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UNI~ORid COYtNANTf, 8orrowW and Lender covenant and ssra u follows:
l. !~t of hi~e}~I a~i 1NenA. Borrower shall promp~l~~ pay when due the principal of and intercst oo the
~ndebttdneu evide~ced by the Note. ptepayment and late chargec a~ provided in the Note, and the principai of and inteoest
on aoy Futuro Advances secw+ed by this Mortgage.
2. !`~Ms tor Taes a~i I~wra~ce. Subjat to applicnbk law ~~r to a written waiver by Lende~. Borrower shall pay
to I.ender on ~he day mo~thly i~slallmenls of principal and ~mcrcc~ .-rc ~ayabie under the Notc, until the Note is paid in tuil.
a sum (hercio "Funds") equal to or~e-twelfth of the yearl~~ u~-~. and assessments which may attain priority over this
Mortsa~e. and `round rents on the Propu~y. it any, plus one-twelf~h of yearty prcmium installments tor hazard insurance.
pl~u w~e-twelftb of yearly prcmium installmeots (or mangage insuroncc. it any, all u reasonably estima~ed initially and trom
time to time by I.endet on the lusis ot assescmc~ts and hills and reawnable estimates thercof.
'ILe Funds shall be held in an institution the depoc~~s or accounts of which are insurcd or guaranteed by a Federal ot
sute agency (including Lende~ if Lender is such an institutionl. I.ender ahaU apply ~he Funds to pay said taxa. assessments.
iaturance premiums and ground rcnts. I.ende~ may nat chargr ~ur u~ holding aod applying the F~!~dc. aoalyzing caid account.
or verifyin~ and compling said asseuments and billa, unkss I_ender pays Borrower interat on the Funds and appticable law
petmits Ltnder to malce such a charge. Bc-r~ower and Lender may agrce in writing at the time of execution of this
Martgage that interat on the Funds shall !x paid to Borrower, and unless such agreement is made or applicable law
requires such intercst to be paid. Lender shall no~ be rcquired ta pay Borrower any interest or earnintits on the Funds. Lender
shall aive to Borrower~ without charge, an annual accounting of the Funds showing crcdits and debits to the Funds and the
purpose for which each dtbit to the Funds was made. The Fur+ds are plodged u additional security for the sums securcd
by this Mortaage.
If the amount ot the Funds held by Lender, togcther with the future mon~hly ins~allments of Funds payable prior to
tbe due data of tues, assessmcnts, i~aurance prcmiums and ground rents, shall exceed the amount r~quircd to pay said taxes,
ass~tuaents, insurance premiums and ground rents as they tall due, such excess shall be, at Borrower s opt~on, either
promptly repaid to Borrower or credited to Borrower on monthly installments of Fu~ds. !f the amount of ~he ~unds
held by l.ender shall not be wfCicient to pay taxcs. assessments, insurance premiums and ground rents u they fall due,
Bo~e~ shali pay to l.ender any amouot nocessary to make up ~he deficiency within 30 days trom ~he date notice is mailcd
by Lender W Borrower requesting payment ~hereoi.
Upon paymeat ia full of dl sums xcured by this Mortgage, I.ender shall promptty rcfund to Borrower any Funds
held by Lender. If undtr puagrsph t8 hereot the Property i, sofd or the Properiy is otherwise acquircd by I_ender, Lender
sDd! apply, no later tha~ immediateiy prior ~o [i~ sa{e af ihe PmpeRy or i!s acquisiti~+n hy I.ender, any Funds held bv
L.ander at the time of application as a credit against the sums xcurcd by this Mortgage.
3. Applicatios oE Paymeots. Unlcss applicable law provides otherwise, all payments received by Lender unckr the
Note aad paragraphs 1 and 2 hertot shall be appl~ed by I.ender first in payment of amounts payable to Lendcr by Borrower
uader puagraph 2 heaof, then to interest payable on the Note, then to the principal of the Note, and ihen to intorest and
principal on any Future Adva~cu.
1. C6sr~es; Lkas. Borrower shall pay all ~axre, aisesimrnts and other charges, finec and impositions attr~butable to
the Property which may attain a priority over this Mortgage, and leaschold payments or grouna r~nts, if any, in the manner
pmvided under paragraph 2 hereof or. ~t nut paid in such manner. by $orrov-er making payment, when due, directly to the
payee theoeot. Borrower shall promptly furn~sh to LenJer all not~ces of amounts due under this paragraph, and in the evtnt
Borrower shall make payment direcUy~, Borrower tihall prompUy furmsh ro Lender receipts evidenc+ng such payments.
Borrower shalt promptly discharge any lien which has pnor~ty over this Mongage; provided, that Borrower shall not be
requ~red to d~scharge any such lirn so long as Borrower shall agree in wnt~ng t~ the payment of the obligatiun secur~d by
such lien in a manner acceptable to Lender, or shall m gcx.ci fauh wnteti such lien hy, or defenJ enforcement of such iien in.
legal proceed~ngs which operate to prevent the enturcement of the I~en or forfeuure of the Propeny or any part thereof.
S. Hazard Insurawce. Sorrowe~ shal! ketp the improvements now ctisting or hereafter erected on the Pmperty insured
against loss by 6rc, hazards inrludeJ with~n the term "rx~endeJ coverage", a~d such other hazards as Lender may require
..,.; ~~~ ~~ ~ a~~~~:;~.:~ ar.~ :~: ,~ !: r_ri~±~ ~~ ~ C!~~~'~ ~n,y reauire: provided, that LenJer shall not rcquirc that the amount o[
sueh coverage exceed that amount of coverage requ~red ro pay the sums securcd ~by this Mortaaae.
The insurance carrier providing the insurance shall be chosen by Borrower subject to apProval by Lander. provided,
that such approval shalt not be unrcasonably withheld: Ait premium~ on insurance polic~es shall be paid in tF~e manner
provided under paragraph 2 hereot or, if not pa~d ~n such manner, by Bc-rrower mak~ng payment, when due, directly to the
insurance cartier.
All insurance ~ol~c~es and renewals thenof shall tx in form aceept~ble to Lender and shall include a'standard mortgage
clause in favor ~f and in [orm acceptable to Lender. Lender shall have the nght tc~ huiJ the poiicies anJ renc»a~s c~tcrcof,
and Borrow•er shalt prompdy furmsh to Lender atl renew•al notices and alt receipts of paed premiums. In the event of loss.
Borrower ~hall give prompt notite ~o tbe ~nwr~nce carner •rnd l.eoder. 1_ender ma~• maice prw~f ot loss if not made promptl~•
by Borruwer.
Unless l.ender and Borrower othen-~~,e agree in ~nt~ng, inwrance proceedc shali be applied ro restoration or repair of
the Property damaged, proviJed wch restoratron or repa~r ~s eronomically (easible and the security of th~s Mortgage ~~
oo! thereby impa~red_ !f such restoration or repa~r is not eci~n~~mically frasible or it the secunty of th~s Mortgage would
be impaired, the insurance proceeds shail be applied to the sums secured by this Mongage, with the excess, if any, pa~d
to Borrower. If the Propert} is abandoncd ~y Borrower, or it Burrowcr fa~ls to respond to Lender within 30 days from the
Jate not~ce is ma~led h}• LeRder to Borrower that tbe ~nwrance carner ofTers ~o seule a claim for insurance benefits, I_ender
is authonzed to colle~:t and apply the insurance prciceed~ at I.ender'~ ~~puun either to restora~ion or repa~r of the Propern•
or to the sums secured by ~his Mortgagc.
Unless [.ender and Borrower otherwise egrec m wnt~ng, an} such :~pplicauon of prnreeds to pnncipal shall not extend
or postpone the due date of the monthly im~allmentti referrcd ti~ in paragraph~ 1 ~nd 2 hereof or change the amount of
suc6 installmeots. If under paragraph I8 hereof the ProE,ert~• n acywreJ b~ Lendcr, ali nght, titlc and interest of Borruwcr
in and to any Insurance policies and in and tv thc procceds thereot resutnng from damage to the Property prior to thc saie
or acquisiqon shall pass to Lender tv the e~tcnt of the wms sccured by thn :~tortgagr immediately prior to such sale or
acquisition.
6. PresersAtion 9od ~taintenance of Property: I.easeholds; Condominiums; Planned Llnit De~ebpments. l3orrow~cr
shall keep the Property in good repair and shall not comroit y~~astc or permit impairment or deterioraUOn of the Property
and shall compl~ with the provisions of any lease ~f thn Mortgagr ~. un a Icasch~-Id. 1[ this Mortgage is on a unit in a
condomin~um or a planncd unit de~elopment, Borrower tihall Fr_rturm all u( Borrower's obligauons under the decfaraUun
or covenants creatmg or guvermng ~he conJom~nium or planned unit develupment, the by-laws and regulationc of the
condominium or planned unrt development, and constituent Jekument~. I( a condominium or planned ~mit development
nJer ~s caecuted by Borrower and recordeJ ii~gether w~th ~hi~ M~,rtgage. ~he covenanis and agreements of such ridcr
shall be incorporated into and shall amend and c~pplement the co~enan~ti anJ agreements ot ~his Mortgage as if the riJer
were a part hereof.
7. Protection of I.ender's Security. tf H~.rr~~Ner (a~l~ t~~ ~xrl~.rm the covenam~ and agrcements contained in this
Mor~gagr, ~~r if any act~on ur proceeding ~ti rummrnce~l uh~rh matrnallr ,~fTrct: I.en~er'ti mtere~t in Ihe Prc~pert}•.
includ~ng. but nut I~m~ted Ic~. rm~nent doma~n. im~~lvrnr~, a,de ~n(~,rcemenl, ~~r :uranRemem~ or pr~~ceedings invoh~ng a
bankrupt or deceden~, then I.ender al 1 ender'~ ~~piion, u~-n nohce Io Borrower. ma~ make such appcarances, dahursc such
sums and take such acuun a. is nece~wr~ tu pra~crr l.ender'c mterest. inch;~hng. b~rt ne~t lim~ted to. Jicborsement ot
reawnable attorney'ti (re• and cn~ry upnu ~he Prupcriti to mal,c repair~. If Lcndcr reynireJ morlgage in~urance at a
conditiun of making the loan cecureJ by thi• ~t~~n~age, Bnrn:~~r sh.dl pa~• thr premiumti requireJ lo mainia~n such
msurance ~n rHect um~l tiiich timc as thc reyuirrmcnt for ~uch imur~n;~ tcrm~natc. in accordancc with Borr~~acr's anJ
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