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<br /> LTNIPORM� CO�!ENAN75.. BObfOWCC a�d. I,ender cowenant and agree as follaws : � � .
<br /> 1. Pnyment of Prlaclpal and InteregL Sorrowor sha1l prornptly pay w-hen due the princrpal of a.hd interest on the
<br /> Indebtcdness evideneed by the 1Vote, prepayment and late chargts u provided in the Note, and xhe principal of and interest
<br /> oa any Futuce Advances secuced by this Mortgaga
<br /> 2. Pbndap lor Tazes aad Insuranc�. Subject to applicable law ot ta a writxen waiver by Lendtr, 8onower shall pay
<br /> Co L,eader on the day monthly insfatlments of principat and interest ace payable undtr tfie 1Vote, until the Nate is paid in tull,
<br /> a sum (hereia "Funds") squal to ona-twelfth of cne yeacly taxes and sssessments which may aitain priority over this
<br /> Mortgage, and gcound rents on xhe ProperCy, if any, p)us one-tweLfth of yea�ly premium instaliments for hazard insurance,
<br /> plus anatwelfth of yearly premium instalimeats for mortgagp insuranee, if any, a11 as reasonably estimaced inicially and frbm
<br /> pme to t�me by Lenda� on t6e basis of assessments and bills and reasonable estirnates thereof.
<br /> Tht Funds shall be held in an instimtion the deposits or aecounts of which are insure3 or �uaranteed by a �'ederal or
<br /> state agency (including Lender if Lender is such an institurion ) . Lender shall apply rhe Funds to pay said taxes, assessments,
<br /> insursaee premiums and grv4nd rents. Lender rtta-y npt ehargr far sa holding and applying the �unds, analyzing said account,
<br /> oC verifying a,nd compiling said assessments and bills, unless Lender pays Borrowor inieresC on t,he Funds and applibable law
<br /> � pemiits. L.ender ta make� such a charge. $orrOwar and I.endet rnay agtee in wrifing at the lime of exCcut�ion of 2his �.
<br /> ! Mortgage Ehat interest an the Funds shall t+c paid to �orr�wer, and unless suc6 agreemenc is mede or applicahlo law
<br /> requices such interest to be paid, Lender shall noc be reyuired ca pay Borrower any interest or earnings on the Funds. L.tnder
<br /> sha21 givp to Borcower, witfio,Ut cha�ge, an annual accuunting of the Funds showing credits and debits to tihe Funds and the
<br /> purposa fur which eacl� dabit ta the Funds was made, The Fands are pled$ed as additi�nal secucity for the sums seoured
<br /> by this MoMgage.
<br /> If the amount of the Funds held by Lendec, together with the future monchty installments of Fcrnds pay5ble prior io
<br /> the due dates of taxes, axsusmenu, insurance prerniams anci Rrownd rents, shall exceod Che artraunt reyuired to pay said tuxes,
<br /> eagessments, insuranee premiums and ground rents as ehey fall dve, such excus shall be, at Borrrnaer s option, either
<br /> prompely repaid to $orrdwer or crodited to Borrower on manrhly inst�llments nf Funds. If the �moune a6 xhe Funds
<br /> held by Lender shall nat be S�rffieienR to pay tasecs, assessments, insurant¢ premiums and ground rents as theX falt due,
<br /> Borrower shall pay to Londer any amount necessary tu rnake up the deiiciency wichin 30 days from the date notice is mailed
<br /> by Lendes to Borrower requesting' paymenc thertof.
<br /> tJpon payment in full o[ all sums secu�ed by rhis Mortgage. Lender shall promptly refund to �orrc�wer any Funds
<br /> held by Lender. If under parageap6 1f3 riereof tkie Prapeny is sold or the Pruperty Is a[herwise acquired by Lender, Lender
<br /> 56a11 apply, no later Chan lmmediataly priue to t,he sale af che Property or ies acquisiiian lay Lender, a,ny Funds helcl by
<br /> Lendes at the time t�f applieation as a credit against the sums secured by chis Mortgagc.
<br /> 3. ApplYcation of Pay.ments. Unless applicable law provicles othe-rwise, all paymenks received by Lender under the
<br /> Nota and paragtaphs 1 �d 2 hereof shall be app#ied by Lender first in Payment of amounts payabfe ro I.ender by Borrower
<br /> Wndet pazagsaph 2 hareof., ehen to intCres[ payable an Che Note, than lo the principal pf [he Note, and then ta intere,5t and
<br /> priaCipal on any Future Ad�^anCes.
<br /> 4, Cha�ges; Licas. Botrower shall pay a16 taxes, assessments and onc�r charges, fines and impositions attribuxable to
<br /> the Property which cnay attain a priarity �ver this Monsage, a�d Ieaseh�ld payments or ground rents, if any, �n Che manqer
<br /> •; pro�!ided under paragraph 2 hereof or, if noc paid in such mannr.r, by Borrawet making payment, w. hen due, direcily so ihe
<br /> payee Chereof. $orrower shsll promptly �urnish to Lender all no[iees of amuunis due und.er th�s paragraph, and in the event
<br /> ti Bacrower sha)1 make �ayment dieeccly, Borrower shall prpmpMy fumish to 1_ender receipts evidencing such paymenu.
<br /> Botrower shall prompUy discharge any Lien which has priority ovcr this Mortgage: pravided, that Borrower shall' not be
<br /> required to discharge any such lien so long as Bc�rrower shall agree in writing tc+ rhs paymont of Che obligation secured by
<br /> e such tien in a manner acceptable to L.ender, or shall in good faith contest such lien by, or defend enforcemmt of such lien in,
<br /> � legal proceedings which operate to prevent the enforcement of the lien or fodeiture of the Propeny or any part thereof.
<br /> S. Huard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Properry insured
<br /> againatloss by Sre, hazards included within the term "eatended coverage", and such other hazards as Lender may require
<br /> ; and in such amounts and for such periods as Lender may require; provided, that Lender shalt not require that the amount of
<br /> such coverage exceed that amouat of coverage required to pay the sums secured by [his Mortgage.
<br /> . ; The iasurance carrier providing the insurance shall be chosen by Borrower subject ro approval by Lender; provided,
<br /> ` s that such approval shall not be unreasonably wiihheld. A11 premiums on insurance 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, directly to the
<br /> insurance carrier.
<br /> ' ' All insurance policies and renewals thereof shull be in form acceptable to Lender and shall indude a standard mongage
<br /> ' clause in favor of and in form acceptable to Lendea Lender shall have the right to hold the policies and renewals thereof.
<br /> ` and Borrower shall prompdy farnish to I.ender all renewal notices and all receipts of paid premiums. In the event of toss.
<br /> i Borrower shall give prompt aotice to the insurance carrier and Lender. Lender may make proof of loss if not made prompdy
<br /> fby Borrower.
<br /> � Unlesa Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or rcpair of
<br /> j the Property damaged, provided such restoration or repair is economicatly feasible and the security of this Mortgage is
<br /> r not thereby impaired. If such restoration or repair is not economically Feasible or if the security oF this Mortgage would
<br /> be impaired, the insurance procceds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br /> j • to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br /> date aotice is mailed by Lender to Borrower that the insurance carrier otTezs to settle a claim for insurance bene8ts, Lender
<br /> is authorized to collect and apply the insurance procceds at Lender's option either to restoration or repair of the Property
<br /> or to the sums secured by this Mortgaga
<br /> f Unless Lender and Borrower otherwise agrx in writing, any such application of proceeds to principal shall not extend
<br /> or postpone the due dau of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br /> ; such installmenu. If under paragraph 18 hereof c.t�e Property is acquired by Lendec, all right, title and interest of Borrower
<br /> in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sate
<br /> or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
<br /> acquisition.
<br /> �� � 6. Prcaerval(on aod Malntenance of Properfy; Leaseholds; Condominiums: Planned Unit Devdopmenls. Borrowcr
<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 with the provisiona of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br /> : (� condominium or a plenned unit development, Borrowcr shall perform all of Borrower's obligations under the declaration y
<br /> or covenants creatiag or governing the condominium or planned unit development, the by-laws and regulations of the
<br /> '' condominium or planned unit development, and constituent documents. If a condominium or planned unit development _ -�
<br /> : e rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider ' '- -
<br /> t s6ell be incorporated inta and sha11 amend and srapplement the covenants and agreemenu of this Mortgage as if the rider � �< ', ' y
<br /> were a part hereof. � `,
<br /> � 7. Protection ot Leode2a Secority. If Borrower fails to perform the covenants and agreements contained in this ;
<br /> Mortgage, or if any action or proceeding is oommenced whict� materially affects Lender's interest in the Property, Ei .
<br /> including, but aot limited to, eminent domain, i�olvency, code mforcement, or arrangements or proceedings involving a � ,
<br /> bankrupt or deceden4 �en Lendez at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br /> ' £ sums and take auch action aa is necessary to protect Lcnder s interest, including, but not limited to, disbursement of
<br /> reasonable attorney's fees and en[ry upon the Pmperty to make cepairs. If L.ender required mortgage insurance as a � " �� �
<br /> icondition of making tlx loan secured by this Mortgage, Borrower sha11 pay the premiums required to maintain such
<br /> Einsurance in effect until such timc as the requiremeat for such insurance terminates in accordance with Borrawer s and
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