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<br /> UNIFORM Covt-+r+'s. Borrower and. Lender covenant and agree as follW%s:
<br /> t. Payment of Printtpal and Interest. Borrmkcr shall promptly ptti' when due the principal of and interest on the
<br /> iti<lchtedncss 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 Sfortgage.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br /> ;o I-ender on be day monthly installments of principal and interest are payabb: under the. Note, until the Note is paid in full.
<br /> a sum (herein " Fuirds" ) equal to onc-twelfth of the yearly taxes and assessments which may attain priority over this
<br /> Mortgage, an-,I ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance.
<br /> plus onc-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 f=unds 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 iti such an institution). Lender shall apply the Funds to pay said taxes, assessments.
<br /> insurance p. cmiums and ground rents. Lender tray 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 iaw
<br /> permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br /> Mortgage the; inacre on the Funds shall be paid to Borrower. and unless such agreement is made or .zppiicahle law
<br /> requires such interest to be paid, Lcrtdcr shall rm:it be required to pay Borrciw•er any interest or carninfis on the Funds. Lender
<br /> shall give 10 1301`70-er, without charge, an annual accounting; of the Funds showing credits and debits to the runds and the
<br /> purpose for which each debit to t}c funds was made, The Ftt;tdi, arc pledged as additional wurity for the souls Secured
<br /> this; Mortgagc.
<br /> If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br /> !hc due dates of taxes, assessments, insurance premiums and ground rents. shall exceed the amount required to pay said taxes.
<br /> asiessrncnts, insurance pictttiums 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 Funds if the amount 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 /> Borrower shall pay to. Lender any amount neicssary to make up the do iciency within 30 day-s.from the date notice is mailed
<br /> by Lender to Borrower requesting paymcat thereof.
<br /> Upi n payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any f=unds
<br /> held by l.cndi r. If under paragraph 18 hereof the Property is sold or the Property is oinerwise acquired. by lender, Lender
<br /> shall apply, no later than immediately prior to the sale of the. Property or its acquisition by Lender, any Funds held by
<br /> Lender at the time of application as a credit against the sums secured by this MortgaFr-
<br /> 3. Application of Payments. Unless applicable law provides otherwise, all payments received by lender under the
<br /> Note and paragraphs 1 and 2 hereof shall be zpplicd by Leader first in payment Of amounts payable to Lender by Borrower
<br /> under paragraph 2 hereof. then to interest payatile on the tilote. then to the principal of the Note, and then to interest and
<br /> principal on any Future Advances.
<br /> 4. Charges; Liens. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
<br /> the Property which may attain .t priority over this'vfortg;age, and leasehold payments or ground rents, if any, in the manner
<br /> provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment, when due, directly to the
<br /> payee thereof. Borrower shalt promptly furnish to Lender all not",ces of amotints due under this paragraph, and in the event
<br /> Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not h':
<br /> icquired to discharge any such lien so long as Borrower shall agree in writing to the payment of the,oblig►arion secured by
<br /> Notch lien ir; a manner acceptable to Lender, or shali in good faith contc%t such lien by, or defend enforcement of such lien la,
<br /> legal proceedings which opcratc tc prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br /> S. tLarard Insurance. Borrower shall keep the improvements nova existing or hereafter crecte' on the Property insured
<br /> against loss by fire, hazards included within the term "extended coverage and such other hazards ac Lender may, require
<br /> and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the arnowit of
<br /> s ich covcragc exceed that amount of coverage required to pay the sums s::zured by this Mortgage.
<br /> The insurancc carrier providing the insurance shall be chosen by Borrower !'object to approval by Lender. provided,
<br /> that such approval shall not be unreasonably withheld. All premiums an imuranec policies shall be paid in the manner
<br /> provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. threctly to the
<br /> in"tiranct carrier.
<br /> .All insurancc policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage.
<br /> clause in favor of and in foam acceptable to Lender. Lender xhaif have the right to hold the policies and renewals thcteof.
<br /> and BorroAcr shall promptly furnish.,o Lender all renewal notices and all receipts of paid premiums. In the event of toss.
<br /> Borrower shall pvc prompt notice to the insurance carrier and lender. Lender may make proof of loss if not made promptly
<br /> by Borrower.
<br /> Unless i.ender and B<rrowcr otherwise agree in writing, insurance pr(x:ccds shall be applied to restoration or repair of
<br /> the Property tLirnag;ed, pros: ialed su:h restoration or repa%r is economically feasible and the security of this !slorigage is
<br /> not thereby inapa;rcd. It. such re5i0ratioat or repair is not economically feasible or if the security of this Mortgage wotild
<br /> be impaired, the insurance procecda shall be applied to the %um's secured by this Mortgage. with the excess, if any, paid
<br /> to Borrower. If the Property i, ahandoned by Harrower, or if Borrower fails to respond to Lender within 30 days from the
<br /> }ate notice, is mailed by Lender to Botnawer that the insurance carrier offers to settle a claim for insutance benefits, lender
<br /> i°, author;'red to c.ollev and amply the insurance proceeds at Lender's option cithct to restoration or repair of the Properly
<br /> ter to the surns t.ectittd by this Slortgal{e,
<br /> . Unle.r,s t.cnrac: and Borrower oth,:rwisc agree in writing, any such application of proceeds to principal shall riot extend
<br /> or polporic the duc dale of the monthly installments rvierred to in pilragtraphr I and 2 hereof or change the amount of
<br /> such in%Wlirtents. If under paragraph 18 hereof the Propeerty is acquired by lender, till right, title and interest of Borrower
<br /> in And tc7 any inMutanee policies and in and in the proceeds thereof resulting from damage It, the Property prior to the sale,
<br /> or zcquisition shall pass to lender to the extent of the sumo secured by this Mortgage immediately prior tt• siich sate of
<br /> ractgirisit lean.
<br /> 6. 1'rewrsation and Ntatntrnanre of 'Propartyt Leateholds; Condonnlalurnl►t Planned L.lnlt Mseltiprnents. Ilorro%cr
<br /> shall Accp the Property in good repair and whall not commit waste or permit Impairment or aktetioratiorr, of the Ptc)gsrrty
<br /> and thall tfrrnply will the provisiunu of any lease if this Siorigarge iii an a lcsisehold, If this SlortgAse it (in a unit in a
<br /> condominium or as planned unit developm,:nt, Bcrcowet shall perfori,n all of botit~waves obtistitienr under the declAratoon
<br /> or. tvvcn>Ants citminy or gloverning the condominium or 'plan."d tiriit developotacnt; the by tsw% an/.! regiil►riom of the
<br /> ctsndoinimont or planned unit devclopinew, And constiumol,documer,ts. It a condominium or planned unit develnprtent
<br /> shier i's exrctacd by Borrower sod recorded together with this Motigage, the covenants and wgit-ementt of such fitter
<br /> shall be incorpormcd a-go anal shall Amend and supplrment the coveriwitti and agreements of this li;fortgage as of the rider
<br /> ,.tore a part hrrcof.
<br /> 7. Prarrrtion Of Lenders Srrtirlry, 11 HorTow•cr fa,li' to perfoPm the covenants mid agrgtments contained in this
<br /> Morigag;e, or if any action or procevding,, is cKymme:rceC; which materially affects Lender's interest in the Property,
<br /> inchstling, but rent lmitcd to, eminent doina.in, ime! envy, "xk enforcement, or arrariterrnrnis or proceedings involving a
<br /> bankrupt or decedent. then Lcnditr iit Lendeir':1 option, upon notiee.lo 1.1arrvower, may make such appearances, disburse such
<br /> surrrs and take such action as is uavvv-Ary by protect lxndeec interest. including, but trot limirect to, disbumement of
<br /> reasonable attorneys fees and hairy upon eta Property 10 rilakd'repairs; if'L.emer required mo.rigast Insurance as a ~
<br /> coaadraion o1 maloog the loan umuied hy this Mortgage, Borrower shall pays the prerniivm required to maintain suet, i
<br /> imurancc in e(fcci urilil such liens as t"he requirement for such insurance tcrminatcn in accordance with 13mrtiwct's and
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