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<br />U"IFO~~&'l Ubtrower and Lender covenanl an<1, agree as follows:
<br />I. Paymento(PrincipaJ and h.lerest, Borrower shan promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and tbe principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and In-sgrall€e. Subject to applicable !av:: or to a written waiver by Lender._ Borrower-shan- pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to one-twelfth or the yearly taxes and assessment. which may altain priilrity over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if a"y. all as reasonably estimated initially' and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof,
<br />Tne Funds snail be beld in an institution the deposits or accounts of which are insul'e(l or guaranteed by a. FederliH)r-
<br />state agency (including Lender if Lender is such an inslitution), Lender shall apply the Funds to pay said t"'e5. assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said:acc()unt;
<br />or verifying and compiling said assessmenls and bills, unless Lender pays Borrower interest on the Funds arid'appUcableJaw
<br />permits Lender to make such a charge Borrower and Lender may agree in writing :It the time 'of' 'e;;.ecutk~if, 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 Borrower any interest or eamingson the Funds, Lender.
<br />shall give to Borrower, without charge, an annual aecounling of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Mongage.
<br />lf the amount of the Funds held by Lender, logether with the future monthly installments of Funds payable prior ,to
<br />the due 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 fall due, sllch excess shall be, at Borrower's option-. e.ither
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the .Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due; .
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the dale notice!s mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment In full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender, If under paragraph 18 hereof the Property is sold or t~e Property is otherwise acquired by Lender, Lender
<br />shall apply, no la[er than immediately prior to the ,ale o( the Prop,,':' Jr its acquisiti"n by Lender. any Funds held by
<br />Lender at the time of application as a cr(:dit agalilst the s.ums 'iC\. ,. .' :lY this ,M.ortgaL"::.
<br />3. Application of Payments. Unless apphc..;.;,lc l~w pnJVH_-'l....; _'therwise. ~!! payments received by Lender under the
<br />Note and paragraphs! and 2 hereof shall be applied by lender first in paymem of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to imerest payable on Ihe Note, then to t~e principal of the Note. and then to interesland
<br />pnncipal on any Future Advances.
<br />4. Charges; Liens. Borrov..'er shall pay all {.lX~S. <lssessmL'nts and other charges. fines and impositions attributable to
<br />the Property which may altain a priority over [his ~Iongage, and leasehold paymenls or ground re!lts, if any, 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 />payee thereof. Borrower shall promptly furOlsh t<> Lender all notices of amounls due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrowcr shall promptly furnish to Lender receipts evidencing such payments,
<br />Borrower shall promptly discharge any lien whIch has priority over this Mongage; provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrow~r shalt agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, ('[ :-.hall in good faith contes[ sllch lien hy, or defend enforcement of such lien in,
<br />legal proceedings which operate (0 pr~vent th~ enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard Insurance. Borrower shaH keep lhe impro\'emenh no\\' exi~ting or hereafter erected on the Property insured
<br />against loss by fire. hazards induded withm (he term "extended 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 shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured hy this Mortgage,
<br />The insurance carrier providing the insurance shaH be ~hosen by Borrower subject to approval by Lender; provided.
<br />that such approval shall not be unreasonably withheld. All premIums on insurance policies shall be paid in the manner
<br />provided under paragr..ph 2 hereof or, If not paid in such manner, by Borrower making payment. when due, directly to the
<br />insuraoce carrier.
<br />All insurance policies and renewals thereOf ~hail be in form acceptdblc to Lemler and shall inc1ude a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lendl.:f ~hail ha\e the right to hold the policies and renewals thereof.
<br />and &rrower shall prompliy tl.lrlllsh to Lender all ren~\\.al nOtlc~5 and all rec~ipts of paid premiums. In the event of loss.
<br />Borrower shall give prompt nOliC~ W the insur .tncc .:afner and Lender. Lender may make proof of loss it not made promptly
<br />by Borrower.
<br />Unless lender and Borrl.....\\cr otht:rwlse agree in writing, insurance prO\:ccds shall be applied to restoration or repair of
<br />the Property damaged, pwv.ded such re,toratlon or repaIr is economically feasible and the security of this Mortgage is
<br />not thereby impaIred. If su..:h rcstoraHon or repair is nO[ cl..:onumi;,,:ally feasible (-"'f if the security of this Mortgage would
<br />be impaIred, the IOsurance proceeds ,hall be applied to the sums secured by thiS Mongage, with the excess, if any, paid
<br />to Borrower. If the Property IS aband,med by Borrower, or it Borrower lalls to respond to lender within 30 days from the
<br />date notice IS mailed b", Lender to Borrower that the insurance carrier otTers to settle a claim for insuranct: benefits. Lender
<br />is authorlzi;d to colleci" and apply the in~utalli.;c proceeds at Lender's option either to restoration or repair of the Properly
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Borrow~r otherwise agree In \\-flting, any sUl:n applicalion of pr\h:eeds to pnncipal shall not extend
<br />or postpone the due date ui the monthly instaiimcOts referred to in paragraphs 1 and 2 hereof or .:hange the amount of
<br />~lJch in.s!~!1m~nt~_ !f urrder p2.!'~graFh 1 S hereof ~he Property i~ ~cqu:rcd by Lender. ~n righ:. :itlc and interest uf BuffuWCl
<br />in and to any insurance policies and in and to ~he proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shaH pass to Lender to the extent of the sums secured by thi~ Mortgage immediately prior to such sale or
<br />acquisition.
<br />6-.. Pruen'ation aDd ~laiatenance of Propert,H Leaseholds; Condominiums; Planned Unit l>evelopments. Borrower
<br />shali 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 proviSions of any lease if [his Mortgage is on a leasehold. If this l\lortgage is on a unit in a
<br />condominium or a planned unit developmen.t. Borrower shall perform all 0f Bornn'\,'er's obligations under the dcdarat.ion
<br />or covenants creating or gO'lerning the condominium or planned unit development, the by-laws and rcgulatii,)ns l)f ~hc
<br />~ondominium or planned unit development. -J.ud constituent Jocumcnb. It a ;':i..Hlul!minium or planned unit ~k...'cIDpn~ent
<br />nder is e.'Xecuted by Borrower and recorded h)gether v.ith thiS MI"lftgage, tht: I..'o\'cnants and agrecmcnb ot ~uch fideI
<br />shall be incorporated into and shall amend alld supplement th~ \.:nvcnants and agreements of lhis Mortgage as If th~ rider
<br />were a part hereof.
<br />7. Prote('tioD of I.ender's Security. If Borrower fads [0 perform the covenants and agreements i..',)!1tain~d in thl~
<br />Mortaage, Of if any action or proceeding IS comme-nceJ which matc-riaHy affects Lender's interest i~ the Propt:ny.
<br />indudlng, but not limited to. eminent domain, insolvt'!1cy, code enfon:cmcnt. or nr rangemc:nts or proceed-lOgs invol\'lng a
<br />bankrupt \....r de\:~dent, then Lender at ~.tlnder's option,_upon notice to Ilo~wwcr. may make ~ll\..'~, '$ppCaLuK"'~~,. d,\.ow:-,l' \u\.'h
<br />:Slii1H i.lnd take s.uch d,tion ~u i5. llei,;t;S:iiifi,' iO Df(i-tcl..i Lc:mh.:r's Jt1le!'e~{, Hldw.hnc,. hUI fh'f llmlfed ill, dl,,-bws\:'m.,;nt PI
<br />rea!;,oniblc a.ltumc,';j. fees and. t:lilry upon. the ~Pmpcrly tu make rcpaif.'>. Ii I cf:dt.'f rt.''-l!l;n;J I1hlr\g..t~C llbUI<lI1l,'t' .\.\ .l
<br />-.:onditiwl oi rrmking th.,; loan -"e~:urcd by thlS \!ongitgc. BI.Hf,,)wl'r shall P~\Y the i)ICmHlm~ tnltHH;;.! l\\ m.,ini.tin ..u.. h
<br />m~ur..l\ce in dTed until 'i\h:h time a... the requirement for ~l1t..:h lOStll'an:,:c tcrrUlnatc\ 111 ,!C.;'\.lrdalh.:I,.' Wllh Born~w(;r>'" and
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