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<br />UNIFORM Coveanvrs. Borrower and ].ender covenant and agree as follows:
<br />1. Payment of Principal and lnferest. Borrowe[ shall promptly pay when due the principal of and interest nn 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 Future Advances secured by this Mortgage.
<br />2, Funds for Taws and Issuance. Suhject to applicable law or to a written waiver by Lender, Aorrower shall pay
<br />to Lender on the day monthly installments of principal and ineerest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal [o 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 />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 held in an institution the deposits or accounts of which are insured or guaranteed 6y a Federal or
<br />state agency (including Lender if Lender is such an institution ). Lender shall apply the Funds to pay said taxes, assessments,
<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, unless 1_ender pays Borrower interest an the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage [hat interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest [o be paid, Lender shall not be requited to pay Borrower any interest or earnings on [he 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 T-ands are pledged as additional security .,r the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Fords 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 />assesstarnts, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower an 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 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 promptl}• rehmd to Borrower any Funds
<br />held by Lender. If under pazagraph 18 hereof the Property rs sold or the Property is otherwise acquired by Lender, Linder
<br />shall apply, no later roan immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Leader at the time of application as a credit against the sums secured h}• thts bortgage.
<br />3. A~plkatias of Paymwts. Unless applicable law provides othenvisc. all payments received by Lender under the
<br />Note and paragraphs i and 2 hereof shall be applied by Lender first m payment of amounts payable to lender 6y Borrower
<br />under paragraph 2 hereof, then to interest pa}•able on the Nete, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Chases; ].less. Borrower shal3 pav alt razes. assessments a.^,d other charges, fines and ,mpositrons attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments cr ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, B not paid in such manner, be Borrower making pay'meat, when due, directly to rite
<br />payee thereof. Borrower shall promptly furnrsh ro Lender all noures of amounts due under thts paragraph. and in the event
<br />Borrower shall make payment direct]}•. Borrower chat] promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien •.vhich has pnunty over this Mortgage: provided, that Borrower shall nut be
<br />required io discharge soy such lien so long as Wrrower shalt agree in untmg to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shat! 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 hen. or torfet[¢re of the Property or any part thereof.
<br />5. Ilasard Iitsooace. Borrower shall keep the rmprovements now exisung or hereafter erected on the Property msur:d
<br />against loss by ]is, hazards included within the term "extended coverage', and such other hazazds as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided, that Lender shall not require [hat the amount of
<br />such coverage exceed thst amount of coveraee rcy+~~red to pay the sum, centred by thts ~1orgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject m approval by Lender; provrded.
<br />that swell approvsi shall not be unreasonably withheld. All premmms on insurance pulicres shall he naid in the manner
<br />provided tinder paragraph ? hereof or, +f not paid in such manner, by Borrower making payment, when due dtrectty m the
<br />insuranrce carriu.
<br />AB insurance policies and renewals thereof shall be to form acceptable to Lender and shat! m~7ude a standard mortgage
<br />clause ~in favor of and i^ farm acceptable to Lender. Lender sl:a0 haee the right ur hold toe policies and rencwah ttrucot.
<br />and Borrower shall promptly furalsh to Lender all renewal notrce, and all recerpts of naid premuum. In the event of Ins.
<br />Borrnwet shall give prompt nouce to the tnsurancee carrier and Lender. lender ma} make proof of fuse at not r:tade prumpti,
<br />by BOrrewer.
<br />U'aless Lender and Borrower oiherurse agree in urtung, inswaace proceeds shall be applied u. restoration or repair of
<br />the Properly damaged, provided such restara7ran or repair :> economically ieasrbie and The securrty of rhrs 3tertgage n
<br />not thereby impatred. tf such res[oratran ar repair is ^oi e~an~+micafly fesihl~ or it the s:.:ur;n~ of rhrs \longage wurdci
<br />be impaired, the msuragce proceeds shall be applied to [fte sums secured b} rhrs Mortgage, w,th the excess, if any, patd
<br />is Borrower. if the Property is abandoned b} Borrower, ~+r +t Borrower tarn to rustxrnd to I under wtthm 3l) days tram the
<br />date notice is tnaeied b}' Lender to Borrower that the utsurance canter :+tiers to seine ., clasnt for utsurance benefits, Lender
<br />is authorized to collect and apply the iosurance proceeds at Leader's opt+ou euher u+ resturruon ur repair of the Proper[}
<br />or to the sums secuned by this Mortgage.
<br />Unless Lender and Borrower ntherure agree m writing, sry such apphcaucn of pn.cetls to prmcrpal .half nut extend
<br />ar pos[gone the due date of the munthi} mstaliments referred t~, ,n paragraphs 1 and ~ hcreot or change the amoum of
<br />such installments. 12 under paragraph i S hereof the Propert} .n acyuucd b} Lender. all zrght, rule and ,ntere;t of Borrower
<br />in and is any tnsuraace pulacics aucl is and to the ptocu tie thereof resu;ttag irem damage to the Property prior to the sale
<br />ar acquisinon shall pass to L.zntler 70 [he extent of the sums sre~red 6, [h,s '.kortgagc :mmedrateiy prior t.~ ,uch ssle or
<br />acquisition.
<br />6, Psesenatiou and 111aioleaasce of Property; Leaseho{ds; Condontisiums; Planned Unit Uevelupments. Borrower
<br />shat! keep the Property in good repair and shall not commit u-ante or permit tmpairritent or deterioration of the Property
<br />and shall wmply with the pzovsions of acv lease ri rhrs Mortgage a on a leasehold. Jf ti5is Morgage t, on s unit in .,
<br />tondomimtim or a planned unu development, Burrower shall t?erfarm r]i of Bcrrnwer s +,hl,gauuns under the declara[wn
<br />or covenants creating ar governing the candommrum ar planned unit dev.lopment, the by-laws :+nd rcguiauens of the
<br />coadominitun or planned unit desetapment, and cernstitaetu doeumen;:. ii a aunfominium or ptannad unn devch+pmcni
<br />rider is executed by Borrower unu recorded it+geeher u,th tb+s li argage, .he ~o:enunta and ugrev:nent, :'t ,uch rtdcr
<br />shall be ineorpocated lino and shell amend and supplement the caveasnts and agreements of th,s Mortgage as :f nc~ rider
<br />were a putt hereoL
<br />7: !'saleetiun of I.eader'a Security. 17 Banawer 7a;ls to perform the covenants and agrcemenzs contacted rn this
<br />Mortgage, or if airy aMion c+r pra:2etling ss :unemenced whtclt materially atl,.tits t_nnder's +rteresi rn the Pra>pe:r.1.
<br />includfng, 6u1 not limited tu, etnrnenY domain, insirlxency, rude enicuccmctu, or ar rargemcnts or prucecdincs ,nvoiv,ng a
<br />saankrupt or decedent, rhea Leader at Lender's optic?tr, upon notice r++ Botrnui•r, ,nay ,Hake such appearanreti, .hshurse such
<br />sums and take such action as is necessary to protect Lender's ,ntr.rest, ur:lu:ling, but not ;mute:] t.,. d~shu~sentent , ,
<br />xeasanable attorney`s feex and antsy upon The Prapcny to make s~pauc. ii Lender required mortgage :;rvurauce >,, -
<br />cxmditinn of making the loan set:ured t, tFris Ma#gage, Borrower shall pa} *.he prrmtums rcquved r, mxiut,urt ,u«;,
<br />iasarati~ in effect until such time as ibe requirement for such utsura:r ~e tcnrrna:roe an acc.trdance wRn BGrrr.,wt+rS ar,3
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