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UNIFORM COVFNANTS. Barrower anJ Lcnder covenant and agrce as follows:
1. PaYmeat ot Pdaclpai aad Interat. Borrower shall promptly Psy Nfic~ due thc principal oi and interest on the
inJebtedr?ess evidenceJ by the Note. prepayment and late charges as provided in the Note. :?nd the principal of and interes~
on any Future Advances secured by this Mortgase.
Z. Foads [or Tues and lnsursnee. Su6ject to applicable law or to a written waiver by Lender, Borrower shall pay
to [.ender on the day monthly installments of principal aod intcrest are payable unde~ the Note, until the Note is paid in full.
a aum (hcrcin "Funds") equal to one-twel[th of the yearly taxes and assessmcnts which may a~tain priority over this
Mortgage, and grouad rents on the Property, if any, plus one-twclf~h of yearly prrmium installmcnts for hazard insurance.
plus one-twelf~h of yea~l~ premium installments for mortgage insurancc, if aay, all as reasonably es~imated initially and from.
time to lime by I_cnder on the basis of assessmcnts and hilts and reasonable estimates thereof.
The Furtds shaU be held in an institution ~he depc~sits or accounts of which are insured o~ guaranteed by a Federal or
state agency (including Lender if Lender i~ such an institution). l.ender shall apply the Funds to pay said taxes, assessments,
insurance premiums aod graund rents. I:ender may not charge for sa holding an~ applying the F~nds, anal~•zing said account,
~ or verifying and compiling said asses~ments and bills, unless Lender pa~s Borrower interest on the Funds and applicable law .
permits Lencler to make such a chargc;. Borrowe~ and l.enJer may agree i~ writing at the tinie ot zxccution oi this
Mortgage that interest an the Funds shall be paid to Borrowe~, and unless such agrcement is made or applicable law
requira such imerest to be paid, Lender shall not be reyuired to pay Borrower any interest or eantings c~n the Funds. I_ender ~
shall gi~e to Borrower, without chargc, an an~ual accounting of the Funds showing credits anJ debits to the Funds and the
purpose for which each debit to the Funds was made. l~he Funds are pledged as additional securiry for ~he sums secured
by this Mortgage. ~
if ttie amount of the Funds held by Lender, together with the future manthly installments of Funds payable prior to ;
the due dates of tares, assessments, insarance pmmiums and ground rents, shall exceed the amount requirrd to pay said taxes.
assessmentc, insurance premiums and ground rents as the}• fall due, such excess shall be, at Borrower s option, either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amuunt of thc Funds
held by Lendcr shall not bc sut~'icient to pay taxes, assessmcnts. insurancc prer.~iums and ground rents as thcy fall due,
Borrower shall pay to Lender any amount necessar~ to make uu the dcficiency within 30 da~s [rom ~he date notice is mailed
by. Lender to Borrowcr reyuesting paymcnt thercof.
Upon payment in full of all sums secured by this Mortgagc, t_cndcr shalt promptly refund to [iorrower any Funds
held by 1_enJer. If under paragraph 1S hcrcof the Propcrty is ti.~ld or thc Property is othenvise acquin:d bp l.ender, Lender
shall apply, no later than immediately° prior to the sale of the ProEx:rty or its ucquisition by I.ender, any Funds held by
Lendcr at thc Iimc uf appliration as a crcJit agai~st thc sums sccurcd by this Mortgagc.
3. Applicalfon of Payments. Unless applicable law• provi~les ~therwix, all payments reccn•cd b~~ Lcnder undcr the
Notc and paragraph~ t and 2 hercof shall bc applicd b~• Lendcr first in pa~•mcnt ot amounts pa}:+ble to I.cnJer by Borrower
under paragraph 2 hereof, then tu interest payablc on the ~lo~e, then to thc principal o! the Nnte, and thcn tu interest and
principal on any Future Advances.
3. CharRes; Liens. Borro~+cr shall pa~• all taxes, ~sscssmcnts and othcr chargcs. finc~ an.i impusitii~ns attributable to
the Property w~hich may attain a priority over thi~ Mortgage, and Ieasehold payments or ground rcnts, i( any, in the manner
pruvided ~~ndcr paragraph ? hcrcof or, if not paid in such manner, by Borrower making pa}~ment, when duc, dirccdy to fhe
payee thcr~of. Borrow•er shal! promptly furnish to Lender all noticcs of amounts Jue under this paragraph, and in the event
Borrower .hall makc pa~•ment direcUy, Borrower shall promptly fumish to I_enJer receipts evidencing such pa~•ments.
Borrower ~hall promp~ly dischargc anp lien Hhich has prionty over this Mortgage; provided. ~h:+t Borrower shall noi be
r~quired to Jiu;harge any ,uch lien w long as Borrower shall agree in w•riting to the pa~•ment of thc obligation secured by
such lien in a manner accep~able to I.ender, or shall in gocxi faith contest such lien by, or defend enforcement of such lien in,
legal prcKCCdings which opcrate to prcvent thc cnfurcemcnt of thc hen or forfciturc of the Propertv or any part thereof.
S. Hazard Inwrance, l3orroNer shall kc~;p thc ~mprovements noH c~is~ing or hercafter crccted on the Pr.~pert) insured
.~gainst lo.. hy fire. hatards includcd w ithin the term "c~tendeJ crnrraKc". and auch other harards as L~ndcr may reyuire
and in such amuunt; and fc~r such periuds as Lendcr may reyuirc: pruvide~, that Lender shall not require that the amount of
such ~ov~ragc c~rc~d tha~ amount of co~•crage rcquircd t~ ray thc wm~ ucurcd b~• this ~lortgagc.
The ~nsurance r.~rrier providing the insurance shall be chosen by Borro~~er subject to appro~~al by Lender; provided,
that such approval .hall not bc unreasonahly withheld. All prcmi«ms un insurance po'icies shall tx: paid in the manner
pruvided unJcr paragraph 2 hereof ur. ~f not.paid,in such manner, by Borrower making payment, when due, directly to the
i ~nsurance carrier.
i Alt insurance policies and reneH als thereof shall tx in forrn ac:ept:~blc to Lendcr and shall includ~ a~tanelard mortgage
i clause in fa~•or ~f and in form acreptable to Lender. Lender shall havc the right to hold the policies and rene~~ak thercof,
and Borro~~•er shall promptl~ furnish to i_ender all renew~al notices and all receipts of paid premiumc_ In the c~•~nt ot 1oss,
~ Borrower shall gi~~e pmmpt notice t~• the ~nsur:~n.e carrier and 1_ender. Lender ma}• make prcx?f of loss if not made prumpth•
! Korrower.
~ Unless LenJer and Borrower othcnvise agree in ~~riting, insurance proceeds shall be applied to restoration or repair of
~ the Property damaged. pr~vided su:h restoration ur repair is economically feasible and the security of this Mortgage is
~ nat thereb}~ imrai~ed. I[ such restoratiun ur repair is nut economicall~• (casible or if the security of this ~fortg~ge would
~ be impaired, the insurance proceeds shall be applied to the sums secureJ by this Mortgage. with the excess, if any, paid
~ :o Borrewcr. U the Properh• is abandoned hy Rormwer, or it Borrower fails to respond to Lender within 30 days from the
's Jate notice is mailed by Lender to Borrower that the insurance carrier o(iers to settle a claim for insurance benefits, Lender
~ i~ authnrized to collect and apply the in~urance proceeJs at Lender's optien either to restoration or repair of the Property
~ or :o the sums ~ecured by this Atortgage.
~ Untess I.ender and Borruwer otherwisr :lgree in tinting. an}~ such application of procceds•to principal shall not extend
€ ~~r postpune thc due date of the munthh• inatallments referrcd t~~ in paragraphs 1 and 2 hcreof or change thc amount of
~ ~uch i~st~lfinents. If under paragraph I8 hereof the Property is acyuired by~ Lendcr, all right, title and interest of Borrower
~ in and to am insuranre policies and in and to the proceecis thereof r~5ulting trom damage to the Property prior to the sale
~ or acyuisition shall pass to Lender to the e~tent of the sums secureci by thi~ Mortgagc immediately prior to such sale or
~ acquisition.
~ 6. Preser~alion aod ~taintenance of Property: Leasehulds; ('ondominiums; Planned Unit De~•elopments. Borrou•cr
~ shall keep thc Propcrty in good repair and shaU not commit w•astc or pcrmit impairment or detcrioration of the Property
~ and shall comply with the provisions of any lease i~ th~s ;1lortgage is un a lcaschold. If this ~lortgage is on a unit in a
- condominium or a planned unit development, BorroN•er shall perform all uf Borrower's obligations under the declaration
; or covenants~crea!mg or governing the condominium or planned unit de~etopment, the by-laws and regulations of the
~~on lrmin~un~ or planneJ unit develoament, and constituent documents. If a condominium or planned unit development
ti riJer is executed by Borrower and rccorded tugether ~ith thi~ Meirtgage, th~ covenants and agreements of such rider
% ~hall t~e incorporated ~nto and shall amend and supplement.the covenants and agreements of this Mottgage as if the riJer _
t wcre a part hereof. ,
~ 7. Prota~ion of I.ender's Security. If Borrow~er fails to p~:rf~~rm the covenants and agreements contained in this
Mor~gage, or if any acU~m or proceeding is commenceJ whi~ti materiall}• afiects Lender's interest in the Property.
; inrludinF. but not fimited to, eminent domain, insolvency, code enlorcement, or arrangements or proceedings invoh•ing a
~ bani:rupt or decedem. then I_ender at t.ender's option, upon notice to Borrower, ma} make such appearances, disburse such
d sums and take such action as is necessary to pmtect I.ender s in~rrest. induJing, but net limited to, disbursement of
~ reasonablc attomcy's tec~ and entry uEx~n the Propcrty to makc rcpair,. lf Lender reyuired mortgage imurance as a
~ condition ~~f making thc loan su:cured by this Manga~e. Borru~cr shall pay the premiums requireJ to maintain such
~ insurance in etTect until such time as thc requirerient for wch msurance terminatcs in accordanee wrth Borrower's and
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