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<br />UNIFORM CovexxNTS. Borrower and Lender covenapt and agree as follows: ~~ `_ ~'~ ~ O'" ~-"'
<br />1. Payraera of lAecl~al Mtl /nteresL 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 sad interest
<br />on soy Future Advances secured by this Mortgage.
<br />2. Fob for Tuts sad lawneze. Subject to applicable law ar 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 No[e, until the Note is paidin fnB,-~
<br />a tttm (herein "Funds") equal t0 one-twelfth of the yearly taxes and assessments which may attain- priority ovtr-Ihid
<br />Mortgage, and ground rents on the Property, if any, plus One-twelfth of yearly premium installments for hazard insurances
<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 Fede[il %oi
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes,-assesfrneitls,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzingsaidaccount,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borzower interest on-tbe Funds and applicable9aw
<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 applicabk~ ISw-
<br />requires such interest to be paid, Lender shall not he required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debit§ to the Fonds-=andthe -
<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 Fttods held by Lender, together with the future monthly installments of Funds payable prior 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 as they fall due, such 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 no[ be sufj'icient [o pay taxes, assessments, insurance premiums and ground rents as they fall due:
<br />Borzower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed-
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds -
<br />held by Lender. [f under paragraph 1R hereof the Property is sold or the Properq• is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior t0 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. AppBcation 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 Lender first in payment Of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall 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 ar ground rents, if any, in the manner
<br />provided under pazagraph 2 hereof or. i( not pard in such manner. by Borrower making payment, when due, directly to the
<br />payce thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has prionty over this Mortgage: provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien hy, or defend enforcement of such lien in,
<br />legal proceedings which operate t0 prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard Insurance. Borrower shall keep the nnprovements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazazds included within the terra "extended coverage", and such other hazards 2s Lender may require
<br />and in such amounU and for such periods as Lender may require; provided, lira[ Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage reyuued to pay the sums secured by this Mortgage.
<br />The insurance carver providing the insurance shall be chosen by Borrower subject to approval by Lender: provided,
<br />[ha[ 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 nor paid in such manner, by Borrower making payment, when due, directly to [he
<br />insurance carrier.
<br />AtI insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in [avor of and in form acceptable to [,ender. L.endcr shall have the right to he?Id the policies and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice t0 the insurance carrier and lender. Lender may make proot of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied t0 restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned h}^ Borrower, or it Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier o(iers t0 settle a claim far insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Utiless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone [he due date of the monthly installments referred to in paragraphs I and 2 hcreol or change the amount of
<br />such installments. If under pazagraph 1 R hereof the Property is acquired by Lender, all right, title and interest of 60rrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior t0 the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage rmmediatcly prior n? such sale or
<br />acquisition.
<br />6. Preservation and Maiotenaoce of Properly; Leaseholds; Candomiuiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shall not commit weste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if flits Mortgage rs tin a leasehold. IC this Mortgage is on a unit in a
<br />condominium Or a planned amt development, Borrower shsll perform all Of Borrower's obligations corder the dcclarauun
<br />or covenants creating or governing the condominium or planned unit development, the by-laws and regulatiuus of the
<br />condominium or planned unit development, and constituent documents. If a condominium or planned unit Development
<br />rider is executed by Borrower and recorded mgether with flits Mortgage, the covenants and agreements of such nder
<br />shall 6e incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the ddcr
<br />were a parr hereof.
<br />7. Protection o[ f,ender's Security. If Borrower fads' to perform the covenants and agreements uxnatned m this
<br />Mortgage, or if any actiao or proceeding rs commonced which materially at7ects Lender's interest in the Property.
<br />ineluding, but not 13mited to. emitrent domain. insolvency, code en lorcemem, or arrangements ur proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sums and take such action as is necessary to protect tender's interest. including, but not limned u?, disbursement of
<br />reasonable attomay's fees and entry upon the Property to make reparn. It Lender rcyuireJ mortgage insurance as a
<br />condition of making the Loan se~:urod by thts Mangage, BOrrnwcr shall pay- the premurms regmred to mainta+n such
<br />insurance fn effect undi such time as the reyui[entent for such msu ranee terminates m accordance w=rth Borrow-cis anJ
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