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Ut+~poRM CovEN~N~rs. Borrower and I.ende~ covenant and ag~rc a~ follovvs:
1. hymtat of Priacipal wd laterest. Horrawer ~haU prumptl~ pay v-hcn due the principal uf and interest an thc
~ndebtedness evidenced by the Note, prepayment anJ late ch:~rgr. a. pn-vidrd in the.Note, and the principal of aod ~nterctt
on any Future Advances securcd by th~s. Mor~gage.
2. F~uds to~ Tata aad lasutsnce. Subjcct ta applic~ble 1•rw ~~~ to a written waiver by I.ender. Borrower shall pay
to Lender on the day monthly installmems of priocipal ai~d ~na•rc.~ .~rr ~~yablc unJcr Ihc Note, until the Note is paid in (ull.
s:um (herein "Funds") eqwl to one-twelfth ~t the yea~l~ ta~r. and as~escmem~ which may auain priority aver thic
Mottgage, aod ground rents on the Propcrty. if any, plus onc-twcl(~h c~l ~•carly premium installmeots for hatard insurance.
plus o~e-twelfth of yearly premium inst~llmen~s for morlgage insurancc. ~t any, all as rcasonably es~imatcd initially and trom
time to lime by l.toder on the basis of acscstimems and hills :~nd rea~unable es~ima~es thercof.
'[?~e Funds shall be held in an instilutu~n the depo~u. or arcuunt~ ot which are insurecf or guaranteed by a Federal or
state age~cy (including Le~der if LenJer i~ ~uch an inttitution). 1 ender ,hall apply Ihe Fund~ ta p:+)~ aaid taxes, assessments;
insuranee premiums and ground renh i ender may n~t charge tor ,~ holding and applying ~he F~mdc. analyzing said accuunt.
or verifying and comF+iling said assessments and bills, unless I.ender pa~s Borrower interest on the Funds and applicable law
permits Ledder ta make such a charge. H~~rrower and LenJer may ~grre in writing at ~he time of e~eecution ot this
Mortgage that interat on the Funds shall t+e paid to Borrower, and unles~ such ag~eemeM is made or applicable law
rcquires such interest to be paid, l.tnder shall not he rcquireJ to pa~ Borrowcr an}~ intcrest or carnin~~ on the Funds. I:enJer
sl~alt give to Borrower, without charge. an annual accouming ot ~he F=und~ showing credils anJ deb~Is to ~he FunJi anJ the
putpoae for which each debit to the Funds was made. The Fund~ arc pledged as additional secun~y for the sums secured
by this Mortgage. _ ~
If the amount of the Funds held by Lendcr, together with ~hc fwure monthly in~l~llmcnls of Funds p~yablc prior to
the due dates of taxes, assessments, insurance prcmiums and ground renls, shall cxceed thc •rmount rcyuircd to pay said taxes,
assestments. insurance premiums and gmund rents as they lall due, such ercets shall be. ~t Borrower's option, either-
pranptly repaid to Borrower or credi~ed to Borrower on monthly installments of Funds. If the amaunt of thc Funds
held by Lender shall not be suf~cient to pay taxes, assecsments, intur:~nce premium~ anJ ground rents as ~hcy fall due,
Borrower shall pay to Lender any amount necessary Io make up the deficiency within 30 da~~s from the date notice is mailed
by Lender to Borrower requesting paymcnt ~hercot.
Upon paymenl in full o[ all sums securcd by this Mor~gage, l.ender shall promptly refund to Borrov-•er any. Funds
held by Lender. If under paragraph IR hercof thc ProEerty i~ told or thc Property ~s otherwise acquired by I.ender, I.ender
s6a11 apply. no later than immediately prior to the tiale of the Propcrty or its acqu~sitian by 1_ender, any Funds helJ by
L.euder at the time of application as a credit aga~nst the sumc se~ured by th~s Mortgage.
3. Applteatloa of Paymeats. Unless applicable law provides otherwise, all payments received by l.ender under the
Note and paragnphs 1 and 2 hereof shall be apptied by Lender fint in papment of amounts payable to l.cnder by Borrov-cr
under paragraph 2 hercof, then to inte~est payable on thc Nute, thcn to the principal of thc Note, and thco to interest and
principal on any Future Advances.
4. C6arses; Liens. Borrower shall pay all taxe~, attescments and othrr charges, finec and impositions at~ributahle to
the Property which may attain a pnority over this Mortgage, and leaschold payments or ground rents, i[ any, in the manner
provided under paragraph 2 hereof or. it nut paid en such manner, by Borrower making payment, when due, directly to the
payee thereof_ Borrower shall promptly furnish to 1_ender all notices o( amounts due under this paragraph, and in the event
Iiorrower shall make payment d~recUy, Borrower shall promptly fumish to Lender receipts evidencing such payments.
Borrower shall promptly discharge any lien which has priority over ~hi~ Mortgage; provided, that Borrower shall not be
r+equired to dixharge any such licn w long .as Borrowcr shall agree in vvriting to ~he payment o( the obligation secured by
suc6 lien in a manner acceptable to Lender, or ~haU i~ gooci faith cunteu "such lien by, or Jefend eniorcement of such lien in,
legal proceedings which opera~e to prevent the enforcement ot ~hc hen or (orfeiture of the Property or any part thereof.
S. Hwrd lnwranee. Borrower shall keep the improvementti now e!cisting or hereafter erec~ed on the Pmperty insured
againat loss by fire. hazards included withm the term "c~tended coverage"_ and siech other hazards ac Lender may reyuire
wd in such amounts and for sixh periods as Lender may requirc; provided, that Lender ~hall not reyuire that the amount of
such coverage exceed that amount of coverage requircd to pay the sums secured ~by this Mortgage.
'[l~e insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
t6at such approvat shall not be unreasonably withbeld. All premium~ on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or. ~f not paid in s~cch manner, b~• Borrower making payment, when due, direcily to the
iasurance carrier.
All insurance Ewlicies'and rencwals thereot shall tk in form areeptable to Lender and shall include a standard mortgage
dause in favor of and in form acceptable to Lender. L~nder ~hall ha~~e the right to hold ~he policies and renewalt ihereof.
and Borrower shall promptly fornish to Lender all rcnewal not~ces and all receipts o( paid premiums. In the event of loss,
Borrower shall give prompt notice to the imurance carrier and Lender. Lender may make proot of loss if not made promptly
by Borrower.
Unless 1_ender and Borrow•er othcrN~~r agrec in wnUng, imurancc pr~ecd~ shall bc applied to restorati~n or repair of
the Property damaged, provuled ~u~h retilorah~m or repa~r n economically feasible and thc security of th~s Mortgage is
not Ihereby impaired. If such re;toraUun or repa~r ~s nrt ~cunumically' (catible ur if the secunly of this Mortgage would
be impaired, the insurance proceeds shall be applird tu the sums xcureJ by this Mortgage, with the excess, if anp, paid
to Borrower. If the Proper~} n abanJemed h} Borrawcr, or il Bormw•cr (ails ro res~nd to I.ender within 30 days from thc
date notice iti mailed by I~nder tn Borr~~wer th~t the insurance carrier ofiers to settle a claim for insurance benefits, I.ender
is authorizeci to collect and apply the imurance pruceeds at I.enJer's option e~ther to restoration or repair of the Pmpem~
or to the sum~ secured by this Morigage.
Untess 1_ender and Borrower otherwix~ agree in wnting, any such application of prcx:eeds to pnncipal shall not extend
or poslpone the due Jate of thi: monthh• imtallmentc referred w in paragraph~ 1 and 2 hereof or change 1he amount of
such instalimeots. If under paragraph 12S hereof the I'roperty~ is acywred h} la:ndcr, ali nght, title and interest oE Borr~~wer
in and to any insurance policies and in and to the proceeds thereot resulnng from damage to the Propeny prior to th~ sale
or acquis~tion shall pass to Lender to the extent of the ~ums ~ecured by this tilortgage immediately prior to such sate or
acquisition.
6. Preservstioo and ~taintenance nf Property; lxatiehulds; ('undominiums: Planned Unit Derebpmenls. Borrowcr
shall kcep the Property in good repair and shall not comroit wastc ur permit impairment or deterioration of the Property
and shall comply with ~he provisions of any lease i( th~, W~~r~gage iti on a leaschald. If this Mortgage is on a unit in a
condominium or a planned unit development. Borrow~er ~hall perfurm all of Borrower's obligations under the declaratiun
or covenants creating or governmg the condominium or planned unit development, the by-laws and tegulationc of the
condominium or planned unit development. and conslituent d~kumentc. If a cundominium or planned unit Jevelopment
ricier is executed by Borrower ~nd recorded tugether with thi. M~~rtgage, the covenants and agreements of such rider
sh•r11 be incorporated into and shall amenJ and supplcment the covenants anJ agreem~nts of this Mortgage as if the riJcr
were a part hereof.
7. Proteciion of Lender's Security. If Borrower ta~l~ tn perfc,rm the covenants anJ agreements contained in this
Mongage, or if any action ur proceeding ic commenceJ which materially afTectc Lender's interest in the Propert~•.
including, but not limited to. eminent domain, inudvenc}~, code entc~rrement, or ~rrangements or proceedingc invoh~ing a
baakruptor decedent, then I~nder at I.ender's op~ion, upcm notice tn Borrower, map make such appearances, disburse such
sutns and take sueh action as is nececsary to protect Lender's interest, mcluJing, but not limited to. dizbursement of
reasonable attomey's (ees and emry uExm the Propcrty to makc rcpairs. I( I.cndcr rcyuired mortgagc insurancc as a
condition of making the loan secured by this Murigage. Bornr~-rr shall pay the premiumc required to maintain such
inturance in eftect unti) such time as ~he reyuiremem for wch msurance terminateti in accordance with Bormwer s anJ
~~~K346 Y~~E ~43 . .
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