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~ Ut+tFO~u[ CoveH,~xra. 8or~r aad L~der coveaaQt and a~ra as tollows:
l. ~e~t ot M~cIMI a~i LMesat. Borrower shall Pro+~aP~~y AiY wl~en due the priac~paJ of and interat oa tba ~
iadebtedneu evideaad by the NWe. Pnpayaneoi aad la~e char~es sa aovidod io che Naa and ~ha principal ot aed i~cerea ~
on any Future Advsaces securod by tha Mott=ase. ~
2. .1ti~ to~'I'a~M ~M Liwr~ce. ~bject to applicabb law or to a writtee waiver by Lender. 8ocnowe~ ~a11 par ~
to Lender on the day monthly instaltments ot princi~sl and interest arc payabk u~tkr Ihe Note, uatil the Note is paW in fup, ~
s swn (heroin •'Fuc~t'~ equal to one-twdith ot the yeuty tues and asxsunena whkh msy attain prioriry ove~ this
141o~t~a~e. and `round cena on tt~e Property. if say. plus oae-tweitth of yeuly preaaium iauallaaeats tor hwcd inKUanoe, ,
plus oae-tweltth of yeulY Prcmium iiutallaneats for mon~a~e i~uunnce. if aay. alt u ~+eaton~bly atimatod initislly and tian !
dma to time by I.eoder oa tbe buia of auesunents artd bills and reasonabb estimsta tbereof.
Tbe i~nds :hall bo heM in aa institution the deposits or accounta oI which are insured or ~uanateed by a Federal ur ~
state ajency (includina Leader if l.ender is such an iratitution). •Lenckr sball apply tl~e F~ads W pay uid tues. ss~eumatb.
~~ns~ranca prem~ums snd ground rents. Lende~ may not cha~~e for so holding and ~pplying the Fuuds, anatyzins said aco~ouat,
or varifyint sad oqmpliat uid auessmen4 and bilk. unlas l.ender pays Borrower interest on tbe Funds aad applicabk law "
petmits I.ender to make such a char~. Borrowe~ aad *..eoder may agroe in w~tina at the time of execution of this ;
Mortp~e that interest on the F~nds ahall be paid to Borrower, and unless sue6 a~nt a made or spplicabk law ~
roquiros wch int~rest to be p~id. Leader sdalt not be required to p~y Horrower any interat or arninst o» t)n. Fund~. I.eader
shall ~ive to Borrower. witbwit cbsrge. an annual aocountieg of tbe Funds ahowing ccedits and debits to the Fund: and tbe
purpose for which eacl~ debit to tl~e Funda was made. The Fur~ds are pled~od as additional aecurity for ti~ sums secured
• by this Mortpse. .
If tbe amount of the Fw~ I~e1d by t;rude~. togcther with the futun monthly insWlraenb of Fuads payabk prior W
the due dsta of taxes, assessmeats. i~uranoe p~emiums and ground rents. shall exoeed the amount required to pay said taxa.
sss~ne~ts, intuanoe premiums aad ground nnts as they fall due. such exceu shall be: s?t Borrower's option. either j
prompdy repaid ta Borrower o~ credited to Borruwar on monthiy installmenb of Furids. If the~ a~nount af the Fund~ ~
heW by Leader shall pot be wBcient to pay tues, asaessments. iraurance prcmiums and aoound rcnts ss they fall due,
Borrower s6a11 pay to L,ender any amount necatsary to make up the deficiency witbin 30 days irom the date notiee a maikd
by I.ender to Horrowat requeatiaS PuYment thereof. , -
Upon paymeat u? full of all sua~s :ocund by this Mortgage, i.ender shall promptly r~efund to Borrower any . Fund~
held by i.eader. If under paFa~aph l8 heroof the Property is sold or the Propeny is othenvise acquired by Lender, Lender
s6a11 apply, no later tban immediately prior to the uk of the Propeny or its acquisition by Lender, any~ Funds held by
Lender at the time of application as a cradit against the :ums socurcd by this Mortgage.
3• AlMk~io~ ot T~e~b. Unkss applicable law provides ahen~?ise. alt paymenta roceived by LerKkr under the
Note aad puaacaphs I and 2 he~eof aha!! be :pplied by Lender 6~s1 in payment oE amounta psyabk to Lender by Borrower
under paragrapli Z hereof. thea to iaterest payabk on the Nae, then to tF.e principal of the Note, and then to interat and
principal on any Future Advanoes. ' .
4• CY~ i.fe~s. Borrower shall, pay ali taxes, assessments and other charges, fitKS and impositio~ attribut:bla !o
tl~e Property wirich ~pay. attain a priority over this Mortgage. and 1ea,sehold pay~nts or ground reMs. if any. in the mana;~
pmvided under parsgraph 2 hereof or, if not paid in such manner. by Borrower making payment. whea due. dira:tly to tbe
payee thareof. Borrower a6a11 promptly furnish to Leader ill notica of amounts due under this paragrsph. and in t6e event
Borrower shall make payaxnt diroctly. Bortower shall promptly furnish to Lender raxipts evidencins such payments.
Borrower shalt promptly discharge any lien which h~ priority over this Mortgage; provided. that Borcowe~ shall not be
required to discharae any w¢h lien so long as Bonowtr shall agrce in writing to the payanent of the obligation secured by
suc6liea in a maaner acoeptaWe to Lende~, or shall in good faith co~test wch lien by, or defend enfor+cement of such lia~ in.
legal proceedings whi¢h operate to preveat the enforcement of the lien or forfeiture of the Propeny or any.put thereof.
s• Huud lawrawce. Bocrow~er shall koep the improvements now existing or hereafter erceted on the Property insured
agaia:t loas by Srt. ha~ards included within the term "extended coverage", and such other hazards ss Lender msy roquire
and in such amounts and for such periods u Lender may Tequire; provided, that Lender sball not require that tt~e amount of
such oovera~e excad that amount of ooverage required to pay.the sums secured by this Mortgage. }
Tbe irauranee carrier providing tbe insurance shal! be chosen by Borrower :ubjoct fo approval by L.ender, provided, '
tbu such approval sha11 not be unreasonabty withheld. All prcmiums on insuranve polici~s shall be paid in the manner ~
provided under par~rsph 2 hereof or, if not paid in such manner, by Borrower mslcing ~yment, when due. dirxtty to the
insurance anier.
AU inwranoe policies and renewals thereof sha!! be in form accep~able to Lender and shall include a standard mortgage ;
clxuse in favor of and in fotm acceptabk to Lender. Lender shall have the right to hold the policia and renewds thereof. i
aud Borrower shall promptly furai:h to Lender all renewal notices aod all receipta of paid ptemiums. in .the eveat of ioss. ~
Borrowe~ shall give prompt aotice to ihe insurance canier and Lender. Ltnder may make proof of bss if not made promptly ;
by Borrower. .
Unles~ Lender aad Borrower otherwix agrce in writing. insurance proceeds shall be applied to ratoration or npair oE .
the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
not tf~ereby impsired. If such rcstoration or repair is not economically feasiWe or if the security of this Mort~age would
be impaired. the insurance proceods s1~a11 be aPAlied to the suau securcd by this Mortgage, with the eacess. if any. paid ~
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to Borrowet. If the Ptoperty is abandonod by Borrower, or iE Borrower fails to respond to [.ender within 30 days from the
date notioe is mailed by Lender to Borrower that the i~urana carrier offers to settk a claim for insurauce benefits~ Lender
is autborizect to coltect and apply the insuranoe prooeods at Lender's optioa either to ratoration or cepair of the Property
or to the sums secured by this Mortgage.
~Unless L.ender and Borrower atherwise agree in writing, any such application of proceeds to. principal shall not extend
or postpone the due date of the monthly installments referrcd to in paragraphs 1 and 2 hereof or change the unount .of
such.insta8ments. tf under paragaph 18 6ereof the Property is acquired by Lender, all right, titk and intersst of Bonower _
ie and to any iraursnce policies and in and to the proceeds thertof raultiog from dama6e to the Pwperty prior to tl~e sak
or acquisition shall pass to Lender to the eztent of the sums secural by this Mortgage immediately prior to 'such sak or
acquisitian.
6. treaenatio~ a~i Maiefeeasce ot Propert~, Leascbolds; Cosdoa~u}ra~ Pfaened U~ Dtvdopmesb. Borrowtr
shal! keep the Property in good repair and sbaU not commit waste or permit impairment or deterioration of the Property
and shall comply with the provisions of any ksse if this Mortgage is on a leasehold. lf this Mortgage is on a unit in a
condominium or a plaaned unit development, Borrower shall perform alf of Borrower's obligations under the doclaration
or covenaats creatina or governing the condominium or plartned unit deveMpment, the by-laws and regulations of the
condominium or planned unit development, and constituent documents. lf a coedominium or planned unit development
rider is executal by Borrower and recorded together with this Mortgage, the coveoants an~ agreements of such rider
shall be incorporated into snd shall amend and supplement the covenants and agroements of this Mortgagt as if the rider
were a part heroof. _
7. 1'rotectbs af I.eader'i Seenrhr. lt Borrower fails to perform the covenants and agreements contained ,in this
Mortgage. or if any action or proceeding is commenced which materially aftects Lender's interest in the Property.
including, but not limited to, emi~xnt domain. insolvency. code entorccment, o~ arrangements or proceedings invoiving a
banlcrupt or decedent. then [.ender at Lender's option~ upon notioe to Borrower~ may make such appeuances. d'uburse such
sums aad take sueh action u is necessary to protect Lender's interest, including. but not limited to. disbursement of
reasonable attorney's fcat and entty upon the Property to make repairs. lf Lender roquircd mortgsge insurance u a
coadition of making the ban secured by this Mortgage, Borrower shall pay the premiums roquired to maintain wch
insurance in effcet until such time as ~he requiroment f~ such i wrance terminates in accot+dance with Borrurret's and
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