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83_004343 UNIFORM COVllNANTS. BofYower and Lender covenant and agree as follows: 1~ Payment of PrfndpJlllUld Interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced bylhe Note. prepayment and late charges as provided in the Note. and the principal of and interest on any Future Advances secured by this Mortgage. 2. Fuads for Talles and Insunm<<. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Underon the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full, a .sum. (herein.. "Funds") equal to one"twelfth of the yearly taxes and assessments which may attain priority over this Mortgl\jle, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium installments for mortgage insurance. if any, all as reasonably estimated initially and from time to. time by Lender on the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution the deposits or accoonts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account, or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Mortgage that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits .to the Funds and the purpose fOT which each debit to the Funds was made. The Funds are pledged as additional security for the sums secllred by this Mortgage. If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due. such excess shall be, at Borrower's.- option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds held by Lender. If under paragrapn 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Mortgage. 3. AppIlclltlon of Payments. Unless applicable law provides otherwise. all payments received by Lender under the Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note. then to the principal of the Note, and then to interest and principal on any Future Advances. 4. Cluuxes; Uens. Borrower shall pay all taxes, assessments and other charges. tines and impositions attributable to the Property which may attain a priority over this Mortgage. and leasehold payments N ground rents. if any, in the manner provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender 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 aoy such lien so long as Borrower shall agree in writmg 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 IDSlIlllIIU. Borrower shall keep the Improvements now ex isung 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 require: provided. that Lender shall not require that the amount of such c-Overage exceed that amount of coverage required to pay (he ~\lms secured by this Mortgage. The insurance carrier providing the insurance shall be chosen by Borrower subject 10 approval by Lender; provided. that such approval shall not be unreasonably withheld, All premilUus 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, All insurance policies and renewals thereof shall be in form ..c<:CPlable to Lender and shall mclude a standard mortgage clawe in favor of and in form acceptable 10 Lender. Lender sh..1I have the righl to hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender all renewal nOllces and all receipts of paid premiums. In the event of loss, Borrower shall give prompt notice to the insurance carrier and l.ender. Lender may make prool of loss If not made promptly by Borrower. Unless Lender and Borrower otherwi;e agree in "'ritmg. insurance proceeds shall be applied to restoration or rep..ir of the Propclrty damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is not theniby impaired. If such restoration or repair is not economically feasible or if the security of thiS Mortgage would he 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 It Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier otTers to seule a claim for insurance benefits, Lender is authorized to collect and apply the insuran~'C proceeds at Lender's option either to restoralion or repair of the Property or to the swns secured by this Mortgage. Unless Lender and Borrower otherwise agree in wTuing, any such application of pro<.:eeds to prinCipal shall not extend or postpone the due date of tbe monthly installments referred to in paragraphs I and 2 hereof or <.:hange the amount of suchinstallmenlS. If under paragraph 18 hereof the Property is a<.:quired by Lender, all righI, title and interest of Borrower in and 10 any insurance policies and in and to the proceeds thereot resulting from damage to the Property prior to the sale or acquisition shall pass to Lendor to the extent of tbe ~UnlS secured by this Mortgage immediately prior to ~uch sale or acquisition. 6. l'nilenadon aad Maint~ of Property; l.easeholds; Condominiums; Planned Unit Developments. Borrower shaI1 ~ lhe Property in good repair and shall not commit waste or permit impairment or deterioration of the Property lUl!l slIaUcomply with Ihe provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is 011 a unit in a ~doUlinium or a planned unit development, Borrower shall perform all of Borrower's obligation~ under the declaration Ql' coveQanu creating or governing the condominium or planned IInit development, the by-laws and regulations of the condominium or plallBCd unit development, and constituent dO<.:UffienlS. If a condominium or planned unit Jevel\'pmeOl ri~ is eJ\tlI:uted by Borrower and recorded together With this Mortgage, the covenants and agreements of. such rider s!Iall beillCOn'!'rated inW and shall amend and supplement tbe covenants and agreements 01 thiS Mortg~e as If the rider _[II a part hereof, 7. p~ of .~ Seewit:t'~ If Borrower fails to perform the covenants anJ agreements contained in this ~.. qt. it. l\I!.lI 8Iltion or. ptOl."eeding i. commenced whkh materially alfe<.:1s Lender's interest in the Property, ~t.blnJ1!ltlimited 10. eminenl dotnain, inSQlvency, code enforcement. or arrangements or proceedings involving a ~Qr~tIllt. ~ Lender~. 1."lIder', option. upon notice to Borrower, may make such appearances, disburse such ..... lllIll. 180 .~. 8Iltior) as is necessary 10 PTOtc:<:1 Lender's Illterest, including, but not limited [0, disbursement "f l'W'~!llllOa~'s '- and cnU)' upon the Properly to make repairs. If Lender required m(}[tgage insurance a. a ~ O'f.~ the .Ioan _ured by this. Murtgage, Borrower shall pay the premiumsrequ>red to maiut"ln SllCh ~. jli eIIocl ontl1 !IUI:b lime as the requlr@lCnt for such in$Urance terminates m accordance with Bort\lwer's and