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UNIFORM COVENANTS. B~rrowe~ and Lendet covenant and a~ree as (olk?ws:
1. Psym~nt of i~incip~) ~nd tnt~nst. Oorrower shaii promptly pay when due the principal of and inte~est on the
indQ~tedr,ess evidenced by the Nate, prepaymant and late charyes as provided in the Note, ard the principal ot a»d interest ~
on any Fulure Advances securQd by this Mortgage.
2. Funds forT~x~s ~nd I~~unnc~. 5ubject to applicable law or to a wrilten waiver by l.ender, ~orrower shall pay
to Lender on the day monthty instalimenls of prnclpal and intaresl are payable under the Note, until the Note is paid in futl,
: a sum (herein "Funds") equal to one-twetflh ol the yea~ly taxes and assessmanis which may attain priority over this
Mortgage, and ground rents on !he A~operty, it any, plas ~ne-tweltth of yearly premium installments lor haza~d insurance,
plus ~ne-twelfth ot yearly p~emium installments tor mortgage insurance, it any, alt as reasaonablyestimated inilially snd irom
! time to time by lender on the basis oi assessments and bi11s and reasonable estimates thereot.
The Funtis shall be held in an instilution the deposits or accounts ot which ~re +nsured or guaranteed by a Federa! o~ '
state agency(+nciuding Lender il Lander is such an institution). Lender shall appty the Funds to pay said taxes, assRSSments,
insurar,ce premiums and ground renis. Le~der may not charge (or so holding and applying the Funds, analyzing said account,
or veritying and compiling said assessmerns and bills, unless Lender pays 8orrow~r interest on the funds and applicabte law
. permits Lender to make such a charge. Borrower and Lender may agree in writing at the time ot execulion ot this
Mortgage that interest oA the Funus shall tie paid to Borrowe?, and unless such agreement is made or applicable law ,
requires such interest to be paid, Lender shall not be requi~ed to pay Borrower any inleres?or earnings on the Funds. Lender
shall give to Borr~we~, without charge, an annual accounting ot lhe Funds showing cred6ts and debits to the Funds and the
purpoGe for which each debit to the Funds was made. The ~unds are ptedged as additional security tor the s~ms secured -
hy this Mortgage. ~
the amount o1 the Funds hald by Lender, together with the tuture monthly installments of Funds payabte prior to '
the due dates oi taxes, assessments, insurance premiums and ground rents, shall exceed the amount ~equired to pay said taxes,
assessments, insurance premiums and ground rents as they lall due, such excess shaH be, at Borrowe~s oplian, e+ther
prompily ~epaid to 8or~ower or credited to Borrawer on monlhly i~staliments of Funds. It the amount ot the Funds
held by Lender shall not be su(ticisnt to pay taxes: assessmenis, insurance premiums and ground ~ents as they fall due, .
Bor~ower shall pay to Le~ der any amount necessary to make up the deliciency within 30 days from the date notice is mailed
by Lender to Borrower requesting payment thereof. ,
Upon payment in tull of all sums secured this Mortgage, lender shal! promptty retund to Borrower any Funds ~
held by lender. It under paragraph 18 hereot the Property is sold or the Property is olh~rwise acquired by Lender, Lender
shall apply, no later than immediatety prior to the sale oi the Property or its acquisition by Lender, any funds held by ~
lende~ at the time oi application as a credit against ihe sums secured by this Mortgage.
3. Appllcatlo~ ot Payments. Unless applicable taw provides olhervvise, ati payments received by Zender under ihe '
Note and paragraphs 1 and 2 hereof shall be applied by Lender iirsl in payment ol amounts payabte to Lender by Borrower :
under paragraph 2 hereof, then to interesi payable on the Note, then to the principa! ot the Note, and then to inter+est and ~
principal on any Future Advances. ;
4. Charges; Uens. Borrower shall pay all taxes, 2ssessments and otl~er charges, tines and impositions attribulable to '
. the Property which may altain a priority over this Mortgage, and leasehold payments or gou~d ~ents, i~ any, in the manner t
provided under Qaragraph 2 hereof or, if not paid in such manner, by Bor~ower maki?~g payment, when due, directly to the
payee thereo(. Borrow8r shall prc,nntly fumish to Lender all notices oi amounts due u~de~ this paragrapn, and in lhe event ~ ;
Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
- Bor~o~ver sha!! promptly discharge any iien which has prioriry over this Mortgage; provided, that Borrower shall not be
requi~ed to dischafge any such iien so iong as Borrower shall agree in wriling to the payment oi itie obli~ation secured by
such lien in a manner acceptable to Lender, or shaU in geod faith contest such lisn by. or defend eniorcement of su:h lien in, ~
Iegal praceedings which operate te prevent the entorcement uf the Iien or t~rfeiture ot the Property or any part t~ereoL 3
5. Hazard lnsurance. Bo?~^wer shall keep the improvements now existing or hereafter ereJted on the Property insured
against loss by fire, i~azards included within the term "extended coverage", and such other hatards as Lender may require
and in such amounts and (or such periods as Lender require; provided, that Lereder shall not tequir~ that the amount of
such c~verage exceed that amount of coverage required to pay the ~um secured b~~ this Mortgafle.
The insurance carrier providing the insurance shall be chose~ by Borrower subject to app~ovaf by Lender, provided,
. that such approval shall not be unreasonabty withheld. Ail premiums on insurance policies shaN be paid in the manner
provid2d ur.~ler paragraph 2 hereof or, it not paid in such manner, by Borrower making payment, when due, directly to the
insu~ance carrier.
All insurance policies and renewals thereot shall be in torm acceptable to Lender and shall ir.cl~de a standard morigage -
clause in (avor of and in torm acceptable ro Lender. Lender shaif have the right to hotd the policies and renewals lhereof, -
and Borro~ver shali prompdy (urnish to ~ender ~N renewal notices and aU ?eceipts ot'paid premiums. In the event ot loss,
Borrower shall give prompt not~;:~ to the insurance carrier and Lender. Lender may makQ proot of loss il not made-prompily
- by Borrower. .
Un!ess Lender and Borrower otherwise agree in writing, i~sur~nce proceeds shatl be applie~ fo restoration ar reparrof
the Properiy damaged, provided such ~estoration cr repair is econom~caliy feasible and ihe security oi this Mortgage is
not thereby impaired. If such restoration ar repair is nat econ~mically feasible or ii the security of thi~ Mortgaye ~~::!d
be impaired, the ir.surance proceeds shall be applied to the sums secured by this Mertgage, with the ex~ess, if any, ~id
to Borrower. If the Property is abandoned by Borrower, or it Burrovuer tails to respond to Lentler within 30 days from the ~
date notice is snailed by Lender io Borrower tha! the insurance carrier offers to settle a claim for insurance beneiits, Lender !
~s authonzed to collec~ and apply the in~ur~nr~ proceeds at Lender s aption eilher to restoration or repair oi ihe Property
or to the sums seCUred by this Mortgage. 4
~n!ess Lender and Borrower othenvise agree in writing. any such application of proceeds to principat shail not exiend
or postp~ne the due da'.e o( the monihly instaltments reterrea.to in para~raphs 1 ant! 2 hereoi ar change ihe amouni oi
such instaltments. 1f under paragrapti 18 hereoi ihe P~operty is acquirec! by Lender, ati right, iitle ar.d interest of Borrc~wer
in and to any insurance poiicies and in and ~a the pracee~s ther~~t resulting from dama~e to the Froperiy pric,r to !he sate
or acquisition shall pass to Lende? io the extent oi the sums secured by this Mortgage immediately prior to such sale or
acquisilion. ~
6. P~eservation and Maintenance_ o!` Praperty; Lesseholds; Condoininlums; Ptanned Unlt 1?evelopmenta. .
Borrowe~ shall keep the Prope~ty in good repairand shaN no! comm~t waste or permit impairmenl or deterioration of the Pra- - '
_ Fe~ty and shall comply with the provisions oi any lease il this ;Nortgage is on a leasehold. If this Mortgage is on a u~it in a
_ condo~ninium or a planned unit developmen!, Borrower shalt pertorm all oi Borrowers oblig~tions under the declaration
or co~ienants creating er.governing She condominium or planned unit deve~opment, the by-iaws and regu!ations oi the
conCominium or pianned umt developmen~ and constituent da;umer,ts. If a condosninium or planned unii c;2velopment
r+der is executed by 8orrower and recorded together wilh this Morlgage, the covenanls and agreements ~f such ~ider
shali Ce ~ncarporated into and shall amend and supp!ement the covenanls and agreements oi this Mortgage as i( the rider
ti~.ere a part hereof. . ' ~
T. Protec#ion ai Lender's Security. li Borrower tails to pe~torrri the covenanis and ~greaments contained in this
Mortgage, or if any action or proceedins is commenced which materiaily altecis Lenders interest in the Property,
includin~, but not limiled to, eminent domain, insolvency, code enf9rcement, or arranyements or proceedings involving a
bankrupt or decedenl then Lender al Lenders opt;an, upon notice to Borrower, may make such appearances, disburse such ?
sunis and take such action as is necessary to protect Lenders in?.erest, includ~ng, but not !imited to, disbu~semenis ot ;
reasonable attornEys ~ees and entry upon the Property to make repairs. It Lender required mortgage insurance as a ~
condition ot mak+ng tne losn secured by this A~ortg~ge, Borrower shatl pay the premiums required to maintain s~ch
insurance in etiect until such time as the ~equirement (or su~h insurance terminates in accordance with Borrowers and ~
_s
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