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<br /> Urtu�o� CovENwxms. Borrower and Lender covenant and agree as follows :
<br /> ; 1, Ppymeat af Y�inclpal qnd InteresL Bormwsr shali prompdy pay when due the principal of and interest on the
<br /> indebEadneas evidenced by the Nota, prcpayment and late charges as provided in the Note, and the Principat of and intarest
<br /> � on any Future Advances secured by this Mortgage.
<br /> Z PY�nds for Tazes and Imuiance. Su6ject to applicable law or to a wriCten waiver by Lender, Bartawer shali pay
<br /> ` to Lender on the day monthly instaliments of principal and inferest are payable under the Note, until the Note is paid in full,
<br /> � a aum: (6ereia '•Funds'� equal to one-twelfth of the yearly texes and assessrnents which may auain pciority over this
<br /> , Mottgage, and ground renu on the Pruperty, if any, plus one-twelfth of yearly premium installmenta for hazard insutance.
<br /> � plus one-fwelfth of yearly premium inatallments for mortgage insurance, if any, all as reasonably estimated initiatly actd tcom
<br /> � timc to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br /> j 'I7�e Funds shall be held in an institution the deposiu or accounts of which are insured or guarantecd by a Federal or
<br /> ; statt agency (including Lender if Lender is such an institution) . Lender shalt apply the Funds to pay said taxes., assessiinenu,
<br /> � insuraace premiums, and ground rents. L.ender may not charge for so holding and apptying the Funds, analyaing said account,
<br /> ( c�r veri�ying and compiling said assusments and bilis, unless Lender paya Borrower interest ort the Pnnds aad applicable law
<br /> i permits L.ender ta mske such a charge. Borr�wer and Lender may agree in writing at the time of execution of tk�is
<br /> Mortgage that interesf on the Funds shall be paid to Borrower, and unless such agretment is made or applicable law
<br /> � requir�s such interest to 6e paid, Lender shall not be required to pay Borrower any inrerest or earnings on the Funds. Lender
<br /> � shall �ve Yo Borrower, withouC el�arge, an annual accounting of the Funds showing etedits and debits to the Funds and the
<br /> $ purposc for whieh each debit to the Funds was made. T6e Funds are pledged as additionat security tor the sums secured
<br /> by this Mortgage.
<br /> If the aznount of the Funds held by Lender, together with the future monehly installments of Fu�ds payable prior to
<br /> the due dates of taxes, assessmenu, insurance premiums and ground rents, shall exceed the amount requiced tq pay said taxes,
<br /> assessments, insurance premiums and grqund eents as they fall due, such excoss shall be, at Bonrower's optinn, aither
<br /> , prompdy repaid to Borrower or credited to Borrower on monthly inseallments of Fuads. If the amount of the Funds
<br /> r held by Lender shall not be su�cient tq pay raxes, assessments, insurance premiums and ground rents as they fall due.
<br /> � 8orrower shall pay to Lender any amount neeessary to make up the deficicnry within 30 days from the da[e notice is mailed
<br /> by Lender to Borrower requesting' payment thereof.
<br /> ! LTpoa payment in full of sil sums secured by this Mortgaga, Lender shall promptly refund to Borrower arty� �'unds '
<br /> % hdd by LenUer. If under pazagraph 18 heteof the Property is sold or the Propeety is otherwise acquired by Lender, Lender
<br /> % a6ap apply, no latec than immediately prior [o the sale of the Property or irs acquisition by Lender, any Funds held by
<br /> Leader at the time of application as a credit againse tihe sums securecl 4y this Mortgage.
<br /> 3. Applicallon of Payments. Unless applicable law provides ocherwise, all payments received by Lender under the
<br /> jNote and paragraphs 1 and 2 hereof shall be applied by Lender first in payment af amounts payable to Lender by Borrower
<br /> ; undar pazagraph 2 6ereof, then to interest payable an the Note, thrn ip the principal of the Note, a�d then to interat and
<br /> i principal on any Future Advances.
<br /> � 4. Cha�ges; Liens. Borrower shall pay, all taxes, assessments and otNer charges, Snes and impositions atrributabla to
<br /> the Prarperty which may attain a prioriry over this Mortgage, and leasehold payments or ground rents, if any, in the ma�vaer
<br /> 9 pmvided under paragraph 2 hereof or, if not paid in such manncr, by �orrower making payment, when due, directly to the
<br /> 3 payee fi3rereof. Borrower shalf promptly furnish tq Lendnr all notices of amounts due under this paragraph, and in the evant
<br /> Barrovc•er sha19 malce payment dicectly, Borrower shatl prompdy fumish to L.ender receipts evidencing such payments.
<br /> ? Borrower sh811 promptly discharge any lien which has priosity ovet 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 paymen[ of ihe obligation secured by
<br /> ' t such liea in a manner acceptable ta I.ender, or shall in good faith contesr such lien by, or defend enforcement of such lirn in,
<br /> legal proceediags which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br /> ` 5. Hazard Insarance. Boaower shall keep the improvements now �existing or hereafter erected on the Property insured
<br /> � against loss by Sre, hazards included within the term "extended coverage", and such other hazards as Lender may requiro
<br /> , and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
<br /> ; � such corverege exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br /> y 'I7ze inaurance carricr providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
<br /> � that sueh appmval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br /> - I provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, direcUy to the
<br /> � insuraace cazrier.
<br /> 1 AII insurance policies and renewals theraof shall be in form acceptable to Lender and shall indude a star.dard mortgage
<br /> • � clause ir favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br /> : and Borrower shall prompUy furaish to Leader atl rrnewal notices and alI receipts of paid premiums. In the event of loss,
<br /> � Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made prompUy
<br /> � by Bomower.
<br /> Unlesa Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to rostoration or repair of
<br /> ; the Property damaged, provided such restoration or repair is economically feasible and the sewriry of this Mortgage is
<br /> x not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mongage would
<br /> . � be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, 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 /> - 7 date notice is mailed by Lender to Borrower that the insurance carrier ofLers to setde a claim for insurance beneflts, Lender
<br /> : � is suthorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br /> � or to the sums secured by this Mortgaga
<br /> } Unless I.ender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> � or postpone the due date of the monthly instaltments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> auch in�allments. If under paragraph IS hermf the Property is acquired by L.ender, aIl right, title and interest of Borrower
<br /> = '� in and to any insurance policies and in and to ffie proceeds thereof resulting from damage to the Property prior to the sale
<br /> or acq�asition shal( pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
<br /> acquiaition.
<br /> , � 6. Praervation and Matuteaance of Prope�ty; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br /> shall koep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Propeny
<br /> � and s6a11 comply wiffi the provisions of any lease if this Mortgage is on a Ieasehold. If this Mortgagc is on a unit in a
<br /> � condocainium or a planned unit development, Borrower shall perform all of Borrowers obligations nnder the declaration !
<br /> j or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br /> condotrmnium or plamed unit development, and constituent documents. If a condominium or planned unit development ,_ - ` �,
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<br /> rider is executed by Bortower and recorded iogether with this Mortgage, the covenants and agreements of such rider ��:-: ;
<br /> shell be incorporated into and s6all amend and supplement the covenants and agreements of this Mortgage as if the rider ,� �`
<br /> were a part hereof. ,
<br /> 7. Prutectlon of Lender's Secodty. If.Borrower fails to perform the covmants and agreements contained in this j° ,
<br /> ' • } Mongage, or if any actioa or proceeding is commenced which materially affects L.ender's interest in the Property, ; ,� "
<br /> # includinqg;but not limited to, eminent domain, insolveacy, code enforcement, or armngements or proceedings involving a ` ' , � `
<br /> $ baakrupt or decedent, then L.ender at LcndePs option, upon notice to Bonawer, may make such appearances, disburse such '' �;:
<br /> '# sums sod take such action as is aecessary to protect Lender's interest, including, but not limited to, disbursement of ` '" �' ' '
<br /> '' ; { reasonable attoxney's fw ' and eatry upoa the Property ta make npairs. If Lrnder rcquirod mortgage insurance as a
<br /> <= conditiom of making t6e loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such
<br /> `:', j inaurana in eSect until suc6 time as the tcquiremeat for such insurance terminates in accordance with Borrower s and
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