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<br />79-- ~U4255
<br />UNIFORM Covaxexzs. Borrower anil Lender covenant and agree as follows:
<br />1. Payment of Pt?mclssl aad Interest. Borrower shall promptl}' pay when clue the principal of and interest on the
<br />indebtedness evidenced by the Nau, prepayment and late charges as provided in the Note, and the principal o` and inures[
<br />on any Future Advances secured by ehis Mortgage.
<br />2. ktirnda for Taus attd Iasutaece. Subject to applicable law or to a written waiver by Lender, Borrower shad 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 sutrt (herein "Fonda") equal [o 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 vne-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 Leader on the basis of assessments and bills and reasonable estimates thereof.
<br />The Foods shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state a~ncy {including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />ittsutance premiums and ground rents. Lender may not charge for so holding and applying She Funds, analyzing said account,
<br />of verifying and Compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Leader to make such a charge. Borrower and Lender may agree in writing at the time of execufion of [his
<br />Mortgage that interest on rite Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />[equitts such interest io 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 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 U[e amount of the Foods held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, imurance premiums and ground rents, shalt 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's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amotmt 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 />Boaower 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 eequesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />aPu by i ~__ if ~~a~~ par~aph lg hereof t_be Propeny is sold ar the Propeny ig otherwise acovired by Lender, Lender
<br />shall apply, no later than immediately prior !o the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the tithe of application as a credit against the sums secured by this Mortgage.
<br />3. Applicsiba of Prtymeats. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Nou and paragraphs 1 and 2 hereof shall be applied by Lender first in paymem of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on We Note, then io the principal of the Note, and then to interest and
<br />principal oa any Future Advances.
<br />4. f%~es; Bens. Botrowu shall pa}• all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority ovu this Mortgage, and leasehold payments or ground rents, if any, is the manner
<br />provided under paragraph 2 hereof or, if pat paid ir. such manner, by Borrower making payment, when due, directly [o ibe
<br />payG thermf. Borrowu shall promptly furnish to Lender all aMices of amounts due under this paragraph, anti in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shag promptly discharge any lien ~Nhich haz priority over this Mortgage; provided, that Borrower shall not be
<br />rtgtssred m discharge any such lien so long as Borrower shalt agree in writing to the payment o€ the obligatior. secured by
<br />such lien in a mamter acceptable to Lender, or shah in good faith contest such lien 6y, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Heard Iattataate. Boaowet shall keep the improvements new existing or hereafter zrected on the Properly insured
<br />against loss by fire, hazards included within the term "extended Coverage", and such other hazards az Lender may require
<br />ate is stch amounts and for such periods az Leader may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mengage.
<br />The insurance cattier provMing the insurance shall be chosen by Borrower subject to approval 6y Lender, provided,
<br />that such approval shall flat be unreasonably withheld. All gremiurns on insurance policies shall be paid in the meaner
<br />provi~d under paragraph 2 hetmf or, if ~t paid in sect, manner, by Bormwer making payment, whey. due, directly to the
<br />instra~e carries.
<br />All irtsttrance pt>)icits and rtmewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Leader, Lender shall have the right to hold the policies and renewals thereof,
<br />atti Earrow;s shall prtstp[}y furnish !a Lenber a1 renewal r~ticei and a31 receipts of paid premiums. la the event of lass,
<br />Borrower iltail give prompt ttatice to the iazurance carrier and Lender. Lender may make proof of Lass if not made promptly
<br />by Borrowu.
<br />Unless Linder and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration er repair is economicalh feasible and the security of this Mortgage is
<br />not [hereby impaired. If such restoration or repair is not economically feasible ar if the seuurity of this Mortgage would
<br />bt impaired, the insurance proceeds shall be applirJ to the sums secured by this Mortgage, with the excess, if any, paid
<br />m Borrowu. If the Proputy is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />dart Itatict is rnaiied by Leodu to Borrower that the insurance carrier otTtrs to cattle a ctair.R far insurance benefits, Lender
<br />is atriirorizad to wlkCt and apply the irssurance proceeds at Lender's option either to restoration or repair of the P:operiy
<br />ar to the sums secured by this Mortgage.
<br />Utr~ Ltitder and Borrower othcmist agree [n writing. env such application of proceeds to principal shall not extend
<br />~ postpone the due dau of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />tarh it:stailrtxttts. If tttu~s paragraph 18 hereof the Property' is acquired by Leader, all right, title and interest of Harrower
<br />at and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or aegaisitioa shall pass to Lender to the axon[ of the sums secured lip this Mortgage immediately prior to such sale or
<br />~~•
<br />6 )PteKV~oa and 1Httla!>wace of Property; Ltaeho)ds; Condotaitriums; Pfaoned Unit Devdopmeats. Borrower
<br />shag keep the Property is good repay and shall rmt commit wasu or permit i.~npaitment or deterioration of the Property
<br />and shag ctffiply with the prwsioas of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br />caadomiaium or a plaaved trait developmetu, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covettsats orating or governing the ccmdominium or planned unit development, the by-laws and regulations of the
<br />zaniunt or planned :mil deveiapttunt, and constituent doetunents. !f a candominitzm or piannzd unit development
<br />ride is esnprted by Borrower and reCOr~d together with this Mortgage, the covenants and agrcements of such rider
<br />shag be incorpor~ into sad shaII amend and suppkmem the covenants and agreements of this Mortgage as if the rider
<br />wtrt a part hett:of.
<br />7. PtaOetBasl o£ I.et,de~a 9eearky, It Borrower fails to perform the covenants and agreements contained in this
<br />Martgs~ge, or if nay action ~ proceeding is etxnmeneed which materially affects Lender's interest in :he Property,
<br />=mClttd~mg, but ttIX fitted to, amine:[[ domain, insoh^ency, code enforcetrnnt, or arrangements or proceedings involving a
<br />baalcritpt cu daxdrat, thm Lsadu ai Leader's option, upon notice to Borrower, may make such appearances, disburse such
<br />sums sad take attch action as is teary to grotut L.endeis interest, including, but not limited to, disbursement of
<br />xeasouable attorney's fen ate catty upon the Frooerry to make repairs. if Lender required mortgage insurance as a
<br />of making the loan axuted by. this Mortgage, Borrower shall pay the premiums required to maintain such
<br />insurance is e$eet tit such time as the roquirement far such insurance terminates in accordance with Borrower's and
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