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<br />TOGETHER with all the improvements now or hereafter erected on the property, antl all easements, rights, appurtenances and
<br />fixtures, all of which shall be deemed to be and remain a part of the property covered by this Security Instrument; and all of the foregoing,
<br />together with said property (or the leasehold estate if this Security Instrument is on a leasehold) are hereinafter referred to as the "Property".
<br />Complete if applicable:
<br />This Properry is part of a contlominium project known as
<br />This Property includes Borrower's unit and all Borrower's rights in the common elements of the condominium project.
<br />This Properly is in a Plannetl Unit Development known as
<br />Borrower covenants that Borrower is lawfully seisetl of the estate hereby conveyed and has the right to grant and convey the
<br />Properly, and that the Properry is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the
<br />title to the Properly against all claims antl demands, subject to encumbrances of record.
<br />Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Finance Charges and Other Charges. Borrower shall promptly pay when due all amounts borrowed
<br />under the Credit Agreement, all finance charges and applicable other charges and collection costs as provided in the Credit Agreement.
<br />2. Funds for Taxes and Insurance. Subject to applicable law, Lender, at Lender's option, may require Borrower to pay to Lender
<br />on the day monthly payments of principal antl finance charges are payable under the Cretlit Agreement, until all sums securetl by this
<br />Security Instrument are paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes antl assessments (including
<br />condominium and planned unit development assessments, if any) which may attain priority over this Security Instrument, and ground
<br />rents on the Properry, if any, plus one-twelfth of yearly premium installments for hazard insurance and flood insurance, if applicable, all
<br />as reasonably estimatetl initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />Borrower shall not be obligated to make such payments of Funtls to Lender to the extent that Borrower makes such payments to the
<br />holder of a prior mortgage or deed of trust if such holder is an institutional Lender.
<br />If Borrower pays Funds to Lender, the Funds shall be heltl in an institution the deposits or accounts of which are insured or
<br />guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes,
<br />assessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funtls, analyzing said
<br />account or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lentler to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Security Instrument
<br />that interest on the Funtls shall be paid to Borrower, and unless such agreement is made or applicable law requires such interest to be
<br />paid, Lender shall not be requiretl to pay Borrower any interest or earnings on the Funtls. Lentler shall give to Borrower, without charge,
<br />an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funtls was made.
<br />The Funds are pledged as additional security for the sums securetl by this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due
<br />tlates of taxes, assessments, insurance premiums and grountl rents, shall exceetl the amount required to pay said taxes, assessments,
<br />insurance premiums antl ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or
<br />credited to Borrower on monthly installments of Funds. If the amount of the Funtls held by Lentler shall not be sufficient to pay taxes,
<br />assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up
<br />the deficiency in one or more payments as Lender may require.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 22 hereof the Properly is soltl or the Property is otherwise acquired by Lender, Lender shall apply, no
<br />later than immetliately prior to the sale of the Properly or its acquisition by Lender, any Funds held by Lender at the time of application
<br />as a credit against the sums secured by this Security Instrument.
<br />3. Applieation of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Cretlit
<br />Agreement and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower untler
<br />paragraph 2 hereof, second, (in the order Lender chooses) to any finance charges, other charges and collection costs owing, and third,
<br />to the principal balance under the Credit Agreement.
<br />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall pertorm all of Borrower's obligations under any
<br />mortgage, deed of trust or other security agreement with a lien which has priority over this Security instrument, including Borrowrer's
<br />covenants to make payments when tlue. Except to the extent that any such charges or impositions are to be paid to Lender under paragraph
<br />2, Borrower shall pay or cause to be paid all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />may attain a priority over this Security Instrument, antl leasehold payments or ground rents, if any. Within five days after any tlemand by
<br />Lender, Borrower shall exhibit to Lender receipts showing that all amounts due under this paragraph have been paid when due.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insuretl against
<br />loss by fire, hazards included within the term "e�ended coverage," floods and such other hazards as Lender may require and in such
<br />amounts and for such periods as Lender may require. Unless Lender in writing requires otherwise, the policy shall provide insurance on
<br />a replacement cost basis in an amount not less than that necessary to comply with any coinsurance percentage stipulatetl in the hazard
<br />insurance policy, and the amount of coverage shall be no less than the Maximum Principal Balance plus the full amount of any lien which
<br />has priority over this Security Instrument.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lentler; provided, that such
<br />approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form acceptable to Lender and shall
<br />include a standard mortgage clause in favor of and in a form acceptable to Lentler. Lender shall have the right to hold the policies and
<br />renewals thereof, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has priority over this
<br />Security Instrument.
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