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UNltrorfut CovlNANT's. Borrower and Latde• covenant and agree u folbws:
ityrtwatl lrMefMl tttM ItMerettl. Borrower shall promptly pay when due the principal of and intsrest on the
iadebtednas evidenosd by the Note. prepayment and late charges ax provided in the Note, and the principal of and interest
oa any Future Advances securod by this Mortgage.
2. lade Nr Tazee tnrttt iawrtrce. Subject to applicat+k law •sr to a written waiver by Lender. BotTawer shall pay
to Lender on the day monthly installments of principal and tnt~rest arc payable under the Note. until the Note is paid in full,
a stun (herein "Funda'~ equal to one-twelfth of the yearn taxes and assessments which may attain priority over this
Mortgage, sod gtouttd 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 insurance. it any, all as reasonably estimated initially and room
time to time by Leader the buffs of assessments and hills and reasonable estimates thereof.
71te Funds shall be held in an institution the depos,ts or accounts of which are insured or guaranteed by a Federal of
start agency (including Lender it Lender is such an institution). Lender abet) apply the Funds to pay said taxes, assessments,
irtwrartoe premiums and ground rents. I ender may not charge for so holding and applying the Funds. analyzing uid account.
or verifying artd compiling said sssessments and bilk, unless lender pays Botmwer 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 shall be paid to Borrower, and unless such agreement is made or applicable law
require 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 wu 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, asseutnenu, imurance premiums and ground rents, shall exceed the amount required to pay said taxes,
assasments, insurance premiums and ground rrnts u they fall due, such excess shall te, at Borrower's option, either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the 1~urtds
htdd by Lender shaA not be sufTicieat to pay taxes. assessments, insurance premiums and ground tents as they fall due,
Borrower shall pay to Leader any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Lender to Borrower requesting payment thereof.
Upon payment is full of all sums secured 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 rs otherwise acquired by Lender. lender
shall apply, rto 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 u a credit against the sums secured by this Mortgage.
3. A~iicatiaa of PaymerKs. 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 Advatioes.
t. (.'rt=es; Liefas. Borrower shall pay all taxes, assessments and other charges fir=es 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 m such manner, by Borrower making payment, when due, ditectiy 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 shill promptly discharge any lien which hu priority over thrc Mortgage: provided, that Borrower shall not be
requred to discharge any such lien so long as Borrower shall agree in writrng to the payment of the obligation secured by
such lien in a manner acceptable to Lender, or shall rn gcxxt faith contrsr such lien hy, or defend enforcement of such lien in,
legal proceedings which operate to prevent the enforcement of the Iren or tor(er[ure of the Property or any part thereof.
S. Hazard Inwrrawce. Borrower shall kcep the rmprovcmenn now existing ur hereaher erected on the Property insured
' against loss by fire, hazards included within the term "extendeJ coverage", and such other hazards u Lender may require
aad in such amounts and for such periods as Lender may require: provided, that 1_ender shall not require that the amount o[
such coverage exceed that amount of coverage requued to pay the Sums secured Eby this Mortgage.
The rnsurarrce cattier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
that such approval shall not be unreasonably withheld. All premrums on insurance polices 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
~ insurance career.
i Ali 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,
f and Borrower shall promptly [urorsh to tender all renewal notrces and all receipts of paid premiums. In the event of loss,
Borrower shall give prompt nonce to the insurance career and Lender. Lender may make proof of loss if not made promptly
j by Borrower.
f Unless Lender and Borrower otherw,st ague in writing, insurance proceeds shall be applied to restoration or repair of
the Property damaged, provided such restoration or reparr rs economically feasible and the security of this Mortgage is
not thereby impaired. If such restorah•x, or reparr is not economically feasible or if the security of this Mortgage would
bt impaired. the insurance proceeds shall be applied to the sums secured by )his Mortgage. with the excess, if any. paid
to Borrower. If the Property n 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 ofTert to wale 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 m writing. any such application of proceeds to principal shall not extend
or postpone the due date of the munthlr installments referred to in paragraphs I and 2 hereof or change the amount of
~ suc6 installments. If under paragraph 18 hereof the Property a acywred b~ Lender, all right, title and interest of Borrower
in and to any Rrsiftanc~ policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
or acquisition shall pus to Linder to the extent of the sums secured by this :Mortgage immediately prior to such sale or
acquisition.
6. Presenatbn and Maintenance of Property; I.etiseholds; ('ondominiums; Phoned Unit Dsvebpments. Borrower
shall keep the Property rn good repair and shall not comrvit yvaste or permit impairment or deterioration of the Property
and shall compl~• with the provisions of any lease rf this Mortgage is an a IeaschoW. It this Mortgage is on a unit in a
[ condominium or a planned unit destlapment, 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
c condominium or planned unit development, and constitutor dcxumenrs. I(a condominium or planned unit development
rider is executed by Borrower and recorded together with the Mortgage, the covenants and agreements of :,uch .rider
! shall be incorporated ,nto and shall amend and wpplement the cosenants and agreements of this Mortgage as if the rider t
were a pare hereof.
7. Protection of Lenders Security. If Borrower fad. m perform the covenants and agreements contained in this
Mortgage, or if any action ur proceeding rs commrnrrd whr;b mattriall} afircts I.cnder's inttrtst in the Property, f
~ including. but not limited to, eminent domain. insolsency. uxlr tntorcemtnt. or ..rranRemtnts or proceedings rnvohrng a
bankrupt or decedent, then Lender at Lender's optron, upon notice to Borrower. mad make such appearances, disburse such
sums and lake such a~tian as s necessary to protect Lender's mtertst. including. but not limned to, disbursement of
reasonable attorneq's lees and emry uprm the Pre?pcng to ma{,c repairs. If Lander rtyuircd mortgage insurance as a
condition of making the loan Kcurcd b} this Mortgage Bortr:wcr shall pa)~ the prcmwms rtqurred to maintain such
insurance in rtk~t until such Irmo as tFrc rtyurrcmcnt far ,uch msuran:c ttrmuralts m :rccordancc with Borrower's and
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