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<br />8~~..t~~2(1~9
<br />L`vrnoi+t~iCovExexrs. Borrower and:Lendercouenantandagree as follows;
<br />1. Taymeat of Pr~dHtaad9aterest. Borrower shall -promptly pay. when due the principal of and interest:on'the
<br />indebtedness evidenced by ffie Note, prepayment and isle charges as provided in the Note; and the. principal of and interest
<br />_ aai an}' Future Advances secured 6~• this .Mortgage;
<br />1. Frieda for Toes and liasariiace..Subject to applicable law or to a written waiver by Lender, Borrower shall paJ
<br />to Lender on the dsymanthly installments of principal and interest are payable under the Note, until the 7Vote is paid in full.
<br />a attm (herein. "Funds"}:equal to one-twelfrh of the, yearly taxes and assessments which may attsin priority ores this
<br />Mortgage, and ground rents on the Property; if any, plus one-twelhh of yearly premium installments forhazard insurance.
<br />plus one-twelfth of yearly premium installmenu far. mortgage insurance: if any, alt as reasonably estimated initially and from
<br />time to time by Leader on the basis of assessments and 6ilis and reasonable: esrimates thereof.
<br />The Fupds shall-be held in an institution the deposits or accounts of which are insured or guaranteed' by s Federal or
<br />state agency (including Leader if Leitdee is stHch am institution}. Lender shall,appiy the Funds. to pay said taxes; assessments,
<br />insurwcx premiums and ground rents. Lender may ant charge. for so holdingand 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 />permits LendeY to make. such a charge. Borrower and Lender may agree in writing at the time of 'execution of this
<br />'Mortgage that interest on tht Fttnds shall be paid to Harrower, and unless such. agreement is made or applicable law
<br />tttirires. such interest to be paid, Leader shall not. be required zo pay Borrower any interest or comings on the Funds: 'Lender
<br />shag give to Borrower, without charge: an annual accounting of the Funds showing credits and debits to the Funds aitd the
<br />purpose for which each. debit. to the Funds was made. 7be Funds are pledged, as additional security for the sums secured
<br />by this Mortgage.
<br />1f the amount of thr Fttads hdd by Lender,.together with the future' monthly installments of Funds payable prior to
<br />the Eve dates of totes; assessments, ir~trancc premiums and ground rents. shall exceed. the amount required to pay said taxes,
<br />assessments; insurance premium and grou[td rents as they fall due, such excess shall be; at Borrower's option, either
<br />promptly.. repaid to Borrower or caxdited to Borrower on monthly installments. of Funds. ' If the amount of the Funds
<br />held by Lender sha1E not be sulTicieat to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall. pay to Le[tderanysmount necessziy to make up the deficiency W-i[hen 30 daVS from the date notice is mailed
<br />by Leader. to Borrower requoting payment thereof
<br />Upon paytaeat to fuB 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 as sold or.the Propctty is atberwise acquired by Lender, Lender
<br />shall apply« ito'iaxer Than itnmediatety prior to the sale of the Property or its acquisition by Lender, any. Funds held by
<br />Lendu at [hc trine of application as a credit against the sums secured by this Atongage.
<br />3. A~iieation d layweds. [3nless applicable law provides rnherwise, ail payments received by Lender under the
<br />Notaand paragtaplts d_and 2 hereof shall ne applied by Lender first in payment of amamts payable to Lender by Borrower
<br />u[tder,paragtaph 2 heteof. Them ro interest payable on the Note, then to the principal at ttic Note, and then to interest and
<br />.principal an arty FiuurcAdvances.
<br />4. CWge~ [Jens;` Borrower shall pay at! taxes. assessments and other charges;.fines and:impositions attributable to
<br />the Propertywhich mayattaio a priority over this'klortgage, and leasehold payments or ground'rcnts, if any, in the manner
<br />prtntidai tutder paragraph 2 iicreaf ar, if not patd an such mannee; by Borrower making payment; whtn due, directly ro the
<br />payee thereof: Borrower shall pramptl}° furnish to Lender all nutters of amounts due under this paragraph; and in the event
<br />Borrowtr shall'make payment directly. Borrower shall promptly trzrnis6 to Lender receipas evtdencing:such payments.
<br />Botrowtr shall promptly ditcharge any lien uhtch has prrority over this Mortgage; provide, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree m writing to the payment of the obligation secured by
<br />such hen in a manner auxptabk zo Leader, or sha11 m good faith cone+t such lien. by, or defend'enforeement of such lien in,
<br />legal praucedings which operate to prevent the cnfttrce[nent of the ilea ar forfetturc of the Prapetty or uny part thereof.
<br />5. ILsad ItaereststY. Horrower shall keep the imprirvenrents now :listing or hereaitcr erected on thc'Prciperry insured
<br />agaimt itxs by :fire, hazards inclined within the term "cstertded ravcragc"'.:.and atich otherfiazards as lender may: require
<br />and to stint atttatrnts and for such perxxlt, as :Lender may. require: prnvided; that i:eader >hati not require that the amount of
<br />such cowerag excaedtharamowu of coverage required to pa}• the sums secured Ery tMs Mortgage.
<br />'ilte ineurrwae cattier providing the insurance shall br chosen t5y Bnrrowcr subject to.approval by Lender: provsded,
<br />that seen approval shall not be uarear•ottably withheld. A11 prcmivrtts on insurance pt>iicies shall be paid rn the manner
<br />provided tmdet paragtapb 2 her~f or, iC nM pa[d imsuch mariner, by Borrower making payment, when.due. directly. to the
<br />insurance carrier.
<br />All insurance pofieics sad rertesvals ahcreof shall be in form acecptahte to Lender sad shall include a standard mortgage
<br />clause in favor of and. m forts acogrrable to i.endrr. 3;endet shag have the tight tn` hold the policies and rcnewals'thereu(,
<br />and:Horrowerahall promptly futeish to Lender all. renewal txotiu°s and all receipts of paid premium. Tn the event cr[ loss.
<br />Borrower shall give: prompt rwtece to the trtsuran~c carrier and l,cnder. Lender may make proii of loss tf npi made promptly
<br />by Borrrwer.
<br />F3nkas Lender attd Borrower otherwise agr« rn wrrtrng. insurance proceeds shall be applied to restoration or repair of
<br />the' Property damaged, pmvtded such restaraxion or repot is economically fcasibte and the .ucurity of this Mortgage rs
<br />not thereby-imparted. if such mtorauoa or repair is not economically feasible or if the security of this Mortgage would
<br />be. wtparred, the tawraatx prrocztds shall be applied to the surrts secured. bq this .Mortgage, with :he excess, if .any, paid
<br />w Borrower. If the Property is abanslotttd by Borrower, or if Borrower tails to respond to'Cxnder wrthin 30 days from the
<br />date-ttotiee is malted by Lendtr zo Borrower that the insuratce comer offers to settle a claim far insurance. benefits, I.cnder
<br />is auihorr~ed to coiktt and apply the irrsurarrrr proceeds at Lender's option either to restoration or repair of the Property
<br />or to tha sttmc sa:ured by thin Mortgage.
<br />Littkss Lenderattd Bottawcr otherwise agree m writing, any-such application oC proceeds to prEncrpal',shall not extend
<br />ar postpone Ihe'dtre ,late of the maazMy installments referred to in paragraphs i and'2 hereof or change she amount of
<br />such imtalltneais. If urttter paragraph 18 hereof the.Property is acgv:rcd liy Lender, nit. right, title and interest of Bor,-nwcr
<br />ir, and to aay'isrsnr~nce polrcics and in and [o the proceeds tlrereaf resulting from damagete the Property 'prior to the sale
<br />or scquisiiioa shall pass to Lender to the extent of the sums securiui by this Mortgage.. immediately prior to such' sale or
<br />acquiaitioa.
<br />~ heseevatian and lfaiwtcaattce of Property; [:easel[olds; Condominiums; Pbnned Unit 1)evelopmenls. Borrower
<br />shat} keep tht Property ut good repair arrd shall xrat cotntriit waste or permit smpairmea[ or dereriorauon of the Property
<br />and shsil comply with the provisrons of any. lease if this Mongagc ss nn a leasehold. If this Mortgage is on a unit in c
<br />vroadominium or a planned tutrt devetopttrent; Borrower shall pertbrm ail of Borrower`s oblsgations under-the: declaratron
<br />or eoveosnts creating orgaveraing the. caadommwm ur planned unit doveiapment; the. br-laws andregulations of the
<br />cond.+mi,tiun; or pia,rned unit development; and croostituent doeurrenis. If a cnndaminiumnr "planned unit. development
<br />rider rs eznuted by Borrower and recorded tckgrther with this''~fortgage; the covenants a,nd agreements of xteh rrdcr
<br />chsll be inxrorparatcd istto attdshallamcndand suppisment;thecavenantsaitlagrcementsof this Mortgage as if the rider.
<br />wtrr a pa.~t heccof.
<br />?. Trelertlee ! I Lcgd2r'• 4CUrrNy, tf facsnou+tt: fasls..to prrforht. thy. covcnantr and agraements. ccmtarned in this
<br />Ncxtaage. ~x .f ars3 A.Si.ur ;,* procecdrtrg is camincttced which materially ~itects Lender's interact is the Prapetty,
<br />±nclxrdiay. twt :~,t iam,rc<i to. tmi ncrtt domain; rns4ilvtncy; Bade enfo-cament,or z>•-angementt. oc pnzezedings invaivrrrg a
<br />'stnkrupt or da:ec',er:t. stxn i.et:de::x~i Lesidtr`soptfts~^. argon -trKice', Bonc•+'c r,^.sa}'.make such appearanees •'•sburs,: such.
<br />toms and take ltKh AC7rep :e.. ;i re~cXSatj: tQ pr,X?tCC.. I.ena.ier'c in,CteSE,.lf?iaihiirtg, 17t'ft no[ littered tr,,.:Sf un, c;ii¢Rt of
<br />tzas4xxa?~te huc~tM=~s Lets a.~1 e~x;ry aporr ;4st Propcgrv m Make ~r. v. if I ender t~^gt:cr e<i mJrt$zgc m, r::::cr n~ n
<br />- z3stinn .• of ay>kma the facia vr~uret3 ^~' +Sus Mctr.fLa;,. g~._.,.=wen ti,:+fitss~ hhc pa'cmiurrs teyuired tit. rnrvnt=saa such
<br />%aaurance :n etxs :into ~urh tirsne ~. th:, resluzrttrsenit~r _a-5 ,;r..ranco Ec +r ta~Yesih.:~ces*rdaa~~ wifTM IY..,r:. ~.. , a.ud
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