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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />Dn any Future Advances secured by this MDrtgage.
<br />2. Funds for Taxes and Insurance, Subject to applicable law or to a written waiver by Lender, BorrDwer shall pay
<br />to Lender on the day monthly installments Df principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus Dne-twelfth Df yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bjlls and reasonable estimates thereof.
<br />The Funds shaH be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution).- lender shall apply the Funds to pay said taxes. assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounring of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made, The Funds are pledged as additional security for the sums secured
<br />by this Mortgage,
<br />If the amount Df the Funds held by Lender, together with the future monthlv installments of Funds payable prior tD
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Lender any amount necessary to make up [he deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender, If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this ~lortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereDf shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2. hereof, then to interest payable on the Note. then to the principal of the Note, and then to interest and
<br />principal on any Future Advances,
<br />4. Charges; Liens. Borrower shall pay all taxes. assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this !\.1ortgagc, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment. when due. directly to the
<br />payee thereof. BorrDwer shall promptly furnish to Lender all nolices "f amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Herrower shall promptly furnish [0 Lender receipts evidencing such payments,
<br />Borrower shall promptly discharge any lien which has priority o\'er this Mortgage: provided, that Borrower shaH not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard Insurance. Borrower shaH keep [he improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided. tha[ Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the slims s.ecured by this r\'longage.
<br />The insurance carrier providing the insurance shaH be chosen by Borrower subject to approval by Lender~ provided,
<br />that such approval shall not be unreasonably withheld, All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if nDt paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a ~tandard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make prool of loss if not made promptly
<br />by BorrDwer,
<br />Unless Lender and Borrower otherwise agree in writing, insunmce proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security Df this Mortgage is
<br />not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insuranc~ carrier otfer~ to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this MDrtgage,
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments, If under paragraph 18 hereof the Property is acquired hy Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this l\1ortgage immediately prior to such sale or
<br />acquisition,
<br />6. Presenation and l\-Iaintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the PrDperty in good repair and shall not commit waste or permit impairment or deterioratiDn of the Property
<br />and shall comply with the prDvisions Df any lease if this Mortgage is Dn a leasehold, If 'his MDrtgage is Dn a unit in "
<br />condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or planned unit development, a.nd t,,;onstituent docum~nls. It a condominium or planned unit Jevt:lopment
<br />rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of slIch rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements l)f this Mortgage as if the rider
<br />were a parI hereof,
<br />7. Protection of Lender'"s Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Morlgage, or if any acuoo or proceeding is cummenced which materially all'ccts Lender's interest in the Property.
<br />. includins, but not limited to, eminent domain. insolvency, code enforcement. or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, llpon notice to Borrower, may make such .lppearanccs. disburse such
<br />sums and take such action as is necessary to protecl Lender's interest, lllcluding, but not limited to, disburscme-nt ilf
<br />reasonable attorney's fees and cOlry upon the Property to make repairs. If Lender required DhJ1'tgage insuJ"anc~ as ~\
<br />condition of making the loan secured by thIS Mortgage. Borrower shall pay the premiums -required h.l maIntain !\uch
<br />insUHUlCC in effe"t until such time as the requirement for such msurance termJnates 111 JCl.:ordan.;c with Bornv\o\'er\ and
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