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UNIFORM COVBNANTS. Borrowu and l.endcr cove~?ant and a~~a as follows:
1. lqmeut ot l~c~l a~d Inferat. Borrowe~ shall p~omptly pay when due the princlpal ot and interest on the
iadebtedness evidenceJ by the Note. prepayraent and fate char~es as provided in the Note. and the principal of and interest
on any Futuro Advanca secured .by this Mort~age.
2. Fbad~ to~ Tua ~ad Iaarance. Subjoct to applicabk law or to a written waive~ by Lender. Borrowe~ shall pay
to Lender o~ the day moMhly instaliments of principal and interest are payable under the Note, until the Note is paid in [ull.
a sum (herein "Fuads'~ equal to o~e-twelfth of the yea~ly taxes and assessments which may attain priority over this
Mortgsge. a~d ground rents on the Pmpeny. if aay. plus ono-twel[th of yeuty prcmium installmenta for huard insurance,
plus one-twelfth of yearly premium instaliments for mortgag~ insurance, if any. all u reuonably estimated initially and trom
time to time by Lender on the buis of assessments and bills and reasonable estimates thereof.
'iLe Funds shall be field in an institution the deposits or accounts of which are insurod or guaranteed by a Federal or
atate agency (including I.ender if Lender is such an institution). Lertder shall apply the Funds to pay said taxes. assessments.
insurance premiunu and ground rents. Lender may not cha~ge (or so holding and applying the Funds, analyzing said account,
or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law :
permits Le~der to make such a charge. Borrower and l.ender may agree in writing at the time of execution of this f
Mortgaga that iaterest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
requires such interat to be paid. l.ender shall not be rcquired to pay Borrower any interest or earnings on the Funds. Lender !
shall give to Borrower. without charge, an annual acrnunting of the Funds showing credits and debits to the Funds and the
purpcue for which each debit to the Funds was made. The Funds are plodged as additional sa:urity for the sums secured
by this Mortgage.
If the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
the due data of taxes. assessments. insurance premiums a~d ground rents. shall ~xceed the amount required to pay said taxes,
assess~nents, insurance premiums and ground rents as they fall due, such excess shal) be. at Borrower's option. either
prompdy repaid to Borr~wer or crcdited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Lender shall not be sufficient to pay taxes. assessments. insurance premiums and ground rents as they fall due,
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Lender to Borrower requesting payment thereof.
Upon payment in full of all sums secured by this Mongage, I.ender shall promptly refund to Borrower any Funds
held by I.ender. If undtr paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
shall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by
L.ender at the time of application as a credit against the sums secured by this Mortgage.
3. Apptication oE Psymenfs. Unless applicable law proviJes otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by l.ender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof. t6en to interest payable on the Note, thcn t~ the principal of the Note, and then to interest and
principal on any Future Advances. .
4. Chuga; Liec~. Borrower shall pay all taxes, assessments and other chacges, fines and impositions attributable to #
the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner ~
provided undtr paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the f
payee thereof. Borcower shall promptly furnish to Lender all notices of amounts due under this paragraph, and ia the event ;
Borrower shall make payment directly, Borrower shall promptly fumish to I.ender receipts evidencing such payments. ~
Borrower shall promptly discharge any lien which haz priority over this Murtgage; provided, that Borrower shall not be }
required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
suc6lien in a manner acceptable to L.ender, or shall in good faith contest such lien by, or defend enforeement of such lie~ in,
legal proceedings which operate to preveat the enforcement of the lien or forfeiture of the Property or any part thereof.
S. Huard InsuraQCe. Bortower shall keep the improvements now existing or hereafter erected on the Property insured
agaiast loss by fire, hazards included within the term "extended coverage and such other hazards as Lender may require ~
and in such amounfs and for such periods as Lender may require; provided. that Lender shall not require that the amount of
such coverage exceed that amount of coverage required to pay the sums secured by this Mongage. 's
Tt~e iasurance carrier providing t6e insurance shall be chosen by Borrower subject to approval by Lender, provided. i
` that such approval shall not be unreasonably withheld. All premiums on insurance policiea shall be paid in the manner j
~ provided uader paragraph 2 hereof or, if not paid in such manner, by Borrower msking payment, when due, dir+ecdy to the
~ insurance carrier.
; All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage ~
~ clause in favor of and in form acceptable to i.ender. Lender shall have tht right to hold the policies and renewals thereof, i
~ and Borrower shall promptly furniah to Lender all renewal notices and all receipts of paid premiums. In the event of loss, ~
Borrower shall give prompt notice to the insurance carriec and [.eoder. Lender may make proof of loas if not made promptly •
~ by Borrower.
s Unlesa Lender and Borrower othenvise agree in writing, insurance proceeds shall be applied to restoradon or repair of ;
~ the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
~ not thereby impaired. If such restoration or repair is not economically feasible or if the socurity of ihis Mortgage would
~ be impaired. the insuranoe proceeds shall be applied to the sums secured by this Mortgage. 'with the excess. if any, paid
~ to Borrower. If the Propeny is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
~ date notice is mailed by Lender to Borrower ihat the insurance carrier ofTers to settle a claim for insurance benefits~ I.ender
~ is authorized to collect and apply the insurance prooecds at Lender's option either to restoration or repair of the Pmperty
~ or to the sums xcurod by this Mortgage. ~
F Unless L.ender and Bonower otherwise agree in w•riting, any such application of proceeds to principa! shall not extend ~
or postpone the due datc of the monthly installments referred to in patagraphs 1 and 2 hereof or change the amount of
~ such installments. If under paragraph 18 hereof the Property ic acquired by I.ender. all right, tide and interest of Borrower
~ in and to any insurance policies and in and to the proceeds thereof resultiog from damage to the Property prior to the sale
~ or acquisition shall pass to i.ender to the extent of the sums secured by this Mortgage immodiately prior to such sak or :
~ acquisition.
= 6. Preservation aad Maintenance of Property; i.ease6olds; Comfominiums; Planned Udt Developmeots. Borrower
_ shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrower s obligations under the declaration
` or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
condominium or planned unit development, and constituent documents. If a condominium or planned unit development
; rider is executed by Boaower and recorded together with this Mortgage, the covenants and agreements of such rider
's shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
p were a pari hereof.
7. Protection of Lendec's Security. 1f Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materially aBects Lender's interest in the Property, {
~ including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proccedings involving a
~ banlcrupt or decedent, then I.ender at Lender's option, upon notice to Borcower, may make such appearances, disburse sueh
~ sums and take such action as is necessary to protect Lender's interest, including, but not limited to. disbursement of
reasonable attomey's fees and entry upon the Property to make repairs. If Lender requircd mortgage insurance u a
condition of making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such
insurance in eRect until such time as the requirement for such insurance terminates in accordance with BorrowePs and
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