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UNIPORM CovENetvTS. Botrower and l.en~ler cuvenant and ag~rc aa toUuws:
1. taymenl ot Prioclpl aod lnteresl. Burr~~wrr thall promptl~ pay wh~n d~k Ihe principal of end inlcrest ~n the
~ndebtedness evidcnced by the Note, prepayment rnJ late ch:~rgr. a• ~ruvi~trd ~n thc Notc, and the principal of and intcrest
o~ any Futurc Advancec secu~ed by this Mortgage.
2. Fnads fot Tua aad iatrrsece. Subjcct to applir~hlc law ai ~o a wriuen waiver by I.ender, Borrower shall pay
to Lende~ on ~he day mon~hly installmen~s of principal ~nJ iotrrr.i .ur p~yahlc undc~ thc Nutc, unGl ~he Notc is paid in full.
a:um (herein "Funds") equal to ~ne-tw•clfth o( the ycarl) ~a~~. an~ asties,mcnic which may attain prioriry over this
Mort~age, and grouad rents on the Pc+operty, if any, ph~s one-~wetfth ot ~early premium installmtnls for hazard insurance,
plus one-tweifth of yearly prcmium installme~ts tor mortgage insurancc. ,f any. all ac reasonably cctimateJ initially and trom
time to time by I_endcr on the basis ot a~us~mcnts ~nJ hilb ana rra~unablr eslimates Ihercof.
71~e Funds shall be held in an institwion thc de{xx~t. or arrounts ol which are insured or guaranteed b} a Federal or
slate agenCy (including I.endu if [_cnder is wch an insli~ution). ( ender ahal~ apply the Funds ~o pay said taxes, assessments,
insuranee premiums and gtound rents 1 endtr m~}• ~ot charge tor holding and applying the Fnndc. analyzing said acc~~u~t.
or verifying and compiling said assessments and bill~, unlcss I.ender pay~ Borrower interest un thc Funds and applicable law
pormits Lender to make such a charge. Aorrower and l.ender may agrce in writing at the tinie of executi~~n af this
Morigage that interest a~ the Funds sha~l he paid !a t3orr~~wer, anJ unless such agreemen~ is made or applicable law
requira such intetest to be paid. Lender shall ~ot t~e required to pay Borrawe~ any imerest or earning~ on the Funds. l.ender
shall give to Borrowe~, without charge, an annual aca~u~ting of the Funds showing credils and debils to the Funds and the
purpose for which each debit to the Punds wa~ made. The FunJs are pleciged a~ aJditional securi~y for the sums cecured
by this Mortgage.
If the amount of the Funds held by LenJer, togelher with thc tuture manthly inctallmcnts of Funds payablc prior to
t6e due dates of taxa, assessments, insurance ptemiums and g~ound rent~, shalt ex~ced the amount reyuired to pay said taxes,
asseurt?ents, insurance premiums and ground rents ac ~hey (al! due, such exress shall be, at Borrower's option, either
pranpdy repaid to Borrower or credited to Borrower on monthly ~nstallments of Fu~ds. If the amount of thc Funds
held by Letider shall not be suf6cient to pay taues, assessments, insuranre ptemiuins and ground rents as thcy tall due.
Borro~wer shall pay to Lender any amount neces~ary to make up the deficiency within a0 day~s from the date notice is mailed
by L.ender to Borrower requuting payment thereof.
Upon payment in ful) of dl sums secured by this Mortgage. I.ender shall promptly refund to Sorrower any Funds
held by l.eeder. If under paragraph 18 hereof the Property i, sold or thc Property is otherwisc acquired by t.ender, I.ender
shall apply, no later than immediate(y prior [o the sate of the Property or i~s acquisition by I_ender, any Funds held by
L.ender at the time of application as a credit against the sums secured by this Mongage.
3. AppUcatioo of Paymenfs. Unless applicable law~ provides athervvise, all payments received by l.ender under the
Note and paragraphs I and 2 hereof shall bc applied by I.cndcr first in payment of amounts payable to I_cndcr by $arroK•er
under paragraph 2 hereoE, then to interest payable on the Notr, then to thc prin~ipai of thc Note, and thcn to interest and
principal on any Future Advances,
4. Cbarses; I~eas. Botrower shall pay all taxes. assessmcnts and other chargcs, fines and impositions attribu~ahle to
the Property which may attain a priority over this Mortgage, and leasehold payments or gmund rtnts, if any, in the manner
provided u~der paragraph 2 hereof or, if not paid in such manner, by Borrower makir~g payment, wha~ due. dirocdy to the
payee thereof. Borrower s6a11 promptly furnish to Lender all notices of amounts due under this paragaph. and in the event
Borr+ower shall nnake payment directly. Borrower shall promptly furnish to l.ender receipts evidencing such payments.
Borrower shall promptly discharge any lien which has priority over this Mongage; provided, that Borrower shall not be
required to dixharge any such iien so iong as Borrower shaf! agree in writing to !he payment of ihe obligation secured by
sucb lien in a manner aeceptable to Lender, or shall in good faith contest such lien by, or eiefend enforeement of such litn in,
legal proceedings which opcrate to prevent the enforcement of the lien or torfeiture of the Property or any part thercof.
S. Hazard lasu~ance. Borrower shall kcep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extendeJ coverage", and such other hazards as Lender may reyuire
and in such amounts and for such periods ac Lender may require; provided, that Lender shall not require that the amount of
such rnverage exceed that amount of coverage required ~o pay the sums secured by this Mortgage. '
'tl~e insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
t6at such approval shall not be unreasonably withheld. Al! premiums on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
insurance curier.
AU insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a staodard mortgage
clause in favor of and in form acceptable to Lender. Lender shall ha.•e the right to hold the policies and renewals thereof,
and BorrouYr shall promptly furnish to l.ender all renewal nouces and all receipts of paid premiums. ln the event of lcxs.
Borrower shall give prompt notice~to the insurance carrier and Lender. Lender may make proof of loss if not made promptiy
by Borrower.
Unless Lender and Borrower otheru~isr agree in writing, insurance proceeds shall be applied to restoration or repair of
the Proptrly damaged, provided such res~orat~on or repair is economically teasible and the security of this Mortgage ia
not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage w~uld
be impaired, the insurance proceeds shall be appiied to the sums secured by this Mortgage, with the excess, if any, paid
to Borrower. If the Property is ahandoned by Bormwer, or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by l.ender to Borrower that the insurance carrier ofTers to seule a claim for insurance benefits, I_ender
is authori2od to collect and apply t6e insurance proceeds at Lender's optiun either to restoration or repair of the Propett~~
or to t6e sums secured by this Mortgage.
Unless L.ender and Borrower othemise agree in vuriting, any such application of proceeds to principal shall not extend
or pcutpone the due date of the monthly installmcntt referred to in paragraphs I and 2 hereof or change the amount of
such installments. If under paragraph 18 hereof the Property is acyuired by Lender, all right, title and interest of Borrower
in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to th~ sale
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sate or
acqu;sition.
6. Preserralion and yiaintenance of Propert~•; Leacehulds; Condominiums; Ptanotd Unit Developments. BorroK•cr
shall keep the Property in good repair and shall not comrpit waste or permit impairment or deterioration of the Property
wd sha11 comply with the 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 declarati~n
or covenants creating or governing the condominium or planned ~init development, the by-iaws and regulations of the
condominium or ptanneti unit development, and constituent documents. If a condominium or planned unit development
rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such ricicr
shall be incorporated into and shall amend and supplement the covcnants and agreements of this Mortgage as if the ri~cr
were a part hereof.
7. Protection of Lender's Securfty. 1f Borrow~er failc ro perform the covenants and agreements contained in this
Mortgage, or if any aetion or proceeding is commenceJ which materially afiects I.ender's interest in the Propeny,
including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then ~,e.c~der at Lender's option, upon notice to Borrowcr, may make such appearances, disburse such
sums and takt su~h action as is necessary tu protect l.ender s inte~est, including, but not limited to, disbursement of
reasonable attorney's fees and emry upon the Property to make rcpairs. 1 f I.cnder rcyuircd mortgage insurance as a
condition of making the loan secureJ by this Mottgage. Borrower shall pay the premiums required ta maintain such
inturance in etiect until such time as the requircment tor wch msurance terminates ~n accordance with Borrower's and
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