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<br />Uxtratttdt Covexaxls. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Prinefital anal interest. Borrower sfiall promptly pay when due the principal of and interest on the
<br />indtlatedness evidenced by [he 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 />2. Ftirnds for Taxes and Durance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to L.endtr on the day monthly installments of principal and interest are payable u^.der the Note, until the Note is paid in full,
<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 yearly premium installments for hazard insurance,
<br />pins 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 />'fhe F'.ads shall be held in an institution [he deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lend::r if Lender is such an institution). Lender shalt apply the Funds to pay said taxes, as essments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, units Lender pays Borrower interest nn the Funds and applicable lsw
<br />permits Lender to make such a charge. Eorruwer and Lender may agree in writing at the time of exxution 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 snail not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without cheese, 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 due 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 9errower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If ttte 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 />Bonower shall pay to Lender any arnount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, lender shall promptly refund to Borrower any Funds
<br />held 6y Ixnder. If unt'=ar paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, :,:~ later 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 this Mortgage.
<br />3. Application oI Payments. Unless applicable law provides otherwise, all payments received by i_endtr under the
<br />Nosy a„d lsaragrap`,s 1 °' Z herof si ° - applied u l.erider fi- n paymens of amounts payable io Lender ur Eo~rer
<br />under paragraph ' hereof then 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. Cltttrgea; L,kktsv. Barrower shall pay alt taxes, assessments and other charges, fines and impositions attributable ta
<br />the Property which may attain a priority over this Mortgage, and leasehold r~yments or ground rents, if any, in the manner
<br />provided under paragraph Z hereof or. if not paid in such manner, by Borrower making payment, when due, directly to the
<br />paytx thereof. Borrower shat! promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrowtr shall make payment directly, Borrowtr shall promptly furnish to Lender receipts evidencing such payments.
<br />Barrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shalt not be
<br />required to disefisrge any such lien sa long as Borrower shall agree in writing to the payment of the obligation secured by
<br />stub 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 operate to prevent the enforcement of the lien or forfeiture of the Property or any part thtreaf.
<br />S. Haxaed Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />agatastloss by fire, hazards included within the term "extended coverage", and such ether hazards as Lender may require
<br />^a ~ •~•!; . _ _^•_+ i,; •^~ ^.:-a• °- l - .,:-~~ :Lir.i rh of t enApr chat) nor n+nuirr that the amount of
<br />such ~i?v~ra^~e exe`~-.d that amt=aril e f :;o'<•traa required to pag• the sutt{s secured by this Moriea>re.
<br />Slte insuraucc carrier providing the insurancz shall bt chosen by Borrawrr subject tc+ approval by Lea?der. erovidtd,
<br />that such approval sltail not I>w unreal:=nably withheld. All premiums on insurance pencils shalt hr paid in the manner
<br />provided under paragraph 2 hereof err, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />tn~tl3"anti.2 k'~i-r14'-r.
<br />Ail insurance policies and renewals eherenf snail br in fame aeeeprablc to t.en~ier anJ -shalt tnchidr a standard mcartgagc
<br />i`.13ttse to aat`iiF i%i acrd i 1 f'ai'avl7 ari:eptai-lie ta. LLrr:ier. Lender Shall har'e` tilt right tt5 lyi;i3 th2 pilllCii;3 aril i~riew'aiS tltcre"i f.
<br />and Brr v~';<r -t~sall pro.---°°- furnish to I~nd€r at1 rtnekre4 neti_es aria ail rPseip=.s €:E pa€a prtr^iums. in tfu i•v€ni of !
<br />Botrpwtr shall clue orotcsat notice to ttte in;uranca carrttr and Lender- L~1er n?ar n2akt pro~it of l~s if not tli~de promptly
<br />by Borrower.
<br />Unless Linder and Barrower athtrwisr agree in writing, insurance pnxttds xhall be applied io restoration or repair ut
<br />the Propr,rty damaged, provided such rtswratian or repair is economically feasible turd the security of this Martgage rv
<br />not thereby impaired. If such reswrauort ar repair is riot economically feasible or tt the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the exctss, if any, paid
<br />to Borrowtr. If the Prolxrry~ is abanduttctl by Borntwar, or it Borrowtr fails m respond to Lender within ~~ days troth the
<br />date notice is moiled by Lender to Barrower that the insurance farrier otTers to settle a claim for insurance benefits, i.endrr
<br />is autiterized to a?llect and apply th:; it:suranct pro',.eeds a[ ! _n•±rr's apti.~n :lento tv restorasw:t or re+.air : f ihr Praprtty
<br />or to the sums serurtd by this Martgage.
<br />Units Lender and Borrowtr atherwist agree in writing, any such application of proceeds to prtnciput .h.,tl mu extend
<br />or postpone the der, da to of the monthly installments referred ai in paragraphs t and ~ hereof or change the anunnu of
<br />such tustallmtnts. If under paragraph t8 hereof ihr Property is acyuurd by T.tnder, all right, title and interrat of Borrower
<br />in uttc_Y to any ituurance palici~s grad in and so th~~ procrr+L< tiaereut rtsuluttg frerii dantagt to the Proprrt}' prier to she sole
<br />fir a uuii:itia?n Shat! Esc [p I Yncier rn_ the extent nY the 5ll.:S ~L ~rel1 h~~ thes hY Flrtgagr, i.^.t^.:tdia3"1" pri:f* !t? RUCK .ads a_r
<br />aCglti9ltlUn.
<br />6. I+rrsaarvatlan and M1ltdntenance of Property; l.e>~holds; Caadamlaiums; Planned Unit llevelopmeats. Iinrrower
<br />shrift keep the Praptrty in good ecpair and shaft net cammit waste or permit impairment ar deterioration of the Proper[v
<br />~~ =-`ll comply with the provisions '" riy i = .t telex M1iartgag2 is zvti a ieasehuid. if this Mvttgage t> unit
<br />a.iti`i-+lV3i-iiniiliii Vi ~ ~r[arln~d unit ~2~Ct~j7intitt,LBc~Fri war Sh.9II p~rT[}rm 51't i3t OorrOwi;r3 Obli~antifl5 Una7'i<r tfi~ `cl~2t'IE7raiii~n
<br />or covenants creating or governing the condominium or planned unit development, the by-3aws and regulations of the
<br />candontittium or planned unit dtvelopmenf, and constituent doctutatnts. If a condominium or planned unit development
<br />rider is executed by Barmwtr and recorded together with this Mortgage, the covenants and agreements of such rider
<br />shall Ctt incorporated into and shall amend and supplt[nent the covenants and agreements of this Mortgage as if the rider
<br />wort a tart hereof.
<br />~. Protectloa of I,eisdtr'a Secavtty. if Bonower fats to perform the rnvenants and agreements contained in this
<br />Mortgage, or if any action or proceeding is cammenced which materially affects I_tnder's interest in the Property,
<br />including, brit not limited fo, eminent domain, insolvency, code enforcement. or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sums and take such action as is necessary to protect Lender's interest, including, but not limited to, disbursement of
<br />reasonable attorney's Errs amt entry' upon the Property to make repairs. If Lender required mntYgage insurance as a
<br />condition of making the loan secured by this Mortgage, Borrower shalt pay the premiums required to maintain such
<br />insurance in etlect anti! such time as ihr requirement far such insurance terminates in accordance wuh Bortxiwer's and
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