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<br />8~~ i~Ct2262
<br />I3xt[+otttr CavexAt~tis; Borrower and Lender covenant and agree as follows:
<br />1. PtiyatenC of'Prlaclpaf and Interest. Borrower shall promptly pay when due the principal of and interest. on the
<br />- indebtedness evidenced by the Note, prepaymentand late charges aspmuided in [he Note,. and the principal of'aad interest
<br />on say Future Advances secured by this Mortgage:..
<br />2. Fmeda for Tat><es and Iaaurance, Subject to applicable law onto a written waiverby Lender, Borrowers shall pay;
<br />to Leader on the daymonihiy installments of grins#pa! and mterestare payable uader the Note, until the Note is paid in full,
<br />a stem (herei» "Funds"} egdal to one-tw•elfrh of 'tree yearly taxes and assessments µ•tich may attain priority.; over this.:
<br />Mortgage,,and ground rents an the Pivperty, if any; plus one-twelfth. cif yearly premium installments for .hazard insurance,
<br />plus one-taye#fth of yearly premitun installments-for mortgage insurance.-if`any, all as reasonably estimated initialty and from-
<br />time Yo time by Lender an the basis of assessments and bills. and reasonable estimates thereof:
<br />"the Funds shalE be held en an institution the deposiu br accaunu of which are insured of guaranteed by a Federal or
<br />state agency finduding Lender. if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,.
<br />insurancx premiums and ground renu: Lender may not charge for so holding and applying the Funds, analyzing said acconn,t;
<br />ar verifying and compiling said assessmens and bil#s, a»less Lendez pays Borrower interest on the Funds and applicable law
<br />permits Lender to make. such a charge: Borrower and Lender may agree in wntine at'the time of execution of this'
<br />' Mortgage. that interes[ on the Futtds shall lie paid to Harrower, and unless such agreement is made or applicable law-
<br />. requires:such interestta be paid; Lender shall not be reyuired to pay Borrower any interes, arearnmgs an the Funds. Lender
<br />shall give to Harrower, wiffioue charge; an annual accounting of the Funds showing crediu and debits to the Funds and thee.
<br />pur)x>se forwhich each debit to the Funds was made. The Funds arc pledged as additional security far the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender. together with she future monthly ins[allments of Funds payable prior to:
<br />the date dates of razes, assessments, insurance premiums. and ground renu, sha#1 exceed the amount required to .pay said taxes,:
<br />assestut[entx; insurance pretr[iums and ground renu as they tali due. such excess shall he, at Borrowar's option, either
<br />.promptly repaid to Borrower or credited to Borrower on monthly instailme»ts of Funds: If the amount of the Funds
<br />held by Lcttder shall eat be sufficient to pay taxes„ assessments, insurance premiums and ground renu as: they fall due,'
<br />Borrmvershall pay zo Lender any amouatnecrssary to make yp the. dehccncy within 30 days from the date notice is marled`
<br />by Lender [o Borrower regttestsn~'payment thcreot'.
<br />Upon pavrrunt"ia foil of all .sums secured by this- Mortgage. lender shall promptly.: refund to i3orrawer any Funds..
<br />lxld by 1,fader. If under paragraph l3 hereof the Properta• es wld or the Progeny is otherwise acyuired by Lender, Lender
<br />dull apply, na later than immediately prior to the sale of the Property or its acyuisiuun by Lender, any Funds held by
<br />Leader at the ume of application as a credit against [he sums secured tiv this fortgagc.
<br />3. 'A~iieatie~'o( Payeeatts. Unless applicable law pmvitles otherwise. all payments received by l-ender under the
<br />Note and paragraphs 1 atxl 3 herextt shall be applied by 1~ender first iri payment c?f amounts payable to lender Ray Borrower
<br />tender paragraph ?hereof. [hen so interest payable <;+n the Naae, thin so the pnncfpa{ at the Nate, and then co interest and
<br />pnt~[palon any Futttrc Advances
<br />4. C1inr(;e~Iiewa. Borrower shall pay .dL taxes; asscssmcnis andnther charges: fines and impositions attributable to
<br />tIx Property whielt msy attain a priority over tells Mongagc, aisd leasehold payments ar ground rents, if any, in :the manner
<br />previded under paragraph 3 hereof ar, if not paid in such manner, by Ilarmwcr making payment, when due, dirutly to the
<br />payee thereof- Barmwer shalt promptly furmslt as l.endcr ail nnucta ai amounts due under this paragraph,. and. in the event.
<br />Borrower shall make payment directly, Borrower shall , rompily furnish ta. irtnder receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has puanty over this lviartgage; .provided; that Bprmwer shall not tie
<br />mluircd to drsehargY any such lien ssr fang as Etcxrowtr shall agree in wtrung to the payment of the obligation secured by
<br />xuch lu[tia a manner acceptahk to l,etrrkr, or kltalT in gaud faith s;vnfrst such lien ray; ar defend enforcement of such hen ih,
<br />legal prexcedings which operate to prevent the tnforccme»t of the 1,eti or farfeituri: of the Property Ur any par[ thereof.'
<br />S. HuaNLwraaY. Borrower shall keep the irnpmventcros now t><+sttng or hereaftertrcctrd an the Property insured
<br />agates[ toes. try fire, hazatda ir[clttded within the term 'extended coverage", .and such other harards as lender may reyuirc
<br />attd m such amounu and for such pcno+is as Ltndcr may require; pr~..rdest, that tender shall not require that the amount of
<br />such coverage exctxd that amount of coverage required to pay tht sums secured by [his Mortgage.
<br />11te imurauce ca~~+rtr 4sroviding the ittsuratrrt chaff tie chose[ by Borrower subject ro approval by l.tnder; provided,
<br />...that such approval chaff not be unreaxunably withheld, :#fl'prrntiums on insurance palcics shall he ,paid in the rnxnner
<br />provided under paragrapti 2 hereof ar, rf tsar paid i» such manner: by Borrower making paymct[t, when due, directly to the
<br />insurance errrw,
<br />All imtirance policies and renewals thereof shall be is form rccrptablr to under and shall include a standard mortgage
<br />clause in favor of atuf in form acd:ptable to under.. under shalt Piave the right to hold th policies acid renewals thereof"; -
<br />and Borrower shall promptly furnish to under aI1 renewal ncaures and all receipts of paid. premiums. In the event of lass,
<br />Borrower shall give prampttwtice za the rnsuratice catricraud lender, I.endetrnay make pnxil of losx if not mede'promptly"
<br />by Harrower,
<br />Unleaa Lender aad Borrower otherwise agree in x~nung, insurance proceeds shall be applied to restoratio» or report of
<br />[he Property damaged, provided such restamuoa ar repair is eto»omical{y fcasibtt a»d the securtity of this Mortgage is
<br />r[ot ti[aerobv impatrCtl: if such restotattan or repair is not tcanamcal{y feasible or if the security of this Mortgage wcruid
<br />be itnpaircci. the mauramx proceeds shall Ue appliccf to the sums secured by this Mortgage, wrth al[e excess;rt any, paid
<br />to Borrmvrr. !f fix Property is aband~aned by Borrower, ar if` Borrwvcr fatly to respond to Lender. within 30 days from the
<br />date notice ;, mar#ed by L•rtder [a Borrower that the insurance carrier oSers to settle a cieim for insurance lsenefits, t,endec
<br />is authorvn; to rol#ect sad apply tfte. irtsuraacc proceeds at Le»der's option either to restoration or repair of the Property
<br />or to rheswtu scctired by plus 2Hurtgage.
<br />lrttkss under and Borrower othecwix agree in writing. any such appli;,atian of proceeds to principal siralC not extend
<br />or postpone-the due "dart of the nwnih#y insta[imc»u referred to in paragraphs f and Z hereof ar change. the .amount cjf
<br />such tnstallm~er[ts. ft reader paragraph l!I hereof the Property. is acquired by under, all right, true and interest of Harrower
<br />i;t and to any iaxurancepo#icves sad in artd to :he procuds. ihereaf resulting fromdamage to theProperty prior ro the sale:.
<br />or acywsiOan shall pass to Lender to [he extent: of the sums secured tsy this Mortgage unmediately prior to such xaic ar
<br />`aci~uicitian.
<br />b PeeservaMlow. atad `tau~tensncs of Propertp; LcasebolrL~. Candomin#ums: Planned Linn Ihvelopmrnu. -Borrower
<br />shall keKp the Property in good repair and shalt iwtcanunix waste or permit impairment or deterioration of she Properly.
<br />sad strati campty wiY3t the provixrorts of say lease ii tells Mortgage icon a feasehold. ]t *hs Mortgage is an a unit In a
<br />cam:lonxinitrm or aptanzted unit..devrfapmcat. 13orrowcr shalt perfarrt all of Barrowtrs obligat7ons. under the dtclaratign
<br />or cn~=ttuiis treating or 3avernirg the candamirnum ar planned unit development, the by-laws and regulations of the
<br />ciu>Lomcniurx or plaaaeai ~~njg devetopme»t, and canstittren: documents, if a condominium. or planned unit dtvtlapmcnt
<br />.rider ~.s csr vtctl by 8orratver sad recorded iagttntr with this Mortgage. i#it coaenants .and agreements c%f ssrch rider
<br />shai4 be :r[corporarcarl t»io a:pd shall amcad and supplement the cnvtnants and agreements of th[s ='vfortgage as if` rht; rider
<br />++erc a gar. bettor.
<br />'- Protection of L+t~far's $eeuifsy. If Bo[.*owtr fells ':o #+c arm the covenants and agrercme»ts cantaured m this
<br />Sto gage. or a arty .a.;uaa cxi proceeding is Commenced u,'u~} m• icrially affects Lender's mterc~st in the P°aptrtc,
<br />~n~ivd. g. bit rr~r tinra[td to,.rrstittc»t domatr., inac+iveniy. :,.~. n., r~:ureent. or arrangerrrents or prcx:ccdin,~s involvsug a
<br />?nasri:.-:s;.w rv Ue~ritent_ ~ht».l:tndcr at I.tnafrr's oprian; upon. nutr•.c:e.> Batnswtr. may make;such :<ppearai[ces, siisburse such.
<br />s;a^tx and :as^ su~c:~ g.ziaa acs. is aecassan~ to pt=stce[ Lsndtt`"; anzuest„ :ncluG)n~ but nut tinsirtd zv. drsbunr[nent of
<br />r^:as±~r.zt~lx o •crrncr`a gets and .entry upo,ri the. I'roperr}: ti? mareepain. ?! t.e»dar rtytrired rttprtgageinsur:arrtc ati a
<br />~rrmi c_ .. ..i :natn;ag rtat la9trr vec:catac: b7, thts Mcsrigagt, AcYn'awer ah~l rip tf*.t prrmsunts required r~r maiirtaan st?ch,
<br />-:s r r~s :n ,~,~.t unrrl €;zclt time as tfte reyairesx>,eat fs~r such rnsurxnse trrminatcs ;r. :acenrdancs 'woth 13ottYtu•~:'~ ;end
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