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<br />Ut~rteasri ('aVi;P1AN1'S. Borrower and Lender covenant and agree as fo}lows:
<br />2. Pay, met7t of Prmciliai ate infeeesf. Borrawee shall promptly pay whWn due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and face charges as provided in the Note, and the principal of and interesE
<br />on any Future Advances secured by this Mortgage.
<br />2. F'aads for Taa~ sad )ittsarante. Subject to applicai:ie taw or to a written waiver by Lender, Harrower shall gay
<br />to Iznder an the day motitltty installments of principal aad interest are payable under the Note, until the Note is paid in full,
<br />a ,cur. i ;a,~ n "Fu; ;•'} Fq•„a! to ~ n ::zlftl; of rt,. }.early taxes and assessments which may attain priority over this
<br />Mortgage, and grauad rents on tits Property. if a-ty, plus asr: -twelfth a# Yearly premitun installments for hazard insurance,
<br />plus one-rwetfttx of yearly prettiium iastatiments for mortgage insurance. if arty, sit as reasonably ezt,~ate3 isaFtal$, acd front
<br />8itne to Uene by Lender on fire basis of assessments and bibs and reasonable estimates t3tereoi.
<br />'tae Fins stiaB ~ hold is an institution rite deposits or assounts of which ate insured ar guazanteed by a Federal or
<br />states agency (iustitding Lender i€ Lender is such an institution}. Leader shall apply the Funds to pay said taxes, assessments,
<br />insu=ice pr~m:.,:,,s ar>d gr-.and r: nts. *..e.~'...~r :nay •^."t e?'a~~ far so holding aad aaplying tine Fund, analyzing said aecautlt,
<br />or verifying and c-0mpiting said assessments and bills, unless Loader gays Bttrru-wer interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Linder a.ay agree in writing at the time of execut;on of this
<br />Ma Egage that interest an t~ Funds shalt be paid to Borrower, and unless sash agreement is made or apptitable Saw
<br />requires sash interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the FYtnds. Leader
<br />shall give to Borrower, without charge, an annual ateounting of the Funds showing credits and debits to the Fiords and the
<br />.-gxtrpose #or whirls each debit to Use Funds was made. 'Ills Funds are pledged ss additional security For the sums soured
<br />by this Mortgage. ___ ;
<br />It the amount of the Funds hail by i.ender, together with me future ,r..,,,thty =nsta;lt: cote- of F~•nds payable prior to
<br />the L~3e dates of taxes, assessments, insurance Premiums aad ground rents, shall exceed the amotmt required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shah be, at Borrower's option, either
<br />gromptty repaid to Borrower or credited to Borrower an monthly installments o€ Funds. if the amount of tkre Funds
<br />held by Lender shalt not 6e sufficient to gay tares, assessments, insurance gremiums and ground rents as they fall due,
<br />Borrower shall pay to Lender any amount neczssary zo make up the de8cieaty within 30 days from the date nonce is mailed
<br />by Leader to Borzawer requesting' payment thereof.
<br />Upon payment in full o€ aII sums secured by this Mortgage, Lender shall promptly rotund to Borrower ant Funds
<br />held by Letsder. If under paragraph 18 hereof the Property is sold or tits Progeny is otherwise acquired by Lender. Lender
<br />shall apply, ao later than immediately prior to the sale of the Property or is acquisition by Lender, any Ftmds held by
<br />Lander at rite titan of appasa+-oa as a credit against the sums secured by this Mortgage.
<br />3. Appiltatl3a of Fayttteats. l3nless agplicabie taw provides otherwise, alt payments t. ceived by Lender under the
<br />Nose and paragraphs :and 2 hereof shaft be applied by Lender 5rst in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then is interest payable on the Note, then Io the principal of the Note, and then to imerest and
<br />grincipat on any Future ~dvatsces.
<br />4. Charges; I,Ians, Borrower shall pay all taxes, assessments anti other charges. fines and impositions attribitabte to
<br />the Property which rosy attain a priority over this Mortgage, acrd leasehold payments cr ground rents, if any, in the manner
<br />gmvitkd under paragraph 2 hereof or, if not paid in such manner, by Barrows; making payment. when due, directly to flu
<br />payee thereof. Borrower shall prompt;f furnish to Linder alt notices of amounts due under this paragraph, and its the event
<br />Borrower shall make gaymznt directly, Borrower shall promptly iumislt to Lender receipts evidencing sash payments.
<br />Borrower shall protnpUy discharge any tier which has priority over this Mortgage; provided, that Borrower shalt nor '"
<br />rzquEred to discharge any oat. lien sa long as Borrower shall agree in u;trng to ttte payment of the ahtigation secured b}"
<br />nulls lien in a manner acceptable w Lender, ar sh»}i in good faith contest such lien by, or de€end en€orsement of sash lint ia,
<br />legal grateedings which operate to prevent the enforsszr~ser>t of the lien ar farFeituze o€ the Property or any cart thereof.
<br />5, I?<sasrd ]nse~ance. Borrower shall keep the improvements now existing or hereafter erected oa the Property insured
<br />against loss by ffre, hazards included within the term "extended coveragz', and such other hazards as Lender may require
<br />aad in such amounts and for such periods as Leader may require; provided, that Linder shall sot require that the amount of
<br />such tovzzaa~e e=steed that amount a# coverage required fa-Pay tits sums secured by this Mortgage.
<br />'Cite irss~sratttc tarrizr providing tip insurance shall be chosen by Borrower subject to approval by Leader. provided,
<br />that. sit;,h approval s=.all aa*. i3e t:~e€?~onabty withheld. Alt premiums on insurance policies shall be paid in the mant~r
<br />provided undzt paragrapis 2 hereoF or, if not paid in such manner, by Borrower making paytrtent, when due, directly to the
<br />i ~>;.m„..s terrier.
<br />Ail itisurante paliciess aril renewals thereo# strait be in farm acceptable to Lender aad shall include a standard mortgage
<br />sfatsaz in favor of and in form acceptable to Lender. Lender shalt have the right to hold the policies and renewals thereof,
<br />and Borrower shaft pramgtiy furnish to Lender ail renewal oarless and sit .cs`.zipts of paid gremsams. In t}te event of loss,
<br />Borrower shall give prompt notice to the i~urance carrier and Lender. Lender may make proof of toss if not made promptly
<br />by Harrower.
<br />'.Jitless Lender and Barrawer otherwise agree, in writing, insurance proceeds shalt be applied to restoration or repair of
<br />rite Property damaged, provided such testotstion or repair is econamicalfy feasible and the security of this Mortgage is
<br />nest iherelsy impaired. If st~h restoration ar regain is not eeonomicatty feasible ar if the security of this Mortgage would
<br />~ impaired, the insuranx gracoeds shall be applied to the earns secured 6y this Mortgage. wsih the excess, if any> paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />hate notice is nutiled by Lender to $at~awer that the insurance carzier offers ro settle a claim for insurance beae&ts, Leader
<br />is attthorized to tallest and apply the it~ura, ~e prods »t Lenders option either to restoration or repair of the. ProP~Y
<br />or to the stems secured by this Mortgage.
<br />Unless Lender and Horrosver other.°.s°. serer in writing. any stcch agplicatiaa of proceeds to ga.trcigal shalt not extend-
<br />er postpone the due date of the mantitly installments referred to in paragraphs i and 2 hereo€ or change the aasount of
<br />sorb inst3ltmznts.. If under paragraph f $ hereof the Property is acquired by Lender, alt right, title and interest of Borrower
<br />in and to any insurance policies and in aad to the pretends th~:reof resulting from damage to the Pmpzny prier to the safe
<br />or asquisitloa shalt pass to Lender to the extent of tl:e sutt?s s~:ured b}° this Mortgage immediately prior to such sale or
<br />uisitlan.
<br />~, Psva~a -sad Malateasnce of Proprctty; LeaseGolds; Condomia#aras; Plaaste°d Utah Develapmeats Borrower
<br />shall keep the Prouty in good repair and shag nut Commit waste or permit impairareat or deterioration of the Property
<br />anti shag comely y,,ith the pravisians of arty lease if this Mortgage is an a leasebaid. If this Mortgage is on a unit in a
<br />.^.oitdotst"silit:m ar ~ planned tacit develogntzn4 Borrower shall ~rform all of Borrower's obligations under ttto d~tazatiaa
<br />or covenants treating or governing the eandominium or planssed unit development, the by-laws and regulations of the
<br />toada.~irr~riu.-~~ ~>la;i=aed unit ~v~apnt, aad ;.onst~t~nt documents. If a tondomiaium or ptantted unit development
<br />rider is esestited by Bornawer attd r~orded together with this Mortgage, the covenants aad agreements a€ such rider
<br />sAall be itttatpnratfd into and shad amend and supplemett the covenants and agreements of this Mortgage as if the rider
<br />e a i~r~f,
<br />9. Pretrtctun of #xttde~s 5etar$tg. Yf` Borrower faits to pzi#orm the covenants and-agreements contained in this
<br />Mortgages, or if -any selloff o; pmtditig is Commenced which- materially.. a$otts Lender's interest in the Property,
<br />including, but sot Hmited to, emit~nt doirsain, insdvonty; elute enforce~ttent, or arrangements or proceedings involving a
<br />~titpt or docea~en#> theta I.~ider at Lendei s Upson; ~sgoit merles to Borrower, may make sorb appearances, disburse such
<br />sitat4 ate take srn:h ~ceiaa as is ha'e'~ar}y fo pratett Lem; s interest, including; but .not- limited ta, disbursement of
<br />reasoaalsle aitarney's fees and entry upon the IsropCriyta-snake repairs. If Lender reauired mortgage insurance as a
<br />condition of strakieg -the loan secured by -this .Mortgage, .Borrower strati pay -the premiums required to maintain such
<br />iatsursaCe in eflett tmtit such time as the requirement fQr -such insurance terminates in accordance with Bortawei s and
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