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UNI~ORM COV8NAN7'~. Bor[ower and l.tnde- coveoanl and as~et u tollows:
1. ~eN of hi~e~i a~i Wereat. B~rowcr sAall p~omptly pay when due the principal ot and ioterat on the
indebtednest evidenad by the Note. prepaymeot a~d late chargea aa ~xovided in the Note, and the principa! ot and inte~est
on aoy Futuoe Advances securod by this Mort=a~e.
2. R~~i tor Taua~ s~i l~arwce. Subject to applicabk law ar to a writlen waiver by Lender, Bortowe~ shall paY
to Le~de~ o01he day monthly i~stallments o[ principal and ~nt~rcct arr payabk under the Note. until the No1e is paid in tull,
• sum (herein "Funds'~ eqwl to one-tweltth ot the yearly tas~. and assasmems which may attain priority over ~his
Mwtsase. and ~round reota on tAe Property, if any, plus ooe-twelf~h ot yearly prcmium installments tor hazard insurance.
plus one-twelttN of yearly premium ins~allmeots (or mortgage insunncc, i( any, all as rcasonably estima~ed initially and trom
dtne to time by Lendsr on the basis ot asuscmcnts ux1 hills and rea~onable estimata lhertot.
'1~e Funds shall be held in ao instituti~n the depoat~ or accounls of which are insured or guaranteed by a Federal ot
state a~ency (intluding Lendcr if l.cnder is su~:h an institutionl. I.ender ahall apply the Funds to pay said uxes. asseuments.
insursnce premiums a~d ground rcnts l.ender may not charge Ior so holding and applying the Fundc. analyzing caid account,
or verifyinj and compling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
permits I.ender to make such a charge. Barrower and Lender may agrce in writing at ~he time oi e~iecution ot t4is
Mortgaae that intercst on Ihe Funds shall be paid to Borrower, and unlas such agreement is made or applicable law
requires such interat to be paid. Lender shall not be rcquircd tq pay Borrowe~ any interest or earnings on the Fu~ds. Lendcr
shall aive to Borrower, witt~out charge, an annual accounting ot Ihe Funds showing credits a~d debitc to the Funds and the
purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
by this Mortpge.
If tAe amount o[ the Funds held by Lender, together wnh Ihe future monthly installmcnts of Funds payabk prior to
t6e due data of taxes, auessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
stseatments, insunnce premiums and gmund rents u they fall due, such excess shall be, at Borrower's option, either
premptly repaid to Borrower or credited to Bormwer on mon~hly insullments of Fu~ds. It iht amount o( the Funds
held by Lender shdl not be suRicieat to pay tua, assessments, insurance prcmiums and ground rents u they fall due,
Borro~ver shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by I.ender w Borrower requesting payment thercof.
Upou payaaent ia full of a!1 aums secured by this Morigage, l.ender shall promptly refund to Borrower any Fun~
heW by L,ender. If under paragraph 18 hercot the Property i~ sold or the Property ~s whervvise acquircd by Lender, I_ender
shall apply. no later than imtnediately prior ~a the sale of the Propeny or its acquisition by Lender, any Funds held bv
I.eoder at the time cf application u a credit against the :ums secured by this Mortgage.
3. Ap~licatio~ ot Payneots. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragnphs 1 aad 2 hereof shall be applied by I.ender 6tst in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof, the~ to interest payable on the Note, then to the principal of the Note, and then to interest and
principal on any Future Advanca.
1. C6utes; Lk~. Borrower shall pay all taxes, asses~ments and athcr cha~ges. 6nes and ~mprnit~ons attnbutablt to
t6e Property which may attain a priority uver this Mortgage, and leaschold payments or ground rents, if any, in ihe manncr
pr+ovided under paragraph 2 tiereo( or. ~f not paid ~n such manner, by Borrower making payment, when due, directly to the
psyee theroof. Bortower shall prompUy furn~sh to Lencier all not~ces of amounts due under this paragraph, and in the event
Borrower shall make payment d~rectly. Borrower shall promptly turnish to lxnder receipts evidencing such payments.
Borrower shall promptly dixharge any lien which has pnordy over thic Mor~gage: provided, that Borrower shall not be
rcquired to discharge any such lien so long as Burrower shall agrce in wnUng lo the payment of the obligatiun ucured by
such lien in a manner acceptable to Lender, or shall ~n goc~(aith contest such lien by, or defenJ enforcement ot such lien in,
legal proceod~ngs which operate to prevent the enforcement of thr I~en or forfeiwre of the Property or any part thereof.
S. Hazard Insuraace. Bocrower shall keep the ~mprovementt now eaisung ur hereafter erec~ed on lhe Property insured
against loss by fire, hazards included with~n the term "extendeJ coverage", a:~d such other hazards as Lender may reywre
and in such amounts and for such periods as t_ender may require: provided, that Lender shall not require that the amount of
sueh coverage eaceed that amount of coverage reqwred to pay the siimc secured ~by ~his Morlsage.
The insurance carrier providing the insucance shall be chosen hy Borrower subject to approval by Lender, provided,
t6at such approval shall n~t be unreasonably withheld. All prem~um~ on insurance policies shall be paid in the manner
provided undes'~iaragraph 2 hereof or, if not pa~~ in such manner, by Borrower mak~ng payment, when due, d~rcctly to the
iosurance carrier. ~
All insurance pol~ciet and renewals thenot shall be in (orm :+ecep~able to LenJer and shall include a standard mortgage
clause in favor of and ~n form acceptable to Lender. Lendet shall ha~~e the right to hold ~he policies and renev-als thereof,
and Bormw•er shall promptly (urmsh to 1_cnder all renewal noGCes and all receipts of paid premiumc. In the event of loss.
Bprrower shall gi~~e prumpt ni~t~ce to the inaurance carr~er and Lender. I.ende! ma} make proc~f of'loss if not made prompUy
by Borrower. ~
Unless Lender and Borrower other~vx agrce in wriong, insurance proceeds shall be applied to restoration or repair of
the Property damaged, proviJed such re~tora~,on or repair ~s ec~nomically feasible and the security of th~s Mortgage is
not thereby impaued. It such restorat~on or repair is nnt rcon~~m~cally (easiAle or if ~he security of this Mortgagt would
be impaired. the insurance proceeds shall be applied to the sums secureJ by this Mortgage, w~th the excess, if an}•, paid
to Borrower. I( the Propett~ u abandoned hy Borrower, or it Borrower fails to respond to 1_ender within 30 days from the
date not~ce is ma~led by Lender ~o Burrower that ~he insurance carrier otTen to se~de a claim for insurance benefits, 1_ender
~ is ~uthariT.ed to collect and apply the insurance proceeJs at Lender'~ option either to restoraiion or repa~r of lhe Propen~~
or to the sums secured by this Mortgage. ~
Unless Lender and Borrower otherv-~~e agree ~n wnling, an~ such applica~ion of prcx:eeds to pnne~pat shall not extend
or postpor.e ~he duc dat~ of thc m~~mhh• installmcnts referred to in paragraphti 1 and 2 hercot or change the amount of
such installmen~. If unJer patagraph 18 hereof thc Pro~,erty ii acywreJ b~ Lende~, ali ngh~, Ude and interest of Borniwcr
in and to any it~surance pol~cies and in and to thL proceeds thereof result~ng from Jamage to the Property prior to ~h~ saie
or acquisition shalt pass to Lender to the extent ot the sums secured by this Mortgage immediately prior to such sale or
acquisition. '
6. Prrsenalion aod Naintenance of Property: Leasehulds; ('ondominiums; Planned Unit Developmenls. Borrowcr
shall keep thc Property in good repair and shall not comro~~ ~'astc or permrt impairment or deterioration of the Property
and shall compl}~ with the provis~ons of any lease if thu Mongagc iti un a kasehold. It this Mortgage is on a imit in a
condominium or a planned umt de~•elopment, Borrower shall per(~rm ail of Borrower's obhgaUOns under the decl•rratwn
or covenants crcatmg or guverning the condommium or planned ~mit developmenl, the by-laws and regulations of the
condominwm or planned unit develo~,ment. and constituent dixumen~~ I( a conJominium or planned unit development
nder is executed by Horruwer and recorded ~~~gether Kith thiti M~rlgage, ~he covenants and agreements of wch ridcr
shall be mcorporated into and shall amend and suppl~meM the co~enant~ anJ agreements of this Mortgage as if ~he nJcr
were a part tereof.
7. Protection of I.enders SecurSty. If H~,rraNer fa~h a~ perl~~rm the covenant~ and agreements contained in this
Mor~gage, or if any act~on ~~r proceed~ng n ci-mmrnced Hhicn mate~iall} .+ITrctc Lrnder's interes~ in the Propert}•.
includ~ng. but ne~l lim~~ed to. cminent domam. ~m~.lvenc}. axle rn(~~r.emFnt. i.r arrangemcntc or pruceedings ~nvol~~ng a
bankrupt or decedent. ~hen Lender at I enJer'~ ~~puon, upun nc~tice lo Borrowcr, ma} m.~ke such appearances, dishur~e such
sums and take such acuun a~ ~s nece«ary ta prutect I.ender'~ ~merect. mcluding. but not limi~ed to, d~sbursement of
reasonanle a~iomey'~ tceti and emry u~~n ~hc Propcrty t<. make rcpa~r~. If I.rndcr rcy~~ircJ mor~gage inwrance as a
condmon o( mak~rrg Ihc loan ~ccurrJ by 1hu ~lurlgagc. B~~rn:wcr ~h ~ll pa~• Ihr prcmiumti req~nred lo mai~ttam such
insurance in rltect unul such hme a~ ~he rcyiurrmcni for .uch m;uran;e Icrminate~ m:iccordanee with Borrrvvcr'~ and
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