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UNiFOa~?+ CovtN.~~rs. Borrower a~J LenJer c~?vciiant and agr~t as follow•s:
1. Paymenl of P~incipnl aud Interesl. BurruNe~ shall prumpt{y pay Nhrn due the principal of and in~errst an the
indebtedness e~~idence.l by the Nute, prepaymrnt and latr charge~ a~ provided ~n the Note, and the principal uf and ~n~erest
on any Future Advances sec:ured by ~his M~~rtgage.
2. Fu~ds tor Tsures And lasurance. Subject to applicable law or to a written waiver by l.ender. Borroveer sh~ll pay
to I.ender on ihe day moMhly installment~ of principal and intcrest ure payahle under the Notc, until the N~~c i~ paid in (ull,
a sum (hercin "Funds") equal to onc-twellth o( the yearly taxec anJ assessments which may attain priurity ovcr this
Mortgage, and ground rents on the Pmpc~~y, if ~ny. pl:~s ooe-twclfth a( ~~carly premium installments for h:~card insurance,
plus one-twrlfth of ycarly prcmium installmcnts (ur mortgage insurancc, if any, all as ~casc?nably estimateJ initially and from
tinte to time by Lender on thc basis o( asscs~ntents and hiUs and r~ax~nable eslimates .thereof.
'llie Funds shall be heW in •rn institution the deposits or arcounts af which are insured or guaran~ced by a Federal or
state agency (including Lender i( I_enJer is soch an ins~itution). I.ender shall apply the Fund~ to ~a)~ said taxes, aszessments,
insurance premiums and ground rents. l.ender may nut charge lor ~o holding and apph~ing the Funds, anal}ring said account,
ur ~erifyi~ig and ~~~n~piiing iaid assc„menis .~~:i b~i~s. ~inlcss t_en:i~r ~ss}~s Scf:ek~^~ inien~t ~~n thc Fun~s and apQlicable law
permits Lender to make such a charge. Borruwer and Len.ler may agree in writing at ihe time oi executian of this
~tortgage that interest on the Funds shall he paid to l3orrower, and unless such agreenient is maJe or applicable law
~equires such interest to be paid. Lender shall not be reyuir~~l to pay Burrower any interest or earnings ~n the Funds. 1_ender
shal! give to Borrower, without charge, an annual ac~uunting of ~he Funds showing credits and debits to the Funds anJ the
purpose for which each debit to the 1=unds w;u made. The Funds are pleelg~-d as additiunal security for the sums secured
hy this Mortgage.
If the amaunt of thc Funds held by LenJcr, togcthcr ~ith thc futurc munthly installmcnts of Funds payablc prior to
the due dates of taxes, asscssments, insuranre premiums and ground rents, shall excccd the amount required to pa~~ said taxes,
assessments, insurance premiums and gmund ren~s ac thcy fall dur, such excess chall be. at Borrawer s op~ion, either
prompdy repaid to Borrower or credited to Burmwer on monthly installmcnts af Funds. U the amount of thc Funds
held by Lender shall not bc sutticient to pay ta~es, assetsments, imuran~c pre~aiumt an~l gr~und rents as they fall due,
Borrowc~ shall pay to Lender any amnunt necc»ar}• tv makc up thc drfiricncy within ~0 Ja}~~ trom the date notice is mailed
by Lcnder to Borrower rcyuesting pa}•mcnt thcreof. .
Upon payment in full of all sums sccurcd by this M~~rtgagc. t.endcr shall prompdy refund to BorroN•cr any Funds
held hy Lcnder. If under paragraph 18 hereof the Property is ,old or ~he Propcrty is otherwisc acquircd by l.endcr, Lender ,
shall apply, no latcr than immediat~ly prior to the +ale of thc Propeny or its acquisitinn by l.cnder, any Funds held by '
Lender at the time ~~f ~ppliration as a creJi~ aga~nst 1h~ sumc securcd by this ~lortgage. }
3. Applic~tion oi Paymenls. Unlcss applirahle (a~~ pm~iJcs othcrwisc. all payments recci~•cd by Lc~nder unJer the
Note and par.~graphs 1 and 2 hercuf shall be app6ed by Lender firtt in payment of amounts payable to LenJer b~~ Borrower
under paragraph 2 hcreof. then tu int~r~s1 payable ~n the tiote, thcn to the principal o( the Note, and thrn to interest and
pnncipal un an~~ Futorc Ad~~ances. ~
S. Charkes; I.iens. Borr~wcr .h.~ll pay aU t;~~cs, :i..rssments and othrr charge~. fines an~ impusit~ons attribulable to
the Prupert~~ which may attain a pnority over this ~lortgage, and leasehold payments or ground rents, i( ar»•, in the manner
providc~! unJer paragraph 2 h~reot or, if not paid in ~uch manncr. ht• Borrower m:iking pa}•ment. when du~, d~rectly to the
payee ther~~of. Borrawcr shall promptly furnish to Lender aU notices of amounts duc under this paragraph, and in the event
Borruwer shall make pa}~ment dire~tly, Borrow~er tihall prompHy furni;h to Lender receipts ~~idtnrmg such pa}'ments.
Borro?cer shall prc~mptly dicchargc an~• licn ~~hich hati priorit}• ot•cr this 111ortgagc: pruvidcd, that Borrow~r ~h:dl not br
reywred tu J~sc:harce an~• .uch lien u~ long as Borrv~ver thall agrce in writing to the pa}'ment u( the obligation securcd b~•
wch lien in a manner acccptablr to Lender, or shall in g.xxl faith conte~[ such lien by~, or .lefen~l enforc~ment ot such lien in,
legal pr.~ccdingc which oEx:r:+te to prc~•ent thc cnf.~rcemcnt of the Isrn c~r fortciturr of the Prop~:rty ~u any parl thcreof.
5. Hazard Imurance. Borro~ver thall krcp the impr~~~~ement~ n~~u c~itting ur her~aftcr erccted on the Pr~~perty insured
against loss h~ firc. h~zards includrd withm thc tcrm "a:~tcnJ~J covcragc". and such ethcr hazards as l.endcr m:~~~ reyu~re
and in surh amuunts an~ lor such ~ncxis as Lcnder ma~~ r~yuire; pruvide~l. that I.enJer shall not reyuire that the amount of
such cu~er~gr ez~~~d that amount ~,f covcrage reyuir~d tu pa)' th~ tiumt ,ecurcd h~~ this ;~tortgage.
"Ihe insuranrc ~arrier providi~ig ~he imurance sh:dl be rhosen b~• Borroacr subject to approv~l hy Lender, provided,
that surh ap~ro~al tihaU not bc: unr~au~nahly withheld. All prrmium~ on insurance policies shall be paid in the manner
pravided undrr paragraph 2 herco[ or. ~f not paid in surh manncr, by Burrower making paymcnt, ~~hen due, directly to the
~i ~nsur•rncc .arrcer.
AN insurancc E+olirie, and renc~.:,ls thcre~•f sh;Jl hc in form .icccpt:~blc to l.endcr and shall in~hiJe a ctandard mortgage
I; cl3use in [~~c~r ~~f and in iorm arceptable tu Lender. 1_~~~der ~hall havr the right tu hold the policies and reneaals thereof.
f and Borro~~cr 5h~lt promptl}~ furnish t~ Lender all rcncH.s) nonces and al) reccipts of paid premium,. - In the e~~~nt of loss,
; Bormwer Shalt gi?e pn~mpt notic~ t<~ ~hc insurancr ~arrier and I_ender. Lendcr ma~ makc rr.k~f of loss if not madc prompU}'
! by Borrower.
` Unlcss t.enJcr and Borrow•er otheruisc agrec in Hriting. insurance prcxccJs shall bc applied to restoration or repair of
~ the Property ~lamaced, ~r~~~•~~ed such re~toration or repair is eccmomitally feasible and the security of this htortgage is
not !hercb~ impaireJ. If wrh rc5torat~cm or rcpair ~s n~~1 ~run~~micall} f~asiblc ur if thc securit}~ of this ~lortgagc w~ould
~ be impaired. the imurance pnxeeds shall be applied to the ~ums ucure~ b~ this Mortgage. with the excess, if any, paid
~ ~o Borrow~r. It the Pn~pert~ i5 ah;md~~ned ht Borruw~cr, or it Barrc~wer fails to respond to [_endcr within 30 da)•s (ram the
Jate notice i~ mailed b~~ Lender to Borrower that the insurance carrier ofTen to setUe a claim for insurance henefits, I_ender •
i~ authorized to coUect and apply the insuranre proceeds at Lcnder's o~+tion either to restoration or repair of the Property
or to the sum, ~e:ured hy ~his Mortga~r.
Unles~ I.cadcr and Borruw~rr otherwi~c agrec ~n ~.riting. an~ such application c.f pr~:eeds to pr~ncipal shall not e~tend
~ ~~r postponc thc du~ date of the mon~hl~• im.allmcnts referred t~~ in paragraphti 1 anJ ? hereof or change the amoimt of
such installments. If under paragraph !8 hereof the Prc~p~;rty u scyu?re~ h}~ l.ender, all right, tide and interest of Borrow•er
¢ in and to am ~nsi~rance ~licies and in anJ to thr prcxeeJ~ thereot re~ulting Irom damage to the Property prior to the sale
~ or acyuiyition +half pass to I.ender to thc e~tent of the wms secured b} thu '~fortgege immediat~ly priur to such sale or
9 acywsition.
6. Presenalion and ~laintcnance of Properir I.easehulds; Condominiums; Planned Unit De~~elopments. Borrowcr
~ shall k~ep thr Pn}pen}~ in good repair and shall n~t commit wastc ~r pcrmit impairmcnt or dcterioration of the Property
' ' c ;?,rt..r~.~~,_ „n Ir;~ceh~~ld if thie 111~~rteaee is on a unit in a
' 3I1Q Sfldll COlll~l) N~~i~l it~c ~~iu'viSivi35 v. ui:~ a
~ condumin~um ur a planned unit .levelupment. Borrower ~ha11 Fxrfnrm all ~~t Bormwec's ohligations under the dedaration
~ or covenants creating or governing thr condominium or planned unit de~~elrpment, the by-la~+'s and regulations of the
~ con~~~minium or plrnned unit de~~eiupment. and constituent documems. It a condominium or planned un~t development
~ rider ~i ~~ecuted b}• Borrower and rerorded ~agether w~rth th~s Mortgage, the corenants and agreements of such rider
~ ~hall Eie ~ncorEwrated ~nto and shall amc~~d anJ suppl~ment thc co~enant~ and agreements of th~s Mortgage as it the rider
~ ~cr~ a p.+rt hereof.
~ 9. Prolecliun of Lende~'s Security. If Rorr~aer fa~lti to pcrfurm the covenants and agreements contained in this
~ :4iorcgag~. or if any act~.m ur proceed~ng ~s rommenced Hhich materially~ afiects Lender's ~nterest in the Property.
including. but ~i~~t limited to, em~n~n1 dom~m, in~ol~ency. c~xie enf~~rcement, or arrangements or pnxeedings imoh~ing a
~ bankrupe or d~r~dent, then I.ender at I.ender'~ c.ption, upun notice to Rorrower, ma~~ make such appearances, d~sburst such
sum~ and take su.h artion a, is nece~sar} ti~ pr~~fect l.ender's intrrest, including. but not limited to, dubursement of
~ reasonable attome)~~ (ccs and cntry u~x~n the Property- to make rcpairti. If I.ender reyziired mortgage insurance as a
condition of making th~ loan ~ecure.l by ihis M~~rte.~;e. Borm~•rr shall pay the premiums reqiiired to maintain such
~ insurancr in efte~t until tiuch time as th~ reyuirement for su~h msurance terminates ~n accordance wrth Borrowers and
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