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UNIFORAI COVBNANTS. 8orroww aad.Lcadcr covenant and agrce u iollowa:
l. P~meat of Pclacipl ao~ lptsrat. Borrower shali prort~ptly pay wheo due t6c priacipal of and intereat oa thc
indebtodneas evidencxd by the Note. prepayn~ent and late charges as provided in the Note~ and ihe principal of snd interest
on my Futuoe Advances socured by this Mortga~es.
S. F~ad~ toe Ta:M sni I~uis~ce. Subject ta spplicabk law or to a wrillen waiver by l.cnder, Bocrower shall pay
to Le~r on the day cnonthly installme~ts of principal and interest an payable unde~ the Noto. uatil the Note is paid in lull.
a:wn (heroin "Fundt") cqual to onatwelfth ot the yca~ly taxcs and auessments which may attain priority over this
Mortsase, and ground rents on tl~t Pe~aperty. if ~ny, plus ax-twelfth ot yeuly pnmium inuaUments for hazard insurancc~
plus oaatwelfth of y~arly prcmium iustallmenta for mongaQo iosura~ce. it any. aU as reasonably estimated initially and trom
time io tima by I.ender oa the basis of asseasm~nts and bills and reasonabk estimates thcrcof.
~ The Funds :hall be hefd in an institution the deposits or accounts af which are insured o~ guaranteed by a Federal or
state a~ency (inciudina Let~der if Lender is such an iastitution). l.ender sha11 apply the Funds ta pay said taaes. ~ssessments. ~
iatursnoe premiums and gt+ouad rents. Lende~ may not chatge for so holding and appiying the Funds, analyzing said account,
or verifying and compilin~ said assessmeats and bills. unless Lender pays Borrower interest oa the Funds and applicable law
permits Lender to rriake such a charge. Bonower sad I.ender may agree in writing at the time ot execution of this
Mortga~e that interest on the Funds sball be -paid to Borrower. and ualcss such agroement a made or applics?bk Isw
rcQuira such iatc[~est to be paid. Lender shall nM be rcquired to pay Borrower any intcrest qr earnings on the Fuads. Lender
shali give to Borrower, without cha~ge, an annual accounting of the Fun~is showing crodits and debits to the Fur~dt and the
purpose for which each dtbit to the Fuads was madc. The Funds arc pkdged as additional socuriry for the sums secured
by this Mortgsge.
If tbe amount o[ the Funds held by Lender. together with the future mo~thly installmeats of Funcls payabk prior to 1
the due dates of taxes~ assasments. insurance premiums and ground rents. shali ea~ceed the amouot requircd to pay said taxes.
assessaaeats. iasuraoa pnmiums and ground rcnts as they fall due. such ercess shall be. at Borrower
s option, either
prompdy repaid to Borrower or credit=d to Bormwer on mon[hly installments of Funds. If the amount of the Fund:
held by Lender shall not be w6'icieut to pay laxes, asse.sunents. insuranca pnraiums and ground rents ss they fa11 due,
Borrower shall pay to Leader any amouat necessary to make up the defiriency with+n 30 days from the date notice is mailod
by Ltade~ to Bc~rrower reqt~estiag paymeat thereof.
. Upon payment in ful) of all aums aecueed by this Mortgagc, Lender shall promptly refund to Borrower any Funds
heW by Lender. If under parag~aph 18 hereof the Propeny is sold o~ the Proptrty is othenvisc acquircd by Lender. Le~der
s6all apply. no latsr than immediatety prior to the sale of the Properiy or iis acquisition by I.cnder, any Funds held by
Lender at the time of applicateon as a credit against the sums secured by tfiis Mortgage.
3. Applle~tloa of P~meats. Unless applicabk law _ provides otherwise, all payments .received by Lender unckr the
Notc and paragraphs 1 and 2 hereof shall be applied by Lender first in payment~f amounts~payable to i.ender by Borrower
under paragraph 2 I~reof, tben to interest payable on the Note. thcn -to the principal of the Note. and then to interest and
prencipal on any Fut~u~e Advances. . ~ ~ -
~1. Cl~arses;'Lkns. Borrower shall pay all taxes, assessments and other charges, tfne3 and impositions attr+butabk to .
tbe Propetty which may attain a priority over this Mortgage. and lessehold paymentt ot grou~td-rents. if any, in the manner
provided under puagraph 2 hertof or, if'not paid in such manner, by Borrower mak+ng payrnent. wt~en due, diroctly to the
payee thereof. Borrower shalt promptly furnish to l.ender al! notises of amounts due under this paragraph, and ia the eveet
Bormwer shal! make payment directly, Bormwer shall promptly fumish to l.snder receipts evidencing such payments.
Borrower shall pmmptly discharge any lien which has priority ove~ this Mortgage: providcd, that Borrower shal! not be
requ"ved to dixharge any such lien so bng u Borrower shalt agree in writing to the payment of the obligation secured by
such lien in a manner aooeptabk to Lender, w shal! in good faith rnntest such lien by, or defend cnforccment of such lien ia,
legal proceedings which operate to prevent the enforcement of the lien or fodeiture of the Property or any part thercof.
S. Ha~rd Insaraace. Borrower shaU keep the improvements now existing or hereafter erected on the Property insured
against loss by fire> hazards included within ihe tecm "extended caverage", and sucfi other hazards as Lender may require
and in wch amounts and for such periods as l.ender may requir+e; provideJ, that Lcnder shall rwt require that thc amount of
such rnverage exceed Ihat amount of coverage required to pay the sums secured by this Mortgage.
T6e iasurance carrier providing the insurance shall be chosen by Bonower subject to approval by Lender. providod,
that such approval shall not.be unreasonably withheld. Att premiums on iesurance policies sha!! be paid in the manner
provided under paragraph 2 hereof or. if not paid in such manaer, by Borrower makiag payment, when due, directiy to the
insurance carrier.
Ali insucance policies and renewals thereof shaU be in form acceptabk to Lender and shalf include a stanJard mortgage
clause in favor of and in form acceptabk to Lender. Le~der shall have the right to hold the poficics and renewals thereof,
and Borrower shatl pmmptly furnish to Lender all renewal notices and all rxeipts of paid premiums. In the event of loss,
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if ~ot made promptly
by Borrower. ~
Unless L.ender and $orrower otherwise agree i~r writing, insuranct proceeds shall be applied to restoration or repair of
the Property damaged, pmvidW seuh r+estoration or repair is economically fwsible and the security of this Mortgage is
not t6ereby. impaircd.~ If such ratoration or repair is not economically feasible or if the security of this Mortgage would
be impaired, the insurance proceais shall be appJied to the sums secured by this Mortgage. with the exceu, if any, paid .
to Borrower. [f the Property is abandoned by Borrower, or if 8orrower fails to respond to Lender within 30 days from the
date catice es rnailed by I.ender to Borrower that the insuran~x carrier offers to setUe a claim for insurance benefits, Ixnder
is authorizod to calkct and apply t6e insurance prooceds at l.ender
s option at6er to nstoradon or repair of tbe Propeny
or w the wms secured by this Mortgage.
Udas I.ender and Borrower otherwise agroe in writing, ar~y such application of proceeds to principal shall not extend
or poatpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments: If under puagraph l8 6eroof thc Property is acquired by Lender, all right, titk and interest of 8orrower
in ~od to any insurance policies and in and to the prooeeds ihereof resulting from damage to t6e Properiy ~>rior to the sak
or ~quisition sha8 pass to Lec?du to the txteat of the swns secured by ihis I?lortgage i~nmodiately prior to such sale or
uquisitioa.
6. hesenatbo aod Maiatenaace ot Property; I.easehold~ Candominiums; Plaaned Unit De~dopments. Bormwer
shall keep the Properfy in good repair and shali not commit waste or permit impairmgnt or deterioration of the Property
and s6a11 comply with the provisions of any tea~e if this Mortgage is on a leasehold. If tnis Mortgagt is on a unit in a
condomiaiurre or a planned unit development. Borrower shap perform all of Bormwer s obligations under the declaration
or covenants creating or govetning the condominium or planned unit development, the by-laws a~ ~egulations af the
candominium or planned unit development. and constituent documonts. If a condominium or planned unit development
rider is executed by Borrower and recordod together with this Morigage, the covenants and agreements of such rider
shall be incorporaud into and sball uneod and supplemeot the oovenanu and agreeme~ts of this Mortgage u if the rider
were a put heroof. - -
7. Protectba of Leade~s Secwity. If Borrower fails to perform the covenants and agreements contained in ihis
Mwtgage, or if any action or proceediag is commenced which materially af~ats Lender's interest in the Property.
inctuding. but na limited to, eminent domain, insolvency, code enforcement, or urangements or proceedings involving a
bankruq or decede,~, ~heF~I~ at Lender's option. upon notioe to Borrower, may make snch appearances, disburac such
wms and take :uc1[~ action ` neassary to protect [..ender's interest, inctuding, but not ~imited to. disbursement of
reasonabk attoroey's foes and e~try upon the Property to make repairs. If Lender required mongage insurance u a
r,ondition of making the loan secured by this Mortgage. Borrowcr :hall pay the pnmiums required to maintain such
insurance in effect until such tim~ u the cequircment for such insurance terminata in accordance with Borrower's and
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