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<br />34 -- 006835
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<br />UNifORM COVI!NmTS. Bo-rrower and Lender covenant arnt ~ lIS follows:
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<br />I. Pa)'lllellC ef PriadpIII and I8terest. Borrower shall. promptly pay 'when due the princip;tl of and intercSlon
<br />indebtedness evidenced by the Note, prepayment and late cbafICS as pnwided in the NOIe. and the princ:iplll
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<br />r on i F.= ~V~= :..~ by.t..~ =~ applicable law or 10 II written wan. "~
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<br />10 Umdcr on the day monthly installments of principal and intcrut arc payable under th!lNole.
<br />a _ (herein "Funds") equal to one-twcIfth of the yearly tu.1:lI and .-ItS. which '
<br />MortpIe, and around OCIlts on the Propeny, if lIBY. pIIlI _ t"MIfth of .yUdy premium.'
<br />plusone-twdfth of yearly premium ~ for mm1pIe iMurancc, if any. aU.. ...-i....,..
<br />time to time by Leader on the basis of arun_ and bills and I'CllSOlIlabIc ~tIiRof.
<br />The Funds shall be held in an instiflltionthe deposits or accounts of which _ il'llllH8Cl ClI"
<br />state agency (includin& Lender if Leader is such an iMtitmion). Leader ~ apply the Ftmds 10 ..,.,.Siid
<br />insurance premiums and grOlllld ren:.;, lender may not clwp for so hoidi~ and lIftIIYinI the FuacIs.
<br />or verifying and compiling said assessments and bills. unillss I..oacIcr pIlys Bormwllr.itItlmIst on*, Fimds_
<br />pc:mIits Lender to make 5IlCh a charge, Borrower and I..oacIcr may ~ in wnw, lit the time of
<br />Mortsage that interest on lhe Fundi sball be paid 10 Borrower. and ~s such ~is
<br />requires such interest to be paid, Leader shall not he rcqvimi to P41Y Borrower allY i--.st or ~
<br />shall give 10 Borrower, without charp::. an anRUa! accounting of the Fundi showing ct'Odits and .....
<br />purpose for which each debilto the Funds Wllli made. The FoodIi are pIedsed lIS lidditionaJ ~ for __.....
<br />by Ihis MorlpBC,
<br />If the amount of the Funds held by Lender" logether with the future ~y i~ of PuacIs plI,.tIi8pdar-
<br />the due dates of taxes, as_menls. insurance premiums and ground rents, shaU exccod the _ roquirod IOplIf'" t. ~;
<br />as_nt<l. insurance premiums and ground rents as they fall due. such excess shll1l be, at ~s optieR,.~
<br />promptly repaid 10 Borrower or credited to Borrower on monthly installments of FWHts. If dtc ~ of the If...
<br />hdd by Leader shall not he sultiQcut to pay taxes. _ts, insurance premiums and ground rents .' they fall&,'
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days hum the date noticle ilraded
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this MOrlgage. Lender shlI1l promptly refund to Borrower lift)' FuacIs
<br />held by Lender. U under pllflllrapb I Ii hereof the Property 1$ sold or the Property is otherwise IIcquired by 1..oacIcr. Lader
<br />sbaI1 apply, no later than immedialCly prior to the sale of the Propeny or its acquisition by Lender, any FuacIs held '"
<br />Lender at the lime of application as a. credit against the sums secured by this Mortgage.
<br />3. A.ppliClldllll ef "'IBCIIIIs. Unless applicable law provides otherwise. all payments received by Lender under the
<br />--------roOiC :uJl1 paragraphS I :uJl1 Z hereot sllall be apphedby Lender first IP payment of amounts P41yable to Lender by Borrower
<br />under parasnph 2 hereof, lhen to inlerest payable on the Note. then to the principal of the Note. and then to intenat and
<br />pnncipal on any Future Advances.
<br />... C1uIrps; Lkns. Borrower shall pay all lax",. a,sessments and other charges. fines and impositions attribmabJc to
<br />dtc Propeny whic:b may attain a pnority over this Mortgage. and leasehold payments or ground renls. if any, in the muaer
<br />provided uoder paragraph 2 hereof or. If not paid in such manner, by Borrower making payment, when due, dirccdy to the
<br />payee thereof. Borro\\o-cr shall promptly furnish to Lender all notices of amounts due uader this paragraph, and in the eveat
<br />Borrower shall make payment directly. Borrower ,hall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided. that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to lhe payment of the obligalion secured by
<br />5IlCh lien in a manRCr lICCeptable to Lender. or ,hall in good failh conlesl such lien by. or defend enforcement of such lim in,
<br />Jccal proceedings which operate to prevent Ihe enforcement of Ihe hen or forfeIture of the Property or any part thereof.
<br />5. H-.l1~. Borrower shall keep the Improvement' now existing or hereafter erecled on the Property insured
<br />aaaiaat 1055 by fire. hazards included wllhin the term "extended coverage". and such other hazards as Lender lOuy require
<br />and in such amounts and for such periods as lender may require; pro\'ided. thaI lender shall not require that the amount of
<br />such coverage exceed thai amounl of coverage required to pay the sum, >ecured hy Ihls Mortgage.
<br />The i_ranee carrier providing the insurance shall he chosen by Borrower subject 10 approval by Lender: provided.
<br />dIlIl such approval shall nOl he unrcuonably withheld, All premiums on insurance policies shall he paid in the muaer
<br />provided under parasrapb 2 hereof or. If not paid in such manner, by Borrower making paymenl, when due. directly 10 the
<br />iDft!UCC carriCl".
<br />AI iuurance poI1cies and renewals thereof shall be: in form acceptable to Lender and shall include a standard monpge
<br />clause in faV01' of and in form acceptable 10 lender. Lender shall have lhe righl 10 hold lhe policies and renewals thereof.
<br />lIacI Borrower shall promptly furnish to lender all renewal nollCClS and all receipls of paid premiums. In the event of Joss.
<br />IIorrowcr shlI11 give prompt notice to Ihe insurance carner and Lender. lender may make proof of 1055 if nOl made promptly
<br />by 1Iorrowcr.
<br />U" Lender and Borrower otherwise agree: in wriline. insuranc.e proceeds shall he applied 10 restoration or repair of
<br />dtc I'ropcny damaecd. provided such re6tOrallon or repair is economiully feuible and lhe security of Ihis Mortgage is
<br />IIOt tMrUy impaired. If sucll restoratloo or repair is not ecooomically feasible or if the security of this Monpse would
<br />be impaired, tile i_lIltCC pt"OCIlCds shall be applied to the S\IfRS secured by thIS Mortgage. with the excess. if any. paid
<br />to Borrower. If the Property is abandoned h)' Borrower. or it Borrower fails to respond 10 lender within 30 days from the
<br />date lIotice is mailed by Lader to Borrower Ihat the insurance carner offen 10 settle a claim for insurance benefits. Lender
<br />is audtoriMd to coIJoct and apply the insurance proceeds at lender's option either to restoration or reP41ir of the Property
<br />or to dtc _ secured by this MortptC"
<br />U'" Lender aDd Borrower otherwise agree: In wntmg. any such application of proceeds 10 prmcipal shall not eXlend
<br />or poItpODll the due date of the monthly installments referl"Cd 10 in paragraphs I and 2 hereof or change lhe amount of
<br />IIUda imWItl1Cll13. If uadcr pIIlI"lIIrllpb III bcreof the Property is acqUired by Lender. all right, title and interest of Borrower
<br />ill lllIIl! to aay illSlll"ll_ policies and in and 10 the proceeds thereof rcsullins from damage to the Property prior to lhe sale
<br />or ~ sbaI1 P4ISS to Leader to the ext.enl of the .\IfRS secured by Ihis Mortgage immediately prior 10 such sale or
<br />llC ,uilitiClo.
<br />6. .......d.ll... M"'III_~ ef Pnlpctty; LI_ILalda; Csad"lIRIlIi-. I'IMIMd Unit On............ Borrower
<br />IIalIIJ keep dtc Propeny ill aood repaU and sbaI1 not ~ waste or pcrmlt impairmenl or deterioration of the Property
<br />_ .... c:ompIy with the provisions of U1Y Ie.- if Ihlll Mortsage 'S 00 II leasehold. If this Mortsage is on a unit in a
<br />~i..;um or a pIMOcd unit developmel14. Borrower .hall pcrfOl1ll all of Borrower's obligations under the declaration
<br />or _111I11III11 UMtilll or pverniftg the condominium or planned Ilnil development. lhe by.laws and rellulations of ,he
<br />ooMgmill~ or ~ unit dcvcloplneot. IInd coMtituc:m documenls, If a condominium or planned IInil development
<br />.... its ~ by Bermww, and rGl:onJcd tc~ wtth Ih,. MorlpSC. the covwants and agreements of such rider
<br />.. be ~ into atllIl shall _~ and ~lMlIt the co_ts and aglWll1MtS of Ihis Mortgage as if lhe rider
<br />l - a pm, hcnlof.
<br />. '7. P1o.........., LetIIIeIr's!lomlril)". If Borr_r fails 10 perform the co~aflts and lIgreemenls conlained in thi.
<br />~. 01' if lIBY ~ or ~IIC is commMCed which materially atl"Kl5 tender's inlerest in lhe Property.
<br />~. but 11m Iilmted 10. emiMllt domain. insolvency. cc>Ge l.'nforcemenl. or arranttemenls or rroceedinlP ,n"Dlvine a
<br />~mpl or ~I. IIwn I~ al t~'8 option, upon notl(;e In 8orrower. ma\' Illake 8uch appearances. J"hune .uch
<br />_ and tw such IIl;tWll . i. __y to prOlflCt Lender'. IOlore8l. I nd ud,", , hul no' Iinllllld 1<'_ disbursement oj
<br />r~ at_y', t_ ..all OlIlfY Ulp'>n the PropellY 10 lll..ke "'pa..', II Lender required m,"t~.I!C ""u,"m;l.' ., "
<br />c~lt_ ot malftlli: 1M Ioa,. _uted b:: II". MOI"1A\"F. 8o'I<''''.er .11011 P'Y Ihe rrem'U1m ''''I , me,j ", ,,,,,inl'lIl "Kh
<br />_a_ in e~t unlil <..el, lime as lhe n:quilcnwnl for ,uch onsuran('c 'ermonal<" In 'ccNdalh'C w,'h 8,'rrowe.-' and
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