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<br />Urttroara Covertertts. Borrower and Lender covenant and agree as follows:
<br />i. Pstyuteat of Paintipal Ettterest. Borrower shah promptly pay when due the principal of and interest on the
<br />intlebtedaess evidenced by the Nofe, prepayment and tare charges as provided in the Na[e, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2> F t~ Tsttrts steel itee. Subject ro applicable taw or to a written waiver by Lender, Borrower shad gay
<br />ro Leader as the day ntonthty iasta4atents of principal and interesYare payable under the Note, until the Nate is paid in foil,
<br />a slam {herein "Funds"I equal to one-twelfth of the yearly'taxes and `assessments which may attain priority ovei this
<br />Itiortgage, and ground rents on the PmPert9, ii any,- Plus one-iwelfin of yearly gremiuin irmaa!uTients-far lea~ard i,~aurance,
<br />plus one-twtiftlt of yearly nrttaiudt ia~ailt>wents far mortgage insurance, if any, ail as trasonab!y estimated initisiiy and- from
<br />time to t:estr by I ender oa the basis- of ass~smcnts and bills and rsasanab!e estimates thereof.
<br />Tho Funds sltail be held is an institution the deposits or accounts of which are insured or guarantad by a Federal or
<br />start agency (ia'.tt> *!ng Lender if tender is such an institution): Leflder shall apply the Funds to pay said tales, asstssmdits,
<br />itxsttt.arattce F~-'-nom and ground teases. Lt~er may not charge for ro holding and applying the Funds, attalyrinng-said account,
<br />or verifying and comgiliag said assessments and bills, unless Lender pays Borrower interest oa fhe Funds sad applicable-law
<br />permits Lender to make such a charge. Borrower and Lender may a_ttree in writing at the lime of .execution of this
<br />Mortgage chat interest an the Funds shalt be paid to Borrower, and unless such agreement is made or applicable law
<br />requires-such interest to be paid, Lender shad trot be required to pay Borrower any interest or earnings on the Futeds. Lander
<br />shah give to Borrower, without charge, an annual accounting of the Funds showing-credits and debits to the Fends sad the
<br />,. gatrpose for which each debit to the Funds was made. The Funds are pledged as additsonal security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Leader, together with the future monthly installments of Funds payable prier- to
<br />the date dates of taxes, assesstrteats, iresueance premiums and ground rents, shall exceed the amount required to gay said taxes,
<br />assessaatats, insurance premiums and grouted rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to 8ormwer on monthly installments of Funds. I€ the amount of the Funds
<br />held by Leader shall not be setfiitient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shalt pay to Lender any amount necessary to make up the deticiency within 30 days fmm the date notice is mailed
<br />by tender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Harrower say Funds
<br />held by Lender. If wader paragraph 18 hereof the Pragerty.is acid or the Property is otherwise acquired by Lender, Lender
<br />shall apply, reo later titan 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 this Mortgage.
<br />3, AppHctition aid Pstyrtreata Unless applicable taw provides otherwise, ati payments received 6y Lenaer under the
<br />Nate sad paragraphs I seed 2 hereof sha[I oe applied by Lender fast in gaymeat of amounts payable to Lender by Borrower
<br />utrder paragraph 2 hereof, urea to interest payable on the Nate, then to the principal of the Note, and then to imer~t and
<br />principal on any Future Advances.
<br />4. Charges; Liras. Borrower shall pay a21 taxes, assessments sad other charges. nres and impnsitiotss attribrtahie to
<br />the Property which may attain s priority over this Mortgage, and leasehold payments ar ground tents, if any, in the matttter
<br />provided sutder paragraph 2 hereof or, if not paid in such manner, by Barrawer making payment, whey due, directly M the
<br />pence thereof. Borrower shalt promptly furnish to Lender all notices of amounts due under this paragraph, aced in the avant
<br />grower shall make payment directly, Borrower shall promptly furnish to Leader rxeipts evidenoiag such pgs~ments.
<br />Borrower shad promptly discharge any lien which has griarity over this Martgagt; provided, that Borrower shalt not be
<br />required to discharge any such Ilan sa loteg as Borroes~er shat! agree in writing to the gagmen*. of the obligation secured by
<br />such flea in a moaner acceptable to Leader, of snail in good faith contesa such lien by, ar defend enforcement of siren lire in,
<br />legal grceecdings which operate to prevent the enforcement of the 3ien or forfeiture of the Property ar any part thereof.
<br />S. S€s~rd Issurarn^e. Borrower shat! keep the improvements now exatiteg ar hereafter erected on fhe Property insured
<br />against lass by fire, hazards incItsded within the term "extended coverage", and such other hazards as Lender may require
<br />atxl is such amounts and for suth periods as Lendu may require, provided, that Lender shalt not require Utat the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The insurance carrier providing the i~uranre shat bt chaste by Borrasver subject to approval by Lender; provided,
<br />that such approval shall not be tmreasanaby withheld. Ali ptemittires on ins-urance,potirats shalt be gam in t}~ maaaar
<br />provided utter paragraph 2 hereof ar, if not paid iii such ntaaittr, by Harrower tnakiiig paytitetet, when due, directly to the
<br />iasuraricc cattier.
<br />All insurance potides and rtatwals thereof shall be in term acceptable to Lender and shat! include a standard martgagt
<br />clause in favor of and in form acceptable to Leader. Lt.xfer she!! have the tight to hold the policies and renewals thereof,
<br />and Borrower shalt grotaptiy furnish to Lender ail renewal notices and all receipts of paid premiums. In the event of toss,
<br />Borrower shah give prompt notice to the ittstu ante rattier and Lender. Lender may make proof of loss if net made prompily
<br />by Borrower.
<br />rra~ Ltst~~ a.~*~ Basrew~r at~Fws~ agrY€ i:, writing, ias,~r Qrc~eeds shah ize applied to restoration or repair of
<br />the Properly dam?oved, Provided such restoration or repair is ecvttamically feasible seed the security of [Iris Mortgage is
<br />net thereby impaired. If catch restoration or repair is not tconomiral}y feasible or if the security of tins Mortgage would
<br />be itpaired, the insurance Proceeds shall be applied io the soars secured by this Martgagt, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, ar if Borrower fails to respond So L~endtr within 30 days from the
<br />date tsatice is mailed by Lender to Borrower that the insurance carrier aHers to settle a claim far insurance betee63s, Lttsder
<br />is authariz~! to collect and apply the insurance proceeds at Lender's option either m restoration or repair of tine Pra~tty
<br />or to the aunts secured by this Mortgage.
<br />Unless Leader sad Borrower otherwise agree in writing, any such application of proceeds to principal snail sot extr~l
<br />or gnstgont the duo date of the monthly installments referred to in paragraphs 1 and 2 hereof or change tits amount of
<br />such installments. B under patagrapa l8 hereof the Property is acquired by Leader, ail right, tills and interest of Harrower
<br />itt sad to say iasitrance policies ate in sad to the prare~s thereof resulting froite damage to the Property prior to the sale
<br />ar acqu!sitisrn shall pass to Leader to -the extent of the stuns secured by this Mortgage immediately prior to such sate or
<br />acquisition.
<br />al, Preaervatiaa M~mtenauce of Pre~rersy; ixtt Loadom!alura~ Pleased iltsit-xiavdepmeriffi. Borrower
<br />shale keep-the Property in gixed repair and chart not commit waste or permit itapairrnent ar deterioration of the Property
<br />seed shall eamgiy with tae ptovisians of any lease if this Mortgage is on a leasehold.: If this Mortgage is oa a utut iv a
<br />corithurtinium or a plaaa€d- ante dtvekegitteat, Borrower snail perform alt of Borrower's obligations under the declaration
<br />or ca'ieeisrets creating or govsiming Bit eondamirrium or planned unit develagtrtent, the by-laws and regulations -of Lire
<br />comrlominiu,°ss or Plantacd elate `devtlopmeat, sad constituent docuntenta If a condaatinittm or piant~d unit deveiogment
<br />Ptder i4 cx~ua:d icy 3;!a~;3wer -. ~-i'+rdtd i~r with tltiS M6i tg3gE, tlrC- CavCitaat& and BgrGEmC~tts 4f Such- rSdtr
<br />sliaii its iacarQoratcd intii sad shah`amend aed-supplement-the caveaants sad agreements of this Mortgage as if the rider
<br />xYtr~ a pant hereof.
<br />'f. ^r~c::,~ a: I a3'a~~a $t.^iat&°o If Biirra-as;r £aiis to perform tae coveAants end- rsents cantaistcd in this-
<br />- lsiaitgagt, ar if any settee or procet:diisg is Born which materially ;affects Lender's iatetrst in the Property,
<br />• include-ig, but net Limited to, eretitten#-domaiay iasolvency,.:rodr eitfrircraaerat, or arrangomtnts or proceedings inYOlving a
<br />hanicnrpt or dacedettt; then Letrdar at:Lettder's option; upon notice to ~rrciwer;-map make such-agpt;arances, disbeuse such
<br />stars and take. coati saueu as t$ scary ui -Prsti~t-Leaber~s n_[Qres#, nctitdutg, bus not- limiter to; disbursement of
<br />retnabhe attotaey's fps -sad -:entry upon t~ Property- to make tepees: Ff Lender regitirtd mortgage insurance as a
<br />condition of making fire loan secured by this Mortgage;. Borrower snail pay rho premiums .required to maintain such
<br />iBSUrartce in e$ect until-stint tip as the rExltiirearCUt:for stiolzsasutarice fertninates is accordance with Borrower's and
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