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<br />~~vS~u0484
<br />Utvrnt~r CavsWrsrrs. Borrower and Lender covenant and agree as follows:
<br />i. Payment of Principal and Interest Borrower -shall promptly pay when. due the principal of and interest on the
<br />indebtedness.evidenaed-by the Note, prepayment and late charges as providedSn the Note, and the principal"of and interest..
<br />on any~Future Advances secured by this Mongage. _ - -
<br />Z. Bdada-for Tares and Iownnte. Subject to applicable law or to a written waiver by Gender; Borrower shall -pay '
<br />to bender on fhe.day monthly itstallments of priricipai and interest ate payable under the" Note, until the No[e is paid in tullr
<br />a atuu,~(hetein "Funds") equal -YO one-twelfiti of the -Yearly- taxes and assessments. which may :attain .priority -over- this
<br />Mortgage,-and ground rents an the Property, if any, plus one-twelfth of yearly premium instaBmen[s for hazard insurance;
<br />plus one-twelfth ofyeazly premitrrit installments for mottgage insurance,. if any, all as reasonably estimated. initially.-and:fiomr
<br />fine m nine by Lender nn the basis of assessments and hilts and reasonable estimates thereof.
<br />7}re-Ftutds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender-shall apply the Funds to pay said taxes; assessments,
<br />insuraiice:premiums and ground rents. 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 law -
<br />permfis. Lender to make such a charge. $orrower and Lender may agree in writing at-the time- of execution 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 pav Burrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting"of the Funds showing credits and debits to the Funds and the
<br />pttrpose.for which each debit to the Funds was made. 71te-Funds are Rledged as additional security for the sums secured.
<br />by this Mortgaisc.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due data of taxes, assessments, insurance premiums and grot,nd rents, shall-exceed the amount required to pay said. taxes, -
<br />assessments, insurance premiuts and ground rents as they fall due, such e.ccess shall be, at Borrower's option, either.
<br />promptly repaid to Borrawer or credited to Borrower on monthly installments of Funds. - If the amount of the- Rinds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as. they. fall-due; -
<br />Borrower shall gay to Lender any amounf necessary to make up the deficiency within 30 days from-the date notice is mailed -
<br />by Leader to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mongage, Lender shall promptly refund w Borrower any Funds
<br />held by Lender. If under pazagraph 18 hereof the Propery is said or the Properq• is otherwise acquired by Lender, Lender
<br />shag apply, no later than immediately prior to the sale of the Properly or its acyuisition by Lender, any Funds held- by
<br />Lender at the time of application as a credit against [he sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to (.ender by Borrower
<br />under paragraph 2 hereof, then m interest payable an the Nate, then to the principal of the Note, and then to interest and
<br />principal an any Future Advances.
<br />4. Chargest Lietts. Borrower shall pay :di axes, assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground reins, if any, in the manner
<br />provided under paragraph 2 hereof or, it not paid in such manner. 6y Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish ro Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall mate payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any iron which has priorty over this Mortgage; provided, that Borrower shad not be
<br />rtqui[ed ko discharge anp such lien so long as Harrower shall agree in writing io [he payment of [he obligation secured by
<br />such lien in a manner acceptable to Lender. or shalt in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the property or any part thereof.
<br />5. Haxsrd Irtsuranee. Borrower shall keep the improvements nosy existing or hereafter erected on the Fraperty insured
<br />against loss by fin, hazards included within the term "rytended coverage`, and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may rtquirr; providetl, that Lender shall no[ require that the amount pf
<br />such coverage exceed that amount of coverage required to pay the autos secured by this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval b}^ Lender; provided,
<br />that such approval shall not t>e unreasonably withheld. ,41t premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 fiereof or, it not paid in such manner, by Borrawer making payment, when due, dvectly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause is favor of and in form :u:ceptuGlc is Lender. _ardr:r shall h' e the right to hold dtc policies and r :ewals thereof,
<br />and Borrower shalt prampdy furnish to Lander al! renewal notices and all receipts of paid premiums- in the event of lass,
<br />Borrowv shalt give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Untas Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />Chc Property damaged, provided such restoration or repair is ecenomicaliy feasible and the security of this Mortgage is
<br />not thereby impaired. If sw:h restoration or repair is not economically feasible ar if the security of this Mortgage would
<br />be imptttred, the insurance proceeds shall be applied to the sums secured by this Mongage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, car iE Borrower fails to respond to Lender within 30 days from the
<br />date.noiice is mailed by Lender to Borrower that the insurance carrier oklers to settle a whim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to resiora4on or repair of the Property
<br />or to the sums- secured by this Mortgage,
<br />Unitas Lender and Batrawec otherwise agree in writing, any such application of proceeds to principal shall oat extend
<br />ar pasigona the due date of the monthly installments referred to in paragraphs i and 2 hereof or change the amount of
<br />such instalments. If under paragraph ig hereof the Property is acyutred by Lender, ail right, title and interest of Borrawer
<br />in arxl.to any insurance prriieies and in aml to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acgeisition shag pass m Lender to the extent of the sums secured. by this Mongage immediately prior to such sale or
<br />acquisition.
<br />b. Ptgervatina and A•laiatenance of Property; Leaseholds; Candoroiniumst Planned L'nit thveMpments. Borrower
<br />shall keep the Pmpetry is good repair and shat! not commit waste or permit impartment or deterioration of the Property
<br />and shah conapty with the ptnvisions of any lease if this Mongage is an a leasehold. if this Mongage is on a unit is a
<br />condominium or a planned unit development, Borrower shall perform al! of Borrower's obfigatioas under the declaration
<br />ar covetranks creating 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 candamiaiutn or planned trait development
<br />rider rs exetirted by Borrower aril recorded together with this Afangage, the covenants and agreements of such rider
<br />sltaB be iacttrporattai iota atxl shaft antead and supplement the covenants and agrerttnents of this Mongage as if the rider
<br />wvne a part htnaof, "
<br />?. PcsdeeE6sa of I.andat's 5eturitp, If Borrower talks to perform the covenants anct agreements ccmtained in this
<br />lsliatt~sgps, or if any atiian or prcxxedrng iS commented which materially affects Lender's interest in the Fropeny,
<br />its-but not Bathed io,- erttirront domain, insulventy, cads-cnlarcament. or arrangements ar proteectings, involving a
<br />baztkruptor tiuctlartt tircn Letttiar at Lender's option, upon notice to Borrawer, may make such appearances, disburse such
<br />sumx- •rrd lake aloft tuition as is rtetessarY Kt pMiett leruler's interest, including, Mrt nut limited tu, disbursement of
<br />rt~s.attutsasy`s Lest and enttry upon r14t Property ht make repairs, If !.ender regtdred ntangage insurance as a
<br />ctsa-of making 'tEra ifaa•a lesvted Fry this Attmgagc, Bctruwmr stsalE }±ay flit prwmntrrts required to masntain such
<br />ituwraax in ttlett tuttil sttci. littxa< as the requireatem for stttlt irtsuranet terminates rn accordance wish Borrower's and
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