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<br />83-' ()(j5063
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<br />UNIPORM COVENANTS. Borrower and Lender coVenant and agree as follows:
<br />1. Payment of PdneipIlIIIIICIIDIerest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Nnte. prepayment and late charges as provided in the Note. and the principal of and interest
<br />on anyPuturt Adyances secured by this Mortgage.
<br />:Z. Fiuods for T_ 1lllCl1-.e. Subject to applicable law or to a written waiver by Lender, BolTower. shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note. until the Note is paid in full.
<br />a .um (herein "Funds") equal to one..twelftl1 of the yearly taxes and- assessments 'Yhich may attain, priority- over. this
<br />Mortgage, and ground rents on tbe Property. if any. plus one-twelfth of yearly premium installments for hazard insurance;
<br />plus one-lWelfth of yearly premium installments for mortgage insorance. if any. alias reasonably estimated initially and from
<br />time to -time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed- by a .Federal,-ar
<br />state agency (including Lender if Lender is such an institUlion), Lender shall apply the Funds to pay said!axes, as....ments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds. analyzing saidacrount,
<br />or verifying and compiling said assessments and bills. unless Lender pays Borrower interest on tbe 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'th!s
<br />Mortgage that interest on the Funds shaH 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 10 pay Borrower any interest or earnings on the Funds. Lender
<br />shaH give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds al~d 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 of the Funds held by Lender. logether with the tOlure monthly installments of Funds payable prior to
<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 f~1I 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. a,~'iCS-.'\ment:;. insurance premiums and ground rents as they fall due,
<br />Borrower shaU pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment there-of.
<br />Upon payment in full of all sums secured by this Mortgage. Lcnder shall promptly refund to Borrower any Funds
<br />held by _Lender. If under paragraph 18 hereof the Propeny I:;' sold or {he Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prJor to- the sale 0f the Property or ils acquisition by Lender. any Funds held by
<br />Lender at the time or application as a credit against lhe sums secured by this Mortgage.
<br />3. Application of Payments. UnJess applicable law provides Qrherwi'Se. all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first in p.iyment of amounts payable ro Lender by Borrower
<br />under paragraph 2 hereof. then to interest payable on the NOle. then 10 the prJncipal of the Note, and then to interest and
<br />principal on any Future Adyances.
<br />4. Charps; LIens.. Bllrrower <;haH pay ail t~xcs. assessments and other charges. tines and impositions auributahle to
<br />the Property which may attain a priority over thi~ Mongage. and leasehold payments or ground rents. if any, in the manner
<br />provided under paragraph 2 hereof or. if not paid in such n1anncr, by Borrower making payment. when due. directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under lhis paragraph. and in the event
<br />Borrower ~hal1 make payment directly, Borrower \haJl promptly furnish to l.ender receipts evidencing such payments.
<br />Borrower shaJI prompdy discharge any lien which has pnorHY over thiS Mortgag.e; provided. that Borrower shall not be
<br />required to discharge any such lien so lone: as Borrower shaH agree in wrltmg to the payment of the obligation secured by
<br />such lien in a manner accc:ptabJe 10 L~nder. or shall in good faith conlcst such lien by. or defend enforcement of su-\:h lien in,
<br />legal proceed-lngs which operate to prevent the enforcement of the lien llf forfeiture of the Property (If any part thereof.
<br />s~ Hazard IlISItI1Iftee. Borrower shall keep th~ iJ'llpw\'cmenh 110V.- nis.ung or hereafter ereclcd on the ProperlY jnsur.ed
<br />against loss by fire. hazards included withm the term .'c'tcndcd (:ovt:ragc", and $!h.:h mher hazards as l.ender may reqUire
<br />and in sucn amounts and for sU$;h r<:riods as Lellder may n:(.jlJlrl~; provided. thai Lemler ~hall not re(.juire that the amount 1.'f
<br />such coverage exce.:d that amount (If cl.\Yt~rage reqUIred 10 r~ty the ..um.. ~tcured by thts Mortgage.
<br />Tbc imurancc .:arrier providing the in~uranl.:c ~h;dl be chosen by Borrower subject to .ipproval by Lender: provided,
<br />that such approval shall not be unreasonably withheld. All premiums. (HI insurancl: policies shaH be paid in the manner
<br />provided under paragraph :2 hereof Of. if not p;.ud in such manner. by Borrow~r ma.ki_llg payment. when due, directly to the
<br />insuraxK.'e carrier.
<br />All insuranc-e po-hClCS and renewals lhereut shaH b<.: in fonn. <h.'ceplOiblc to LcnJcr and ~haU wdude a stanuard mQngagl.~
<br />clause in favor of and In form ~el.:eplable '0 l.end.:r. Lemler ~h.lil have the right W hold '-he polide!\ and renewals thereof,
<br />and Borrower shall prompdy furnish ro Lender ail renew.!1 notices and all rcccipls of paid premium~. In the event of loss,
<br />Borrower shall give prompt nOlil'.'e to {OO in~uranf.:-c carrier anti Lender. Lender may make pWt.t of loss if not made promptly
<br />by Borrower.
<br />Un1e;ss Lender and Borrower otherwise agrc,,'~ in wrirlng. in"urancc, prO\:ccds shall be applied to restoration or repair ()f
<br />the ProperlY damaged. prowUed such restoration or ct.:pair is e-c:unonu;;ally feasible .wd the security of thiS Mortgage i~
<br />not thereby impaired. It soch teSh.1fUtion or repair IS nut ccoo\)ffiKally feasible or if the security of this Mortgage would
<br />be impaired, tbe iDSUfaOce proceed.s shaH be applied lu the sums ~~ufed by ihis Mongage, wnh the eXce~l), if any, paid
<br />to Borrower. If the Property is abandoned hy Borrower, or H Borrower f<1lb. to respond to Lender within 30 days from the
<br />date notice is maded by Lender to BOfJ'ower that the Insurance ~arrier offers to settle ;;\ daim fOf in5.urance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoralion or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otberwi!oie agree in "-riling. any s\lch application or proceeds to' pnncipal shall not extend
<br />or postpone the due date of the monthly instaUments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such tnstaUmenls:. If under paragraph i8 hereof the Ptopc-rty l~ acqutfcd by Lender, all right, title and interest of Borrower
<br />in and to -any insurance poiicies and in and to the proceed$ thereof r~u1ting from damage- to lhe ProperlY prior to the s-ale
<br />or acquisition sball pa$S to Lender to the extent of the SUlllS secured by thiS Mortgage immediately prior to such sale or
<br />acquisition,
<br />6. PIue:o'aa... aad Mai:ateDann of Propert,,; Lease-holds.; <:undonUniums;. Planned Unit IRveJopmenls. Borrower
<br />shall k-ccp the Property in good repair and shall. not commil wastl: or permn impairmem or deterioration of the Propeny
<br />-lld shan _CQIDply with the pro-visions 0{ any Sease if thl~ Mortgage IS on Of leasehold. If this ~,'fortgai:_c i5; on ;t HuH 111 ~l
<br />condominlutn or- a plan-ned untt development. Borrower "hall perform all of B\.1rro-wer's obhgalions under the declaration
<br />or covenants c:reabng or governing the condominiu.m or planned onit dev~lopment, the by-lawh and regulations. of the
<br />con.dominluni Of pl.anQed unit development. lUlU coojotituenl uocumelH~, If a condommium or planned \HHt. devt'-lopment
<br />rider is ,t~tCd by Borrow.- and recorded togei-her with this- Mortgage. the ~ovenanl~ and agreemenu of such rider
<br />~.bejl1COZpQrated- into and shall amend .and sup-pIe-meat the c<.wt.nants and agreements of thi~ Mortgage a!O it the rider
<br />__ a puth<<ool.
<br />'., _ ~ of ......... Secad1y.. ]f Borr-o-w("-f f aib t(l perform the .c:ovenant!j and agreements contained in this
<br />~'Of if aDY Kt<<m Of pc~i.ag l~ commenced which Jll-&tcIiaUy ~tft'et;t$ Lender's I!ueresc in the Pro~rty,
<br />j;Qd~-hut-:not Umited t_a~ emi,neut doanaia~ i.Moi~ncy. (:ode ellfon:::.enwHt, t~r arrangeDwflts or prO<..~edings lfivdlviug a
<br />blakrU~,Of, ~4 theb -Lender- at Lender's option, upon not,let! w Borrower. m~y' m~ke_ such appearauf:;ts. disbursc l'uct~
<br />~ a:n4 Qt._ IUC'h Jg;tKm- as II r~ tv pn-)tect L-endtr"g mt-e.r~t, Ii-\dm"hni. but not linl1u::d W, dlmuRemenl (tt
<br />r~ at.~;. r... and entry upQn tbe Prope-rty IQ make r1:-p-~ur'io" H Lender tC\{llin.'-d llh.Jrt.gage iO\t.lfanc-e as d
<br />~ of. ~na * toa,n ~UfeU by lht:S: Mortgage, &-n-O,"'t"J .haH pa~' t-he pretDfums rcqum.m to rnaiutam ~ua;h
<br />...~ in-~ until _~ tit.I:Kt- a" ~M- requirement far ,,-t-,h;;.O m~unlm."'e telmiJ1,1tt~ In acmrdilH~e Wilh BOffilwe.r's an-d
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