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UNIFORM COYFN.aNTS. BOffUN'C~ :tI1lI I.CDdCf Co~•enant anJ agrce as [olluws:
1. Paymrot of Princlpal and lateresl. Borruw•er shall p~omp~l~• pay Nhcn duc thc principal of and intrrest on the
indebtcdneu evidenccd by ihc Notc, prcpayment and late chargrs a~ praviJcd in thc NMc, and ihc priocipal of and interest
on any Future Advances sccurcd by this Murtgage.
2. Funds tor Taxa and lnsunnce. Subject ~o applicablc law or Io a vvritten waiver by Lender, Borrowcr shall pay
to Lender an the day monthly i~stallmcnts of principal and interest a~e payahlc undc~ the Notc. until the Natc is paid in full,
a sum (herein "Funcls") equal to o~c-twelfth of the ycarly tarcc and as~essments which may attain priority ove~ this
Mongage, and ground rents on the Property, if a~y, plus ooe-twelhh of ycarly premium installmcnts for hazard insurance.
plus onc-twelfth of yearly premium installments tor mortgage insurance, if any, all as reasonably cstimaled initially and irom
timc to time by I_endcr on thc basi~ af asses+ments anJ billa anJ rcasonable estimatcs thereof.
'Il~e Funds shall be held in an inslitution the depositc or acrounts of which are inwred ar guaranteed by a Federal or
state agency (including Lender if t_ender is such an institution). I.ender shall apply the Funds to pay ~aid taxes, assessments,
insurancc prcmiums and ground rents. Lcnder may not chargc lor.o h~~IJing and applying thc Funds, analyzing said account,
or verif)•ing and compihng said asscasments and bills, unless l.enJcr pays Bormwcr intcrest e~n ~he Funds and applicable law
permits Lc~der to make such a chargc. Borrower anJ I.cnJcr ma~ agr~e in writing at ~hc time of executio~ oi ihis
Martgage that intcrest on the Funds shall hc paiJ to Burrower, anJ unlcss such agrecment is maJc ~r applicable law
requires such interest to be paid, Lender shall not hc rryuircd to ~y Rcurowcr .~nr interest or earning+ on the Funds. I.enJer
shall gi~~e to Borrower, without charge, an annual accoimting of the Fun~l~ shuwing credits and Jehits to the Funds and the
purpose tor which eaeh debit to the Funds was made. The f~unJs arc pl~~lg~~i as additional securily~ for ~he sums secured
by this ~iortgage.
If the amount of the Funds held by Lendc~, together with ~hc futurc monthly installm~nls o[ Funds_ payablc prior to
thc due dates of ~axcs, assessmcnts, insurance pren~iums and ground rents, shaU excrcd thc amount rcyuired to p:~}• said taxes,
assessments, insurance premiums and ground rents as thcy tall Juc, such exce~s chall be, at Borrower's option, either
promptl~• repaid to Borrow~er or crcdited to Borruw•er on monthly imtallments of Fund+. !f the amount of thc Funds
held by Lender shall not be suflicient to pay taxes, asxssments, in,ur:-ncc premiums anJ ground rents as the~ fall due,
Borrower shall pay to Lender an~• amount nece~san• to make up the deticicnc~~ within 30 days !rom the date notice is m~iled
by Lender to Bc-~rower reyuesting pa~•ment thereot.
Upon payment in [ull of all sums srcu:ed 6y this 111or~bag~, I.cnd~r shall promptl}• refunJ to BorroH~er anp Funds
held hy I.ender. If onder paragraph IS hercof the Propcrt~• i~ ~old or thc Property ~s otherwi.c acquircd by Lendcr, LcnJer
shall apply, no later than immediatrl~• prior to the .alc ~~f ~hc Proprrty or its acquisition hy I.ender, any Funds he1J by
Lender at the time oi application as a crcdit against the sumti securcd by ~hi~ \fortgagr_
3. Application oi Payments. Unle~s applicahl~ IaW pro~idt-s otherw~ise, all pa}'ments received b~• l.ender unJcr the
Notc and paragraph~ I and 2 hcrcuf shall bc applicd h)° I.cndcr first in paymcnt of amuimts payablc to I.cndcr by Borrov-er
undcr paragraph 2 hcreof, then to intcrest payabk on thc Notc, thcn tu thc princip•rl of thc Notc, and thcn to intcrest and
principal on an}• Futurc Advanccs.
4. CharRes; Liens. Borro~~cr tihall pay all laY~~, asa:~timrnts and o1h~r eharg~x. fir.eti an~l imF+.xitions auributable to
the PropeAp u•hich may aUain a priority over thic ~tortgagc, and IcacchoW pryments or grounJ rents, i[ an~•, in the manner
provided unJer paragraph 2 hereof or. if nut paiJ in cuch manner, h}~ Burrow•er making payment, when due, direcUy to the
payee thcreof. Borrower shall promptly furnish to Lender all notices of amounts duc under this parag~aph, and in thc event
Borrower shall makc pa~•mcnt dirccth•, Bc~rro~rr tihaU promptly furnish to Lcndrr rc~cipt~ c~idrncing such pa~•mcnts.
Borrower shall prompUy discharge any licn Nhi~h has prionty u~•er thi~ Morigage: pruvi~IeJ. tha~ B~~rrower shall not be
required to discharge anp such licn so long as Borrow~cr shall agrce in NriUng ta ~he pa~•mcnt of thr oblig•rtion cecurcd b~•
such lien in a manner aceeptable to ~.ender, ~.r ~hal! in g~xxl faith ronte.t ~uch lien h~•, or Jefen~i enforcrment of such lien in,
tegal proceeding. which operatc to preveM the rnforccmcnt of the licn i~r tor(citurr of the Property ~~r am~ part thcreof.
5. Hazard Insurance. Borrov-•er shall kccp the impn•~•cmcnh n~~~ c~i~ting ~~r hrreaftcr crertcd on thc Pr~•~xr~y ~nturcd
~gainst iosi hy firc. hazards incluJed W i~hin the term "~~tendcd co~rr~g~", anJ ,u~h othcr hatardc ac I.cndrr may reyuire
and in surh amounts anJ t~~r surh prri~xl. a+ Lcnder may reyuirc: pn~~idcd. that L~nJcr ~hall not n:yuirc that thc amuunt uf
such ~o~~eragr e~ce~d ~hat smuunt ~~f co~crage rcquired tu p:~~ the ~um~ ucurtd h~ thi. ~lortgage-
The insurance carrier providing thc inturance tihall be .:hu,rn by Borru~rr suhject to appro~~al b)' Lender; provided,
that surh appr.~~al .hall not bc: unrca~unahl~- aithhclJ. :VI prrm~um. c•n insuranr~ poli~ics ~hall f.r paiJ in thc manner
pr~vided ~mJ~r paragraph 2 hereof .~r, if not p~id in such manner, b~ B~~rrouer makinb payment, when due: dimctl~• to the
insurance carricr_
All insurancc policics anJ rencv-als thcrc~~f ~hall ix in f~~rm acrc~!.~blr to I.cnJrr and shall includ~ a,tanJard mortgagc
da-ac m fav~~r ~f and in form arccptahlc t~~ Lcndcr. Lrnd~r ,h,ll havc ~hc right tc~ hold th~ Ex~li:irs and renc~•ak thcreof.
and Borrower sh:dl prompth- furnish to LenJer ~II ren~Nal notices and all rcceipts of paid prcmium~. In the e~~cnt of lo~s.
Borruw•er ahall gi~~c pr~~mpt noti~r t~~ Ihe insur,~ncr rarrier :~nd I.ender. LcnJrr ma~~ make pnti~t of ioss if not made promptl~~
b}~ Borrower.
Unless I.endcr and Borrow~~r othcn+„c agrcc in wnUnb. insuranre pr~.r~YJs shall be applied t~ retitoration or repair of
thc Prupert} damagcd, provi~cd such re;torat~un or rcpair is ccunomic3ll}' Icasibl~ and thc ticcurity of thi~ A1ortgagc is
not thereb~• impaired. If such re~torahun or repair is n~n ~conumi~all~~ feasihle or if the security of this I-lortgage w•ould
be impaired. the insurance pnxeedt ~hall be applied t~~ the ~ums secure~ b~• this Morigage_ ~~ith the exeecs, if an}•, paid
to Bormwer. II thc Propcrt~ is aband~incd h~ Burr~~w~cr. or it Bnrrow~cr fails to resExmd to t.cndcr within 30 da}~s from the
Jate notice n ma~led b~• Lender to Borrow•er that the insuranre r.~rrier otTen a~ seule a claim for inwrance benefits, 1.ender
~~ authorized to coUect anJ appl~ thc insuran~e proceeJs at Lcnd~r s opdon either to re~toration or repair of the Property
ur to thc sum~.ccured b~~ this ~furtgagc.
Unles~ I.cndcr and $urruw~er othen+i.c :~grec in uriting. ~n~~ such application ~~f prcx~eeds to principal shall not extcnd
or p~ntponc thc duc d•atc of Ihc monthh~ imtallmcnts rcfcrrcd t~~ in paragraph~ 1 an.i ? hcre~-f or change shc amount of
~uch installment~. It under paragraph I8 hereot the Propert~~ is acyuired M• Lender, al! nght, title •rnd interest o( Borrower
in and to an~ inzurance policies ~nd in and :o ~hr pnx;eeds thereof resulting lrom d:+roage ~o the Property prior to ~hc sale
or acyuisition sh:,ll pass to Lender to the e~tent of the ~+ums xcured b~ this ~fortg~ge immediately prior to s~ch sale or
acyuisition.
6. Presenation and ~taintenance of Properl~; I.eacehulds: ('ondominiumc; Planned ~:nit De~•elopmems. Borrow-er
shall k~ep th~ Property in g~~d r~pair and shall not commit w•a~tc ~~r permit impairmcnt or deterioration of the Property
and shall compl}~ with thc provisions of any iease if thu Mongagc iti un a Iraschold. ~If thic Mortgage is on a unit in a
conJominium ~~r a planncd unit ~r.•clopm~nt, Borrowcr shall Ex:rform all uf Borruwcr's ubligations under thc dcclaration
or ro~~cnanlti creating or g~~vcrning thc condominuim or plannrd unit dcvclopmcnt, thc b}~-law•~ and ngulationc of the
cnnJominium ~~r planneJ unit Jevelopment. .~nd constituent dcxuments. If a condominium or planned un~t de~~elnpment
nJer i, cxecuted b~• Borrower and recordcd tugether wi~h shis Mortgage, the co~•enants and ~greements ot such riJer
shall be incorporated intu and shall amend anJ ~upplcment the co~enants and agrrcments o( ~h~: Mortgagc as it the rider
..rre a part hcreof.
7. Protection ot I.enders Security. It Borr~~~er fail~ ~o ~xrf~~rm the rn~~enantc and agreements contained in thic
~tortFagr, or if any action ~~r pro~:ccdmg ~< <ommcnccd whi~h m:~tcriall~• atTccts Lcn~lcr's intcrest in Ihc Pro~xrt~•,
~ncludin~. but rn~t I~m~tcd ta rmincnt domain. ina~l~cnr). c~x1c cn[~~r~cmcm. or arrangcmcnts or ~nxccdin~s incol~~ing a
bankrupt ar dc~cJcnt. thrn I.cndcr •rt Lcndcr's ~~ption, upon noticc to Borrowcr, ma} make yuch appcarancc~. disbur~c such
sums and tal~c such action a+ is nece~~an~ to pmtect Lender's interest. incluJmg, but nat limited to. d~chursement ~~f
rea~cmahlc at~omey's tee+ and emry upon the Proper~t• t~~ makc repairs. If I.rnder reyuired mortgage in:urance as a
ronJrtian of making thc loan sccure~l h~ thi~ ~tt~rteagc. Bnrm~~rr sh:~ll pa}~ thc premiums rcquircd to maintain tiuch
insuranrc in rticct until wch timc as thc rcyuircmcnt for wch inswancc tcrminalc~ in accordancc N7IF1 BOffONCfS and
8~c345 PacE2!3t37
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