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<br />IJNIFOR\i CovErrnrt7s. Borrower and Lender covenant and agree as follows:
<br />i. Payment of Pnnclpal and Interest. Rorrower shall 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 Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and lavuravice. Subject to applicable law or to a written waiver by Lender, Borrower 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 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 />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />:tine to time by Lender an 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 by a Federal or
<br />slate agency (including Lender if Lender is such an institution). t-ender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender ma}• not charge for so holding and apptying the Funds, analyzing said account,
<br />or 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 Lender 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 agrremen[ is made or applicable law
<br />reyuires such interest to be paid, Lender shall not be reyuired 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 a;e pledged as additional securit}• for the sums secured
<br />b)•this hortgage.
<br />1f 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, insurancr premiums and ground rents, shat! exceed the amount requirtd 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 to Rorrower or credited to Borrower on monthly installments of Fonda. If the amount of the Funds
<br />held t,y Lender shall not 6e 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 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upoo payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrowe[ any Funds
<br />held by Lender. If under paragraph T3 hereof the Property is sold or the Propen±' is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the safe of the Property sir its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by'I,this Mortgage.
<br />3. Application of Payments. finless applicable law provides Uthcrw~ise, all payments received by Lender under the
<br />Note and paragraphs f and 2 hereof shall 6e applied 6y Lender first m paylment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then .~ interest payable on the vote, then u, the principal of the Note, and then to interest and
<br />principal on any Furore Advances.
<br />3. Charges; Liens. Borrower sh:+tl pay alt talcs. assessments and other charges, fines and impositions attributable to
<br />the Property whioh may attain a pnority over this Martgage. and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof ar, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Harrower shall promptly furnish w Lender ail nouces of amounts due under this paragraph, and in the event
<br />Borrower shall male payment directly. Borrower shall promptly famish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has pnonty Deer this Mortgage; provideJ, that Rorrower shall not be
<br />required to discharge :my such lien sa long us Burrower shall agree in w'riung to the payment of the obligation secured by
<br />such lien in a manner acceptable ut Lendee. oe ,hail in good faith cunttst such lien by, ar Jefrnd enforeentent aY such lien in,
<br />leg:a pnxeedmgs whtch operate to prevent the enfurtemcnt at the lien or forfeiture of the Property ar any part thereof.
<br />5. Fiazord Insurance. Borrower shall keep the improvements now txisung ur hereafter erected on the Property insured
<br />against loss by fire, hatarJs included within the term "eztendeJ coverage", and such othor hazards as Lender may reyuirc
<br />and u'. such :mtounts and for wch erriods as Lender may require; nrovidcd, tttat Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage ryuired to pa}' the sums secured t?y this Mongagt.
<br />The insurance ,:settee prcrvidina the insurance .hall be chosen by Rr3rr;vvv.r c[tltirct to approval by Lender: provided,
<br />that such approval shalt not hr unrrasunably withheld. AB prcnuums on insurance pcaiictes shaft be paid in the manner
<br />provided under paragraph 2 hereof ur, ii not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewal thereat shut) be in lane accrptat+le to Linder and shall nnaude a atandard ntungagt
<br />clause m favor of and m form acceptable to tender. Lender sh:dl have the right to hold ihr policies and renewals thercnL
<br />noel Borrower shall promptly furntsh to L.enJer all renewal nouces and all receipts of natd premiums. In the event of lass,
<br />Borrower shall give prompt nourc to the insurancr can~trr and lender. LrnJer may make proof of Vuss it nut mode promptly
<br />by Borrower
<br />lJnless !..ender .rod Borrower othen+ne egret in atria ng, insurancr proceed, shall br applied m restoration ar repair of
<br />the Prupsrty dam^gecl, provided such resturatton ur mpair a economic.dl} Icasrhlc and the security of this Afertguge is
<br />not thertb} impaurd. It such maturation ur rep;ur is nut econumirdly feasthle or n the srcunn' of ibis Mortgage would
<br />tx +mpaued, the insurance proceeds shalt be applied to the runts seatreJ h} ihu Mortgage, with the excess, if any, peed
<br />m Borrowkt. if the Propetq is abandoned h}- Bon'uwer, ar it Burrower' fads to respanc! to 1_crtdrr within 3!) day's iron+. the
<br />date ounce a mauled M' Lender to Burrower that the msurmcr currier otters m scale a claim fur insurance benefits, Lender
<br />is authurrted to collect and apply the u+,uruncr prcwecds at Lrudcr's upuun tuber to resmrauou ur repair u[ the Prol>Nrq~
<br />or to the sums secured h) this Mortgage
<br />Unless LcnJrr and Rorrower uthrn+ue agree in wetting, ant' sus:h npplication of pro;:retls to prurc~p;d shall nut extend
<br />or pt>stpane the due daft of the monthly installments reftucd to in paragraphs t and 2 hereof oe change the amount ul
<br />such insndtrnenv. It under paragraph I tS hereof the Property a ;rcyutreJ hg Lender, alt nghL title and interest ut Borrower
<br />in and to any uuurutce pu~cies and m attJ m ihr proceeds thereof rrxdung from damage to the k'nrprrty prior to the sate
<br />ur acuuis[nan kttatt eels to Lender to tht e_atent uI the attms secure) by thtx Muttgagr imntedtutafy pour in ,uch aide or
<br />ucyuisitian. - -
<br />6. Ptrearrvatiors and Maintrnancr of Property; 1.epsrhatds; C'ondominiurnst Planned Uai! i>rsrotaptt[rn[s. ltorn+t<,:r
<br />shall keep the Property in gaud repair and shall nut commit waste ur permit unp:+irmem ue drtutiarauurt of the Property
<br />and shall comply with the Provisions of any lease tf this Mortgage is on a Ieastbuld. !t this tiurtgugr is ,+n ,e :!rot to .s
<br />condunrinium ur a planned unit devclapmrni, Borrower shall perform oil ai Borrower's ohhgnnons tinder the declaratr+~n
<br />ur covenants creating ur governing the ccndummium or planned unit Jevclopmcnt, the by-lawn and n:gulatiun, of the
<br />condominium or planned unit drvelapment, and «+nstttuent Jc>vuntenu. It a condominium ue planned uu+t dc•.veiupmrm
<br />rifer is rxrcutnd by Borrower and retarded wgether wuh this Martgage, the covenants nnJ agreentcnts of wch ruler
<br />shall tee incorporated into and shall amend and supplement the cuvcuants and ugrcements of this Mungagc as +t the rifer
<br />were a pan hereof.
<br />7. Proteelioa of Leador's tiecarity. If Borrower fads to lurfarm the covenants ;mJ agreements asuainrd in this
<br />Mongagr, or if any acUOn ur proceeding is cuaunenced which materially a[fects f.tndtr's iuttrest in the Property.
<br />including, but not limited to, eminent domain, insolvency, rode enfurcrmant, ur arrmtgentruts or procrtdings utvalving :+
<br />bankrupt or decedent, then Lender at Lender's upuun, upon notice ro Rorruwtr, may make such appear:+nces, disburse such
<br />sums and take such action as is neaessiuy to protect Lender's interest, mtluding, but oat limned ro. disbursement of
<br />reasonable attorney's tees and entry, upon the Property to make repairs. It Lender required mungage iuauau+tr us a
<br />taridition of making the town secured By this Mortgage, Harrower shall paY the premiums required fo maintain: sueir
<br />insurance iu effect until such time as the requirement for such insurancr terminates in :tec:>rdanet with Barre,wer's acrd
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