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UNIFURM COYEN.~NTS. BOfrowcr and l.cndrr covenant ~nd agr~e as follows:
1. Payn~rnt of Principd aud !nletFSt. liurruucr ~hall prumptl~• pay whcn due thc principal of and interest on the
indebtedness evidencc~l hy the Nute, prepaymrnt anJ late chargc. p~uvided in the hate, and the prin~ipal ~~f and intercst
on a~y Futurc Adva~ccs sccureci b~~ thic M~~r~gagc.
2. Fuads tor Tases and Insurance. Subject to applicable law or to a written waivcr by I.cnder, BOROwer shall pay
to LenJer on thc day monthly inslallmenls of pri~cipal and intcrest are payahle undcr thc Nate, until ~he Nut~ is paid in tull,
a sum (herci~ "FunJs") equal to one-tw•clfth of the yearly ta~ec and assessmcnts a•hich may attain priurity o~~cr this
Mortgage, anJ ground rents on the Pmperty, if any, plus o~e-tw~lfth ut yearly premium installments fer harard insurance.
plus une-twelfth of yearl~• prcmiu~h i~stallments for mortgage insurancr, if any, all as r~asonably estimated initially and from
time ro timc by I.ende~ ~n the basi~ of a~.~es~ments and hills anJ rcasunable estimates thereof.
The Funds shali be held in an institution the depusih or accuunts of ~which are inwrecf or guaranteed by a Federal o~
state agency (including Lender if 1_rndcr is ctrch an institutian). I.ender shall apply the Funds ta pay said taxes, assessments, ~
insurance premiums and grouad rents. l.cnder ma~~ not charge tor .o hol~ling and appiying thc F-unJs, anai~•zing ~ai~i accuuni,
or veri[}~ing and compiling said auc~sments anJ bills, uoless l.ender p:?ys Borrower interest on the Funds and applicable law
permits Lender to make such a charge. Born~wer and Lrnder may agree in writing at the time ot ex~-~ution of this
~tartgage that interest un the FunJs >h:~ll he paid to Borrowrr, and unless such agreement is made or ~pp:icable law
rcquires such interest to be paid, l.rnder shall not bc rcyuired to pay B~~rrowcr any imerest or earnings on the FunJs. l.cnder
shall give to Borruwer, without charge, an annual accuunting o[ the FunJs showing credits anJ debits to the Funds and the
purpose for which each debit to the Funds w~as m~dc. The [=unds a~c pledgcd as additi~~nal security for the wms secured
by this \tortgage.
If the amount of the Funds held by Lender. tugethcr with ~hc future monthly installments of Funds payable prior to
the due dates of taxes, assessments, insuranrc premiums and gruund rents, shall excced the amount reyuircd w pa)~ saiJ taxes,
assessments, insurance premiums and gn~und rentc as they fall du~, such excess shall be, at Borrower's option, either
prompdy rcpaid to Borro~~•er or credited to Borrower on monthly installments of Funds. IE the amount of the Funds
held by Lender ~hall nut be sutTicient to pay taxes, assessm~nts, insurancc prcraiums anJ ground rents as they fall due,
Borrower shall pay to l.ender any amoum necessary to makc up the defici~ncy within 30 Jays from the date notice is mailed
by Lender ta Borrowcr rcyuesling pa~~ment thercoi.
Upon payment in full of all sums securcd h~• this I1lurtgagr. Lend~r shall promptly refund to Borr~~H~er :my Funds
held by LcnJer. If :inder paragraph I~t hereo( thc Propert~• .~~Id or thc Propcrt} is otherwicc arq~ured by l.cndcr, I.enJer
shall apply, no latcr than immediatrl}• prior ta thc sale uf thc Pro~x:rty or its acyuisition b~~ Lender, any Funds held by
Lender at thc timc of appliration as a creJit against thc sums ticcurcd b~~ this ~fortgagc.
3. ~Applicalion of Pay~menls. Unle~c applirahle la~• prc~~•idrs other.vi,e. all payments recei~•ed b}~ l.ender un~er the
Note and paragraph. 1 and 2 hcrcuf shall M; appticd b~• I.rndrr Bnt in pa~mrnt ot amounts pa~•able to L~nder by Borrowcr
under paragcaph ' h~re.~f, then to imerr.t papable ~~n the tiutc. then tu the principal af the Note, and thcn to interest and -
principal un any Fwure Advances.
4. CharRes; Liens. B~~rn?~~rr ~hall pe)~ aU ta~cti, a~~c~smrnts and ~~ther ~hargcs, fine. and im~x~+itiuns attnbutahle to
the Property ~•hich ma)~ attain a priority ~~ver this \lurlgage, and Ieasch~~td pa)•mcnts ur Fround r~nts. if an~•, in the manner
provide.~ under paragraph 2 hereof or, i( n~~t paid in such manncr, hy Borrow•er making payment, ~~hen due, directl)~ to the
payee thcrcof. Borrower shall prompN~• furnish to Len~ter all noticrs of amounts due under this paragraph, ~nd in the event •
Borro~~er sh~ll n~ake pa~~ment d~rec~h•, Horrow•er shall pru~nptl)' iurnish tu Lender receipl~ c~idencing such payments.
Borrower shall promp~l~~ disc.hargc any licn µhich has priorit<< <~.•cr this ~lortgage: pru~•i~led, th~t Borroa~;r shall not bc
required tu di~charge an)• .uch lirn w long as Borro~er shall agr~c in ~rrting to the pa}'ment of the .~bligatiun secuted by
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1Utfi iit;ll Iil 3 iiidfliKi a~~ci~iau~c i~: f_C:ifU~i. C~f ~~~.i~i Kih~u idfi~{ ~Gi~i~'~i i:s~.+: aca,a. us. a.. .
legal procccding~. ~~hich operate to prevent thc enfi~rccment of thr I~cn or forfeiturc of the f'mperty <~r .any parl thereof.
5. Hazard Insurance. l3orrow.:r shall ~:cep Ihe ~m~+rv.ement~ ne~~~ r~i.tinr or her~after crrcted on the Pra~xrty ~nwred
.?gainst !uss hy fir~. hazardti includcd ~vithin the term "~~tendeJ ru~rrage~ . and such other hatards a~ l.end~r ma}• r~yuire _
I an~1 :n such am~~unts an~l for surh prri~xlc a~ Lcnder ma}~ r~yuirc: pr,widcd, that Lrndcr ~hall not reyuirc that thc amvunt of
i such ro~~~rat~ ecr~ed tha~ amouM of ~~~~erage reyuired ~a) th~ ,um, •rrured h~• this h1c?rt¢:~ge.
~ The ~nsurance c:~rner providing thc insur•rnce sh:+ll be rhosrn b~• Borru~.er subject to appre~val M• Lender, provided,
~ that surh appro~•al ~hall not b~ unrea,anabl~• withheld. r111 premiumc on insu~ance poticies shall he paid ~n the manner
provide~l un~irr paragr~ph 2 herco( or. ~f not paid in su:h manner, b)• Borrower making payment. when due. dirccU}• to the
in~urance ~arncr.
All insuran~c poticieti and ren~.~als thcrcof shall tx in form ;~:cr~+~ablc to I.cn.ltr and ;hall inrlude :tan.lard mortgagc
~lau~e in fa~~.~r uf :~~d in_form a~cepi.+hle tu l.cnder. L~ndcr >hall h.+ve the right tu h~~1d th~ poli:ics and rLne~~als therec~f.
and Borro~~cr ~hali promptlv furnish to 1_ender all rcncw•al notices and all receipts of paid premium~. In the event of loss.
Bc,;ruwer lhall gi~c prompt notirc to thc ~nsur~n~e carrirr ~nd Lcndcr. LenJrr ma~ makc pror( of loss if not made promptl~- -
by Burma~ce. .
l;ntcss I.cndcr and Borrow•cr otheru r c aKrcc in writing. insuranre procccds shall be applicd to retitoration or repair of
the Propertq dama~ed, pro~iJed such re.toration or repair is economicaUy feasible and th~ ~erurity of this Mortgage is
a nnt therebr ~mpaired. If such restorat~on or repair is n~~t eron.~micalh feasiMe or ~f the securit~~ of this Mortg:~ge would
~ be ~mpa~red, the insurance pr~xeed~ ,hall be applie~i t~~ the sums s~:cure.i by this Mortgage. ~~ith the excess, if any, paid
~ tu Borrower. If the Pmpefi)' IS :Illandoned h~ Burr.~wer. ~r if Borrower tails to respoRd to Lender within 30 da)~s from the
J:~te notice ~s n~ailed by Lender to Borr.:w•er that the insurance carnrr otTers t~ settle a claim fvr insurance benefits, l.ender
~ i, :wthorized to collect and appl} the insurance proceed~ at LenJer's ~ption either to restoratiun or repair of the Prop~:rt}•
ur to the sums s«urcd h~ this ~tortgagc.
~ l:nless I endcr and Bormwer o~hen?i~c agrec m writing. an~ surh a~.piiration of pr~n~•eds to pnncipal Shall not extend
~~r postponc thc due d~te of the monthh~ installmentc referrcd a~ in paragraph+ I and hereof or change Ihe amount of
~ such instalirnen~s. It unJer paragraph 18 hcreof the Property is aey~:ir~d b~• 1_ender. all right, title and interest of Borrower
~ ~n and to am ~nsurenie policies a~~! in and to th~ proceeds thereot resul~ing irom damage to the Property prior to the sale -
~ or acyui,ition shall pass to 1_ender to the extent of the wms secured b~ this ~tortuagc immediatei}~ prior to Such sale or
~ acyuisition.
~ 6. Presena~ion and ~faintenance of Propert~: l.ezsehulds: ('ondominiums; Planned l;nit De~•elopments. Borrow~er
shall keep thc Properry in good repair and shall not commit wauc or pcrmit impairment or deterioration of the Propert)•
? and shall comply wi~h Ihe pruvisions of any tease if thu Mortgage iti un a Icasehuld. If this ;~tortgage is on a unit in a ~
- condomini?~m or a plal~ned unit developmer.t, Borrower ,hall Exrform al! uf Born+«~er's obligations under the declaration
= or covenants crr:~ting or go~•ermng the condominium or ~lanned unit devtlapment, the by-laws and regulations of the
~ conJominium or planned unit Jevelopment, and constiturnt documents. If a con~ominium or planned unit development
nJer is executed by Borrower and re~orded together w~th thi~ Mortgage, thc covenants and agreements ot such rider
= shall be incorporared into and shrll amend and supplement the co~enams anJ agreements of th~s Mortgage as i( the rider
3 were a part hereof.
7. Proteclion of Lenders Security. (f Borrow~er fails ~o ~rt~~rm the covenants and agreements contained in this
Mortgage, ur if an}• action ar proceeding ic commenccd Hh~ch materially afiects Lender s interest in the Property.
inctuding, but not lim~ted to. eminent domain. incohency, code enf~~rcemem, or arrangements or proceedings involving a
bank; upt or decedent, then Lcnder at Lender'~ option, upon notice to Borrower, ma~~ make such apnc:arances, distwrse such
sumc and take such :ktion ~s is necestiar}~ to protect Lender'c interest, includ~ng. but not limiled to, disbursement of
~ reasonabfe attorney'3 f~es and entry up.m the Propert}~ tu make repairs. If Lcnder required mortgage in;urance as a
~w,
~ conJition of making th~ loan secured b~~ this \lortgage. BurmKrr shall pay the premiumc required to maintain suc
insurance in etTect until such dme as the re.~:~irement for wch insurance terminates in acwrdance w~ith Borr.~wer s and
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