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UHiFORM CoveN~Nts. Borrower and Lender covenant and agree as follows:
I. ~t~eot ot Prioc~l a~ lalerat. Borrowsr shall p~omp~l~~ p~y w~hen due ~he principai of and intarest on the
indebtedness evidenced by the Note, prepayment and late charge~ a~ provided ~n the Note, a~d the principal ot and intercst
on any Futurc Advanca secured by this Mortgage.
2. Fo~ tor Tua aad lawnace. Subject ~o applicahle law or ~o a written wa~ver by Lender, Borrower shall pay
to Lender on the day monthly iostallments of principal anJ ~n~c~c~t arc p~yahle unJe~ the Note, until the Note is aaid in (ull.
a sum (herein "Funds") equal to one-tw•elfth o( ~he yearl~ ~a~c~ ~nd assessments which may attain pnoriry over this
Moh~age, and ground renu on the Proper~y, if any, plus one-twrl[~h al yearly premium installme~ts for hazard insurance,
plus one-twel(th oE vearlv uremium installmen~s for morteaYe insurancc. ~( anv, all as reasonably estima~ed ini~ially and from
time to time by 1_ender on the basis of acses.mcnts and hills and rca~unabte atimates thereof.
71~e Funds shall be held in an insti~ution ~he depotih ar ~rcounts ot which are insurcd or guaranteed by a Federal or
state agency (including Lender if Lender ~s such an inst~tution). I.ender ~hall apply ~he Funds to pay ~aid taxts, assessments,
insunnce premiums and ground rents 1 ender may nol charge tur s~ holding and apE+lying Ihe Fundc. analyz~ng said a.count,
or verifying and comp~ling said assessmer,ts and bills, unless l.ender pays Borrowe~ interat on the Funds and applicahle law
petmits 1_ender to make such a charg:. Borrower and I_ender may agree in wnting at ~he time ot executian o( this
Mongage that interat on the Funds shall t~e paid to Borrower, and unless such agreement ~s made or applicable law
rcquires such interest to be {-aid, Lender shall n~t br required to pay Borrower any interesl or earnings on the Funds. I.enutr
shall give to Borrawer, without charge. an annual accounting of ~he Funds showing credits and debi~s to ~he Funds and the
purpose for which tach debit to ihe Funds wa~ maJe. ~The Fuieds are pleciged as addiuonal security for the sums sttureJ
by this Mortgage.
If the amount of tht Funds held by Lender, together with the fu!~ir~ manthly ~nstallments of FunJs payablc pnor to
the due dates of taxes, assessments, insurance ptem~ums and gruund rents, shall exceed the amount reyuired to pay said taxcs,
assessments, insurance premiums and ground rents as ~hey fall due, such exces~ shall be, at Borrower's uptwn, e~ther
pro~nptly repaid to Borrov-•er or cred~~ed to Borrower on monthly ~nstallmer,ts of Funds. If the amount o( thc Funds
held by Leoder shall not be suf~cient to pay ~axes, assessments, insurance prem~ums and ground rents as ~hey (all due,
Borrower shall nav to lend~r anv art-~unt necescarv tn r-~a4ce ~~n the defic~encv within if~ c~ays from the date n~licc ic mailed
by Lender to Bo~rower requesting payment ~hereof.
Upon payment m full of all sums secured by this Mortgage, t.ender shall promptly refund to Borrower any Funds
held by L.ender. If under paragraph 18 hereof the Property ~~ sald or ihc Properry a otherwise acqwred by Lender, I.ender
s6all apply, no later than immediately prior to the sale at the Property or its acquisition by l.ender, any Fundc held b~•
I.ender at the time of application as a credit agamst the sums secured by this Mortgage.
3. Applie~im o[ Payments. C:nlecs applicab~~ lav-• provides otheiwis~, all payments received by l_ender under the
Note and paragraphc I and 2 hereof shall be applicd hy I.ender first m peyment ot amounts payable to l.ender by Borruwer
under paragraph 2 hereof, then to ~ntcrest payable on the Note. ~hen to the principal of the Note, and thcn to interest a~d
principal on any Future Advances.
4. Charges; Liens. Borrower ~hall pay all 1a~r~, a~u~tmrnts and ~ahrr ch.ugrti. fine~ and imExxiuons attnbut~hle to
the Property w•hich may auain a pnarity ovcr this '~lortgage, and lea,ehold peymcnts or ground rents, if any. ~n the manner
provideJ under paragraph 2 hereaf or. d n~~t pa~d ~n wch manner, b} B~~rro~cr m~k~ng payment. when due. directly to the
payec thcreof. Borrower shall promatly furni~h tu Lender all nouce~ ot amounts duc under th~s paragraph, and in the e.ent
Borrower shall make payment duectl~'. Horru~~r ~twll prompUy furn~sh t~~ Lender receipts evidencing wch payments.
Borrower shall promptl}• diuhargr an}• hen uhich hax pnontq e~~rr thn Martgage: prov~ded, that Borrower shall not be
rcqwred to diccharge any ~uch lirn ~~~~long~~s B+~rruwer'sh:,ll aKrcr m~rnmg tr the pa~ment of the obl~gauun secured by
such I~en ~n a manner acceptablr to Lender, er ,h.,~l ~n giK~ fauh cuntr~t ~urh lien h~. ~~r ~lefend enforeement of such lien in,
legal procerdings which oprrate t~~ pre~ent the rr:t~~rcement of ~hr i~en or (orfe~ture ~~f the Propeny~ or any part thereof.
S. Hszard Insurance. Horroaer ,i~all keep the imprucement. n~~~ evsung u- hereeftcr erec~ed on the Pmperty insured
against Ioss h~ fire, hazards included with~n the !erm "e~t~nde~t cu~•rr.~ge'~, ar<<± such other hazardt as Lcndrr may reyu~re
and ~n such am~~unts and tor su~h ~riod~ a~ Lender msy reyu~rc: pmvided, that I.en~er shall not reyuire that the amuunt of
such coverage ezceed that amount i~f coverage reywred to pay thr ~~~m~ ~eci~red h} -h„ Atorlg:~ge
The ~nsurance carrier ~ruviding the ~r:<,urance shali be chn~en by BorroNer suh~ect tc~ approval by Lender, prov~ded,
that such apptoval shall nut be unreationahl}~ withheld All rrrmnim~ on inwrance p~~lic~es ~hall be paid in the manner
provided under paragr~ph 2 hereuf or, if not p~i~ in wch manner, h~ B~~rrouer mak~n~ pa}~ment, when due, direcUy to the
insurance carner.
All insuran~~ ~oLc:r, and rencwalt thcrr.~f shall tx ire forn~ acc~nt:~blc to l.cn~lcr a~d sh:iil ~nclude a~tandard mortgagc
clause in fav~,r i~f and ~n f~,rm acceptable to Lender. Lender .hsll ha~e th~ nghi t~~ huld thc p.~licies and renewals thereof,
and BorroKCr ~hall pr~~mpth furn~sh to Lend~r all ren~wat notices and all reccipts ot paid prernium. !n the erent of lo;c.
Bormw-er ,hall g~.r pr~~napt t:c~t:cr tu the +n.ur.in~e ~arnrr and LenJe~ !_enJrr ma} rnak~ pr~.~~~t c~f lo~s if n<,t made prumptl~
by Borrower.
Unless I.cndcr an~1 8orn~~+rr oth~ru~.r e~rrec in ..nt~n~. ~nwranre pnkecJ~ ~h~ll t±e applied to retitoration ur repair of
the Prope;t~• dam:~ged, pru~~Je~ ,uch r~~t~~ranun or repair }~ icunt~mi~ally feati~hle and the security of thi~ ~lortg~ge i~
not thereby impa~reJ. It .u~h re,torati~~n or rrp:~~r is ~:,~t ~cun~~micall~• fras~hlr ur if ~he secunt}' of thic `lortgage ~~~uld
be impa~red. the ~n~urancc prucer.h ~hall tn applied t~~ ihc ~ums ucure.l b} thiti M~,ng~ge. w,th Ihe excecc, if am. pa~d
to Borruwrr It the Pn~pen} is ehendrned hy Kurr~~wer. or it B~~rn~wcr faih tu rc~p~nJ to Lender w~th~n 3U da~s from :he
da[e noiice i~ mail~d h~~ Lcnder t~~ Bl1f(UUi'i !hat ~he imur3nrc carri~r ~~1Ter. co ~ct~tc :~ cla~m f~~r insurance benefits, I enJer
IS 3UIflUfl7l'(1 [i~ culle~t and ~ppl}~ the imurar.r procec~l~ :~t -I.rndr~~ti uptiun e~thcr t~~ re~t~~ratior t~r repa~r n( thc Pr~~~rt~
or to the sum~ tircured hv thi~ ~lorigagc
Unless I.endcr ~nd S.~r:~~wr; l~~IlCENill' agrec in ~nting, am such appl~rauon ~•f pn~eeds to ~nncipaf tihall nut r~tcnd
or pustpoc~e th~ dur cl;:t«_ ~~f thr nt~mthl~ m~tallmeM~ rrFcrrrd t« in par.~Yraph. I,~n~i Z herci~( ar chan~;e the amvunt ~~f
such ~nstailment,. It under para~raph tti hereuf the Propc:rty is acywrcd h~ LenJer. al{ righ!, title ~nd imerest ut Horn~ucr
in a~d to an~ tn~urancc ~,li~ieti ~n.i ~n :+n.l t~~ thr pr~,cce~i~ thrrc.~f re~ulung fn~m ~fa~nage to the Propert~• pn~r tu th~ ialc
or acyuis~tion shall p.us to 1_rndrr to ~h~ c~tcnt uf the ,um, •,ecured h} th~~ ~t:.rt~agr ~rnmeJiately~ pnqr i~~ ~uch ,ate c.r
acquis~!ion.
6. Presenalion and ~t~intenance of Propert~: I_eacehold~; ('ondominiums; Ptanned l;nit lk~~etopmrnts. Bc~rroti.cr
shall keep the Pr~~perty ~n guc~d rrp.ur and ,hall nc~t romrvit y.a~te ~~r permit imr.~irment or deteriorauun of the Prc~pert~
and shall curnp~t ~itn thr pro~~swr» c~f any Ir:isc it thi, ~t~~rtg,~~~ i~ ~,n e(c:~sch„W. I1 th~s :~1orlgagc ~s on ~ umt in a
r_ondominium nr a planned ~imt .Ir~cl~~pment. Hc~rrnwer tih:~ll ;xrt~~rm all r( Bc•rr~Ker's c.bligations under the decl.~rati~~n
or covenants crraung ~~r k~~verning the condrnunium ~~r planned iin~t devrlupment. the b~•-lawti and tegsilnlium ~~f ihe
condominium ~r pi.+n~ed umt Je~el~,~~ment. .~n~l ~~.?n,titurn- ~i~,~umcnr~ lt ;, ~un~luminium or rl~nncd ~~nit ~ir~cl~+~mer.t
nder ~ti eYCCUtrd by Borru~~.cr an~ rr:«rJri! t~+gett,cr ~.+~th th~~ tit~~rtgagt, shr ~c~~en:~nt~ ard agreemcn±s c3f ,uch r;•t;r
shall be incorporateJ ~nto and ~h.~ll smend anJ supplrrnent the c~~•.enanl~ .~mi egreem~nlti <~f thi~ \1~~rtga~;e a~ if the n~1rr
were a part i-,ereof.
7. Prote~fion of I.ender's tiecurit}~. If N~~rr~~~.~cr f.~~l. r,~ ~rrt~~rrn the cm•en.~ait~ ,~n~l :~~rerments ~rr,tain~d in thiti
Morigage. ~,r if an} act~~m „r pr~,rreJu~~; ~. .~~r.imrnte~i ..h~ci~ m.~~rr~a±lti .~ttr~t, I rr~~ier', ~nrcre.t in the Pr~,pcrt~.
includinb. hut n~~t !innted tv. cmuicnt dum.~in. in.,~l.cn.ti. ~~~~ir cnt~~r:cmc:nt ~~r a~r.,n~crtrnt~ rr ~.r~xcrdings ~m~,h:nk a
hankrupt ~~r Jc~c~l~nt. ih~n I rnJrr at I e~~icr', ~,~~~,,~~. ~~~~m nnticc i~~ B~rn,~rr. rn.~~ rn.~k~ w,h :~pExar.~ncc~. ~1i,hunr tiurh
sum~ and ~aF~c surh ecti,~n .~~ i~ nc~c...~r~ t„ pr~,~,•~t 's.cndcr~. ~m~rr~i. mcl~i~lin~• hnt nrt iim~ie~l t~~. Ji~hursrmcnt ~,f
reau,nahle atti~rnr~'~ tcrti an.1 rr~ir} ii~,~ie thc Pr~~pcrn t~~ mel.c rc~+.+~r~ It I rn~~~~r r~~,~~~irz-! n~.~rtt~gc in~~ir.i~ie a~ a
cunJ~t~un u1 n~a-.~reg thc li~en .c~ure~) h~ th~~ ~t~~rtt~.~ic fi,,rr~ ~~cr tih iil ~.~~ If~: ~~tirnnnrn rcy~nrc~l t~~ ntai~it.~ ~~ ~ueh
~nsurrncr ~n rtic~t umil ,~i~h tirnc .~~ thr rryuu.•incnt t~~r uih ~n,ur~n.~ Irtniin:~tc. iii .~~.~•rd:~ncc ~~uh E~~r:~~.r~r~, :in.l
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