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<br />UriroaM Covenx~TS. Borrower and Lender covenant and agra as follows:
<br />i. Prpateat o[ Priasiptd and Iattmt. Borrower shall promptly oar wizen due the principal of and interest on the
<br />indebtedness evdex¢d by the Note, prepayment and late charges as provided m the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Pirads for Saxes turd Irenrtmce. Sub}ect to applicable taw or to a written waiver by Lender. Borrower shall pay
<br />to Lender on the day rnonthfy installments of principal and mtercst are payable under the Note, unfit the Note :; paid in full.
<br />a sum (herein "Funds'-1 equal to one-twelfth of the yearly taxes and assessments which may attain priority aver this
<br />Mortgage, and ground rents on the Property, if arrv. plus one-twelfth of ynrly premium installments for hazard insorance.
<br />plus one-twelfth of yearly premium iasiathxnts for mortgage insurance. if any. all as reasonably estimated initiaiiy and from
<br />time to time by fender on the basis of assasmmts and bills and reasonable estimates thereof.
<br />Ths Funds shall be held in an institution the deposits or accounts of which are insured or guarameed by a Federal or
<br />state agenc}• tinc3uding Lender if Ixnder is such an institution). Lender shall apply *.he Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for se holding and applying the Funds. analyzing said account.
<br />or verifying and compiling said assessments and bills, unless Lender pays Bottower interest on the Funds and applicable law
<br />permies Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage [fiat interest on the Funds shall be paid to Bortower. and unless such agrament is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings en the Funds. Lender
<br />shah give to Borrower, without charge, an annual accounting of the Funds sh+rving crzdits 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 eround rents. shall ezcad the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they tail due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borzower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sitfficieat to 'pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borzower shall oay to fertdsr any amount necessary' [o make try the deficiency within 30 days from the date notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, [..ender shall promptly refund to Borrower any Funds
<br />held by I-ender. If under paragraph f g hereof the Property s sold or the Property rs otherwise acquired by Lender. Ixnder
<br />shall apply, no lacer than immediately prior to the sale of [he Property or its acquisition h}• Lender. any Funds held by
<br />Lender at the time of application as a credit against the sums secured by thrs Mortgage.
<br />3. ApplfcallAO of Psymeats. Unless applicab,c law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shah be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragr.ph 2 hereof, then to interest payable on the Note, then rn the principal of the Note. and then to interest and
<br />pri neipai on any Future Advantzs.
<br />S. Charges; Liens. Borrower shall pay all taxes. assessments and ether charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid m such manner, by Borrower making payment, when due, directly to the
<br />pays thereof. Borrower shall promptly furnish to Lender all nouces of amounts due under this paragraph. and in the event
<br />Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any Tien x-hich has pnoaty over this Mortgage: provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree m writing tc the payment of the obligation secured 6y
<br />such ?ten in a manner acceptable to Lender, or shall in good faith contest such lien hy, or defend enforcement of such ;ten m.
<br />legal procadings which operate to prevent the enforcement of the tier. or forferture of the Property ar any pan thereof.
<br />5. Hazard Itisunnce. Borrower shall keep the :mprovemems now ext.+ung or hereafter erected on the Property insured
<br />against toss by fire, hazards included within the term "extended coverage". end such other hazards as Lender may requre
<br />sad in such amounts and fur such periods as Lender may require: prooide[E~ the[ L ender shall not require that the amoum ui
<br />such coverage excad that amount of caeerage required to pap the aims secured by the Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower sub)ec! to approval by Linder. provided.
<br />that such approval shill nC.t be unreasunabiy withheld. .4!! premmms on insurance policies shall he sad in the manner
<br />provided under paragraph Z hereof or, :t not paid in such manner, by Borrower making payment, when due, directly to the
<br />in3trdarr~t carrlsr.
<br />Al! insurance policies and renewals thereof shall be m tams acceptable [0 1_cnder and shall :ndude a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall haze the right to hold the polices and renewals thereof.
<br />and Borrower shall promptly furnish to tinder all renewal nouces and al! receipts of raid premwms. In the event of loss.
<br />Borrower shall give prompt settee to the insurance carrier and l.-ender. Lender may make prowl of toss d sat made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in wnnng, insurance proceeds shall be applied to restoration ar repair of
<br />[he Property damaged, provided such restoration or repair is economically feasible and the security of the Mortgage :s
<br />not thereby impaired. If such res[orauon or repair is not emnomtcally feasible or i( the security of this Mortgage would
<br />be impaired, the insurance procads shall be applied to [he sums secured by the Mortgage, wuh the excess, if any, paid
<br />to Borrower. It the Property is abandoned by Borrower, or rt Borrower tads to respond to Lender wuhin 3G days from the
<br />date notice is mailed by Lender to Borrower that the insurance earner often to settiz a claim for :rourance benefits, Ixnder
<br />is authorized to collect and apply i}ic insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to tfte sums seoired by this Mortgage.
<br />[Jnless Lender and Borrower otherwise agree m wasting, any such application of proceeds to pnnapal shall not extend
<br />or postpone the due date of the manthty installments referred to in paragraphs I and 'hereof or change the amount tit
<br />such installments. If under paragraph I8 hereof the Property is acuwred by Lender, all right, title and interest of Borrower
<br />in std [a any insurance policies and in and to the pra;ezds thereof resuhing from damage to the Properly pt+or to the sale
<br />or awidsition shalt pass to Ixnder to ~e zxtent of the sums secured by the Mortgage +mmediateiy poor ro +urh sale of
<br />acquisition.
<br />6. Preaers'atltta and Mafoleaaece of Property; leaseholds; Condominiums; Phoned Unit Uevefopraeols. Forrower
<br />shall kelp the Property in good repair and shall not commit waste or permit +mpairment or deterioration of the Properly
<br />and she!! s:...~.=.iply with the pravsions of cry !ease :( this 4lartgage ~+ on a leasehold. it thi. Mortgage is nn a ::rat i+:.,
<br />con6bmimum or a planitett trait development, Borrower shall perform alt of Borrower's nbhgauons under the declaration
<br />or coveoants creating or governing fix condominium er planned unit development, the by-laws and rcgulatwns of the
<br />condominium or planned unit development, and constituent dtxumenis. li a condominium or planned unit de.elopment
<br />rider is executed by Borrower std recorded tagziher wuh this Mortgage, thz covenants std agreements of such :[der
<br />attaB be tncatporated into sad shall amend and supplement the covenams and agreements of this Mortgage as :f the rider
<br />were a part hereof.
<br />7. Troteedoa et Lea~s's Secar§y. !f Borrower fails to perform the covenants and agreements comamed :n this
<br />~tsase, .. a.°.y - - p:~.ling '- s....v., - mat -.ally a - . ...r -. .r.~t-- - e rapzny.
<br />inci»dirsg, but not limited to, eminznt domain insolvency. c~de'tn(orcement. or arrangsmentssnr rpr xeedings invoking a
<br />hattluupt or dez:esfent, then Lender at Lender's option. upon notice to Borrower, may make such appearances, d+sburse such
<br />rums sad take such action as is cecesrary to prated L.sndei s mizrest, including. but not limned ro, disbursemem ..f
<br />reasooable atmttxy's lea and entry upon ttx Properly to make repairs. if Ixnder required mortgage inwrartce as a
<br />r.aadiuott al making the town seeuraxt by this Marigagq Borrower shall pay the premiums tequircd m maimam wch
<br />iuWranCE in a$ed[ uoW such time as the requirement for su.:b insurance term+natzs .n acuudance w,ih Borrower's and
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