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UNIFORM COVENANTS. Borrower and lender covenant and agree as follows:
1. ~trnent of PNnclpal ettw Inbrast. Borrower shall promptly pay when due the principal of and interest on the
indebtedness evidenced by the Note, prepayment and late charges as provided in the Nots, and the principal of and interest
on any Future Advances secured by this Mortgage._
Z. Funds fQ~Tttuces and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
to Lender On the dax nnonthlyipstallments of principal and interest are payable under the Note, until the Note is paid in full,
a sum (herein "Fund9'~ -equal tQ one-twelfth of .tie yearly taxes and .assessments which may attain priority over this
Mortgage, and ground rents on the.Property, it any, pjus one-twelilih o1 yearly premium installments for hazard insurance,
plus one•twelhh of yearly premium installments for mortgage insurance. if any, all as reasaonably estimated initially and from
time to time by lender on the basisot assessments and bills and seasonable estimates thereof.
The Funds shalt b@ held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
state agency(including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments, -
insurant:epremiums and ground rents. Lender may not charge for so holding arxi applying the Funds, analyzing said account.
or verifying and compiling said assessments and bills. unless Lender pays Borrower interest on the Funds and applicable law
permits lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
Mortgage that interest on the Funds shalt be paid to Borrower, and unless such agreement is made or applicable law
requires such interest t0 be pa~~r ~ h~tj ~W req u tq pay pq yvQ ~ y tare§~,pr earnings or the Funds. lender
shall give to Borrower, without Ch~~ge; ~~annu8t'd000U~tin~gof the ~iln~-'sh~n~ctedtt3 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.
It the amount of the 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 taxwS.
assessments, ins~r cQ ~~r~~$~~m ound rents as the fall due, such excess shall be, at Borrowers option, either
promptly repaid tb~~ortb4ve3r'~~~~it to Borrower on monthly installments of Funds. If the amount of the Funds
held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they tall due,
Borrower shall pa~tdl'endbt~iiryianfiounttibttet;s~ify.e make up the deficiency within 30 days from the date notice is mailed
by Lender to BorrPyr~:req~iGn~~yner~t~@of_} ~ L' ~
Upon payment _?rti-) (l.pf};~+I ~µ~s ur~. yj s ,Lender shall promptly refund to Borrower any Funds
held by Lender. li ~~y ragtt~d~~i. f . reo11 r ~ bt t e Pro rt is otherwise ac wired b Lender, Lender
shall apply, no lalert ~immedl6t&I ~ fior'to~ eate
off' tl~rb or items acquisition by Lender, an Funds held b
Y Y
Lender at the time bf+ep¢~lic~fidrf >'l~ ft etlu akj3tihet tf>~`sems'stecured by this Mortgage.
3. Appllcatfon of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs t and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
principal on any Future Advances.
4. Char~pes; Liens. Borrower shalt payall taxes, assessments and othercharges, fines arxf impositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold payments or gourxJ rents, it any, in the manner
provided under paragraph 2 hereof or, it not paid in such manner, by Borrower makingpayment, when due, directly to the
payee thereof. Borrower shall promptly tumish to Lender all notices of amountsdue under this paragraph, and. in the event
Borrower shall make payment direFityr Sorrower,$hall~prQ,rrt fly furbish to Lender receipts evidencing such payments.
Borrower shall promptly discharge any lien which F~as ption pver this Mortgage; provided, that Borrower shall not be
required to discharge any such lien so•bng as Borrower. sh~(1 Lee in writing to the payment of the obligation secured by
Such lien in a manneracceptable to tender, orshafl in good (aitf'(i;dnies~su~h lien by, ordefend enforcement otsuch lien in,
legal proceedings which operate ~ prevent the enforcement of the lien or f~rteiture of the Property or any part thereof.
5. Hasant Insurance. Borrower shall keep the irnpro ~rient5 now exfsdAg or hereafter erected on the Property insured
against loss 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 require; provided, that Lender shall not require that the amount of
such coverage ex, that ~~((n!~ount,of coveerage, re4µlired pay )he surp ~eFurEd by this Mortgage.
The ihsurancdter. ptbVitlit~iglhe iRSu~nCe shall bb t-hos'en by Si7rtrow>Drsubject to approval by 4ender, provided.
that such'~pprOYal~Sfialf not be urireasoh~tfli? vw'tFt~e~C'•A1~-~rer~iumS or4~insti~rice policies stialitie pard in the manner
provided:urtder pardgrapOB;heraot o~lf itdt paldintstfdh~fianner: by Bgtrower Making#iaylrfrent.wheRdiiE* dit~Ctly to the
insurance carrier.
-All insurancq polioieaand renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
- clause in favor otand in torm~acceptabte to Lender. Lender shall have the right to hold the policies and renewals thereof,
and Borrower shalt promptly tumish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
Borrower shat) give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made-promptly
by Borrower.
Unless Lender and Borrower othemise agree in writing. insurance proceeds shall beapplied 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 ii 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. Itahe~~rdpeelyt.is'at4ahdoned by~idrr~wer, or if Borrower tails to respond to Lender within 30 days from the
dale notice is mailed by Lender tti Borrower that the insurance carrier offers to serile a claim for insurance benefits. lender
is authorized to collect and apply the insurance proceeds at Lenders optics either•to restoration or repair of the Property
or to the. su(~s secured y tai rr~~gga8~~ ; ~ i . r, ~ i
Ur~less~Leridet end ~brt'o3ve~{rt'f;rviaS~agr~ in v?irfing, arty such application of proceeds to principal shall not extend
or postponr3 the due date of the monthly installments referred to in paragraphs"y` end 2 t?hreaf tSr chan~~tha amount of
such installments. it under paragraph t 8 hereof the Properly is acquired by Lender, all right. title and interest of Borrower
in and to any insurance policies and in and to the proceeds thereof resulting tram damage to the Property prior to the sale
or acquisition shalt pass to Lender to the extent of the-sums secured by this Mortgage immediately prior to such sale or
acquisition.
6. Preservatbn and Maintenance of Property; Leaseholds; Condaminlums; Planned Unit Developments.
Borrower shall keep the Property in good repair and shall not commit waste or permit impairment ordeterioration of the Pro-
party arid shall comply with the provisions of any tease it this Mortgage is on a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall pertorm a!t of Borrowers obligations under the declaration
or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of tt}e
condominium or planned unit development, and constituent documents. 11-a condominium or planned unit development
rider is executed qy Borrower and recorded. to9ether w~ ~h this Mortgage,~th povenants and agreements of such rider
shalj tie incorporated~to anil sf?taifl~merid ar~d sUppteriherit the covenants a~~ agreements of this Mortgage as if the rider
were a part hereof.
7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which rbateriatly~ affects Lenders interest in the Property,
including, but not limited to. eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then Lender at Lenders option, upon notice to Borrower. may make such appearances, disburse such
sums and take such action as is necessary to protect Lenders interest, including, but not limited to, disbursements of
reasonable attorneys tees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
condition of making the loan secured by th~'Mortg$ge, Borrower sflall pay the premiums required to maintain such
insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrowers and
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