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UNIPORM COVENANTS. Sormwer and Lende~ covenanl and agree u[ollows:
l. ~~t ot l~iacipi ~ei laterest. - 8arrowe~ shall promptly pay when due tt?e principal of and interest on thc f
indebtcd~ess evidenced by the Note, prepayment and late charges as provided in the Nota, and the pri~cips! of a~d interssl
on any Future Advances secucod by this Monga~e. ~ i~-
F
r ~ d
s to' Tua sni lawnsce, ~bject to applicabk law or to a written waiver by I.ende~. Borrowe~ shall pay ~
to Lender on the day mo~thly instsliments ot principai and inte~est arc payabk under the Note. until the Note is paid in full. '
a tum (berein "Funds") equal to one-twelfth of the yea~ty'taxes and assessoients which may attain prioriry bve~ this
1NortS+~S~• t~~~ rents o~ the Pnoperty~ it a~y. plus onc-tweltth of yearly premium inualln~ents for huard insurance.
ptus one-tweltth of yearly prcmium installmeots for mortgage insurance. if any, all ai reasonably es~imated initially and trom
time to time by Lende~ on the basis of assessments and bills and rcaso~abk estimates thereof. ;
The Funds shatl be hald in an ~i~stitution the depoaits or accouots af which are i~aured or guarantecd by a Federal or ;
state agency (including Lender if l.ende~ is such an irntitution). .I.ender shall apply ihe Funds to pay said taaa. asxuments. . ;
insurance premiums and 6rouad rents. Lender may not charge for so holding and applying the Funds. a~alyzina said account~ • ;
o~ verifying and compiling said assessments and bills, unku Lender pays Borrower interest on the Funds and applicaW~ law
pe~mits Lende~ to mafce 3uch a charge. Borrower and I.er~der may agree in writing at the time of execution of this ;
Mortgage that interesc on the Fuads shall be paid to Botrower. and unkss such agnement is made or applicabk law :
requires such interest to be paid. Lender shall not be required to pay Borrowcr a~y interest or earaings on the Funds. Le~der '
shaQ give to Borrower. without charge, an annual accounting of ~he Fun~is showing crcdits aod debits to ihe Funds and ihe ~ ~
purpose [or which each debit to the Fu~ds wu made. The Funds are pledged as additional socurity for thc sums secured ~
by chis Mongage. •
If the~unount of the Funds held by [.ender, together with the future monthly insrallments of Funds payable prior to
the due dates of taues~ assessmenls. insuran~e premiums and g~aund rents. shall cxcccd the amount required 1o pay said taxes,
assassments, insurance premiums and ground rcnts as they fall due, such excess shall be. at Borrower
s oQtion. either
prwnptly repaid to Borrower or crodited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Leoder shaU not be wlficient to pay tua. assessments. insura~ce premiums and ground rents u they fall duc.
Borrower shalt pay to Lender a~y amount nocessary to makt up the deficiency within 30 days from the date notice is mailed
by Le~der to Bormwer reque,sting payment ihereof. ~ ~
. Upcx~ paymeat in full of all sums aecurtd by this Mortgage, t_ender shall promptly refu~d to Borrower any Funds ;
held by Lcnder. lf under parsgraph 18 hereof the P~opetty is soid or the Propcrty is otherwise acq~rircd by l.ender, Lender
shall apply, oo later than imtnediately~prior to the sale ot Ihe Prope»y or its acquisition by l.ender, any Funds held by
Lender at the time of application as a credit against the sums securcd by this Mortgage.
3. Applicatbs of psya~eats. Unlas applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 aad z hercof shall be applied by ~[_ender 6rst in payme~t of amounts pagable to Lender by Borrower - ~
under paragraph 2 heroof. then to +nterest payabk on the Note, then to the principal of thd Note. and then to interat and
principal on any Future Advanoes. ~
C6srsex Lieas. BoROwer sha11 pay all taxes, assessments and other cha~es, fines and impositions attributable 'to
the Property which may attain a prioriry over_this Mortgage. an~ lessehold payments or g[ound rents. if any. in the m~nner ~
provided under paragraph 2 heroof or, if not paid in such manner. by Borrower making payment, when due. directly to the
payee thereof. Borrower shall prompt{y fumish to Lender all notices of amounts due under this paragraph. aod in tl~e eveat ~
Borrower shall make payment directly. Borrower shall promptly fumish to I.ender rectipts evider~cing such. payments.
Borrower shall promptly disc6arge any lien which has priority over this Mortgage; provided, that Borrower shall not be
r+equirod to disrharge any such lien so long as Borrower shall agree i~ writing.to the payment of the obligation secured by
suc6lien in a manner acceptable to l.ender; or shall in good faith contest such lien by. or defend enforcement of such lien in.
legal proceedings which operate to prevent the enforcement of the lien or for[eiture of the Prop~rty or any part thereaf.
S• Hazard lwwraate. Borrower shall keep the improvcments'now existing or hereafter erected ot~ the Property insured
againat loss by ftre. hazards includec! with+~ tht term "extended coverage", and such other hazards u Lender may rcquire
and in such amaunts and for such periods as Lender may require; provided, that Lender shall not require that the amou~t of
such coverage exceed that amount of cov~erage required to pay the sums securcd by this Mortgage.
The insurance carrier providing the insurance shall be chosen by Barcower'subjecf to approva! by Lender. provided, _
that wch appmval shali not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
provided under paragraph 2 heroof or, if not paid in such.manner. by Borrower making paymeot, whe~ due, directly to the
inwrantx catrier. .
All insurance policies and renewals theroof shall be in form acceptable to l..ernler and shall include a standard mortgage •
clause i~ favor of and ie form uceptable to l.ender. Lender shall have the right to hold the policies and rcnewals ihereof.
aad Borrower shall promptly furniah to Leoder all nnewal notices and all receipt: of paid prcmiums. In the event of loss.
Bortower shall give prompt notice to the insurance canier and l.ender. Lender may make proof of loss if not made promptly
by Borrower. .
Unless Lender ~nd Borrower otheewise agree in writing, insurance procceds shall be appliod to restoration or npair of
the.Propeny damaged, proviekd such restoration or repair is economically feasible and the secority of ihis Mortgage is
not tt~ereby impaircd. If such restoration or rcpair is not economically feasibte or i( the security of this Mottgage would
be impaircd. the inauranve proceods shall be appl~td to the sums securcd by this Mortgage, with lhe excess. if any. paid
to Borrower. If the Ptoperty is abandoncd by Borrower, or if Borrower fails to respond to l.ender within 30 days irom the
date notice is maikd by Ixnder to Bonower that the insurance carrier oRers to settle a claim for insurance benefits. I.tnder
is authorized to collcct and apply the insurance proceais at Lender's option either to restoration or-repair of the Property
or to the sums secured by this Mortgage.
Unless Lende~ and Borrower otherwise agree in writing, any such application ot proceads to principal shal) not extend
or postpone the due date of the monthly~ installments referred to in paragraphs 1 and 2 hereof or change the amount of .
suc~ installrttents. If under puagr~p~ 18 heroof thc Property is acquired by Lender, all right, title and interat of Bonower .
in and to any insurance policies and in and to the proceeds thereof raultiag from damage to the.Property prior Eo the sale
or acquisition shall p~iss to Lender to the extent of the sums securod by this Mortgage immediately prior to such sak or
acquisition. -
6. Preaervatioo aod Maiatenaace of Propedy; Leasc6ofds; Condominiums; Planned Ueit Devdopa~eets. Borrower
shall keep the Property ia good repair and shaU not commit waste or permit impairment or deterioration of the Property
and shall comply with the provisioas of any kase if this Mortgage is on a IeaseHold. If this Morlgage is on a unit•in a
condominium or a planned unit development, Borrower shall perform all of Borrower
s obligations under the deciaration
or covenaats creating or governing the condominium or planned unit development. the by-laws and regulalions of the ~
condominium or planned unit development, and constituent documents. If a condominium or planned unit cievelopment
rider is executed by Borrower and recorded togethec with this Mortgage. the covenants and agreements of such rider
shall be incorporated into and shall amend and supplement the covenants and agretments of this Mortgage u if the rickr
wer4 a part heteof.
~ 9. 1'rotecf~os of Lende~'s Secorily. If Borrower fails lo perform the covenants and agreements contained in this
Mortgage, or if any action ot proceeding is commenced whicb materially aBects Lender
s~ interest in the Properly.
including. but not limittd to. eminent domain. insolvency, code enforcement, or arrangements or proceedings involving ~a
bankrupt or decedent. then Lender at Lender's option, upon notice to Borrower. may make such appearances, disburx such
wms and take such action as is necessary to protect Lender's interest. irscluding, but not limited ~to, disbursement of
reasonable attomey's tees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
condition of making the loan secured by this Mortgage. Borrower shall pay the premiums required to maintain such
insurance in et[ect until such titne as the r~equirement for such insurance terminates in accordance with Borrnwer
s and
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