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<br />UNIFORM COVENANT~. Borrower and Lender COVenant anq agree as follows:
<br />1. Payment of Principal aod IlIterl'St. Borrower shall promptly pay when due the principal of <Ind intc~cst 011 the
<br />indcbtednc~:i. evidenced by the Note, prepayment and late charges as provided in the Note. and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2~ Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Nmc is paid in fuJl.
<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 one.twelfth of 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 bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits Oi 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 Jaw
<br />requires such interest to be paid, Lender shall not be required to pay Borrower Jny interest or earnings on the Funds. Lender
<br />shall gjve to Borrower. without charge. an annllal 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 arc 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 instaIlments 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. such excess shall be, at Borrower'~ option. either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of FllC,ds. If the amount of the Funds
<br />held by Lender shaH 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 the deficiency with"in 30 days from the "CIate 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 promptJy refund to Borrower any Funds
<br />held by Lender. If under paragraph J H hereof the Property i5. ~old or the r" ~ceny is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior to [he ~a!c of the Prn~~ny L ...'1- acquisi:ion by Lender. any Funds held by
<br />Lender at the lime of application as a crean against the ~ums seCL by (fllS Mortgage.
<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 In payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable nn the Notc. [hen fo the principal of the Note, and then to interest and
<br />pnncipal on any Future Advances,
<br />4. Charges; Liens. Borrower ...hall pay all la~t''i. .lssessments ,!Od other charges. fines and impositions attributable to
<br />the Property which may altain a pnority Lwcr thiS ;-..lortgage. and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid m such manner. by Borrower making payment. when due, directly to the
<br />payee thereof. Borrower shall promptly furmsh to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrowc.T ....hall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priont)-' pvcr thi... Mortgage: provided. that Borrower shaH not be
<br />required to discharge any such lien so long as Borrow~r shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender. or ~hall in good faith contesl such lien by. or defend enforcement of sllch lien in,
<br />legal proceedings WhICh operate 10 prevent the enforcement ot the IIC'n or forfeHure of the Property or any part thereof,
<br />S. Hazard Insurance. Borrower shall keep the impro\lcment'i now existing or hereafter erected on the Propei"ty insured
<br />against loss by fire, hazards inciuded wit:hlO the Lerm "extendeJ cnverage". and sllch other hazards as Lender may require
<br />and in such amollnts and for such perk1ds as Lender may rcqum:: provided. that lender shaH not require that the amount of
<br />such coverage exceed thaI amount uf coverage required to pay the ~llrns "'ecllr~d by thlS Mortgage.
<br />The insurance carrier providing Ihe insurance shall be chosen by Borrov.(:f 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 sllch manner, by Borrower makmg payment, when due, directly to the
<br />insurance carrier.
<br />An insurance policies and renewals thereof ~hall be in form .u...ceptablc to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptahle to Lt.:nder. Lender shall have the right to hold Ihe policies and renewals thereof.
<br />and Borrower shali promptly furnish to ltnder all rcnev.-al not!ces and all rcceipIs of paid premiums" In the event of loss.
<br />Borrower shall give prompt notice to the tnsuram:e ...arrier and LendeL Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower othenv"lsc agree in wnting. imurancc 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 economically feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured b) this Mortgage. with the ex.cess, if any, paid
<br />to Borrower. If the Property is abandoned hy 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 insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either w re.slOration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower othen\'ise agree in wnting. any such application of proceeds to pnf1cipal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph i8 hereof the Property is aC4uired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resultmg from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of tbe sums secured by this M0ftgage immediately prior 10 such saie or
<br />acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit DeveJopments. Borrower
<br />shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease If this Mortgage is on a leasehold. If Ihis Morrgage is on a unit in a
<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 Ulllt development. the byvlaws and regulations of the
<br />condominium or planned unit development, and constituent documents. If a ....ondominium or planned llnit dcvdopn~ent
<br />rider is executed by Borrower, and recorded together with Ihis Mortgage, the covenants and, agreements of _ such nder
<br />shall be, incorporated into and shaH amend and supplement the covenants and agreements of Ihls Mortgage as If the rider
<br />were a part hereof,
<br />7. Pr~tection of Lender's Security. ]f Borrower fails to perform the covenants and agreements contained in thi!"
<br />Mortgage, or if any action uf proceeding is (..onuncnced which _ materially alIcl:ls Lender's interest in the Pro!:'erty,
<br />including~ but not limited to, eminent domain, insolvency, code enforcement. Of arrangements or proceedings" mvolvlOg a
<br />bankrupt 0:- decedent, then Lender at Lender's option, upon notJCl~ 10 Borrower. may make such appearan~e::.. disburse .su~h
<br />sums and take such aCljon as is necessary to prolcct Lender's Interest, mcluding, bUl not limited tv. disbursement ()f
<br />reas.onable attorney's fees and entry upon the ProperlY to make rcpilir~>" H Lender re~illircd murtgage insuran~(' a!o ,,_
<br />condition of making the loan secured by this Mortgiigc, Borrower .shall pay the rrcmium~ required to mainlain o;;uch
<br />insurance in effecl untit such time as the requirem_em for such insurance lefmmilte~ ll) a(((}rdan..:~ \""llh Bonn\o\-er\ and
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