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Untrqw Covew--+n. Borrawer snd lende~ covenam and a~ree u[ollows:
1. tywe~f ot hi~clMl a~/ lNereN. Bo-tower shali promptly pay whcn d~~e the principal ol and interest on thc
~ndebtedneu evidenced by the Note, prepaymeot snd Iste charge~ a~ providod in the NMe. a~d the principal of and intercst
a~ aoy Future Advances secu~ed by this Mortga=e.
2. F~i fot Tues ni Iw~s~ce. Subject to applicabk law .-r to a written waiver by Lender. Botrawt~ sh~ll pay
to Lender on ~he day mot~thly mstallments of pnncipal anJ in~~req .~~c payable und~r the Note. until the Note is psid in tull,
a ~um (herein "Fendt") equa! to one-tweltth af tAe yearl~ tasc. anJ aisessmen~s which may attain pnority over ~his
Mort~a~e, and ~round re~u oo the Pmpcrty, it any. plus one-twelf~h ol yearly prcmium installmeots for hazard insurance,
plus onatweltth ~t yearly premium installments (or mortgage insurancc, if any, all as rcasanably estimated i~it~ally and from
time to time by [.endtr an the buis of assescmcnts and hills and rea~onablt aumata thercot.
71~e Funds shall be held in an insli~ution the depos~t. or accoun~s ot which are insured or guanntced by a Fede~al or
state agency (including l.ender if L.ender is such an ins~uu~ionl. I.ender ahall apply the Funds to pay said ~axes, assessments.
insuranee prcmiums and graund ren~s t.ende~ may na~ charge tor so holding and ap~+lying the Fnodc. analyzing ~aid account,
or veritying and compiling said assessments and Aills, unless l.ender pays Borrower interest on the Funds and applicabte law
permits Leoder to make such a charge. Bc-rrower and l.ender may agree in writing at the time ot tzccu~ion of ihis
Mort~age that interat o~ the Funds shall be paid to Borrower, and unless such agreemen~ is made or applicable law
rcquira such interest to be paid. Lender shall nat be nquircd ~a pay Borrower any iotercst or earnings on the Funds. t_endcr
shall aive to Borrower, without charge, an annual accounting af the Funds showing credits and debits to the Funds and the
purpoae for which taeh debit to the Fundc wa~ made. The Funds are pledged as additional secunty for the sums secureei
by tAis Mortgaae.
lf. tbe amount ot the Funds held by l.ender, together with the future monthly instaqments of Funds payable prior to
t6e due data of taxa. assessments. insurance prcmiums and ground rents, shall excecd the amount required to pay sa~J taxes,
atsqsments. insurance premiums and ground rtnts as they talt due, such excess shall be, at Borrowei s opl~on, e~thtr
promptly repaid to Borruwer or credited to Borrower on momhly installments of Fu~ds. I[ the amount of thc Funds
held by Ltndt~ shall not be sufficient to pay taxa, assessments, insurance prcmiums and ground rents as Ihey tall due,
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days (rom th~ date notice is maited
by Lender to Borrower rtquesting Qaymcnt thercof.
Upon payment in full of all :ums securcd by this Mortgage, l.ender shall p~omptly refand to Borruwer any Funds
heW by Lender. If undtr puagnph 18 hercof the PropeAy ~~ sold or ~he Propcrty ~s otherwise acquircd b~ Lender, Lender
shdl apply. no later than immediately prior to the sale of the Property or i~s acquis~tion by ~ender, any fiunds held bv
Leader at the time of application as a credit against the sums securcd by this Mortgage.
3. Arplieatiw~ ot Paymeats. Unless applicable law provi~ks otherwise, all payments teceived by t_ender under the
Note at~d paragraphs 1 and 2 hercof shalf be applied by Lcndcr first in payment af amounts payabk to t.ender by Borrower
under paragraph 2 hereof, then to interest payabte on the Nutr, then to the principal of the Note, anJ then to interest and
principal on any Futur~ Advsnces.
~. Charses; Lieps. Borrower ~h~U pay all tatr~. ~ticesam~nts and uthrr charge~. finec and impusttions attnbutahle to
the Property which may attain a pnority over thi~ Mortgage, and leasehold payments or grouna rents, if any, in the manncr
provided under paragraph 2 hereof ar. ~t not pa~d m such manner, by Borrower m:~king payment, when due, directly to the
payee theteof. Borrower shal! promptly turnish tv Lendtt all nohres of a:nounts due under this paragrapb, and in the event
Borrower shall make payment duecUy, l3orrov-•er shall prornptly furmsh ~a Lender receipts evidencing such payments.
Borrower shall prompUy dixharge any I~en wh~ch has pr~onry over th~c Mortgage: prov~dcd, that 8orrowtr shal! not be
reqwred to d~scharge any such iien so long as BorroNrr shall ~gree in Mrit~ng t~~ !he payment of the ob6gatiun secured by
such lien in a manner acceptable to Lender, or sh:,ll !n g~Kx1 faqh conte~t such lien b~•, or defend enforcement of such lien in,
legal proceed~ngs which opera~e to prevent the ent~~rcement of the I~en or [orfeiwre of the Property or any part thereof.
S. Hazard Insurance. Rorrower shall ketp the impruvemrnt~ now c~isting ~x hereafter erected on the Pmpcrty insured
against loss by fire, hazards included withm the term "ritenJed cove~age", a~d such o~her hazards as Lender may rcqwre
wd in such amounts and for such periods as Lender may reyuire: provideJ, that LenJer shall not rcyuire that the amount of
such coverage exeeed that amount of coverage required ro pay the sumc secu:ed ~by this Mortgage.
"(he ~nszrance carrier providing the ~nsurance sGaii be chosen by Borrower sub~ect to approva! by Lendtr: provided,
that such approval sh~l not be unreasonahly withheld. All premiumc on insurance policies shall be paid in the manner
provided under pa~agraph 2 hereof or, if not p~~~1 in ~uch manner, by Borrower making payment, when due, directly to ihe
insurance carrier. '
Ail insurance poliaes and reneaals therrot shall be in forni Jccepteble to Lender end shall ~nclude d standard mortgage
clause in favor of and in form acceptable to Lender. Lender chall have the right to hold the policies and renev-als thereof,
and Borrow~er shall promptl}• furn~sh to Lender all renewal notices anJ ali rece~pts of paid premiumt. In the event of lo~s,
Borrawet shell g~ve pr~~mpt noticc to the ~muranic carner and Lendcr. Lendcr ma} make prex~t o( loss if nei made pr~~mptl~
by Borrowcr.
Unless Lender and Borrower otherw~~r agree in wr~ting. inwrance ~roceed~ shall be applied te rectoration or repair c-[
the Properry damaged, prnviJed such re,toration or rcpair ~s ca~n~~mically feacible and the secunty of this Mortgage i~
not Ihereby impaired. I( such restorat~~~n or repair is nut economica~ly (eazible or i( the secur~ty of this Mortgage w•c.uld
be impaired. the insurance proceeds shall be applieJ to the sums ~ecure~ by th~s Mortgage. w~th ~he excess, if an}•, pa~d
to Borruwer If the Properly ~s ahaudoncJ hy Horrower, or ~1 Borre.wcr (aiit to respcmd to I.ender within 30 days iri~m the
date notice is m~iled by Lender to Borrower that the insurance carrier olTers to ~e~tlc a ctaim for ~nwrance benefits. I_ertJer
is authonzed tu coltect and apply the +-»urancr proceeJs at Lender'1 uptu~n e~ther to restorauon or repa~r of 1he Propert~
or to the sums secured by ~h~s Mortgage.
Unlesc Lender and Borr~~wer othenaik eg~ee ~n Nnting, an} such applicanon i~f pnxeeds to pnnapal shall ncri e~tend
or postpone the due date of the m~inihh~ imtailment~ referred tc~ rn peragraphti 1 and 2 hereof or change the amoirnt ot
such installment~. If under paragraph 1~3 hereof the Prof,~;ny ~~ acywred b~ Lender, aU nght, tiNe and interest ot Borr~~v-e~
in and to any fnsurance policies and in :~nd to thc proceeds thereof resulting frum drmage to the Property prior to thc s:,le
or acquisition shall pass to Lender to thc e~tent ot ~he ~um~ sccured by thu 1lortgage immediately pnor to wch sale or
acquisition.
b. Presen~~/ion aod ~ltinten~nce of Properl~; Leaseholds; t'ondominiums; Planned Unlt Ue~•dopments. Borrot~cr
shall ~eep ihc Propcrt}~ in g~wd repair and shall ~not comroit Kastc or permit impairment or deterioration of the Property
and shall comply with the provis~ons of any lease ~( th~, ;1~ong:~ge ~~ on a Iraseh~~ld. If this Mortgage is on .+ unrt in a
condomin~um or a planned unit Je~clupmrnt, Borrower ~hal! pcrfc~rm all of 8orrower's oblrgations under thc dccl~ratu~n
o~ covenanls creat~ng or guverning ihc condi,mmium or planncd umt devclupment, the by-laws and regulation~ r.f the
condominwm or planned unit de~•clopmcnt. .~nd r~~n~titucnt dixumcm~ If a conJominium or planned umt devclc~pmcnt
nder ~s executed by Borrow~er and recorded mgether with thiti M~xtgage, the covenants and agreements o( wch n~irr
shatl be incorporated into and sh:ill amcnd :enJ wppkmcnt the cu~enantti and agreementx of ~h~s Mortgage as ~f :he nJcr
were a part hereof. .
7. Protalion of Lender's Secu~ity. I( H~~rr~~wer f.+~l. t~, ~xrl~vm the covenants and agreements cunta~ned ~n thi~
Mor~gage, ur if any acUon ~~r prckeeJing i~ cu:nmrnccit ~hich matenally af~ects I.eniler'~ ~nlerest in the PmExrt~•.
mcludmg. hut nut hm~ted tu, eminent deima:n. im~.l~enc~, c~~elc enfureemen~. «r :errangementc c~r pn~ceedengs invoh~~ng a
bankrupl or deredem. then Lender a~ I.en.ier'~ c~puon, up~n noUCe to Borrower, ma~ make such appearances, dishurse such
sums and Iake such activn as is necc{tiar}' tu pmtect t_ender'c inlerest. including. but not limited to. dilbunement o(
reasonaFile attomey's teet and emry up~m thc Propcri}~ to ma(~c rcpair~. (f (.~ndcr rcyuircd mongage in~urance as a
conditwn of mak~ng the loan ~tcureJ by this llforlgagr, B~~rrr•..er sh.il! paf~ the premiwns requ~red to rr~aiitia~n such
insunnce in rttcct until tiuch time as thc rec;uircmc~t f~r wch ~n,uran,c tcrminatcs in :~ccordancc v-ith Borruwcr'~ and
. :,~.
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