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5® 003333
<br />U"ily-oaxt COVENANTS. Borrower and Lender covenant and agree as Zz siz.ws:
<br />1. Payment of Prt>sripaill and Merest. B«rrc >wer shall prr,
<br />irxlebt mprly pay 'A hen dix the principa of and interest oil the
<br />evidenced by the : ote, prepayment and late charges as provided In the Nate, and the principal of and interest ,
<br />an any Future Advances secured by this Mortgage.
<br />2- Funds fur Tawas and lusufasm Subject to aWicable law or to a written waiver by Leaser. Burrower shall pay°
<br />to on the day rtaoatthly instal is of principal and interest are payable tinder the Nate, until the !vote is paid in full,
<br />a sum (herein -Funds-) equal to twelfth of the yearly taxes and assessments which may attain priority over this
<br />M aP, and ground rents on the Property, if arty, galas one - twelfth of yearly premium install
<br />n -:sits for ftazztd insrsrattte.
<br />plus t of Orly Premium installments for mortgage insurance. if any. all as reasonably estimated initially Anil from
<br />time tin time by Lender on the basis of assessments and balls and reasonable estimates thereof.
<br />The Funds shall be held in are institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state a • (including Lender of Lender is such an institution). Lender shad apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ,ground resits, Lender may 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 jaw
<br />permits Lentler to make such a charge. Borrower and Lender neat ;agree in writing at the tinge of executions of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay l3o}rr< war any interest or earnings on the Funds. Inder
<br />shall gave to Borrower, without charge. an annual accounting of the 1 a nil, ,how irnL credits and debars t,% the Funds and the
<br />arpoae fzlr whisk each debit I,i the l=tar,tss was ,Tladc- The Funds are piedged as addii anal security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds hold by Lender, together with the future monthly installments of Funds payable prior to
<br />the die dates of taxes, assessments, insurance premiums and ground rents, . shall exceed the amount required to pay said taxes,
<br />assessments. insurance premiums and ground rents as they fal! due. such excess shall be, at Borrowers option, either
<br />Promptly repaid tit Borrower or credited to Borrower on monthly installments of Funds. If the itmoont of the Funds
<br />held try Lender shall not to sufficient to pay takes. assessments, insurance premiums and ground rents as they fall dace.
<br />Borrower shall pay to Lender any amount necessary to snake up the deficieiary" within 30 days iron tl e date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this klortgage_ Lends ;hail prontntly reftand too Borrower any Funds
<br />held by Lunde;. If under paragraph 118 hereof the Property is sold o, Ill,: ?' rte is cube wise cgttired by Lender, Lender
<br />shall apply, no later than irnrnediatciy prior to the sale tof the Propenl 71S acquisition by Lender. any Funds held by
<br />Lender at the time of application as a credit Against the sums secured by this Mortgage,
<br />3. Ap ion cif Payments 1 nless applicable law prc?vst:es o,ht'rwice, all paymc:lts .iectl by Lender under the
<br />Note and paragraphs j and 2 hereon shall be applied by tender first n pa)ment of at „aunts payX -Ile i,� Lender by Borrower
<br />;ender paragraph 2 hereof, then to interest payable on the Note, then to the principal of the ;lute, and then to interest and
<br />principal on any Future Advances.
<br />3. Charges; Liens. Borrower shall pa\ all taxes. assessments anti other charges. fines and Impositions attributable to
<br />the Property which tnay attain :a priority over this Mortgage, and leasehold p.ay°mews or ground rents, if any, in the manner
<br />provided under Paragraph 2 hereof or, if not paid in such asnanner. by Borrower making payment. when due, directly to the
<br />payer thereof. Borrower shall promptly furnish to Lender all tnotices of 11TSa3 rats data? _s.,der this paragraph, and in the event
<br />Borrower shall make y as,; payment ilirecilN.. Borrower shall prcansptly fury -h its Lender re,:eipts evidencing such payments.
<br />Borrower ;:nail promptly tits:l .i gc any lien u high has pr,ori % czv� r this iortgtage: ; ravioled. tinat 13orrclwer shall not be
<br />required to discharge Any such lien sc> long as Borrower shad agree -, :, rit,ng in the payment o! the obligation secured :oy°
<br />such lien in a manner acceptable to Lender. or shall in good faith contest ,LPch iaea bv, or deferid eniorceme:rt of such lien in,
<br />legal proceedings which operate it) prevent the enforcement of rile ii n or forfciturc of the l'rr,perty or any part thereof.
<br />a S. Hazard insurance. Borrows r shalt veep the inIpruvelnent, new eyisti ag or hereafter erected on the Ptolemy i issued
<br />F a annst loss spy fire, l3azaards and id d ; +ilhin the term \tcndC i LOVera a C a ? i st,ch r =then a' t «ardc as i.eiailer ti3ae require
<br />anti to such atstt�tsnts and a ar st.ach ar ltiis as l.etader m..y s"equ..c; pro? tde,,. thai Lcndc; ,hall not - quire that the arnou'lt of
<br />Stich coverage exceed that amount o! cod ragc icquired 2:1 Pay the man., SCCitrid bi -,ho, �\JOrigAiTe.
<br />The insurance carrier providing the insurance shall Ile cho.a -n by Bortc,wer sa{b ect Io a.pprcrval by Lender; provided. r
<br />that soh approval shall not be ,ar,reassc?nably withheld �!? pr
<br />1 ;a,n7, s: a, st anc, }ai�,tcles >hali tic paid ; . the mannics,
<br />Gov d_under riparagraph ireretu err. if ;sot paid in suet: ITiarataL b\ 13,.i rower rra -1 pa +
<br />insurance c:ttar.
<br />� payment a"hetY tit,t t,3t,ectly to the
<br />Clause AN inswance 13a3trca a and rC.,beH ^i Ifni, e,`i `hiafi tiL ': la'ma's :a�iCj',at'ia' ill t Cd "Cl and s?' ,!; fti,. -:,;dc as fiat dild mongage
<br />in favor of and in "'oral �.i.eptiible :c- l_endes. 1_ i dP.r ,i i; halt. idle ;1l�tt S? -�til ht: - ,)t1:ACN and r.'t71,tiilS tlrrr4i�t.
<br />Arid ro � shall prsImPtly furnish to Lender ail renewal rats,.ces and ail rice ; "• � 1 a � 1 ?remilnIN n r',c event ; ?f loss,
<br />s �_; ? xiu l
<br />Borrower shall glee pronlPt 111011 c '0 the msurar.ce earner grid Lender 1 endci 111- -, rlia't:e pso,'f Of, Moss it fltzt tlaacie prcrnlgatly.
<br />by Borrower,
<br />Unkis Lender and Borrower uthe'rwSSc Agree ar3 writing. irsuranLC j)10ched% s,?a;l toe apl,lleti to resrcratr«n c repair 0f
<br />the, Pre rte damaged, provided such resto,Ation or repair IN tcoi om La ;ly :a ,;hit land tine sec"trlty of Ill!% Mortgage 1s
<br />TKII thereby impaired, It such restoratiotn or repair is not ccconomically ftasi�k ie for i' t�,e s c� ;t icy of this Mortgage would
<br />t a aired, the insurance prtneetls shall be applied to the sums sccaned 1>s „ii %Iongaggc. 'itath rile excess, if any. paid
<br />to Borrower If the Property is abandoned try Harrower. or if Borrower tails :u resptrrad I(, l -ender within 3(1 days frcam the
<br />date Mice is nnail by Lender to Borrower ,that the insurance carrier ' �� seine a claim for irisuran,c benefits Lender
<br />, Leer t
<br />is Authorized Ica collect and apply the insurance proceeds at Lender's opt ;can either to restoration of repair of the p!t-)p rty
<br />or to the Runs Secured by this Mortgage,
<br />Unless Lender and Bortowei tghcrwisc agreein writing, any au:h ;application of pr,�ceds to 'principal shall viol extend
<br />er pt the due date of tare nxxsthay installments referred to in paragrAphs l and here�rf or chasage Lire aasrourt cli
<br />sash rr a merits. It under paragraph 18 hereof the Property is ac>iiuired by Lender, all right, title and interest of &--rrower
<br />In and to arty insurance policies and in and to the pro,eeds thereat resultiatg fror,1 uanaAge acs tl�� lora�rty arri.rr ti+ the sale �
<br />Or Ac�r shall p to Lehr to the extent _ ?f th,e sutras cured by this tin as e e it) diapr
<br />ac t n_ g g y pr10'r ta? Stich sale or �
<br />b. preservation and MaWtwaare of Parstperty; l.ea • C 'ass ts, Planned t ftit I)VIIICIOPANICath. BOrrOAcr
<br />�frall kcCP IfIC Property in good repair ai-W shall no, ccomrrut waste of permit �mpairrncnt or detericnation of the Pruperiy
<br />And shall comply with the- provisnorans of ally lease if chi+ Mesrtgage 1s on a !Ciiss aaricl, It dhis Mortgage is ern s
<br />c rnirsinatts car a planned unit dt.vclt rest Its as
<br />F ant, ��row� shall rft�,rsr All of Borr�,+�er °a ,#rl,a °ic�aas under the doclara€tcan 1
<br />m c Ovcuantfi creating or governing the t>:ondtxnaniUri or Planned wash t ve oplirent, the t% . -lAw-, and reg,ilatlosas -1 the
<br />cWAkM1uMuM of planned unit developatwrit, and ccanstrtuent dcxumara"ia . If a ,ur.ti € ?rTai,nesttn of lliaYlracd ;ir,tt Ue elt4pnn4nt
<br />€fir is executed $ Borrower and recorded tither with this MOng.agt, the :, eana:nls and agreement, A snch ritlea
<br />1-ball be Incorporated into and shall) amend anti svpplcment stage covrnan°a and agscertncnis of this Mortgagc As of the rider
<br />wCTt a pan bervot
<br />i. s Security. If B<5rrc1wCr ,a i, 14o 'emit n; the I''okend' its Ann= Agt maents roiilatsaed ail chi"
<br />M-wa y action ptt� 1 :s cilrrzrtreann� ci wf acf nn fltr aAlay atfs . a . 3g��� py
<br />I £a {.a Int r' eat in 1S c Pfopvl!ti
<br />ludnk
<br />• this ''� l ltl. Litnida+w r9t d#.7"$an,�1r4. it Seri V4°; Pit , ;, e it „t. S t ai � s f.l? t3� -i-+. Pi; ±, sI
<br />�."3t l3 r$3 rig
<br />t"Ofti,rupt of Lender ai 3ndcr'b 4 :prat`,sa_ ttp5s31 sal . ,c; c �sa�hr"s9,�::a. i' 3 a e yP
<br />sims and take sawh ac'non as is s te".ary to p s*rcct
<br />1 e €C ='s saretc�s ,• <,s �° ;, � , t ra ;�l
<br />reams .. aww'"t;ys iaea arasl c=i'ty ispasta tt'x
<br />1t �a ag s i Matt
<br />€�� mak-"Pr fhw ktan t acct° by t#`aas Moa,a Be °r mac' �' °a =� 'r�
<br />9, k.A
<br />_. �3 i' tt FY xa1 '�3+itiiY na 3$ te: a rtvirteaat Fir _mss
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