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UNIFOAM COYEN~NTS. BOffONC~ ~ntl I.~nJC~ C~~YQllant anJ a~r~c a~ foUu~rs:
1. Payment of Priaclp~l aod lalcrest. Borruwrr shall prumptly pay Nhcn duc thc ptincipal of and intcrest on thc
inJeb~edneu e~~~denc~J hy the Note. prepayment ~nd late ch~rgcti a, pruviJed in the hote, and the principai ut and intrrest
oa any Futurc Advanca secured by th~c Murtgage.
2. Fuuds tor Tues aad I~urance. Subjcrt to applicable lavv or to a written v?aiver by l.ender, 13orrov?~er ~hall pay
to l.eode~ on the Jay monthly inaaltm~nts of principal and intcre.t are payablc undcr thc Note, until Ihe tiutc iti paid in tull.
a sum Ihercin "Funcis") equal to onc-tw•clfth cif ~he ~•ca~ly ta~~~ and as~ssmcntt w•hich may attain priority over this
, Mortgage, anJ ground rYnts on the Property, if any. pfus o~e-tw•etith uf yearly premium installmcros for hazard insurance,
plus one-twelfth of yearly p~cmium installmcnts [or mortgage insur~ncc, if any, all as rcasonably c~timateJ initiaily and from
time to lime by Lender on thc basis ot a~s~:ssmcnts and hills and reas~~nable cstimatcs thcreof.
'[he Funds shall be held in an institution the deEx~sits or arcuunts ~~f which are insured or guaranteeci by a Federa) or
state agenc~~ (including Ltnder if LenJer is such an insuw~ion). Lender shall apply ~hr Funds to pa~• ~aid taxes, asussments.
insurance premiums and ground rents t.ender may no~ charge for so holding and applying the Funds, analyiing said account,
or verifying and compiling said a~~e~snxnts and bills, unless Lender pa~~s Borrawer interest on the Funds and applicable law
permits Le~der to make such a charge. Borruwer and Lender may agree in writing at the time of r~rcution o( this
Mortgage that interest on the FunJs shall t~ paid to Borruwer, and unless su~h agrecq~ent is made or applicable law
rcquires such interest to. be paid, !_ender shall nut he reyuircd tu pay Bc~rrower any intcrest or carnink~ un the Funds. Lender
shaU give to Borrowe~, without charge, an annual accuunting of the Funds showing credits and debits to the Funds and the
purpose for whhh earh debit to the Funds was maJe. The 1=unds are pledgec! as additiuna! secu~it~~ for the sums secured
b~• this ~tortgage.
If the amount o[ the Funds held b~• I.cnJer, toge~her with the future monthly in~tallmcnts of Funds payablc prior to
the Jue dates of ta~es, as~essn~nts, insurance premiums and ErounJ r~nts, shall excced the amount reyuired to pa)• said taxes,
asstssments, insurance premiums and gruund rents ~s ~he~• (all due. such cxcess shall be, at Borrowcr's option, either
promptly repaid to Borrower or cra,~dited to Borrov?•er on monthly installments of Funds. If ~he amount ot the Funds
held by 1_encler shall not be suflicient to pay .~ares, assessments, imuran.:c prer.~ium~ and ground rents as ~hey fall due,
Borr~wer shall pa}' ta Lencler art}~ amount nec~~ssan• tc. make up ~hr d~hrienc}• within 30 da}s from ~he date n~tice is mailed
by Lender ta Bc?rrower requesting pa}ment thercof.
Upon payment in [ull of all sums sctiured by thi~ \tor~gage. Lcndcr shall promptly r~iund to Borrowcr an~~ Funds
held hy LenJcr. 1[ under paragraph IK hereof ~he Propert~ i~ +c~ld .~r thr Property ~s othen~•i~c acq~nrcd hy Lcnder, LenJer
shall apply. no later than ~mmediatcl~ prior to the ~ale of the Pro~xrty or i~~ aryuisition b~• Lender, any Fund~ held by
1_enJer at ~hc t~mc ol appliration as a credit against the sums sccu~ed by this ~t~~rtgagc.
3. Applecation oi Paymeats. Unless applicabk; law prr?iJes othen~i,c. all pa}•mcnts rrcci~~ed b~~ Lcnder un~er the
Nutc and parag~aph~ 1 and 2 hcrc~~f tih:~ll be apphcd by I_cnJcr fi:~t in pa~mcnt .~f am~~?ints pa~•ablc tu LrnJcr by Bormwcr
under paragraph 2 hcrcof. then ~o intrrrs! payablc on the tiotr, then to thc principal of the N.ote, an~l thcn a. intcrest and
princ~pa{ ua .,m• Future Adeanrrs.
4. CI~arRes: I.iens. Burrowrr ~ha!! ps}' all t~~c~, acs~~sments and ~~thtr charg~.. finc. •rnJ imp~~~it~uns :?ttnbulable to
the Propem• which mav attain a pn~~rity over thi, ~tortgagc, and lcauh~~ld paymcnts or ground rents. if an~-. in thc manner
ptovided unJcr paragraph 2 hereot or. if not paid m wch manner, by Borro~•cr making pa}•ment. .~hen dur. Jirectly to the
payee thercof_ Borruwet shail prompth- furnish to Len~cr all notices of amot~nts ~ue under this paragraph, and in thc c~'ent
Borr~uer ~h~ll make pa~•ment dire~t~}, BorroN~r rhal! prumptl±~ furnish to I.ender rcccip~, ~~iden.ing si:ch papments.
Borroaer shall promptly dischar~;c an~• lien ~hi~h has pnont~~ o~~er this ~lortgagr. ~+ru~•i~lcd, th:~t B~~rrow~~r ~hall not be
reqwred ta discharge aa}• ~uch lien so long as Borrow~r shall agree in w~riting to the pa}m~nt ul the obligatiun secured by
~uch lien in a manreer acccptable t~~ l.ender, or ,hall in g~xi taith cont~.t such lien by, or Jefen~ enforcement c?f such lien in, -
legal pr.~:~cdu~g. ~hich oEx.r~t~ to pre.ent thc enforcemcnt oi thc li~n c~r torfciture of the Propert~• or an~~ part thcreof.
5. Hazard Insurance. t3~rru~er ~hall ~.cep the ~m{~ro~em~nt+ n~~~ c~icting un c~r~after crrcted on the Pr~~~xrty insured
~gainst Ivs~ h~~ fire. hazards inrluded ~+th~n the trrn~ "~~tendeJ covrr;~ge". and such other hazards ac I.ender may reyuire
:~nd +n su.h .,mrunt, and t~~r ,u~h ~xn~elt ati Lender may rcyuire; pn~ciJed. that L~n~i~r Shall not rt~yuirc that the amount u(
su~h ~i~~'Cr~~~ c~cc-ed that amr~unt of a:o~erage rcqwrrd t~• ~a~ ttte ~um~ .e~urrd h} this ~1o~lgag~.
The ~nsi~rance carrier pro~•idin~~ the insur:~n~e tihall tx: .hos~n b~• B~~rru~+cr ~i~bject to appro~al M• 1_ender: prov~ded.
that cuch appro~al ,hall m+t be unrea~onahl~• withheld. ~VI prrminm+ un insurancc policies ~hall bc ~ai~i ~n the manner
pro~ided und~r par~graph 2 hereof ur. if not paid in such manner, b}• Borrower making payment, when due. ~fircctly to the
insurance carner.
All insuran~e poliries and r~n~t•~fs there.~t shall br ~n forni acc~ptable to I.cn.trr ~nd shall ~ncludr a stan.i.~rd mortgage
claux in~fa~•ur ~,f and m furm ar.eptahle t., Lender. I.rnder .h~l! ha~r the right to hold th~ p.,lirirs anJ rene« alti thereot.
:,nd Be~rru~er .nsll pron:ptlc furn:sh to Lender al! renrwal nouces and all rcceipts of paid premi~~m~. In the e~ent of luct.
BorroNer tih:,l! c~~~e pror~pt notice ta th~ inwr~n~~ .arrier :~nJ Lendcr. 1_enJer ma~ m.il:e pro~f ~~f loss if nrt made pr~~mptl~~
M Borrowcr.
Unleis Lender and Borr.~~?~r othen+~ ik agrer in H nting. insuranre pre~cecd~ shall be applied to re,?oration ur repair of
the Property ~lamaged, pr.?.~:.'sed wch re,turauon ~~r repair is econ~~mical{~~ feasihle and the serurity of th~s Mortgage i.
not thereb~ impaired_ li ~u~h re~tu:.~ti~~n or rcp~~r ~s nut e~~~nomically (e:asible ar if the securrt~~ of Ihis ~1~vtgabe would
be impa~red. .he insurance pr~tieeds .h.,tl be appl~ed to the tiums x.cure.l b~ thit :~lortgage. with the excecs, if an~•, pa~d
to Borrcw~rr. If lhe Propert} is ah~nd.~n~d h~ Burrvwer. rr it Borrc~wer fazls t~ respond to Lender within 30 days from the
date notice e, inaiieci b~ Lender tu BorroNer th:,t the ~nsurance carricr o(Ten to seule a claim for insurance benefits, I_ender
.,uthunzc~ei t.~ coliect and appl~~ the imuratic~ pracc•eds at LenJer"s uptiun eilhcr to r~~stor:~tion or repair of the Property
or to thr sum~ x~ured h} th~s ~furtgag~.
l;nless I_cr.der and Borr~~?~tr uthcn+ix :eg«c ~n Hriting, ~n} s~irh appii~ation of pnxeeds to principa) sh:+ll not extend
or pustpone the due d~t~ of the nwnthh• in,tallment+ rcferred to in par:~crc,ph~ 1 an~l ? herc~~f or change the amount of
wch ~mtatlmcnts_ if unJer paragraph 18 hereof the Pmpe.rt~~ is a~yusred ht Lcndcr, all right, title and interest of Borrower
in and to am insurance pol+cies ~nd in and to thr prucezds thereot re,ultinb fr.~m damage to the Property prior to the sale
or acyuisition sh~ll pa~s to Lender to the e~tent v( thc sums s~tiured by thi~ ~tortgage immediately prior to auch sale or
acyuisition.
6. Presenatioa wd lfaiotenaacr of Propert~: I.easehulds: Condomini~~ms; Planned t nit Ue~~elopmenls. Rorrow•er
shall kcep thr Property in good repair and shall not commit weste or pcrm:t ~mp:,irmcnt or detcrioration of the Property~
and shall cnmph Nith thc provis~ons of any lease if th~s Mortgage n un a Icas~hold. If thi: ;1lortgagc is on a unit in a
condominium or ~ planned un~t Jc~clopment. Borruwer ~hall perform a!1 of Borro~.er's ~~bligauons under the declaration
or rover~ants crratmg or goverang the crndorn~mum or planned ~~nit development. the by-laws and regulations of the
condrmi~ium or planncd unit development. .~nd cons~ituent documen~s. I( a condominium or planned unit development
riJer ~s ~xe.uted b~• [3orrower and recorded together wi~h this ;~fortgage, the covznants and agreements of such rider
shall }x ~ncorporated tnto and shall amend anJ supplement thc a~~enants and agreemcnts of this Mortgage as if the riJer
were a part hercof.
7. Protectioo of .(.enders Security. Ii R~•rrower tails to ~rform the covenants and agreements contained in this %
Alortgagr, or if any act~un or pr.xeed~ng comm~nced whi~h matcnall}~ affccts Lender's interest in the Property.
including. but n.~t lin:rted to. em~nerit doma~n. inu.i.~cnr}, cc~de enforcement, c.r arrang~ments or proceedings invoh~ing a :
bankrupt or decedent, the:~ LenJer at 1_ender's «ption, upnn notice to Borrow•er, ma~~ make such appearances. dishurse such '
sums :~nd take such arti.m ac ?s ne~e~~ar~• to prutec~ Lender'~ mtcrest, includ~ng. but not I,~c~tited~~p,tdi~bursement af -
reasonahlc attomc}~, ires and entry upur the Propcrty tn makc rcpair~. If 1_cndcr rcyui.•ed~mortgage insurance as ;
condition of mak~ng th~ loan secured b} thic \t~~rtgage. B~~rn?N~r shall pay the premiums required to maint~~n such
insuranee in etIect unul ~uch ume as the reyuircment (or ~uch insurance terminatcs in accordanLe with Borrow•er's and
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BoR~ 283 PA~F_ 34$
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