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<br />UNIFORM CovE::xxrs. Borrower and Lender covenant and agree as follows:
<br />Payvienf of Princlpai and InteetsY. Borrower shall promptly pay when due the prircppa} of and interest on the
<br />indebredness evidenced by the Note, prepayment and late charges as provided in the Note. and the principal of and interest
<br />or, anc Future Advances secured by this hiongage.
<br />2. Funds for 'Cases and Tnsnrance. Sub;tet to applicable law ar to a written waiver by Lender. Borowtr shad pay
<br />to Lender on the day monthly installments of principal and imerest are payable under the Note, until the Nate is paid in full,
<br />a -stun Cnerein "Funds") equal to one-twelfth of the yearly taxes and assessments which mzy zttain priority over this
<br />Mortgage, and ground rents on the Property'. if any, plus one-twelfth of yeazly premium installments for hazard insurance.
<br />plus one-twelfth of yezriy premium instalments for mortgage insurance, if any, all as reasonably estima[ed initially and from
<br />time to rme bro• Lender on the basis of assessments sad 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 if Lender is such an institution). Lender shalt apply the Funds to pay said tarts. assessmenu,
<br />insurance premiums and ground rents. Ixnder may not charge for so bolding and applying the Funds, anal}2ing said account.
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applieabtt law
<br />permits Lender to make such a charge. Bo: rower and Lender may afire= in writing at the time of execution of this
<br />Mongage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such irttresr to be paid, Lender shall rot be required to pay Borrower any interest or comings on the Femds. Lender
<br />shall five to Borrower, without charge, erg annual accounting of the Funds showing credits and debits to the Funds and_it;t
<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 Fends held by Lender. together •.vith the future monthly installments of Funds payable prior to
<br />the due dates of taxis, assessments, insurance premiums and ground rtn[s, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as the} 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 amount of the Funds
<br />held by Lender shah sot be s~incieat ro pas taxes, assessments, insurance o ~miums and graurd rents as they fal{ dt~.
<br />Borrower shall pay to Lender any amount ntrxssan~ to make up the deficiency within 30 days from the date notice is matted
<br />by Lender to Borrower requesting pacmen*, thereof.
<br />upon payment m full of all sums secured by this Mongage. Lender shah pramptl7 refund to Borrower any Funds
<br />held by Lender. If under pazagraph 18 hereof the Propem- is sold or the Progeny is athcrsvise acquired by Lender, Lender
<br />shall apply, no later than truttediatnh~ prier to the sale of the Properly or its acquisition by Lender, am' Funds held by
<br />Lcndtr at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Agplieation of PaymenLS. t:nless appLcable law provides otherwise, al payments received b}° Lender under the
<br />Note and paragraphs I and 2 hereof shalt ix applied by Lender first in payment of amounts pava6lt to Lender by Borrower
<br />under para¢raph ^_ hertot, turn to interest payable on the Nore. then to the principal of the No[e, and then to interest and
<br />principal on any Future Advances.
<br />4. Charles: Letts. Boaawe* shall pay all tarts, assessments and other charges, fines and impositions attributable to
<br />the Prapen}• which may attain a pnarity aver this Mortgage. and leasehold paymrnu or ground rents, it any, in [he manner
<br />provided under paragraph 2 hereof or. if not paid m such manner. by Borrower makine payment. when due. directly to the
<br />payee thereof. Borrower shall promp[4}- turmsh to Lender alt nouces of amounu due under this paragraph. and in the event
<br />Borrower shall make payment dtrect}y. Borrawet shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shalt promptly discharge ;tiy hen which has pnonry over this Mortgage; provided. chat Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in wriupg to the payment of the obhgatian secured b}'
<br />su.:h ii- s is -° - --°- ~ .L ~~.,~t., r shvl; :^ f'~-d frith c~n~.st suc!+ leas by. or deft•ttd enfarcememt of such lien in,
<br />lega3 pmucdings which operate eo prerrnt the enforxment of the }icn pr forfuture at the Progeny or atn~ pan thereof.
<br />5. 41ai•ard I[tsurante. Borrawet shall keep the improvements nau existing or bereatter erected an tite Progeny insured
<br />ago-n.. !e_=_ b} nrl. ha~•9s tnclndx t itt[tr the term 'extendto covtragt- and suc'rr o['tter h+u.~s a~ ;...: n3t:r r: sy t°y::i:e
<br />and in seen a~nntinu aid leer sued pee t 1a >:> Lenuer mac rtgat,-c- prase , t Ltrder shot; mot re=~u=.re the: ibc amount of
<br />such caverns tx: ecd that ameur.t e' eovetase required to pa} the sums eccurtd b_y this niongagt.
<br />~e :.. _ _ .~„tc.,o .t,a ,_ ~t,~n t,.. -!,.,vas t,. Anr~~wcr suh,ect to aaeroval by Lender; provided.
<br />_ ~...e.,,._ ,.9..:ar pro-....... ,_ ,.r,. ~~-° ..._. __ -.._w.. -- --- --- -- - -
<br />that such approval shallynot be imrcasonably~withneid. Ali premiums on insurance pahcies`saail bt paid to tin, manner
<br />provid^~ uadtr paragraph ? hereof ar, if not pa,d to suet tttanaer, by Harrower maktne payment, warn due. direct;v to the
<br />insurance cattier.
<br />Ali insurance policies and tenewais thereof shat) 't+t to fo.*m acctptabic to Lender and shall utciude a samdard mor[gagt
<br />clause in Iavor of and in form acceptable to Lender. Lender shalt have the right in hard the pahcies and renewals theroot.
<br />and Aormwtr shall promptly furnish to Lender a14 renewal nouces and alt receipts of paid prcmmms. In the event of lass.
<br />Borrower shell rive prompt notice ro the insurance carries and Lender. Lender ma} make proof et lass tf not made promptly
<br />by Harrower.
<br />Unless Lender and Bonawer otherwise agree m wrung, insurance proceeds shat be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repau is economically feavble and the securnv of this Mortgage is
<br />net thereby impaired. It such restcraton ar repay is not cconomicall} teasibie or tt the stcunty of this Mortgage svauld
<br />be impaired. [ht insurance proceeds shall be applied to the sums secured by [his hiongage. ui[h the excess. if an}', good
<br />to Borrower. if tbe Proptn} i ausndantd by Borrower, or it Harrower fails [o respond to Lender wathm 30 days trom the
<br />date notice is mailed by Lender to Borrower that the insuranct carnet offers to settle a claim for insurance benents, Lender
<br />' is authorized to collect and apply the msnrance proceeds at Lender's option other to rtstarauan or repair of the Proper}'
<br />ar t4 :~` sums allured by this hiattgage.
<br />Ualcss Lender and Borrower nthtravist agree to w'nung, any such application of proceeds to pnnctpa! shall not extend
<br />pr po€tpant the due data of the monthly iastattments reterrtd tc in paragraphs 1 and ?hereof ar ehartge the amoum of
<br />such instntlmen[s. Ii ostler paragraph Ig hereof the Property is acquired by Leader, ail right, title and interest et Harrower
<br />im sad to any insuratset policies amd in and to tuc practcds [utreof resulting from damage to the Yropeny prior to the sale
<br />er ~~_ :*ap sea!! p~ to t pi,der to the eattnt of the sums secured 6} this hiongage immedia[el}~ prier to such salt or
<br />acgt~ition, -.
<br />G. I"ec~en•~t'[an and hiaitttenaat:t of Prop=ny: i.tasthaids; CanJonuoitrms: Piaa:red Uri 13es~tiupm€ats. Barrcwer
<br />steal I[tep the Properly in good repair and shalt oat rntxtmit waste or ptimu impaumtnt ar dtteriarttuan et the Prapen}
<br />and shat comp8y with tut provisions of ap}• least i[ this Mortgage n ap a leasehold. if this Mortgage is en a unu in a
<br />eondomintum or a planned trait development. liorrawtr shat ptetorm all of Borrower's abhganans under the dttlarauott
<br />ar covenapts crtaring or governing the condominium ar planned uni[ development, the by-laws and regulations of the
<br />condominium ar pianneti unit 8evetppmtnt, and canstttuent doeumtms. it a condamimiurn or plamntd unit dcvclapmtnt
<br />rider is cxesuted by Borowet sad recorded togetb¢r wuh this Mongage, the covenants and agrctmenta of .trek odor
<br />cha11 tie iacorparattd ipto amd shalt amend and supplement rue covenants and agretaten[s of this I+iang:tge as if the rider
<br />wt~rt a gar het'taf.
<br />?. PratatRioa aE Latxler's Security. It Bprrowtr fails to perform the covenants and agreements caniamed in this
<br />Martga$t, or if any action ar proceeding is cat[tmcaced which matesiall} affects Lenders interest in the ProFxrt},
<br />wcluding, but not iitnittd to. ttnintnt domain, insolvency, cads enferctment, ar arrangements ar prtweedipgs involving a
<br />h„nkrupt pr deceadrnt, loon Lcpcler at Lender's aptton, upon native m Borrower. may ntakt ouch appearatxts. disbutsr such
<br />~..t: =rid xatte aaeh a4;tipp as is ntrcessar} to protect Lender's tnurtst, including, E:ut not limi[td to, dtsbuntment of
<br />reasonable a[tame}''s fete and entry upon the Yraptny to make repairs. it Lender required ma:tgage insurance us
<br />condicipn of maitm;; the Soap ~eurcd by this Marzaagt, tSanower soot; pry the prtmtupts teGuietd • ~ mainta::-: suc^
<br />inauraact in aft~t imti~ sacu tiz[e as the requirement fn: Hush :asurance cermtnaui to acGOttian.`r urrh~Bortvwei', rod
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