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UNIFORM COVIHNANT3. Borrower and Lender covenant and agree u follows:
Pgtwcot of hflaelptd atsi INerat. Borrower shall promptly pay when due the principal of and interest on the
rndebtedttess evidenced by the Note, prcpaytnent and late charges ac provided in tl>r N.;tc.:r+.i tilt prirtcipa! of and interest
on any Future Advances secured by this Mortgage.
2. FtiNs for Tara runts irrrruee. Subjeet to applicable law or to a written waiver by Lender. Borrower shall pay
to Lender on the day monthly installments of principal and intcrcct arc payable under the Note, until the Note is paid in full,
a sum (herein "Funds") equal to one-twelfth of the yearly ta>,cs and assessments which may attain priority over this
Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
plus one-twelfth of yearly premium installments for mortgage iiisiirancc, if any, all as reasonably estimated initially and from
time to tittle by Ltrrder on the buts of assessments and hills and reasonable estimates thereof.
The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal of
state agency (including Lender if Lender is such an institution). 1_ender shall apply the Funds to pay said taxes, assessments,
insurance premiums and ground rents- [.ender may not charge for so holding and applying the Fiindc. analyzing xaid account,
or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
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Mortgage that interest on the Funds shallYbe paid to Borrower, and unless such agrcement is made or applicable law
requires such interut to be paid, Lender shall not be required to pay Borrower any interest Or earnings on the Funds. lender
shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
by this Mortgage.
If the amount of thti Funds held by Lender, together with the future monthly installments of Funds payable prior to
the due dates of taxes, assessments. insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
assessments, insurance premiums and ground rents as they 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 amount of the Funds
held by'Leader shall not be sufficient to pay toes, assessments, insurance premiums and ground rents u they fall due,
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Leader to Borrower requesting payment thereof. .
Upon payment in full of all sutra rtecured by this Mortgage, lender shall promptly refund to Borrower any Funds
held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
Leader at the time of application as a credit against the sums secured by this Mortgage.
3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
principal on any Future Advances.
Cbsrges; Liens. Borrower shall pay all taxes. assessments and other charges, fines and impositions attributable to
the Property which may attain a priority over this lllortgage, and leasehold payments or ground rents, if any, in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event ~ -
Borro~xer,shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
Borrower shall promptly discharge any lien which has priority over 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 the obligation secured by
such lien in a manner acceptable to Lender, or shall in good faith contest such lien hy, or defend enforcement of such lien in,
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against lose by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
and in such amounts and for such periods as Lender may require; provided, ;hat Lender shall not require that the amount of -
such coverage exceed that amount of coverage required to pay the Sums secured Eby this Mortgage. -
! The insurance carrier providing the insurance shall be chosen by Borrower 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
s provided 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 standard mortgage
clause in favor of and in form acceptable to lender. Lender shall have the right to hold the policies and renewals thereof,
~ and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,
Borrower shrill give prompt notice to the insurance earner and Lender. 1-ender may make proof of loss if not made promptly
~ by Borrower. -
Unless [.ender and Borrower otherwise agree in writing, insurance proceeds shall-be applied to restoration or repair of
f the Propert} damaged, provided such restoration or repair is economically feasible and the Security of this Mortgage i5
~ not thereb}• impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would
be impaired. the insurance proceeds shall be applied to the sums secured by this Mortgage. with the excess, if any, paid
to Borrower If the Propert}• is abandoned by Borrower, or it Borrower fails to respond to Lender within 30 days from the
date notice is mailed by Lender to Borrower that the insurance carrier otters to settle a claim for insurance benefits, Lender
is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
~ or to the sums secured by this Mortgage.
Unless [.ender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthh• installments referred to in paragraphs I and 2 hereof or change the amount of
such installments. If under paragraph 18 hereof the Proferty is acywred by Lender, all right, title and interest of Borrower
in and to am• Insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
or acquisition shall pass to Lender to the extent of the sums secured by this Alprtgage immediately prior to such sale or
acquisition.
6. Presen~stion and 1laintenance of Property: Leaseholds; Condominiums; Planned Unit Developments. Borrower
- shall keep the Property in good repair and shall not commit ysaste or permit unpairment or deterioration of the Property
and shall comply with the provisions of any lease if this Mortgage tin a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrower's oaligations under the declarati+~n
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 dcscuments. If a condominium or planned amt development
nder is executed by Borrower and recorded together with this Aortgage, the covenants and agreements of such rider
shall be incorporated into and shall amend and wpplement the covenants anJ agreements of this Mortgage as if the nder
were a part hereof.
7. Protection of [.enders Security. If Bonower fads ti~ perform the covenants and agreements contained in this
Mortgage, or if any action ur prckeeding is camrnenced which materiall}• affects Lender's interest in the Propert}.
including. but n~H broiled to. eminent dom:nn. ir~sol~cncs. c+xle enforccrnent. +~r arrangements ur pttkccdings invoking a
banknipt or decedent. then Lender at Lender's option, ulx.n notice to Borrower, ma} make such appearances, disburse such
sums and take such action as is necessar} to protect Lender': interest. including. but not limited to. disbursement i~f
reasonable auorne}'s fees and entry upon the Pmpert}~ to make repairs. If Lender reyuire.l mortgage insurance as a
cundiUun :i( nr.+king the loan secured h} this ~lurtgage. Bi~rr~~wcr shall pa}• the premiums required to maintain wch
insurance in effect until such time as the reymrenient f+~r .tick insurance termri:rtes rn .ic~ordance with Borr~~wer's and
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