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UNIFORM COVENANTS Borrower and Lencter covenam and agree as foiiows
1. Paym~nt of P-incipal a~d Int~~~st. Borrower snall promptty pay when due Ihe pr+nc~pal ot anU ~nteresl on ihe
~ndebtedness awdenced by the Note; prepayment and tate cnaryes as piov~ded ~n the Note, and the pnnc~pal 01 and inlerest
on any Future Advances secured by Ih~s Mortgage.
2. Fu~ds fo~Tsxes and Insuance. Sub~ect to appl~cab~e iaw or to a w~~uen wa~ver by lencier, Borrower shaii pay
to Lender on the day monthly installments ot prmc~pat and mterest are payable unde~ the Note, unt~l the Note ~s pa~d ~n tu11.
a sum ~he~e~n ~~Funds'1 equal b on~twelflh of the yeariy taxes and assessmenis wh~ch may atta~n p~~only over th~s
Mortgage, and ground rents on the Property, ~f any, plus one-tweitth ot yearly prem~um ~nsiallments lor hazard ~nsu~ance.
plus onetweHth ot yearly premium ~nstatiments for mortgage ~nsurance, ~f any, all as reasaonablyesamated ~rntially and from
t~me to t~me by Lender on the bas~s ot assessments and b~ils and reasonable est~mates thereot
The Funds shall be held m an ~nshtulion the depos~ts or accounts ol whl:,h are msured or guaranteed by a Fecleral or
state agencyl~nciud:ng ~entler ~t ~ender ~s such an ~nst~tul~on) Lender shail apply the Funds to pay sa~d taxes, assessments.
~nsurance prem~ums and ground rents. Lender may not charge lor so hotdmg and applying the Funds, analyz~ng said account.
or verdy~ng and compihng sa~c7 assessments and b~ns. un~ess lender pays Borrower mterest on me Funds and apphcab~e Iaw
perm~ts lender to make such a charge Borrawer and Lender may agree ~n wr~t~ng at the t~me of execut~on of lh~s
Mortgage that mterest on the Funds shaii be pa~d to Borrower. a~d unless such agreement ~s made or appl~cable iaw
requues such ~nterest to be pa~d. lender shall not be req:-~rQd to pay Borrower any ~Merest or earrnngs on the Funds Lender
shall g~ve to Borrower. w~thout charge. an annual account~ng ot the Funds show~ng cred~ts and deb~ts to ihe Funds and the
purpose tor wh~ch each deD~t to the Funds was made. The Funds are pledged as add~t~ona~ ~ecur~ty lor the sums secured
by this Mortgage. .
If the amount ol the Funds held by Lender_ together wi!h ihe tuture monthly mslallments ot Funds payab~e pnor to
the due dates of taxes. assessments. ~nsurance prem~ums and gr~und rents. shau exceed the amourn reqwred to pay said taxes.
assessments. ~nsu! nce remiums and round rents as the ta11 due. such e@ ~~ either
promptty repa~d toaBorrower or cred~led to Borrower on monthiy mstailm~o~~u~~ .S It th b,i~`~r~j,~ th~e Funds
he~d by Lender shati not be suft~aent to pay taxes. assessmeMS ~nsu~ance prem~urns and c,~l~ ~N~~1F~ey tall d e,
Borrower shall pay to Lende~ any amount necessary to make up the def~c~ency ~tt~3Q d9X~f~~~~~~~~+~~
by Lender ro Borrower request~ng payment thereof . qr _ ,, ,•..• .., ,,,,~7~•~ _•-.}aDn-'~
Upon payment in tuli of al; s~ms secured by th~s Mortgage. Lender shAll`~Srafnpt~y refuhd to Bo~rower any Fund~;,-
he~d by Lende- If under paragraph 18 hereol the Property ~s solci or the Property ~s olhen+wse acqw~ed by Lender. ~ender
shatt apply. no later than ~mmed~ately pr~or to the sa~e of 1he Prope-ty or ~ts acqws~t+on by Lender. any Funds held by
Lende- at the t~me ot appl~cat~on as a cred~t aga~nst the sums secured by th~s Mortgage
3. Application of Payments. Unless appl~cable law prowdes otherw~se. all paymenis rece~ved by Lender under the
No!e and paragraphs 1 and 2 hereol shali be appi~ed by Lende~ t~rst m payment ot amounts payabie to Lender by Borrower
under paragraph 2 hereof. Ihen to mteresl payable on the Note. tnen to !he prmc~pal ot the Note. and then to ~nterest and
pr~nc~pal on any Future Advances
4. Charges; Lians. Bcrrower snaU pay aU taxes. assessments and other charges. f~nes and ~mpos~Uons attnbutab-e to
the Property wh~ch may at~a~n a pr~or~ty over t!:~s `~Aortgage. and ieasehoid payments or gound renis. ~t any, m the manner
prov~ded under para~rapn 2 hereof or ~f r.ot pa~d ~n such ma~ner, by 8orrower mak~ng payment. when due. d~rectly to the
payee thereof Borro~ver shall promptty furn~sh to Lender ail not~ces ot amounts due under th~s paragraph, and ~n the event
Borrower shait make ~ayment d~rectiy Borrower sha~: promptly turnish to Lender receipts evidenCing such payments.
Borrower sha~~ p~omptty d~scharge any t~en wh~ch has pr~o-~tv over th~s Mortgage, prov~ded. that Borrower sha(I not be
requ~red to discharge any such nen so long as Borrower shau agree ~n wrihng to the payment of the obtigaUon secured by
such I~en ~n a manner acceptabie to Lender. or shail ~n good ta~th contest such i~er. by. or defend entorCement of such I~en ~n.
legai ~Sroceed~ngs wh~ch operate to prevent the entorcement of the I~en o- lorfe~ture ot the Pioperty or any part thereof.
5: - Hazard InsuranCe. Borrower shall keep [he ~mprovements now ex~st~ng o- hereafter ereCtec7 on the Property msured
aga~nst loss by t:re, nazards ~nciuded w~th~n the term ~ extended coverage'. and such other hazards as Lender may requ~re
and ~n such amourits and tor such per~ods as Lender requ~re, prov~ded. that Lender shall not requ~re that the amount ot
such coverage exceed ihat amount of coverage requ~red to pay the sum secured by th~s Mortgage.
•The ~nsurance carr~er prowd~ng the +n;,urance shaii be chosen by Borrower sub~ect tc approval by Lender. prov~ded.
that such approval shan not 5e unreasonab~y w~thhetd A!! prem~ums on ~nsurance po~~c~es shall be pa~d ~n the manner
prov~deci unde! paragraph 2 ne~eo! a~f nor p~~~, ~r, SUCh ~~c~!~nE'~ by Borrov.er rr.ak~ng payment. when du2 d+rectly to the
~n;urance carr~er
Alt msurance pol~c~es an~ renewais thereot shatt be m torm accepta~le to lender and shail ~nctude a standard mortgage
clause m favor of and ~n form acceptab!e to Lencier Lender shall have the r~ght to hotd the pol~c~es and renewats thereot.
and Borrower shall promptly furrnsh to Lender a~l renev~a? not~ces and a~i ~ece~pt~ ot pa~d prem~ums. In the event ot loss:
Borrower shaH g~ve prompt nohce ia ihe ~ns~ranCe Car!~e~ and Lenver Lende~ may make proof of ~oss ~f not made-promplly
by Bor+owe-
Unless Lender and Borrower oiherw~se agree in wnUng. ~nsurance proceeds shan be app~ied to restorahon o- repa~r ol
the Property damaged. prov~ded such restorat~on o- repa~r ~s econom~cauy feas~b~e and the secur~ty of th~s Mortgaye ~s
not thereby ~mpa~red if such resioration or repa~~ ~s not econom~caliy feas~ble or ~f the securety of th~s Mortgage wo~ld
~e ~mpa~red. the ~ns~rance proceeds shall be app~~ed to tne sums secured by th~s Mortgage. wrth Ine ex~ess. ~f any, pa~d
to Borrowe- If the Property ~s abandoned by Borrowe~ or ~1 Bo-rower ta~ts to respond to i.ender w~th~n 30 days trom the
date not~ce ~s ma~ied by Lender te Borrotiver that the:nsu-ance carner oflers to settte a cla~m for msu~ance benetds. Lender
~s author~zed to coilect and appiy ine ~nsurance p-oceeds at Lender s ophon e~ther to restorat~on o- repa:r ot the Prope~ty
or to the sums secured by th~s `~1o-tgage
Unless Lende~ and Borrovrer otherv+~se ag~ee ~n wr~t~ng any such app+~cat~on ot proceeds to pnnc~pal sna!i not extend
or postpone the due date af the monihly ~ns~a!~me~ts r~!e~reU ro ~n paragra;.hs t and 2 nereo' or change the amount of
such ~nstai~ments If ~nder paragra;:h t 8 he~eof the Properiy ~s acqu~~ed by Lender. a~, rrgM. ntle and ~nterest of Borrower
m an~ to any ~nsurance pol~c~es and ~n and to rne proceeds mereof resu~t~ng from damage ro the Propsrty pn~r to ihe sa~e
or acquss~t~on shalt pass to Lender to the extent ot tne sums secured by th~s Mo-tgage ~mmed~ately pr~or lo such sale or
acqu~S~I~on.
6. Preservation and Maintenance of Property; Leaseholda; Condominiums; Planned Unit Developments.
Borro,~rer shall keep the Property ~n good repa~r and shaii not comm~t waste or perm~t ~mpa~rment o-deter~orat~on of the Pro-
perty a~ ~ Shail Comply wilh the provisrons of any +ease ~t th~s Mo-tgage Fs on a leaseno'd It th~s Mortgage ~s on a un~t ~n a
condomm~um or a p~anned u~~t deve~opment Borrower shatt perform a~i of Borrowe- s obhgaUOns undei the declarabon
or cover,ants creabng o- govem~ng ihe condom~n~um or planned un~t devel~pment. the by-laws and regulat~ons of the
condom~n~um or planned un~t development. and constrtuent documents If a condom~n~um or planned urnt development
r~der ~s executed hy Borrower and recorded together w~th th~s ~lorigage. the covenants and ag-eements ot such nder
sha1l be ~nco-po~ated ~ntu and sha~I amend and supp~ement the covenants and ag~eements of th~s Mortgage as ~f the r~der
were a pa~t hereof
7. Protection of Lende~'s Security. ~f Borrower fa~is to pe~torm the covenants and agreements conta~ned ~n th~s
Mortgage. o~ ~f any acuon or proceed~ng ~s commenced wn~ch mater~atiy aftects Lenders ~nterest m the Property.
inciud~ng. but not t~m~ted to, em~nent doma~n. ~nsolvency. code enforcement. o- arrangements or proceed~ngs ~nvclv~ng a
bankrupt or decedent. ihen Lender at Lender s opt~on. upon norce to Borrower. may make such appearances. d~sburse such
sums and take such act~o.r, as is necessary to protect lenders mterest ~ncluding. but nol I:mited to. d~sbursements ot
reasonable attorney s tees and entry upon the Property to make repairs. It Lende~ required mortgage ~nsurance as a
Cond~t~on oi mak~ng the loan secured by th~s Mortgage. Borrower sha11 pay the prem~ums requ~red to ma~nla~n such
msurance m etfect u~t~l such t~me as tt~e requ~rement for suCh msurance term~nates ~n accordance w~th Borrowers and
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