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<br />Utatrtsxwr Covt=arRt+ts. Borrower and Lender covenant and agree as follows:
<br />1. gaY®1ey' of hl~al Inteta#. Borrower shall promptly gay when due the principal of and interest on the
<br />ittdebtetinem evidenced by the Nate, prepayment and late charges as provided in the Note, and the principal of and interest
<br />alt any Futtln Advances secured by this Mortgage.
<br />c. ... ___,• ,.xse x~, ~.~ w wn ,srgiye3 by tn_ndcr, Hanawer shall pat
<br />to Lander on tlae day monthly installments of pnnoipal an3 in[arest are payable under the Nate, uatif tt~a Note is paid in full,
<br />~ a arm €heneils °Fllids"} egaai to one twelfth of the yearly'::a.tes and assessments which tnay atta"sn priority over this
<br />CZ2 Moltgago; attd gtannd malts on the Property, if any; plus one-twelfth of :yearly -premium instalhmtits fart ha~lyd itssuraace,
<br />p,tis ame-hvelFtlt of yeai`IYpreirtitun instalhtients £ortnortgage4iisurat~: if say, all as re~sonabiy estimated initially and from
<br />~ tlrue cn tattle by Leedar on dre bash of assesststents end bilk;and masonabk estimates thereof.
<br />,~ ice-Pleads shall be held in ar! institittian the.dt~i:s or aceaunts of which are an~.xed or gts2santesd by a Fedsxal or
<br />~ state agetrcy €irxrtuding Leat£er if Lender is such an institution). Lender snail apply the Furtds to pay acid taxes, assessments,
<br />iitsuiaace premitatas and grotiad rents. Lender may not charge for so holding and applying the Funds, analyzing said alxount;
<br />or vr~fying audtismps'ling saidassessmen=g-atop bills, unless-Lender pays Borrower interest on the Funds and applicable".lave
<br />~ ptnmits Zander to -make Bitch a charge. Borrower atld Lender may agree in writing at the time of extxutioa -of this
<br />~ortgagc that interest tm .the Fu>i~ shall be _ paid w Borrower, sad unless stmh agreement as made or applit:aisle law
<br />txquares such an#etest to ire paid. Lender shalt trot be required to pay Botrawer any intense. ar earnings an the Funds:. Lender
<br />shtdi give to' Borrower; without charge, ten annxtal accounting of the Ftulds showing sredits and debits tr! the Funds atlcl the
<br />* purpose for which-each debit to the Funds was made. '[ate rands are pledged as additional setxrrity for the sumo sta.ttted '
<br />- by hortgage. - - - - - -
<br />If the amount bf the Funds held by Lender, tagedier with the future monthly installments of -Funds payable prior to
<br />th. due datesof taxes, assesslttents, ix,mlxran~ pnmiluns and ground rents, shall exc~ the amount required to pay said taxes,
<br />aa:sessmetus, insurance premiatns and grhltnd rents as they fall due, such excess shat! be, at Borrower's opfian; either
<br />plamptly repaid to Harrower !x credated to Borrower on monthly ir~xalknents of Funds. If the amount of the Ftmda
<br />bald by Leader shall not be sufficient to pay taxes. assessatlents, insurance premiums and grouted ants as they faH due,
<br />$ortcclwer sba17 pay to Lender any amount necessary to make up the defrcaency within 30 daps from the date notice is mailed
<br />by Leader its Harrower requesting' payment thereof.
<br />Upon payment in foil of all sums secured by this Mtsrtgage, Lender -shalt promptly refund to Borrawtr any Funds
<br />held by Lender. If under paragraph 18 hereo# the. Property is said or the Property is otherwise acquired by tender. Lender
<br />shali apply, !so later than imstlediateiy prior W the sate of the Property or its acquisition by Lender, any Funds held by
<br />Leader at the time of a~licataon as a credit against the same secured by this. Mortgage.
<br />3. Appiis~tos M Peyeseots. Unless apglicabk: law provides otherwise, alt payments received by Lender under the
<br />blare and paragraphs 2 tad Z hereof shalt be appFied by Lender Stst in payment of amounts payable to Lender by Borrower
<br />untfer paragraph 2 hereof, then to intet~st payable on the Note., then to the principal of the Note, and then to interest sad
<br />prindpal on any Futlue Advances.
<br />4. C.'; Leese. Borrower shalt pay all taxes, assessments and ether chazges, Sues and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, sad leasehold payments or ground rents, if any, in the manses
<br />pmds~si under paragraph 2 hereof or, if oat paid in such manner, by Bo?~~r making payment, wt~n due, directly to .:
<br />payee theeeaf. Bottower simx, prontptlp f!lrnisis to Letxler an notices of amounts due udder this paragraph, and in the evtffi,
<br />Borrower shall-make payment directly, Harrower shall promptly Furnish tc Lender tetxtpts evldertctng slrclr psytneltts:
<br />Borrower shall prtunptty discharge any lien which has priority over thss Mortgage; provided, that Borrower ells!! oat be
<br />x`GSFxxiicd to disenuxgs a,iJ aawu .emu a^°ai Iv,i~ w „°r.-rra:.~r ehl;.ll ayyee ut ':'r'L;n5 t^ r!s_ ewm 1}t gf tfir~ nFxii~at~sn _~CtlrEd 13Y--- _ -.
<br />such ties in a maa~r acceptallle to Lender. or shall in grid faith contest such Eien by, ar Mend sanforcemenr cif sad! lien its: ,
<br />legal proceedings which operate to preuent the enforcement o£ the-lien or forfeiture of the Property or arty pair thereof:
<br />S. €ittaard fasarattre: Boreawer-shall keep else ilnprovemems now existilrg nr hereafter erected on the Prapcrcy insured.
<br />agaittst.l~s by Sn; hazards uxduded.within tl~ term "extended coverage,. and such abet hazards as ietlder may require
<br />aced at! strdt amoums xnd for such pt:riods as Ler~r may regain; provided, that Lender shall fiat regain that the atnattnt of .
<br />such coverage exceed that aatotme of coverage required to pay the sums secured by this Mlsrtgage.
<br />The instuattce carrier providing tfle insurance sha[1 be chosen by Borrower subgect to approval tsy Lender, provrded;
<br />t!„at. h apptc~al s~-Lot be ~:.~.:e~stFrtalsly withllekt. sill premier on insur~nse policies shall he paid in -the matutet
<br />ptnvitled under isaragsapb 2 hereof or, it not paid in suds manner, by Borratver making paynxnt, when due, directly to the
<br />tO9lrranee Carnet. - -. - - - - -
<br />r'!#i i~,~ance pditao's aml rivals thereo# shall be in farm accegtabte ks Laurier and snail iadtsde a standard mortgage
<br />tdaltse in favor of anti is farm acceptable to Lender. Lender shall have foe right to hake the policies and re~waLs thereof,
<br />and Lorrower shall grotngtty faraiah to Linder all renewal notices and aH receagts of paid premiums. Ia the- event of kiss,
<br />Barrosver shalt give prompt notice to the insurance carrier and Lender. Lender may make prnot of kiss if rot tnacle pro=-'ny ly
<br />by ~srrower.
<br />Unless Lender and Bontnuer oihenvise agree in writing, insura:ce proceeds shall be appl'a~ to restrnaFion or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />lent thereby ititgaired. If such restoration or repair is sot ecanoaticaily feasible. or i€ the security of this Mortgage would
<br />be impaired, tine inetuance protxeds shall be applied to the sums secured by this Mortgage, with the excess. if any, paid
<br />to forrower, If the Pioputy is abandaa~ Izq 8arrower> or if Harrower fails to respond &i Leader within 3t3 days-from the
<br />date notice is lnatled by Linder to Btsrrawer color the insurance carrier offers to settle a daim for insuramx benefits; -Lender
<br />is authorizat W aoIkct and apply the insltrarloe grotxeds at Letsder'soptaan either to restoration or repair of-the Property
<br />or to the sltrns soured by leers Mortgage.
<br />Unitas Letlder and Borrower otherwise agtxx in writing, any such application a€ proceeds to prittcigal shall not estettd
<br />of gratptrtse the due date o£ the rnoathly insiallmen~ referred tv in paragraphs- 1 and 2 hereof or change the amoutlt ©f
<br />sods installments. if under paragraph 3 iT hereof the Property is acquired. by Leader; ail righE, title and interest. of Borrower jl
<br />an trnd.ta-any insurance ptaacies assd in and to the proceeds thereof resulting from- damage to the Property prior to the sate f
<br />or acgtt~ition shall to Lender to the extent of the sulats secured by this Mortgage inttnediately prior kr Buell sale ar
<br />' aei{'rrleityn3r - - - - - - -
<br />6. Prtos aed 1N +sf PropeAq; ~ ~wtdoaflntasmsi Plamteur'iir~ s7evehis. Borrower
<br />sha3f keep the :~ropetty oat good repair and stud! !rot summit waste or permit. impairment or ~ter'wration ~ the Property
<br />and shall cemnly wi;l! the pmvisilxls of any base if tllis Mortgage is on a kaschold. If this Mortgage is on a unit in a
<br />rnndontin:um or a plantt~3 unit devekrp~nt, Borrower shalt perform alt of Bocrawar>s oliGgations under the declaration-
<br />or covenants creating ar g±ven'niag the condominium ar planned unit development,. the by-laws atld tegit]ataons of the
<br />cnndominiura yr plashed emit dexdoptttettt, and constituent tmctunclsts. If a condominium or planned unit- development
<br />rider is eatxutat oy $arro~r and recorded togr with this blartgage, the coveswlnts-and agreevtents of such rider
<br />shall be itseorporated onto pod saa$ a®read sled sttpplemnni tttr cnYenartts and ageezfnettts a£ this A:ortgage as if the rider
<br />wire a part her~f. ,
<br />Priot~•t}aa of Lelatke+s Ste. If Horrocvrr fails to petfarm the trovenaltrs and agreements, contained in this
<br />Mortgage, arsf .any actisu! er proceadnng is cisrrrmcrrr~ which lnatnriatly affexts Lenr~r's itttoi2st is t8e Prapetty, ~'
<br />including, but not fixrsittt- W, emiaett} t: in alverscg: tilde en#o!`telsent, of arrattgemeats or ttr0tgs_involviag a
<br />hank-upt or detzdectt. rhea Zander at I.~ada's aptiaa, t!t*an notice to $arrawat; rosy malts such appearances; dislltlrse suelt
<br />stems and :eke such action as ~ t*y-ta prcxart i.endeis intQreEr, ia=lading, ,bat oat-limited to, disburse:ntnt of
<br />eeatmtaliie attor»ey's fees Htid entry, uptsts rite Propectq tv make:. reprairs. IF I:enrks' regilared mortgage insurance ss a
<br />coaditiort of rytykistg the to9n stxuxed by this. Mortgage, Harrower shall pay the ptemiurtss required to maintain such
<br />assurance iu eHeet tmtil,auch-time as t}te regotretiocrlr-:for such insurance teriainates in accordance with Borrower's and
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