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UNIFORAI CO\'F.N.~NTS. BOf~OVVC~ 1O/I I.COI~Cf CO~'CII:~~•~ .,~,,i :~gr~c ar fulloHS:
1. Payment of Principd aud Interest. tii~rrowe~ ~h:~., y~r.~rn{•tir pa~• N~hen due the principal of and intercst un the
indeb~edness evidcnced hy the Note, prepayment and late ch..rgc. a. proci~ed in the tiote, and th~ principal of and interest
on any Future Advancec secured b~~.thic Mortgage.
2. Funds for Tpxes and Iasurance. Subjcct to appli~ablc ~aw• or to a W~ritten waiver by l.ender, Borcower shall pa~•
to [.ender on ~he driy monthly inctallments of prinripal an.i intrre.t arc pa~~able under the Note, until the'.~utc is paid in full,
a sum (hercin "Funds") equ~l lo one-twelfth ot the yra~l~ ta~c. anJ ascescmcros whi~h may attain priority over this
Mortgagc, :?nJ ground rents on thc Pmpcrt~~, if an~~, plus unr-tw~l(th uf ~carly premium installments for hazard insurancc,
plus onc-twclflh af yearly prcmium installments for m~~rtgagc insuranrc. if any. all as reasonably cetimated initially and from
[imc to time by l.ender on the basis of assessments and hill. anJ re.~,unablc es~imatcs thereof.
"Il~e Funds shall t?e held in an institution ~he deEx~sit. ~~r a.•c~~unts ~.t which are insured ~r guaranleecl by a Fecieral or
state agenc~~ (incl~ding Lender if l.ender is such an insti~utio~~l. 1 ender shall appl}• the Funds to pa~~ said taxes, assessments,
insurance premiums and ground rents. 1_ender ma~~ not charge f~~r hi~lding and applying the Funds, anal~~zing said account,
or verifping and compiling said assessrmnts and hills, unless Lend~r p:i~. Borrower interest on the Funds and applicable law
permits Lender to make such a ch~uge. Borrower and l.en~~r ma~~ agrr~ in writing at the time of execution ot this
1lfortgage that interest on the Funds shall be paiJ to l3orrower, and unlr~s such agrecroent is maJe or applicable law
requires suc:~ interest to be paid, Lender shall not tx rcyuired tu pay Borro~ver an~ interest or earnings on the Funds. I_ender
shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds w~as made. The Funds are plcdgcd as additional securitp for the sums secured
by this Mortgagc.
If the amouM of the Funds held by LenJer, tugether with the future monthl~ installmcnts of Funds pa}~ablc prior to
thc due dates af taxcs, asscssments, insurance premiums and ground rents, shall e~?cced thc amount reyuircd to pa}• said taxcs,
assessments, insurance premiums and ground rents as thay f~lt due, such excess shall be, at Borrower's option, either
promptiy repaid to Borro~~~er or credited to Borrower on monthly installmcnts of Funds. If the amount of thc Funds
held by Lender shall not be sufticie~t to pay taxes, assessments, insurancc premiums and ground rents as they fall due,
Borrower shall pay to Lender aop amount necessary to~make up the deficienc~~ wiihin 30 days from the date notice is mailed
by Lender to Borrower requesting payment thercof.
Upon payment in full of all sums sec:ured by thic Mortgagc. Lender shall promptly rcfund to Borrower any Funds
hel~ by Lender. If under paragraph 18 hereof the Propcrt~• is ~eld or thc Pro{+erty is otherwisc acquircd by 1_ender, I_cnder
shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lcnder, any Funds held by
Lender at the time of application as a crcdit against thc sums secured hy this Mortgage. ~
3. Applieation of Paymeats. Unless applicable law provides atherw•ise, all payments received by Lender under the ~
Note and paragraphs 1 and 2 hereof shall bc applicd by Lcnder first in p:~pn~ent of amounts payable to Lcnder by Borrow~er ~
under paragraph 2 hereof, then to interest payable on the Note, then to thc principal of the Note, and thcn to interest and
principal on any Future Advances.
4. Charges; Lkns. Borrower shall pay all taxes, assessments and othcr charges, 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 manaer
provided under paragraph 2 hereof or, if r.ot paid in such manner, by Borrow~er making payment, when due, directly to the
payee thereof. Borrower shall promptly furnish to Lender aU.noticcs of amounts duc under this paragraph, and in the event
Borrower shall make payment directly, Borrower shall promptly fumish to l.ender receipts evidencing such payments.
Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
required to discharge any such lien so long as Borrower shall agree in N•riting to the payment of the obligation secured by
such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
5. Hazard Insurance. Borrower shall keep the improvements no~ esisting 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
i such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
The 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 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
; insurance carrier.
I AI1 insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a stanJard mortgage
~ clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof.
j and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. tn the event of loss.
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration 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 security of this Mortgage would
be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by I.ender to Borrower that the insurance carrier ofTers to settle a claim for insurance benefits, I.ender
is aut6orized 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.
Unless L.ender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
suc6 installments. lf under paragraph 18 hereof the Property is acquired by I.ender, alf right, title and, interest of Borrower
` in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
~ or acquisition shall pass to L.ender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
~ 6. Preservatioa and Maintenance of Property; I.easeholcls; Condominiums; Planned Unit Developments. 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 creatiag or governing the condominium or planned unit development, the by-laws and regulations of the
~ condaminium or planned unit development, and constituent documents: If a condominium or planned unit development
~ rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of s~ch rider
s shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
~ were a part hereof.
7. Protectioa of Leoder's Security. If Borrower fails to perform the covenants and agreements contained in this
~ Mortgage, or if any action or proceeding is commenced which materially afiects Lender's interest in the Property,
including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or, proceedings involving a
bankrupt or decedent, then Lender at Lender's option, upon notice to Borro~ver, may make such appearances, disburse such
sums and take such action as is necessary to protect Lender s interest, including, but not limited to. disbursement of
reasonable attorney's fees and entry upon the Property to make repairs. If Lender required morigage insurance as a
~ condition of making the loan secured by this Morigage, Borrower shall pay the premiums required to maintain such
. insurance in eftect until such time as the requirement for such insurance _terminates in accordance with Borrower's and
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