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UNtPOUM COVBNANi~. Borrowe~ a~d l.et~der covenant and a`ra as tollows:
1. h~eN ot hi~clNl a~i INe~at. Borrowe~ shall pranp~l~• pay when due the pri~cipal ot and intercst on tAe
indebtednas evidenced by the Note. prepayme~t and late cha~gec ac provided in the Note, and the principal ot and interes~
on any Future Advances secured by this Mongage.
2. ih~i tor Taxa u~d l~wn~ce. Subjat to applical+Ic law .~r ta a written waiver by Lender. Borrovrer shall pay
to L.ender on ~he day monthly installmen~s ot p~incipal and int~rcc~ rrr ~yahle under the Note. uotil the Note is paid in tull.
a:um (hercin "Fun~") equal to one-tweltth of lhe yearl~ u~~~ and assessments which may attain pnority ove~ ~his
Mortjaje. and ~round rents on the P~+ope~ty, if any. F+lus one-~wcl(~h of yearly premium installments for huard insurance.
plus oae-twelfth of yearly premium i~stallmeots (or mortgage ins~~nncc, if any, all as rcuonably eslimated initially and trom
time to time by Lender on the basis o( assescmcros and h~lls a~d reawnable estimata thereof.
The Funds shall be held in an institu~ion the depait~ or accoums of which are insured or guannteed by a Federal or
atate a~ency (includina Lender if Lender is such a~ institu~ion). I.ende~ ahall apply the Funds to pay said taxa. asseuments.
insuranoe premiums aod g~ound rcnts 1 ender map not charge tor so holding and ap~+lyiog the Fundc. analyzing caid account.
or verifyin~ aod compling said assessments and hills, unless I_ender pays~Borrower interat on ~he Funds and appficable law
permitt Lender to make such a charge. Bc-rrower and Lender may agree in writi~g at the time of execution ot this
Mort~aae that interest on the Funds shall he paid to Borrower. and unless such agreement is made or applicable law
requira such interest to be paid, Lende~ shall not be rcquired to pay Borrower any intercst or earnings on the Funds. I_endtr
shall 6ive to Borrower, without charge; an annual accounting of the Funds showing credits and debits to ~he Funds and the
putpose tor which each debit to the Funds was made. The Funds are pledged as additional ucurit}r tor ~he sums secured
by this Mortaage.
If the amount o[ the Funds held by Lender, togtther with the (uture monthly inslallments of Funds payable prior to
1he due data of taxes. usessments, insurance prcmiums and g~ound rents, shall exceed the amount reyuired to pay sa~d taxes,
asswtaents. insurance premiums and grouod rents as they fall due, such excess shall be, a~ Borrower's option, either
pranptly repaid to Bormwer. or credited to Borrower on monthly installmen~s of Funds. If the amount of thc Funds
held by Lendtr shall not be suRicieot to pay taxa. assessments, insurance prcmiums and ground rents as they fall due.
Botrowrer shall Qay to Lender any amount necessary to make up the deficiency within 30 days trom the date notice is mailed
by Lender to Borrower requesting-paymeot thercof.
Upon payment in full of all sums xcured by this Mortgage, l.~nder shall promptly rcfund to Borrower any Funds
heW by Lender. If undet pusgraph 18 hercot the Property ~a sold o~ the Proper~y ~s otherwise acquircd by t_ender, t_ender
sbdl apply. no later than immediately pnor to the sale of the Propeny or its acquisition hy [_ender, any Funds held bv
Leader at the time of application as a credit against the sums secured by this Mortgage.
3. Applic~tion of Paymeots. Uoless applicable law provides otherwise. all payments rtceived by l_ender under the
Note aod paragnphs I and 2 hereo( shall be applied by I.ender 6rst in payment of amounts payable to (_enJer by Borrower
under paragnph 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. .
~. Chartes; Lieas. Bonower tihall pay all ~azec. a~sescments and othrr charges_ finec and ~mposiuons attnbutable ~o
the Ptope[ty which may attain a pnority over th~c Mongage, and leaxhold payments or ground tents, i[ any, in the manner
pmvided under paragraph 2 hereof or. ~f not paid in wch manner, by Borrower making payment, when due, directly to the
payee thercof. Borrower shall promptly furmsh to LenJer all nouces of amounts duc under this paragtaph, and in the event
Borrower shall make payment direcUy, Borrov-er shall promptly furn~sh to Lender receipts evidenemg such paymenti.
Borrower shall promplly discharge any lien which has pnonty over thia Mortgage: prov~ded, that Borrower shall nol be
rcquired to discharge any such lien so long as BorroWCr tihall agrec m~r~hng t~• the payment ot the abligation ucured by
such lien m~ manntr acceptable to Lender, ur tihall m g~xxi faith come~~ ~uch lien by, or Jefend rnforcement oi such iien in,
legal proceedmgs wh~ch operate to prevent the entorcement ot th~ hen or torfenure of ~he Propen~• or any part thereof.
S. Huud I~urance. Borrowet shaU keep the ~mpmvcmentti m~w c~~cung ~~r hereafter erecled on the Property insurcd
against loss by fire, hazardi included withm the term "euendeJ cuverage", a:~d such other hazards as Lender may reyu~re
and m such amounts and for such periods ac 1_ender ma}• reyuirc; provideJ, that (.ender shall not requirc that the amount of
such coveragr exceed that amount of coverage required to pay the ~ums cecurcd ~by thic Mor~aage.
The ~nsurance carrier providing the insurance shall tx chosen by Borrower subject to approval by Lender, provided.
that such approval shall not be unreawnably withheld. All prcmwm~ on insurancc pc~lic~es sha11 be paid ~n the manner
provided under paragraph 2 hereof ur, if not pa~d ~n cuch manner, b}~ Borrower makmg payment, when due, dirccUy to the
insurance carrier.
All insuranre Ewlir~es and renewals therrot shall t-e in form ac~eptabtr to Lender and shall ~nclude a~tandard mortgage
clause in favor of and in torm acceptable t~. l.ender. Lender chall have !he right te- hold the Fwlicies and ~renewal~ thereof,
and Borrower shall prompdy furmsh to I.ender all ren~wal notices and ~U receipts of paid prcmium~. In the event of los~.
Borrower shall g~ve prampt notire to the inwrance carncr anJ I.enJer. I.enJer ma~ make pnK~i o( loss if no: made prumptly
by Borrowe~.
Unless I.cnJer and Borrower otherNiu: agrcc in wnt~ng, imurance pr~xeeJ~ shali be applied ro restoratioi~ or repair of
tht Property damaged, prowJeJ ~uch re~toration or repa~r is erunomically (eas~ble and the security of this Mortgage ~~
not thereby impaired. I( such restoraliun or repa~r is ni~t econc~m~cally (eavbic or ~( the secunty of 1h~s Mortgage wc~uld
be impa~red. the insurance proceeds shall be applied to thc sums secureJ by this Mor[gage. v~•qh ~he excess, if an}~, pa~d
to Borrower It the Property n abanduned by Norrower, or it Bormwer faih ti~ resEx~nd to I.ender within 30 days from the
date nolice ~s m:~deJ by l~nder to Barrower that the msurance carner ot~en to ~etde a cla~m for insurance benefi~s, I.enJer
~s aut6orized to collect anJ apply Ihe inwrance proceeds at Lend~r'~ uphun either to restoration or repa~r of ihe Pr~pert~•
or to the sums xcureJ by Ihis Mortgagc
Unltss I.~nJer and Burruwer uther~+~tie agree in wnUng. any such applica~~on ~~f pnxeeds to principal shall not ettend
or pc,stpone the due date of the m~~nlhlc intitallmem~ referred ti. in paragraph~ I and 2 hereof or change Ihe amount of
such installments. If unJer paragraph t8 her~of ihr Propert}• a acywred h} Lender, rll r~ght, Utle and interest ot Borr~~wer
in aod to an~ (tuurance polic~es :ind in and to th~ pr~eedti thereut re~ulung from damage to the Propeny prior to Ih~ sale
or acywsit~on shalt pa~s ro Lender to the extent ot the wms iecured by thn tiiortgage immediatel}~ pnor to wch sale or
acquisition.
6. Prcsenation aod ~ttintenance nf Property: t.easehulds; ('ondominium~; Planned Unit Ih~elopments. Borrowcr
shall keep thc Propcrt~• in gcx~d repair and shall not comrpit y~aste or permu ~mpa~rment or deteriotation ot the Propcrty
and shall comply~ with ~he provis:uns of any lease ~I thn :~1ortgage ~~ un :~ Icasch~~ld. If thic Mortgage is on a iim~ ~rs ~
condominium or a planncd umt Jcvclupment. Bormr-er ~h~ll pert~~rm all o( Bormwer's obligations under thc declarati~~n
or covenants creating or guvermng Ihe condom~nwm or pl~nnrd unrt devel~~pmcnt, the by-laws and regulatiom of the
condominium or planned unit Je~•elopment. enJ c~~nti~itucn~ Jucumenl~ I( a conJominium or planned ~m~t de~el~~pment
nder ~s executed by Horrower and rer~~rded t~~gether wrth th~ti Mnrtgage, the covenantt and agreements of wch ndcr
sha11 be ~ncorporated into and shall amend and ~upplrment the cu~en:~nlti and agrermems c~f this Mortgage as if the n~icr
were a part t.ereof. ~
7. Proteilion of I.enders tiecurity. 11 H~.rr.~.+er ta~l. t~~ ~xrt~~rm the covenants and agreements cunta~ned in •thi~
Mortgage, ur if any ac~iun ~~r procre:l~ng n c~~mmrnce~t Nhicn ma~~nall~ etir.ts 1 rn~ler~ti mterr~t in ~he Pn~~xr~~.
including. bu~ nnt I~mi~ed ~u. cmincnt domam. m.~.hcnc~. ~udc rnf~,r~cmrnt. ~,r .~rran~;cm~ntt or pnxc~dings imohing a
bankrupt or Jecrdent, ihen LenJe~ at I enJer'~ opUOn, up~~n nnlice ta B~~~ruwer. ma~ m.:ke such :~rpear:inceti, d~tihurtie tioch
sums and take such aiuun a. is nece~~ary tu pr~~tect l.ender's ~meretit. mcluJ~n~ but nnt hmiteJ tu. ditibu~SCmeM ~~t
reasonahle allomey'v Ircti and cntry u~~~n thc Pn~~xr~~ t~~ m.~l,c rep.nn. 11 LcnJcr r~yiiirr.l m~~rt~age in~u:an~c a~ :~
conditiun ~~t mak~ng thc li~:u~ u:cureJ b} thi~ ~1~~n~.~Ec. B~,rrr.wcr sh ill pa}• thr prcmiumti rcyu~reJ li~ mai~~t.~~n tiu~h
~n~urencc in cttc~t unl~l wch titnc a~ Ihc rcy~nrrmcnl f~~r .uch m,ucan;r Icrnun.~~r~ ui .~c~ordancc Hith B~~rr~~Hrr'` :md
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