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Utvmatss Covarretrra. Borrower and Lender covenant and agree as follows:
<br />1. 1*ayateat o[ trod lateral. Borrower shalt promptly pay when due the principal of and interest on-the
<br />indehtedness evidenced by the Note; prepayment and Iatt charges as provided in the Note, attt: the principal of and intetsst
<br />on any Fttturc Advaetxs secured by this Mortgage.
<br />1. Fwida for Ta=xes sad ltrmnaee. Subject to applicable law or to a v.Titten waiver by Leader. Botm:+a shalt pay
<br />to LeDder on the day monthly irtstalltnents of principal and interest art payable under the Note, troth the Notes- is pahl-in full,
<br />a sure (herein "Funds' equal to one-twelfth of the yearly taxes and assessments which may ataia priority over-this
<br />Moigage, and ground gents oD the Property, if say, plus onatwelfth of yearly premium ittsteltttients for harard irtsurante.
<br />plus-oaahvetfth of yearly prcmitun tasalimen[s for mortgage inurancc, if any, all as reasonably estimated. initiegy and-from
<br />limo so time by Leader oa the psis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or acetwnts of which are insured or guaranteed by a Federal or
<br />state agency (iocltding Leader if Lender is such an institution}. Lender shall apply the Funds to pay said taxes, assessments,
<br />itaurance prcmiurm and ground rents. Lender may not charge for so holding and applying the Fulda, analyzing wid account,-
<br />or verifying std compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable-law
<br />permits Letder to make such a charge. Borrower and Lender they agree in writing at the time of execution of ibis
<br />Iifortgage that interest on the Funds shall be paid to Borrower, and udess such agreement is made or applicable law
<br />requira such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings oa the Funds. Leader .
<br />shall gave ro Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds std the
<br />purpose for which tech debit to the Funds was made, Titc Funds are pledged as additional security for the sums aewred
<br />by this Mortgage.
<br />If the amoum of the Feuds held by Lender, together with the future monthly installments o[ Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount regtired to pay said taxes,
<br />astwdnenss, iasurattce premiums and groutd rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the arttouat of the Ftttds
<br />hdd by !.coder shall not be sufficient to pay axes, assessments, irtsurattce prcmiuros sad ground rents as they fall due,
<br />Borrowu shall pay to Leadu say amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Uptm payment is full of alt stttrta secured 6y this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If order puagrapt 18 hereof the Property is sold or the Property is otherwise acquired by Leadec, Lender
<br />shall apply, rm later than immsdiatefy prior to the ask of the Property or it: acquisition by Lender, any Funds held by
<br />Linder at the tithe of application as a credit against the sums secured by this Mortgage.
<br />3. AppNattoa of Pap~a[eab. Unless applicable law provides otherwise, all paytaeats received by Lender ruder the
<br />Note attd paragraphs 1 std 2 hereof shall be apptied by Lender first in payment of amounts payable to Lender by Borrower
<br />trader paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and thin to interest sad
<br />principal on any Ftuure Advarroes.
<br />4. Chargttr, Lleaa. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which they alleles a priority over tail Mortgage, and leasehold paymenu or ground rents, if any, in [ht matttter
<br />provided under puagrsph Z hereof or, if not paid m such manner, by Harrower making payment, when due, directly to the
<br />paym thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, std iD the event
<br />Borrower shall make payment directly, Borrower shall promptly famish to Leader receip[s evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage: provided, that Borrower shall not be
<br />required to discharge any such !kn so long as Borrower shall agree in writng to [he payttunt of the obligation secured by
<br />such Lien in a manner acceptable to Letder, or shall in good faith comes[ such lien by, or defend enforcement of such lien in,
<br />legal praxedittgs which operate to prevent the enforcement of the lien or forfaeurc of the Property or any pan thereof.
<br />S. >Elmud tasaaace. Bonowu shall keep the improvemen[s sow existing or hereafter erected on the Property insured
<br />agaiDSt loss by fire, hazards ialuded within the term "extended coverage", and such other hazards as Leader may require
<br />sad in such atttounts arrd far wch periods as Letdu may require; provided, the[ Lender shtall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The iasurattce curler provpiing the ituurancc shalt be chosen by Borrower subject to approval by Lender, provided,
<br />that such. approval shat! not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, tl sot paid in such ruanner, by Borrower tualcing payment. when due, directly to the
<br />ittsitraace cutler.
<br />AB insurance policies sad renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of std is form accepuWe to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br />sod Btxtower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of lass,
<br />Borrower shalt give prompt notice to the insurance wrier std Lender. Lender may make proof of lose if not made promptly
<br />by Borrower.
<br />Utdess Leader and Borrower otherwise agrce in writing, insurance proceeds shall he applied to restoration ar repair of
<br />the Fropeny damaged, provided such restoration or repair is economically feasible and [be security of this Mortgage is
<br />not thereby impaired. If such restoration or repot is no[ econornicalty Feasible or if the security of this Mortgage would
<br />be impaired, the imuraoee proceeds sbaB be applied to ifte stems secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abattdotatd by Borrower, or if Borrower faits to respond to lr_nder within 30 days from the
<br />date tttatite is rnaikd by Leader to Borrowu that the iDSUraace carrier offers to settle a claim for instuance benefits, Lender
<br />is authorized to collet acrd apply the insurance ptocteds at !.seder's option either to restoration or repair of the Property
<br />or to the wins secured trY this Mattgttgs.
<br />Utdess Leader and Borrower otherwise agra in wrung, any such application of proceeds to principal shall not exkad
<br />or patpme the date date of the ttaottthly ittstall~nts refutxd to in pusgnpbs 1 and 2 hereof or change the amount of
<br />such insiaBmeDta. If ttttder paragraph 18 hereof the Property is acquired by Leader, all right, title and interestaf Borrower
<br />is std to shy iowrattce polities aDd in std to the proceeds thereof resulting from damage to the Property prior to the sale
<br />Or a{9gaiiitiOO stall pus l0 I.tndet t0 the exteDE of the stttDS stcu[e~ by -thri Mortgage imntcdiately prior to such sale or
<br />i. larturaYm anti Maiateaarce of Ptropeaiy; l,easeholdr, CoadaasidaasG !•laa.ted Unit t7eveiopmeab. 8orrawer
<br />shag clasp the Property is good repair std shat! Dot commit want or permit impairntcnt or deterioration of the Property
<br />sad sfaaU oampiy with the provisions of say lease if ;his Mortgage is on a kasetmtd. If this Mortgage is on a unit in a
<br />cmdDaaiaium ar • planned unit development, Borrowu shall perform aU of Borrower's obligations under the declaration
<br />or attttenWts creating or govorttiag the coadomtttittm or piaDned unit devebpmeni, the by-laws acrd regufiations of the
<br />ooAOpmiaium or pJanoed unit dsvelopooeot. and cattstttuent documents. if a condouninittm ar ptaaned unit dcvekapment
<br />tidM' tl eaeeuad try BotrawtY sad rewrded togeiMr with this Mortgage, the covettaaa and agreemtrtts of such rider
<br />tkiB oo iaa lino and shag ttorsaal ttttd atsppktrtcai the covenant[ attd agretmenq et this Mortgage as if the rider
<br />wen a pert ttavaof.
<br />9. IRoalaclMa.ttR 6stttsse'e Boettslq. Ef Borrower fails to perform the covmsats aDd agreeatents contained in this
<br />er if, ttmgt sptioet or pcocsadag n commcocttl whkh matertdly affects Lender`s tntuest in the Property.
<br />but trot 1URitod to. emimDt delnaia, intwtacaty, cock caforctmtat, ar arrangetneoa or patx-cedittga utvalvittg a
<br />6tlpktgpt m deoadctnl, [pest !,cedar at L.andsr'a upuoa, upoD rmtrrx to Borrower. cDay matt such appearances. disburse such
<br />snap astd tak,a taat:A action at is y to ptottst tatadtc'a iateedi, tttc}acliag, but sot timieat fa, disbursement of
<br />teeaaoaNs att~saeasy`a fort and-entry 1tpaD tM Property tct make repairs. is Ltttdet requited mortRsgc insurance as a
<br />coatAaea e! toiitjag the ktaq stttttsd by th» 14 1lotrowtt shall pay the premiums rryutrtd to mabtta,n such
<br />iwsKeM4E k eflRirt tigttil attth tYea es the t+pluiraawt.far' suet[ ttuatraact tetntixastea is ac~+Natwo with Bw ruwtr`x and
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