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UNIlORM COVlNAfiTS. Hormww and Leoder covenant and a~ree u tollows:
). i~weat e/ hrclMl ri iNerest. 8orrower shall prompUy pay when due the principal ot and i~terest on the
indebtedness evide~ced by the Note. pte~ytnent and iate ch3rsec ac provided in thc Note, and the p~nciPa! d~nd ~n~eee~
o~ my Futurc Advsnces secured by this Mortaate.
2. lhu~i [or 'h=~s a~i iwea~ca Subject to applicabk law ar to a writ~en waivet by Leoder. eoRO.~-er ~n.n wy
to Lender on the day monlhly instaliments ot principal and ~ntcresl arc ~wyahle under the Note. until the Note is paid in full.
a aum (herei~ "Funds'~ equal to one-twelfth ot the yea~l)~ taxc. anil assessmeets which may attain priority ove~ this
Mortsaje. and ~mund rents on the Properly, it any. plus one-twel(th of yea~ly prcmium installments [or haurd insunnce.
plus oaatweltth ot yearly prcmium installme~ts tor mortgage ~nsurance. if a~y, all u rcasonably estima~ed initislly and trom
time to time by Lender on the buis ot assasmcnts and bills and rc~sonabk estimata thereot.
'ILe Funds shall be held in an institution ~he depos~ts or accoun~s of which arc insured or ~uannteed by a Federal ot
state a~eacy (including Lender if Lender is such an instilution). I.ender shall apply the Funds to pay said taxa. assessments.
insurance premiums and ground rcnts. I.ender may nat ebarge for u+ holding and applying ~he Fundc. analyzing said account.
or verityin~ snd compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
permits Lender to make such a charge. Borrowe~, a~d Lender may aane in writing at the time ot execution of this
Mo~aje tbat interest on the Funds shall be paid to Borrower. a~d unlas such agreement is made or applicabie law
requic+a such intercst to be paid. L.cnder shall not be rcquired to pay Borrower any inte~at or eamings on the Fuods. Lender
shall pve to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which tach debit to the Funds wu made. The Funds arc pledged u additional socu~ity for ~he sums secured
by this Mortaaae.
I[ ths amount ot the Fnods held hy Lender. together with the future mon~hly installments of Funds payabk p~ior to
the due data of tues. asxssments. ~nsurance prcmiums and ground rcnts, shall exceed the amount required to pa) said taxa,
assemnents, insunnce prcmiums and ground re~ts as they fall due, such eacess shall be. at Borrower s option, either
promptly tepaid to Borrovver or crodited to Borrower on monthly installments of Funds_ If the amount of the Funds
held by Leoder shdl not be sufficieat to psy taxes. asstssments. insunnce premiums and ground rcnts u they fall due.
Borro~wer shall pay to Lender any unount necessary to make up the deficiency within 30 days from the date notic~ is mailed
by Lende~ to Borrower rcquesting payment thereof.
Upon payment ia full of all sums secured by this Mortgage, l_ender shall promptly rcfund to Borrower any Funds
hdd by Leader. If under puagraph 18 hercof the Property i~ sold or the Property ~s othervvise acquired by Lender, Lenckr
:6a11 spply. no later than immediately prior to the sale of the Property or its acquis~tion by Lender. any Funds held bv
Leoder at the time of applicatan as a credit against the sums securcd by this Mortgage.
3. A'pt~catiow oE Paymeals. Unless applicable law provides otherwise. all payments received by Lender under ~he
Note and paragnphs I and 2 heceof shall be applied by l.ender first in payment o( amounts payable to Lender by Borrower
under puagraph 2 hereof. then to interest payable on the No~e, then to tne principal of the Note, and then to interest and
principal on any Future Advances.
4. C6artes; Litas. Borrower shall pay al! ta~ec. acsessments and o~he~ charges, fines and impositions attrib~~table to
tbe Property which may attain a priority over this Mortgage, and Icvehold payments or ground rcnts, if any, in the manner
provided under paragraph 2 hereof or, it not pa~d in such manner, by Borrower making paymcnt, when due, diroctly to the
payee thereof. Borrower shall promptly turn~sh to LenJer all notices of amounts due under this paragraph. and in the event
Borrower shall make payment directly. Borrower shall promptly fumish to Lender receipts evidencing such payments_
Borrower shall promptly discharge any lien which has prionty over th~c Mortgage: provicied, that Borrower shall not be
rcquired to discharge any such lien so long as Borrower shall egree in Nnting to the payment of the obl~gatiun s~curcd by
sucb lien in a manner acceptable to Lender, or shall in good (aith conteci such lien by, or defenJ enforcement of such lien in,
legal proceedings which operate to prevent the enforcement of the lien or forfe~ture of the Property or any part thereof.
S. Hazard lnsurawce. Borrower shall kcep the ~mprovements no.. esisting or hereafter erec~ed on the Property insured
against loss by fire, hazards included within the term "eztended coverage", and such other hazards as l.ender may reyuire
and in such amounts and (or such periods as Lender may require: provided, that Lender shall not rcquire that the amount ot ~
such rnvenge exceed that amount of co"verage required to pay the sums tecured ~by ~h~s Mortgage.
'Il~e insurance carner providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
t6st such approval shall not be unreaconably withheld. All prem~umc on insurance poliaes shal! be paid ~n the manner
provided under peragraph 2 hereof or, ~f not paid in such manner, by &~rrower mak~ng payment, when due, directly to the
insuranct carrier.
All insurance policies and renew•als therrof shall bc in torm acceptable to Lender anJ shalf include a standard mortgage
e~ause in favor af and in form acceptable to Lender. Lender shall ha~•e the right to hold the policies and renev-als th~reof,
and Borrow~er shall promptly furmsh to Lender all renewal nouces and all receipts of paid premium~. In the event of loss.
Borrower shall grve prompt nouce to the ~nsur.,nce carner and Lender. Lertder may make pr~x-f of, loss if not made promptly
by Borrower.
Unless Lender and Borrower otherw~K; agree in writmg, insurance proceeJs shall be applied to restoration ar repair of
the Property damaged, prov~Jed such re~torauon or repair ~s economically (easible and the security of this Mortgage ~s
not ~hereby impaired. 1( such res~orat~on or repair ~s not economically ieasible or if the secunty of this Mortgage would
be impaired, the insarance proceeds shall be applied to the sums xcureJ by this Mortgage, w~th Ihe excess. if an}, paid
to Borrower. If the Propen~~ is abandoned by Borrower, or it Borrower (ads m respond to Lender within 30 days from the
date notice is maded by Lender to Borrower [hat the msurance carrier ofiers to settle a claim for insurance bene6ts, I_ender
is aut6orized to collect and apply the insurance proceeds at Lender's optian either to restorauon or repaer of the Pmpertv
or to the sums secured by this Mortgage.
Unless 1_enJer and Burrower otherv~i~e agree m wnting. any such application of procceds to pnncipal shall not extend
or postpone the due date of the mon~hly installme~~c referred to in paragraph~ 1 and 2 hereof or change the amount of
such instal~meots. If under paragraph 18 hereof the Pro f,erty ~s acyuued b~ Lendcr, ali nght, title and interest ot Borrower
in aod to any tnsurance policies and in anJ t~ the proceeds thereof resulung from damage to the Property prior to th~ sale
or acquisition shall pass to Lender to the extent of the sums secured by this titortgage immediately prior to such sale or
acquesition.
6. Prese~alion ~nd ~faiatenance of Propertv; l.easeholds; ('ondominiums; Planned Uait Dtvebpmenls. BorroKCr
shall keep the Property in good repair and shall not comro~~ 3~-aste or permrt impairment or deteriotat~on ot the Property
and sha1) tomply~ with the provis~ons of any lease it thu Mortgage ic un a leaschold. !f this Mortgage is on a unit in a
condominium or a planned unit development. Borrow~er shall pertorm all of Borrower's obligations under the declaraUun
or covenanls crea~~ng or govern~ng ~he condominium or planned unit devel~-pment, ~he by-laws and regulationc of ~he
condominium or planned unit develo~~ment, and constiwent J~umem~. lt a condominium or Planned umt Jevelopment
nder is executed by Borrow•er and recorded ~ogether with th~~ Mortgage, the covenants and agrcements of ~uch ridcr
sh~ll be incorporated into and sh•rll emend anJ supplement the co.enants and agreements of this Mortgage as ~f the r~Jer
were ~ part Fereof.
7. Protection ot I.enders Security. If Barrower faslti t~~ perf~.rm the covenams anJ agreements contained ~n this
Mortgage, or if any act~on ~~r proceedmg ic cummenced ah~rh ma~eriall}• .~firc~s I.enJer's interest in the Property.
including, but not limited to, eminent domam. incc-Ivene)~, cude ent~~rcement. ~~r arrangements or proceedings invohing a
bankrupt or decedent. ihcn Lender at I.ender'~ option, upon not~ce to Borrower, ma~ mrke such appearances, d~shurse such
sums and take such aclion ac ~s neceteary ~u protec~ Lender'c in~erest. mclud~ng. but not lim~ted to, disbursement ~-t
reasonable auomey'c fces and entry uExm Ihc Propcr~~~ to makc repa~rs. If I.cnJCr reyuircd mortgage in~urance a~ a
cond~Uon u( makmg Ihe loan ~ecured by Ihis M~~rtgage. Bi,rrr.HCr sh !II pa~~ Ihe premiums requireJ !o mai~ita~n wch
insurance in rliec~ until tiuch timc ac the reyuirernent f~r .uch m;uran:e termmatr. ~n .iccordance w•nh Borruwer'. and
a~?nK3~ pac~zSQ.`~