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UNif(lRA1 C'u~fn..!~~s. kiorrower and l.endrr cu~en~ni ~n~1 aKrre ss fbil~ra: 1 i..~'+
1. Payment of Principal and Interrst. t3~~rr.~Her shal) promplh~ pay ~hen Juc the principal ~~f and interest un thc
indebtrdi~ess e.~~denced by the Note, prepayment and latr chargcs as pro~•i~ed in the Note, and the prinripal of and ~nterest
on any Future Advances se~ured by this l~lortgagr.
2. Funds for Tues and Insurance. Subje~t to applicable IaW or to a written waiver by Lender, Borrower shall pa~
to I.enJer on thc: day moathly installments of principai and interest are pa~~able under the N~te, u~til the Nute ~s paid in iull,
a sum (hercin 'Fun.is"1 equa! tu one-twelfth of ihe }•ec?rl} tarr. an~i assrssnients which ma}~ attain priority over th~.
Mortgage, and ground rents .~n ~he Ptopert}. if an}•. plus une-tw•elfth of ycarl}• premium installments for ha~~rd in~urance.
plus one-tWelfth .~f }•earl~~ prc:miun~ installm~nts for mortgage ~nsurancr, if any, ali as reasonably e~timated inihal!} an~l from
time t~~ umc hv Lender an the basic of .~ssessmcnt, and bi{Is and rea~onable estimatrs thereaf.
The FunJ~ shalt he held in an instnution the depusits ur a~~nunb ~~f which are insure.i ur guarantce.l by a Fe~eral u*
state a~rn~~ Iincluding Lend~r ~f l.rn~er i. ~urh aii instituu~~n). Lrndcr ~hail :,ppl~ the Funds t~, pa~ ~aid t:?~es, a,.r~~ment~.
i~uuran~c preinium. and ground rent~. Lcnder ma~ nut ~hargr t.~r ~,o holJing and appl}~ing thc Fun~1,. analyzing saiJ ac~~unt.
or verify~ng an~ rompiling .aiu asse~.ments and bilh, unie~s l enJcr p~}. IIorruw•er interest un the Fun.is and applicable IaH
permih l_end~r t~~ makc Such a charge. Burruwe? an.l Lrn~l~r ma~ :,grei in Hriting at thr tinte oC e~ecutiun ot th~~.
titortgage that intere~t .~n the Fun.i. shall be pa~d to B~~rrowc~, and unlr~~ tiu.h agreemcnt i. ma~ie ur ~Pplicahlc ta~
reyuires surh interest t~ t~e pa~~, Len~er shall not tx reywred t~~ p3~ B.~ir.~wer ,~m ~ntrrest or rarning~ un the FunJs. Len~i.t
shaU g~~e tu F3urruw•e~_ uithout ch~rge, an an~~ual ac~.~unt~ng ~•f thr f~unJ. ahrµ~ng credit~ ancl .iehih to th~ F=un~1s an~1 th~•
purpo~e f~r wh~ch cach dehit t~~ the F•unds wa. ma~r. lhe FunJ~ arr pledgr~i a~ addiiiunal se~unt} for ahe sums se.:ur~u
b}~ thi. Af~rtgage.
It thc :,mount af the Funds hcld by Lrn.icr, tugcthrr ~~ith thr future monthl~ instal{mcnh ot f~unJ. pa~~ablc prior tu
the due ~at~a af la~~s, assrs~ntenlti, insurance prcmiums ;~n~i gr~~und rrnts, shali e~cred the amount r~yuired tu pa~ saui ta~es,
asscssmcnb. ~nsurance prem~um~ and gruund ren[, ~s thr) (a~l du~, su~h c~c~ss shali be, at k3orrotier's uptwn, eiih~r
promptl} repaid to Borrouer ur ~rcditrd tu Borrower un monthl~ in;tallments ~f Fundti lf the amount of the I=und~
held b}• Lend~r shall not be sufticient to pay taxcs, assc~sm~nts, ~mur.+ncr premium~ and groiind rent. as the}• fall due,
Borrowe~ shall pay t~ Lender am~ ar.~ou~t neces.:+n~ t.~ makr up the detic~enc~ within 30 da~~ from thr date noti~e i~ inaite.i
by Lender t~~ Borrower reyu~sting payment ther~ol.
Upon payment ~n full uf ali sums secured b~• thi, rtortgage. I.endcr shali prompil}~ refund tu Borro~~•er an~~ Fun~ls
held M• LenJer. If under paragraph li+ hereot thc Prop~rt~• i, .old or thr Prop~rt~ is otherwise aryuir~d bc l.~nder. I.ender
shall ~ppl}~, nu later than immediatcl}• prior to ~he tialr ~~f the Propert~ or ~ts acyui~~tion b~• l.endrr, an} Funds hel~i by
Lend~r :~t thr time of application as a credit against thc sum~ secured b~ thu titortgage.
3. Application of Payments. Unless apphcablc laK proviJes other«ue. all payments recci~ed b}• (.endcr un~er the
Notc and paragraph. 1 and 2 hcrco! shall be appi~ed b}• t.ender firtt in pa~ment uf amounts pa}~able to Len~ler by Borrower
under paragraph 2 hereof, then to inlerest payable on thc Note, then to th~ principal of the Note, ~nd then tc. intcrest an~t
princ~pal on any Future Advanccs.
4. C6arges; Liens. BorroHer shali pay all taxes. :?esessments and other charges, finee and impositions aUributahl~ to
the PropeRy which may attain a priority orer this Mortgagc, and lea~ehuld pa~~ments or ground rents, if an}•, in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrow•er making payment, when due, directly to the
payee thereof. Borrower shall promptly furnish to Lender all nouces of amounts due under this paragraph, and in the event
Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts e~~idencing such payments.
Borrow•er shall promptly discharge any lien which has pnority over this Mortgagc; provided, that Borrower shall not be
reyuired to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured b}~
such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend ereforcement of such lien in,
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or an}• part thereof.
5. Hazard Insurance. Borrower shall keep the improvements now~ existing or hereafter erected on the Property~ insured
against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
' and in such amounts and for such periods as Lender may reyuire; provided, that Lender shall not require that the amount of
~ such coverage exceed that amount of coverage reyuired to pay the sums secured by this Mortgage.
j The insurance carrier providing ihe insurance shall be chosen by Borrower subject to approval by Lender, provided,
4 that such approval shall not be unreasonably withheld. All premiumc on insurance policies shall be paid in the manner
~ provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
i 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 Lender. Lender shall have the right to hold the policies and renewals thereof.
e and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of Ioss,
~ Borrower shaN give prompt notice to the insurance carrier and Lender. Lender ma}~ make proof of loss if not made prompdy
~ by Barrower.
Unleas Lender and Borrower otherwise agree in w•riting, insurance proceeds shall be appiied to restoration or repai: of
~ the Property damaged, provided such restoration or repair is economically feasible and th~ security of this Mortgage is
not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would
~ be impaired, the insurance proceeds s6a11 be applied to the sums secure~ by this Mongage, with the excess, if any, paid
to Borrower. If the Property is abandoncd by~ Borrower, or if Borrower fails to respond to ~ender within 30 days from the
k date notice is mailed by L,ender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
~ is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
or to the sums secured by this Mortgage.
Unltss Lender and Borr~w~er otherwise agree in w~riting, any such application of proceeds to principal shall not extend
~ or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
~ such installments. If under paragraph 18 hereof the Property i~ acyuired b}• Lender, all right, title and interest of Borrower
in and to an} insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to !he sale
~ or acyuisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
r acqoisition.
~ 6. Ptesenation and Maintenance of Propert}; Leaseholds; Condominiums; Planned Unit Developments. Borrower
~ shall keep the Property io 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 condomini~m or planned unit deveiopment, the by-law•s and regulations of the
_ condominium or planoed unit deveiopment, and constituent documents. If a candominium or planned unit development
nJer is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
shall be incorgorated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
were a part hereof.
7. Protection of Lender's Security. If Bnrrower fails to perf~rm the covenants and agreements contair~ed in this
Mortgage, or if any action or proceeding ~s commence~i which materiall}~ affects Lender's interest in the Propert}~,
including, but not limited to, eminent domain, insolvenc), code enforcement, or arrangements or proceedings involving a
~ bankrupt or decedent, then Lender at Lender's option. upon notice to Burrow•er, map make such appearances, disburse such
~ sums and take such action as is necessar}• to protect Lender's interest, ~nclud~ng, but not limited to, disbursement of
~ reasonable attomey's fces and entry upon the Property to make repairs. If Lender required mortgage insurance as a
~ condition of making the loan secured by this Mortgage. Borrow•er shall Pay the premiums required ro maintain such
insurance in efTect until such timc as the requirement for such insurance terminates in accordance with Borrower's and
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