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UNi)rORM CovaNANTa, Borrower acrd bender covenant and agree u falows:
1i. FgmstN M fhiael~al aN 1tNenel. Borrower :ftall promptly pay when due the principsl of and interest on the
ittdebtednas evidettad by the Note, prepayment and late clwrges as provided in the Nae, and the principal of tad interest
as any Futtrro Advaatxs tiectu+ed by this Mortgage.
2. lrtatla far Tatty ttoi Iawraace. Subject to applicable law ar to a written waiver by Lender. Borrower shag pay
to Leader on the day monthly installments of principal and interest ~rc payable under the Note, until the Note is paid in full,
a stmt (herein "Fuads'~ equal to onatwelfth of the yearly tax~~ and assessrrtents which may attain priority over this
Mortgage. and grotatd rata on the Property. if any. plus orte-twelfth of yearly prcmittm installments for hazard insurance.
plus one-twelfth of yearly premitun installments for mortgage inuirance. if any, all as reasotubly estimated initially and from
time to time by Lender on the basis of assessments and hills and reasonable estimates thereof.
The Funds shall be held in an institution the deposiq or •rccounts of which are iratrred a gtuanteed by a Federal of
state sgertcy (including Leader if Lender is such an institution). 1_ender shall apply the Funds to pay said taxes, assessrrteats.
iawratt~e premiums and ground rents. Lender may not charge for sn holding and applying the Fttnds. analyzing said account,
or varifyinjartd compiling said assessments and bilk, unless Lender pays Borrower interest on the Funds and appligbk 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 shall be paid to Borrower. and unless such agreement is made or applicable law
requires such interest to be paid. Leader shall nut 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 are pledged as additional security for the sums secured
by tha Mortgage. i
If the amount of the Fonds 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,
aaseaments. insurance premiums and ground rents as they fall due, such excess shall be. at Borrower's option, either
promptly repaid to Borrower or crodited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Leoder shall not be wi6cieat to pay taxes, assessments, insurance premiums and ground rents ss they fall due, }
Borrower shall pay to Leader any amount necessary to make up the deficiency within 30 days tram the date notice is mailed
by Leader to Borrower tegtresting payment thereof.
Upon payment is full of all stmu secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
heW by Leader. 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. A~licatioa of Payatetuts. 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
trader 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. C6arge~ Lktas. 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. if any. in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, whets due. directly to the
payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due urxkr this paragraph, and is the event
Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. ;
Borrower shall proomptly 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 by, or defend enforcement of such lien ia,
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. f
S. Hasard Iawtnrtce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured i
against loo by fire, hazazds included within the term "extended coverage", and such other hazards az Lender may require
and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of ~
such coverage exceed that amount of .coverage required to pay the sums secured by this Mortgage. r
'I1te 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
'i insutYace carrier. -
j All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage s
clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, s
and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of lass,
Borrower shall give prompt notice to the insurance carrier and Lender. Leader may make proof of loos if not made promptly
by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied 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 if the security of this Mortgage would
E be impaired, the insurance procceds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by Lender to Borrower that the insurance carrier offers 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 Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments. If under paragraph 18 hereof the Property 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 from damage to the Property prior to th•: sale 1
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition. ,
6. lresenation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit l0evebpmepts. Borrower
shall kcep the Property in good repair and shall not commit yvaste or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease it this Mortgage is on a leasehold. if this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrowers obligations under 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
6 rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
were a part hereof. ,
7. Protection of Leader's Security. If Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
including. but not limned to, eminent domain. insolvency. code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then 1_ender at Lender's option, upon notice to Borrower, ma}• make such appearances, disburse such ;
~ sums and take such action as is necessary to protect Lender's interest, including. but not limited to, disbursement of j
reasonable attorney's tees and entry upon the Property to make repairs. If Lender reyuired mortgage insurance as a
condition of making the loan secured by this Mortgage. Borrower shall pay the premiums required to maintain such
`r insurance in effect until such time as the reyuiremem for such insurance lermtnates in accordance with Borrowers and
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