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<br />84~~n()06405
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<br />U!">iIt'ORM CO....E!'> \N-I ~ U,lrrO\\t'r ,l[1d l.ender l...'ovcnanS and agree as foHo\\-,
<br />I. Paymeot of Principal lUId Inlen..t. fj",roWCf' shall promptly pay when due the prmeip;L1 ot and mterest 0" the
<br />1Il<leblednc" C\,deneed hy Ihe Note. prepayment and late charges as pnwlded In the Note. and the principal of and inlerest
<br />r on any Future Ad'ances secured by Ihis Mnrlgage,
<br />2. Fonds for 'faxes and Insul'lUlce. Subject ro applicable law or to a wrillen waiver by Lender. Borrower shall pay
<br />to Lender nn the day monthly Installments of principal and mlerest arc payahle under the Note. until the Note is paid in full.
<br />a sum therein "Funds") equal 10 one.twelflh of Ihe yearly taxes and assessments which may a\lain priority over this
<br />Mortgage. and ground ,enlS on the ProperlY. If any. plus one-twelfth of yearly premium inslallments for hazard insurance.
<br />plus 'lOe-twelfth of yearly premium installments for mortgage insurance. If any. all as teL'lOnably estimated initially and from
<br />time to time hy Lender on Ihe basIS of assessments and hills and reasonahle eSllmales thereof.
<br />The Funds shall he beld in an IIIslitution the depoSIts nr accounts "t whICh are insured or guaranteed by a Federal or
<br />Slate agency I Including Lender it l.eilder IS such an instilution}, l.ender shall apply the Funds to pay said taxes, assessmenls,
<br />Insurance premiums and ground 'ents. l.,nder Illay not charge for so holding Jnd applying the Funds. analyzing said account.
<br />,'r verify"'g and compiling said assessments <Ind bills. unless L.ender pill'S Bormwer interest on the Funds and applicable law
<br />permJis L.ender to make such a charge. Bormwer and L.ender may agree In writing at the lime of e~e<:ution of Ihis
<br />Morlgalle Ihat IIHeresl on thc Funds ,hall he paid to Borrower. and unless su;;h agreement is made or applicable law
<br />requIres such interest to be paid. lender shall nOI he required to pay Borrower any interesl or earnings on the Funds. Lender
<br />,hall gIve to Borrower. WIthout charge. an annual ac;;ounring of the Funds showing credits and debits to lhe Funds and the
<br />purpo,e I,'r whICh c"ch deb.t 1<' Ihe Funds was :nade. The Funds arc pledged as additional security for lhe sums secured
<br />hy thIS .\1t)rtgage
<br />If the amounl "I' the Funds held hy L.ender, logether wilh the luture monthly installments of Funds payable prior to
<br />Ihe due Jates .,f laxes. aSSC"Olcn". Insurance prermullls and ground renls, shall exceed Ihe amount required to pay said taxes,
<br />assessments. tOsurance premiums and gmund rents as the}' fall due, such excess shall be. al Borrower's option, either
<br />promptly repaid to Borro"cr or eredlled to Borrower on monthly installmenls of Funds. If the amount of the Funds
<br />held by I.cnder shall not be sufficient to pay taxes. as.~ssments, insurance premiums and ground rents III they fall due,
<br />Borm""er shall pay to Lender any' amount necessary to make up the deficiency within 30 days from lhedate notice is mailed
<br />by Lender 10 Borrower requesllDll pa)'mcnr Ihereof.
<br />Upon paymelU m full of all sums secured hy thiS Mortgage. Icnder shall promptly refund 10 &Trower any FUIIds
<br />held hy l.ender II "nder paragraph I k hereol Ihe Properly IS 'old or the Property IS otherwise acquired by lender. l.ccdcr
<br />shall apply. n" laler than Immedialely prl<lr 10 Ihe ,ale of the Property MilS acquisition by' Lender. any Funda held by
<br />Lender al rhe 11m ot application as a crcdil agamst the sum' secured hy this Mortgage.
<br />3. AppficllClon of 'ay_nts. tJnb, apphcah!e law proVIdes olherwi~. all payments received by Lcnder under tbe
<br />-~-'I~u':anopara3rapn~ I ana~ncreoi'!ai..uiOcappIH:Ut)yi.cn-cr -u'S m-payrm:n..o -.moun.. ya.o. - ~ ~ -
<br />"nder parallraph ~ hereol, then 10 .nteft"t payable on the ,,"otc, thcn 10 Ihe principal of lhe Note, and then 10 in~ aad
<br />,,';mc'l'a) on an' FUlure Adl'ance.,
<br />4, (.hatan; 1..1...... B."",wcr ,1".11 ,lay ..1, "",', .l"essm~nt, and orhcr charges. fines and impositions attributable to
<br />!'Ie Propeny whloh may ..nain a p""my '-,wr Ih" ~lor!ga~c. and leasehold payments or ground rents. if any, in tho _
<br />proVIded onder l",ragraph 1 hereof or. if nnl 1';11.1 III 'ueh manner. by Borrower making payment, when due, directly to die
<br />pllLY<< lhere"t Borrower ,hall ;sromplly Iu",,,!; 10 Lender all notices 01 amounts due under this paragraph, and in tho.-t
<br />Borf('wer ,hall maKe pal'lllenl dllCell\, Ihlrr"'''cr ,hall p'omp!ly turnish to Lender reeeipls evidelKing such payments.
<br />Bmw"er ,hall pmmprly dlsdlolfge any I,cn"h.,'h has pllollly over lh" Mortgage: prOVided. that BorroWCl' shall not be
<br />reqUired '" dIScharge any ,uch lien '" long .IS B,rrr,.wer shall agree in wrlllOg to the pa)'menl of the obllgalion SCl(:urod by
<br />,ueh lien III a manner acceptable '0 Lcnder. p, ,hall 1<1 good faith conIc" su~h lien hy. or defend enforcement of such lien in.
<br />ICllal prO\:eedlllgs whl~h ,)perale 10 prnent tht: cntnrcement 01 Ihe hen or forfeiture of the Property or any part lhereof.
<br />S. Haunll_e, Horrowcr ,hall keep the Intpn'",menh <10W eXbtlOS or hereafter erecled on the Property inaured
<br />agaUlsl Ios.s hI fire. hazards mdud,'d "lthln rhe lerm """ended cowrage", and such other haurds as L.ender may require
<br />and 10 SIKh arn"",,,s '"1d tor such perl(ltJs 4;, lender lIlay ,equlre; "",vlded. that Lender shall not require Ihat the amount of
<br />'h..l1:'~ coverage c\ceed thal amounf tlt ~O'ic..rag~ rC4Ulred fl\ f'3~ rhc ';'~ms secured h)' th.s Mortgaac.
<br />'\he IOsu"nce <arner providing Ihe ""manee shilll he ,'ho.en by Borrower subjecl 10 approval by lender; provided.
<br />Ihat 5.. " apPlOval ,hall nol he "nceasonahlv wllhbeld :\11 prellllllms Oil insurance poliCIes shall be paid in lho _
<br />proVtdeo 'oder paragraph 2 hereol or, ,t nO! palll III su,'h manner, hy Borrower makrns payment, when due. directly to the
<br />Insurance c.. "'ner.
<br />All insur, 'lce poliCIes and ren 'wals the",,'1 ,hall he III form .lceepra!>le 10 I.ender and shall include a standard monpac
<br />dause In favM of and 1II IorIO aceept"hle ,p I cnder. Lender "Mil haw Ihe nghl to hold the policies and renewals thereof.
<br />and Borrower shall promplly furnIsh to Lcndcr all renewal notICes and all receIpts of paid premiums. In the event of Joss.
<br />Berrower shall IPve promplllOllcc 10 rhe lIlSIIr.IIKe carner and l.ender. Lender may make proof of loss if not made promptly
<br />by Borrower
<br />UniCM Lender and Bmwwer nth""'"e agree III ""!lng, IIIsuran.e proceeds shall be applied to re1torarion or repair of
<br />the Properly Jamaged. prOVided ,ueh reotoral'<''' or repair" economIcally leasrble and lhe security of this MOI'tI. ill
<br />not lhereby impaired 1/ 'lIeh reslOratlon or repaIr IS nol eCllnomKally feasihle nr if lhe SCl(:urity of this Mort.. would
<br />be Imparred, Ihe illsurance proceed, shall be apphed 10 the ,ums secured h) this Mongage. wilh lhe excess. if any, paid
<br />10 Borrower. 1/ Ihe Property IS ab:mdoned hI Borrower, nr ,f Borrower faols to respond 10 Lender within 30 days from the
<br />date notice" mailed bv Lender 10 Bmrower that Ihe IIIsurance carner offeTli 10 sell Ie a claim for insurance henefits. Lender
<br />IS lllltOOflzed to collecl' and apply Ihe ""manee proceeds al l.ender's opllon euher 10 restorai'.on or repair of the Propcny
<br />or 10 the sums ,ecured hy rhlS MortgllBe
<br />Vows Lender and 8"rrower otheT\S"e agree In ""ll11g. any such application of proceeds to prlllciplll shall not extend
<br />or pc&tpone Ihe dll<: dale of Ihe monthly "lSlallmenls relerred to III para!!raphs ) "nd 2 hereof or change the amount of
<br />such IOSlaillllcnlJl, 1/ under paragraph 18 hereof the I'lOperl~' IS a~'llllled hI' Lender, all nghl. litle and interest of Borrower
<br />in "nd 10 any mourance pohclC'l and In and 10 Ihe proceed. thereot resulrrng trom damage 10 the Properly prior to lhe sale
<br />or acqui.ltlon shall P3" 10 Lender 10 the ''''enl of the sums secured hy Ihls Mortgage Lmmed,ately pTlor to such sale or
<br />>>ellul.ltion.
<br />6. 1'nMn"''''' MalnlelllUKe of "roperty: ....auholds: ('omtomiRlu_: Planned Unit l>evelopmen.., Borrower
<br />shall keep the Property in llood repair and .hall not com mil waste or perml! Impairment or deterioration of the Propeny
<br />alld shall comply witlt lhe prOVISIon. '.lf all)' leMe .f th.. Mongage IS on "leasehold, 1/ this Morlllalle 's Oil a IInil in a
<br />cond<lmilllum ", " planned "n.1 111"elnpmCI1I, !Iorrower shall perfurm all 0' 8orT<lwer'. ohhgatlons under thc declaratil)n
<br />or coveoallll ,realllll or IInvernlll/t the ",,,,,d<llmnlllfl. or planned """ developmenl. 'he hy.'aws and resulatiol1s 0.' the
<br />t,,;(mtkmURIIJm (ll planned unit devdopment. J.nd C(lJHtlllIt'nf (!t,Kumcms If it ,,"ol1dnminaum or planned ome .Ievclopnlcnt
<br />1100 .. OM(;u\Sd by Borrower and ro.:orded Illllelher 'hllh IhlS Mort~agc. ,he em'cnant. ,HltJ a!ln:enlCnh ", wch rider
<br />.hal) e,. IU(;QfpOnled 1010 and shall amenu 0""] '"PI,lemellt rhe covenants amf ag'eemenls ..I th" Mortllage as If the rider
<br />L wefe a pan heroof
<br />1. ..,...~ af IA-.ro s..'ut1fy. If Uorw\\-t'r '.,Is Ii' I'""fnrrn Ihe .,welMnls ""1.1 aweemenl. ((",Iallled in Ih"
<br />Mortll3fj!f. I,r If llll)' ,<<;tlon 0' pll'ceedlnll " ,."l"lrucrK'erf which rn'!l'rially .tfe.:l, lender's ".Cere<1 in Ihe Prnperlv,
<br />If'M.:tvdml. t,",t n{'~ hmued to. rmlll'C'fl' dOf11l1m. Ill~HI\"t'nL:\'< rude ('n~nf\.'r.merll. I\f arran~ctnent\!i tlr rrr~cct"din.~ 11\\101\',", a
<br />~~krHpt l.lr dCl.:cdcHt, fhen I.r.mkr at I ender',> !ipllon. 11'"11\ 1101".:e In Bnrrp,^t.~r, "liH make '11h.:h at'Jlt~al'ancc', dl'''Uf~t' 'lh:h
<br />\Ufflio lOM ~a<<c '1.<<.;h tM.:lhm ~i\ l.fj 't)f~.-e""'IMY (n pn>lCt"( 1-ltlnder'\\ Infeft"'.t. JlWllldllljl. hut nnt fIf1HH'~d ht, dl~bur~ement l)t
<br />f"'.&!I~nflA~ ~lfn"Ht1'" 1~C'" .HH:~ l'ntry <.I~'l1tH tilt' PIOJ~>I'" tn 1Thlkc (('p.w" It f clldt'r r~__(pnl~'d tnl"!b1a~~' Ill"U',Il1U~ .t~ .\
<br />l1'fH!;IM'~'1 ;\1 nh,filli~ lht: Inil" \t:\ ur~'d h., lhll\ "1\li'I!4;J~~ BI'II"\"l" ,h.I:! Il+~'\t I~W i1h'm!\111l'J, rC"lIllt~d :11 maH~Lllll \l.h:h
<br />~nli$l!filrM.(, In df~"t I i:n!ll "Ih'tl ,InW ,'1'1 !hr "C:quIH-rnefll lot ".;~d\ 'Iltl,ll,lHd' ~I:'ffnrn:tli.', nl\I,1l1dflrltC \\,Hh 141'1 \tl'.\((,'~ ;lnd
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