ment, and .~nstituent ~l~RUnlen~~ It a c~ndominium ar planned unit ~Ie~elopment
nJer i~ executed by Borrow~er and rerorded h~gether u~th thi. M~~rtgage, the cov~nantc and agreements c.( ~~.ich n~l~r
sh:Jl be ~ncorporated into and shall emend anJ ~upplr~ncnt the c~~•rnant~ anJ agreements of th~~ M~~rtgage as i1 the rnier
v-cre a part Fereof.
7. Proteeteon of l,ender's Security. !f Hnrr~~wer teil~ ir ~rt~.rm the rnvenantt and agreements ce~nta~ncd in Ihi~
Morlgage. ur ~f any •rcbon ur prcxeeding ~. c~~mmen.rd ~hicn matcnally .+t(r~t. 1 ender'ti mterr~l in the Pru~xrt~.
including. hut n~~t limited tu. rmincnl domain. ~m~~hcn~~. ~,K1c ~nf~~r~rmrnt, ~~r err~n~~r:~~nt~ ur pr~kccdingt imc~l~ing a
bankrupt or deeedent, then Lender at I ender'ti ~~pt~on, u~xm nc~t+ce ai Korrvx~rr, m~~ rn;,kr tiocn ap~ar.~ncrti, di~hune wch
sums and take such ecUun a~ is nece~.ar} t~~ pr~,tect Lender'c ~nterest. m~lu,l~nc h~it n,~t IimitcJ tu. J~cbursemem ~~f
reawnahle attomey'S ~rcti anJ entry up~`n ~he Pn'Fxrt~ t~~ mal.c rep.~ir~ It LrrJcr rcynirr~f murtgagc inwran~e a~ a
cunJ~ti,:n i~f ~naking thr luan .rcure~f h} Ih~~ M~,r1E.~~r. H~~rr~:acr sh ~II ra~ th~ prcmumt~ tcyu~rcJ t~~ mainL~~r. ~uch
insuranec ~n etfc~t untd wih t~mr a~ thc rry~eucnic~rt f~~r ,uch irt;uran:c trrmin,etc. ~n .~r~e.rdan~r Krth S~~rr~~~rr'. anJ
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