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UNIroaM COVtnAN». HOriOM-tr sud l.ender covEaant and ssfo! ss IOlbws: •
1~ hq'~M N hre~l a~i I~Nnrl. 8or~ovver shall p~omW~f Wy when due tbe priocipsl ot and inte~st on the
atdebtedaea evideaoed bp the NW0. p~p~I~nt and late char~ec a.c ~xovided in Ihe Note. and the principal ot and intaest
oa aoy Fut~u~e Advances ~ecurod ~- this Mo~a~e.
1!~i hr'I~N a~i I~wneee. Subject to applicabk law ~x to a written waiver by Le~der, eo~o*-K ~+.u wr
to Lee~der oe ~ha day ma~thly installments of principal and intcrcst irr payaMe unde~ the Note. until the Note is psid in tull.
s wm (I~ein "Fund~'q equal to one-tweltth ot the yea~l~• tax« and auasments which may attain priority oyer this
Mats.je. and ~ro~d reaa on che Propeny. it aay. E+lus onrtweltth ot yearly~ premium iauallmenb (or hazard insunnce.
plta ooe-twellth oE yeuly premium installmems [or mort~ase inu~nncc. if any. all u rcasonably estimated initially and iro~n
dme to time by Leader on tbe basis of ass~ssments and hills and rcasooabk atimata theceot.
The Flinds shall be 6eld in an institution the deposia or accounts of whicA ue insuted or Naranteed by • Federal olr
state ajencp (includin~ I.ender if Lcoder is such an ins~itutionl. 1_ender shall apply the Funds to pay said lues. ass~meMs.
irouranoe premiums and ~ound rents. l.ender may oat chuse for se+ hoklin` and applyins the F~mds. analyzin~ said accoun~
or verifyins.aed complins uid assessmeots aod bilh. unku Lender pays Borrower interat on tlie Funds aed applicabk law
perntiq Ltnder to make such a char~e. Borrowe~ and Lende~ may a~rce in writins at ~he time ot ezceution o[ tha
Mort~a~e t6at interat oe the Fuads shalt be paid to Botrowe~. and unkss wch a~oemc~t is made or app~~cable ~aw
r~quiea wch interat to be paid. Lender shall not be rcquired to pay Borrowe~ any in~erat or amings on tAe Funds. l.ender
sbaU pve to Borrower. without chu~e, an annwl accounting of ~he Funds showin~ crediu and debits to the Funds and the
pnrpose tor which each debit to t6e Funds was made. The Fu~~ds aro pledgod u additio~al security for the sums secured
by this Mortpse.
U tbe amount ot tAe Fuads held by [.ender, togethtr with ~he future mon~hly i~stallments ot Funds payabk prior to
tbe due data of taxes. assessmeats. insurance promiums a~d ground rcnts, shalt excced the amount required to p~y said taxa.
as~nents. iewranoe premiutns snd ground rents as they tall due, such excess shall be. at Borrower s option, eilher
pramptly repaid to Hormwer or ctedited to Borrower on monthly installments of Funds. I[ the amount ot the Funds
beld bq Lreod~r shall aot be wRkieat to pay taxes. as~asments. insurance premiums and ground rcnts as they tall due.
Borm~-e~ shall pay to Leode~ any amount neoessary to make up tt~e deBciency within 30 dsys f~om the date notice is mailed
bp I.eader W Borrower requatiaS paYment thereof.
Upon payment ia lull of all sums tecurcd by this Mongage, l_ender shall promptly refund to Borrower ang Fun~
held by I.ender. If uader paragraph 18 hereof the Pwpeny is sold or the Property ~s otherwise acquired by l.ender, Lender
s6dl apply. no later tban immediately prior to the sak of the Property or its acquisition by Lender. any Funds held bv
I.eoder at the time of application u a credit against the sums secured by this Mortgage.
3. A~lieatio~ ot Pyr~eds. Unless applicabk law provida oth~rwise, all payments teceived by l.endtr under the
Note aad paraEcaphs I and 2 hereof shall be applied by I_ender first in payment of amounts payable to Lender by Borrower
undet psisaraph 2 heteof. t6ea to interest payabk on thc Nwe, then to the principal of the Nwe. and tixn to interest and
principal or~ any Futun Advanva.
4. C~es; Lk~. Borrower shall pay all •laxa, asxssments and other charges. fines and ~mpositions attributable to
the Properiy which tnay attain a priority over this Mongage, and leasehold payments or gt~our~ rcnts. if any, in the manaer
providod under paragaph 2 heroo[ or, it not paid in such manner, by Borrower making payment, wha~ due, direcdy to the
pay~ee theeeof. Borrowu shall promptly fumish to Lender all notices of amounts due under this pangrapF-. and in the event
Borrower shall roake payment diroctly, Borrower shall promptly tumish to Lender receipts evidencing such paymenu.
Borrowet shall pc~anp~ly discharge any lien which has priority over this Mortgage: provided, that Borrower shall not be
ooquired to discharge any such lien so long u Borrower shall agree in writing to the payment of the obligatiun securcd by
such lien in a manner accep~able to Lend~r, or sh•rll in good faith contes~ such lien by, or defend enforcement of such lien in,
legal proceedings which operale to prevent the enfurcement o( the lien or [orfeiture of the Property or any part thereof.
S. Harard Inwra~ce. Borrower shall keep the ~mprovements now existing ur hereafter erated on the Property insured
against loss by 6re, hazuds included with~n the term "extended coverage", and such o~her hazards as lxnder may rcquire
wd in such amounts and for such periods as Lender may require: provided, that Lender shall not requirc that the amount of
such coverage eaceed that amount of coverage requircd to pay ~he sums securcd'by this Mottaaae.
T6~ insursnce carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided.
t6st wch approval shall not be unreasonably withheld. All premiums-on insurance poliaa shafl be paid in the manner
provided uoder paragraph 2 hercof or, if not paid in such manner, by Borrower making payment, when due, direcily to the
iosurance carrier.
All insurance policies and renewals therrof xhall be in form acceptable tq. Lender and shall include a standard mortgage
clause in favor of and in form uceptable to Lender. Lender shall have the right to hold the policia and renewals thereof.
aad Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid prcmiums. ln the event of loss.
Borrower shall give prompt notice to the insuranee carrier and Lender. Lertder may make proof of loss if not made promptly
by Borrower.
~ Unless Lender and Borrower otherwise agrec in writ~ng, insur~nce proceeels shall be applied to rcstoration ot repair of
the Property damaged, proviJtd such rtstorat~on or repair is economically feasible and tht seeurity of this Mortgage is
not thereby impaired. It such rcstoration or repa~r is not economically feasibie or if ~he security of this Mortgage would
be impaired. the insurance proceeds shall be applied to the sums seci~reJ by this Mortgage, with the eacess, if any, paid
to Borrower. If the Praperty is abandoned by Borrower, or it Borrower fails to respond to Lender within 30 days from the
date notice ~s mailed by l,ender to Borrower that the insurance carrier oHers to satle a claim for insurance benefits. Lender
is aut6orized to collect and apply the insurance proceeds at 1_ender's option either to restoration or repalr of ihe Propertv
or to ihe sums securcd by this Mertgage.
Uoless Lender and Borrower otherwise agtec in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments rcterred to in Paragraph~ 1 and 2 hereof or change the amount of
wc6 installmeau. If under paragraph 18 hercof the ProE,erty is acqwred by Lender, ali nght. title and interest ot Borrower
in and to any Insurance policia and in and to the proceeds thereof resulung from damage to the Property prior to thc sale
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
6. rr+esers~atioo and "~taintenance of Property; Leaschulds; Condominiums; Pla~ned Unit Devebpmeats. Borrower
shall ~eep the Property in good repair and shall not comroit yvaste or permit impairment or deterioration of the Property
and shall comply with the provis~ons of any Itax if Ihis Mortgage is on a leasehold. If this Mortgage is on a unit in a
coadominium or a planncd unit development. Borrower shall per(orm all ot Borrower s obligations under the declaration
or coveoants creating or governing the condommium or planncd unit development, the by-laws and regulations of the
condominium or planned.unit develu~,ment. :+nd constituem document~. If a condominium or planned unit development
rider is eaecuted by Borrower and recorded together wrth ~his Mortgage, ~he covenants and agreements ot such rider
shall be incorporated into and shall amend and supplement the covenants and agreemeots of this Mortgage as if the riJer
were a part hertof.
7. Protectioa of I.ender's Security. It Bortower fads t~ pertorm the covenants and agceements contained in this
Morlgage, or it any action or ptoceed~ng i~ commeneed which materially afiects LenJer's interest in the Property.
includmg. but not lim~ted to, eminent domain. ince~lvency. :.ode en(orcement, ar arrangemen~s or proceedings invoh•ing a
bankrup~ or decedem. then l.ender at I.ender's option, upon notice ta Borrower, ma}• make such appearances, dishurse such
sums and take such action as is necectiary tu prolect l.ender s interest, incluJing, but not limrted to, disbursement ot
reasonahle attomey's (e~s and entry upon thc Prope~ty to make rcpa~n. It I.cnder requircd mortgage inwrance as a
condition ot mafcmg the loan ~ecureJ by ~h~s Mortgagc. Born:..~r sh.dl pay the premiums requireJ to maintam such
insurance in eHect until such time as the requirement for ~uch msuran;e ~erminates in :~ccordance with Borrow•er's anJ
~~'~ 3~8 P~~E 461
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