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UNnRoa~[ CovsH~t~rra. Borrower aad Lende~ covenant and aara u follows:
1. tiq~e~t e[ hic~l aN LMre~t. Borrower shall proanW~Y WY when due the Qrincipal of and iaterat on the
indebtednep evideaoed by the Note, pt+~paymen' and late charges u provided in the Note, aad tbe principal of aad interat
oa any Futuro Advaaces securod by thu Mort~aja..
Z. FrN~ tor 'l~aM a~i Iweoea Sbbject to applicabk law or to a written waiver by Lender, Bomow.er sb~ll paY
to Leader on tbe day mopthty installments of priacipal and interest are payabk under the Note. uatil the Note is paid in fuU,
s wm~ (herein •'Fuadt'~ equal to one-twelfth . of the yearly taxes sod assas~nents which may attaia priority over thia ~
Mortsa,~e, aad ar~ound t~eab q~ the prope~ty, if any. plus oae-twelfth of yearty pre~nium iastailmenta for hazard inw~ancx.
Mus ono-twelfth of Yearly premium iastallments for mo~tgsae insurance. if aay. all as re~sonably estiauted initially aad irom
time to Wne by Lee~der oa t6e b~is of auasments aad bilis and reasonabk atimata thereoi.
'1Le fi~nds sbal! be held ia an institution the deposits or accounts of which are iasured oc guaraoteed by a Federal or
atite age:~cy (including Leader if Leader is such an iaatitution). I.ender ahall apply the Funds to pay said taxes. asseuments.
iasurance aemiwns aad gmund reats. Lender may not chuge for so holding arid aPplYing the Funds. analyziag aaid account,
or verifyin~ and oompling said auessments and bills. ualess Leader pays Bormwer interat on tbe Funds and applicabla law
permits Lender to make such a char~e. Borrower and Lender may agrea in writiag at the time of eacecution of this
Mort~age tbat iaterat on the Fuads shall be p~id to Borrower. and ualess, such agreement is made or applicabk law
requires wch interest to bt paid~ Lender shall ~ot be roquirod to pay Borrower any interest or earaings on We Funds. i.ender
s6a11 give to Borrower~ wittwut charge, an annual accounting of the Funds showing credits and debits to the Funds and the
purpoae for which each debit to the Fuads was made. The Funds are pledged as additional sa~urity for -tt~e sums secured
by thia Mortgage. _
If tl~e amount of the Fun~ held by Lender. together with the future monthly instaliments of Funds payable ~rior to
the due dates of ta~ces~ assessments; ieuuranoe premiums and ground rents. shall exoxd the amouat required to pay uid taxes.
a:seasanents, ituuranoe premiuras and ground rents as they fall due, such excas shal) be. at Borrower's option. either
praaptly repaid to Bore+ower or credited to Bormwer on monthly installments of Fuads. If the amount of the Funds
held by Lender shall not be s~cient to pay taxes. assessmenta. insurance promiums and ground rcnts aa they fall due.
Bormwer shaU pay to Lendec~any amount necessary to make up the deficiency within 30 days fmm the date notioe is mailed
br Leader to Borrowbr requestmg payment thereof. _
Upon payment in full of all sums securod by this Mortgage. Lender shall promptly refund to Borrower any Funda
held by L.eader. 1f under paragrap6 18 hereof the Property is sold or the Property is othecwise acquired by L.ender. Lender
shaU apply, no later Wan immediately prior to the sale of the Property or its acquisition by Lender, any Fuads held by
Lender at the time of application as a credit against the sums securod by this Mortgage.
3. Applicatiw~ ot p~~rmests. Unless applicable law provides otherwise, all paycaents received by Lender under the
Note aad paragraphs 1 and 2 hereof shall be applied by Lender 6~st in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof, thea to iaterest paysbk on the Note. then to the principal of the Note, and then to interest and
principal on any Future Advances.
4• C~uRe~ Lkos. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributabk to
We Propetty which may attain a priority over this Mortgage. and kasehold payments or ground rents. if any, in the manner
providad under paragraph 2 hercof or, if not paid in such manner. by Borrower making paytnent, when due, direcdy to the ~
payee thenoof. Borrnwer shall pranptly fumish to l.ender ali notices of amouats due under this paragraph. and in the eveot
Bomower shall make payment directly. Borrower shall promptly fumish to~L.ender raxipts evide~cing such payments.
Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
required to discharge any such lien so long as Borrower sha11 agree in writing to the payment of the obligation secured by
such lien in a manner acceptabk to Lender, or shall in good faith contat such lien by. or defend enforcement of such lien iq
kgal proceedings which operate to preveat the enforcement of the lien or fodeiture .of the Properly or any part theceof.
S• Hazud I~araace. Botrower s6a11 kcep the improvements now exiuing or hereafter erectod on the Property insured
~againat loas by Sre. hazards included within the term "extended coverage"', and such other hazards as l.ender may require
and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
such rnverage eaoeed that amount of coversge required to pay the sums securcd by this Mortgage.
"Ibe inwranoe carrier providing t6e insurance shall be chosen by Borrower subject to approvil by I.ender, pmvided,
that such approval sha11 not be unreasonably withheld. All premiums on insuranoe policies shall be paid in the manner
! providod under paragraph 2 hereof or, if not paid in such manner, by Bonower making payment. when due. directly to the
insurance carrier.
All inwrance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
clause in favor of and in form acceptable to Leader. Lender shall have the right to hold the policies and renewals thereof,
~ and Borrower shall prompdy fumish to Lender alt renewal noticas and all recxipts of paid pnmiums. In the event of loss,
Borrower shall give prompt notice to the insurance carrier and l.ender. [.ender may make proof of loss if not mada promptly
by Borcower. .
Ualess Lender and Borrower otherwise agrce in writing. insurance procceds shall be applied to ratoration or repair of
the Pmperty damaged, provided such restoration or repair is economically teasible and the socurity of this Mortgage is ~
not thereby impaired. If such restoration or repair is not economically fusibk or if the security of this Mongage.would ~
be impaired, the insuranct proceods shall be applicd to the surns securcd by this Mortgage, with the excess. if any. paid
to Borrower. If the Property is abandoned by Borrower, or i[ Borrower fails to respond to Leader within 30 days from the ~
~ date notice is mailed by Lender to Borrower that the insurance carrier ofters to settle a claim for insurance bene6ts. Lender
~ is authorized to collcct and apply the insuraace proceeds at Lender's option either to restoration or repair of the Property ~
or to the sums securcd by this Mortgage. ?
Unless Lender and Bonower otherwise agree in writing, any such application of proceeds to principal shall not extend ~
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change ihe amount of ;
such installments. If under pazagraph 18 hereof the Property is acquired by Leader, all right, tide and intercst of Borrower
in and to any insurance policies aad in and to the proceeds tl~ereof resulting from damage to the Property prior to the sale ~
or acquisition shall pass to Lender to the extent of the sums securod by this Mortgage immediately prior to such sak or
acquisition. ~
6. h+aervatbe asd Maiiteasoce of Property; I.tiSlIIOI~ CORdOt11~61Y111~ PISIIOtd UON DlrtlO~Iptlllf. Borrower a
; shall kcep the Propetty in good repair and shall not c~mmit waste or permit impairment or deterioration of the Property '
~ and shall comply with the provisions of any lease if this Mortgage is on a leasehold. _!f this Mortgage is on a unit in a ~
~ condominium or a ptanned unit development. Bonower shall perform all of Borrower's obligations under the declaration ~
or covenants creating or gove,~ning the condominium or planned unit development, the'by-laws and regulations of the ~
condominium or pianned unit development. and constituent documents. If a condominium or planned unit development '
~ rider is executed by Borrower and recorded together with this Mortgage, the covenants and agraments of such rider ;
shall be incorporated into and s6aU ameod and supplerpeat the covenants aad agraoaents of this Mortgage u if the rider
y were a put hereof. -
~ Protectlon of Leader's Secndtr. If Borrower fails to perform the covenants and agrcements contained in this
Mongage. or if any action or proceeding is commenced which materially affects Lender's interest in the Property.
~ocluding, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceodings involving a
bankrupt or decedent, then Leoder at Lender's option~ upon noticx to Borrower. may make such appearances, disburse such
sums and take such action as is n~essary to protxt l.ender's interest, including, but not limited to. disbursemeot of
reasonable attomey's fees and entry upon the Property to make repairs. If Lender requircd mottgage iasurance u a
condition of making the loan secured by this Mortgage. Borrower shall pay the premiums roquirod to maintain such ~
insuraaa in effcet until such time as the rcquiremeat for such insurance terminates in aooo~dance with Borrower's and
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