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UHtro~ CoveN~r+TS. Borrower and Lsnde. covenant snd a~~ee u follows:
1. h~sst ot M~cINI a~d lNerest. 6o~mwer shall prompdy pay when due the p~incipai ot and inierat on the
~adebtedness tvidenced by the Note, prepayment aod late chargec ac provided in the Note, and the principal ot and interest
0o aoy Futuro Advances secured by this Monaaae.
2. FrNs tor Tuet asd l~a~n~ce. Subject to applicahk !aw ~~r to a written waiver by I.ender, eor~o+~~ ~,~n wy
to l,tnder on ~he day monthly installments of principal and ~nterec~ a~e payahle u~der the Note, until the Note is psid in full.
s tum (hercie "Funck") equal to ooe•tweltth ot the yea~ly ~aac. anJ assessments which may attsio pnority over this
Morisaje. and g~ound re~ts o~ the Prope~ty, if any. F-tus ax-tweffth of yearly premium insullments for huard insurance,
plus one-tweltth of yearly prcmium ;nst~llments tor mongage insurancc. it any, all as reuonably estimated initially ~nd irom
time to time by ~ender on the basis of assescmcnts and hills and rcawnable esl~mata thercof.
The Funds shall be held in an instituti~n ~he depoats or accoun~s of which aro insurcd or gua~anteed by a Fcderal or
state agency (inclu~lina Leoder ~t lc~~• ~~ a~ch an instiwtion). I.ender shatl apply the Funds to pay said taza. assessments.
insurance pamiums and g~ewnd rents 1 ender may no~ eharge ior sc- hatd'+ng and applyiag the F~mdc. analyz~ng caid accouni.
or verifying and tompiling said assessmen~s and bills, unless l.e~der pc-ys Borrower in~ercst on the Funds and applicable law
permits Lender to make such a charge. Ra~rower and Lender may agrte in writing at the time of eaecution of this
Mortgage that interest on ~he Funds shall be paid to Borrower. a~d unless such agrcement is made o~ applicable law
requires such ioterest to be paid. Lender shall not be rcquircd to pay Borrower any intercst or earnings on ihe Funds. i_ender
shall aive to Borrower, without charge, an annuat accounting of the Funds showing credits and debils to the Funds and the
purpos~ for which each debit to the Funds wu m~dc. The Funds are pledged as additional security tor ~he sumi secured
by this Mortgage.
If the amount ot the Funds held by Lender, together with the futu~e monthty instattments of Funds payable prior to
the due dates of taxes, assGCSments, insurance premiurr~s and ground rents, shall exceed the amount required to pay said taxes,
ssseattnents, insurance premiums and ground rents as they fall due, such excess shall be, at Barrower s op~ion, either
pranptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Leadcr sha11 ~ot be suf6cieot to pay tua. asxssments, insurance premiums and ground rents as they tall due,
Borrower shall pay to Lender aay smotent ntc~s~ty t~ rr-akr u~+ the deficiency within 30 days from the date notice is mailed
by L.enckr to Borrower requcsting payment thercot.
Upon payment in full of all sums secured by this Mortgage, [_ender shalt promptty refund to Borrower any Funds
held by Lender. 1[ under paragraph t8 hercof the Property i~ sold or the Propeny ~s othenvix acqmrcd by t.ender, I_ender
sDall spply. no later than immediately prior lo the sale o[ the Propecty or its acquisition by Lender, any Funds held bv
Leoder at thc time of application as a credit against the sums securcd by this Mongage.
3. Appiic~tion o[ Psymeots. Unless applicable law provides otherwise, ali payments rccci~ed by Lender undrr the
Note and paragraphs 1 and 2 hereof shal! be; applitd by l.ender 6rs~ in payment of amounts payable to Lc~der by Borrower
under paragraph 2 hercof, then to ioterest payable on the No~c, then to the priocipal ot the Note, anJ tben to interest and
pnncipal on any Future Advances.
4. C6arEes; I.;e~. Borrower ~hall pay a!I taiei, accestments and other charges. fines and ~mpositions at~ributable tc~
the Property which may attain a pr~ority over this Mortgage, and leasehold payments or grouna rents, if any, in the manner
pravided under paragraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due, disatly to the
payet thercof. Borrower shall promptly furn~sh to LenJer all notires of amounts due under this paragraph, and in the event
Borrower shali make payment d~rectly, Borrower shall promptty (urn~sh to Lender receipts evideacing such payments.
8orrower sha!! promp~ly discharge any lien which has pnonty over thic Mortgage; prov~ded, that Borrower shall not be
reqwrtd to discharge am' sueh lien so long as Barrower shall agree in wn~~ng ~o the paymen~ of the obl~ga~iun ucured by
such I~en m a manner acceptable to Lender, or shall in gocxi taith comes~ such lien 6y, or defend enforcement of such lien en.
legal proceedmgs w~ich operate to prevent the enfo~cement of thr lien or forfe~~ure of the Property or any part thercof_
S. Huard Insuranee. Horrou~er shall keep the improvement+ now existing or hereafter erected on the Property insureci
against loss hy fire, hazarJ. includeJ wilhin the term "ratended coverage", ar,c± such other hazards as l.ender may reyuire
and m such am~~unta and (or such periods as I_ender may reyuire; pmvideJ, that Le~Jer shall not rcquire that the amount of
such coverage exceed that amount of coverage requrred ro pay the sums secured ~b} ih~s Mortaage.
'I?ie insurance carner providing the insur•rnce shall be chosen by Borrower subject to approval by Leoder, providad.
that such approval shall not be unreasonably withheld. All premwmc on insurance policies shail be paid in the manner
prov~ded under paragraph 2 hereof or. d not pa~d in cuch manner, hy Borrower mak~ng payment, when due, d~rcctly to the
insurance carreer.
All insurancr pu~ic+e~ an~ renew•als thenot shall be in form accept~blc to LenJer and shall mclude a standard morlgage
clause in favor of and m(~rm acceptable to ! endzr. Lender ~hall have the right to hold the policies and renewalt thereof.
and Borrov-er ~hall prumpth• furo~sh to I.ender aN renew~a! noteces and a!! reccipts of paid premiumc. In the event of loss,
Borrower ~hall gn~e prvmpt noticc ~~ the ~nsurance carner and Lender. 1_ender ma} make prcx•t at loss if not made promptly
bp E3orrower
Unless I.ender and Barrower other..~.c agree ~n wnting, inwrance proceeds shatl be ~pplied to rest~ration or repair of
the Property damaged, pruv+ded such rr~t~ration or repair :s econamically (easible and the ucurity of this Mortgage is
not thereb}~ impaired. It surh restor:~Ui~n or repair is ni~t ccunomicaUy fcasiblc or if the security of this M~rtgage would
be impaired, the insurance pruceeJs sh•rll be applied to the sums secureJ by this Mortgage, wnh !he excess, if any, paid
to Borrower It the Proper~~ ~ti ahandoned hy Horrower, or if Bormwer fails to ~espond t~ l.ender within 30 days irom the
date not~re ~, ma~kd h~ Lender to Borrower that the insur:~nce carrier ofiers ~o set~le a claim for insurance benefits, 1_ender
i. authorved t~~ u~llect and .~ppl? the ~murance proeeeds at LenJcr'~ ophon either to restoralion or repa~r of the Prc~pem
ur to thc sums ~rcurcd h} this Mortgagc
Uniess I.end« and durruwer otheru~u ~gree in wnling, an} such applicauon of prc.cetds to pnncipal shall not ettend
or p~xtpune thr dur da~e of thr mimihh• mtlallmentt re(crred to ~n paragraph~ 1 and 2 hereof or change ihe amount of
such ~nstallment~. 11 under paragr•rph IS hereot thc ProE,erty ~a acyuued h} L.enJcr, ali nght, t~tle and interest of Borrowcr
in and to an} 1n~ur:,n~c pol~ae•. arid m:~nd co thr prr~ceeds therevf resultrng from damage to the Property prior to thc sale
or acqms~Uon ~hall pa~~ to Lendcr tu thc e~tent uf the wms securcd b} thu !~tortgagc ~mmedia~ely pnor to wch sale or
acywsition.
6. Presenation aod ~t~inlen~nce of Property: Leaseholdr, ('ondominiums; Planned Unit De~elopmrnts. B~rroN•cr
shal! keep tlx P~uFert} in guud repatr and shall not comroit y~~aste c+r perm~t ~mpairment or deteriorat~on of the Property
and shall conipl~ w~tt, the provis~ons of any lease if thi, Mortgage ~~ on a Icaschold. If this Mortgage is on a unit in a
condomin~um or ~ planned unit dr~•rlopmcnl, Borrower tihall pcrli~rm all ot Borrower's obl~gaUOns under the dcclaratu~n
or coveoants creating or Kuvermng the cundominium ar planned umt devel~~pment, the b}•-laws and regidation~ of the
conJominwm or ptanned unu Je~~~lupmcnt. .~nd ramtitucnt dckumem~ ~f a c~~ndominium or planned i~n,t devel~pment
reJer +~ execwrd hr Borr.~wer and recorded tugelher Ni~h th~. M~rtgage, the covenants and ~greements o( ~uch ndrr
shall be ~ncorFwrated ~m~ and shall em~nd anJ supplcment the co~ename and agreements of th~c Mortgage at i( the riJer
uerr .s part F,ereof.
7. Proteelion of I.ender's tiecurfty. if Kurmaer f:~il~ tc~ ~xrtc~rm the covenantt anJ agreements contained in Ihi~
Murtgagr, ur ~f .en; a~tiun ur ~r~xeed~ng ~~ ~umrnence~l Mhi~n ma~enally efTects Lender'c ~ntere~t in Ihe Pr.~Fxr1}.
~ncluding. hut n~~t l~nuted ~u. em~nent dumain. im~•l~enc), c~x1e cnl~~rcement. ~x arrangcmentt or ~r~keedin~ts invohinA a
bankrupt ur de~edent. thc~i I.ender a~ I.ender', opt~on, upc-n nuhce to Borrow•er, ma~ make such appearances, d~tihur~e tiuch
sum~ and ~ake su~h acuun ati ~s necetitiary tu pratecr l.ender's mterest. ~nclird-ng. but n~~t limited to, d~sbursement ~*f
rtas~~nahle auurney'~ Jcr~ end entry upun the Propert~ to maAc tepa~r~. 1( Lender rryuired mortgage insurance a~ a
cund~t~un ut rnak~ng the loan ~e~ured b} ~h:~ MurtEage, Bi~rrr.acr sh.~ll pay ~he premiwns requireJ to maii~ta~n such
in~urance in ~:ttcc~ unul wch Um~ ati thc rcyuircmcnl fcir wch ~n~uran;c t~tminatcs m accordancc wi~h Borr~•wcr't and
d~l~iK ~cJlJ PaGE~~~ ~