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UtYIFORM COVEN.~Nrs. Borrowe~ and 1.enJer rov~nant ;~nd agr~~e a~ folluws:
1. Psymept ot Princlpd sud Interest. Horruwer shall promptly pay whr~ duc the principal of end interest un the
indebtedness evide~ced by the Note, prepayment and late cha~ge~ a~ prrnided in the Note, and ihe principal of and in~erest
on any Futu~e Advances secured by this Mortgage.
2. Fua~ foe Ta:es a~d Inauraace. Subject to appiicable law ar to a written waiver by l.ender, Barrower shall pay
to Ixnder on thc day moruhly installmcn~s at principa! and ~ntcrec~ 3rc payablc under the Note, until the Notc is paid in full,
a sum Ihe~ein "Funds") cqual ta one-twelfth o( the yearly taxrs anJ asussmrntc which may attain priority over this
Mortgage, and gmund ~ents on the Properry, if any, plus one-twelfth of ~early p~emium installments for hazard i~surance,
plus one-twetfth af yearty p~emium instaliments for mortgage insi~rancr, i( any, all as reasonably estimated initially and irom
timc to ~imc b~• l.ender on thc basi~ of assessments and bills ~nd rea~unable estimates thereof.
'Il~e Funds shall be held in a~ institution the deposits or accounts of which are insured ar guaranteed by a Federal or
st~te agency (including Lender if l.ender is such an ins~itution). l.ender shatl apply the Funds ta pay said taxes, assessments,
insurance premiums and ground rents. !_ender ma~• not charge for so hMding and applying the Funds, anal~~zing said account,
or verifying and compiling said asse~sments and bills, uoless t_ender pa~•s Barrower imer~~st on the FunJs and applicable !aw
permits !_ender to make such a charge, Borrower and I_ender may agrec in writing at the ume af execution of this
~lortgage that interest on Ihe Funds shall he paid to Borrowe~, and unfess such agreemrn~ is made ur applicable law
reyuires such interest to tx paid, l.ender shall not he reyuircd t~ ~y B~~rruwer am• interest or earnings un the Funds. .l.enJer
shall give to Borrower, without charge, an annual acawnting of the Funds showing credits anJ debits to the Funds and the
purpose lo~ which each debit to the Funds w°as made. The Funds are pledged as additional secutity for the sums secured
by this \Tortgage. .
If the amoi~nt of the Funds hcld by l_enJer. togcthcr with ihc futurc monthly installments of Fun~s payable prior to
the due dates of taxes, assessments, insurance premiums and ground reots, shall excecd the amount reyuireJ to pa}• said ta~es,
assessments, msurance premiums and ground rents as ihe~• faU due, such ercess shalt be, at Borrower's aption, either
prompti~~ repaid to BorroH~er or credited tci 8orrower on mortthly installments of Funds. If the amount of thc Funds ~
held by Lender ShaU not b~: sufTicient to pay ta~rt, assessments, in~urance premiums and ground rents as the~~ fall due,
Borrower shall pa}• ta Lendrr any amount necessary to make up thc drficirncy w~ithin 30 Jays fmm the date nouce is mailed
by 1_ender to Borrow~er reyucsting payment thcrcof.
Upon payment in full of a!1 sums secetred by ehis Mortgage. l.cndcr shall promptly refund to Bormwer an~~ Funcls
held hy l.cnder. If under paragraph 1R hereof the Propcn} ~s .old ~~r the Pro~x:rt~ is otherH~ice acquircd by I.ender, I.cnder
shall apply, no later than immediatcl~~ prior to the salc of thr ProFx;rty or its acquis~tion by Lender, any Funds helJ b}•
Lender at the time of appliration as a credi~ against thr sum~ u;cured b~ th~s !~lortgage.
3. Appliration of Payments. Unl<<s appficaMc la~ provi~ies othcn+iu. al! papments rcreivcd by Lcnder under the .
Note and paragraphs I and 2 hereof sh:ill be appli~d by Lendcr fint m p~~mem oj amuunts pa}'~blr to Lcnder h)~ Bormwer
undcr paragraph ? hereof, then to intrrest pa~~ablc ~~n th~ tiutr, th~n to the principal of the N~~tc, and ~hen to intcrest and
principal on an}• Futurc Advanccs.
4. Charges; Litns. Borrowcr shali pay aU tax«. :~~.~tismrnts ,~n~ iuhcr chargcti. fines •rnJ ~mM~sitions attributahle to
the Property which may attain a priority over thi~ Alortgage, and Icasehold payments or ground rents. if any~,~in the manner
provided under paragraph 2 hereof or, if not paid in such manner, h}• Sormw•cr m~king payment, when due, directly to the
payec ~hereof. Borrowcr shall prompN~~ furnish to Lender all notices of amounts duc under this paragraph, and in the event
Borrvwer shall make ps~~ment direrNy~. Borroa•cr shall ~?rumptly furnish to !_~nder receipts evidcncing such payments.
Borrow•er shal! promp~ly discharge anp lien whirh has priority u.cr this ~lurtgage: ~roviJed, that Borrower thall nut be
required to discharge any such lien so long as Borrow~r shall agree in ~ntmg t~• the payment uf the ob6gatiun ~ecured by
such lien in a manner acceptablr to Lender, or shal[ in g~x?d faith conte~t such lien by, or defenJ enforcement of such leen in,
tegal proceedings w•hich oper:+te to prerent the cnforcement of the lien or furleiture of thc Property or an}~ part thereof.
S. Hazard Insurance. Borrow•er shall keep thc impro.emcnt~ noN c~isting or hercafter crected on the Propcrty insured
against loss h~• fire, hazards induded w•ithin the term "~~tendc.l coverage", and such other hazards as Lender may reyuire
and in such amounts and for such periocis as Lcndcr m~y reyuire; pru~•ideJ, that l_en~er shall not reyuire that the :~mount of
such coverage e~cecd that amount uf co~erage required to pa~• the ,?~m. ~er~ired by this Mortgage.
"Il~e insurance rarrier providing Ihe insurance shall be chosen by Borrower subject to approval by Lender, provided,
that such appro~•al shall not be unreasonably withheld. All premiumc on insurance policies shaU t+e paid in the manner
provided u~der paragraph 2 hereof ur, if not paid in such manner, b}• Borrower making payment, when due, direcdy to the
insurance carrier. •
Al! incuranre ~licies and rene~als thereof shall ~ in form acceptable ro l.ender anJ shall include a ctandard mortgage
clause in fav~,r ~f and in form accep~:,ble tu Lender. Lender .hal) hav~ thc right ta hold the policies anJ renewak t6ereof.
and Borrow~er ~hall prompdq furnish to I_ender all rcnewal notices and all rcceipts of paid premiums. In the event of loss.
Borrower shatt gi~~e prompt notice to thc in~urance carrier a~~d Lender. I.enJer may make prcx.f of loss if not made promptl}'
b}' Borrower.
Unless I_ende~ and Borrower othen+i,~ agrec in W riUng, imurance pr~kceds shall be applied to restoration or repair of
the Property damageJ, provi~eJ surh re~turauon ur mpsir is ccunomicaHy- feasible and the .ucurity of this Mortgage is
not thereby impa~red. If such restoration or repair is not ~conamirally fcasihle or if the security of this Nortgage would
be impaired. the ~nsurance proceeds shall be applied t~~ the sums secured b~• this Mortgage. u•ith the ezcess, if any, paid
tu Borr~~wer. If thc Property is abandoned h~ Borr~.wer. or i( Borrower fails to res~~nd.to Le~dcr within 30 days from the
Jate notice is mailed b}~ Lender to Borroaer that the insurance carner c•fTers to settie a claim for insurance benefits, Lender
is authorized ta collect and app!}~ the insurancr proceeds at Lend~r's uptiun cither to restoratiun or repair of the Property
or to the sum~ ~rcured by ~his Mortgage.
Unlest Lender and Borrower othen+ix agree in writing, am~ such appliration of Prcxeeds to pnncipai_shatl not extend
or postpone the due datc of the monthi}• instaitmcnts referred tc~ in paragr:~phs 1 and 2 hereaf or change the amount of
such installments. lf under paragraph 18 hereof the Propert~ is acywred bj l,ender, ali nght, tide. and interest of Borrower
in and to an)' insurance policies and in and to thc prexec~is thcreof resulting lrom damage to the Propert~~ prior to the sale
or acywsition shall pass to Lender ta the e~tene of the sums ~ecured b~~ this ~fortgage immediately prior ta such sale or
acquisition.
6. Prescrsation aad lfaintenance of Property; I,eaceholds; Condominiums; Planned Unit De~•elopments. BorroH~cr
shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Propeny
and shall comply w•ith the provisions of any lease if this Mortgage i. on a Ieasrhald. If this btortgage is on a unit in a epo
condominium or a planned unit devrlopmcnt. Borroxer shall ~xrform al~ of Borrower's ~bl~gations under the dcclaration ~s
or covenants creating or governeng the rondum~nium or planncd unit developm~nt, the by-laws and regulations of the ~
condominium or planned unit development, and constituens dcx;umrnts. If a condominium or planned cnrt de~~elopment
nder ~s executed by Borrower ~nd recorded rogether wi~h thix Mc,rtgage, the covenants and agreements of such rider ~
shall be incorporated into and shall amend anJ supptement the co~enants an~l agreements of this Mortgage as if the rider
Kere a Part hereof. $
Protectiop of i.ender's Security. If Borrow~er fa~ls to Ex rf~~rm the covenams and agreements contained in this ~
Mortgage. or if any action or procceding ~s commenceJ W hi.:h materiallp atiects Lender's interest in the Property, ~
includmg, but not limited to, eminent domain, incoivenc)•, ~ixie enf~~rcement, or arrangements ar ~+roceedings invoh~ing a ~
bankrupt or decedent, then Lender at l.ender s option, upon notice tc. Borrower. ma} make sueh appearances, disburse such
sums and take such action as is necessary to protect Lender's inierest, including, but not limited to, disbursement af
reasonable attomey's fees and entry upon the Property tc~ make rcpairs. If Lender required mortgage incurance as a
cond~tion of making the loan secured b~• this ~Nortgaec. 8c,rr~~wcr shall p~y the premiums required to maintain such
insurance in effect nnti! such teme as the rey~~iremem tor such ~nsurance terminates ~n accordance with Borrower's and
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