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UNIPORM COVHNANT3. 8orrowe~ sed l.ender coveoant snd ssrce u tollows:
1. la~we~t ot l~i~clNl a~ lNerest. Borrower shail promptly pay wheo due the principal of and interest on the
~ndebtedness evidenced by the Note. Prepayment and late chargec ac p~ovided in the Note. and the principal ot and intercs~
on any Futuro Advances securcd by this Mongage.
2. f4~i tor Tua ~d I~a~r~sce. Subject to applicabk law o~ to a written waiver by Lender. Borrower shall pay
to Lender on ~he day monthly ~nstallments ot principal anJ m~~rcc~ arr payahle unde~ the Note, uNil the Note is paid in tull,
a tum (hercin "Funds") equal to one-tweltth ot the 2rea~ly taac. and assessme~ls which may attain pnority over this
Mottsase. and `round rcnts on the Property, it aoy, plus on!-tweltth of yeatly premium installments for hazard insurance.
plus one-twelfth of yearly premium installmenls tor morlgage insurancc, if aoy, all as rcuonably es~imated initially and trom
time to time by Leoder on the basis ot ~ssescmcnts anJ hills and rea~onabk estimates thereof.
The Funds shall be held in an institwion the depocit~ or accounts of which a~e insurcd or guara~teed by a Federal ot
state agency (iocluding Lender if Lender is such an institutionl. I.ender ahall apply Ihe Funds to pay said ~axa. asseumentt.
insurance premiums and grouod renls. 1 ender may no~ charge tor so holding and apF-tying ~he ~~~ndc. analyzing said account.
or verifying and compiling said assessments and bilh, unless Lender pays Borrower interat on the Funds and applicable law
permiu Lender to make such a charge. Bc~rrower and l.ender may agroe in writing at ~he ~ime ot execution of this
Mongage that inte~at on the Funds shall be paid to Borrower, and unless such agrcement is made or applicable law
requira such interat to be paid. Lender shall nat be rcquired to pay Borrower any interat or tarnings on the Funds. Lcnder
shall givt to Borrower, without charge, an annual accounling of the Funds showing credits and debits to the Funds and the
purpoae (or which eaeh debit to the Funds wu made. Tht Funds are plodged u additional ucurity for the sums secured
by this Moctgage.
if the amount o[ the Funds held by Lender, together w~th the tuture mo~thly installments of Funds paya~le prior to
tAe due data of taxes, assessments. insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
asseaarnents, insurance premiums and ground rents as they tall due, such excess shall be, at Borrower's option, either
pranptly ~epaid to Borrower or crodited to Borrower on momhly installments of Funds. !t the amount of the Funds
held by Lender shall not be suf6cieat to pay tues, assessments, insurance prcm~ums and ground rents as they tall due,
Borrower shall pay to Lender any amount nocessary to make up the deficiency within 30 days from the date notice is mailed
by Lender to Borrower requesUng payment thereof.
Upon payment in full of all sums secured by this Mortgage, l.ender shall promptly rctund to Borrower a~y Funds
held by Lender. lf under paragraph 18 hereof the Property i~ sold or the Property ~s whervvise acquircd by [_ender, I.ender
sbdl apply. no later than ~mmcdiately prior to the ule of the Property or its acquisition by l.ender, any Funds held bv
l.ender at the time of application as a c~edit against the sums secured by this Mortgage.
3. Applicstion of Paymeats. Unless applicable law provida otherwise. all payments received bv Lendtr under the
Note and paragraphs 1 and 2 hereof shall be appl~ed by I.ender first in payment of amounts payable to Lender by Borrower
uader ~~aragraph 2 herco(, then to interest payable on the No~e, then to thc principal of the Note, and then to interest and
pnncipal on a~y Future Advances.
4. C6sr~es; I.ierts. Borrower chall pay all ta~e~. a~sescments and other charges. 6nec and impotitions aunbutabk to
the Property which may attain a pnority over ~his Mor~gage, and leasehold payments or gmuna rents, if any, in the manner
pmvided under paragraph 2 hereo( or. ~f not pa~d ~n such manner, bp Borrower making payment, whe~ due, dircctly to the
payte theteof. Borrower shall promptly furn~sh to LenJer atl not~ces of amounts due under ihis paragraph, and in the event
Borrower shalt make payment direcUy, Borrovrer ,hall promptly furn~sh to l.ender receipts evidencmg such paymeots.
Borrower shall promptly discharge any lien which has pnonry over th~c Mongage; provided, that Borrower shall not be
rtquutd t~ d~scharge any such lien so long as Borrower shall ~gree in wnting t~~ the payment ot the obligatiun secured by
such lien ~n a manner acceptablc ~o Lende~, or shall in g~x~d faith con~est ~uch lien by, or defend enforcement of such lien in.
legal procced~ngs which operate to prevent the en(orcement of ~he I:en or forfeiture of the Property or any part thereof.
S. Hazard Insurance. Horrower shall keep ~he ~mprovements no.. eaisting or hereafter erec~ed on the Property insured
against tocs by fire, haurds included wi~h~rs the term "eitenJed coverage". and such other hazards as l.ender may reyuir~
wd in such amounts and fnr such periods as I.ender may reyuire; provided, that 1_enJer shall rot rcqui:e that the amount of
such coverage ecceed that amount of caverage reqwred to pay ~he tums secured ~by ~his Mort6age.
"I?~e msurance carricr providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
that such approval shall not be unreasonably withheld. All prem~ums on insurance polic~cs shall be paid ~n the manner
prov~ded under paragraph 2 hereot or, i( not p•ri~i in such manner, by Borrower mak~ng payment, when due, dircctly to the
insurance carr~er. ~
All insuran~r puhcie, and renewals therrof shall be in torm acceptable to LenJer and ~hall include a sland~rd mortgage
clause in favur ~f and m(urm acceplable tu Lender. Lender chali have the right to hold ~he policies and rene~als thereof,
and Borr~~~er ~hall prumptly [urmsh to i_ender all rencw~al noUres and all receipts o[ paid premium~. !n the event of loss.
Bormwer ~hal! g~~e pn~mpt n~~hr~ tr the inwrance carner and Lender. LenJer may make pra~t of loss rf not made prvmplh•
by Borrower.
Unless Lender and BorruMCr oth~rw~u agree in wnt~ng. ~nsurance Proceeds shall be applied to restoration or repair of
the Properry damaged, prov~Jed ~uch re~lorat=on or repair is economicall}' feasible and the s~curity of th~s Mortgage is
not thereby impa~red. lf wch retitoralu~n or repair is n~~~ rcc~nomicalh• (easible or bJ the secunty of Ihis Mortgage would
be im~aired, thc ~nsurance pra:eeds shall be applied to the sums secured by this Mortgage. w~th the ezcess, if a~y, pa-d
to Born,wer It the Propern ~s ahandoned hy Horrower, or ~t Bormwer fa~ls to respond to Lender w~thin 30 days from the
Jate noiice ~s mailed b~ Lender ta Borrower that ~he insurance carrier otiers to settle a claim for insurance benefits, l.ender
is authrrized a~ c~~llect acsJ -~pply the ~murancr proceeJs at Lender's optiun either to restorauon or repa~r of the Propert~
or to the sum. ~e.ured by !his Motigage.
Unless Lcn~rr and Rorruwer utherwix agree in v-nting. any such appliwtion ~~f pnxeeds to pnncipal shall not extend
or p~stpune Ihe ~iue datc ~~f thr m<~mhly installmentc referred ti~ in parag:apM I anJ 2 hereof or change the amount o(
such ~nstallments. It unJer paragrap:~ 18 hereo( the Property is acyuued b~ l,ender, :+II nght, tide and interest of Borr~.wer
in aod to an~ lnsur.~nce policies anJ in aod to the proceeds thereof result~ng from Jamage to the Property prior to th~ Sale
or acquis~hon shall pa~+ to Lender tu the e~tent uf thc surni ~ecured by 1h~s :~lortgage ~mmediately prior to such sale or
acqu+sitior..
6. Presenation ~nd ~1un!enance of Property; I.easthulds; ('ondominiums; Planned Unit DevelopmeMs. Borrowcr
shall keep thc Pr~~~+en} in guod rrpair and +hall not comrvit riasle or permit ~mpairment or deteriotation of the Property
and shall cuRipl~ urth the provisions of anp lease ~1 this :~lortgagc i~ un a Ieasch~~ld. I( this Mortgage is on a unit m a
condominium or ~ planned umt de~riupmrnt. Borrowcr ~hall perf~~rm all o( Bormwer's obl~gations under the dcdaratum
or covenants cre~ung ~~r guvermng the condi~minium ~~r planncd unil develupment, the by-laws and regulationc of the
condominium or planncd unit devcli~,,mcnt. and rnnstitucnt dcxumcni~. I( a cunJominium or planned unil dcvclopmcnt
nder ~c e~ecwcd b~ Borrower and rea,rded tuge~her wrth th~ti Me+rtgage, the covenants and agreements of such ndcr
sball be mcor~~rated ~nto and sh.dl emend anJ wpplrment the cu.enants anJ agreements of this Mortgage as ~f the nJer
were a part F,ereof_
7. Protection of I.enders SecurSty. If R~rri~wer (ail~ ti~ per~urm the covenant~ anJ agreements contained in th~c
Mortgage, ur if any acl~on ~~r pr~xreding i~ cummenre~i which m~leriall}~ affrcts Len~ler'ti intere~t in Ihe Prc~pert~.
tncludmg. hut n~~t l~m~ted tv. rminent dom:+m. mu~lrency, ax3e rntorcemcnt. c~r arrangements c~r pri~ceedings imohing a
banknipt or Je~eJem. thrn I.ender at LenJer'i ~+puon, uEwn not+ce to Hurrow•er. ma} make such appearanceti. dishur~e wch
sums and ta1.e~ such a:uun ~~ is necc~tiar~ h~ pmtect Lender'c mtereu, including. but not limited to, disbursemenl of
reasonahle atic~meq'~ Ic~ti end en~ry uM~n the Proper~~• ~e~ mal~e rcpeirti. I( I.ender reyuircJ mortgage in~urance a~ a
conJiUun ~~( mak~ng !hc loan ~ecured b} thi• :11~~rtgagr. B~.rmwcr sh.dl pa)~ ihc prcmnnns rcq~nreJ fo mainta~n tituh
~ruur~nce ~n rtte~~ unul ~uch ume ati tFx; reyuiremsm (~r .uch m;uran;e termmate~ m accordance wi~h Borr~~~er'~ anJ
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