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I r UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the- Note, and the principal of and- -interest on any Futlire Advances secured by this Mortgage. 2. Funds for TllJ(os and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day. monthly installments of principal and interest are payable 'under the Note. until the- Note is paid; in' full, a sum (herein "Funds") e.qual to one~tweIfth of the yearly taxes and assessments which- may attain- priority over this Mortgage, and groundrcnts on the 'Property. if any, plus one-twelfth of yearly premium installments for-h~zard~insur~nce,~ plus-one4welfth of yearly,premium-installments for mortgage insurance. if any. all as reasonably estimated initial1y and-'fro.m" 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 accounts 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- aecon"_t, 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 he paid to- Borrower. and unless such agreement is made Of' applicable law requires such interest to be paid. Lender shall not be required to pay Borrower any inferest or earnings. on the Funds. Lender shaH give to Borrower. without charge. an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which eaeh debit to the Funds was made. The Funds arc pledged as additional security for the sums secured 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 e.xceed the amount required to pay said 'taxes. assessments. insurance premiums and ground rcnts 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 rent.,; 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 paragraph 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 Propeny 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. Application of Payments. Unless applicable hlW provides i)thcrw'ise. all payments received by Lender under the Note and paragraphs 1 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. Charges; Uens. Borrower shall pay all taxes. asscs~lllcnts ;,md other charges. fines and impositions attributable to the Property which may attain a priority over this Mortgage. and leasehold payments or ground rents. if any, in the manner provided under paragraph 2 hereof or. if not paid in such manner, hy Borrower making payment, when due. Jirectly 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, HorrO\'I.-'cr shall rromptly furni,h to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien v.,hich has priority over this Mortgage; provided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in wriling to the payment of the obligation secured by such lien in a manner acceptable 10 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 Insurance. Borrowt:r shall keep the improvemenb now c.\isting or hereafter erecled on the Property insured against loss by fire, hazards included within the term "extended ct)v~ragc". and sllch 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 (he amount of such coverage exceed that amount of cove-rage reqUIred to pay the 'ium~ sectm::d by thiS lv1ortgagc. The insurance carrier providing the insuraul:c shall be (.'husen by Borrower subject to approval by Lender; provided. that such approval shall not be unreasonably withheld. AIi premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or. if not paid in slIch manner, by Borrower making payment, when due. directly to the insurance carrier. All insurance policies and renewals thereof shall be in form uC~l,.'plabk to LenJ~r and shall include a standard mortgage clause in favor of and in form acceptable [0 Lender. Lender sh~d[ have the right to hold the policies and renewals thereof. and Borrower shall promplly furnish to Lende.r all renewal notices and all receipts of paid premiums. In the event of loss., Borrower shall give prompt notice to the insurance carrier and Lender. Lenda may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower othcf\ovlsC agree in \Hiting, ins.uf<mcc proceeds shall be applied to restoration or repair of the Property damaged, provided such restoratIOn or repair is cl:onomically feasible and the security of this Mortgage i~ not thereby impaired. It' such rel)tor~tion or repair is m1t cc:;:onomic<llly kasible or if the sCl.'urity of this Mortgage would be impaired. the insurance proceeds shall be applied to the sums sccllreJ by Ihis Mortgage. with the c.\cess, if any. paid to Borrower. If the Property is abandoned by Borrower. or If Borrower faib 10 respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle i.l claim for insurance benefits, Lender is aulborized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the .sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in \\'[iting. any such application of proceeds to princip,ll shall not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or ..:hange the amount of such installments. If under paragraph 18 hereof [he Property is acquired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the proceeds thercoi resulting frl)Ol damage to the Prop<:rty prior to the sale or acquisition shall pass to Lender to the c:\.tcnt of the sums .secured by thil> rvtortg;'lgc immediately prior 10 sllch s;lle or acquisition. 6. Presenation and Maintenance of )'ropcrty; Leaseholdsj Condominiums; Planned Unit De'"cJopmcnts. Borrower shall keep the Properly in good repair and shall not commit waste or permit impairment or deterioration of the Prop~rty and shall_comply with the provisions o[ any lease if thiS Mortgage I') l1n a leasehold. If this Mongagc is \Jn J unit in a condominium or a planned unit development. Borrower shall perform all of Borrower"s obligations under the declaration or covenants creating or governing the condominium (lr planned unit development, the by~laws and regulations ()f the cond.omini~ or planned unit development, and L:Onstiluent documcnl~. It' a I:ondl..lminium Of planned Ilnit d~vdl)pmcnt rider is exe~uled by Borrower and recorded together wilh this- Mortgage, the: covenants and agreements l1f such rit!cr s.h,a1I_ be_incorporated into and shall amend and supplement the covenants and agreements of thIS Mnrlga~e .IS if the rider were a 'part hereof. 7. Prot,~ction _of Lender's Security. If Borrower f ail.s 10 pcrfnrm the covenants and agn:crl1l.::11If> \,.'lllltained in this Mortgage, or if a.ny action or pn.lCeeding IS commenced which materially affects Lender\ inlcrcst in the Property, includinSt but not liniited to. eminent domain. insolvency, (ode cnfon.:cmcnl, or arrangements ~)r pro;.:ccdings invol\"Jog a bankrupt or decedent. then Lender at Lender's option. upon notice 10 Bo;rowcr, may Illake sut:h appcar;iH~:CS, di~hurSl.' ~lKh suinS and take such action a~ is_ necessary to protect Lcndl.'f'S int~rcs1. including. but not limited to. dis.bur):emcnt Ilf reasonable -atiorn-ey'io fees and entry upon the ProperlY 10 make repair,>. If Lender n:qiJir~tl nll)rtgJg~ iilSllftHl....l. il\ ~ condition of making the; loan secured b)' this Morigagl,,\ Borrowa .shall pay Ihl;: premillm~ rCi.ltllfCd t(l n1.i.in!ain \OUt'h insurance in effect until ~uch time at> the requirement for such in$waoc-c l~.tminalcs lU ;-i\':l'O!"dant:.~ wi/hl p~~r~w('{t';'U1J 83- 005408