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UNIFORM COVQNANTE. Bortowu and Le~der covenant and a~~a ss tollows:
1. lqweN ot tri~clpl as~ bterat. Bonower shall prc~mpd~• pay when due the principal 01 arnf iMercst oo tAe
indebtedneu evidenced by the Note, prcpayment and late chargce ac provided in the Note, and the priocipal ot and intercst
on soy Futuro Advances socured by this Mortgage.
2. Fti~ tor T~p aad INwn~ce. Subject to applic~ble law .~r to a writ~en waiver by Lender. BorroM-e~ sha~~ paY
to Lender on ~he day mon~hly installments of principal and ~n~~rc~t arc payable under the Note, until the Note is paid in tull.
a tum (hercin "Funds") equal to one-tweltth ot the yea~l~ ~asc. a~x! assessments which may attain pnority over this
Mott~aje, and around rents on the Property, if any, plus one-twelfth ot yea~ly premium installments [or hazard insurance,
plus one-twel[th of yearly premium iostallments (or mongage insurancc, it any, all as rcuonably estimated initially and toom
time to time by Lender on the basis of asxscmcnts and hills and reax~nablt atimata thercof.
'il~e Funds shall tx held in an institutic•n the deposits or accounls ol which are insurcd or guanntetd by a Federal ot
state agency (including Lendet if Lcnder is such an institution). I.ender ahall apply ~he Funds to pay said ~axes, asseuments.
insurance Qremiums and ground rcnls 1 ender may no~ charge Ior s~ holding and applying ~he Fimds. analyzing caid account.
or verifying and compiling said asxssments and bills, unless I_ender pays Borrowe~ interat on the Funds and applicable law
permiu Lender to make such a charge. Fiorrower and Lender may agret in writing at ~he time ot eXaution o( this
Mortgage that interest on the Funds shall t~c paid to Borrower, and unlas such agreement is made or applicable law
rcquircs such interest to be paid, Lender shall not be rcquired to pay Borrower any interat or tar~ings o~ the Funds. Lencier
shall give to Borrower, without charge_ an annual accouoting af the Funds showing crcdits and debits to the Funds and the
purpose for which each debit to the Funds was made. Tl-e Funds are pledged u additional ucurity for_ ~t~e sums secured
by this Mortgage. '
If the amount ot the Fun~is held by Lender, toge~her w~th the future monthly installments of Funds payable prior to
the due dates of taxes, asseuments, insurance premiums and ground rents, shall exceed ~he amount requircd to pay said taxa,
assestments, insurance premiums and ground rents as ~hey fall due, such excess shall be, at Borrower's opaon, e~ther
promptly repaid to Borrower or credited to Borrower on momhly ~nstallments of Funds. If the amount ot the ~unds
held by Leoder shall not be sufficieot to pay taxes, assessments, insurance prcm~ums and ground rcnts as they fall due,
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by l.ender to Borrower rcquesting payment ~hereof.
Upon payment in full of all sums secured by this Mortgage, l.ender shall promptly retund to Borrower any Funds
held by Lencicr. If under paragraph 18 hercof the Property ~~ sold or the Property ~s otherwise acquircd by t_ender, I_ender
shall apply. no later than immediately prior to the sale of the Property or i-s acquisit~on by Lender, any Funds h~ld bv
Leader at the time of application as a credit against the sums secured by this Mortgage.
3. Applicriion of Payments. Unless applicable law provides otherwisc, all payments received by Lender undcr the
Note and parag~apht I and 2 hereof shall be applied by 1_enJer first in payment of amounts payable to Lender by Borrower
under puagraph 2 hercof, then to interest payable on the No~e, then to the principal of the Note, and then to interest and
principal on any Future Advances.
4. Cbarses; Lienc. 8orrower ~hall pay all t:~tie~. atisessmcnts and othcr rharges. fines and ~mpositions aunbutable to
the Property which may attain a priority over this Mortgage, and leasehold payments or grouna rents, if any, in the manntr
provided under paragraph 2 hereof or, d not pa~d ~n such manner, by Borrower making payment, when due, dircctly to ihe
payee therco(. Borrower shall promptly furnish ta Lender ali no~ices ot amounts due under th~s paragraph, and in the event
Borrower shall make payment directly. Borrower shall promp~ly furn~sh to Lender receipts evidencing such payments.
Borrower shall promptl}~ discharge any lien ~hich'hac pnonry over ~hic Mortgage; provided, that Borrower shall not be
rcqwred to d~scharge an}• such lirn so long as Burrower shall agrre in wnt~ng t~~ the payment ot the obi~gatiun ucured by
such lien in a manner acreptablk to Lender, or shall in g«xi fauh conte~t wrh lie~ hy, or defend enforcement of such lien in,
Iegal proceedings wh~ch upc~rete tu prevent the rnf~~reement ol~ the hen or forteuure of the'Property or any part thereof.
S. Hazsrd I~aurance. Bnrrower shall keep the improvemrnts now e~icUng ur here~fter erected on the Prope~ty insured
against loss b~• fire, hazard~ inciuded with~n the term "rxtendeJ coverage", a:~d such other hazards as 1_ender may reyu~re
and ~n such am~~unts and (or such periocls ac Lender may reyuire; provideJ, that LenJer shall not require that the amount o[
such coverage eccrrd that amount of coverage requ~red to pay the sums cecured ~by this MortEage.
The ~nsurance carner providing the iosuran~e shall be chosen by Borrower subject to approval by Lender, ptovsded,
that such approval tihall not be unreasonahly withheld. All prem~om~ on insurance r+olic~es shAll be paid in the manner
provided under p:~ragraph 2 hereof ur, if not pai~i in tiuch manner, by Borrower mak~ng payment, when due, dircctly to ihe
~nsuranct carricr
All incuran~~ ~~~Lc~c, and renewals thenot shall he in form ~cceplabir to Lender and shall ~ndude a slandard mortgage
rlau,e in faw~r c~f and ~n form acceptable to Lender_ Lender chall have the right to hold the policies and renewals thereof.
and Borrower ~hall pruinptly furn~sh to Lender aU renewa) notic_~ and aU receipts of paid premiumc_ In the event of loss.
Borruwer ~h~ll ~ne pr~+rnpt ne•uc~ tu the ~n~uran~e c:~rner anJ I.ender_ LenJer ma}• make pr.x~t of loss ~f not made prompll}~
by Burmwer
Unlesc Lender and B~~rr.~wer otherN~,r agree in wnUng, imarence prcxeeds shall be applied t~ restoration or repair of
the Propert~~ damaged, prov~Jed w~h re.lurat~on or repau ~s ecooomically~ feasible and Ihe seeuriry of th~s Mortgage i~
not thereby impaired. It tiuch rert~KaU~~re or repair is m~t rconumicrll}• feasible or if Ihe secunty of this Mortgage would
be impaired. the ~nsurance proceeds ch~ll be applied to ~he sums secureJ by this ~tortgage. with the excess, if anp, paid
ro Borrowcr It the ProEx:rt~ i~ aband.mcd h~ Horrowcr. or it &~rmwer fails t~~ retpond to 1_ender within 30 days from the
date nohce ~; ma~lcd b} 1.ender to Borruwrr that the insurance rarr~cr otfen to set~le a cla~m for insurance benefits, I_ender
ic auth~~n~ed ~~, c~iilect an~l .~pplt• the imuran.e proceeds ~t Lender's opt~un eithcr to rptoranon or repa~r of the Pmpem•
or to the sum~ ucured hy this 4fortgage. '
Unle~s L~nitr+ and Hur~:,w~r olhen+~.e .+gree ~n v-nhng. any s~nh applic~tion ~~f pnxeeds to pnncipal sha11 not ertend
or postp~mc thP ~iuc Jate ~f the m~~nthh~ inuallmcn~c rcfcrrcd ~o m para~craphti I and 2 hcreo( or change the amount of
such installment~. I( under paragraph Iti hereof the Property u acywreJ h~ L.enJer, all r~ght, tille and interest of Bormwer
~n and to an~ A~~ur~n_r poli~.i~s and m and to the proceeds thereof resul~ing from damage tu the Property prior to th~ sai~
or acyws~t:un shall pass to Lender t.. the e~tent of the ~um, secured by this :~lortgage immediately prior to such sale or
a~qwsition.
6. Presenatiun aod ~1~intenance of Propert~: Leasehulds; ~'ondominiums; Planned Unit Dt~~elopments. Borrowcr
sh.~ll keep thc Pr~~pcrt} in g~xx~ e~pair and shall not comrpit y-as~e i~r permu ~mpairmem or detcrioraUon of the Property
and shall compl~ with thc proviti~ons ol any ~ease i( th~s Martgage ~; on a kasch~ild. If Ihis Mortgage is on a unit in ~
condominium or a planned un~t Je~elupment. l3orrawer ~hall ~+ert~~rm all v( Borrower's obhgauons under the declarah~m
or covenants crrating or guvernmg the cond~~mm~um or plannrd umt devel~~pment, the by-laws and regulalionc of the
con~lominwm or planned unit de~•el~~pn~ent. .~nd c~~mtituent J~xumem~ If a cundominium or planned unit Jevelopment
nder ~s e~ecutcd by Borruv-rr and rec~.rdeJ tuKether w~th th~~ M~~ngage, the covenants and agreements of ~uch ndcr
shall be mcor~~r~te~i ~nto and shall amend anJ s~•-,plrment the co~enants anJ agreements of this Mortgage as if the nJer
~rr: a part Fereof.
7. Protatiun o( I.enders Security. If B~~rrower f.~~l~ t~~ Fxrf~~rm Ihe cm•enant~ anil agreemems contained in th~s
Mor~gage, ur ~( any~ a~tiun ~~r prcxeeJ~ng ~~ ~~-mmence~l whicn materiall} efiect~ I.ender's mteretit in the Pmpert}~,
including, hut m~~ lim+ted tu. em~nem dum:un. ~r~ti~~henr~, c~x1e entorcement. ~+r arran~;ements or pr~xeedings invol.ing a
banknip~ ~~r deirJent. then LenJer ~t I_ender'. ~~pt~on, up~~n not~ce ~o Borrowes, ma~ m:~ke ~urh ~ppearances, dishu~se such
sumti anJ tale such a~ti~~n .;~ ~s nere~~ary tu pmtect I.ender'c mterest. mclud~ng. bu~ not lim~ted to. di~bursement of
reasonahle att~~rne~'~ frcti anJ emry upun Ihe 1'mperi}• t~. mal,c rrpe~r~ If I.rnder rcyuired mortgage incurance ac a
condiu~~n uf mai:ing Ihc luan ucure.l b} th~~ ~1~~rtg.+gc. B~~rn:NCr sh ill pay lhr premiums require~ to mainta+n surh
inwrance m rlte~t until wch time a~ the reyu~rement for wch imuran;e terminate~ ~n aecordanee w~-th Borro~er's and
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