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<br />IINIPORM CoverJntvrs. Borrower and Lender envenom and agree as follows:
<br />t. Payment of Pdaclpa! 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 Nvte. and the principal of and (merest
<br />on any Future Advances secured by this Mortgage.
<br />2, fhrrtds for Tales earl iastitanee. 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 Note, until the Note is paid in full.
<br />a elan (herein "Funds") equal to one-twelfth e( the yearly taxes and assessments which may attain priority ever this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus oao-twelfth of yeazly 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 of
<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 no[ 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 [.ender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be reyuired to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showin_q credits and debits to the Funds and the
<br />purport for which each debit to the Funds w•as made. The Funds are pledged as additional security for the sums secured
<br />6y this Mortgage.
<br />If the amount of the Funds held by Lender, together with the.future monthly installments of Funds payable prior fo
<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 Bm~rower on monthly installmentsof Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower 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 [his Mortgage. Lender shall promptly refund tv Borrower any Funds
<br />held by Lender. If under paragraph IS hereof the Propety rs sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to [he sale of the Property or its acyuisition 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 othenv'ise. all payments received by Lender under the
<br />Note and paragraphs t and 2 hereof shaii he applied by Lcndcr tits[ in payment at amounts payable to Lender by Borrower
<br />under pazagraph 2 hereof, then to interest payable or. the Nate. [hen to the principal of [he Nvte, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Lieas. Borrower shall pay elf [axes, assessments and other charges. tines and impositions attributable to
<br />the Propetty which may attain a priority over this Stongage, and leasehold payments or ground rents, if any. in the manner
<br />provided under paragraph 2 hereof or. if not patd m such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all nouces of amounts due under this paragraph. and in the event
<br />Borrower shall make payment directly, Burrower shall promptly turntsh [o Lcndcr receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has vnoutp met this Morgage; provided, that Borrower shall no[ be
<br />required to discharge any such lien so Inng as Borrower shall agree m ++nung to the payment of the obligation secured by
<br />-such lien in a manner acceptable m Lender, yr shall in gvwd faith rnntnt such lien lay. or defend enforcement vi such lien in,
<br />legal proceedings which operate to prevent the enforcement of the Lcn or forfeuuro of the Property ar any pan thereof.
<br />5. Hazard Insurance. Borrower shall keep the improvements now cxisung or hereafter erected on the Property insured
<br />against loss by fire, hazards included w•ithm the term 'extended coverage". and such other hazards as Lender may reyuire
<br />and m such amounts and for such periods an Lender may reymre; pram ided, that Lender shalt not rcyuim that the amount of
<br />such coverage exceed that amount of coverage reyuired to pay the sums secured h}' this Mortgage.
<br />The rnsurance carrier providing the insurance shall be chosen by Harrower ,abject to approval 6y Lender. provided,
<br />that such 2pproval shall not he unreasonably withheld. All premiums en insurm[ce policies shall he paid in the manner
<br />provided under paragraph _' hereot or, if not paid in such manner, by Borrower making payment. when due, directly to the
<br />insurance carrier.
<br />All insurance partner and renewals thereat shall be in form acceptable m Lender rind ;hall include a standard mortgage
<br />clause in favor of and in farm acceptable to Lender. Lender ;hall haca the right to hold the policies and renewals thereof.
<br />earl Borrower shall promptly furnish Lo Lcndcr all renewal nouces and all receipts ai pant premiums. In the cvem of loss.
<br />Borrower shaii grve prompt notice to the meat,+nce carnet and Lznc-let. Lender may make proof of fuss if ntx made promptl}
<br />6y Borrower.
<br />Unless Lender and Horrower otherwtsc agree in wrinng. in_wrance proceeds shall b2 apl?lied to restoration or repair o[
<br />the Property damaged, provided such restoration or repairs cooomtcalt}• le:uible and dte security of this \lortgage +,
<br />not thereby impaired. ]f such reswrauon or report is not ccanonucaliv ttasibte or if the security of this V-lortgage would
<br />be impaired, the insurance proceeds shalt be applied to the sums secured b} this Mortgage, „'rth the excess, if any, patd
<br />to Borrower. It the Property is abandoned h} Borrower. „r a Bvrr„wet tads to recnond to lender within 30 days from the
<br />date notice is marled by Lender to Harrower that the irsurance earner otters to scale a claim fur insurance benefiu, 1_ender
<br />is nu[horized to collect and apply the insurance proceeds ;.t Lender's option either to restoration nr repair of the Properly
<br />or to the sums secured by this Mortgage.
<br />Unless Linder and Borrower otherwise agree i^ wrong, any sacit ,replication nt proceeds to principal shall na extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I :rod 3 hereof or change the amount of
<br />such installments. 1[ under paragraph iii hereof the Property is a;:ywred by t,endcr, al; right, title and interest of Borrower
<br />in and to any insurance policies and in rind ;o the proceeds therent resulting from damage tv the Property prior to the sate
<br />or acquisition shall pass to Lender to the extern of the sums secured by [his Siurtgage immediatcl} prior ui such sale or
<br />acquisition.
<br />b. Preservation and Maintenance of Properly; Leaseholds; Cundorniniums; Planned Unit 1?eyelapmtnts. 13cirroucr
<br />shall keep the Property in good repair and shall not cemnrit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of an}= lease if this Mortgage is on ~ lcasehoid, rf this ;ti4ottgage is on a unit m
<br />condominium or a planned unit development, Burrower shaii perform sit ui Borrowers ,vM,gauans [;rider the decl.rrauun
<br />or covenants creating or governing [he candum,nmm er planned unit devek~pmen[, the t;}'-loxes and reguiatiuns of the
<br />condominltrm or planned unit development, :,rid constituem docmmms. 11 a condominium nr planned snit dc+-clopntent
<br />rider is executed by Borrower and recorded together wnh this Mortgage, the covenants and agrc.atenp at Bach rider
<br />shall be incorporated into and shall amend and supplement the coveuants and agreements of this Mortgage as R the rider
<br />were a part hereof.
<br />T. -Protection of Letder's Security. If Horrower faits to perform the covenants cut:i ugreenrcats c„ntained in rhi~
<br />Mortgage, or if are action or proceeding is commenced which materially aii'ects Lender's ~!vterest m the Propen+•,
<br />including, but not limited tv, eminent domaht, insolvency, cod: enlot:emeni, yr arrangamtrsts or I>, !~;.gs nn oivurg a
<br />6ankntpt or decedent, then l.endtr at Ltrdcr option. upon nonce ro Barrcwer. dray ov[ake such a; lr viler+ursr such
<br />sums aasd take such action as is uecessar•. [o protect Lenders <.ntera~st. indu,3ivg, but nut Coated .~ _ ;;,bu~~crncut cd
<br />rtattunable attomty's tees and entry upon the Property tv :Hake repairs. If Lender require~;l mortgage insurance as a
<br />condition of making the loan stcurnd-by ibis Mortgage. Horrower shall pa}' the prcmrums reyiin~4-r; tv nraimain >uch
<br />insurance in elTeci until snob time ax the roquiremtnr for such insurance tcrrmuates :u .;,.~>rdau.c u;ih &+rrau•cr's and
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