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<br />UNIFORM COVENANTS. Borrower and lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and Iusurance, Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds. analyzing said account.
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earning~ on the Funds. Lender
<br />shall give to Borrower. without charge. an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable p,ior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments. insurance premiums and ground rents a5 they fall due, slIch excess shall be. at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay t3:xes. assessments. insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary 10 make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment III full of all sums secured by thIS Mongage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property IS sold or the Propeny IS otherwise acqUIred by Lender, Lender
<br />shall apply, 110 later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by thiS Mortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lcnder first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Notc. then to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; liens. Borrower shaH pay all taxes, assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over thIS Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment. when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amollnts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Born)\\'cr "hall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has pnority over this Mortgage; pn.wll..Jcd. that Borrower shall not be
<br />required to discharge any such hen so long as Borrower shall agree in wfllIng to the payment of the obligation secured by
<br />such hen in a manner acceptable to Lender, or shall in good faith contest such lien by. or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the cnfofl.:ement of the hen I.)r forfeiture of the Property or any part thereof.
<br />s. Hazard Insurance. Borrower shall keep the improvemt::nts noVo existing or hereafter erected on the Property insured
<br />against loss by fire. hazards included within the term "extended coverage", and su..:h other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; pro\"ided. that Lenuer shall not require that the amount of
<br />such coverage exceed that amount of coverage reqlllred to pay the .;,unh secu~d by this .Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, If not paid in such manner, hy Borrower making payment. when due, directly to the
<br />insurance carrier.
<br />AU insurance policies ami renewals there,-)!" shall be in form ~tixeptabk to LenJer and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. lender shall have the right to hold the policies and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal nOlices and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if nol made promptly
<br />by Borrower.
<br />Unless Lender and Borrower othef\\'isc agree in writlllg. insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such reSh.lrath)O or repatr I~ CCl..llh)lllically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repair is nllt ci.:lmomically feasible or il the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be i.lpplied h.\ the sums :-.ccurcJ OJ' thiS 1\,'lortgage. with the e.....cess. if any. paid
<br />to Borrower. If the Property is ~lbandoned t'1y Borrower. l'f jj Borrnwcr I.db III respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the Insurance carrier oilers to ~elllc it claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at l.ender's optilJn either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree III \\Tlting. any such application of proceeds to pnncipal shall not extend
<br />or postpone the due date of the monthly installments referred ll\ in paragraphs I and 2 hereof or ..:hange the amount of
<br />such installments. If under paragraph 1 ~ hereof {he I)roperty i~ al.:'l."julretl by Lender, all right, title and interest ot Borrower
<br />in and to any insurance policies and in and to the proceeds thereot resultIng from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the c.\tent I......f the sums secured. h~ this .Mortgage lIl"Hllcdiatcly prior to such sale or
<br />acquisition.
<br />6. Presen'ation and l\'laintenance of Propert)': Leascholds; Condominiums; Planned Unit I>c,'elopments. Borro\l..'cr
<br />shall keep the Property in good repair and shall not commil waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease If this Mortgage 1\ I..m a leasehold. If this Mortgage is on a unit in a
<br />condominium or a planned unit de\"eh.1pmCIll, Borrower ~hall perform all of Borro\\.CT's obligations under the dedaratlOn
<br />or covenants creating or governing the condomtnwm or planned llllil development. the by-laws and regulations lJf the
<br />condominium or planned. untt developmem, ;md ~on.sthllenl ot-l\:un,enls. ! r a ~or:Jominium or pbnned lUlU dcvd,)pmcl1t
<br />rider is executed by Borrower and recorded together \\llh thIS Mortgage. the covenants and agreements of "lll:h rider
<br />sball be incorporated into and shall amend anu suppkmcnl till: ~o"cnanlS and agreements of thl' Mortgage <IS it' the rider
<br />were a part hereof,
<br />7. Prote..::tion (lIf [..ender's M(:'Urity. If Borrower falls to pcflorm the 4,;ovcnanls and agreements ,,:ontalllcd in thiS
<br />Mort8age~ or if any action llr proceeding. " l:ommenccJ Whl~h mati,~rially ilHCl.'t~ I ender's Interest in the pf()p~rt).
<br />including, but not limlled to, eminent domain. ins.olvcnl,;}. ~I..)dc cnlorcemcnt. Llr ;urangcmcnb or pnK'ecdings involvlIlg a
<br />bank.rupt or d<<:edent, then Lender at I.enuer', {\(llion, upon notice tll Borrower. may maKe Slh.:h (lppci.lraJh:e~, dlshurse MJi.:h
<br />sums and take suth action a:o. IS ncccs.i<oary to proll..~..:t Lender\; iOh..'I"Cst. ;ndu.JlIlg. but not hnwed Il.\. dlStlurSClI1l:llt \If
<br />re-awna.ble attorney's fees and entry upon the Prupcrty t(\ mak.e rcpalf". II Lender n..'''lUHl>d nh\rtgagc llhuran>.:t.' a., ;\
<br />L'Qndltion ot making the loan sc\,":urcJ hy IhOt ~hH'lgagc. H.orro\\cr ~h,-lll pa). {he pl'I:mlUtlh rl'qulred t{l m..unt;llll ~Udl
<br />insurance in cffe..::t until SitH:h lime: ~n {he rt'{.lulr~mCnt for \ul.:h Insurance It'rlltlllatcs 1Il a,,:;':(lnJafh.:e Wllh BNrl'\\t.'f\ ,1IlJ
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