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UNtlORM COVBNANTi. Horrower and Leade• coveoaot and a~ra u tollows:
1. l~at ot hi~c~i ri 1~terat. Bo~rowet shall promptl~ pay when due the principal ot and interest on ihe
indebtednat evidenced by the Note. ptepaymeet and late charge~ ac provided in the Note. and the principal ot and interest
on any Future Advances secured by this Mcutjate.
2. ih~i ~or Taa ad Iwis~ee. Subject to spplicabk iaw ar to a written waiver 6y Len~er. 8otrower shal! pay
to I.ender on the day monlhly installme~IS of principal and intcrcc~ .~rc payaMe under the Note, until the Note is paid in fuil,
a sum (herein "Fundt") eqwl to o~re-twelfth of the yearl~ tas~~ and assessments which may attain priority over this
Motf:a~e. artd ~round re~ts o~ tbe Pmper~y, if any, plus one-twel(th of yearly premium insullments to~ huard insurance.
plus one-twelfth of yearly premium instaltmen~s for moNgaae insurancc. if any, all as rcasonably estimated initially and trom
dme to time by Lender on the bssis ot asses~mcros and hills and reasonable estimata thercof.
The Funds shall be held in an institution the depa~ts or accounts af which are insured or guaranteed by a Federal or
state a~eocy (includins l.ender i[ Lender is such an ins~itutionl. I.ender shall apply ~he Funds to pay said taza. asseuments.
insuranoe premiums and ground rcn1s. I.ender may not charge tor u+ holding and applying ~he Fi~ndc. analyzing caid account.
or vtrifyin~ snd compiing said asseuments ~nd bills, unless Lender pays Bortowe~ interest on the Funds a~d applicable law
permits Ltnder to maice such a charge. Borrower and Lender may agree in writing at the time o( ezecution ot this
Mortgaae that interat on the Funds shall be paid to Borrower, and unlas such agreement is made or applicable law
rcquires such intercst to be paid. Lender shall nat be rcquircd to pay Borrower any interat or earnings an the Funds: Lender
sha11 ~ive to Borrower, without charge, an aonual accounting of the Funds showing crcdits and debits to the Funds and the
purpose for which each debit to the Funds wu made. The Funds are pledged u addi~ional security for ~he sums secured
by this Mortaage.
If the amount of the Funds held by Lender, toge~her w~th ~he future monthly installments of Funds payable prior to
t6e due data of taxes, auessments. insurance prcmiums and ground rents, shall exceed the amount required to pay said taxes,
assatments. insurat~ce premiums and gmund rcnts as they (all due, such excess shall be, at Borrower's opt~on, either
promptly rcpaid to $orrower or credited to Borrower on moMhiy instaitments of Funds. 1f the amount af the Funds
held by Leoder shall not be sui6cient to pay tua, assessments, insurance premiums and ground rents u thcy fall due,
Borra~-er shall pay to Lendsr any amount necasary to make up the deficiency within 30 days from Ihe date notice is mailed
by Leader to Borrower ~squesting payment thereof. ~
Upoo paymeat io fuii of aii sums securrc~ by i~i~s i~vrt~age, i.Eii~2f Siiiii prampiiy cciutzu :u Qu~:u~e: a~:y ~u:.u3
heW by Lender. If under puagraph 18 hercof the Property i~ sold or the Propeny ~s otherwise acqwrcd by l_ender, I.ender
sball apply. no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held bv
Lender at the time of application as a credit against the :ums secured by this Mortgage.
3. Applicat~ ot Paymeafs. Unless applicable law provides otherwise, all payments received by Lender under the
Note and pangraphs 1 and 2 hereof shall be applied by (.enJer 6rst in payment of amounts payable to Lender by Borrower
under paragtaph 2 hercof, t6en to interest payable on ihe Note, then Io the principal of the Note, and then to interest and
principal on any Futurc Advances. . ~
~. Chartes; LkaS. Borrower shall pay all ta~cec, acsessments and other charges. fines and ~mpo~itions attributable to
the Property which may attain a prionty over this Mortgage, and leasehold payments or ground rents, if any, in the manner
provided under. paragr~ph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, dirccdy to the
payee thereot. Borrower shall promptly furn~sh to Lender all noaces o( amounts due under this paragraph, and in the event
Borrower shall make payment directly, Borrower shall promptly furmsh to Ixnder receipts evidcnang such payments_
Borrower shall promptly dixharge any lien which has pnonty over thic Mortgage: provided, that Borrower shall not be
required to discharge any such lien so long as Bor~ower shall agree in ~nhng to ~he payment of 1he obligatiun secured by
such lien in a manner acceptable to Lender, or tihall m go~x1 failh contctit such lien by, or defend enforcement ot such lien in,
ltgal proceed~ngs which operate to prevent the enfurcement of thc I~en or torteiture of the Property or any part thereof.
S. Hszud I~urawce. E3orrower shall kap ~he improdemcntti noN cxisting or hereafter erected on the Property insured
against loss hy fire. hazards includ~d within the term "extendeJ coverage", a~d such othtr hazardc as Lender may require
and in such amounu and tor such periods as 1_ender may rcquire: provided, that I.enJer shall not require that ~he amount of
such coverage exceed that amount of coverage required to pay ~he sums secured ~by th~s Mortaage.
'll~e insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided.
that wch approva! shall not be unreasonably withheld. All premwmc on insurance policies shall be paid ~n the manner
provided under paragraph 2 hereot or, if not paid ~n such manner, by Borrower mak~ng payment, when due, dircctly to the
+nsurance carrier.
All insurance pol~cies and reneK~als therrot shall tie in form accepiable to Lender and shall include a Slandard mortgage
clause in f~vor of and in form acceptable to Lender_ Lender cfiall have the right to hold ~he policies and reneNals thereof,
and Borrov-er shall prompdy furnish to Lender all renew~l nouces and all rece~pts of paid premiumti. In the event of loss.
Borrowtr shall give prompl noUCe to the ~n~uram•e carner and 1_ender. I_enJer ma} make proof of loss if not made prompUy
by Borrower.
Unless Lender and Borrower oth~rw~u agree in writing. msurance procced~ shall be applied ro restoration or repair at
the Property damaged, provided such resrorauun or repair ~s ernnomically feasible and the security of this Mortgage is
not Ihereby impa~red. I( such restoraUon or repair is nol rconom~catly feasible or ~f the ucunty of this Nortgage would
be impaired, the ~nsurance proceeds shalt be applied to the sums secureJ by this Morigage, w~th Ihe excess, if aay~, paid
to Borrower. If the Propert} is abanJoned b~ Horrower, ur ~t Borrower faits to respond to 1_ender with~n 30 days from the
date notice ~s mailyd b~• Lender to Borrower that the ~nsurance carrier utTen to set~le a claim for inzurance benefits, Lender
is aut6orizecl t~~ collect and apply the ~nsuranre proceeds at Lender's opt~on e~ther to restoratwn or repa~r of the Propem•
or to the sums se~ured by this Mortgage.
Unltss I.ende~ and $orrower otherv-ise agree m wnt~ng. any such ~pplication of pnx:eeds ~o pnncipa) shall not etitend
or postpone Ihe due date zf the manthl} initallmcmc referred tu in paraRraph. I and 2 hereof or change ihe `amount of
sucb installments. !f under paragraph 18 hereof the Pro4.erty is acywred b} LenJer, all r~ght, title and interest of Borrowcr
in and to any tnsurance policies ~od in and to the prcxeeds thereot resulung from damage to the Property prior to thc ~ale
or acquisidon ~hall pass to Lendcr to the e~tent of the ,ums sccured hy this :~tortgage immediately prior to such salc or
acquisition.
6. Presenation aod ~t~iotenance of Properf}; l.easeholds; ('ondominiums; Planned Unit Developmenls. Borrowcr•
shall kcep the Propcrty in gcwd repair and shall not comrpit Kaste or perm~t impairment or deterioraUOn of the Property
and shall comply~ N~ith the proviswns ot any lease if thu Mortgage ~~ un a Ieaschnld. I( this Mortgage is on a unit in a
,~ndominium or a planned umt•de~'el~~prnc'm. Borrower ~hall ~rform all of Borrower's obligat~ons under the declaraU~~n
or covenan~s creating or guvermng ~he condominu~m or ptanned umt devclopment. the by-laws and regulations of the
condominium or planned unit Jevclupment. and ci~nstit~ecnt dikumcnt~. If a conJominium or planned unit developmcnt
nJer is executed by Borrower ~nd rerorded t~~geiher w~th ih~~ Mortgage, the covenants and agreements of such nder
shall be ~ncorporattd into and shall emend and Supplement the co.~enan~s anJ agreements of thic Mortgage as if the n~fcr
wert a part F.creof.
7. Proteclion o( Lender's tiecurlty. 1( Hi.rmwer f,uh t~~ per(~~rm the covenant~ anJ agreemenls runtained m thrs
Mor~gage, or it any acuon ~~r prcxeeJmg is commrnre~l wh~cn materially efTrrts I.ender's interest in the Pmpeny.
includmg, but not limited to. em~nent doma~n. ~n~~~henr~, axle rnf~~rcemem. c,r ar.ang~ment5 nr proceedings invoh~ng a
bankrupt or deceden~. then Lender at l.en~ler's opt~on, upon notice to Borrowrr, ma~ make such appearances, dahurse such
sums and take such acUun r~ is nece~+ar~ tu prc~~ert 1_ender'c mterest, inclu.hng. but not IimrteJ ta di~bursemeM of
reasonable auomey't fce~ rnd erory uM~n the Propcrn• to makc rcp.ur~. If Lcnder rcyi~ircJ mortgage inaurance as :~
condn~on o( makmg the lo~n cecureJ hy ~h~~ :~1~~rteage. Bi~rr~:~er sh ill psy thr premium~ requ~reJ lo mai~Na~n such
msurance in efTect unul wch Ume a~ the reyuireinent f~~r wrh ir„uran;e Ierm~nates in :~ecordance w•nh Borr~•wer', and
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