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UNIFORM COVBNANi'~. Bo~ower and Lende~ coveoant and a~-a u tollows:
1. ~jrweN o~ hrel~i a~i tNstest. 8o~rower shall promptly pay when due the principal ot and interest oo the
indebtedt~est evidenced by tbe NWe. Prcpaymeot and Iste chargea ac provided in the Note, and the principsl ot and intertst
on aoy Futur+e Advances securod by this Mortgate.
2. Fwi tor Ta:M ~ twrs~ce. Subject to applical+k law a~ to a wri~ten waive~ by Leoder. Borrower shall pay
to Lender on ~he day monthlr instaltments ot p~incipal and inic~c~t arr payaf+le under ~he Note, until the Nott is paid in (ull.
a sum (herein "Fur~'~ oqwl to one-tweltth of the yearl~ u~-~~ anJ assasmen~s which may attain priority over this
Mo~aje. and ~round cents on t!n Property, i( any, pfus one-~weltth ot yearly premium installments tor hazaod insurance.
plus one-twelfth of yearly premium installmen~a ior monga~e insurancc. i( any, all as rcasanably estimated initially and trom
time to time by Lender on the buis of assescmcn~s and hills and reaao~able eslimates thercof.
The Funds shall be held in an insti~ution ~he depos~t. or accounts of which are insurcd or guaranteed by a Federal ot
state s~ency (including Lender if Lender is such an institutioo). I.ender ahall apply the Funds to pay said taxa. asseuments,
ittiunnce premiums and ground rcnts. I.ender may not charge 1or so holding and applying ~he Fondc. analyzing caid account.
or verifyin~ and compiling said assessments and bills, unleu t_ende~ pays Bortower intetest on the Funds and applicable law
permits Leoder to make such a chargt. Bc~r~ower and Lender may agrce in writing at ~he timc of eaecution ot this
Mortgaje that interat on the Fut~ds shall be paid to Borrower, and unless such agrcement is made or applicable law
requira such intercst to be paid. Lende~ shall not be required ta pay Borrower a~y interest or earnings on the Funds. 1_ender
shall aive to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds aod the
purpox for which tach debit to the Funds wu made. The Funds arc plodged u additional cecunty for the sums stcured
by this Mortaaae.
If the amount ot the Funds held by Lenckr, toge~her with the future momhly installments of Funds payable p~ior to
tht due data of tues, usessmenu, insu~ance prcmiums and ground rents, shall exceed the amount requircd to pay said taxa,
a:sewnents, insunnce prcmiums and ground rents as they (all due, such excess shall be, at Borrower s opl~on, either
promptly repaid to Borrower or credited to Borrowe~ on monthly ins~allments of Funds. lf the emuunt of thc Funds
held by L.ender shall not be suf6cieat to pay taxes, asses~nsnts. inspr+noe pnanwms.and ground rents u they fall due,
Borro~-er shall pay to Lender any amount necasa+y to make up the deficiency.within' 30 days trom the date notice is mailed
by Lender W Borrower requestin8 paYment ~hercof.
Upon paymeat ia full of all ~ums securcd by this Mortgage, I.ender shall promptly rctu~d to Borrower any Funds
held by L.ender. If under puagraph 18 hercof tho Property i~ sold or the Property ~s olherwise acqu~rcd by Lender, l.cnder
shall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender, aoy Funds held hv
Leoder at the time of application u a credit against the sums securcd by this Mortgage.
3. A~plication ot Pay~eats. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragriphs 1 and 2 hereof shall be app6ed by 1_ender 6Rt in payment of amounts payabie to LenJer by Borrower
under paragraph 2 hereof, then ta interest payable on the Nete, then to the principal of the Note, and then to interest and
principal on any Futurc Advancu.
1. Chartes; Lk~. Borrower shall pay all taxes. atsrssmcnts and othcr charges, fine~ and ~mposihons aunbutahle to
the Property which may attain a priorily over this Mortgage, and leasehold payments or ground rents, if any, in the manner
provided under paragraph 2 hereof or. if not paid m such manner. by Borrower making payment, when due, directly to the
payee the~+eof. Borrower shall promptly furnish to Lender all no~~ces of amounts due under this paragraph, and in the event
Bomower shall make payment direcUy. Borrower shall promptiy :a:r.^.;:~~!^ ! P^•ie~ rerei~tc evidencmg such payments.
Borrower shall promptly discharge any lien which has pr~onty over thic Mortgage: provided. that Borrower shall not be
reyu~rcd to discharge any such lien so long as Borrov-er sha11 ~gree io wrnmg to the pavment ot the oblig3lion secured by
such lien in a manner acceptable to Lender, or ~hall m go:xi [a~th contrti~ such lien by, or defenJ enforcement of such lien in,
legal proceedings which operate to prevent ~he enfurcement of th~ I~en nr forfeiwre of the Property or any part thereof.
S. Hazard Insurance. Borrower shall keep the improvememt noK e~icung or hereafter erected on the Property insured
agaiqst loss 5y 6re, hazards included withm the term "eitendeJ roverage", ar~d such other hazardc as I_ender may reywre
and in such ameunts and for such perio.~s as Lender may requ~re: provideJ, that Lender shall not rcquire that the amount of
such coveragr exceed that amount of coverage requ~red ~o pay ihe tumz tecured ~by this Mort~age.
The insurance carrier providing the insutance shall be chosen by Borrower subject to approval by Lender; provided,
that such approval ~hall not be unrcasonably withheld. All prem~um~ on insurance policies shall be paid ~n the manner
provided undrr paragraph 2 hereof or, if not pa~d in tuch manner, b} Bc~rrower mak~ng payment, when due, directly to the
insurance carrier.
All insurance puGcies and renewals therrof shall be in form acceptable to Lendrr and shall ~nclude a uandard mortgage
clause in favor of and ~n form acceptable to I_ender. I_ender chall have the riRht to huld the policies and re~ew~als thereof,
and Bortower shall promptly furmsh to Lender all renewal notices and ali receip~s of paid premiumti. In the event of loss,
Borrower shall grve prompt n~tice to the inwrance carr~e~ and LenJer. Lender ma~ make proot ot loss if not ~nade promptly
by Borrower.
Unlest Lender and Borrov-er otherw~u: agrer ~n wn~ing. insurance prcxerd~ shall be applied to rectoration or repair of
the Property damaged, prov~ded such re.torat~u~~ or repair ~s economically teas~Me and the security of this Mortgage ~s
not thereby impaired. It such restoration or repair is not rconom~cally feasible or i( the secunty of this Mortgage would
be impaired., the insurance proceeds shall be aPplied to the sums secureJ by this Motigage, w~th the excess, if a~}~, paid
to Bo~rower If the Property is abandoned hy Sotrower, or ~t Bormwer (a~h t~~ respond tc- t.endcr within 30 days from the
date notice is ma~led by Lender to Borruwer that the insurance ~arrier otiers to ~e~ile a claim for insurance benefits, I_enJer
ic aut6oriTxd to collect and apply the inwrance proceedi at I.endcr'ti op~~on either to restoration or repa~r o( the Propert~~
or to the sums secureci by this tilortgage.
Unless Lender and Borruwer othen+~tic agrcc ~n wnt~ng, am such application uf pnkceds to pnnapal shall not etitend
or postpone the due date ot the mcanthl}• im~atlment~ r~ferred te. in paragraph~ t anJ 2 hereof or change the amount of
sucb installments. If unJer paragraph 18 hereof thc Pro~,ert} ~s acyu~red b~ Lender, :+II right, tide and interest of Rorre.wcr
in and to any tnsurance policies and in and to the proceeds thereof resultmg (rom damage to the Property prior to thc aale
or acquisition shall pass to Lender to the extent of the tiums securcd by this Mortgage immediately priot to surh sale or
acqmsition.
6. Presenation and ~t~iotemnce ot Propert~; I.eacehulds; ('ondominiums; Planned Unit Develo~-ments. Borrower
shall keep thc Property in good repair and shall not comrpi~ Naste or permit impa~rment or deterioration of the Propeny
and shall cc-mply~ with the provis~ons of any Itase if this Mor~gage ~~ on :~ Icaseh~+IJ. I( this Mortgage is on a in~it in a`
condominium or a planned unit ck~~elopment, Borrower tihall perfurm all of Borrower's obligations under the declarahun
or covenants creating or govern~ng the condominu~m ~r pl:+nned unit development. the by-laws and regulatirn~~ of the
condominium or planoed unit development, .,nd constituent J~xumemt If a cunJominium or planned umt Jevel~pment
nder ~s executed by Borrower and recorded ti~ge~her v-~~h ~hi~ M~-rtgage, ~he cm•enants and agreements ot cuch r~der
shall be incorporated ~nto and sh~ll amend and supplcment lhe co~enants and agreements of thit Mortgage ac if the rnier
vvere a part Fereof.
7. Proteclion of I.ender's Securiry. I( R~•rr~~wer f:+~l~ n~ perf~~rm the covenants and agreements contained in th~~
Mortgage, or ii any act~on ~~r proceeding i. rummence.l whirn mater!ally efirctti I en~let's inleretit in Ihe Pn.per~y,
~ncluding, but m~t lim~trd to. cs~~ncnt domam. ~n~~~l~cncy. c~~dc rnt~~r:cmcnt. i~r arranRcmcnts ur pri.ccedings im•ol~ing a
banknipt or decedem. then I.enJer at 1 ender'~ opUun, uEx-n n~~hce to Boriowrr, me~ make surh a~~xarancet, dishurtie such
sums and take such action a~ is neceti.ar} t~~ pr~tect I.ender'~ intere~t. incluJin~. but not Iimi~eJ to, d~~hurumem ~f
reawnable atlorney'~ fees and entry u~~n the ProFxr~} ti- mal,c rcp.ur~ lt 1 rnd~r r~yuired mortgage imurance ati a
cond~tion of mak~ng Ihc loan ~ccure~l b} th~~ ~1~~rt~.~gr. H~~rrr•Hrr ~h ~II pa~~ thr prrninnm rcq-~~reJ to maiiita~n wch
~nsurance in rtkct until such timc as ihc rcyinrrmcnt tor ~uch in;ur•rn;c ~~rmin:~tr~ in .~rcordancc w~th Botrrv-cr'. anJ
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