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<br />UNiFOAM CovetvaraTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Priucipal and Inftrest. Borrower shalt promptly pay when due the principal of and interest on the
<br />indebteaness evidenced 6y the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />an any Future Advances secured by this Mortgage.
<br />?, ~~~ far Tats aTM! r~~re. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to bender on the day monthly installments of principal and interest are payable under the Mote, until the Note is paid in ful"!,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any. plus one-twelfth of yeaziy premium installments for hazard insurance,
<br />plus orte•twe;fth of yearly premium installments for mortgage insurance, if any, al! 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 steal! be held in an institution the deposits or accounts of which are insured or guarameed by a Federal or
<br />state agency (including Lender if Lender is such an institution). 1_ender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may net charge far so holding and applying the Funds, analyzing said account,
<br />or verifying and wmpiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permiu Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest an the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall hoe be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without :barge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the dtre 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 io iorrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />Geld 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 3t~ days from the date notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Upon payment in full of all earns secured by this Mortgage. Lender shat] promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph I8 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no Inter than immediately prior to the sale of the Property ar 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. Appiicatioa of Payments. Unless applicable !aw provides otherwise, alt payments received by Lender under the
<br />i:`ote and garagrapbs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal oa any Future Advances.
<br />4. Chsges; Liens. Borrower steal! pt.y alt taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and lea.eha?d payments er Fround rent, if any, in the manner
<br />provided under pazagraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, ditecUy to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of arnounts due under this pazagragh, and is the event
<br />Borrower shalt make payment directly, Borrower shall promptly famish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />st~h lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which opetale to prevent the enforcement of the lien or forfeiture of the Property ar any part thereof.
<br />5. Hazard Iasaraace. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against Iris by ftre, hazards included within the Perm "extended coverage". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that 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 insurance she!! be chosen 6y Borrower subject to approval by Lender, provided,
<br />that such approval shalt not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under pazagraph 2 hereof or, if mot paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in forth aceptable to Lender and shall 'rnclude a standard mortgage
<br />clause in favor of and in form acceptable to Leader. Lender shall have the right to hold the policies and renewals thereof,
<br />sad Borrower shalt promptly furnish to Lender alt renews! notices and alt receipts of paid premiums. In the event of lass,
<br />Botzower shall give prompt notice to the insurance carrier and Lender. Lender may rook: nrr„S of loss if not made promptly
<br />by Borrower.
<br />Unless Lender sad Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repair is not economical?y feasible or if the security of this Mortgage would
<br />be impaired, the insurance procc..ds shalt be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower faits to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the soars secured by this Mortgage.
<br />Unless Lerider and Borrower oUterwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such iastallmeaLS. If under paragraph 1$ hercef the Property is acquired by Lender, ail right, title and interest of Borrower
<br />is and to nay insurance policies and in and to the proceeds thereof resulting from damage to t~ Property prior to the safe
<br />or acquisition shall pass to Leader io the extent of the sums secured by this Mortgage immediately prior to such sale or
<br />acquisition.
<br />S. Peexervalion sad Maintenance of Property; Leaseholds; Condominiums; Frescoed Unit Developments. Borrower
<br />shag keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />atNl shall mmpty with the previsions of nay lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br />condominium or a p[arured unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />az covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />Condominium or planned writ devebptmat, and constituent documents. If a condominium or planned unit development
<br />rider. is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
<br />shag be ittr:otpotated iota and shalt amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />Wert a part heroof.
<br />7. Pet of Lender's Sasrity. If Borrower fails to perform the covenants and agreements contained in this
<br />Morigagt, ar if nay eerier ar praxeding is commenced which materially affects Lender's interest in the Property,
<br />inclttdiog, but not limited to, eminent d~nrain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankrupt ar decedent, then Lender at I.eadoi's option,-upon notice to Borrower, may make such appearances, disburse such
<br />sums a~ take such action as is accessary to protect Lenders interese, including, but not limited to, disburvement of
<br />reasonable attorney's fees and entry upon the Property to make repairs. if Lender required mortgage insurance as a
<br />condition of malting rho lose srxtutd by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />iasttt•ance in effect until such time as the requirement for such insurance terminates is accordance with Borrowers and
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