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<br />84 --004584
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<br />UNIFORM COV'E'Ni\f..ITS. Borrower and Lender covenan~ anq agree- as follows:
<br />I. Payment of Principal and Interest, Borrower shall promptly pay 'when due the principal of and.;nterest onth",
<br />indebtedne5s evidenced by the Note, prepayment and late charges as provided in the Note, and the' principal of andjnterest.
<br />on any Future Advances secured by this Mortgage. -
<br />2. Funds for Taxes and Insurance. Subject to applicable law or toa. written Waiver by.Lende~,.,!,,,,,.sfjJill'p.y
<br />10 Lender On Iheday monthly installments of principal and interest are payable underthe NOle, u~tiJt~e is'paj.HO'ftil\;
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes' and. assessmenls which.tt\ay'atlai , . <rit}'"Qvei....lh~
<br />Mortgage, and ground ;enls On the Property, if any, plusooOo'twelfth of yearly premiuminstaUmentsforhazard.iC1sura,!~{,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all asre.sQl1ablyestimaledinitiallyatidiffrOlDJ'
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates there_of~-, _ '_ _;,-";".,'--: /,':;_'~-'_..:':~-
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or gua.anleedby, aiFedCJ1ll"'~f
<br />state agency (including Lender if Lender is such an institulion), Lender shall apply the Funds 10 pay saidtaxes,assciSsme1its;'
<br />insurance premiums and ground rents. Lender may not charge for so holding and -applYlng the Funds-"analyzin:g"said-'accoU:i)F
<br />or verifying and ~ompiling' said assessments and bills. unless Lender pays Borrower interest on 'tM -Funds-~d'-al'pl~cabfe,1.~w_
<br />pernills Lender to make such a charge. Borrower-and Lender may agree'in writing-at the- timc":of-execution:':--_or:tbis
<br />Mortgage that interest on t.he Funds shaH be paid to Borrower. and unless such- agreement 'is -made -o~'.appHCabl~--ja~;;'
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interes~.or earnings,on the~'F~nds.,:- Le~~er'>
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits-,-to.the-Funds and the
<br />purpose [or which each debit to the Funds was made. The Funds are pledged as additional security- ~or- the- sums secured
<br />hy this Mortgage.
<br />If the amount of the Funds held by Lender, together with the ruture 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 fall due, slIch excess shall be, at Borrower's optio-n, e.ither
<br />promptly repaid to Borrower or credited to Borrower on mOOlhly 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 '3s"they fall'-due,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 da)'s 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 snail promptly refund to Borrower any-Funds
<br />held by Lender. If under paragraph 18 hereof the Property IS sold 0:- th~ Pruper~.' is otherwise acquired by Lender, Lender
<br />shall apply. no laler than immediately prior to the ~ale of the Property nr :!s ~. ."uisition by Lender, any Funds held by
<br />Lender at the time of application il.S a acdit agamst the smllS secured t ;.:is.;": ....rtgage.
<br />3. Application of Payments. Unless applicahlc law provltJes. otnef'..a.'lse. JII payments received by lender under the
<br />Note and paragraphs I and 2 hereof shall be applied hy Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. then 10 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 <,h~lil pay ,iii i"lX,t::-.. ;Jssessmt:nb ;l1ld \Hhcr i.:harges, fines and impositions attributable to
<br />the Propeny which may ~f(ain a Pflority over thiS .\'tortgage. ~Jnd I~as('hold payments or ground rents, if any. in the manner
<br />provided under paragraph:::' hereof or, if not paId m such manner. by Borrower making payment, when due. directly to thf":
<br />payee thereof. Borrower shaU promptly furnish to Lender all notices Ll[ amounts due under this paragraph, and in the event
<br />Borrov.'er shall make payment directly, BO[W\.\.l;f __h;:ill promptly furnish to Lcnda receipts evidencing such payments.
<br />Borrower shall promptly discharge any hen which has pnorlty \)\.1:[ thi~ Mortgage: prOVided. that Borrower shall not be
<br />required to discharge any ~uch lien '50 long .IS Bvrwwt:f shall agree in wriling to [he payment of the obligation secured by
<br />such lien in a manner acceptable rn Lender. \)j' '>.h~lli in gllt.d f;,lIth \.:\.lnlC..,{ su..:h lien by, or defend enforcement of such lien in.
<br />legal proceedings which operale to prevent the enfl.n:ement ;,)1 the lIen fir forfeiture o[ the ProperlY or any part thereof.
<br />5. Hazard Insurance. Borrower shall k~ep the Improvt::me-nh now exj~!lI1g llf heft::aftcr erected on the Property insured
<br />against loss by fire, hazards induJcd \\"lthin the term ."(.'\[cnded l:LWcragc" and sLlch olher hazards as Lender may require
<br />and in such amounts ~UH.l 1l.11' su..:h periods as I.ender may reyulfl..'; pwvideJ. that Lender shall not require that the amount of
<br />such coverage c.\ceed that amount of Lllverag.c r(:qulfl;~J w pay [he sum~ scci.lr....'d hy thIS MOflgage.
<br />The Insurance ..:arrier providing the insuran..:c shall be L'hosen by Borrower subject to approval by Lender; provided.
<br />that such approval shall not be unrea1oionabJy withheld. .-\11 prcmiums on ins-lir::Hlce policlt:s shaH be paid in [he manner
<br />pravided undet paragraph :: h~rc\)f or. :i not paid In SUl.:h manner, b> Borrower maklllg payment, when due, directly to the
<br />insurance carner.
<br />AU insurance polICies and renewals then:~l)t ~hajj h~ 111 form <-l..:...:cpl<tbk to I cndcr and shailll\dudc a ~tandard mongage
<br />clause in favor of and ill h..)fm a~ct:ptabk h) Lendef. 1.t."IlI.tel" .,hall havt: the rigbt !o hold the policies ~lnJ renewals thereL)f.
<br />and Borrower shalf promptl) furnish to Lender all r~lIe\\-al nDtKe~ and all rCl.:clplS oi p<.tid premium,;. In the t,.'vent o[ loss,
<br />Borrower shall give prompt notice to the IIlSUf J.fh.:e carHeI' dfll.l lender. Lender may ma\...c proot of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borruwer othern'lsc agr~e in \\'fltmg. llbUl'ail..:l..' pro..:ccJ~ shall be applied to rl:storation l)f repair of
<br />the ProperlY damaged. provided ~ul,.~h rClitoratJon N ft:palr is e\,:(lllomic.~Uy feasible and tht' security of this Mortgage IS
<br />not thereby impaired.. If sudt f~stor dtll.H\ or repair is IllH ('c\llhmliL'.tlly kasihlc nr If the ~ccurlty of thiS ~"ortgagc would
<br />be. impair(d. the msurance pru~ccds shall be applieJ tv the \umS secureJ b} thIS Mortgage, with the c\cess. if any, paid
<br />to Borrower. If the Property is ab;wd.....ncd OJ Borruwer, t.r It Borrower t;Jil5. flJ rc:,.ponJ to Lender Within 30 days from the
<br />date notice is mailed bv Lender 10 Borrower that Ihe in~urancl~ \..i.iI'flCr oller~ 10 sell Ie ,t dairn for Insuran.;::e henefits, Lender
<br />is authorized to col1ect~ and apply the inSllralll.:l.' pro..:eeds .It LenJer"::.. (lptU.Hl cHher liJ rcstoration or repair of the Propert}
<br />or to the sums s.e~ured by this MortKage.
<br />Unless Lender and BOCroWCI otherwise agree In \HI(108. any su..:h application of pro>:ceds to pnlll.:lpal :-.hall not extend
<br />or postpone the due date of the monthly in~tallments r~fei rcd. h) III paragraphs 1 .lIlJ 2 hcl't::l.)f or \.:hangc the amount of
<br />such installments. Ii under paragraph 18 hereof the Property i\ a(;4UlrCU b} Lender, all right, title and intercsl 01 Borrower
<br />in and to any insurance policies and in and [0 the proceeds thctcoi resulting trom damage to the Propt:.rty pnor to the .sale
<br />or acquisition shaH pass to Lender tv the extent of the ~ums secured hy this Mortgage imm..:diately prwr to ~uch sale ()f
<br />acquisition.
<br />&. Presenation and Maiaten8J1Ce of Propert}; l.easeholds; Condominiums; Planned 1Jnit Uc.'eloplIlents. Borrowa
<br />shall keep the Property in good repair and shaH not commit waste Qr permit impairmem or deteriorai:ion of tht; Property
<br />and shall comply with the provisions of any lease !f thl:.. Mortgage I., on a kasr..:hold, If fhis Mortgage j" on a unit in i.l
<br />condomimum or a planned unit devciopmcnI, Born.rwer s.hall perform all ot Borrower's llbhgatlOns under the dedaruhun
<br />or covenants creating or governing the condominium ('r planned unit dcveh.1pmenL Ihe hy-Iaws and regulations ol the
<br />condominium or planned unit development. ;:md l.'on.stialcnt Jo..:umcnts. It it ':-lwJominium or phmncd unit devch>pment
<br />ri~r ~ executed. by Borrowc:::.and recorded togcihcr ."nth iniS Mortgage, ihe ;.'\HCUaIH$ ,inu ilgrccml.~nt.!> ~.lf MIen nd~r
<br />shall be incorpora.ted into and sbaH amend and supplement tbe co\'enants and agreements l)f tlu:. !\loflgag.::, as if the rider
<br />were a par; hereof,
<br />7~ Protection of LeoJtder"s Security. If Borrower fail)). 10 pt::rfo[m the "::ovenant~ and. l1gtl;.'cmcnt~ ('\.)fltalHcd in thl~
<br />Mortgage. or jf any action or proceeding i'i ccmmenccd which materially atfcds. l.ender's intelc.s! in the Property,
<br />including. but not Hmited to, emine.nt domain, ji'll\olv~n~y, code enfon.:ement. or arrangenlCtlts l~r ~'>rl.x:ecding:5 involving. a
<br />bank.rupt Df de-cedent, then l.tnder at Lender\ npli()o. upon H\lti\'::c 1'.1 Bo;.,ower, ma~ lHakt: Si.h:h app,:.J.r~HCI.:!--. ...bsh\H~C ~ul.:h
<br />"urn~ and take $I.~h a-c,tion a~ IS. aecefi'HUY lv Ph)lC:\:t l.cndc.r\ Interest, lnduJing. hut IhH lil1l1tcd hl, di~burscmcnt 01
<br />re~sonlJhlt ano.rney';s it;C'~ and erury up..:m Ilw PrQpcrtr tu makt rep.J.lf" tt L\.:od{'( rC\llli!t:..l nh'll,ga~l,'. in'>.Wi.HKl' (1-" ;,
<br />'ond_1ti_c-A of mnk.inlJ. tbe lQl,lu 'lje.,:urcd oy this MurtSdge, B~)trowt>r shaH r.t)' the IHef:OIum.~ i..:qulrcd hI m~ifiLun "lldl
<br />i;UUrafl(';f,' in ~ff~l until "ou(.'h t!n11.' ,l~ :h..~ rCl..luif~,mcnl for such in'5tir:m\.-...~ !enTIiH,th:, irl .,":I;,HdafKt.' wifh H,wf\lw('r\ ;mll
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