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<br />U#tt:caAr Cove#+trrs. Borrower and Lender covenant and agree as follows:
<br />;. Payment of PrlECdpal aml Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Nate, prepayment and late charges as provided in the Nate, and the principal of and interest
<br />an any Fuwre Advances soured by this Mortgage.
<br />2. ltun~ for T and Ir~nrxtrce. Subjeot to applicable law or to a written waiver by Lender, Burrower shall pay
<br />to Leader on the day rttanthly installments of principal and interest are payable under the Note, unli} the Note is paid in fui}>
<br />a sum {herein "1-lords"j aguai to Qae-twelfth of [he yearly taxes and assessments which may attain prior}ry over this
<br />"`^~rte~a-; and $.o~ ~ynts an =.'~_^. Prrh~. if any, p}us a~tevelfth of yearly P*mmitn~t± inst;sL*[ten*_s for hazard io<sut>
<br />pins one-twelfth of yean`g premium there}lmenxs for mortgage insurance, if any, all as r~sonably 2siimattd initially sad frtsm
<br />time to time by Leader an the basis of assessments and bins and reasonable estimates thereof.
<br />'Ibe Funds shad ere held in an insxitutiaa the da,.}~sits or accounts o€-which are irtsured or guaranteed by a Federal or
<br />state agency {including Lender if bender is such an institnronj. Lender site}} aPP1Y the Funds to pay said texts. a~tasments,
<br />iasura premiums and ground rents. Lender may hat charge far sa ho}ding and applying the Funds, analyzing said account,
<br />ar verifying and compiling said assessments and bills, unless .Lender pays Borrower interest art the Funds and applicable law
<br />prratits Leader to make such a charge. Borrower and Lender may agree in welting. at the time of exectttinn of this
<br />Mortgage that interest on the Funds shelf be paid to Borrower, -and unless such ageemeat ss [Wade or appli.mbte law
<br />requites such interest to be paid, i.ender sha11 hat be required to gaq Borrower any interest or earnings an the Ftmds. Leader
<br />, shall-give to Borrower; without charge, an annual accounting of the Funds showing credits sad debits to the Funds and the
<br />purpose far which each debit to the Funds was made. 'Llte Funds are pledged as additional security for the swells secured
<br />by tk;g Mo:r-mace
<br />If the amau.7t of the Parole heed by Lender, together with rite future monthly installments of Funds payable prior to
<br />the dt~ dales of taxes, assesstnettis, insurance premiums and ground rents, shaIl exceed the amount required to pay said taxes,
<br />assessments, insurance gmmiums sad ground rents as they fa}2 due, such excess shat} be, at Borrower's option, either
<br />pr~iptly repaid to Barrawer or credited to Borrower on monthly instatlnrents of Funds. If the amount of the Funds
<br />held by Lender shall eat be su~taeat to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Leader nay amount necessary to make up the deficiency within 3Q days from the date notice is mailed
<br />by Lender to Borrower regtrostiag' payment thereof.
<br />Upon payment in ful! of all sums secured by this Mortgage, Lender si-iall promptly refuatl to Borrower any Funds .
<br />held by Lender. If under paragraph i8 hereof the Property is said or the Property is otherwise acquired by Lander. Lender
<br />apply, no ~r 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 thi: Mortgage.
<br />3. Applteatfoa of Ptpmoeb. Unless applicable taw provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 sad 2 hereof shall be applied by Leader first in pa}mtent of amounts payable to Lender by Banower
<br />under paragraph 2 hereof, slnn 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. C§argea; Imo. Borrower shall pay all rases, assessments and othee charges, fines and impositions attributable i6
<br />the Property which may attain a priority over this Mortgage, and ieasehald payments or grain rents, if-any, in the manner
<br />provided under paragraph 2 hereof or, if hoe paid in such manner, by Borrower making payment, when dire, dirty to the
<br />tsayoe thereof. Borrower she}} promptly furnish to Leader al[ notices of amounts due weeder this Paragraph, and is the avont
<br />Borrower sha@ make Paymrnt dirocely, Borrower shat! promp:3y furnish to Lender receipts evincing such payments.
<br />Harrower ahali Pr~Ptty dtxharge any lien which has priority over this Mortgage; provided, that aorrower sfiail hat ~
<br />enquired [o discharge any such lien so long as Harrower shall agree is writing to the payment of the obligation secured by
<br />such lien in a manner acceotable to Loader, or shall in good faith contest such Fier. by, or defend enforcement of such. liQit itt, -
<br />kgai proecedings which apernte to Prevenx the enforcement of the }ten or forfeiture of the Property or any part theiea€:
<br />S. ]iituard Race. Borrow; r shall keep the improvements now eai-sting or hereafter created oa the Property insured.
<br />against etas by Bee, hazards included within the term "extended coverage', and such ether hazards as Lender may require-
<br />- and in stxh arreaunts and for such periods as Lender may require; provided, that L_ ender shall not requite that the aatount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />'I'!~ imurance carrier providing the insurance shall be chosen by Harrower subject to approval by Lender, providotl,
<br />liter such approval shall not be unreasonably withheld. All premiums on insurance policies sha}I be paid in tttc meaner
<br />provided under Paragraph 2 hereof or, if hat paid in such manner, by Horrower making payment, when due, direct3y to the
<br />insuranco .:atria.
<br />AIl insurance policies and renewals thereof shall be ir, form acceptable to Lender and sdtall include a standard mortgage
<br />cla[ne in favor u aid in form ats~ptable to Lender. Lender shall have the right to bald the policies and reaewaLs thereof,
<br />and Harrower shat} gromptly furnish to Lender alt renewal notices and all receipts of paid premiums. In the event of Lass,
<br />Borrawor shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if hat made prornpdy
<br />by Psarratver.
<br />Unless Lender and Horrawer otherwise agree in welling, insurance Proceeds shall be applied to restoration or repair bf
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />hat thereby impaired. Tf such restoration or repair is not economically feasible or if the security of this Mortgage would
<br />fie impel*er? the insurance proceeds shall fie applied to the sums secured by this h#ortgage, with the excess, if any, paid
<br />to Borrower. if iht Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 3d days from the
<br />date attfice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized fo caltecM need apply the insurance groeeeds at Lender's option either w restoration or repair' of the Property
<br />or to the sums secured by this Mortgage.
<br />Utiless Lender and Borrower otherwise agree to writing, any such appliratian of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs i and Z hereof or change the amount of
<br />swell installtnenL. If wader paragraph i$ hereof the Praa~-~u-ray is acquired by Leader, all right, title and interestof Hotrawer
<br />in and [a any insurance policies sad in and to the proceeds thereof resu}ting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender zo the extent of the sums secured by this Mortgage immediately prior to loch sale or
<br />acgnisitim¢.
<br />+S. rind Aialiitesasce of Pr~aperty; Ixasel C Planned L'mk Ikvelopmenfs. Borrower
<br />shall 1texP the Property in greed repair and shalt not commit waste or permit impairment oc dexrioration of the Property
<br />snit shall comply with rho provi~ons of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br />condominium or a planned waft develaptaent, Barrowet shall perform all of Borrower's obligations under fne declaration
<br />at covoitauta croatiag ar governing the condominium or planned unit dovetopmen4 ~ by-laws and regulations ©f the
<br />eonda$»isitrm or plaa[[ed unit dcvelaprnen[, and constituent documents. If a condominium or planned unit dovetopmetrt,
<br />i'idet' is execuLxt by Btnarrwor and rewrtkd €ooother with this Mortgage, the covenants sad agreements of such rider
<br />shall:fre meorpara~d-iota and shalt amend and supplement rho covenants and agreements of this Mortgage as if the rider
<br />wetas
<br />7, I ~ I,a may. If Harrower fails itt perform the covenants. and agreements contained- is this
<br />ictgage, or-ifi any action or proceeding is eoiattietNCed-which rnaterialiy affects-Lender's interest in the Property,
<br />iticitsdsagr, bat lent Batitad tit, etttittenf domain, insolvency, code enforcement, ar arrangements or proceedings involving a
<br />baaktupt ar_detat; rhea Loader at Leader's opt}an, upots;gotice tq Harrower, may make such appeararsces, disburse such
<br />stems and tako such action as is: necessary to prat~t.'Lendor's'iriterest, inetuding, Isut not limited to, disbut'sement of
<br />reasonable attomoy'tt foes and entry upon the-Property to make repairs. If Lender required mortgage insurance as a
<br />eaadition a€ ma}ciag.the loan secured by this 3vitictgage, Horrower slsall pay the premiums required to maintain such
<br />- insurance In effect. until such time as the regairemont -for Sach iasuranceterminates in accordance with Borrower's and
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