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UNIlORI[ COVENANIS. BotTO~wer and Lender covenant and aaree u follows:
l. h~weN N hMe1M1 a~i lefen~t. Borrower shall promptly pay whe~ due the principal of and intercst on the
in~ebtedoas evideooed by the Note, prepayme~t and late chargec ac p~ovided in the Note, aod the principal of and interest
en aay Future Advances secured by this Mortgage.
_. I~ds tor Tata ~i I~wrs~ce. Subject to applicable law ar to a writ~en waiver by Lende~. Borrower shall pay
to Lender on Ihe day month~jr installmen~s of principal and ~n~crcu arc payable under the Note. unti) the Note is paid in tull.
s tum (herein "Fu~ds") equal to one-twelfth of the yesrl~~ ta~-c. anJ asxssments which may attain priority ove~ ~his
Mortsa~e. artd ground rents on the Proper~y, if aoy, plus one-tweltth of yea~ly prcmium insullments for hazard insurance.
plus oae-twelfth of yearly premium installments tor mo~tgage insurance. if any, all as ressonAbly estimated initially and trom
time to time by Lender on tho buis of asses~ments and hills a~d rea~onable estimata Ihereof.
The Funds shall be held in an ins~itution thc deposits or •rccounts of which are insurcd o~ guaraoteed by a Federal ot
state agency (includin~ Lender it Lcnder is such an institution). I.eoder ahall apply the Fuods to pay said taxes. asscssments.
insurance ptemiums and grouod rcnts l.ender may no~ charge Ior so holding and applying ~he Fimdc. analyzing caid account.
or verifyin~ aod compling uid assessments and bill~, unless I_ender pays Borrowe~ inlertst on the Funds and applicable law
permits Lender to make such a charge. Borrower and Lender may agree in writing at the ~ime af ezecution ot this
Mottgaae that interest on the Funds shall be paid to Borrower, and' unless such agreemen~ is made or applicable law
rcquira such intercst to be paid. Lender shall not be rcquired to pay Borrower aoy interat or earniogs on the Funds. _!_endtr
shall givt to Borrower, without chat~c, a:. annual accountiog af the Funds showing credils and debits to the Funds and the
purpost for whicfi eaeh debit to the Funds wu made. The Funds a~e pledged as additional ucuriry for the sums secured
by this Mortaage.
If the unount of the Funds held by Lender, together with thc future monthly instaliments of Funds payable prior to
the due data of laxes, assessments, insurance premiums and ground rents, shall exceed the amount reyuired to pay said taxes,
a:seua~ents, insurance premiums and ground rents as they (all due, such excess shall be, at Borrower's opt~on, either
pranptly repaid to Bormwer or credited to Borrower on mo~thly ins~allments of Funds. If the amount o( thc Funds
heW by Lender shall not be suf6cieot to pay taxes, assessments, insurance premiums and ground rents as they fall due,
BormMer shall pty to Lender any amount noc~ssary to make up the deficiency within 30 days trom the date notice is mailed
by l.ender to Borrower roquesting payment thereof.
v~ wy~a~ in full of all sums securcd by this Mor~gage, l.ender shall promptly refund to Borrower any Funds
heW by Lender. I[ undtr puagraph 18 hercot the Propetiy u sold or the Property ~s othervvix acquircd by Lender, l_enckr
shall apply. no later than immediately prior to the sale of the Propeny or i~s acquisition by Lender, any Funds held bv
Lender at the time of applicatio~ as a credit aga~nst the sums secured by this Mongage.
3. Application of Paymenls. Uniess applicable law provides otherwix, all payments received by t_ender under the
Note and paragraphs 1 and 2 hereof shall be applied by I.enJer 6rst in payme~t of amounts payable to t_ender by Borrower
under puagraph 2 hereof, then to interest payable on ihe Note, then to the principal of the Note, and then to interest and
pnncipal on any Future Advances.
~. C6arEts; Utns. Borrower shall pay all taxe~, acxs~mrnls and uthrr charges, finec and ~mpotiitions attnbutable to
tl~e Property which may attain a pnority over this Mongage, and tea,ehold payments or grounci rents, if any, in the manner
provided under paragraph 2 hereof or. ~f not paid ~n cuch manner, by Borrower making payment, when due, d~rectly to the
payee theteof. Borrower shall promptly furmsh to LenJer all notices of amounts due under this paragraph, and in the event
Borrower shall make payment d~recUy. Borrower shall promptly (urn~sh tu I.ender receipts evidencing such payments.
Borrower shall promptly discharge any lien which has pnunty over ~h~c Mongage; prov~ded, that Borrower shall not be
required to discharge any such lien so long as Borrower shall agrer in wnung to the payment of tht ob6galion secured by
such lien in a manner acceptable to Lender, or sb~ll in g~x~d taith conte.t ~uch lien by, or defend enforcement ot such lien in,
Itgal proceed~ngs which operate to prevent ~he enforcement ot the I~en ar tor(eiture ot the Property or any part thereof.
S. Hwrd lnsurance. Borrower shall keep the impruvement. na~ eaisung ur hereafter erected on the Property ~nsured
against loss by fire, hazards included with~n the term "cttended coverage", and such other hazards as I.ender may reyuire
and m such amoums and for such periods as l.ender may reyuire; provideJ, that LenJer shall not require that the amount of
such coverage exceed that amount of coverage requ~red to pay the sums secured ~hy th~s MortRage.
'il~e ~nsurance carrier providinR the insurance shall be chosen by Borrower subject to approval by Lender; provided.
that such approval shall not be unreasonahly withheld. All prem~umc on insurance polic~es shall be paid ~n the manner
provided under paragraph 2 hereof or, ~f not paid in such manner, b}• Borrower mak~ng payment, when due, directly io ihe
insurance carrier.
All insurancr policies and reneaals thereof shal{ be in (orm arceptablc to LenJer and shall include a ttandard mortgage
clause in favor of and in form acceptabl~ to Lender. Lender shall have the right to hoW the policies and rene..als thereof,
and Borrow~er sh•rll prompNy (urmsh to Lender all renewal notices and all receipts of paid premiumti. ln the event of los~,
Borrower ~hall give prompt nouce to the insurance carner and I.ender. I_ender ma} make prex~t of ~oss if not made ~mmp~lp
by Borrower.
Unless LenJer and BorroNer otherw~.c agrec m~nt~ng, imurance pr~xecds shal) be applied to resroration or rep:+it ot
the Property damaged, provided ~uch retitoration or repair is economicallJ~ (easibte and the securily of th~s Mortgage is
not ~hereby impaired. 1t such restorat~on or rcp:+ir is ni~t ca~n~~mically fcasiblc or if the secunty of th~s Mo~tgagc w~ulJ
be impaired, the insurance proceeds shalf be epplieJ tu the sums secureJ by thic Mortgage. with the excess, if an~•, paid
to Borrower. If the Propert~~ ~s ahanduneJ by B~-rrower. or it Borrower tailt to respond to 1_ender within 30 days trom Ihe
date not~ce ic ma~led by Lender to Burrower that the iniurance carrier ofiers to settle a. claim for insurance benefits, l.ender
~s auth+~rited to collect and apply the imurance proceeds :+t I.ender'ti ophun euher to res~oration or repa~r of ihe Prc.pen~•
or to the sums secured by ~his Mortgage
Unless Ixnder and Borrower otherv-iu: egree m unting, an} wch application i~f pnxeeds to pnncipal shall not e•tend
or postpone the due Jate ot the momhlt installmcnt~ rrferred tu in paragraph. -1 and 2 hercof or change the amount of
such installments. I( unJer paragraph 18 hcreof thc Proµrt} u acywreJ by l,endcr, ali nght, Utle and in~erest ot B~rn~wcr
in and to an} Insurance po'icies and in and to thr proceedti thcreof resulting from damage to the Property priRr tu thr ~c,le
~ or acquisition ~hall pass to Lender io the e~tent u[ the sums aecured by thi~ l~tortgagc ~mmediately prior to ,uch sale or
acquisition.
6. Presenation ~od ~t~inten~nce ot Propert~: Lea_uholds; ('ondominiums; Planned Unit De~•dopments. HorroMCr
shall ~cep the Property in goud repair and shall not ~omrDit ytiaste ur permit impaument or deterioration~ of the Property
and shall compl~• with the proviswns of any lease if thi. Murtgage ~. un a Icasch~~ld. If this Mortgage is on a imit ,n a
condominium or a planned unit de~elopment. Borrower ,hall ~ rturm all of Borrower's obhgauons under the dccl:~rati~~n
or covenants creabng or guverning ~he condomimum or planned unit devel~~pmem, the by-laws and regulation~ of the
condominium or planned unit devel~~~,ment, .,nd co~stiturm ~l~xumem~ If a cun~ominium or planned ~mit Jevel~pment
nder is execuied by f3orrower and recorded t~~gether w~th ~h~~ Mnrtgage. the covenants and agreements ~f ~i~ch n~1~r
shall be incorporated into and sh~ll amend an~ tiupplement the cu~cnanls and agreements c~f th~s Mortgage as if the n~1er
were a part i;ereof. • ,
7. Proteilion of I.enders Secu~iry. 1f H~•rr~~wer f.ul. t~+ Fxrt~~rm the covenants an~l agreements contained in th~s
Mortgage, or i( any achon ur prckeeding i~ c~~mmcnce~l whicn matcrially etTe~Iti I en~ler'~ antere~t in the Pri~Exrl~.
including. but n~~t lim~ted to. emincnt domain. m«~hcn.y. ~udc r~f~~ricment. ~~r :uranRcmrnts iir pruceedings invul~ing a
bankrupt or decedent. then Lender at I.ender'. opt~on, up~m not~ce to Borrower, ma} m:,ke such appearanees, dishur~e such
sums and take such ac~ion ati ~s neces.ary tu pmtect t.ender'; mterest. including. but not limised to. disburseme:~t of
reasonable auamey's fcc~ and entry iip~~n the Propern~ to makc repairc If Lrnder reyuireJ mortgage in~ura.nce as a
condit~on of making thc loan ucureJ b} this ~tc~rtg.+gc. Berrr.NCr sh.dl pa)' thc prem~ums requireJ to mainta~~ such
~nsurance in efTect until such time as the reywrement for wch in,uran:e terminalr~ in accordance with Bormwer'ti and
s~~x349 ~a~~E~.7`~$
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