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UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows
1. Paym~nt ol PNncip~l and Int~hst. 8orrowe~ shali p~omptly pay when due Ihe pnncipal ot and mterest on the
mdebtedness ev~denced by the Note, prepayment and Iate charfles as p-ov~ded in the Note, and the p~~nc~pal ol and mterest
on any Future Advances secured by thls Mortgage.
Z. Funds to-Tax~s and In~uanc~. Sub~ect to appl~cabie taw or to a wr~tten wa~ver by Lender, Bo-rower shaii pay
to Lender on the day monthly installments ol principal and inlerest are payable under the Note, unt~l lhe Note is pa~d In lull,
a sum (here~n "Funds") equal to on~lwelith of the yearly taxes and assessments wh~ch may attain pnonty over th~s
Morlgage, and ground rents on the Property, ~I any, plus one-tweltth ol yearly premwm mstallments tor hazard insurance.
plus one~Mrellth ol yea-ly premium installments for mortgage msurance, rf any, au as reasaonably esUmated ~n~UaUy and from
time to time by Lender on the basis ol assessments and bills and reasonable estimates thereof.
The Funds shall be held in an institution lhe deposits or accounts ot which are insurecl o- guaranteed by a Federal or
state agencyl~ncluding lender it Le~der is such an institution). Lender shalt apply Ihe Funds to pay said taxes, assessments.
insurance premwms and ground rents. Lender may not c~arge tor so hotding and applying the Funds, analyzing said account,
or verifyfng and compilfng said assessments and b~lls, unless Lender pays Borrower ~nterest on the Funds and appl~cable law
perm~ts Lender to make such a charge. Borrowe~ and Lender may agree ~n writing at the l~me ot execution ot th~s
Mortgage that interest on the Funds shall be paid to Bor-ower, anv uniess such agreement ~s made or applicable law
reqwres such mterest to be pa~d, lender shall not be required to pay Borrower any lnterest or earn~ngs on the Funds. lender
shall g~ve to Borrower, w~thout charge, an annual accounting ot the Funds showmg credits and deb+ts to the Funds and the
pu~pose for which each debit to th@ FunaS vKas made, The Funds are pled9ed as addiuqnal seeurity lor. the sums secured
by this Mortgage. •
If the amount of the Funds held by Lender, toget~er with Ihe future monthly installmenls ot Funds payable pnor to
the due dates of taxes, assessments, insu~ance prem~ums and ground rents, shall exceed lhe amount required to pay said taxes,
assessments, insurance prem~~ms a~d grouncl rents as they tall due, such excess shali be, at Borrowers option, e~ther
promptly repa~d to Borrower or credited to Bor-ower on monthly ~nstallments ot Funds. It the amount ot Ihe Funds
heid by Lender shall no1 be su~~~cient tQ pay taxes, aSS6s~ments, insurance premiums and ground rents as they Ial1 due.
Borrower shall pay to Lender any amounl necessary tq ma e up the def~c~ency wlth~n 30 days from the date not~ce ~s maiied
by Lender to Bor~odver requeStmg`~daymen~lhereot ~
Upon payment in lull'ot aI1~SUlns Secu~ed by th~s Mortgage,:Lende~ shall promptly refund io 8orrower any Funds
held by Lender. ii under paragraph~~t 8 hereot the Pwp,ertYrs•sold or the Property ~s otherw~se acquired by Lender, ~ender
sha~l apply, no later than immed~ately prior to the sale ot the Property or ~ts acquisit~on by Lender, any Funds held by
Lender at the t~me of appl~cation as a credit againsl the sums secured by this Mortgage.
3. Applicatlon ot Paymenb. Unless appl~cabte law prov~des otherwise, ali payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applled by Zender tust in paymeFlt of amour.ts payable to Lender by Borrower
under paragraph 2 he-eot, then to ~nterest payable on the Note, then to tRe pr~nc~pai ot the Note, and then to ~nterest and
pnncipa! on any Future Advances.
4. Che-pes; Uens. Bonower shall payalt taxes. assessments and othercharges, fines and impos~tions attnbutable to
the P-operty wh~ch may atta~n a pnor~ty over thls Mortgage, and leasehold payments or gound rents, it any; in the manner
prov~ded under paragraph 2 hereof or, it not paid m such manner, by Borrower mak~ng payment, when due, directly to ihe
payee thereot. Borrower shall promptly furn~sh to Lender a11 notices ol amounts due under this paragraph, and ~n the event
Borrower shall make payment d~rectly. Borrower shall prompily lurnish t0 lender receipts evidencing such payments.
Borrower shall promptly d~scharge any I~en wh~ch has pr~or~ty over this Mortgage: provlded, that Borrower shall not be
requ~red to discharge any such lien so long as 8orrower sha11 agree in wrlling to !he payment o1 the obtlgat~on secured by
such I~en i~ a manner acceptable to lender, or shall ~n good ta~th contest such Iien by, or defend entorcement ot such t~en ~n.
lega! ~Sroceedmgs which operate to prevent the entorcement of the~~en or torieiture of the Property or any part thereot.
5. Hazard Insurance. Borrower shatl keep the ~mprovements now ex~stmg or hereafter erected on the Properry Insured
aga~nst loss by lire, hazards ~ncluded w~thm the term "extended coverage', and such other hazards as Lender ma~r reqwre
and m such ~mounts arld tor ~uch ~riods as L•erltler teq~ire: prov~ded, that Lenrie'r shalt nof ~~eq~~re that the ambum of
such cover8g~ exceed thal atl~oum of coverage reqw~etl to pay the~sum secured by th~s Mortgage. ' ~~ °~.a
The msurance carne- provid~ng the msurance shall b~a chosen by B~~rower sub~ect~to appraval by Lender, provided.
that such approvat shall not be unreasonably w~thhetd. All prermums on ~nsurance polic~es shall be pa~d m the manner
prov~ded under paragraph 2 hereol or. ~t not pa~d ~n such manner, by Borrower mak~ng payment when due. d~rectly to the
msurance carner. ' ~
AI~ ~nsurance poi~c~es and renewals thereot shatl be m form acceptabie to Lender and shall ~nciude a standard mortgage
clause m tavor oi and ~n torm acceptable to Lender. Lender sha11 have the r~ght to hold the pol~aes and renewals tnereof.
and Borrower sha~! promptly furn~sh lo Lender all renewal not~ces and all rece~pts ot pa~d prem~ums. In the event of Ioss.
Borrower sha11 give prompt not~ce to the ~nsurance carr~er and Lender. Lender may make proof of loss if no~ mad~promptly
by Borrower.
~ Unless Lender and Borrower otherw~se agree in writing, ~nsurance proceeds shall be appl~ed to restoration or repair of
the Properiydamaged, provideA 9uch restorat~on or repair ~s econom~cally teas~ble and 1he secur~ty of th~s Morlgage ~s
not thereby ~mpa~~ed. II such restoraUOn or repa~r ~s not econom~calty leasible or if the secur~ty of th~s Mortgage would
be ~mpa~red. the insurance proceeds shall be appl~ed to the sums secured by this Mortgage, w~th the excess, ~f any, pa~d
te Borrower. II the Property is-abandoned by Borrower, or il Borrower fails to reSp4nd tp ~.gnder w~thin 30 days from ihe
date notice ~s ma~led by Lender to Borrower that the ~nsurance carrier offsrs to settle a c~aiin tor ~nsurance benet~ts. Lender
~s auih~~ted to coNect antl apply the ii~surance proceeds at Lenaers option e~tMer to iestoration or repa~r ot the Property
or to the sums secured by th~s Mortgage. • •. ~
Unless Lender and Borrower otherw~se agree ~n wr~t~ng. any such appl~cat~on of proceeds to prmc~pal sha1l not extend
o~ postpone the due date of the monthly ~nstaiiments referred to ~n paragraphs t and 2 hereot or change the amount of
such ~nslatlments. It under paragraph 18 hereof the Property ~s acquired by Lender. aii nght iitle and interest ot Borrower
m and to any ~nsurance pol~c~es and in and to Ihe proceeds thereof result~ng (rom clamage to the Property pnor to the sale
or acqu~s~tion shall pass to Lender to the exfent of Ihe sums secured by th~s Mortgage immed~ately prior tb such sale or
acquisi;~on.
6. Praservstlon and Maintenancs of Propsrty; Lesseholds; Co~dominiums; Plannsd Unit Developmsnts.
Borrower shall keep the Property ~n good repa~r and shall not comm~t waste or perm~t impa~rment or deter~oratior of the Pro-
perty andshall comply with the prov~sions ot any lease it Ih~s Mortgage ~s on a Ieasehold. If thls Mortgage ~s on a urnt m a
condominium or a~.~anned urnt developmenl. Borrower shall pe~form all ot Borrower s obl~gat~ons under the declarat~on
or covenants creat~ng or governmg the condom~nium or planned urnt development, the by-laws and regulations of the
condom~rium'or planned urnt tievelopment, and const~tuenCdocumenl~. N a~ondom~n~um or ptanned un~t development
rider is executed by Borrower and recorded together w~th this Mortgage. Ihe covenants and agreements ot such r~der
shall be ~ncorporated mto and shall amend and supplement the corenants and agreements ot th~s Mortgage as ~f the r~der
were a pa~t hereot A ~
7. Protection of Lendsrs Sscurity. If Borrower ta~ls to perlorm the covenanis artd agreemgnts contained in th~s
Mortgage, or ~f any act~on or proceed~r.g ~s commenced wh~ch matenally attects Lenders ~nterest in the Property.
mcluding, but not I~mited to, emment doma~n, msolvency, code entorcement, or arrangements or proceedings mvolv~ng a
bankrupt or decedent, then Lender at lenders opt~on, upon not~ce to Borrowe~, may make such appearances, d~sburse such
sums and take such act~on as ~s necessary to protect Lenders interes~ includmg, but not iim~ted to, disbursements of
reasonable attorneys tees and entry upon the Property to make repairs. It Lender requ~red mortgage insurance as a
condition of making the toan secured by lhis MoRgage, Borrower shall pay ihe prem~ums required to mamta~n such
~n;urance ~n eltect until such t~me as tne requ~rement for such msurance term~nates ~n accordance w~th Borrowets and
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