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UN~FO~tM CovEH~N~rs. Borrower and l.enJcr covcn~m and agrre ai tollows:
l. hymeat ot Princ~al sod toterat. t3ormwe~ shall pn~mptl~ pay Nhen duc the principal of and infcrest on the
indebted~ess evide~ced by the Note. prepaytnent and late charge~ a. pmvided in the Nate, and ~he principal ot and interest
on aay Future Advances secured by this Mortgage.
2. P'n~ for Tua aed lAtnrs»ce. Subjecl ta applicable lavv ~u t~ a written warver by l.ender. Borrower shall pay
to l.e~de~ oo the day monthly installme~ts of principal anJ ~nu~rr.t arc payablc under the Note, until the Note is paid in full,
a sum (herei~ "Funds") equal to one-twelfth of ~he yearl~ ta~r. and ascessmentc which may attaen priarity over thic
Mortgage, and g~ound rents on the Praperty, if any, plus onc-twclfth o! ycarly premium installments for hazard insurance,
~••.T 4~T .^-^",'~ ^~ •Y~-~•. ~-f~~.,+~ :~~•~+~~~++~~+~ ~... m~.r4ane ~~.a~rance. ~t anv. all as reasonably cctimated initially anJ from
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time to time•by I.ender on the basit of acscc~mcnlt anJ hills and rea.onable estimates thereof.
Tt~t Funds shall be held in an insliw~ion ~hc dep~xit. or accaunts ot which are insured or guaranteed by a Federal or
state age~cy (including Lende~ if Lcnder is ~uch an institution). I.cnder ~hall apply thc Funds to {~:~y ~aid taxes, assessments,
insurance premiums and graund ~ents. I.ender may not charge lor so holding and applying ~he Fundc. analy~ing said account,
or vetifying and compiling said asscssments anJ hill~, uoless t_ender pa~~s Borcower interest on the Funcls and applicable law
permits Lendtr to make such a charge. Be~rrower and l.ender may agree in writing at the time of execution of this
Mortgage that inttrat on the Funds shall t-e paid to Bo~rower, and unless such agreement is made c~r applicable law
rcquires such intercst to be paid. 1_e~de~ shail not he required to pa~• Borrower any interest or earnin~~s on the Funds. l.ender
shall givt to Borrower, withoul charge. an annuai accounting ~f the Funds showing credils and debits to the Funds and the
pttrpose for which tach debit to the i~unds was madc. The Funds are pleclged as addi~ional security for ~hc sums secured
by this Mortgage.
If the amount of the Funds held by Lender, together with thc futurc monthly inctallments of Fundc payablc prior to
the du~ dates of taXes, assessments. insurance premiums and ground rents, shall exceed the amount reyuired to pa}~ SaiJ taxes,
asses~ments, insurance premiums and ground rents as Ihey tall due, such excess shall be, at Barrower's opaon, either
promptly repaid to Borrowe~ or credited to Borrower on monthly inslallmcnts of Funds. If the amount of thc Funds
heW by Lender shall not be sufficient to pay taxes, assessments, insurancc prcmiums anJ ground rents as ~hcy t~ll due,
Bomawer shall pay to Lender any amouat necessary ~u m~KC uFi ~t~c ~e~ ::~~~~~~ ~:.:::~ ?L~ da;s €~~n*. !t*_c ~a~e nMice i~ mailed
by l.ender to Borrower roquesting payment thereof.
Upon payment in full of all s~ms securtd by lhis Mortgage, [.ender shalt promptly refund to Borroµ•er any Funds
held by LenJer, If under paragraph IR hereof the Property e, sold or the Property is otherwisc acquired by l.ender, l_ender
shal) apply. no lattr than immediately prior to the sale of the Propeny or its arquisition by Lender, any Funds held by
L.endtr at the time of application as a credit against the sum~ secured by lhis Mortgage.
3. Apptication ot Payments. Unless applicable law provides otherwise. ail payments received by~ Lender under the
Note and paragriphs i and 2 hereof shall bc applied by l.rnder first in payment of amounts payable to Lcnder by BorroN~cr
ander paragraph 2 hercof. then to interes~ payable on the hote, then to the principal of the Note, anJ then to interest and
principal on any Future Advances.
4. C6arges; Lieas. Borrower chall pay all taxec, as~tessmcnts and other charges, fine~ and ~mpositions attribe~table 10
the Property which may atlain a priority over this Mortgage, and leasehald payments or ground rents, if any, in the manner
ptovided under paragraph 2 hereof or, if not paid ~n such manner, by Borrowe~ making payment, when due, Jirectly to the
payee theieof. Borrower shall promptly furnish to Lender all notices of amou~ts duc under this paragraph, and i~ the event
Borrower shall make payment directly, Borrower shall prompUy fumish ta Lender receipts evidenring such payments.
Borrower shall promptly discharge any lien which has pnority over this Mortgage: provided, that Borrower shall not be
tequired to d~schargt any such lien so long as B~~rrow~er shall agree in wriUng to thc payment ot the obbgation secured by
such lien in a manner acceptable to l.ender, or shall in good faith contes~ such lien by, or defer.d en~orcement of such lien in,
legal proceedingc which operate to prevent the enforcement of the lier. or forfeiture of the Property or any part thereof.
S. Hsrard Insu~anee. Borrower shall ketp the ~mpruvements nnw• existing or herca(ter erectcd on the Propeny insured
against loss by fire, hazards included within the term "rxtendeJ coverage", and such other hazards as I.ender may reqaire
and in such amounts and for such periods as l.ender may reyuire; provideJ, that Lender shall not reyuire that the amount of
such coverage eaceed that amount of coverage required to pay the sums sece~red ~by this Mortgage.
'Rie iosurance carreer providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
that such approval shall not be unreatonably withheld_ All premiums on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or, ~f not paid in such manner, by Borrower making payment, wheo due, directly to the
insurance carrier.
All insurance policies and renewals thereof shall be in form accept:~ble to l.enJer ~nd shall include a standard mortgage
clauu in favor of and in form acceptable to Lender. I.ender shall have the right to hold the policies and renewats thereof,
and Bortower shall prompUy furnish to Lender all renewal not~ces and alt receipts of paid premiumc. In the event of loss.
Borrower shall g~ve prompt notece to the insuranre carrier and (.enJer_ l.ender may make prcx~f of loss if not made promptl}•
by Borrower. '
Unless Lender and Borrower otherw~..~ agree in writing, insurance proceeds shall be applied !o restoration or repair of
the Property damaged, proviued such n~toraUun or rcpai~ ~s econornica!!y feasible and she security oi th~s Mortgage it
not thereby impairtd. If such restora~ion or rcpair is not c~onomically frasible or it the security of this Mortgage woidd
be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if an}, paid
to Borrower. If the Property is abandoncd by B~rroµ•er, or il Borrower fails t~ respond to I_ender within 30 days irom the
date notice is maded by L,ender to Borrower that the insurance carreer oflers to setUe a claim for insurance benefits, I_ender
is authorized w collect anJ apply the imurance proc.~eJa at LenJer's option either ta restoration or repair of the Propem
or to the sums secured by this Mortgagc. .
Unless Lender and Borrower otherwise agree in writing, any si~ch application of pro~:eeds to pr~ncipal sha!) not e~tend
or postpone the due date of the monthly iosta)lments referred to in paragraph~ 1 anJ 2 hereof or change the amount of
such installmeots. If under paragraph IR hereof the Property is acywred hy Lendcr, all right, titte and interest of Borrower
in and to any insurance policies and in and to ihe pro~:eeds thereof resulting from damage to the Property prior to th~ sate
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
6. Prssenstion wd tiiaiatenance ot Propert~•; Leaseholds; Condominiums; Planned Unit Devtlopmenls. Borrow•cr
shall keep the Property in good repair and shall not com~vit w~ste or permit impairment or deterioration of the Property
apd shall comply with the provisions of any lease if this Mortg.+ge r~ un a Icaschold. If this Mortgage is on a unit in a
condominium or a planned uort development, Borrower shall perform all ot $orrowers obligations under the uectarat~on
or covenants creating or governing the condominium or planned unit develupment, the by-laws and regulations of the
condominium or planned unit development, and constituent Jocument.. If a condominium or planned unit ekvelopment
rider is eaecuted by Borrower and recordeJ together w~th thic Morigage, the covenants and agreements of such rider
shall be incorporaled ioto and shall amend and supplement the covenants and agreements of this Mortgage as if the riJer
were a paR hercof.
~. Protectioo of I.eadtr's Seeu~ry~. If Borrower fails t~ perform the covenants anJ agreemeots contained in this
Mortgage, or if any action or proceeding is cvmmeneed w•hich materially afiects !_e~der's interest in the Property,
iaeluding, but not limited to, eminent domain. inu~lvency. code enfarcement, or arrangements or proceeJings invol~~ing a
bankrupt or decedent, then Lender at Lender's option, upon notice ~o Borrower, ma}• make such appearances, Jisburse such
wms and take sueh action as is necessary tu prolect Lender's interest, incluJing. but not limited to, disbursement of
reasonable atlomey's fe~s and entry upon the Property ta makc repairs. If Lendcr reyuircJ mortgage insurance as a
condition of making the Icwn securtd by this Mohgage. B~rruwcr shall pay thc prcmiums requireJ ta maintain such
iufutance in eBcet until such time as It~e reyuirement for such msurance Ierminates in accordanc~ with Borrower's anJ
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