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UNIFUKt~t C~OVEN.~NTS. HOf~OWCf anJ Lcn~lrr ruvcn:~m :~n.l agree a~ fullaw~:
1. Paymen! ot P~inclpal snd I~terest. {io~ruwer ~hall prumptly pay when due the principrl of and intrrest un the
indcbtedncss cvidenccJ hy thc Notc, prepaymcnt anJ latc chargc~ a~ proviJcd ~~ ~he Notc, and thc principal of and interes~
on any Future Adva~cec secu~ed by thic Mor~gage.
2. Fnnds for Tu~a and I~uraace. Subject lo applirable law or la a written waiver by I.cnder, Barrower shall pay
to l.ender on the day mon~hly installmen~s of principal an.i imere.t arc payahle under the Nate, until the Note is paid in (ull,
a sum (hercin "FunJs"- equal to ane•twclfth o( ~hc ycarly ~atics anJ acccssments w•hich may attain priori~y over ~his
Mortgagc, anJ ground rents on the Pmperty, if any, plus ~-ne-twclf~h of ycarly premium installmen~s for hazard insurance,
plus one-twelfth of ~•early premium installmcn~s for mortgage insurancc, if any, all as rcasonably c~timatcd initially and (rom
time to time by Lendcr on thc basis af a~scscmcnts anJ bills and rea~unablc eslimates thercof.
"Il~e Funds shall he held in an imtitution the deposits ur accounts of which are insured or guaranteed by a Federal or
state agency (including Lender if I.ender is such an insti~utionl. I.ender shall apply the Funds to {+ay said taxes, asxssments,
insurance premiums and ground rents. I_ender may nat charge lor ao holding a~d •rpplying the FunJs, analyzing said account,
or veri[ying and compiling said assessments and bills, unless Lender pa~~s Borrov-•er interest on the Funds and applicable law
permits 1_ender to ntake such a charge. Borrawer and t.ender may agree in writing at the time of exec:ution o( this
Mortgage that in~erest un ~he Funds shall he paid ro Borrowcr, and unless such agrecment is made or applicable law
requires such interest to be paid, I.cnder shall not hc rcyuir~~l to pay Borrower any interest or carnings an the Funds. I.ender
shall give to Borrower, without charge, an annual arcuunting of the FunJs showing credits and debits to the Funds and the
purpose for which each debit to the Funds was maJe. The Funds are pledgrd as additianal security for the sums secured
hy this Mortgage.
If the amount of the Funds held by Lendcr, togelhcr with thc fuwre rnonlhly installments of Funds ~yable prior to
the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount reyuired to p•ry said taxes,
assessments, iasurance premiums and ground rents as thcy fall due, such excess shall be, at Borrow•er's option, either
promptly reFaid to Borrower or crcdited to Borrower on monthly installmcnts of Funds. If the amount of the Funds
held by Lender shall not be suflicient to pay taxes, asse~sments, insurance premium~ and g~ound rents as they fall due,
Borrower shall pay to Lender any amount neces~ary to make up ~he deficiency w ilhin 30 da~•~ (rom the date notice is mailed
by Leoder to Borrower reyuesting payment thereof.
Upon pa~ment in fulf of all sums secured by this Mortgagc. I.ender shall promptly re(unJ to Borrower any Funcis
held by l.enJer. lf under paragraph 18 hereot the Propcrty iti ~old cx the hroperty is otherwise acquired by I.encier, LenJer
shall apply, no later than immediately prior to thr salc of Ihe Property or its acquisition by 1_c~dcr, any Funds held by
Lender at the time of application as a credit against the sum~ s.,-cured by this Mortgage.
3. Applicatlon of Psyments. Unless applicahle law• pro~•iJes otherwise, all payments received by I.ender under the
Note and paragraphs 1 and 2 hereof shall bc applicci by I.cndcr first in p~yment of amounts payablc to Lender by Borrow~er
under paragraph 2 hereof, then to interest payablc on thc Notc. thcn to thc principal of the Natc, and then to interest and
principal on any Fulure Advances.
4. Charges; Lkas. Bortower shall pay all IJCCS, :I~SCSSOICOIS 3f1(I Mher charges, fine, and imExxitions auributable to
the Property which may attain a priority over this Mor~gagc, and leasehold payments or ground rents, if any, in the manner
provided unJer paragraph 2 hereof or. if not p:~id in such manner, by Borrower making payment, when due, directly to the
payee thereof. Borrower shall promptly furnich to Lender all.noticcs o[ amounts due under this paragraph, and in the event
Borrower shall make payment directl~•, Borrower tihall promptly fumish to Lender receipts evidencing such payments.
Borrowet shall prompUy Jischarge any lien which has pnority~ aver this Mortgage; provided, that Borrawer shall not be
required to disc:harge any such lien so long as Borrower shall agrcc in vvriting to thc payment of the obliga~ion secured 6y
such lien in a manner aceeptabfe to Lender, or shall in g«xl fai~h contect such lien hy, or Jefend enforcement of such lien in,
legal proceedings which operate to prevent the enforcement of the lien or forteiture of the Property or any part thereof.
S. Hwrd insurance. Borrower shall keep thc impravement~ now c~isting ar hercaf~er erected on the Property insured
against loss by fire, hazards included within the term "~~tended coverage", anJ such other hazards as I_ender may reqaire
and in such amounts and for such periods as Lender may reyuire; provideJ, that Lender shal! not require that ihe amoont of
such coverage exceed that amount of coverage required to pay the ~umt ~ecared by this Mortgage.
The insurance carrier providing the insurance shall be chosen b}• Borrower subject to approval by Lender, provided,
that such approval shall not be unreasonahly withheld. All premium~ on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
insurance carrier.
All insurance policies and renewals thereof shall be in f9rm acceptable to LenJer and shalt include a stanJard mortgage
clause in favor of and in form acceptable to Lender. I_ender ~hall have the right to hold the policies and renewals thereof.
and Borrower shall promptly furnish to Lender all rencv-~al notices anJ all receipts of patid premiums. In the event of loss.
Borrawer shall give prompt notice to the in~urance carrier and I.enJer. Lender may make proof of loss if not made prompt{y
by Borrower.
Unless Lender and Borrower othen+vise agree in writing, insurance proceeds shall be applied to restoration or repair of
the Property damaged, proviJed such restoratiun ar ~epair is economically feasible and the securiry ot this Mortgage is
not thereby impaired. If such restoration or repair is not economirally feasible or if the security of this Mortgage would
be impaired, the msurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
to Borrower. If the Propert}• is abandoned b~• Borrower, or it Bormwer tails to respond to Lender within 30 days from the
date notice is mailed by Lender to Borrower that the insurance carrier otTers to settle a claim for insurance benefits, Lender
is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
or to the sums sccured by this Mortgagc.
Unless l.ender and Borrower othervvise agree ~n writing, any such application af proceeds to principal shall not extend
or pos[poae the due date of the momhly installmcnts referred t~~ in paragraphs I anJ 2 hercof or changc thc amount of
such installments. If under paragraph ; 8 hereof the Property is acquired by l.encier, al! right, title and interest ot Borrower
in and to an~ insurance policies and in and to the proceecls thereot resulting from damage to the Property prior to the sale
or acyuisition shall pass to Lender to the e~tent ot the sums secureei by this htortgage immediately prior to such sale or
acquisition. '
6. Presenation and ~taintenance of Properiy; Ixaseholds: ('ondominiums; Planned Unit Developments. Borrower
shall keep thc Property in good repair and shall not commi~ waste or permit impairment or cieterioration of the Property
and shall comply with the provisions of any lease it this titortgage is on a Icaschold. If this Mortgage is on a unit in a
condominium or a planned unit development. Borrov~~er ~hall perform all of Borrower's obligations under the declaration
or covenants creating or governing the condom~nium or planned unit development, the by-laws and regulations of the
conJominium or planned unit development, and constituent documents. If a condominium or planned unit Je~•elopment
nJer is executed by Borrow•er and recordeJ t~~gether w~th this Martgage. ~he covenants and agreements of such rider
shall be incorpurated into and shall amend and supplement the covenants and agreements of this Mortgage as it the riJer
were a part hereof.
7. Protection of Lender's Security. If Borrower faik to per(orm the covenants anJ agreements contained in this
Mortgage, or if any ac~ion or proceed~ng ic commeneed w~hich materially afTects l.ender's intercst in the Property.
including. but not limi~ed to. eminent domain, in~lvency, code en(orcement, or arrangements or proceedings involving a
bankrupt or decedent, ~hen l.ender at Lender's option, upon notice to Borrower, ma}~ make such appearancea, disburse such
sums and lake such action as is necessary to protect Lender's ~nterest, including, but not lin~ited lo, disbursement of
reasonable attomey's fces and entry u~n the Property to make rcpairs. 1f Lendcr required mortgage inwrance as a
condition of making the loan secureJ b~~ ~hiti Mortgage. Borrc-WCr ahall pay the premiums required to maintain such
insurance in efTect until such time as the reyuirement (or such insurance terminates in aceordance with Borrower s and
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