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$~-= Uv473~ L'NiFORM Ccvsxar,tts. Bonower and Lender covenant and agree as follows: 1. Payment of Principal and Interest. Borrower shall pramptN pzy when due the principal of and interest on the indebtedness evidenced by' the Note. arepayment and late charges as provided in the Noe, and the principal of and interest on an}' Future Advances secured by this Mortgage. 2. Fnnds far Taxes and Insurance. Subject to applicable law or to a warren waiver by Lender. Borrower shall pay [o Lender on the day monthly installments of principal and interest are payable under ffie Note. until the Note is paid in full. a sum (herein "Funds") equal to one-twelfth of the yeariy~ taxes and azxssments which may attain priority over this Mortgage. and ground ants on the Property. if any. plus one-twelfth of yearly premium installments for hazard insurance. plus one-twelfth of yearly premium installments for mottgat[e insurance, if any. all as reasonably estimated initialW and from rime xo time be Levder on the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution the deposiu or accounu of-which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall zpplc the Funds to pay said taxes. azsessmenu, insuratce premiums and ground rents. Lender may not charge for so holding and applying the Funds. analyzing said account. o: verifying and compiling said assessmenu and bills, unless Lender pays Borrower interest on the Funds avd applicable law permiu Levder to make such a char¢e. Borrower and Lender may agree in writing at the time of execution of this Mortgage that interest on the Funds shall be paid [o Borrower, and unless such agreement is made er applicable law requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debiss to the Funds avd the purpose for which each debit to the Funds was made. The Funas are pledged as additional security, for the sums secured by this Sortgage. If the amount of the Funds held by Lender. together with the future monthh• installments of Funds payable prior to the due dates of taxes, rssessmenu. insurance premiums and ground repo, shall exceed the amount required to pzy said taxes, assessmenu. insurance premiums and ground rents as they fall due. such excess shall be. at Borrowers option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. if the amount of the Funds held by Lender steal! not be sufficient to pay taxes, assessmenu. insurance premiums and ground rents az they fall due. Borrower shall pay to Lender any amount necessary to mike up the deficiency within 3D days Tram the date notice is mailed by Lender to $onower requesting payment thereof. upon payment in full of all sums secured by this Mongage. Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 1 S hereof the Propem~ is sold or the Propene is otherwise acgmred by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held b}' Lender at the time of application as a credit against the sums secured b}' this Mortgage. 3. AppBcation of Paymenu. unless applicable law provides otherwise. all paymenu received by Lender uvder the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph Z hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and principal on nay Futwe Advances. 4. Charges; liens. Borrower shalt pay all taxes. assessmer.[s and other charges. fines and impositions attributable to the Propem• which may attain a priority over this Mongage. and leasehold payments ar ground rents. if any, in the manner provided under paragraph Z hereof or. if no[ yard in such manner. by Borrower making payment, when due. directly to the payce thereof. Borrower shall promptly furnish to Lender all notices of amounu due under this paragraph. and in the event Borrower shall make payment directh~. Borrower shall prompth' furnish to Lender receipts evidencing such paymenu. Borrower shalt proinpth• discharge any lien which has pnorin• vvcr this Mongage: pravtded. that Borrower shall not be required to discharge avy such lien so long as Bonower shall agree in writing m the payment of the obhgation severed by such lien in a manner acceptable m Lender, or shall in good f aith contest such lien by. or defend enforcement of such lien rn. Legal procttdings which operate to prevent the entorcement of the tiro or Porfenure of the Property yr any pan thtrzof. 5. Ilxzard Insurance. Bonower shah keep the improvements paw txistinc or htreafttr treetcd an the Property insured against loss by 5re. hazards enduded wiWm the term "extended coverage". and such other hazards as Lender map requue sad kn such amaanu and far such ~riods as Lender may require: provided, chat Lender chat! nut rtquirr ?hat the amount of such coverage exceed that amount of cn~. erage required to pay iht sumx secured 6}' this Mortgage. T7te insurance tamer providing the insurance shall be chosen by Bonower subicct to approval by Lentier: provided, that such approval shall not be uareasmably withheld. All premiums an insurance policies shall be paid m the manner provided under pazagraph 2 hereof or. if not yard in such mamer. by Borrower making payment, when due. directly to the insurance carrier. All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mongage clause in favor of and in form acceptable to Lender. Lecder shall have the right to hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender all revewal ponces and all rectiprs of paid premiums. In the event of less. Borrower shalt give prompt notice to [be insurance carver and Lender. Lender may make proof of loss rt not made promptly by Borrower. Unless Lender sad Borrower othetwise agree in writing. insurance proceeds shall be applied to restoration or repair of the Property damaged. provided such restoration or repay rs economically feasible and the security of this Mortgage is no[ thereby impaired. If such restoration or rtpau is not economically Erosible or if the secunn' of this Mortgage would be impaired, the insurance proceeds shall be applied to the sums secured by this Mongage. u~uh the escess. if an>~, paid to Borrower. If [he Property is abandoned b} Borrower. or tt Borrower tails ra respond to Lender wtth~n 3D days Lrom the dot notice is moiled by Lender to Bonower that the insurance carrier offers ra senle a claim for insurance benefits. Lender is authoriud to collect and apply the inswance proceeds at Lender's option either to ratoration or rtpatr of the Propem or to the sums secwed by this Mortgage. UNeus Lender and Bonower otherwise agree m wtivng, any such application of proceeds to pnnctpal shall not extend or postpone the due date of the monthly installmenu referred to in paragraphs I and ?hereof or change the amount of such instdlmenu. if under paragraph 1 S htreo•. the Propem ti acgmred b~ Lender. ate right, title and interest of Bonower is sad to as}' iastttaact ;~ltces :.nd in sad to the precetds chertef resulung Prom damage to the Prapem pnor to the sale or acquisition shall pass to Leader [o the extent of the sums secured b} this ~langugt immedtattly pnor to such salt or acquisition. 6. Preservation sad llainteoaace of Prepertp: Leaseholds: Condominiums: Plamred Unit DevtiopmenU. Borrower shall keep the Propcm• in good repair and shall not commit caste ar permit tmparrment or detenoration of the Property and shall comply with the provisions of nay lease if this !vortgage is on a leazeheld. If this Mongage is en a unit in a condotninrtmi or a planed unit development. Borrower sball prrform all of Bonowers ebhgauons under the declaration or covenaau creating or governing the condominium ar planned unit development. the by-laws avd.regulauons of the rnndominium ar planned emit development, and cetutitutnr docwnenu. If a condominium ar planned umt development rider is executed by Borrower and recorded together with this Mongage. the covenam and agreemeau of such nder shall be incorporated into and shall amend sad supplement fix covcnanu and aereemenu of this Mongage as iP [ix rider were a part hereof. 7. Preteciioo of Leaders Seearity. If Bonower fails to pertnrm the covrnanu and agrcettxnu contained in this Aforigagt, er if nay acoon or proocediag u commeno:d which materially aSecu Lender's incertst is the Propem. including. but not liadted to, eminent domain. insolvency, cod: enforcement or arrutgemevu e: prt~-eediags ivvo.ving a bankrupt or de~sdmt, then Le¢dtr at Leaders option, upon notice to Bent -er. may mate ru.h appeatartes. disburse su.h sums and take staoh action zs is txs~tssary to protect Lenders interest. including. but not limited to. disbursemcvt et reasntxahk anamey's fees sad win' tenon the Propem~ to make rrpain- If Lender rcquirtd mortgage insurance ss c enndidon of tnakiag the loan secured by this Afongage. Borrower shalt pay the premiums required to maintain such -~ in efitxt tmn7 such time az the regtriremen[ for such insurance terminates m a :romance with Borrowers and