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UNi~ORI~t COVCNANR. BOR+OMIl~ itld L+QQdCt COVCOaflt alld a~~e! is EOI~OMi:
1. l~seN af t~i~c}~I aN LMe~at. Botrower shsQ P~P~~y P~?Y M?ben due the princjpal ot and inte~st on the
indebtedne~s evidenoed by the Not0. prepi?~t u~ late chana u provided in the NotR and tl~e principd ot and iataest
on aay Fwur+e Advances ~ecured by this Mwt=s,=e.
3. Ih~is tor '13n~~s a~i l~wra~ce. Slibject to applicabb law or to a written waive~ by Lender. BorroMrer shall paY
to Lender on the day monthly installmeMs of principa! and intercst an paysbk under the Note, uMil tbe Nae is paid ia iup.
a sum (hercin "Fuad~'~ eqwl to a~o-twelhh of the ye~dy tazas and as~asmtnts which enay attain pnoriry ovu tlih
Monta~e, and arouad rena oa cde Pr~arcq, if aay. plus oao-twelfth of Ye~r1Y Pnmium inuallet~enu for hsurd in:urana~
plus oao-twelf•h of yearly Premium iostaliments for mo~a~e insurance. if my. sll u ressonably estimsted initially and trom
~ time to time by Lender oa tbe buis of assasments and bills a~d rcssonabk estimates thereof.
'11~e Runds shatl be heid in an institution the depoaits or accounts of which are insured or gua~anteed by a Fedetal or
state ag~ency (including Leqder if Lender is such a» institution). Lender shall apply the Funds to pay said taues, asseasmcnts.
insuranoe premiwms aad ground rents. [.ender may not char~e for so holding and applying the Funds. analyzina taid acoount,
or verifying and compiling said assessments and biUs. unlas Lender pays Borrowe~ interest on the Fun~ aad appiiatbk law
permits Lender to make such a charge. Borrower and Lender may agree in writi~g ai the time of execution of this
Mohgng+e that ;nterat on the Funds shall' be paid to Borrower. and unless such agroement is made or applicable law
requires such interest to be paid, Lender shali not be required to pay Borrower any interest or earnings on the Funds. Lender
shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds aad the
purpose for which each debit to the Funds was made. The Funds are pledgod as additional security for the sums sa~ured
by ihis Mortgage.
If the amount oE the Fwids heW by Lender, together with the future monthly instaliments of Funds payabk prior to
rhe duc dates of taxcs, assessments. insura~ce premiums and ground rents. shaif eaceod the amount reqaired to pay aaid tua,
sssessments. insnrance pramiums and ground r~nts as ~hey fall du~, such excess shall be. at Bonowei s option. either
pranptly repaid to Botnower or credited to Boroower on monthly installments of Funds. If the amount of the Funds
; held by I.ender shall not be sut8cient to pay taxes. as~ssments, insurance premiums and ground rents as they fatl due.
Borrower shall pay to Lende~ a~y amou~t necessary ta make up tt~e deficiency within 30 days from the datt notisx is maikd
by Leader to Horrower nquesting payment thereof. '
Upoa payrqenf ia full of all sums securod by this Mortgage, t_ender shall promptly refund to Borrower any Funds
held by Lender. If uadec paragraph 18 hereof'the Property is sold or the Property is oti~envise acquircd by Lender. Leader
shail apply. no later tyan immediately prior to the sak of the Property_ or its acquisition by Lende~. any Funds held by
Lender at the time of application as a credit.against the sums secured by this Mortgage. '
3• App~katiow ot Pap~a~b. Unless applicable law Provicks otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Le~der by Borrower
uader puagraph 2 hercof. then to interest payable on the Note, then to the principal of ttie Note. and then to interest and
principal on any Future Advances. ~
C~ex Lieas. Borrower shall pay all ta~cs, asseume~ts and other charges, fines and impositions attributabk to
the Property which may attain a priority over thic Mortgage. and leasehold payments or ground rents. if any. i~ the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, wheit due, directly to the
payee the~eof. Borrower shall promptly furnish to Lender all notices of amounts due un~kr this paragraph, and in the eveat
Borrower shall make payment directly, Borrower shall promptly furnish to l.ender receipts evidencing such payments.
Bonower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall iat be
required to discharge any such lien so long as Borrower shall agree irt writing to the payment of the obligation secured by
such lien in a manner acceptabk to Lendtr. or shall in good faith contest such lien by. or defend enforcement of such lien in,
legal proceedings which operate to prevent the enforcement ot thc lien or forfeiture of the Propeny or any part thercof.
S• Hazard I~nece. Borrower shall keep the improvements now existing or hereafte~ erccted on the Propcrty insurod
against loss by fire. hazards included within the term "eztended coverage", and such other hazards as Lender may require
and in such amounts and fo~ such periods~as Lender may requirc: provided, that Lender shall not rcquire that the amount of
such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
"ILe insurance carrier providing the insurance shall be chosen by Bonower subject to approval by L.ender, providod.
t6at such approval shall not be unreasanably withhefd. All prcmiums on insurance policies shal! be paid in the manner
provided uader paragraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due. directly to the
insurance carrier.
All insunnce~policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
clause in favor of aad in form acceptabk to Lender. Lender sha!! have the right to hold the policies and renewals thereof.
and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
Borrower shall give prompt notice to the insurance carrier and l.ender. Lender may make proof of loss if not made promptty
by Bomower. '
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage woutd
be impaired, the insuraocx p~oceeds shall be applied to the sums secured by this Mortgage, w+th the excrss. if any, paid
to Borrower. If the Property is abandoned by Sorrower, or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by Lend~r to Borrower that the insurance car~ier offers to settle a claim for insuraace bene6ts. I.tnder
is authorizod to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
or W the sums securod by Wis Mortgage.
Unlus I.ender and Bonower otherwise agree in writing, any such application of proceeds to principal shall not extead
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 horeof or change the amount of
such installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, titk and interat of Borrower
in and to any iasurance policies aad in and to the proceeds theroof resulting from damage to tbt Ptoperty prior to the sak
or acquiaition shall pass to Lender to the extent of the sums secured by this Mortgage immodiately prior _to such sak or
acquisition.
6. Preservatbu asd Maiotenance oE Property; Leaseholds; Condomiaiums; Planeed Uoit Devdormeofs. Borrower
. shall ketp the Property ip good repair and shail not commit waste or permit impairment or deterioration of the Property
and shall comply with the provesions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development. Borrower shall perform all of Bormwer
s obligations under the declaradon
or covenaats creating or governing the condominium or pla~ned unit development, the by-laws and regulations of tbe
condominiem or planned unit development, and constituent documents. If a condominium or planned unit development
rider is extcuted by Borrower and recorded together with this Mortgage, the covenants and agroements of sueh rider
shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider.
were a part heteof. .
9• Pc~otection of Lende~s Secnrity. If Borrower fails to perform the covenants and agreements cor~tained i~ this
Mortgage, or if any action or proceeding is commenced which matcriaUy affects Lender's interost in the Property.
including, but not limited to, erninent domain, insolvency, code enforcement. or arrangements or proceedin$s imolvioa a
- bankrupt or daxdent. then Lender at Lender's option, up~n notice to Borrower, may make such appeatanves, dutiurse wch
sutns and take such action as is neoessary to protect Lender's interest. including, but not limitsd w~ diabursema~t of
rea:onable attomey's foes and entry upon the Property" to mak~ repairs. If Lender required mor,tgs~e insurance as a
coadition of makiag the losn secured by this Mortgage. Borrower shall pay the premiums required to maiatain wch ~
insuraace in etfect unti! such time as the requirement for such ip~ur~ ~~ates in acxordancx wit6 Borrowtr's aad
~ t..?
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