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<br />~2-- taU~95~
<br />Uh`t,t Coventnxrs. Borrower and Leader covenant and agree as follows:
<br />- 9„ af-Pt!lnellnd aatd~ Ialetsst. Borrawershallpromptly pay when due the priecipai of and intrresx on flit
<br />iadie}mxineas avislertoed~.by;xhe Note, prepayment and Late charges as provided in the Note, and the grincipal of and interest
<br />ab any Future Advatnces seeurrdby this Mortgage.
<br />2. Flsads for Taaeaant! 3wwettece. 5abjecrto agplicable. law or to a written waiver by. Lender, Borrower shidl pay
<br />to Leader oa ibe Say monthly iastnltaaenis of pt'inckpal. and interest are payable under the Note,. until the Note is paid in full,
<br />s sum (herein "Fundy") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgagc,.and ground tents on the I'mperty, if any, plus one-twelfth of yearly premium instalkments for hazard insurance,
<br />pttas ortrtwetfrh of pr`artypremiutn dnstalltnents fns mortgage insurance, if any, all as rett~tnatily estimatedmitially and from
<br />tiara to:tit~-6v Leader on the baiiis of assessrnenrs and bills and reasonable estimates thereof.
<br />The Fttnds shall be held-in an instittation the dep~its or arcaunts of which are insured or guaz~anteed by a Federal or
<br />state agency (indtlding:,Lendcr ifLender is such an-insiktution). Lender shall apply the Funds to paysaidtaxes, assessments,
<br />i>•~+w: pt'emitttm and ground rents.. Lender may not charge for so holding and applying the Funds, analyzingsaid account,
<br />orverifyiag>and campihag said s~~~rtiP,.ts and bills, unless Lender pays Borrower interest on the Fimds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mort&age thax interest on the Funds shall be paid to Borzower, and unless such agreement is made. or applicable law
<br />tegnires stich'intctest to be paled, 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 artd the
<br />ptirpixie for whkrli each debit to the Funds was made. `I'tte Funds are pledged as additional security for. the sums secured
<br />bgthis Mvrtgago.
<br />If the amount of the Funds held by Lender, together with the future mantltFp installments of Funds payable pronto
<br />the dne dates_of taxes, assesstneats, insurance premiums and grouad rents. shall exceed the amount required to pay said saxes,
<br />assessments, insurance premiums aad grouad rents as they fall due. such excess shall 6e, ax Borrower's option, either
<br />prampaly repaid. eo Borrower or credited to Borrower an monthly installments of Funds. If [he amount of the Funds
<br />txki by Lender shalt not be srrtTicient to pa} taxes, assessments, insurance premiums and ground rents as they felt due,
<br />Btrtrowerstiall pay eo Lender any amount ns:essary eo make up the deficiency within 30 days from the dare notice is mailed
<br />by Under to Borrower requesting payment tntreof.
<br />Clpoa paymem in fuB of aB sums secured by this Mortgage, Leader shall promptly refund to Borrower any Funds
<br />he[d by Lender. If under paragraph 18 hereof the Propeny is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply,. no later than immediately prior to the .ale of the Property or izs acquisition by tinder, any Funds held by
<br />Lender at the. time of applicatioa as a credit against t;te sums secured by this Mortgage.
<br />~. ;~ppYeatian of Payments. unless applicable law provides otherwise;, all paymetts received by Lender under the
<br />Note and paragraphs 1 and ~ hereof shall be applied by Lender first in pay,nent of amounts payable to Lender by Borrower
<br />utttlerparagraph ?. hereof, then to interest payable an [he Nale, then to the principal. of the Note, and then to interest and
<br />pri~ipal an any Future Advanrxs.
<br />4: Glatt Lteas. Borrower shall pay alt ;axis. assessments and other charges, fines and impositions aetributahle to
<br />Lhe Property which tnay attain a priority over this 11orgage, and leasehold payments or ground rents, if any,. in ilia manner
<br />provided under paragraph 2 hereof nr, if nor paid rn such manner, by Borrower making payment, when due, directly to the
<br />payu tttertwf. Borrower shall promptly furnish to Lender all notrces of amounts due under this paragraph, and in the event
<br />Borrower shag makes payment direc•Ity, Harrower shall prarnptly tumrsh to Iinder receipts evidencing such payments.
<br />Borrower shall protptly discharge any Ilea yvlticfc has priority over [his Mortgage; provided. that Borrower shag not be
<br />teginred. to discharge any shah lien so tong as &irrawer shall agree in writing to zbe payment of the obligation secured by
<br />such lion in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcenienr of such lien in,
<br />legal. proceedtxgs which operate to prevtat. the crztarcemcnt of the lien ar farfeiturc of the Property ar any part thereof.
<br />5. Nmrd Imrsance, Borrower shall keep the. =mprovements nrsw existing ar hereafter erected on the Property insured
<br />against loss kty fire, hazards included w'ithrn the ietm °extcnded wvenge", and snctz other hazards as Lender may require
<br />and in such atriountx and lot such periods as Lender may rrgwrc; pravit'ad, that Lender shall not require that the amount of
<br />' stichcoverage exceed fltat amount of coverage reywred ro pay zhr sums secured by this Mortgage.
<br />Tle insurance cattier providing the insurance shat! ht; chosen by Harrower subject to approval by Lender, provided,
<br />that such approval shall riot be unreasonably withheld. All prcrniums on insurance policies shall be paidra the manner
<br />provided under paragraph 2 hetwf ar, if riot paid in ouch maam:r, by Borrower making payment., when due, directly to ilia
<br />rinurarse carrier.
<br />Atl ttsutaticc policies and renewals thereat shall ire in form aereptable to Iindcr and shall include a standard mortgage
<br />clause. in favor of and in f'orta acceptable to l.,ender. Lender s#tali have the right to hold the policies and renewals thereof,
<br />_ and Borrower shall promptly furnish to Tinder alt renewal notices and :all receipts of paid premiums. In the event of loss,
<br />Botrowashalt give prottyat notice to the insurance testator and Under. Lender may make praot of loss if not muds promptly
<br />by Bur;~iter.
<br />Ltnless Lender and Borrawu otherwise agree in writing, insurance pracecds shall be applied ro restoration or repair of
<br />the Pr.?platy damaged, provided such restoration .xx repair is eronomicslly feasible and ttte security of this Mortgage rs
<br />no[ tF.creby impaired If such restoration or repair is naz. ewrtami::ally feasible or 3t the security of this Mortgage would
<br />be imputed, ilia insuraricc proceeds shall be applied to the sums secured. by this Mortgage, with the excess, if any, paid
<br />ie Borrower: if the Property is abandoned by Borrower, or if Borrower faits to respond to Lender within 30 days from rho
<br />date notice is matkati by Lender rd Bmruwar t3;at ttze insurance carrier alters ra cattle a claim for insurance benefits, l,cader
<br />i&autharirxd io aollixtand apptyehe insurance praurds at Lender's option Hither to restoration ar repair of the Property
<br />or to the suats sainted by this tt4ottgage.
<br />lJnltss l.cnder acid: Borrower othuwisc agree rn writing, any such application of proceeds to principal sltatl not extend
<br />:ire poatpxm the due,date ofihcmonthly.installments<refeared town paragraphs l and 2 hereof or change ilia attwnnt of
<br />wch smt:lltncnts. tf:untkrparatlrapta 1f3hereaf the-Prapertysaaquired byLendet, ail right, titfeand interestof Harrower
<br />to and to ac~r insurance pdicicaand in and[o tlteproceeds thereof resulting from damage to tneProperty prier xo the sale
<br />or acgwsi(ion shaft ;.sass. to Lender tt zbe extent of the aunts secured by tilts tortgage immediately prior to such sale ar
<br />az:gttisiiian.
<br />e: ]!reterva93on: tai F1~raiteat~ce a# Property; I;etstboi~ Cotidotnlniumst Planned Utdt 1)erekrpmetits: Borrower
<br />>#tail Jeep the Property in goer( repair and shall not commit waste or ptrmit tmpairtneoz cr deterioration a: the Property
<br />.and shall cur-.tplq ><i±tc the: paovisiaas ofan?' lease if this ,rlcirtgage is on a iLasehoid. If this ?vfortgage is an a unit in a
<br />' c~?ndutnimuut ,rr a pianotil Hair development„ Botr~,~~ea staait perform ati xil Borrower's abhgations under the declaration
<br />ar covenants ,:reausg !,r en.ernrng the:. csrndcirti~.n::im or planned emit developntcnt, the by-taws and regulations of t:te
<br />condominrum oc p7anne:d uuet dcvetopitsesii, amt..:or:.titcaent da:uments. i#' a condominium or planned umt ztevclr,.pmertt
<br />:ides is c>txuted by Sarrover arMt recorded'2ogether =verb this Mortgage, tfte covenants and agreements of such rider
<br />shall bt imor~rtu~ mzo atat:.shatT amendand supp;emem. titccovea~nts amt agrecrnents_nt ibis Mortgage as if the tictCr
<br />we,^e a parr itareof. ..
<br />I 7, PrNatitxn of Ltotkr'a.sleCYtit,Y, If Borrower Earls to perform the covenants and agrecmcnzs orttamed in [hies
<br />Mot-tgsgc. o; d airy rciton ,,r prnceedzog., r am.nen,xd uhrch matetrally affects Lender's tntcte5i in the Property.
<br />M,;.tuding, Inrt not limizen [... cmrrent stoma:n, rn ~laea?cy, ~.:.v3eer3nrttarertt, tr arrangcixtentsar ptocecdings tnvoIiing a
<br />E.anitrups or Jrsx;:,nc ;tten Leraier of l.rtxlcr'r. op; or., apzrx r ,+.xr r,- l~orrnw~~r. mil ninke suchappearances, disburse such
<br />stur+a and robe such action ns is !te<zssarp to protect Lrndcr'~ .r trrrct, inn tilt ,g, but not limited ter, dishuraiauoat o.f
<br />cta~nntsFe aiturrnry's leas end trtry upon zbe 1',^eiparty ,n 13ta6c _~~azn. l` , ~++.ier requirri mortginsurance as a
<br />.~nd?tiott at rtial.x7g the kin sv~<uro..# }nj ti,rs ~f.~r.gay, Horn„~er s~„iI P-~y +3.e Premiui~~ reClarxrad to trlaialrin xurh
<br />sxtsut~f~x ire ctfeaY :aia} n:rih tuz#o as tip roquu¢taitt:z t ~ t,u:h arasueans,: t~rr~~;rt-rtes 1n ttetotdaaie µ7ihBorr.+wer's sad
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