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<br />U!tait*axar f'uvart,ttvrs. 8orrawv attd Lender covenant and agree as follows: ~~.~.,. L) ~ ®~ ~ z~''
<br />- fl.. iPsysetit:otPtt~lp~!-a~Islere~. $orrower shall promptly pay when due the principal of and interest on. the
<br />imfebUxiness evidertcaad by the Nate, prepavraaent aril kale charges as provided in the Note; and the principal of and. interest
<br />' ~ oo any. Ftrture Advances sa>rured by this Mortgage.
<br />Z. FwiaterTaaaaaamd:Isnt[ace. S~tbjat to appkicable law or to a written waiver by Lender, $orrower shalt pay
<br />eoLerydedroa ttx.day montftiy inssalimrnts of principal and interest are payable under the Note, until the Note is paid in full,
<br />a stmt fltereia "Btrads'7 equal to one-twetffh of the yearly tares and assessments which may attain priority ovv this
<br />Moitgaege; and gratattd rents on the property, if any, pltn one-twelfth of yearly premium installments for hazard insurance,
<br />plus amatwelfth of yearly ptxmiuut itutailments for mortgage insurance, if any, all as reasonably estimated initralfy and from
<br />- rimeto [ime:by Lr~r an the basis of assessments and bills and. reasonable estimates thereof.
<br />'Tile Fends shell be herd in an institution the depasi~ or accounts of which are insured or guaranteed.. by a Federal or
<br />stareal;etacy fireclatdi..ng: Lendv if Lendv is such an institution). Lendv shall apply the Funds to pay said taxes, assessments,
<br />imttrtt~e premittttss and ground rents. Lender may not chazge for so holding and applying the Funds, araaiyzingsaid account,
<br />arveri:fying nerd compiling said assessmenu and bilk, unless Leader pays $orrawer interest on the Funds and applicable law
<br />perenibe Lender to make. such a charge. $orrowu and Lender may agree in writing at the time of execution of 4hk
<br />Mortgage that interest. on the Fonds shall be geld io $arrower, and ttnIess such agreement k made or applicable law
<br />requirea such interest to be paid, Lender shall not be required to psy Borrower any interest ar earnings oa the Funds. Lender
<br />shall gave to Borrowv,. without chargt, an annual acrnunting of the Funds showing credits and debits to the Funds and the
<br />purpose for which eac#t debit to the Funds was made. The Funds are pledged as addi4ianal security for the sums secured
<br />6y ibis Mortgage.
<br />If [hc amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
<br />tIu dtu; dates of taxes, asseumeats, ittsutz..ce premiums and ground rents, shall exceed the amount required to pay said lazes,
<br />assessntetite, insurance premiums and groan[" rents as they fall due, such excess sttaB be, at Borrower's option, either
<br />promptly repaid to Borrower or txedeied to i;oirowv on monthly instalkments of Fonds, df the amount of the Funds
<br />held blr Lender shall riot be sufficient to pa! taxes. assessments, insurance premiums and ground rents as they fait due,
<br />Bortasirer sha31 pay to Lender any amount necessary to make up the deficiency within. 3d days tram the dace notice is mailed
<br />by Leodu to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, Lander shall promptly refund to Borrower any Funds
<br />held by Lendv, If under paragraph 28 hereof the Property is sold ar the property is otherwise acquired by Lender, Lender
<br />siia$~ apply, no taro than immediately prior ro the sale of the Property or Its acauisitian by Lender, any Funds held by
<br />Lender at. the Mime of application as a credit against the swats secured by this Mortgage.
<br />3. Aoe of Partaeab. Unless applicable law pravidu athe:rwise, all payments received by Lender under the
<br />Nate and. paragraphs I and2 herea2 shall be applied by !..ender hrst rn payment of amounts payable to Lender by Borrower
<br />antler paragraph ~. hereof, then to interest payab}e an the Note, then to the principal of the Note. and then in interest and
<br />principal an any Future Advances.
<br />•€. L'Ifart~ LJes. Borrower shall pay all taxes. =assessments and other charges. fines and impositions attributable to
<br />the Property which [nay attain a priority aver this Mortgage. and fessetaald paymenes or ground rents. if any, in the mannv
<br />ptovidtxlundvparagraph 2 hetwf err.. if not paid. an such manner, by $arrower making payment, when due, directly to the
<br />payee therca#. Borraw°er shall promptly furnish to Lender all entrees of amounts due under ibis paragraph, and in the event
<br />Borrowv shall make payment directly, $arrower chalk promptly lumish io ixnder reaeipu evidencing. such payments.
<br />Borrower shall promptly disc`sarge any kiln which has pnarity over thin Mortgage: provided, that Borrower shall net be
<br />required todischarge any such lien scr long : 5 Borrawcr shat} agree in •.vntaug to the payment of the ubligatian secured by
<br />such lien in a mantty acceptable to icndet, or shall in goad faith c:antest such lien by, or defend cnforcetnent of such lien in,
<br />legal ptnccsdings which operate to prevent tree onforument of the !sera a,r foneawre of the property or any part. trieeeof.
<br />S. Haarard Ieaxaatrct. Borrower shat! keep the unpravemenxs new c+cisting t+r hereafter erc^cted an the property insured
<br />agairtat lass try fire, inaxards inclutdetl within the term "extended coverage`", and such other hazards as Lender may reyuim
<br />and in stub amounts amt far such pcrwds as [..ender may require: pr:,vaded, that Lemkr shall not regairc that the amount of
<br />stash r-avera>~ exceed that amount of .average rcgtured to pay the sums ucured by this i*4ortgage.
<br />Ztee itn[iranca carrier proriding vtoc insurance shall be chosen l,y &ierawcr suh{ett to approval l,y .Lender'; peavided,
<br />that such approval xhail net be unreasonatay withheld. All premiums an insurance palicics shall be paid in the manner
<br />provided under paragraph 2 hereat ar, if not paid in such manner, by Borrower making payment, when due. directly to the
<br />insurance; carries.
<br />Ail i~tarance policies and renewals thereat shad! be in form acceptabke to !.ender and shall raclude a standard mortgage
<br />clawe'ia favor of and in farm acceptable to Lender. !.ender shelf have the right is bald the policies and mneweLt thereat,
<br />and Hatxawer chalk promptly furnish to Lcndrr all renewal nuctees :end all receipts of paid premiums. In the event of loss.
<br />xrawtx shall give prompt notice to the insurance Carrier and Lender. under may make praa,i of loss if not made promptly
<br />lay Btnrawea_
<br />Unlit Lrntlt;r and Harrower otherwise agtte in wntztg. insxuance proceeds shalt be applied to restoration or repair of
<br />the Property tiaimaged• provided such restoration or repair is ecataomicalty feasible and the security of this Mortggge is
<br />net: thereby unpaired. if stacla restaratiaa ar repair is nt,t cconamically feasible or if the security of this Mortgage would
<br />be ianprued, the ittsttraita ptr,ceods shaft be applied to [he cams secured by this lortgage. mouth the execs, if any, paid
<br />to 8nrrower. if the Prapeny is.abaodoned by $orrawer, ar ii $orrowv fails to respond to Lender within 3(y days from the
<br />datguatice is ittaitedbyLtstder to 13trrrmvcr that. tare rtsrrramce Carrier Driers [o settle a claim for insurance benefits, I_under
<br />is antltorized to collect atx! apply tbie insurance proceeds at Lender's option eidter to restoration ar repair of the prapcrty
<br />ar m tits suits secured by tfois .Mortgage.
<br />Unleaa I.eauier and Borxoevcr otherwise, agttrre in wri4ing. any such application of proceeds to principal shaft not extend
<br />ar.:postpumetbe due.dytteofthe nx+ertl:ly insradlmentsreferred to in paragraphs !and 2 hereof or change the amauat of
<br />stidr inataltitients. Ff under' paragraph l8-biereo€ the property is acquired by Cellist. all right., rifle and interest of $orrower
<br />in:atal to aaxs iatsuraitce policies and in aaad. to the proceeds ther~eaf resulnng from damage to ihts Prc,~perty prior to the saic
<br />ar acgitiiibon shall peter to Leeulex to rite extent of the sums secured by this Mortgage immediately prior to such saic ar
<br />acquiaiticm:
<br />iS; Traaervatias:atai lNar at PropeRy; LeitaeA+aitis; Coneiaeniiafnms: Plfaned UttK Yhevelopmenta. Borrower
<br />shalt keep the l?ropert7r itt goad repair next shetit atoi caiamii waste ar permit impaitttaent or deterioration of the property
<br />and steals c:ompiy a ith the provisions of any feawe if this lsiorigage is on z leasehold. if dais Mortgage is on a trait in a
<br />a-cmduniinium ~=s a ptsuvnal unit development,. Borrawv shalt perform all of Borrower's abiigaCions under [he decdaraiion
<br />ar caveiaanu crtwtxng: or goverartg the toatdcitrinium ar planned unit development, the by-laws and rcgu&ations of the
<br />condaminsutn ar plaaixd~uetit,:develaptttent. -and c~anstituenr doeura,eats. ff a condominium or panned unit zlevelapment
<br />tamer as exteuuxi by Bturrcnsxt and reeatded together with. this Mungage, the covenants aixl agreements of .uc:, rider
<br />afiadt be sncorpx~atrat:iado and mtskll attisrtd a;t3 xupplr[gteraz the cavettan4s and agreemenu of this Marigagc :,s if Chu rider
<br />~~;rte a pars lu•:retef.
<br />7. 1'r+1.e:He~ of t.,er,iets's B+tewtttt'. lf' $arrower lads to perform [ire covenants and agreements ,^.ontamcd in this
<br />'MottY~, .'sr tt any attian ar prcxxorMing is caonuracttcesd which materially affscts Lender"s interest in the Property,.
<br />€reckwSng, "trot rasa limited 7xt »ttixipent t9omairto tnscrlvoricy, ctxle cafarce~n4 ar arrnngemerrts ar praceeditttts itivoivkng a
<br />Miatcrupt ar decedent, t^en l.er..i4~.at l„cadet's uptix,n,; tipt+n nottre to $artawcr, may make such apptarancvys., dislsursc sztcfi
<br />.near and tats .acre ;.aarra .raisq~+gary La pat:,tect t.er,dcr': :merest, :nc?trdaug„ Ewx aa,t limited ta, alisinarsemant t*f
<br />rtasrir,xlxic aitair,ey, ;-es zixt entry upon. the Property w teaks teprairs. )f !.,ender required uttartgage mtarartcc as .r
<br />~xidiucar :=i rteakang the tree scxtutr~ hyttris Marrgage; ttatra+rer sh~kt pay tl~ prerrciut,ts rcyuiraxl ra marntain retch.
<br />rnsrir saxa..io ctfrcE.. unit mode aeale. as ties rieatperernCrtt tau cca-l, irircaetaattx: terminates ire acxxxrdaa,ce with $atarrwets :acrd
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