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UNIfORM COVENANTS. Borrower and Lendet covenant and agree as foqows:
1. l~nae~t of triociNl ~i laterest. Borrower shxl) prumptl~• pay Nh~n due the principal of and interest un the
~ndebtedneu evidenced by the Nae. prepayment and late charge~ a. provided in the No~e. and the principal of and intercst
o~ soy Future Advances securod by this Mortgage.
F1nds tor Tuss s~i I~pnsce. Subjecl to appli~~hlc law~ ~?r ta a writlen waiver by Lender. Borrower shall pay
to [.ender oo the day monthly installments of principal anJ ~n~crc~~ rrr payable unJer the Note, until the Note is paid in tull.
s sum (hereip "Fut~s") eqwl to one-twelfth of Ihe ycarl~ ~a~~~ anJ assessments which may attain priority over this
Mo~age, and grouod rents on the Prope~ty, if any, plus one-twelf~h at yea~ly premium installments for hazard insurance.
plus o~e-twelfth oE yearly premium inslallmen~s (or mortgage insurancc, if any, all as reasonably cstimated inilially and from
time to time by Lender on the basis of assescmcnts anJ hills and rea~onabk atimata thereof.
71ie Funds shall be held in an instituti~.n the depos~t. or accoums of which are insurcd or guannteecf by a Federal or
state agtncy (iocluding Lender if Lcnde~ is such an institulionl. I.ender ahall apply the Funds to pay said taxa, assessments.
~ insurance premiums and ground rcnts. 1-ender may not charge for so halding and ap~+lying ~he Fi~nJc. analyzing caid acc~unt.
or verifying and compiling said asscssments and bill~, unleu Lendcr pays Borrower interest on the Funds and applicable law .
permits Lender to make such a charge. Borrower and IxnJer may agree in writing at the time of execution ot this
Mortgage that interat on the Funds shatl be paid to Borrov?er, and unless such agreement is made or applicable law
roqui;es such interest to be paid. Lender shall not be required ta pay Borrower any interest or earnings on the Funds. I_ender
shall give to Borrower~ witt~out charge, an annual accounting of the Funcis showing credits and debits to the Funds and the
purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
by this Mortgage. . -
If the amount of tbe Fuads held by Lender, togethcr with the futurc monthly installments of Funds payable prior to
the due dates of taxes. auessments. insurance premiums and ground rents, shall exceed the amount required to pay said taxa,
a:sasanents, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower s option, either
promptly repaid to Borrower or crodited to Borrower o~ monthly installments of Funds. If the amount of the Funds
!nW by Ltnder shal! not be sufScieat to pay tues, assessments, insurance premiums anJ ground rcnts as they fall due.
Bormwer shall pay to Lender any amount nocessary to make up the deficiency within 30 days trom the dato notice is mailed
by I.ender to Borrower requesting payment thereof.
Upon paymeaf in full of all sums secured by this Mortgage, l.endcr shall promptly refund to Borrower any Funds
held by Lender. If under paragraph 18 hereof the Property i~ sold or the Property is othenvise acquired by Lender, [.ender
sball apply, no later than immediately prior to the sale of the Property or its acquisition by l.ender. any Funds held by
Lender at the time of application as a credit against the sums secured by this Mortgage.
3. Application oE Paymeats. Unless applicable law provides otherwise. all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by I.ender first in payment of amounts payable to 1_ender by Borrower
uader paragraph 2 heroof. then to interest payable on the Note, then to thc principat of the Note, and then to interest and
priacipd on any Future Advances.
4. C6arze~ Lkas. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents. if any, in the manner
provided undcr paragraph 2 hereof or, if not paid in such manner, by Borrorver making payment, wha~ due. dirocdy to the
ptyee t6ereof. Borrower sball promptly furnish to Lencier all notices of amounts due under this paragraph, and in the eveat
Botrower shall ~nake payment directly. Borrower shaU promptly furnish to l.ender receipts evidencing such payments.
Borrower shall pranptly discharge any lien which has priority ovet this Mortgage; provided, that Borrower shall not be
required to discharge any such lien so long as Borrower shall agree in writing to the payment of t6e obligation secured by
such tien i~ a manner acceptable to l.ender, or shall in good faith contrs~ such lien by, or defenJ enforcement of such lien in.
legal proceedings which operate to preveat the enforcement of the lien or forfeiture of the Propeny or any pan thereof.
S. H~zsrd I~nce. Borrower shall kcep the improvements now• existing or hereafter erected on the Property insured
agaentt loss by 6ce, hazards included within the term "extended coverage", and such other hazards as l.ender may require
and ia such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
'Ibe insurance carrier providing the iasurance shall be chosen by Bonower subject to approval by Lender, provided.
that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
pmvided under paragraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due, directly to the
~ insurance carrier. . -
All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standafd mortgage
E clause in favor of and in form acceptable to L.ender. Lender shall have the right to hold the policies and renewals thereof, ~
F and Bonowtr shall promptly furnish to Lender all renewa! notices and a11 receipts of paid premi~~ms. In the event of loss.
f Borrower shall.give prompt notice tcs the insurance carrier and Lender. Lender may. make proof of loss if not made promptly
~ by Borrower:
~ Unless Lender and Borrower otherwise agree. in writing, insurance proceeds shall be applied to restoration or repair of
the Property 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 economically feasible or if the security of this Mortgage would
be impaired, the insurance procoeds shall be applied to the sums secured by this Mortgage: with the exccss, if any, paid
to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by Lender to Borrower that the insurance carrier ofTers to settle a claim for insurance benefits, Ixnder
is authorized to collect and apply the insurance procceds ~at Lcnder's option either to restoration or repa~r of 1he Propen~~
or to the sums secured by this Mortgage.
Unlas Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
- suc6 installmepts. If under puagraph 18 hereof the Property is acquired by Leoder, all right. title and interest of Borrower
in and to any insuraace policies and in and to the proceeds thereof resulting from damage to the Property prior to thc sale
or acquisition shall pass to L.ender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
6. lrcservatjoo aod Mainteaance of Property; Leaseholds; Condominiums; Planned Unit Derebpmcnts. Borrow~cr
~ shall kcep the Property in good repait and shall not com~it waste or permit impairment or deterioration of the Property
aud shall comply with the provisioos 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 planned unit development, the by-laws and regulations of the
~ condominium or planned unit development, and constituent documents. tf a condominium ot planned unit development
rider is executed by Bonower 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 rider ~
were a part hercof.
7, Protectio~ of Leode~s Security. If Borrower fails to perform the covenants and agreements contained in ihis
Mortgage, or if any action or proceeding is commenceJ which materially afTects Lender's interest in the Propeny, '
.ineluding, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then Lender at Leoder's option, upon notice to Borrower, may make such appearances. disburse such ~
sums and take such action as is necessarY to protect Lender's mterest, including, but not limited to, disbursement of t
rea~onsbk attorney's fees and entry upon the Property to make repairs_ ~If Lcnder required mortgage insurance as a ;
. condition of making the loan socured by this Mortgage, Borrower shall pay the premiums required to maintain such ~
inwrance in ef~ect until such titne az the requiretnent for such insurance terminates in accordance with Borrower's and
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