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UNIfORM COV8NAN7'S. 6orrower and Lende- covenanl snd at~ee u toliows:
1. lqwe~t ot hM~ciMl a~i INereN. Bo~rower shall promptly psy whe~ due the priocipal ot and interest on the
indebtednest avidenced by the Note. P~epaYmeot and late ch~rgec ac provided in the Note. snd the principal ot and interest
on any Futurc Advances secured by this Mongate.
2. lti~i tor T~~+s a~i I~wra~ce. Subjec~ to applicable law ~.r la a writlen waiver by Leoder. Borrower shall pay
to Lender oo the day monlAly insullments ot prit~cipal aod ~n~crc~t arc payable under the Note, unti) the Note is paid in fuil.
a sum (hercin "Fu~ds'y equal to one-tweltth of ~he yea~l~ ~a~-c. and assessments which may attain priority over ~his
Mo~aje, and ~round rents on tl~e Properly, it any. ~+lus one-~weltth ol yearly prcmium insullments (o~ hazard insura~ce.
plus oae-twelfth of yearly premium installments for mottgage insurancc, if any, all as rcuonably estimated initially and trom
time to time by l.ender on the buis of asxssmcnts and hills and reasonable estimata thercof.
The Funds shall be held in an institution the depos~ts or •rccounts of which are iosurcd or guannteed by a Federal ot
state aaency (including Lender if Lender is auch an inslitutionl. I.ender shall apply Ihe Funds to pay said uza. assessments.
inturanoe promiums and ground ~ents. I.ender may not charge ~or so holding and applyiog ~he F~mdc. analyting said account.
or vtrifyin~ and compiling said assessments and bills, unless I_e~der pays Borrowe~ in~erat on the Funds and applicable law
permits Lender to make such a charge. Borrower and Lender mav a~ree in writinR at the timc ot execution ot this
Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement ~s made or appl~cable law
oequira such interest to be paid. Lender shall no~ be required to pay Borrowe~ any interat or earnings on the Funds. I.ender
shall aive to Borrower, without charge, an annual accounting af ~he Funds showing credits and debits to the Funds and the
purpose tor which eaeh debit to the Funds w~ maJe. 'The Funds are pledged as additional cecunty tor ~he sums secured
by this Mortgaae.
If the amount ot the Funds held by Le~der, together with the (uture monthly installments ot Funds payable pnor to
the due data of taxa, assessments, insuranct prcmiums and ground rents, shall exceed the amount tequired to pay said taxa,
atsastnents, insurance premiums and gmund re~ts as they tall due, such excess shall be, at Borrower's op~ian, e~ther
pranptly repaid to Borrower or crodited to Borrower on monthly installments of Funds. It the amount ot thc Funds
new ey t.~~ ~n~i ~oe ~ sot~~~ co p.y ~ua, assessments, insurance prem~ums and ground rents u they fall due,
8orrower sAall pay to Lender any amount neces.wry to make up Ihe deficiency within 30 days from the date notice is mailed
by Lender to Borrower requcsting payment thereot.
Upon paymeat in full of all sums securcd by this Mortgage, l.ender sAall promptly rc(und to Borrower any Funds
held by Lender. If under paragraph 18 hereof the Property n sold or the Property ~s othervvise acqwrcd by Lender, l.ender
shdl apply, no later than immediately prior to the sale of the Property or its acquisrtion by t.ender. any Funds held bv
[.ender at the timt of applicataa as a credit against the sums secured by th~s Mongage.
3. Appiicatim ot Paymeots. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hercot shall be applitd by I.ender first in payment of amounts payable to I_ender by Borrower
under puagraph 2 hereef, then to interest payable on tho Note, then to the principal of the Note, and then to interest and
principal on any Future Advancxs.
4. Cbar6es; Lkns. Borrower shall pay all laties. ascessments and other charges, finec and impocii:ezs atlr~bwahle to
t6e Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, it any, in the manner
pe+ovided under paragraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due, dircctly to the
payee thereof. Borrower shall promptly furn~sh to Lender all notices of amounts duc under this paragraph, and in the event
Borrower shall make payment directly, Borrower shall promptly (urnish to Lenekr receipts evidencing such payments.
Borrower shall promptly dixharge any lien which has pnonty over thic Mongage: provided, that Borrower shall not be
rcqu~red to d~scharge any such lien co long as Borrower shall agree in M nhng t~~ the payment ot the ob6gauun secured by
such lien in a manner acceptable to Lender, or shall ~n gc~ci (aith conteti~ such lien hy, or defenJ enforcement of such lien in,
legal proceedings which operate to prevent the rnfurcement o( the I~en or forfe~ture of the Property or any part thereof.
S. Hanrd Insurance. f3orrower shall kcep the ~mprovememt now cxicting ur hereaher erected on the Property insured
against loss by fire, hazards included withm the term "extended coverage", and such other hazards as Lender may reyuire
and ~n such amounts and fo~ such pcriods ac t_ender may reyuirc; provideJ, ~hat I.ender shall not requirc that the amount of
such coverage exceed that amount of coverage required ~o pay ~he sums ucured ~by this Mortaage.
"iT~e insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; providtd,
that such approval shall not be unreasonably withheld. All premiumc on insurance policies shall be paid ~n the manner
provided under paragraph 2 hereo( or, d not pai~ in such manner, by Borrower mak~ng payment, when due, dircctly to the
insurance carner.
All insurance Ewlir~e~ and renewals therro( shall tx: in form accep~able to Lender and shall include a standatd mortgage
clause in favor of and m form acceptable to Lender_ Lender shall have the right to hold the policies and renewals thereof.
and Borrower chall promptly furnish to Lendcr all renewal notires and all recc~pts ot paid premiums. In the event of loss,
BO~fOWCf 1~I:III ~IYC pmmpi noUCC to ~hc in~urance carnrr and Lender. Lertder map make pr«.t of loss if not made promptly
by BOffOWtf.
Unless Lender and Borrow•er othen-ix agrce m wnting, insurance pjorecds shall bc applied to restoration or repair of
the Property damaged, prov~ded such re,tora~ion or repa~r is ernnomicall~• (eas~ble and the tecurity of th~s Jbfortgage ~s
not thereby impaired. if surh restorat~on or repair ~s n~.t rconomically (easible or ~f the secunty of this ~lortgage would
be impaired. the ~nsurance proceeJs shall be applied to the sums secureJ by this Mortgage, w~th ~he excess, if an~•, paid
to Borrower If the Property ii abandoneJ by Borrower, or i! Bormwer fails to respond to I.ender withia 30 days from the
date nouce is maded by Lender to Borrower that the insurance carrier ofTers to senle a claim for msurance txnefits, 1_enJer
is authorized to collect and apply the ~n~urance proceed~ at I.end~r's optwn either to restorauon or repa~r ot lhe Pmpert~•
or to the sums secured by this Mortgagc.
Unless Lender and BurroKer otherwi,e egree m wnhng, any such applic~tion ~~f pn~:eeds to pr~ncipal shall not ettend
or postpone thc due daie of the monthl}• installmcntti referred t~~ in paragraphti I and 2 hereo( or change the amount o(
such installments. If under paragraph 18 here~f the Propert~~ u acywrcJ b~ l.endcr, ali nght, tidc and interest of Borrowcr •
in and to an~• Insur~nce policies and in and Io thc proceeJs thereof resulting frum damage to the Property prior to th~ ~ale
or acquisition shall pass to Lender to the extent ot the wm> >ecured by th~s I-fortgage immediateiy prior to wch sale or
acquisition.
6. Presen~ation aod ~t~iaten~nce of Property: I.easeholds; ('ondominiums: Ptanned Unit Devebpments. Borrowcr
shall keep the Properly in gcx~d repair and shall not comro~~ Y~aste or perm~t ~mpairment or deteriorat~on of the Property
and shall compl~~ with thc provis~ons of any lease i( this Mortg:~ge ic un a Icasrhuld. If this Mortgage is on a unit in a
condomin~um or a planned umt development. Borrower .hal~ pcr(orm all of Borrower's obligauons under the de.:laratiun
or covenants creahng or guverning Ihe cond~~m~nium or planncd unit development, the by-laws and regulalionc of the
condominium or planned unit development. .,nd conititucm d~xumeni~ I( :~ wndominium or planned umt development
rider ~s exeeuted by Borruwer and recorded i~~gether wnh th~~ M~-rtgage, the covenantc and agreements o( cuch ndcr
shall be mcorporateJ into and shall emend and wpplement the cu.enants and agreements ot this Mortgage as if the nJer
were a part tereof.
7. Proteclion ot Lenders Securfty. If Re.rr~~wer fa~l. tn pert~rm the covenant~ and agreements contained in this
Mongage. ~-r if any acUOn ~~r proceeding ~~ rommrnred Hb~cn ma~rriall} a(Irctc LenJer's intere~t in ~he Fropeny.
including. but n~~t Lmi~ed to. em~nent duma~n. in~~.lvenry, ciKle en(~.rcement. ~~r arrangementc or pmceedings invoh~ng a
bankrupt or decedent. ~hen.Lender at 1 ender'a option, upo~ notice tv Borrow•er. ma~ make such appearances, d~shurse such
sums and take such acl~on a~ is nece~~ar}' to pri~tecl Lender'c mterest. includ~ng. ~ut not limited to. disbursement o(
reasonable attomey's fcec and enlry uExm ~hc Propcriy~ to mrkc rcpa~r~. I( I.rnder reyuircd mortgage in~urance as a
condition of mak~ng the loan cecureJ by th~s ~1rrt~age. Borrr.v-cr sh.~ll pay the premiums required to mainta~n ~uch
insuranet in efiect until wch time as tbe reyuirement for tiuch imuran;e terminates m accordance w~i~h Bormwer's anJ
. ~~.~ ~-~~K 350 F-a~~ i 4Z9
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