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<br /> 78--� llU � O � �
<br /> Utatponr+ Covatvwr�rts. Bortowpr ahd Lend'er coveoant and agree as foqows�
<br /> ; 1. 1'ayment of PaincYpal and LderesL 'Borrower shail ptomptly pay when due 2he principal oC and interest on the
<br /> ' indebtedneas evidenced by 2he Note. pi'epaymmt and lat� charges as provided in tht Note, and the pcincipal af and interest I:
<br /> on aay Futuro Advances ucured by this MortgBge.
<br /> 2. I�nds [or ?aza rnd Lneuranee. 5ubjeet to applicable law or to a written waiver by Lender, Sorrower shatl pag 1
<br /> ;, ; to Lcndee on tlx day moqthly instaliments .of principal and intenosx are payslile under Che No[e, until the Note is pald ia full, 1
<br /> � ' a aum (herein "Funda") equaF ta one-twelfth of the yoarly taxes and assessments whicri may sYtain prioriry over this
<br /> Mprtgage, and ground renta on the Pmpenry, if' any, plus onatwelfth vf yearly premium installments for hazacd insurance,
<br /> plus ane-twelfth of yearly premium installments far mortgage insurance, if any, all as teasoaably estimated initially and fYom
<br /> umt to time by tieUder on thc bawia of asseuments and bells and reasonable escimates tCacrtof.
<br /> Ttie Funds shali be held in an institution Yhe deposits or accaunts of whizh aro ins.nred oc guaranteed by a Federat or
<br /> �tate agtncy (including I.snder if Lendee is such an instituCion) . Lender shall apply the Funds to pay seid Yaxes, asseumeats,
<br /> insuranse premiums and gconnd renis. Lender may rtot charge for so hold+ng and applying the Funds, analyzing said account,
<br /> or verifyrng and complliqg said asatssmenu and bills, unless Lendee paps 8orrower interest oa the Funds and applicable law
<br /> pprmiu Lender to make auch a charge. Borrowev and Lendec may agrea in Writing et xhe time of execution o� Yhis
<br /> MoRgage that interest on the Funds shall be paid to Borrower, and unless sucb agreemenY is mado rf� applitable law
<br /> ; : requira sucfi interest to be paid, I:eqder shall noc be requiced ta pay Borrower any interest or earnings on the Funds. Leuder
<br /> shall give fq Bvrrower, withoui eharge, an annval accounting of the Funds shoW!ing credits and debits to the Fu�s and tho
<br /> pucpose for which eaclt debit to the Funds was made. T6e Funds are ptedged as adclieional suurity for tha sncns secured
<br /> � by this Mortgage.
<br /> If the amount of We Funds held by Lender, toSether with the future monthly installmonts aF Funds payable prior to
<br /> the du.e dates of tezes; assossrrtienu, insurance premiums and groued rents, shall exeeed the amounx requiced to pay sa'ed Yaxes,
<br /> • -�a++_+ents, insurance premiums and ground rents as they fall due, such �xcess shall be, at Bortower's ppci�n, either
<br /> prtlm,pdy repaid to Bonpwez or ccedifed to Borrower on monthly installmenYs of Funds. If the amount of Yhe Fmnds
<br /> held by Lender shall not be suf5c. ient to pay taxes, assessments, iosurance premiums and' grnund rents as triey fall due,
<br /> Saceower shall pay to Lendtr any amount necassary to make up the deficicncy within 3U days from the date notice is mailed
<br /> by Lender to Bortowcr reques[ing' payrttent thercof.
<br /> ; iJpon payrnent 3a (ull of all aums secured by this Mortgage, Lender shall prpmp[ly refwnd ta Bornower any Funds
<br /> held by L.eaJen_ If under paragraph I8 hereof the Property is sold or the Pcoperry is atherwise acquired by L.ender, Lendee
<br /> �� s6a11 apply, nea laCer chan immediately priar to thc sala of the PropGrty or 'rrs acquisiCion by Txndeq any Funds held by
<br /> ', L.ender at [he tims pf applicarion as a ccedit against Che sums secured by t,his Mortgage.
<br /> 3. ApplicaHon of pqyments: Unle:ca applicable law providu orherwise, all paymenrs received by Lender under the :
<br /> Nate aud paragzaphs 1 and 2 hereof shall be applied by Lender first. in pa.yme-nt of amaunts payable Yo Lender by Borrpwnr
<br /> b undet paragraph 3 heteaf, then to interest payable on the Note, than to the principal of the Note, and then to interest and
<br /> principel qn any Future Adv�nces.
<br /> * �4. Charges; Lens, Sorrower shall pay atb taxes, assesxmenes and othec cNsrgex, fines aed iinpasitions attr"►butable to
<br /> �' the Property which may attain a priaritY over this Mprtgage, and leasehold payments or ground rents. if any, in the mannet
<br /> pmvided under paragraph 2 hereaf pr, if hat paid in such rtranner, by Borrower making payme�nt; when due, dirocCly Yo the
<br /> � payx thereof. Burtrawer shu11 promptty furaish to Lender all nutices �f amounts due undec Lhis paragcaph, and in the event
<br /> ,, BorroweY •5ha11 make payment directty, Borrowcr shall prpmpkly furnish to L.ender receipts evidencing such payrnents.
<br /> � Bvrrowea shall prompdy discharge any lien cvhich has priariYy over this 1W1orRgagt; provided, that Borrowor shall nat be
<br /> �' ;equired to discharge any sueh leen so long as Borrower shall agree in writ'in$ xa [he payment of tha obligation secured by ;;
<br /> such litn in a nkanner acceptable to ,4.ander, or shall in good faith contest such lien by, or defend enEorcement of such lien in, ;
<br /> legal proctedings which operate to prevent the enforcement of the lien or forfeitare of thc Property or any part thereof.
<br /> 5. Aazard Insarance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured �
<br /> against loss by 8ce, hazards included within the term "exiended coverage", and such other hazards as Lender may ttquire
<br /> and ia such amoants and for such periods as Lender may require; provided, that Lender shall not require that the amount of
<br /> such eoverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br /> T7u insuraace carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
<br /> that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in We maoner
<br /> provided uader paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, direcUy to the
<br /> insuraace carrier.
<br /> All insutance policies and renewals thereof shal� be in form acceptable to Lender and shall include a standard mongage �'`.
<br /> olause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, �;
<br /> and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the eveut of loss. ;
<br /> Borrower shalt give prompt nodce to the insurance catrier and Lender, Lender may make proof of loss if not made prompily 'i
<br /> by Borrowu.
<br /> Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br /> the Property damaged, provided such restoration or repair is economically feasible and the securiry of this Mortgage is '
<br /> uot thereby unpaired. If such restoration or repair is not economica�ly feasible or if the security of this Mortgage would
<br /> be impaired, the insurance proeeeds shall be applied to che sums secured by this Mortgage, with the excess, iE any, paid
<br /> to Bonower. If t6e Property is a6andoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br /> date notice is mailed by Lender to Horrower that the insurance carrier offen to settle a claim for insurance benefits, Lender
<br /> " � is autl�orized to coUect and apply the insurance proxeds at Lender's option either to restoration or repair of the Property
<br /> or W the sums secured by this Mortgage.
<br /> Unless Lender and Borrower otherwiu agree in writing, any such application of proceeds to principal shall not extend
<br /> or poatpone the due dau of the monthly inatallments referred to in paragraphs 1 and 2 hercof or change the amount of
<br /> auch installmenu. If under pazagrap6 18 hereof the Property is acquired by Lender, all right, tide and interest of Borrower
<br /> in and to any insurance policies and in and to the proceeds thereof ruulting from damage to the Property prior to the sale
<br /> or acqtisition shall pass [o Lender to the extent of the sums secured by this MoRgage immedistely prior to such sale or
<br /> acquisition.
<br /> � 6. Praervation and Mdntenance of Properly; Leaseholds; Condominiuma; Planned Unit Developments. Borrower
<br /> shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br /> ,. � and shall comply wit6 the provisions of any lease if this Mortgage is on a Icaschold. If this Mortgagc is on a unit in a
<br /> { condominium or a planned unit development, Borrower shall perform atl of Borrower's obligations under the declaration
<br /> � or coveeants creating or goveming t6e condominium or planned unit devetopment, the by-laws and regulations of the �
<br /> condominium or ptanned unit developmrnt, and constituent dceuments. If a condominium or planned imit development
<br /> . ' rider- is ezecuted by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider �:" . �,''� >
<br /> shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider ` `� �
<br /> wero a part heteof. _ ''�
<br /> 7. Profecdon oE Lendec's 3ecudty. If Borrower fails to perform the covenanu and agreemmts contained in this ` �' �
<br /> � Mortgage, or if any actioa or praceeding �s eommenced whioh materially affects Lender's interest in the Property, t 4 '
<br /> inetuding, but aot fimited to, eminent domain, iosolvency, code enforcement, or arrangements or proceedings involving a ft; :�
<br /> � bankza�pt or decedent, thee Lender at I.ender's option, upod notice to Borrower, may make such appearances, disburse such ' ,: �'�o . `
<br /> sums and ;ake such action as ia necessacy to protect L.ender's interes� induding, but not limited to, disbursement of '' ` _';��&,
<br /> reawaable attorney's fees ana entry upon the Property to make repairs. If I.ender requircd mortgage insurance as a =' ;,� "_ �
<br /> condition of makiog tHe loan secured by t6is MoRgage. Borrower shalt pay the premiums required to mai�tain such
<br /> � insuranx in eSut tinU7 such time as the requiremeat for such insurance terminates in accordance with BorrowePs 'and
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