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UNI~M GOYBNANT3. Bomower and Lendw co~+et~ant and strce ss tollows:
1. ~t et hM~ef~l a~i Werp1. Borrower shall_ promptl~ paY wAeo due the principal ot and intercst on the
indebtednes~ evidenoed by the NW0. PnWY~nt and late charsec ac p~ovided in the Nde. aed the principal of and interest
on my Future Adv~nces secured by this Mortaa=e.
2. 14~i ter T~z~s a~i Iwn~ea Subject to applicabk law ~.r to a written w~iver by l.eoder. Horrorve~ shall paY
to Lender on the day monthly inuallmenls of principal a~d intcrccl rrc payshle under the Note, until the Note is paid in tull.
a tum (herein "Fw~dt'~ eqwl to one-tweltth of the yea~l~• a~-~~ ~ad assessments which may attain priority over this
Mo~tsaje. and twund rents on tbe Property, if sny, ~us oee-twelfth of yearly premium installmeots [or huard insurance.
plus oae-twel[th of yearly prcmium installmenls tor mortgage ins~~rancc, if any. all as reasonably estimated initially and from
time to time by Lender on t!x buis of asxssmcnts a~d hills and rcaso~abk estimata thereot.
'tLe Fnnds shall be held in an institution the deposi[s or accounts of ~rhich are insured or guanoteed by a Fedenl ot
state ajeocy (ir~cludiog Lende~ if Lcnder is such an institution). I_ender shall apply the Funds to pay said uxa, useumenu.
inturaaoe premiums and atound rcnts. l.ender may oa1 charge for so holding at~d applyin~ the Fnndc. analyiing caid actount,
or verifyint snd compiling uid assessments and bills, unless Lender pays Bonower intercst on the Funds and applicable law
permit~ Lender to make such a charge. Be-rrower and l.ender may agrce in writioa at the time of exxwion of this
Mort~a~e that iotercst on the Fut~ds shall be paid to Borrower. and unless such agrcement is made or applicable law
requira wch inteoat to be paid; Lender shall oot be rcquircd to pay Borrower any intercst or earnings on the Funds. Lender
shall aive to Borrower~ without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which eaeh debit to the Funds wu made. The Funds are plodged u additional security for the sums stcured
by tbis Mort=sae.
If the amount o[ the Funds heW by Lender, togethe~ with the tuture mon~hly installments ot Funds payable prior to
tlte due data of tues. assessments. inaurance premiums and ground rcnts, shafl exceed the amount required to pay said taxes.
auawaents, iasurance premiums and ground rents u they fall due, such excess shall be, at Borrower's option, euher
pranptly repaid to Borrewer or credited to Borrower on monthly installments of Funds. It the amount of the Funds
held by Leoder shal! not be wt6cieot to pay taxa. assessments, insurance premiums and ground rcnts u they tall due.
Borro~rer shall Qay to l.ender any amount necessary to make up the deficiency within 30 days trom the date notice is mailed
by Leader W Bomovrer requating pvyment thereof.
Upoa paymeat in full of all suras socured by this Mortgage, t.ender shall promptly rctund to 8orrower any Funds
held by Lender. If under paragraph 18 hercof the Property ia sold or the Propeny is othervvise acquircd by [.ender, I_ender
shall spply. no later than immediately prior to the sale of the Propeny or its acquisition by Lender. any Funds held bv
I,ender at the time of application as a crcdit against the sums secured by this Mortgage.
3. A~plicatiw~ ot Pqmeats. Unless applicable law provides otherwiu, all payments received by Lender und~r thc
Note and pangraphs 1 and 2 ttercof shall be applied by I_ender first in payme~t of amounta payable to Lender by Bor~ower
under paraaraph 2 hereof. tl~en to interest payabk on the Note, then to the principal of the Note, and then to interest and
principd. on any Future Advances.
4. C~es; Lkas. Borrower shall pay all taxes, assessmcnts and o~hc~ charges, fines and impositions at~nbutable to
tbe property which inay attain a priority over this Mortgage, and leuehold payments or grouna rents, if any, in the manner
pr~vided under paragraph 2 hereof or, if na paid in such manner, by Borrower making payment, when due, directly to th~
payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, aad in the event
Borrower shall make payment directly, Borrower shall promptly fumish to Lender reccipls evidencing such payments.
Borrower shall promptly discharge any lien which hu p~iority over thic Mortgage; provided, that Borrower shall not be
rcquircd to discharge any such lien so long as Borrower shall agree in vvnting to the payment of Ihe obligatiun secured by
such lien in a manner acceptable to Lender, or shall in good taith contest such lien by, or defend enforcement o( such lien in,
legal proceedings which operate to prevent the enforcement of the I~en or forfeitu~c of the Property o~ any part thercof.
S. Hsnrd Inwrance. Borrower shall keep the improvements nov- ezisting or hereafter erected on the Property insured
against loss by firc, hazards included within the term "extendeJ coverage", and such other hazards as I.ender may reyuire
wd in such amounts and foi such periods as Lender may require; provided, that Lender shall not rtquire that ~he amount of
such coverage exceed that amount of coverag~ required to pay the sums securcd ~by this Monaaae.
'tl~e insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
that such approval shall not be unreasonably withheld. All premiums on insurance policies sha11 be paid in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower makmg payment, when due, dircctly to the
iowranco carrier.
All insurance policics and renewals tbereof shall be in torm acceptable to LenJer and shall ~nclude a standard mor~gage
clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policiu and renew~als thereof.
and Botrower shall promptly furnish to Lender all renewal not~ces and all receipts of paid prcmiums. In the event ot lots.
Borrower shall grve prompi notice ~o the insurance carrier and Lender. Lender may make prcx~f of loss if not made promptly
by Borrower.
Unless Lender and Borrower otherwise agree in wnting, insurance proceeds shall be applied to restoration or repair of
the Property Jamaged, provided such restoration or repair is economicaily feasible and Ihe security of this Mortgage is
not ~hereby impairtd. I( such restorat~on or repair is not economically (easible or if the security of this Mongage wauld
be impaired. the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if an}•, pa~d
to Borrower. If the Properry iz abandoned by Borrower, or it Borrower fails to respond to Lender within 30 days irom the
date notice is mailed by Ltnder to Borrower that the insurance carrier ofTers to se~tle a claim for insurance benefits, Lender
is authoriud to collect anJ apply the insurance proceeds at Lender's option either to r~storation or repa~r o[ Ihe Propert~•
or to the sums secured by this Mortgage.
Unless Lender and Borruwer otherwise agree m writmg, any such applica~ion oi prckeeds to prmcipal shall not extend
or postpone the due date of the mon~hly installmcros rcferred to in puagraphc 1 anJ 2 hereof or change the amount of
such installme4~s. If under paragraph 18 hereof the ProFerty is acywred by Lender, all r~ght, title and interat o[ Bormu•cr
in and to any h~surance policies and in and to the proceeds thereof resulting from Jamage to the Proper~y p~ior to th~ sale
or acquisition shall pass to Lender to thc eatent of the ~ums aecured by this Mortgage immediately prior to iuch sale or
acquisition. ' '
6. Preservatbn and Mainten~nce of Property; Leasehulds; ('ondominiums; Planned Unit Developments. Borrowcr
shall keep the Property in good repair and shall not comr0it yvastc or permit impairment or deterioration of the Property
and shall comply with the provisions o[ any lease d thu Murtgage i; on a leaschold. I( this Mortgage is on a unit in a
condominium or a planned unrt dcvclopmem, Borrower shall per(orm all of Borrower's obl~gations under the declaratirn
or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
condominium or planned unit develo~,ment, and constituem J~xumentti. It a conJominium or planned unit development
rider ~s executed by Borrower and recorded ~ogether v-ith this Mongage, Ihe covenants and agreements ot such rieler
shall be incorporated inlo and shall amend and supplcment thc covenants anJ agreements of this Mortgage as if the rider
were a part hereof.
7. Protection of I.ende~'s Securfty. It Borrower tailc t~• pertorm ,he covenantc and agreements co~tained in this
Mortgage, or if any act~on ur proreeding is rummrnce~l vrhich materially afTectti Lender's interest in the Propert~•,
includmg, but n~,t lim~ted to. eminent domain, inc~~lvencr, cude enforcement. ~~r ;,rrangrmcntc or pnxeedings invoh~ng a
bankru~+~ or decedem. ~hen Lender at l.ender's opU~n, upcm n~~tice to Borrowrr. ma~ make such appearances, dishurse such
sums and ~ake such action a~ is nececsary to protec~ l.ender's mterest, mcluding. bi~t not lim~ted ro, dicbursement of
reasonable auomey'c (ees and emry u~x~n the Property t~~ make repe~r.. !( Lcnder reyuircJ mortgage in~urance as a
condit~on o( making the loan secureJ b}• ~his M~-rtgagr. Barn:wcr sh.ill pay the premiums requ~reJ to maii~ta~ri wch
iniurance in elftct until tiuch t~me as the reyuirrmem for w~h m;uran:e tcrm~nale~ in accordanLC w•uh Bormwer'~ anJ
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