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UNIFORM COVEN\NTS. BOffl1N'C! and LcnJrr cuvenan~ and agrre as tolluws:
1. Payment of Prlncipd and Inte~esl. Harn+wer shall promplly pay whcn duc thc principal of and interest on thc
indebtedneu evidence.l by the Note, prepaymeot and late cha~ges a. proviJed in the Note, a~d the principal uf and interest
on any Future Advancec secureJ by this Mor~gage.
2. Funds tor Taxes and lasuraace. Subject ta applicable law or to a written waiver by I.ender, Borrower shall pay
to l.ender on ~he day monthly installm~nts of principal and intcrest are payable under the Notc, until the Notc is paid in full,
a sum (herein "Funds") equal to one-tw~lfth ot ~he yearl~~ taxes and axcessments which may 3ttain priority over this
Mortgage, and ground rents on thc Property, if any, plus ane-twelith of yearly premium installments for hazard insurance.
plus one-twelfth of yearly prcmium ins~allmcnts tor mortgage insurance, if any, all as reasonably estimated initially and f~om
time to time by Lcnder on thc basis of assessmcnts and hills and reasonablc atimates thereof.
'i~e Funds shall he held in an institution the depo~its or accounts ot which are insurec! or guaranterel by a Federal or
state agen~y (including Lender i[ LenJer i~ such an institution). I_ender shall apply the Funds to pay said taxes, assessments,
insurance premiums and ground rent~. I.ender ma~• not charge for ~o holding and applyi~g the FunJs, analyTing said account,
ur veri[ying and rnmpiling said asse~sments and hills, unless l.ender pays Borrower i~terest on the Funds and applicable law
permits I_ender to make such a charge. Bo~row~r and I_e~der may agree in writing at ~he time of execution of this
~fortgage that interest on the FunJs shall he paiJ to Borr.~w•er, and unless such agreeme~t is made or applicable law
requires such interest to he paid, 1_ender shall nol bc reyuir~Yl to pay Borrawer any intcrest or earnings on the Funds. I_ender
shall gi~e to Borrower, without charge, an annual aca~unting of the {=unds ~hawing credits and debits ta the Funds and the
purpose for which each debit to the Funds was made. The Funds are pledgeci a~ additiunal security for the sums secured
by thi~ Mortgagc.
lf the amount of the Funds held by LcnJcr, together N•ith the futurc monthly installments of FunJs payablc prior t~
the due dates of iaxes, assessments, insurance premiums :~nd g~ound rents, shall exceed the amount reyuired to pay said taxes,
assessments, insurance premiums and grounJ rents as thcy fall duc, such excets shall be, at Borrower's option, either
promptly repaid ro Borrower or creditcd to Borrower on monthly installmcnts of Funds. If the amount o( thc Funds
held by Lendcr shall not be sufficient to pay taxes, assessments, insur:~nce premiums and ground rents as they fall due,
Burrower shall pay ta I_ender any amaunt necessary to make up the deficienc~~ within 30 Jays from the date notice is mailed
by Lendcr to Borrower requesting paymcnt thercof.
Upon payment in ful) of all sums secured by this I?~ortgage. Lender shall prompdy refund to Borrower any Funds
held by LenJer. 1t under paragraph 1R hercof thc Propcrty is u~ld or ~hc Propcrty rs othenvicc acyuired by I.ender, 1_ender
shall apply, no latcr than immediatcl~• prior to the sale vf the Propcrty or its acyuisition by Lender, any Funds held by
t_ender at the time of application as a creJit againct the sum~ securcd by this htortgage. ,
3. Applicalion of Payments. Unlecc applicahle law proviJes otherwise, all payments re~eived by Lender unJer the
Note and paragraphs I and 2 hereuf shall bc applied by LcnJer first in papment of amounts payable to l.cnder by Borrower
undcr paragraph 2 hereof, then to interest payable on the Note, thcn to thc principal of thc Notc, anJ thcn to intcrest and
principal on any Futurc Advances.
4. Chary;es; Liens. Borrowcr sh:dl pay all t~xes, at~:ssmcnts and othcr charges. fines and imFxisitions attributable to
the Property which may attain a priority over this hlortgage, and leasehold paymcnts or ground rents, if any, in thc manner
provided undcr paragraph 2 hereof or, if not paid in sach manner, by Borrower making payment, when due. Jirectly to the
payee thercof. Borrowcr shall promptly furnish to Lender all notices of amounts duc under this paragraph, and in the event
Borrow•er shall make payment direcUy. Borrowcr shall promptly furnish to I.ender receipts evidencmg such pa~•ments.
BorroWcr shall promptly dixhargc an}• licn Khich has priority ovcr this yfortgage; provi~cd, that Borrowcr shall not be
required to discharge any such lien co long :~s Borrow•er shall ~gne in writing to the payment ot the ~~bligation secured bp
,uch lien in a manner acceptable to Lender, or shall in gcxxl faith conte4t such lien hy, or defend enft~rcement of such lien in,
legal procerdingc v?•hich oper~te to prevent the enforcement uf ~he I~en or forfeiture of the Property or any part thereof.
5. Hazard lnsurance. Borrow~er shall kcep the improvements now~ c~isting or hereafter crec~ed an the Pruperty insured
against loss h~• fi~c. hazards includcd within thc tcrm °c~tcndcJ covcr:?g~'~, anJ surh othcr h~tard~ ac I_cnder map reyuire
.~ml in su~h amounts anJ for surh periods a+ Lcnder ma~• rcyuirc; pr~~vidcd, that I.rn~~r tihall not rcyuirc that thc amount of
,uch rovcrag~ c~rc~d that amuum of co~~cragc rcquircd t~~ F?a~• thr wms ticcured b}- thi~ \torlgagc.
"Il~e insurance carrier providing the insuranre shall be chosen by Borrower subject to approval hy LenJer; provided,
that such appm~~al .hall not be unreasonahly withheld. All premiumc on insurance policies shall tk paid in the manner
provided und~r paragraph 2 hcrcof or, if not p:+id in ~u~h manner, by Borro~~er making payment, whcn due, dircctly to the
insurance carricr. -
All insurancc policies and renewals thereot shall txr in forni aceept~ble to LenJrr and shall include a tita~Jard mc~rtgage
clause in facor c~f and in form acreptable tu Lcnder. Lendcr tihall hace the right tu hold th~ policies and reneHals thereof,
and Borru~~~er shall prompU~~ furnish ro Lender all rcnraal notices anJ :~II receipts of paid pren~ium.. In the e~•ent of loss.
Borruwer ~h:~ll give prampt notice to the insur,~nrc carrirr anJ I.ender. Lendrr m:?y make prcx~f of loss if n«t made prumpd}
' h}• Borrower.
i Unless LenJer and Borrow•er other~•itic agrec in wri~ing, insursnce pnxxeedc shall be applied to resturation or repair of
the Properry damaged, provided such rc~toration or repair is economically feasibl~ and the security of this ~tortgage is
j not thereb~• impaircd. If such re~toratian or repsir is not cconumicall~• (rasihle or if the security of this Alortgage wou1J
~ be impaired, the insurance proceeds .hall be ~pplicJ tc~ the sums securc.l by this Mortgage, wi~h the excess, if any, paid
f to Borrow•cr. If thc Properl}- is .+hand~mcd h~ Barrowcr. or it BorroK~cr fail~ t~ respond to l.endcr within 30 days from the
~ date notice i, mailcd b~~ Lender to Borrowrr that the insurancc rarrirr otiers t~ settle a claim for insurance henefits, Lender
authorizeJ to collect and :~pplp the imuranc~ pn~ceeds at Lcn~er's option either to restoration or repair of the Property
~ .~r to thc wm~ srcureJ by this !lfortgagr.
j Unless 1_endcr and Borrower utherv?icc :igrec in wnting, am• such appliratian ~~f pnxceds to pnrecipal tihall not extend
E ur postponc thc duc Jatc vf thc munthh~ in~tallmcnls rcCcrrcd ti~ in paragraph, 1 an~l 3 hcrcof or changc thc amount of
~ such installments. If unJer paragraph 18 hereof the Propert) is acyuired M Lendcr, all right, title and interest of Borrower
s in and to an~ ~murance ~licies rnJ in anJ tu the pnxeeds thereot resulting fmm damage to the Property prior to the sale
~ or acyui~ition shall pa1~ to Lender to the extent of the sumc secured b} this Mortgage immedialely prior to such sale or
~ acyuisition.
~ 6. Preservalion and ~lainlcnance of Propert}; I.easeholds, ('ondominioms; Planned l;nit Developmenls. Borrow•cr
~ ~hall krep thc Property in go~xl repair and shall not commit wastc ur permit impairment or deterioration of ~he Propert~•
' and sh~ll comply w'ith thc provisions af anp lease if th~s Mor~gag~ i. .~n a IcaschvlJ. If ~his 1~fortg:~g~ is on a unit in a
~unduminium .~r a planned unit ~evcl~~pm~nt, BorroN~er ~h~ll Exrfurm :~II uf Borruwer's ubligations under thr declaratiun
~ or rovcnantti crrating or g~~vcrning th~ condantinium or planncd unit dcvcl~~pmcnt, the b}'-law~ and regulations of thc
~ ~on~ominium or planned unit devclopmem, anJ c~~nstiluent documems. If condominium or planned unit Je~~eli~pment
nJcr iti esecutrd b~• Borrow•er and recorded t~~gether with th~~ Mortgage, the covenants and agreements of wch rider
S ,hall be incorporate~t ~nto •rnd shall amend an~l suppl~ment the covcnants anJ agreem~nts of this Mortgage as if the riJcr
ticrc ~~art hcreof.
F 7. Protection of i.enders Security. I( H~~rr~~wer (:~ilc to Fxrf~•rm ~he covenants an~l a~reements contamed in this
~ :11c.r~gagr. ur if any' artion or prorccJing r~~mmrnrc~i Nhich matcrially atTrcts Lcnder'~ int~rest in thc Propcrtp.
including. but ~u~t Gmitcd tu, cmincnt domain. im~~l~rncy. cudc rN~~r~cmrnt. or arrangcm~nK or pr~~cccdings im•olcing a
{ hankrupt ur dc,r~ent. then 1_ender at Lendcr', opti~~n, upon nonce to Borrowcr. ma) m~ke such ap~xarances. Ji~hunr iurh
~ Sum~ :~nd take such ~cuon .~s i~ ncccs.ary t~~ pri~trct I_cndcr's inlrrest. including, but not limitc~ to. di~burscmcnt ~~f
~ rca~nahlc attomc}~'~ tccs and en~ry uFx~n thc Propcnc to makc r~pain. If Lcndcr rcyuircJ mortgagc in~urancc a
m con~fhic~n uf making thc loan xcureJ b}~ this ~~~~fl~:l{:l'. Bl~ffl~NCf shall pay thc prcmiums rcquireJ t~~ maintain such
; insurance in e(Tect until such tiine ati the reyuirement tor tiurh insuranre tcrminates in aecordanee NIIfI BOffON't'f 5 anJ
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