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UNIFOR\t Cb~'F.ti~?Il'S. HOf(l1N'tf :~nJ Len.l~r ru~enant an~l agrre a, folt~~~~: •
1. PAyment of Principai aqd interesl. Borru~c~r shaii prumrtly pay ~~hrn ~fue thc pri~~ripa! c~f and int~rest un thr
in~ebtedness e~idence~l by thc Notr, prepayment an~f late chargr~ pruviiled in the Note, and the principal of and iMCrect
on any Future Advanre. secured b~~ this Mortgage.
2. Funds tur Ta:es pnd lnsurnnce. Subject to applic~ble IaH or to a written waiver by [_endcr. Horrow•er shali pay
to Ixndcr on thc d:~}~ monthly inetallmcnls of principal and intcrc,t arc p:~yable undcr thc Note, until thc Notc i~ paid in full.
a sum (herein "FunJs") equal to one-tNelfth of the yearl~~ ta~r~ snd :~ticcssmcnts which may apain pri~~riry over this
Mortgage. and ground rents on the Pra~rty, il an~~, plus one-t~clfth of )~carly prcmium installm~nts for harard imurance,
plus one-tMCI[th of }early premium installments tor mortgagc insurancc, if any, all as reasonably cstimatCd initially anJ from
time to time b}' I_ender on thr basis o( a»essm~ntt :~nd bili~ an~! rcasunaolr estimates thereot.
"iiie Funds shall be held in an institution ~hc depositti ~~r ar~~owus a[ which ;~re inwred or guarantced b~• a Federal or
itate ag~ncy (including l_ender if I.ender is such an institution). I endcr sh:~ll ;ipply the Furds to pay said taxes, assessments.
insu~ance premiums and ground rems. Lender may not charge lor ,o h~~lding and applying the Funds, analyzing said acrnunt,
or ~•erify~ing and compiting said assessments an~ bills, imlrss Lender pays Bnrrower intcrrst on ~he Funds :+nd applicable !aw
permits Lender tu make sueh :i charge. Burruwer and Lrndcr ma}• akrrc in writing at the time of cxecution of ihis
~fortgage that interest on ~he FunJs shall he paid tu Borr.~Hrr, and unless such agreement is made or appficahle law
reyuires such interest to he paid, l.cnder shall not hi: reyuired tu pa~• Burro~~er any interest or earnings e~n the Funds. Lenclcr
shalt give to Borrower, without char~e, an snnual a~cuunling ~~f the I~ui~d~ showing rredits and dehits to the Funds an~i thc
purpose for which each debit to the F=und~ was made. The Funds arr pleJged as addition~{ security fnr the sums secured I
this ;~tortgage. ~
If the amount of the Funds held by Lemler, tugether Nith the future monthty inst:~llments of Fernds payable prinr to
the due ciates of taxes, assessments, insurance premiums and ground ren[s, shaU e~ceed !he amount rcyuired to pa)' said taxes,
assessments, insurance premiums and ground rentti a~ the} fall due, such e~re,s shall be, at Borrower's option, ~ither
promptly repaid to Borrower ur credited ta Borrawer on moMhl~• installmrnts of Fund.. If Ihc amount of thr i=unds
held by Lender shall nat be sufi~icient to pay ta~cc, asse~sm~nts, imi+r;~nrr premiums ;~n~ ground rents as they fall duc,
Horrower shall pay to Lender an~~ amount neressan t~~ m;~kc up thc ~ictic~enry within 30 da~s fram the date noticc is mailed .
by Lender to $orrower reyuesting paymcnt thereot. .
Upon payment in full of all sums sc~ured by thi~ !1lurts;aec, I cndcr shall pramptly refund ta Borrciacr any FcrnJs
held by Len~ier. lf under paragraph i~ hrr~uf thc Pniprm i~ .c~ld e~r thc Propcrt~ ~s otherwix arquired b~• Lcnder, Lrn~ler
shal! apply, no later lhrn immediatel~• prior to thr ~alr ~~f thr Pruprn}' ~~r its ;icyuisition hp Lcnd~r, any Funds hcl~l b~
t.ender at the time u( application as a cre~it aga~nst the sum~ ,~cure~l M th~. ~1c,rtgage.
3. Application of Pa}ments. Unle.s applicahl~ la~ ~r~~~i.ies oth~n~i~r. all pa~ments rereived by (.~nder un~trr the
Notc and paragraph+ 1 and 2 hcreof sh:~fl bi aprli~~ b~- 1.rn~rr fint in payment uf amuunts pay~.ibl~ to l.rn~lcr h}• 13~~rru~cr
under paragraph 2 hereof, then tu interc~t payable un thr \utr. thrn t~~ thc principsi of the Notc, an~i then to intcrest and
pnncipal un an}' Future Advanccs.
4. CharRes; Liens. Borroaer tih;ill pa~ all ta~e., a,~~~.mrnls an~i ~~th~r ch:irg~,. fin~ti :~n~ im~?u~itiuns atlr~butahle tu
the Propert~~ «hich may attain a pnorit}~ o~•er thi~ ~tortgagr, and Ica~rh~~f~l paymcnts ~~r groimd rents, if any, in thc manner
provideci un~lcr paragraph 2 hereof or, if not p:ud in .uch n~.enncr, b} B~~rrow~r m:+king pa~•mcnt, when duc, ~irectly to thc
payee thereof. Borrower shall promp~l~~ furn~~h tu l.en.i~~ aIl nou~u of amounts duc under this paragraph, and in the event
Barru«er shall makr pa}mcnt ducr~l~. B~~rru~~rr .h;~ll pn~mptl~ iurni,h t~~ Lrn.icr r~c~ipts rvidencing surh pa)~mcntti.
Borrower shall prompth• ~fisch;irgr an}' tien :~hich has ~n~~nt}~ u~rr thi. 1lurtgace: proviJed. Ihat Borr~~wcr tihall nut be
requ~red to d~~charge a+i~• ~uch lie~~ ~u lung as F3~~rru~+~r ~h:~ll :~gr~r in ~~riting ti~ thc pa)menl af thr ~~bligatiun ~~curcd h}'
~uch lien ~n a manner acceptable to Lender. c,r .hali in L~a~J f.~ith ~untr.~ .u~h lirn h~~, ~r ~IefenJ enf~~rcement ~~f such lien in,
leeal pruceeding. ~hich operate to pre~ent thr enf.~rcrntrnt ut thr li~n ~~r lurfcitur~ of the ('roEx:rt)' i~r an)' part thereuf.
5. Hazard Insurance. Borro~~er tihall I.ecp th~ im~n~~~m~nt, nu~ti ~~i.ting ~~n c~r~aftcr rrr~ted on the Pr~~~rty intiured
against I~~~s nt• Ere, hazard~ in~lud~d µith~n thc term "r~trn~~.f c~,~rni~;r`. ans such othcr hazards ati l cndrr m~}• reyiiirc
anJ in surh amounts an~ for surh ~xriod. ;n Lcnder m.i~ rryuirr: {~n~~ idc.L th~t Lcn~kr tihall not rcyuirc that thc amuunt uf
Such c~n'Cragr excC~d [h:~t :~moun[ uf c~~~era~e r~yuirtd M~a~ lh~ .~im~ ~crurcd h~ this ;~lortk:tge.
The insuranre rarricr providing ;he in~uran~c tihalt hc: .:h~~,en h~• B~~rruwer subject to appro~~al by Len~ler, prm•ided.
that su~h appro~•al shall nut bc ;inreawnahl}~ u~ithhcld. :11! ~rrmium. ~m insurancc pc~licics shall br paid in thc m~nncr
provided under paragrapn 2 hercof ur, if nut paid in ~uch manncr. M B~~rro~~er making payment, when dur, ~iirectly to thc
imurance carrier.
All insurance policie, an~ ren<<~als thcr«~t ,h,~il h~ in f~~rm .i::c~t,~hl~ t~i I.en~lrr .+nef tih:ill tncludr tit.~n~lard mi~rtg:ige
~lause in fai~,r c~F and in f«rm a~~eptahle t~~ lxndrr. l.en~~r ~h.~ll h:~~r the right t~, huld thc p~,li:ic, :~n~ r~i:c«als thcrei•f.
un~3 Borru~~er sh:~ll prumpth furnish tr Lendcr nll r~nrw,~l n~~ltce~ an~i all r~ccipts oti ~aid (~remiutn.. In Ihe e~~nt uf lo~~,
Borr~~w~er ~half g~~c pr~,mpt nonc~ ti~ the ;nsur.~n~~ ~:~rnrr .ui~i I.en~cr. I.en.lrr m:~~ maF.c pre~~~t uf toss i( n~~t ma~~ pr~,mptlt
h~ Borrower.
Unless I.en~er and Borru~?cr othrru„~ agrrr in ~tntink. imur.inie pr..~rr~1~ shall tk applicd t~ re~ti~rati~~n ~~r rep:~ir of ~
the Propert} ~~magc~l. prc~~•i.lcd ~u.h rr.toratiun rr re~air i, e:,,n~,mi~.~ll~ t~:ttiihl~ :ind thc tiecurit~ of thi~ M~~rt~:igr i~
not thereb~• impa~red. If su~h reil~~reli~~n of r~~.ur ii n~~t ~•~~~n~~~ititi:~ll~ f~.~~lhl~ ~+r ii ihc sc~uiit)' uf ihn 11i~rtgag~ t+'cutld
be impaired, the insurance pruceeJti tihal! be :~p~lieil t~~ [hr tium> >~ri~r~~! t~) thi~ \furtgagi. ~+i1h the e~4e~s, if an}. paid
to Bc~rrowrr. fi the Propc:rt} is .ihan~i~~n~~i h~ H~,rn~:+rr. t~r it t3~•rmwer tuih t~~ re~(h~n~ I.cnd~r within 3l1 da}~ fr~.m the
Jat~ nati~e i, mculed b~ 1_ender tu Borr~,«cr th,~t thr in,ur.~n~e ~arri~r <~ticr, to uttlc claim fur ~n,uranrc henrfih, I.cn~ler
i~ authorit.cd tu collect anJ app~~ the imuran~e prrc~eJ, at I.rrni~r". ~~nti~~n either to resturation ~~r repair e~f thr Pru~rtj
or to thc sum> >~cured h~• this ~I~rtgag~.
Unles~ I.endcr and Borruuer ~,then~i,~ .igr~r in ~~nt~nc. an~. ,~irh ;s~E,li~:,tiun ~,f pr.,~ceds to E,rincipal ~h:~ll n~~t ~~tcnd
vr pustponc ~he due date of thc m~~nthl~ intitallment. r~f~rrr~l t,~ in p.ira~r.~ph~ 1:~~i~l ? hcr~„f ~~r chan~.c Ihc amount ot"
~uch in~tallment~. If un~ier para~raph 12i hereuf thc i'm~xrt~ i, .u_yuir~.1 h~ Len~irr. .iii nght, title an~ intere;t of Borr~~ucr
in and to an~ ~n5uran~~ paiicies arid in anel t~~ the pruccr~i. Ihrreut r~.ult,ng tn~m ~lamat;~ t~~ thc Pru~rt~ pri~~r to thr ~ale
or acyuuitio~~ ~htill pasti to Lender to the ~~tcn~ uf ih~ ~un:, ~~turc~i h~ thi, \t~~rtg:+g~ immediatrly priur t~~ ~uch ~alc ~}r
acyuisition.
6. Pteser~ation and ~taintenancc of Pro~?ert}; Lca~chuldti; ('undnminiumti; Planned l;nit Ue~elupmcnts. 13~rro~icr ;
si~aii kcep tiic PiuEn~riy ~u ~~h,d ;.pair and ~.hall ne,t commit ;~.astc ;~r pc::r.it ir.^.;.s;rm^~t O~ ~Jeleri~ratinn of the Pro[x:rty' ~
and shall compl~ ~?ith the pro~•isiuns uf an~ lcsse if thi. ~1~vtk.ige i~ ~m a I~as~h~~ld. It thi~ !~lrrtg:~t;~ i, un a unit in a j
con~fuminii~m ~v a planncd unu ~lc~rl„pm~nt. Burn~«rr .h.~l! E,rri~,rm :~I{ uf B~~rr~,wcr's ~~hlig~tiuns undcr tii~ ~leclaratirn '
~~r covenants creating or ~;uvernin~ thc crndrmin~um ~~r rl:~nnr~1 ~~nit ~le~el~~pm~nt. the b}'-iaw~ and regulatiuns e~f the
cunJominium or planned unit de~etupment. .~nd r~,n,titurnt et«~ui~icn~~. a r~,nJ~,minium or rl:~nned unrt ~tc~rl~~~ment '
r~cler e~erutcd b} Borrouer and re~c!rdrJ t~~gether ~~ith thn ~`.~~rtgagc. thr ~~nenanlti anJ agr~cmrnh i~f ~uch riJer
shall be incorpord[ecl inte snd sh:+ll :tm~nd ::n.! .uE~~~lrment th~ cc,~~nant. an~l a~rrrm~nts thi, Mortgagc as if thc ri~ler
~erc :t part hcreof.
7. Protection of I.ender's Security. If B~~rn~~~cr f.i,l~ a~ p~rturm thc r~~~cnant~ .iR(I agrremcnts amtained in this
Atortgag~. or if an~~ a~ti~~n <,r pro~ce~ling i. ~~•mmen~c~i «hi~h matrriall~ atTr;~ti Len~ter'ti intcrest in the Pr~~~xrt~.
inrludin~. hut n~,t liniited to. emincn~ dom.~in. in.~~l~cnc~. c~,dc ~M~~r~cmcnt. or :~rrar~gcmcnts i~r rnrcccdings im•ol~ing a
bankrupt or ~r~~dcnt. theii I.cn~lcr at I cnclcr'. ~~~ti~~n, u~xm n~~ti~c t~~ ficirmw~r. ma~ makc such ap{karanccti, dishursr ~uch
sum~ and lake such a~u~m a~ is nece~~ar~ tu pr~~te;t f.~nder'ti int~r~st, incluefing, bi:t ne~t limited te~, elisbursement ~~f
rcasonahle attorney', (eeti anc! entry up~~n the Prnpcrt} te~ m.ikc r~pair~. if l.cnder rcyiiireJ mortgage in~urancc a~ :i
cor~itinn uf makmg thc loan ti«ure~i h~ th~. \turtga~~. B~~r;~~~.rr st?all ~a~~ the premiums rcquircil t.~ maint~in such
insur~nce in etiect until ~uch timc .i~ thr r~yuiremen; for .u;h insurance tcrminatrs in aceordanee with Borrower's anJ
PaGE 7~~
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