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<br />83-005244
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<br />UNIFOH.M CO'VI.:l\;ANT~. Borrower anti Lender covcnal}.ta~ld agr~e as 'follbws:
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<br />. 1. PHyme~t of Principal and Interest. Borrower shall promptly pay when due the principal of ilnd interest 011 the
<br />tndehrcdnc!)s eVidenced by the Note. prepayment and latc charges as provided in the Note. and the principal of and inrcrest
<br />Oft- any Future Advances secured by this Mortgage.
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<br />2. _Funds for Taxes ,Qn~ Insurance. Subject to applicable law or to a written waiver by Lender, Bortowcr-.sh:al1 :pay
<br />"to Lender o~ the day ,-monl~ly installments of principal and inferest are payable under tlle- Notc,untiUhe Notc--is-,paid:in full.
<br />a su~:__(h~reJ_n "f'un_(IS~') c~uaJ t()one-twelf~h of the yearly taxes and assessments- wh.ich m~y attain priority elVer thIs
<br />Mortgage" and ground rents on thc_-.Property., if any, plus-one~1welfth of yearly 'premium :installInents _~or h~~rd _jnsuran_~,
<br />polus pry,e:~~tflh,or')'e~rfy-'prem_ium installments_ for mortgage insurance, if any. all as r~,~onably estimated' init~aIly, and frqm
<br />time to time-:br lender art the basis of asse&sments'and bills and reasonable esfimates thereof. -
<br />The'Funds shall ,re held in an institution the deposits or accounts of which are- insur~d or 'guaranteed bY"a Feder~d ,_or
<br />state-agency (including Leride,-'jf Lender is such an institution). Lender shall apply the Funds to pay said taxes. assessments~
<br />instirancc premiums and ground rents. Lender filay not charge lor so holding and applying tbe Fund$~ an-aly-zii:1~ said,acC:OI:p:at,
<br />or verifying tlnd campiling said asse_ssments and bills; unless ,Lender -pays Borrower inlcrest on toe Funds .and applicable);l\1f,
<br />permits- Lender to make ~uch a charge. Borrower and 'Lender may agree in writing at 'the- time of execu~ion --Of-lhis
<br />Mortgage_that interest on the Fpnds shall be p;.id to-Borrower. and' unless such agreement- is -made _or-'-.a~plicable law'
<br />requires such- interest to be, paid, Lender shall not be required to pay Borrower any interest or.earnings on'the;_oFunds;,: Lender,
<br />shall give to Borrower, without charge. an annual accounting 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 of the Funds beld by Lender, together with the fUllIre monthly installmenWof Funds payable' prior to
<br />the dlJe dales of laxes, assessments. insurance premiums and ground rents, -shall-exceed the amount-required' to pay,said'tax:es,
<br />assessmeni~. "ilJSurance premiums and ground rents as they fall due, stich excess shall be, _ at - Borr(jwer~s option~, -~i.~ber
<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__l'ents as theX_ fal~_: du~;
<br />Borrower shall 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' thereof.
<br />Upon payment in full of all sums secured by this Mortgage. Lender shaH promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph n; 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 ilS acquisition by Lender, any Funds held by
<br />Lender at [he time of application as a aedit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Nole and paragraphs I and 2 hereof 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 ~hall pay all la>...:,>. ass.CSSntl.:nb ;lnd oth~r ('harges. fines and impositions attributable to
<br />the- Property which may attain a priority over lhis !\.lortgage. and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 he.reof or. if not paid in such mannt.:r. by BorrO\\'cr making payment. when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all nOlices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, BorrO\\cr ~hall promptly furnhih lO Lender receipts evidencing such payments.
<br />Borrower shall' promptly 'discharge any lien which has priority \.1\-cr Ihis Mortgage; provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrow~r shall agn.:1.: in wrlling to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or :-:.hall in gl)od faith l:ontc'\l slIch lien hy. or defend enforcement of slIch lien in,
<br />legal proceedings which operate to prevent the enfofcemcn! ot Ihe Jit:1l Of forfeiture of the ProperlY or any ,part thereof.
<br />S. Hazard Insurance. Borrower shall keep the impro...cm~nb ll('l\\ C\isling l1( hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "c\tcuded c\)V~nH!e". anJ such other hazards as Lender may require
<br />and in such amounts and for such periods <lS lender Ill.l)' r~qujre; pro\ idet!. Ihat ll.'ndt.:r shall not require that Ihe amounl of
<br />such coverage _exceed thai amounl ()f coverage: r~quircd It) pay lhe s.lIm!'. !'.ccurcd hy this 1\.'longage.
<br />The insurance carrier providing the insurance shall be cho:;,cn by BorrO\\'cr subject ((l approval by Lender: provided.
<br />that such approval shaH not be unreasonably wilhheld. All premium.. on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or. If not paid in slh.:h mann~r. by Uorrm\er making payment, when due, directly to the
<br />insurance carrier.
<br />An jnsurance policies and renewals thereof shall bt: in form .ll..:'-':Cpl~lblc llJ Lender and shall include a ~tandard mOrlgage
<br />clause in favor of and in form acceptable 10 Lender. Lcndl,."f shall ha\c lhe right It) hold the policies and renewals thereof,
<br />and Borrower Sh~lll promptly furnish lO Lend~r ail renewal nOlices :,md J.1l receipts of paid premium... In the event of loss.
<br />Borrower shalf give prompt notic~ to the insurance carrier ami Lender. Lender may make proof of loss if not made promptly
<br />by. Borrower,
<br />Unless Lender and Borrower otherv..ise agree in writing. in~uralKc proceeds shall be applied _to restoration or repair of
<br />the Property d~maged~ provided Scuch resloration or repair is ~conomicaHy feasible and the security of 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 l;:.pplied to the sums .secured b} this Mortgage" with the excess, if any. paid
<br />(0 Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date;- notic~ _is mailed by -Lender to Borrower that lhe insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is aUlbor.ized -to cotlect and apply the insurance proceeds at lenJer"s option either to restoration Of repair of the Property
<br />or 10 the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwis.e agree in writing. any such application of proceeds to principal shall not extend
<br />or postponettle due-date of the monthly installmems referred to in paragraphs 1 .!Od 2 hereof or change the amount of
<br />such installments, If under paragtaph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />iJl.a~d-to any insurance policies and in and to the proceeds thereof resulting 1'rom damage to the Property prior to the sale
<br />or acq-.usmon shall pass to Lender to the extent of the sums secureci by this Mortgage immediately prior to such sale or
<br />a~uisition,
<br />6. _ ,lnIeJ:vatloa a~:,~~tt'~_ance of -Propert)'; Leaseholds; Condominiums; Planned -Unit De\'e1capmcnts. Borrower
<br />sballkeep the PropertyinSOOO repair and shall not commit waste or permit impairment or deterioration of the Property
<br />a.ndshalloomply wilh the provisions of any lease if this Mortgage is on a leasehold. If thi, Mortgage is on a unit in a
<br />condpmi,Qi~m Of-_ a_ planned:unit- deveiopme.flt, B~rrower shall perform at! of Borrower's obligations under the declaration
<br />o_r cp:v~,ts, creatins_or g.;lv-erni!lS the_ condominium_ or planned unit development. the by~taws and regul-ations of the
<br />c~rni~iu~l or p~ped ,unit dey-elopment~, and constituent documents. If a condominium or planned unit development
<br />ri~.D.teJ':~~.J'Y'iBom>w.,r.andn:""r<ledtogether with this Mortgage, the covenants and agreemenls of such rider
<br />~~il!lW~l!9lll!'l4i(llp,~dsballamendlU!dsupplemenl the covenants and agreements of this Mortgage as if Ihe rider
<br />-.a'~i~ri:<)~,
<br />7,.. ~"ofJ"~"~!"llf' If Borrower fails to perform Ule. covenants and agreements contained in Ihi.
<br />MC1I'1l~or Irl!,l1y'a<;thlnotpr~dii1g is comin~nced which materially affects Lender's interest in the Prope(ty,
<br />itldWlii1g, butnqt li!liftlldlo, eminent'dQmain, insolven\:}', code enforcement, or arrangements or proceedings involving a
<br />~fV,pt_:Ot:"d~ntf- t~nl..cnde.:r at-I:.ender'jj:',optiollf Upo.l notice to Borrower, may niakc_ ~uch a~pearauce.'i. disburse such
<br />~_JlCi4-,~-,~,__~~ion,tii$)."~-;to ptutc:et Lcndcrts- mtere$t;, indu~ing, but :nol Hnut:ed to; dl~bursement of
<br />~..au,q~lIY~'. ~.An!l",nt{y, upo!t Ih".!'roperty. l<1,mak.. repairs. II. Lender, required motlgagc insurallce as a
<br />c<llldili4)n.O[.fl'!lIkilllllbf:.Io!flll I<llCUled. twill!. Mf'rtgage.BOl'mwer shall pal' the premiums required to maintam such
<br />~f-an9_~ : in-._dG~i_ -until ',s.uc;tt time. as,' the- _~cquir~~t: for such _ insurance te-rmll1atei In accordance wlfh Born_')wer's and
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