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UNIlO~M COVENANTS. Bomower and Lender covenant and aara as tollows:
1. T~,rweN ~ hMc~l a~i IMerat. 6ormwer shall promp0y pay whcn due the p~iocipal of and iotercst on the
indebtedneu evidenexd br the Note. Prcpayment and late chargee ac p~ovided in the Note, and the principal o[ and i~teresl
on aay Future Advances secured by this Mortgage.
Z. Ihni tor T~sa aad I~wea~ce. Subject to sQplicable law ~.r to a written waiver by I.ender~ 8orro~we~ shall pay
to Lendw on the day mo~thly ~nstallmenls ot principal and ~nt~rcc~ rrc ~yahle unde~ 1he Note. until the Note is paid in tull,
a sum (herein "Funds'~ equsl to ooe-tweltth al the yearl~ ta~~. anJ assessments which may attain priority over this
Mortta~e. and ~round rents on the Property, if any, plus one-twelfth of yea~ly premium installments for hazard insurance,
plus ot~e-tweltth o[ yearly premium installmen~s tor mortgage insuru-cc, if any, sll as rcasanably es~imated initially and trom
time to time by Lender on the buis of asxscmcnts and hills and reawnable a~imates thereo(.
'Il~e Funds shall be held in an insti~uiion ~he depoaa or accounts ol which are insurcd or guannteed by a Fedenl ot
state agency (includina Le~der if Lcnder is such an institution). I_ender ahall apply the Funds to pay said taxes, sssusmentt.
insurance promiums and g~ound rcnts 1 ender may no~ charge tor u- holding and applying the Fnndc. analyzing caid account.
or verityin~ snd compiliog said asxssmems and bills, unless l.ender pays Borrower interat on the Funds and applicable law
permits I.ender to make such a charge. Borrower and Lender may agree in writing at ~he ~ime ot execution of this
Mortgage that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicabfe law
rcquit+a such interest to be paid. Lender shatl na be rcquired to pay Barrower any interost or earnings an the Funds. l.ender
shall Sive to Borrower, without charge, an annual accaunting of the Funds showing credits and debits to ~he Funds and the
purpose for which each debit to the Funds wu made. The Funds are plodged as addi~ional cecurity for ~he sums secured
by this Mortpae. -
If the amount of the Funds held by Lender, together with ~he future monthly ins~allments of Funds payable prior to
the due data of tua, assessments, insurance prcmiums and ground rents, shall exceed the amoun~ rcquired ~o pay said taxes,
assestments. insurance premiums and ground rents as they fall due, such excess shall be, at Borrower s option, either
pranptly repaid to Borrower or credited to Borrower on monthly installmen~s of Funds. 1[ the amount of Ihe Funds
held by Leoder shall not be sufficient to pay uxes, assessmcnts, insurance ptem~ums and ground rents as they fall due,
Borro~rer shall pay to Lender any amount necusary to make up the deficiency within 30 days irom Ihe date notice is mailed
by Lender to Borrower requesting payment thereof. "
Upou payment 'in full of all sums secured by ~his Mongage, l.ender shall promptly retund to Borrower any Funds
held by Lender. If under puagraph 18 hercof the Property i~ sold or the Property ~s othervvise acquired by Lender, 1_ender
shdl apply. no later t6an immediately prior to the sale of the PropeAy or its acquis~tion by l.ender. any Funds held bv
[.eoder at the time of applicadon as a crcdit against the sums secured by th~s Mortgage.
3. Applic~tios ot Paymeots. Unless applicable law provides otherwix, all payments received by Lcnder under the
Note and patagraphs 1 and 2 hercof shall bc applied by 1_ender fint in paymtnt ot amounts payable to I_ender by Borrower
under puagraph 2 hereof, ihen to inte~est payable on the No~e, then to the principal of the Note, and then to interest and
principal on any Futurc Advanas. '
4. Chattes; Lie~. Borrower tihall pay aU taaee. auessments and other charges_ 6nec and impoiitions aunbutable to
the Property which may attain a priority over this 111ortgagc, and leasehold payments or grouna rtnts, if any, in the manner_
provided unde~ paragraph 2 hereof or, i( not pa~d in such manner, by Borrower making paymenl, when due, directly to ihe
payee theroo(. Borrower shall promptly furmsh to Lender all notices of amounts due under th~s paragraph, and in the event
Borrower shall make payment directly. Borrower shall promptly (urn~sh ~o l.ender receipts evidencmg such payments.
Borrower shall prompUy discharge any lien which has pnonty over thn Mortgage; provuied, that Borrower shall not be
reqwred to d~scharge any such lien ~ long as Borrower shall agree m Nnung t~~ the payment o( the abligatiun secured by
such lien in a manner acceptable to Lender, or ~fiall m gcxxi (aith cunte,~ such liers hy, or'Jefend enforcemenl of such lien in,
legal proceed~ngs which operate to prevent the enf~~rcement o( the I~eo or torfe~wre o( ~hc Property or any part thereof_
S. Hazud Insurance. Borrower shall kcep the ~mprovememti no.. exisung ur hereaher erected on the Property insured
against loss by fire, hazards included withm ~he term "rxtendeJ coverage", a~d such other hazards as Lender may require
and in such amuunts and tor such periods ac l_ender may reyuire; provideJ, that 1_enJer shall not rtquire that the amount ot
such coverage exceed that amount of coverage requ~red to pay the ~umS ~ecured ~by th~s Mor~gage.
"Ihe insorance carrier providing the insuran;e shall be chosen Ay Borrower subject to app~oval by Lender; providod.
tbat such approval shall not be unreasonably withheld. All premiums on insurance polic~es shatl be paid in the manntr
provided under paragraph 2 hereof or, if not pa~~J ~n such manncr, by B~rrower mak~ng payment, when due, dircctly to ihe
insurance carrier.
All insurancr polic~e; and renewals thcre~•f shall be in form acccptablr to LenJer and ~hall mclude a s~andard mortgage
clause in favor of and m form acceptable to Lender. Lender shall have the right to hoW the policies and renewals thereof,
and Borrower sh~ll promptly furmsh to L::nJer all renrwal noucet and all receipts of paid prcmiumti. In the event of loes,
Borrower .hall grvc prompt not~ce to Ihe in~urance carncr anJ I.ender. I.ertJrr m:~y make pnx.t of loss if not made promptly
b) Borrower.
Unless Lender and Borruwc~ othcrwi,c agrrc in wnt~ng, inwrance pnxecJs shall be applied to restoration or repair of
tht Property damaged, prov~JeJ such retitoration or repair is rconomically fea~ible and the ucurity of thrs Mortgage ~s
not thereby impa~red. lf soch restorah~n or tepa~r is ni+t rcon~~m~cally~[eacihlc or if the secunty of th~s Mortgage would
be impaired, the insurance proceeds shall be appfieJ to the sums sccureJ by th~s Mortgage. wnh the excess, if an}•, paid
to Borrower If the Properly is ~band~~ncd by Borrowcr, or ~t Borrower fa~ls t~~ res~nd to LenJer within 30 days from the
date notice ~s maded by Ixnder to Borrower th:it the msurancc carrier ofTen to settte a claim for msurance bene6ts, IRnder
is authoriud to collect and apply the ~nsurance proceed~ at I_enJer'~ opt~on either to restoraUOn or repa~r of the Propen~~
or to the sums secured by this titortgagc
Unlesc l.ender and Borruwer otherv-i,e egree m wnUng, any such application ~~t pnxeeds to pnncipal shall not extend
or poslpone the due Jafc iif thc munthl~• intitallmcM~ rcferrcd t~. in paragraph~ 1 anJ 2 hcrcof or change Ihe amounl o(
such installments. If under parag~aph.18 hereuf the ProE,ert} ~s acyuireJ h} Lendcr, ali nght, title and interest of Borrower
in aod to an} Ihsurance policies and ~n and ti. thr prcx:erdi there~~t re~ulung from Jamage to the Property prior to thc saie
or acquisiUon shall pass to Lcnder a~ the extent of the ,umt sccurcd b}~ thii ~lortgage immediatety prior ta tiuch sale or
acquisition.
6. Preservation and ~taintenance of Propert~; I.eaceholds: ('ondominiumti; Planned Unit Developments. Borrowcr
shall keep the Property in good repair and shall not cumrpic y~aste c~r permit ~mpa~rment or deteriotation of the Property
and shall comply with thc provizions of any Itase ~t thi. Martg~gc r, un a Icaschi~ld. It this Mortgage is on a unit m a
condominium or a planned un~t de~elupmcnt. Borrawer tihall ~xrf~~rm all o( 8orrower's obl~gations unJer 1he declaratiun
or covenants creating or guvermng the condumimum or planned umt devetupmcnt, the by-laws and regutatione of the
condominium or planned unh develo~,ment. .~nd c~~mti~u.m ~lexumem~ if a cunJominium or planned un~l development
nder ~s executed by 13orruK•er and rec~rdeJ t~~gcther w~th thi~ ;1i~rtgage. ~he covenants and agreements of ~uch nd~r
shall be mcorpdrated into and shall amend ~nd supplrment the co-enamti and agreements of this Morlgage as ~( the nJer
w•ere a part Fereot.
7. Protalion ot Lenders Securfty. If B~~rr~~wer ia~l. t~. ~xrt~~rm the cavenam~ anJ agreements canta~ned in thic
Mortgagc, ur if any actu~n ~~r pr~ccJinL ~• .ummrnrc~f uhi~n matrnall} .,ft~ct~ I.endcr'ti intcrc.t in thc Pn.Exri~•.
mcludmg. but nat I~m~ted to. cmincnt dumam. imnl~c~c~. a•dr rnl~~rccmeni. ~~r .urangrmcnt~ or pnkcedings invuhing a
bankrupt or deccJent. Ihcn I.creder at 1 enJer'~ ~~pt~vr-, u~rn n~~~:ce t~- Horn-wcr. ma~ m.,ke wch appcarance~, dnhune wch
sums and Iake such 3c~iun a. ~s nccc~.ar~ h~ pmtcct I.cndcr'c mtcrctit. incluiling. but nc~t Iim~tcJ to. dnburscmcnt o(
reasonable altomey's tee~-and eMry u~~n the Prnpcr~y't~~ m;~kc rep.ur~ It Lcnder rcyi~ired m~.rtgage in~tirance a~ a
ccrndihon ~~( mak~ng thc luan ~ccure~l b} Ihn M~~n~.~kc, H~~n~:wcr sh dl ~~y lhr prcmwinti rcquireJ to maiiila~n ~uch
~nsurancc in rliccl omd tiuch t~mc a~ thc rcyuirc~ncnt t~~r wrh m:~~ran;r ~rrmin:Nr. in .~ccordancc with Borr~~NCr'. and
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