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UN~FO~~.t CoveN~NTS. Borrower and l.ender covenant and aaree as tollows:
1. hye~eat ot Pr~acipd aoA lalensl. Borrower shall promptl~• pay when due the principel of and interest oo ~he
indebtedness evidet-ced by the Note. prepayment and late chargec ac provided ~n the Note~and tha principal of s~nd intercs~
0o aay Futuro Advanca secured by this Mortgage.
2. Fo~ds tor Tates and l~ura.ce. Subject to applic~hlc law or to a written waiver by Lender, Borrower shall pay
to l.e~der on the day monthly mstallments ot principal and ~n~~rc~i arc payahle under the Note, until the Note is paid in full.
a sum (herein "Funds'~ equal to ont twel(th of the yearl~ ta~c~ xnJ asxssments which may attain pnority over this
Mortgage, and ground rents on the Property, if any, plus one-twel(ih of yearly prem~um installments tor hazard insurance,
plus one-twdith of yearly premium installments tor mortgage insiirancc. ~f any, all as reasonably cstimated initially Tnd (rom
time to time by Lcnder on the basis of aues~ments anJ hills •rnd reax~nable es~ima~es thereof.
"R~e Funds shall t+e held in a~ institu~ion the de~+ocu~ or accounts ot which are insured or guaranteed by a Federal or
state age~cy (including Leoder ii Lender ~t ~uch an institutionl. I_ender ~hall apply the Funds to pay said taxes, asseunients,
insurance premiums and ground rents 1 ender may n~1 charge tor so holding and apF+lying Ihe F~~ndc. analyainF sa~d acc.~unt.
or verifyiog aod compiling said assessments and bill~, unless I.ender pays Borrower interest on the Funds ared applicahle law
permits Lender ~o make such a charge. Borrower and I.enJer may agree in writing at ~he time o( eaecution o( this
Mortgage that interes~ on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
rcquires such intercst to be paid. Lender shall not be required to pay Borrower any interest or earnir.gs on the Funds. I.en~tr
shal) give to Borrower; without charge. an annual account~ng af tht Funds showing credits and dehits to ~hr Funds and the
purpose for ~vhich each debit to the Funds w•r~ made. Tlie Funds are pledged as additional secunty (~~r ihe sums secured
by this Mortgage.
If the amount of the Funds held by Lender, toge~her w~th the future monthly imt:~llments of Fundc payable prior to
the due dates of taxes, assessments, insurance premiums and gmund rents. shall exceed the amount reyuired to pay said taxcs.
assessments, insurance premiums and ground rents as ~hey fall due, such excecs shall be, at Borrower's o, hc~n, e~ther
promptly repaid to Borrower or credned to Borrower un monthty ~nstallments of Fur.ds. I[ the amount ef the ~-unds
held by Lender shall not be s~icient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 da}s [rom the date not:ce is mailed
by Ltnder to Borrowe~ requesting payment thereof.
U{wn payment m futl of a11 sums stc~rr.d by fhic Mortga¢e, 1 cnder shall promQtly refund to Borrower any F'unds
hdd by Lender. If under paragraph 18 hercot the Property ~~ sold or the Property ~s othervvice acquired by Lender, I.enJer
shall app{y, no later than ~mmediately pnor ~o the sale of the Property or i~s acqu~siuon by Lender, any Funds heW bv
Lender at ~he time ot application as a credit against the sums secured by this Mortgage.
3. Appticatian of Payments. Unlecs appl~cable law provides otherwise. all payments received by I.ender unJer the
Note and paragraph~ '. and 2 hereot shall be app~ied by Lcndcr first in papmcnt of am~~unts payabie to l.ender by Burruwrr
under paragraph 2 hereof, then to mterest payable on the tiute, then to ihe principal of the Note, anJ then to ~nterest and
pnnc~pal on any ruturc Aavances.
a. Charges; Liens. Bormwer .hal; pay :~11 t:ne:. a~tirti~mcnts and ~~thrr rhar~.c~. finec and ~mpo~iuon~ atlributahle tu
tht Propert}~ w•hich may attain a pnerity ~~ver th~~ Mortgagc. and le~thold payments ur grouna rents, if any, in the manner
provided unJer paragraph 2 hereo[ or. ~( not paid in such manner, b~ Bc~rrower meking payment, when due, d~recdy to the
payce thereof. Borrower shall promptly~ furn~~h tu 1_en~ier all notices of amounts duc under th~s paragraph, and in the event
Borrower shall m•rke payment d~recth. B~~rroN~r ~hall promptl~• (urn~sh tn Lender receipls evidencmg wch payments.
Borrower shall promptl}• Jischarge any lien ~h~ch has pnont~• ~~~er th~~ Mortgage: proviJed. that Burrower shall not be
rrqwred to d~scharge any tu.h lir~ ~.~ long as Bnrr~~u~r sl~all egre~ in ~ritmg t~~ the psvmenl ot the obl~gaUon secured b}•
~uch hen ~n a manner a._•rptablr to Ixnder, ~~i ~hall in gcwd f~i~h ci~nte~~ sirch lien hy. or ~efend enforcement of such lien ~n,
legal Pnxeedingti K~hich ~>~rete t.~ preYent the ente~rcement of the i~en or furfe~turr of the Property c~r any part thereof
5. Hazard Insurance. Norrower shall kccp ~he impro~ememti n~~ ctiisung u* here~f:cr crected on the Property inzured
a~ain'st IoSS h}~ firc. h: za~d~ ~ncluded within the term "~xtende~i cove~.+ge", aze+. such other hazardt as I ender ma~• reyu~re
and ~i1 such amuunls and t~~r tiurh perioclc ac l_ender m.+y reqwre; provideJ, that I_~n.ier tihall ~ot reyuire that the am_~unt of
such coverage exceed that am~~un< <~f cewerage r~qu~red to pac ~he wms ~eci~red h} thi~ tilortgage.
~IZte insurancc rarrier providing the ~~s~r.in~e shall be chosen by Borrower subject to approval hy !.ender; provided,
tnat such appro~a! ~hall nat tx unrea.onahh~ w~ithheld. All p~emwm~ on in;ur.~nc~ p~~lic~es ~hall t-e naid in the manner
prov~ded undrr p.~r:,graph ? hereof ~r, if not pa~~9 in tii:ch manncr, hy B~rrower mak~ng payment, when duc, directly to the
insurance carner
AII imuran~r ~,;,L•c~e, an~t renewals therrof shail Fx in form :~ccep~able to LenJer ~nd ~hall include a ttandard morigage
~•lause ~n fav~~r ~~f ~nd in form accep~aMe ro I.ender. l.ender th.;ll have the right tr huld the pulicies and rene~ah ihereof.
and Born~wer ,hali p~:~mn~i} fi!rn~sh t~. Lender all renru:~t not~~eti and all rcccipts c,f ~+:,id prem~um~ (n the event of io~~.
Horr~~wer tihat: gi•.r {~r,.inpt n~,ti~c t~~ thc :n~ur.,si.r ~.~rner :+nd t_en~ler. I.ertdrr ma~ make prae~t uf loss ~t not made pn,mpth
b}~ Burruwer
Unletis ! cnder an~ Bc~ri:~:+rr other~„r egrer in unting. imurance pnxeeJs shall tH: apphed t~ restoration or rep.+ir ~~(
the Propert} ~1am:~Fr~t. pr~~~+.1e.i tiu: h re,turat:~m or repa~r i. rrunumicaily (ratihle and the tecurity of th~s Mortgage ~~
not thereh~ impe~red It ,uch retitura-nm or repcur is nrt, cc~~n~~m~:~ll}~ iras~hle u: if the secunty of thic ~lurtgage w~~uid
hc tmpattrJ. :hc imur.~nie pnxec~lti .hail be applied to thc ~ums Scrute~l by' th~s M~~rtgage. w~th the ~xcess, if a:i). pa~d
to Borr,wrr li ihe Nm{x~n~ ~, ahen~fune:i h~ Kc~rruwer. or ~i B~,rn~wer ta~h t~, res~,nd to I.endcr within 30 da}•~ frum the
~1atr notice ~, ni,i~t~.i h~ Lr;ider t,~ B~,rr~~vc~r that the ~nsurance ~arncr c~tier~ t~~ `ett~~ :t claim for insurance benefitti, l.en~ies
~~ auth~~nted ;~~ ~:~Ile~i .~iid .~ppi: :he in.uran~c ptucee~l~ at 1 riidrr'~ ~~pt~~~n c~ther t~, re.torahon ur tepa~r of thr Prrpert~
or tu the sum~ ~rc~~~c.l h} thn ~turtgagc
Unle~~ 1 cmler :;nd E3~.i:.~Her ~~ther•.+i.~ .,gree in ~nt~ng. an: ,urh applicauim ~~( pn•.:~.Js to pnnc~pa) ~kall n~~t e~tend
or p~~Slp.~ne the .i;~~ d.~tC ~~f tiir m~~nthh mtit.~llm~nt~ rctcrrrd t~~ in pera~raph~ 1.~nii 2 herCUf or ~hange the arn~~un~ ~~f
such imtalirnenh 1! un~er paragra~h i~+ hereut the Pru~.ertc i, acyuireJ h•, i_enJer, .rll right, litle and intereSt ot If~rn.HCr
,a . .,.~. ,i,. ,.. ;;L ,., ;~„1 •, ~h~• ~r~,._-~-t~~i~ eh~~re~~f rcwlnn¢ trum J~maKe lo the Propert} pri~r tu th>_ ~.~ic
~n ai,., ~~ ~:~: : .;:.,;:_r ~=.•.._...; .: . . :~. ;
or acqu~s~t:un ~h;:l! ~:+~~ ti~ Lcnder tr thr rltent uf the ~um~ ,ecur~d h~ th~~ 11<~rtgagr enrnediatel}• pnor t~~ ~uch ,:~le ~~r
acywsition. '
6. .Presenaliun ~nd :laintcnance ot Properi~: I.easrholdc: Cundominiumti; Planned l;nit Ik~elopments. B~irn~«cr
shall keep tl~r Pr~,pert~ ~n b~'~.~ci sc{':+~r and ~hall nc~t cumrpit y.aste ~~r perm~t imp~~rment or deterir.ration of Ihe Proper:}
and shell c.~mply '..rth thc proc~,«~m cri am leasc it Ihi, ~t~,rtg.~gc ~. un ~ lcasch~,ld. If thi; ~lortgagc is on .i ~~nrt ~n e
condomin~um ur a pianned un~t cic~cl~~pmrm. Br~rruwcr .h.~ll ~rrt~,rm all ~,f B~rru~cr's ubligaunns undcr tFe dccL~ratu~n
or covenant. cre~t~ng nr ~:~~vernin~ Ih~ r~~nd~mimium c~~ pl~nned unrt devclapment, the by-lav:~ and reg~il~ti~~n~ ~~f ihe
conJominwm ~,r ~~iar,nc~1 un~t ~c~cl:.~,n~cnt. .in~l r:,~ttitucnt ~lu~umrni~ 1t s c~~n~1o?minium ot plenncd nnir Jc~rl~~~mcnt
nSer n c~ecute.', in Burn~uzr a~«1 rei~.~rJril I~,gether a~th th~~ \t„rt~age. !h~ co~~enante artd .~greemcnt~ c~f ,t!ch n~1.•r
shail he iricarp.~rate:i int~~ an~1 :hall emcnd an~l ~upplement the c~,~rnanh .+n~f agreemcnt~ ~f thn l4l~rtgatie ~s ~f [he :~,1cr
wt'fP 3 f1dfl f Cfl'Of. .
7. Proteilion ot Lender'~ tiece~il}. It R~~rr~~~.cr f.ui~ r,~ prrt~+rm the covenams an~f agrremrnts ~~~ntained .n thi~
.ti1;~rtKagr. ~~r if an~ a~tu,n „r pruree~im~ +• ~~,mni~nrr.l ~.~hi:n m:~trrtall~ .~~irch 1 enJer ; ~ntere.t in the Pn~pc•rtc.
mcluding. hut n~~t linnted t~a ~minrnt d~~m.,in. ~n.~~i.rn:~. ~~~Jc rnt~~n~mcnt ~~r .,rr.~r~~rmcnt~ i,r ~+n~ceedine~ in~~~l••ing a
hankni~t ~~i ~ir.r,~tf~L lfllfl I rri~lrr a( 1;ndet'~ ~~~U~,n. uFx~n m~h~c tr. B~rruwcr. m.~~ ni.~ke ~utih :tpExarance,. ~iitihu~.r ~t~cZi
sumt :+nd ta~c Such e.{i~~r .~~ i~ nc~c~•:+r~ t~~ pr~~tcit I.cndcr'. in~crc~t. in~lu~iine. hut n~~t I~mitcu t~~. ~li~hunrmrnt ~~~
rea~nnai,ie :~~t~,rne~', t:•r. .sml rutr} u~~~~. :hr 1'rrExrtti 1~~ n?.~-.c re~,,,~•, 1~ I,•~~drr reyi~irrJ m~•r!gage in~ur.m~~ a• ,~
a~rn1iL~,n ~,I ni,+k~~~g thic I~~,~n ~c~uic~l h: thi~ ~f~~rti•.i~r. li,~n~.~~.•r ~h ~II ~.~~ Ihr ~tcm~t~im rcy~nrCi! I~~ maint.~~n tiurh
~nsurence i~~ r0ir~t unul .~~.h i~nu .~~ Ihc rcyinrr~nrnt I~,r ,uch ~n,uran:c t~ttnin.rtr. in .~~~c~rd:~n;c t+~th B~~rn~~~rt'. nn~.t
; :;~~ 3~1 E~~~t Z507 : . ._. -.