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<br />84 - 006163
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<br />UNlI'ORlIf:'CO,VRNM'1li.' /3orT<>wer and Lender covenant and agree as follows:
<br />I. Payment,'llfohlncipal and interest. Borrower shall pr~mptly pay when due thc principal of and Intcrcst 011 thc
<br />indebtedness evidenced by the Note. prepayment and late charges. ~o; provided in the Note. and the principal (if find iHt~rest
<br />on any Future Advances secured by this Mortgage,
<br />2. Funds for Taxes aDd i_.......,.,. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />10 Lender on the day monthly installments of principal and interest arc payable under the Note, until the Note is paid in full,
<br />~ sum {herejn "Funds") equal to one-twelfth of the yearly taxes and assessments which may .atta~n priority over this
<br />Mortllllllec and ground rents en the Property" if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />pius one-twelfth of yearly premium iostallmenls for mortgage insurance. if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of aSW$Sments and bills and reasonable estimates thereof,
<br />The Funds 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 ii Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and app!y:ngthe 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 />permits Lender to make such a charE:e. BOifower and Lender mav 31:!ree in wririn2 at the time of execution of this
<br />M~rtg~it: that ii1i:.3rC-.;;a ;;)iI ~ht: Fundti ~haH he paid to Borrower. and l~njess sucn ag~eement IS made or applicable Jaw
<br />requires such interest to be paid~ lender shall not be required to pay Borrower 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 />purpose for whicb each debit to the Funds was made, Thc Fund, are pledged as additional security for the sums secured
<br />by this Mortgage
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground reots, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as. they fall due. such excess shall be, at Borrower's option. either
<br />promptly repaid 10 Borrower or credited 10 Borrower on monthly Inslallments of Funds. If Ihe amount of the Funds
<br />held by Lender shaU not be sufficient to pay taxes, assessments, i",wanee premiums and ground rents as they fall due,
<br />Borrower shaH pay to Lender any amount nec~s.s~HY W make up tht d.,'F~;t:. ":y within 30 c::"ys from ::he ~atc notic~ is mailed
<br />by Lender to Borrower requestmg payment thereof.
<br />Upon payment in futl of ail Sl!nh secured \',.,,' 'HS '\]O{l~.,~ l.ender shaH promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph IH hercvt the Property is sold or the Property is otherwjse acquired by Lender. Lender
<br />shalt apply, no later than immediately prior h> fhe "ale {If the Property or its acquisition by Lender, any Funds. held by
<br />Lender .t the tIme of application as a credit against the sums secured by thIS Mortgage.
<br />3. Application of PaymeB~ Unless applicable !aVl' provldes Dtherwise. all paymems received by lender nadei' the
<br />Note and paragraphs 1 and 2 hereof shall be applicd by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to intcrest payable on the Note, then tn the principal of the Note, and then to interest and
<br />pnncip-al un any Future Advances,
<br />4. Charges; Liens. BOITo\\'cr '..hJIJ pay .Ill liiXC~. ;'lsseSSmt'nts ,lod other ,....hargcs. fines and Impositions attributable to
<br />the Fropeny which may attain a pnonty ('!Ver thiS ~tongagc. and leasehold payments or ground rents. if any. in the manner
<br />proVided under paragraph 2. hereof or. .r not p.ud In such manner, by Borrower making payment. when due. directly tv the
<br />payee thereof. Borrower ,hall promptly fun",h to Lcnder all notIces of .mounts due under this paragraph, and in the event
<br />Borrower shaH make payment directly, Bornw.'cr ...hall promptly' furnish to Lender receipts ~videncing such payments.
<br />Borrower shaH promptly discharge any lien which has pnof!ty .:Jver this Mortgage: prOVided, that Borrower shall not be
<br />required 10 discharge any such lien "0 long lJ$ Horro\.\-cr shaH agree in wfl.ring tf\ rhe payment of the obligation secured by
<br />such hen in a manner acceptabie in Lender. O! :-.h<ll! in good f;~i(h contest sllch lien by, or defend enforcement of such lien in,
<br />legal proceedings whIch operate to prevent the ~nfon.;emenl of tht:: lien or forfeiture of the Property or any part thereof.
<br />s. Hazard Insurant'e'. Borrower shall keep the improvcIllenh now exi~tJng or hereafter erected on the ProperlY insured
<br />against l05s hy fire~ hazanis jnduclcd .wlthin the term '\~xtendt"d (overage", and such other hazards as Lcndci may require
<br />and in such amounts and for such pc-nods as Lender may ft:'quin:; {H,(\\'ldeJ, that Lender shaH not require that [he amount of
<br />such coverage .:xceed that amount of coverage re-qUir~d to pay the ~lIms s.ecured by this ,Mongage.
<br />The lUsurance carrier providing the insur<\fI-('c "hail he Lh{lSJ~.n ~y Borrower subject to approval by Lender: provided~
<br />that such approval shall not be unreasonahly withheld. All prermums on insurance polictes shall be paid in the manner
<br />provided under paragraph .2 here-ot Of. :f not p~:-d In such mauner, hy Bottowet making payment, when due, directly to the
<br />tns.urance carner.
<br />All insurance JX)hcies and ren~\\als Ihert:(lt ,~haH be in form acceptable tu Lenda::r and shaH include it -standard mortgage
<br />clause in fa\iOf oi and in furm acccptahk' 10 Lt~nder. Lender ~haH have the rigbi. to hold the policies and r~newais thereof.
<br />and Bcrro\\'et shaH promptly furnish to Lender -all renewal nOLH.:C'S and aH re<:eipIs of paid premiums. In the event of loss.
<br />Borrower shaH give prompt nO-Bee- to Ihe msur~nct,~ t;'arfj~f and Lender. Lender may make rroof of loss if not made promptly
<br />by Borrower.
<br />Un!~ Lender ;lOti Borrower o:hC't.....t~e agf,,~i: in wflting. in~ur;:U1ce pnxccds shaH be applied to restoration or repair of
<br />the Property damaged, pwv"led such re~toratlOn or repaIr IS economically feasible and the security of this Morlgage is
<br />not thereby impaired. If such fe~toration or ft:pair is not ~con-Qmi(:ally feasible or if the security of this .Mortgage would
<br />be impaired, the "'.urance proceeds shall be applie_1 to the swns secured by IhlS Mortgage, with the excess, jf any, paid
<br />to Borrower. If the Property is abandoned hy Borrower. or if Borrower ta!h to respond to Lender wjthin 30 days from the
<br />date notice is mailed by Leoder to Borrower thaI the insurance carri~r nff~~ In ..:..i."H~e ~ t.:h!~ f0--!" !!'!~~r.e..~c~ he...~efi~. L::~er
<br />IS authoriz.ed to collect and apply the Illsurance proceeds at Lender's opllon either to restoration or repair of the Property
<br />or to the sums seeUfed by this Mortgage.
<br />Unless Lend<:r and Borrower othe",ise agree III "filIng, any such applic.tion of proceeds to principal shall not extend
<br />or postpone the duC' date of the monthly imu:aHments relerred to in paragraphs ! and 2 hereof or change the amount of
<br />such msUllimelllll, If under pangrllph ill hereof lhe Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any ;""uranee policies and jn and to the proceeds lhereol resuliing from damage to the Property prior to !he sale
<br />or acquis.ttion .ball pass to Lender to the exte"l <1f tbe .ums secur"d by this Mortgage immediately prior to .uch sale or
<br />~tion,
<br />&.. ~~ ~ ~lam!@:~ cl Property; Lease!w!ds; Cu=domim~~; Planned UIiit IRyelopiii~~ BQHQwer
<br />shill ~p the nvptrty in good repair .and shaU not C'JIi!f!'lJt UoIi!Ste or permit impairment or det~io-ratinn of- t,~ Pro~y
<br />and ~U GQ-ffiP!)f with: tire pr{.wrnous of any lease if th~s. .Mcrtg~be is on a Itaiozhoid. If this ~tongagt: is On a uoit in a
<br />c~'ninlun' Of a pjannc4 umt development. Borrower- s.h~H .~rfQfm aU of Borrower's obligatiorJ.3 under th~ declaratiDn
<br />or coveoanUi creatlq or govermnt, Ihe c,,"domm;um "I' planned "Olt developmeut, the by-laws and re&uis,tiollll of the
<br />c'Qfldonlinium or planned uuit development, and constituent dtlCUmcl1is, If a condominium or planned unit development
<br />ridel: .io: ~ulll4 byllouow.and reconled together with this M.ortgage, the covenants and agreements of .sucb ridel:
<br />>ba1l ~. ilworpotalCd into and sball amend and supplement !.he COV\Ollants and agreements of thi> Mortgage as if Ihe rider
<br />WCf'fi ilp~ /mOll(,
<br />7. P~.1Ii LttIlIer. Stltarily. If Borrower lails 10 p"rform the covenants and agreements contained ill this
<br />lIim1.lIfie. Of i:I" liD'.llCtiM or rroceedilli i. "'t~nced whichrnalerwly affect. Lender's interest In the Prop.my,
<br />jm:.l~n&.. !xl! _l~ to, "miMnt domain, insoh,mt<:y, code enforcement, or arrangements or p_eedinlll' involvilll! a
<br />~rupt Of ~~t.~ then Lender ...t L-end-tlr~i$ ~)tlti{Jn~ upon Batiei':: to Borrower. may make such appeanu:l<t;-cs. dishurse- such
<br />._ .4IIlt. 18li;* ~~. ...:t"-,,, as .. ",,;;c~y Ivp!Vtl!<:' Lender'. mteres!. mdudil1i!. but uOl Jiml.led 10, di>ib~nt ol
<br />f'''~ at.li>{llel/'$ iw~ 'In,<! Colly . ,t~ thl> P"'9'<''':i' to mako repa'fl'. Ii L"nd<:r' required mortgage ,nsuran"" as a
<br />~9f.-4al(.~) .~)f H~~ flu:.. 1(MUl: ~-t-t:t1r.d b} tht$ .MuJ1:JaF'>. Don.owe:r 'l\h~H pay the, premiums r-eqmte-d i{"t !naintain such
<br />.l_m.futt~ t.itl ~.ff-eti milU weh t~ ~~1 i~ :rv.q__ulu;.(tWftt tnt 1iuch insurance- ~ermiuat~1i in >iu.'e-4/rdan~ with BOfn)we.r'~ and
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