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<br />83-005265
<br />UNIFORM COVEN1\NTS. Borrower und Lender cOYenant and ngree as follows:
<br />1. Payment of Principal and Interest. Borrowt:r shall promptly pay when due the princip.tl of and interest ull the
<br />indebtedne55 e~ide:Dced b! the_ N~fe~_~repayment and late charges as provided in the Note, and the principal of and interest
<br />'on any Fulure Advances secured by this Mortgagc.
<br />2.- Fuftds, for Taxes-and- Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shan pay
<br />(0 Lender on-the, -day monthly installments of principal and jntcreSl arc payable under the Note. until the Note is paid in full.
<br />a- SUltl- (herein "FuRtis"') equal (0 - one~twelfth of the yearly taxes and assessments which may attain priority' 'over this
<br />Mortgage.' and :groond rents On the -Property. if any, plus onc-twelfth of yearly premium installments- for hazard- insurance.
<br />plus'(tn~twel!th of-yeady premium installments for mortgage insurance, if any. al1 as reasonably estimated initially and frdm
<br />time to time- b}~ Lender on-the basis of asses-smcnts and bills and reasonable estimates thereof.
<br />The-Punds -shari be held in- an institution the deposits or accounts of which arc insured or guaranteed by a Fedetalor
<br />state agency (including- Lender if lender is slIch an institution), Lender shall apply the Funds to pay said taxes, assessments,
<br />ir1surafice premiums and ground rents. Lender may not charge ror so holding Hod applying the Funds, analyzing said account.
<br />or' verifying aNd compHing--said assessments and bills, unless lender pays Borrower interest ort- the Funds and-'applic'able' law
<br />permits- Lender to _make, such a charge. Burrower 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 Jaw-
<br />requires' such-in'terest 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 annllal accounting of the Funds shilwing 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 held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, a..o;sessments, 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, sllch excess shall be, at Borrower's option, either
<br />prom'ptl~' '-repaid - to Borrower or credited to' B(1rrOWer on monthly installments of Funds. If the 3mount 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 tb Lender any amount necesMry to make up the deficiency within 30 days trom the date notice is mailed
<br />by, Lender to Borrower requesting- payment thereof.
<br />Upon payment in fuB of all sums secured by this Morrgagc. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 1 S hereoi the Property is suld or the Property is otherwise acquired by Lender, Lender
<br />sball apply, no later than immediately prior to the sale of the Property or its acquisition b'y Lender, any Funds held by
<br />lender at the time of application as a credit against the sums secured by this !\'fortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first io payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. then to interest payable I.m the Note, then 10 the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower ~hall pay .ill laxe,>. aSSeSSf11t.:nts ,lnd other charges. fines and impositions attributable to
<br />the Property which may attain a pnority over this -Mortgage, and leas~hold payments or ground rents, if any, in the manner
<br />provided_ under paragraph 2 hereof or. if not paid 10 such manner. by BorrO\\-'er making payment. when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lemler all notices of amouots due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borwwcr shalJ promptly (uf1li~h to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien whkh has prionty over this Mortgage: provided. that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in \"-Titing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shull in go(.,d iaith contest sllch lien by, or defend enforcement of slIch lien in,
<br />legal procee_dings which operate to prevent the enfof(:cment of the lien or forfeiture of the Property or allY part thereof.
<br />S. Hazard Insurance. Borrower shall keep the improvement'. 00\\ existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended cl,)venlgc". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender Ol.IY require; pnwidetl, that LClldl':r ~hall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sum:\ seclln:d by this Mortgage,
<br />The insurance carrier providing the insunmce shall 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 nOt paid in such manner. l1y Borrower making payment, when due, directly to the
<br />insurance carrier,
<br />AU iDsurance policies and renewills thereof shall be in form <Ii.:-cepwblc to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable hJ Lender. Lender "hail have the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal nOlices ~li1d ~lll receipts of paid premiums. In the event of loss,
<br />Borrower shall gh'e prompt notice lO the insunw..::e carrier and Lender. Lender may make prool of loss if not made promptly
<br />by Borrower.
<br />Unless lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired, If such restoration or repair is not cconomic~i11y feasible or if the security of this Mortgage would
<br />be impaired, tbe insurance proceeds shall be applied to the sums sccured b, this Mortgage. with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower. or it Borrower fails- to respond to Lender within 30 days from th~
<br />da~e noti4;e is mailed by Lender to Borrower that the insurance carrier otTers 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 Mortgage.
<br />Unless Lender and BQfTower- otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />0.(' postpone the du_e date o;f 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 by Lender. all right, title and interest of Borrower
<br />in and to any ifi:Surance policies and in and to the proceeds thereof resulting fiOm damage to the Property prior to the sale
<br />or. acquisitiun_shaH pass to Lender to tbe extent of the sums secured by this Mortgage immediately prior (0 such sale or
<br />acquisition.
<br />6. ~na~~-,._Ma.i,J,J.~Jl8Oce of P_ropert~';_Leaseholds; _Condominiums; Planned Unit De\"elop,ments. Borrower
<br />shall k~ep the Properlym good. repair and sball not commit waste or permit impairment or deterioratioll of the Property
<br />~-_shaUcompJy wj$the p_Iovisions of-any lease jf this Mortgage is on a jeasehold. If this Mortga&e is on a unit in a
<br />coo~~~ni~m-_Qr a pl,anned unit. development, Borrower shan perform aU of Borrower's obligations under the declaration
<br />Qr ~(}v:~_ts: creating.-or govern_inK the con~ominium_ or planned unit development, the by-laws and regula_tions of the
<br />cQJ,l.;lomiltilJ,m,Qf plann,oo unjt deVelopro~n,l, and constituent documenls. If a condominium or planned unit develQpment
<br />" . llorr()\\,~andrecordedtogether with this Mortgage,the coyeI\antsand agreemen.ts. of such rider
<br />II\M> "I\4sJW1 ,a.me'id,and s\Il1plelllem thecoven~llts alld agreements of this .Mj)rtgagc as if the rider
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<br />~~-o S!l<:~rilY" Ifllorro\Ver fails to performtbe covenams and agreements conlained in this
<br />'''r~i.I\1l is cornmellced which materially affecls Lender's interest in the Property.
<br />to. eiJ).iu_ent domain. in501vency~ code- eofor~ement, or arrange-meRt!; or proce-edings .involviDg-_a
<br />b,ijlk:r,iiPt_~ar dc(;eae~~~ , Qder-a(_L_e~d~f'& option, upon notice to Borrower, may make _such appearance$~ disburse such
<br />ap~ ,~ ift-~~SttlY to nQtect" Lender) _ in{eu~st:, in~'ludi,qg. hut not limited -to, disbufSC_ment of
<br />~~_ ~ epu.)', lJ~n the_ Pl\)perty to', m?k~_ repairs, If t.ender_ re,quired lUiJrtgage iosurtlnce a~ a
<br />,n~,tIleIQall liecure;Jby tbit; M"rtgate, !lpryower shall pay lhe prcmiums required. to maintllin S"dl
<br />-cft~~ u~til $Udl time~ UClM requireOw;t_t - tor ~ucr'- iosora!,cc terminate-s in ;\C{.'ordau('c with Bormwer's and
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