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<br />84~06202
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<br />UNIFORM COVENANTS. Borrower and Lender covenant an<l agree as follows:
<br />I. Pii,m~m or Prinelpili iilid iliieresi. nllrrower shaii pr~mptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Fulure Advances secured by this Mortgage.
<br />2. Fund. for Taxes and Inslll1lnee, Subject to applicable law or to a written waiver by Lender. BOITower 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 SUI'll (herein "Funds") equal to one.twelfth of Ihe 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 (me-twe!f!h <>f 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 or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender it l.ender 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 ~nd compiling sa~d ass~ssmenls _and bills. unl;s~ l.ender pays Borrower interest on lhe Funds and applicable la~
<br />pe..rmHS Lenger to n'1~e 'i::!...lCn a l.rHHu~ t-i.<.rn.\itr>. >In.-I. , ""nAi'>., in.o:.... '..iuT.... Hi Wi'1:t1n~ :::.t the t:mf" of f"1!~c!!tfnn of thIS
<br />Mortgage that intere.~t 'on-the Fu~ds :];all-b;,'p~id i;;'Bo7r~;~'r"~~d ;';i;,~"~u~h';g;ee-;;'e~t i~"~ad~. ~~'.~ppli~abt~ law
<br />requires such interest to be paid, Lender sball not he required to pay Borrower any interest or eamingsqn the Funds, Lender
<br />sball give to Borrower, without cbarge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for whicb each debit to the Funds was made, The Funds are pledged as addilional security for the sums secured
<br />by this Mortgage,
<br />If the amount of the Funds beld by Lcnder. togetber wilh the future 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 tbey fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monrhly installments of Funds, If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, a...essments, insurance premiums and ground rents as they fall dl.le,
<br />Borrower sball pay to l.ender any amount necessary to make up the ,..."',ncy within 30 days from the ~ate notice 1s mailed
<br />by Lender to Borrower requesting payment Ibereof.
<br />Upon payment m full of all sums secured by this M,,"o c, Umke ,.,all promptly refund to Borrower any Funds
<br />held by Lender, If under paragraph Hi hereot .:'c hoperty '" .;,,;d or tbe Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to Ihe sale of the Property or its acquisition by Lender, any Funds held by
<br />t~nder at the Orne of application as a credit against the sums secured by this Mortgage.
<br />3, Applieution of Paym..nts. Unless applicable law provides otberwise, all payments received by Lender under the
<br />Note and paragrapbs 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 Ihe Note, and then to interest and
<br />principal on any Future Advances. .
<br />4, Charges; tiens. Borrower shall pay all laxes. assessments and other charges, fines and impositions attributable to
<br />the Property which may altain a priority over thlS Mortgage, and lea.sehold payments or ground rents. if any, in the manlier
<br />provided under paragraph 2 hereof or. If not paid III such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shaU promptly furmsh to Lender all nOlices of amounts due under this paragraph. andin~theevent
<br />Borrower ,hall make payment directly. Borrower shall promptly tumish to Lender receipts evidencing such payments,
<br />Borrower shall promplly discburge any hen which has priority over this Mortgage; provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shaH in good. faith contest slich Hen by, or defend _enforcement of $uch -lien- i~-
<br />legal proceedings which operale to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard Insurance, Borrower shall keep the .mprovemenls now existing or hereafter erected on the Property insured
<br />against los. by fire, hazards included within the term "exlended coverage", and such olher hazards as Lender may require
<br />and in such amounts and for .uchperiods us Lender may require; provided, that Lender shall not require that the amount of
<br />such covcrage e"ceed that amount o( coverage reqUIred to pay the sums secured by tbis Morlgage.
<br />The insurance carrier providing the insurance shall he chosen by Borrower subject to approval by Lender; provided,
<br />thaI such approval shall not be unreasonably witbheld, All premiums on insuranCe policies shall be paid . in the manner
<br />provided under paragraph 2 hereo( or, !f not pa.d in such manner, by Borrower making payment. when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a slandard mQrt~
<br />clause in favor of and in form acceplable to Lender. Lender shall bave the right to hold the policies and renewals .there(lf,
<br />and Borrower sball promptly furnish to Lender all renewal notices and all receipts of paid premiums, In lheevent of loss.
<br />Borrower shall gIve prompt notice w the insumnce ~"rner and Lender. Lender may make proof of loss if nOI made.promptly
<br />by Borrower.
<br />Ullle.. Lender and Borrower olherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Propeny damaged~ pro\ljdea such fe.tocation or repair is economicaiiy icasibie and ihe_ ;)~ij.fiiY (jf this- Afl.'Jr"igaj'f)s
<br />nul (belchy impaired. if such restoration or repair is not economically feasible or if the security of this Mortgllge would
<br />be impaired, the Insurance proceeds shall be applied to the sums secured by this Mortgage, with theexCCM, if any, paid
<br />to Borrower, If the Property is abandoned by 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 daim for insurance be~ft.s" Len4er_
<br />is authorized to collect and apply the insurance proceeds al Lender's option either 10 restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unlcr~ Lender and .Borrower other-.!.'ise agree ~n writing, any such app!icatiun of proceeds to pdrn:ipal shall- not -ext--nd
<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 18 hereof the P,operly is acquired by Lender, all right, title and interest of Borrower
<br />in "nd tV any insurance poiieies and in and to the proceeds thereof resulting tram damage 10 tbe Property prior to tbe sale
<br />or acquisition shall pass to Lender to the extent of tbe sums secured by Ihis Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. Pruervatiea aad MaiDWwK:e of Property; Leaseholds; Condominiums; Planned Unil Dne!opmeets.. Borrower
<br />shall keep the Property in good repair and sbail nol commit waste or permit impairment or deterioration of the Property
<br />and s.'lall comply '''It.'l the provisions of any lease .f Ihis Mortgage is on a leasehold. If this Mortgage 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 COV_IS crcarina Of governing the condominium or planned unit developmenl, the by-laws and reguh,tiolJS of the
<br />oondQrniniUffi or planned unil development, and constituent documents. If a c{>ndominium or planned unit development
<br />Tlder it Cl\IIICuted by Borrower, and recorded logether with this Moog.. the covenants and agreementi' of such. rider
<br />sball be inl;orporated into and sbail amend and supplement the covenants and lIgreements of this MOrl&age as if the ride.r
<br />were a part heNof.
<br />7. Precc.:iiu .uf Lc.adw'a~. If Borrower ,.Wi to perform lhe covenants and agreemenll contained in lhi!
<br />MortJ.. or ifll1>.Y .clioo or proceeding is commetlCed which materially affects Lender', interest in the Propeny,
<br />~1udln!~ bb:~ not -nm~ t(\~ em!~gt domam. 1050!\'CJl,CY. cvde ~nfarcement~ or arran.r;nen.t;. or prot.-'"eed-in;S invo!.vina ,a
<br />baAlrupt or de;.'CdelU, then l.ellder 11.1 tender', option, upon not.ce '0 Borrower. may make stl(:h appearances, disburse such
<br />....... aAAtal.., Iud! ~tl<>n u" _y to protect Linder', ;lllerest. IlIdudinll, but not limit,," 1\), disburoemenl of
<br />l11;_abk.t1"mey'~ f~ and enuy "1"-'" tll!; l'r<>peny '" mak" '~p"m, If L"nder re'l.nred mortgage insurance as a
<br />,ond>UlIIl oj mttkJnl lhe 10." """ure.<1 by ,hi. MlJttlJ!&f, Borruwer shall pay the premiums lequlfet! I." maintain sllch
<br />;Mur,~e ih -dk--c.t "_ft-tit !!uch lime. "".; t~ tt'..quit'emtMH fur s-uch insu.rance tt'rmhtAtcs in n-cc-Oldan('_e with Bo.rr(hr(('-r's and
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