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<br />UNIFORM COVENANTS. BOrrOWCr and Lender covenant and agree as fellows:
<br />1. Paytmat of Principal and Interest. Borrower shalt promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Fuiurr Advances secured by this Mortgage.
<br />2. Iceads for Tares amt Insrtrance. Subieci to applicable law or to a written waiver br Lander, Borrower shall pay
<br />to Under on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full.
<br />a sttm (herein "Funds' equal to one-twelfth of the yearly taxes and assessments which may attain priority aver this
<br />Mortgage, and ground rents on the Propetty, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus otte-twelfth of yearly zremium installments for mortgage insurance. if any, all as reasonably estimated initially' and from
<br />time to tune by Lender an the basis of assessments and bills and reasonable estimates thereof.
<br />T>zc Funds shall be held in an institution the deposits ar accounts of which are insured nr guaranteed by a Federal or
<br />state agancc f iltcluding Lender if Lender is such an institution) . Lender zhali apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge far so hailing and applying the Funds. analyzing said account,
<br />nr verifying and compiling said assesstttents and bits, unless Lender pays Harrower interest on the Funds and applicable law
<br />petTnits Lender to make such a charge. Borrower and Lender matt agree in writing at the time of execution of this
<br />Mortgage [hat interest on the Funds shall bt paid to Borrower, and unless .;uch agreement is made ar applicable law
<br />;equitzs ssah inteitst 20 be paid, Lender shall nai ba rrquired to pay Borrower ary interest ar earnings an the Funds. I..ender
<br />shaEi give to Borrower, without chazge, an annual acceuniing of the Funds shaving credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. Tne Funds am pledged as additional security for the sums secured
<br />by this Mortgage.
<br />Ii 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, itutrrance prernivms and ground rents, shat! exceed the amaunt required to pay said taxes,
<br />assessments, insurance prerniutns and ground rents as they fal} due, such excess shall 6e, at Borrower's option, either
<br />prampily regard io Barrowtr' or cruediied to Barrawer an monthly installments of Funds. If the amount of the Funds
<br />bald by Leader shall oat be sti(ficieat to pay taxis, assessments, insurance premiums and ground rents as they fall due,
<br />Batmwer shall pat' to Lender any amaunt naessar to make up [ht deficient}• within 30 days from the dare notice is mailed
<br />bg Le_titr ro Barrewer resluesting payment thereof.
<br />U}x+n pa;ant in full of all sums secured 'o} this MortGage. Lender shalt prompth' ttifund so Borrower any Fundi
<br />held by Leader. If under paragraph 1R herroi the Proptt'i~~ is said or the Prepern° is otherwise acquired by Lender, Linder
<br />Ott Irv, ~~ tn.P* than ;*++-i7s*_~h~ prier iL the sale of the Property or its acquisition b}' Lender, any Funds held by
<br />Lender at the tune of application as a credit against the sums secured by this \longagt.
<br />3. lkpplieatim of P;}'meats, Gnltss apphcablc law proridu otherwise, all payments received by Lender under the
<br />Nate ate paragraphs i and '_' tter~f shat] lx aQplted by I_endcr first in pa5mrnt of amounts payable to Lender by Borrower
<br />uc3er gzragraph .hereof, then to interesr payable oa the Naa. then to the principal of the Nutt, and then to inier^_st and
<br />principal an any Futum Advances.
<br />d, Bras Borrower shall pay all taxes a>se_esments and other charges., fines and impositions attributable to
<br />the Property which tisay attain a prixirity over [his Mortgage, and leasehold payments or ground rznts, if any, in the manner
<br />provided itndtr garagt'aph 2 hereof or, if pat gai3 in such manrter, '-} &'trrow^er making pa}°mant, wttett dtx, dittctly to the
<br />payer thereof. BotTOVCV shall pramptiy furtrish to I~nder all notice of amounu due under this paragraph, and in the event
<br />Boa-TOwer shall *_aaic pa}went direct]}', liorrawcr shall prampth furnish to Lender m-opts evidtnang such payments.
<br />Brurawtt shall promptly dscharge any lirn which has priority aver this Mortgage: provided, that Borrower shall not be
<br />required to discharge any weir lien so laag as Horrawer shall agm in writing to the payment oS the abtigation sa:ured by
<br />srr~ lice in a manner' accep[ablt ro Leader, or sha13 m goad faith rnntest wch lies by, ar deftnd anforcetnena of such lien in,
<br />kga3 proceedings which operate to prevtat the enter-ement of the lien ar forfeiture of ?he Propcn}' ar an}' pan thereof.
<br />5. iiltard t~aace, Botrouer shall keep the impnvi:lments now cxis[infr .~r hereafter rrected on the Properry• insured
<br />against lass b}' fire, hazards inJuded within the tercet "cxunddcd coverage", and such outer hatards as Lander may require
<br />and in such anxxsau and feu strdr periods as Leader ..-.~ay requite; provided, drat Lander ;hall not require that the amount a(
<br />such cmYrags ercxrd that amount of coverage required is pay the sums sauced b5' this Mangage.
<br />The iaarrince rapier pt~vaiding the inst2anae shall be cbastn by Harrower wbiect to approval h} Lrndrr, provided.
<br />that sos~t apptova3 shall rtat be un..ascxtat3)~ w~thhtNi. All premiums otr insuraticx potiries shalt I+t paid :, the manner
<br />prcnided ttodcr garagraph ? Ixreaf ar. rf tau paid in str..h manner, I]y Borrower making paytrrwt, wtFttr due, dirccth' io the
<br />++~ arctic,
<br />~~ AB iasuramre pnticies and renrwats theta~i shall 6t in farm ecreptab6r to Lcndrr and shall includ~t a standard mortgage
<br />dauae in #avar of and in form acxptable ra Lrn~~. !_andet shall have tht right to hold the pellets and renewals thcm~f,
<br />asd Bnttraa~ shall promptly tarnish to Lender all rtntsvat noutxs and ail rtixipts of paid pmmiums- In the event of lose,
<br />Boaowu shall give prnmgi rtaucr to the irisurame carrier and Letrdtr. l~ndtr ma} maKe pro.~t of bas if not madr prampriy
<br />Ltnieaa Lender and HarrawYr otherwise agree in writing, insurance pnkrzds shall bt appbtd to resraraIian ar repair of
<br />the Prnpct}' damaged, provided stick rntata[ian ar repair is t~-anamically fta:ible and tht stcurity of this Mortgage is
<br />riot thereby itngaired. If such resraratirni or repair n pat r'~ontumcally ftasiblc or rf the sccunn of this Mortgage would
<br />br itta¢atred, the iasruaaa procxads shat! bt apt?lied to tht sums secured by :his lfongagc. +suh she excess. if an}', paid
<br />bu Born'+w-rr. ii the PropsT}~ a at+andaaod b} Bcrrc+wer, ~v it Harrower tail, to rzsgand to Leader within 3C) days from the
<br />daft tror~ae is muted by Leads to &.irrawer ;hat iht rtuirrance tamer alert to stale a clntm for insurance t+tntfiu, Lender
<br />is atahorixed tu coBeci and ap¢+l} zire msursax proxeds at La:ndet i ap±ion tithe to restoration er repair of the Properly
<br />car x, she tarttis saurtd by tilts Mortgage.
<br />LJrsims Leger arm 13wrower athtnrsc agrce en wTiring, an} such appii.at'xr of pra.-etds to pnnctpal shall not Bread
<br />m pa6pme the dui dtstt of the aR3tssh.ie installments rrftrteci to in paragraphs i and ~ 6eraaf ar change the amount of
<br />s>iah instailtrreau. If undo' paragraph iB ltrreari the Pmpenti is acquired b} Lender, all right, tide and interest of Borrower
<br />in and ro any iassu'ance policies and m and to tlx pracmis thereat resulting from damagt to the Property prier to the sale
<br />.~ a»~ shalt pass to Lear to the e?itrm of ttx auras se.;urrd b} ?his \iangagc imrnrdiateiy prior to such sale or
<br />fi. graaeat~iaa >trri !ttaianp~et of ?rape'rt`: LeaseMddtti Caado®iaiams: Phaxd Ltait Developtaeats. Harrower
<br />shel3 kxg 13~ Pinyon}' in geed rtQair and shat' tat commit waste ar petmu rmpaizmen[ or deterioration at` the Propene
<br />earl sbat3 iamp3y with the provisions ai any lease if this Mortgage :s an a itaselx~ld. 1f this ?aiartgage is an a unit in a
<br />~ a planrral trait drwxlopment, Harraa-tr shall perform ail of Borrower's ablegatians under tilt dtclaraunn
<br />~ a crating m' gaveraing the roadaminitrm ar planned unit dtvriopment, the by-laws and regulations of the
<br />--- iii -'~..--Y uae art, znd =~.in u^.tw:tt^xnis. If e car.3arninium ar plane„d unit deselopment
<br />rider is esecauad by Baarowei and rxat'desi 2agtther with this Mortgage, t;x covenants and agznearents of such rider
<br />Flratl 1R ~ into acid shag amend and suppieaxtn the catznaats and agreements of this Mortgage d ;f the rider
<br />was a part hereoL
<br />?_ Praaaefle>. ~ I.eadaft's $ If I~`urower faits to perfurm tht rovtnants and agreements contained in this
<br />~, air if airy aetatt iYr' proot>~iag is commerx.'rat which materially affects Lender's interest in the Prapeny,
<br />itadtxling, last not limited to. emurent domain. irtsolvucy, colt tnforcettsent, or arrangttntnts or proceedings invaiving a
<br />htmYnspt ace' :, ~= Lender ai Lender's opsion., upon notice to Borrower, may make such appearances, disburse such
<br />wens and take atrch atii3ot[ as h necessary to grotat Lender's interest, including, but not limited zo, disbursement of
<br />reae~ahk axtotaty's fxs and entry upon tic- Property io make repairs. If Lender required mortgage insurance as a
<br />conditiao of .snaking t~ loan secured by this Mortgage, Hnrrowtr shall pay the premiums required to maintain such
<br />iawiraaee in effect anal such tint as the trquiretaent far such insurance terminates in accordance with Borrower's and
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