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UN~FauN CovEN~Nts. Borrower and LcnJer cuvcnant and agree a~ follows: y-
1. hya~e~t ot P~i~cip~l asd lahnst. 8orrowe~ shaU prumptly pay ~hrn dur the ptinciprl of and intorest on the
indebtedness evidet~ced by the Note, prepayment anJ late ch:~r~;~. a~ ~ruvid~d in ihe Note, and the principal of and intercst
o~ suy Futurc Advanca securcd by thic Mortgage.
2. Fwds tor Tua aad lasur~ace. Subjec~ to applir~hlc law ~.r to a v?~ritten waiver by l.ende~. BorTOwe~ shail pay
to l.ender an the day monthly installmeiits o( principal anJ ~ntrrc.~ .~~r payablc undrr thc Note, until the Note ix paid in (ull.
a tum (herein "Funds") equal to one-tw•cl(~h o( Ihe ycarl~ ia~~. enJ ac~cscmcn~c v?~hich may attain priority aver th;s
Mortgsge. and grou~d «o~ on !Ix Property, if any, plus one-twelfth of yearly premium installme~ts for hazard insurance,
plus one-twel[th oi yearly premium installments for mortgage insurancc, ~f any, all as reasc~nably eitimated initially and from
time to time by l.ender on the basis of atses~~ncnts and h~lls :~nd «a~unab~e es~imates ~hereof.
The Funds shall be held in an institw~on th~ depo~u. or accounts ot which are insured or guaranteeci by a Federal or
state aget~cy (inctuding Lender if Lender is auch an instilation). I.ender sha11 apply the Funds co pay said ~axcs, asxssments,
iruutanee premiums and graund rents. 1 ender may nol charge tor a~ holding and applying the Fnndc. analyzing said account.
or verifying and compiling said assessments a~d hills, uoless 1_ender pa~~s Borrawer in~crest on the Funds and applicablc law
permits Lende~ to make such a charge. Ror~ower and Lendc~ may agree in writing at ~hc ~imc of execution oP ihis
Mortgage that interest on the ~unds shall he paid to Borrower, and unless such agreemen~ is made ~x applicable law
rcquires such intercst to be paid, Lender shall not be required to pay 8orrower any interest or earoings on the Funds. I.ender
shall giv~ to Borrawet, without charge, an annual accounting of the Funds showing credits and debits to the Funds and ihe
purpose for which eaeh debit to the Funds w;~s madc. The Funds are ple~lgecl a~ additional srcurily for the sums secured
by this Mortgage.
lf the amount of the Fu~ds held by l.ender, tagether with the iumre monthly installmcnts of Funds payablc prior to
the due dates of taaes. asxssments. insurance premiums and ground rents, shaH e~cceel the amount reyuired 1o pa)• ~aid taxes,
assasments, insurance premiums and ground rents as they fall due, such excess shalt be, at Borrower's option, either
Pranptly rtpaid to Borrower or credited to Borrower on monthly installments of Funds. If thc amount of thc Funds
held by I.et~der shall not b~ sufTicieat to pay taxa, assessments, insurance premiums anJ ground rents as they fall due,
Bort~ower shall pay to Lender any amount nocessary to make up the defeciency within 30 days from the date notice is mailed
by l.ender to Borrower requesting paymcnt thereof.
Upon payment in full of all sutns secured by this Morlgage, t_ender shall promptly refund to Bc~rrower any Funds
heW by l.ender. If undtr paragraph 18 hereot the Property i~ sold or thc Propcrty is athen~+ise acquired by t_endcr, 1_ender
shall apply. no tater than immediatcly prior to the sale of the Property or i~s acquisition by Lender, any Funds held by
Ltader at the Iime of application as a credit against the sums secu~ed by this Alortgagc.
3. Applicatioa of Psymeels. Unless applicable law provides othenvise. all payments received by l_ender under the
Note and paragraphs 1 and 2 hereof shall be applied by I.enJcr first in payment of amaunts payable to 1_enJer by Borrower
under pazagraph 2 hereof, t~en to interest payable on the Note, lhen to the principal of the Note, and thcn to intcrest and
principa! on any Futun Advances. ~
1. C6ar~ea; Lieos Borcower shall pay all taYes, assessmcnts and othcr charges, fines and impositions attributable to
t6e Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower rpaking payment, whea due, directly to thc
payee thereof. Borrower shal! promptly furnish to I.ender all notices of amounts due under this parasraph. and ia the event
Borrower shall make payment directly, Borrower shall promptly fumish to l.ender re^eipts evideneing such payments_
Bonower shall promptly discharge any lien which has priority over this Mortgage: provided, that Borrower shall not be
rcquired to dixharge any such lien so long as Borrower shall agree in writing to the payment of ihe obligatiun secured by
such lien in a manner xeeptable to Lender, or shall in good faith contest such lieq by, or defend enforcement of such lion in,
legal proceedings which operate to preve~t the enforcement of ~hc lien or torfeiturc of the Propecty or any part thereof.
S. Hazsrd Iasuaace. Borrower shall keep the ~mprovcments no~~ ezisting or hereafter erocted on the Property insured
agai~st loss by fire, hazards included within the term "extended roverage", and such other hatards as Lender may reyuire
aad in such amouots and for such periods as Lender may require; provided, that Lende~ shall not require that the amount of
such coverage ezceed that amount of coverage required to pay the sums secured by this Mortaage.
"Ibe iusurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provid~d.
Wat such appruval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
providod under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, Jirectly to the
insurance carrier.
All insurance policies and renewals thereof shali be in form acceptable to Lender and shall include a standard mortgage
clause in favor of and in form acreptable to Lender. Lender shall have the right to hold the policies and renew~als thereof,
and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proo[ of toss if not made promptly
by Borrower.
Unlesc [.ender and $orrower olherv?~ise agree in writing, insurance proceeds shall be applied to restoration or repair of
the Properiy damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
not thereby impaired. If such restoration or repair is not econc~micaliy feasibte or if the security of this Mortgage woufd
be impaired, the insurance proceeds shall be applied tu the sums secured by this Mortgage, with the excess, if any, paid
to Borrower. If the Propeny is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by [.ender to Borrower that the insurance carrier ofiers to settle a claim for insurance bene6ts, Lender
is authorized to collect and appty the insurance proceeds at Lender's option either to restoration or repa~r of the Propem~
or to the sums secured by this Morigage.
Unless Lender and Borrower otherwise agree in writing, any such application of prcxeeds to principal shall not extend
or postpone the due date of the monthly installmcnts rcferred to in paragraph~ 1 and 2 hereof or change the amount of
such installmeots. If under paragraph I S hereo[ the Property is acyuired by l.encler, al! right, title and interest of Borrower
in and to any insurarrce policies and in and to the proceeds thereof resulting from damage to the Propeny prior to th~ sale
or acquisition shaU pus to Lender to the eztent of the sums secureei by this Mortgage immediately prior to such sale or
acquisition.
6. Preservatioo nnd Maintenance of Property; [.easeholds; Condominiums; Planned Unit Developments. E3orrowcr
shal[ kcep the Property in good repair and shall not comrpit waste or permit impairment or deterioration of the Property
and shall comply with ihe provisions of any lease if this Mortgage is on a leasehold_ If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrower s obligations under the declaration
or covenants creating or governing the condominium or planncd unit development. the by-laws and regulations of the
condominium or planned unit development, and constituent J~uments. If a condominium or planned unit development
rider is esecuted by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the riJer
were a part hereof. .
Protatiot~ d Leoder's Security. If Borrower failc to pcrform the covenants ancl agreements contained in this
Mortgage. or if any action or proceeding is commenceJ which materially aBects I_enJer's interest in the Propeny,
including, but not limited to, eminent domain. insolvency, code enforcement, or arrangements or proceedings invol~•ing a
bankrupt or decedent, then l.ender at Lender's option, upon notice to Borrower, ma~~ make such appearances, disburse such
sums and take such action as is neressar~~ to protect Lendcr's ~ntcrest, including, but not limited to, disbursement of
rezsonable attom+ey's fets and entry upon the Property to makc repaire. If Lender reyuircd mortgage insurance as a
easdition of maicfn~ tlld 1oan~seeureJ b}• this Mortgage. B~~rrower shall pay the premiums required to maintain such
iaswance in effect until such time as the reyuirement for such insurance terminates ~n accordance with Borrawer's and
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