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<br />~s-~. l~ tj ~ i ~~
<br />UNIFORM (:eVENANTa. BQCZOWei and Lender covenant and agree as follows:
<br />1. Payment of Pritrclpal and Ltterest. Borrower shall promptly pay when due the principal of and interest on ;ht
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Fonds for Tones and Insurance. Subject to applicable law or to a written waiver by Lender, Bor-ower 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 stun (herein "Funds") egos! to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on [he Property, if any, plus one-twelfth of yeazly premium installments for hazard insurance,
<br />plus one-twelfth of yearly 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 Geld in an institution the deposits or accounts of which are insured or guaratuted by a Fedral or
<br />star. agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance gremiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />cr 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 Linder may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower; and unless such agreement is made or applicable taw
<br />requires such interest io be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, 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 />IE the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shalt exceed the amoum required to pa}• said taxes.
<br />assessments, insurance premiums and ground rents as they fall dot, such excess shall be, at Borrowers option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of 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 [o Lender any amount necessary to make up the deficiency within 30 days from the ds[e notice is mailed
<br />by Lendtr to Borrower requesting-payment thereof.
<br />Upon payment in full of alt sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than imtttedia[ely prior to the sale o[ the Property or its acquisition by Lender, any Funds head oy
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Appiecatlon of Payments. Unless applicable law provides otherwise. aII payments received by Lender under the
<br />Note and paragraphs 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 [o interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />a. Charges; Liens Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents. if any, in the manner
<br />provided tinder paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payx thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly famish to Lender receipts evidencing such payments.
<br />Hortowec shall promptly discharge any lice which has priority over this Mortgage; provided, that Borrower shall not be
<br />required to discharge any such Peen so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a mantas acceptable to Lender, or shall in good faith contest such ]ten by, or defend enforcement of such Lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. HasDtd do~aott. Borrower shall keep the improvements now existing er hereafter erected an the Progeny insured
<br />against less by fits, hazards included within tbe term "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 shaI! not require that the amount of
<br />such coverage exceed that amount of coverage requited to pay the sums secured by this Mortgage.
<br />The insurance carrier providing [be insurance shall be chosen by Borrower subject to approve{ by Lender; provided,
<br />[bat such approval shag not be untnasonabjy withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such mancer, 6y Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include 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 />nerd Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />[he 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 economically feasible or if the security of this Mortgage would
<br />be impaired, [he insurance proceeds shall rte applied to the stuns secured by this Mortgage, with the excess, if any, geld
<br />to Borrower. If the Property is abandorred by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower tfiat [he insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is atrthorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the slims secured by this Mortgage.
<br />Utrless Lender and Borrower otherwise agree in writing, ary such application of proceeds to principal shalt not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof er change the amount of
<br />such instailmtnu. if under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and io and to the proceeds thereof resulting from damage to the Properly prior [o the sale
<br />or acquisition shall pass to Lender to the extent of [he sums secured 6y this Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. Fwervation ate Maintenanrz of Froperty; Leaseholds; Condominiums; Planned Unit Develapmenis. Borrower
<br />shall keep tbe Property is good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Morgage is on a leasehold. If this Mortgage is on a unit in a
<br />condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or rnvenaats creating or governing the condominium or planned unit development, the by-laws and regu{ations of the
<br />condoaiinitim or olanntd unit development, and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and rceorded together with this Mortgage, the covenants and agreements of such rider
<br />sltaJl be incorporated lino and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />7. Fs ~ Lender's Seearity. If Borrower fails to perform the covenants and agreements contained in this
<br />Mortgage, or if nay action or proceeding is rnmmenced which materially affects Lender's interest in the Property,
<br />ittcltnling, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />banlwpt or decadent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />stems and take such action u is necessary to protect Lender's interest, including, but not limited to, disbursement of
<br />reaaonabk atmittey's fees and entry upon the Property to make repairs. if I~nder required mortgage insurance as a
<br />condition of ranking the loan secured by this Mortgage, Borrower shalt pay the premiums required to maintain such
<br />instiratvee in affect tmtil such time as [he requirement for such insurance terminates in accordance with Borrower's and
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