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UNIFORM WYENAN7'a. Borrower and Lender covenant and agree u follows:
hytwenl e?t Ifrintirel ttni lwtereet. Borrower shall promptly pay when due the principal of and interest on the
indebtedneu evidenced by the Note. prepayment and late charges ac provided in the Note, and the principal of and intettW
on any Future Advances secured by this Mortgage.
2. ilhsttds Gtr Ts:ee anti IRarsnce. Subject to applicable law or to a written waiver by Lender. Botr+o+t?et ttAsp
to Lender on the day monthly installments of principal and interest ire payahle under the Note. until the Note is psW 111
a sum (herein "Funds") egwl to one-twelfth of the yearly tars and assessments which ttaay uittain B'MK tltig
Mortgage, and ground rents on the Property, if any, Flus one-twelfth of yearly premium itapalltt~ igR,1~ ~alN.
plus one-twelfth of yearly premium installments for mortgage insrrrancc, if any, all u rcasortt~lY,~,tt1~~;
time to tithe by Lender on the basis of assessments and hills and reasonable estimates thereof.
The Funds shall be held in an institution the deposit. or accounts of which arc insured or by?`i'~`~ ~
state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to~j~~tixea;
insurance premiums and ground rents. Lender may not charge for sn holding and applying the Funds. attslysitttgtttlM '
or veritying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applies
permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution eft tlN1i
Mortgages that interest on the Funds shall bt paid to Borrower, and unless such agreement is made or applicable law
requirex such interest 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 u additional security for the sums 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 taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
assexsosents, insurance premiums and ground rents as they fall due, such excess shall be, at Borrowers option, either
pranptly repaid to Borrower or credited to Borrower on monthly installments of Funds. It the amount of the Funds
held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
Botntowrer shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Lemier to Borrower requesting payment thereof.
Upon payment in full of all sums secured by this Mortgage, lender shall promptly refund to Borrower any Funds
held by [.ender. 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
Lender at tht 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 sad 2 hereof shall be applied by l.cnder 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.
1. Charges; Lkw. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, i[ any, in the manner
provided under paragraph 2 hereo[ or, if nut 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
Borrower 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 riot be
required to discharge any such lien so long as Burrower shall agree in writing to the payment of the obligation secured by
such lien in a manner acceptable to Lender, or shall in gcKxl faith contest such lien by, or defend enforcement of such lien in,
legal proceedings which operate to prevent the enforcement of the Iren or forfeiture of the Property or any part thereof.
S. Hazard Insurawce. Borrower shall keep the improvemenu nun existing or hereafter erected on the Property insured
against loss by Ere. hazards included within the term "extended coverage", and such other hazards as Lender may require
and m such amounts and for such periods as Lender may reyuirr, provided, that Lender shall not require that the amount o[
such coverage exceed that amount of crnerage 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 be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
insuratxe carrier.
All insurance policies and renewals therrot shall tx in form acceptable to Lender and shall include a standard mortgage
clause m favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
i and Borruw•er shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
Borrower shall gwe prompt nonce to the insurance earner and Lender_ Lender may make proof of loss if not made promptly
by Borrower.
Unless Lender and Borrower otherwise agree in venting, insurance proceeds shall be applied to restoration or repair of
the Property damaged, provided such rrstofatu+n ur repair is economically feasible and the security of this Mortgage is
not thereby imparted. If such restoraUun or repair. is nut 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 a:cess, if any, paid
to Borrower. If the Property rs abandoned by Burrower. or it Borrower fails to respond to 1_ender within 30 days from the
date notice is marled by Lender to Borrower that the insurance carrier ofTers to settle a claim for insurance benefits, Lender
is authorized to collect and appl}• the rnsuranee proceeds at Lender's option either to restoration or repair of the Propem•
or to the sums secured by this Morigag~
t Unless Lender and Borrower otherwise agree in venting. any- such application of prcx;eeds to principal shall not extend .
or postpone the due date of the montnk installments referred to in paragraphs t and 2 hereof or change the amount of
such installments. It under paragraph 18 hereof the Property a acyuired by Lender, all right, title and interest of Borrower
in and to any Riwranee policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
or acgtusition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sate or
acquisition.
6. Presen•alion and Maintenance of Property; Leasehiilds; Condominiums; Planned Unit Des•elopments. Borrower
shall keep the Property iii gaud repair and shall not commit Kaste ur permit impairment or deterioration of the Property
and shall comply with the provisions of any lease it thi, Mortgage is tin a leasehold. If this Mortgage is on a unit in a
condominium ur a planned unit development, Burrower shall pertarm all of Borrower's obligations under the declaration
or covenants creating ur guvermng the condominnim or planned unit development, the by-laws and regulations of the
t condominium or planned unit development. ,ind a+mtituent dixuments. If a condominium or planned amt development
- rider is executed by Burrower and recorded together with this Mortgage, the covenants and agreements of such rider
shall be incorporated into and shall emend anJ supplement the covenants and agreements of this Mortgage as if the rider
were a part hereof.
4 7. Protection of Lenders Security. I( Bom+ser fads to per'iurm the covenants and agreements contained in this
Mortgage. or if any acUun or proceeding rs cumm~nced which materially affects Lender's interest in the Property.
including. but nut limited tu. eminent domain. ms.+kencs. code enforcement. or arranKements or proceedings invoking a
bankrupt or decedent, then Lender at Lender's option, upi+n notice to Burrower, mss make wch appearances. disburse such
sums and take such action es is necessary t.+ protect I ender's interest, rncludinc. but our limited to, disbursement of
reasonable attorney's firs and emry upon the Property to mike repairs. If Linder reyuireJ mortgage insurance as a
I cunditu,n u( making the loan secured by this ~tuni.i~r. Berri-veer sh dl pay the premnum rrynired to maintain such
msurancr in elfect until such nine es the reyuirenient Ior such ir,:uran:r terminates m accordance with Borrower's and
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