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UNIt:ORM WverrAN7a. BOrroirer and Lender covenant and {
ajrQO as foltorvs:
>l. ls~tweat et >rrMct~al ass Iatuest. BOrrowet shalt pror~tptly pay when due the principal Of sad intergt on the }
indebtedness evldegood Dy the Note, ptepeyaaettt and Labe charges. as lrtdvliled f6 the ~Note,,and the principal of and interest
~oa nay Futurt# Advances setwed by this Marge. '
1 lhrstia htr'lltans asrtl Irwesrwee. 9ubjeot to applicable law or to a vi?rlttat waiver by Lead. Botzower shall pay
co Lander on the day monthly iaatalhaanta cif principal and interest are payable under the Neu, until the Note is paid is full.
a stun (hes+ein "Ftrrtd~'q egtul ba oae•twelfth of the ywtrly axaa and assessnMOnts wlticb may attain Priority over this .
Mortgage. and ground Tanta oa the Property, if any, phis one•twalhh of, premium inetallaaenta Eor hazard insurance.
plus one-twelfth of yearly premium intaaltnseab, for mortgase insurance. if atty. ~aU as reasonably estiaaated initially sand from
time to titre by Lender ott,the bash of assessments and bilb and rea:oaabk estimates thereof. ~ ;
The Ftmds shall be held is an innitution the deposits or accounb of whkb era it>:und or guaranteed by a Federal a
state agency (including Lender if Calder b such an imtitutiat). Leader shall apply the Fonda to pay said taxed. assasrtrenn, ~
iasurano0 ptwniums and ground tent:. Lander may tat chugs for so holding and applying the Fund:, analyzing said a000UtIt,
or verifying and compiling said asfeumeab and bi[b, uatw Lender pays Borrower interest on the Funds sad applicable law
permits Lender to m~tlce such a charge. Borrower and Calder may agree in writing at the time of exetartion of this
MorRpge tluit utteresti on ttie Footle aball be paid to .Borrower, and unless such agreeraeat n made or appCtcabb law
requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings oo the Funds. Deader
shall give to Borrower, without cbargt4 an annual aooountiag of the Funds showing credits and debits' to the Fuo~ and the
purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sum: secured
by this Mortgage.
If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
the due dates of teas:, assessments, insurance premiums sad ground rents. shall exoeod 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 r
promptly repaid to Borrower a credited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Lender shall trot ba su~cieat to pay taxes, assessments. insurance premiums and ground rents as they felt due,
Borrower shall pay to,Lender nay amount necessary to make up the deficiency within 30 days from the date notice is mailed -
by Lender to Borrower requesting payment thereof.
Upon i'xY~m in full of all sums secured by this Mortgage, Leader shall promptly refund to Borrower any Footle
held by Lender. _ If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Leader, Lender
shat! apply, no Later than immediately prior to the sale of the Property or ill acquisition by Lender, nay Funds held by
Leader at the time of spplicatiar as a credit against the sums secured by this Mortgage.
3. Appiicatiow of Pap~asestb. Unless applicable law provides otherwise. all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by Leader first in payment of amounts payable to Lender by Borrower j
under paragraph 2 hereof, then to interest payable oa the Note. then to the principal of the Note, and then to interest and
principal on nay Future Advances.
4. Ciarger 1iJerss. Borrower shall pay all taxes, assessments and other charges, Hoes and impositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. in the man>xr
provided under paragraph 2 hereof or. if not paid in such manner. by Borrower malting payment, when due, directly so the
Payee tlxreof. Borrower shelf promptly furnish to Lender all noticet of amounts due under this
Borrower shall make rat direct) , Borrower shall pa~Ph. and in ~ event
Payer Y Promptly furnish to Lender receipts evidencing such payments. {
Borrower shall promptly discharge any lien which has priority over the Mortgage; provided, that Borrower shall not be
required to dischwrge 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 corrtat-such lien by, or defend enforttmart of such lien in,
legal proceedings which operate to prevent the eaforaxrrdtt of the liet?- or forfeiture of the Property or any part thereof.
S• Hsasrd Iewrance. Borrmwer shall keep.the itnprovemeats now exi=ting or hereafter erected on the Property insured _
against loss by fire, hazards included within the-term "ext~irded:coversse",;aad such other hazards as Lender may require
and in such amounts and for such periods as Lender may r+oquire; provided, that Lender shall not require that the amount of
such coverage extend that amount of coverage required to pay the sums secured by this Mortgage.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided,
that such approval shall not He unreasonably withheld. All premiums on insurance policies shat! be paid in fire meaner
provided under paragraph 2 hereof or, if-not paid in such manner. by Borrower rr>sking payment, when dun, directly to tlx
insurance carrier.
All ursnranoe policies and renewals thereof shall be in [orm aceeptabk to Lender and shag include a standard Mortgage
clause in favor of sad in form acoeptabk to Leader. Lender shall have tlx right to lald 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 bss,
Borrower shall give prompt notice to the imurance 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 shalt be applied to restoration or repair of
the Property damaged, provided auc6 ratontion or repair is economically feaaibk and the security of this Mortgsge is
not thereby unpaired. If such restoration or repair is not economically feasible or if tlx 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. U the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by Leader to Borrower that the insurance carrier offers to setik a claim for i,uuranrx benefits, bender
as sutlarrzaf to collet sad apply the insurance. procxals at Lender's option either to restoration or repair of the Property
or to the sums secured by this Mortgage.
Unless Lender sad Borrower otherwise agree in writing, any such application of procads to principal shall not extend
or postpone fix due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such irr:tallments. If under paragraph 18 hereof the Property is acquired by Leader, all right, title sad interest of Bortrnver
in sad to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
or acquisition shall pass to Leader to the extent of the sums secured by this Mortgage immediately prior to strcb•sale or
acquisition.
f. l~suecrvatlon asri M:itenaecs of lhoperty; I.easeboldsy Coudosnidnmr Planned Utsit 1Dev
~l keep the Property in good repair and shalt not commit waste or t im d°pmenls'• Borrower
shall nom wild the PaQn pairment or deterioration. of the Property
ply provisions of any kale if this Mortgage is on a lea:elrold. If this Mortgage b on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrower's obligations uncle: 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. If a condominium or planned unit development
- rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
shall be incorporated into and shalt amend and supplement tbe.covenants and agreements of this Mortgage es if the rider
were a part hereof.
7. 1Ps+etsrtb¦ of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if nay action or proceeding is commenced which materially affects Lender's interest in the Property.
including. but not Waited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent. ttxa Lender at Leader's option, upon notice to Borrower, may make such appearances, dabutse such
sums and take sueb action as is necessary to protect Lender's interest, including, but not limited to, disbursement of
reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
coaditioa of making the loan secured by this Mortgage, Borrower shall pay the premiums requited to maintain such
insurarree in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and.
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