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<br />Umfonst Covsv,trtrs. Borrower and Lender covenant and agree as follows:
<br />1. 1Payrnoat of Principal amI Interest. Borrower shall promptly pay when clot the principal of aad intermit on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Fttture Advances secured try this Mortgage.
<br />2. Tibn~ Ior Tans and Yosnagmen. Subject to applicable law or to a written waiver by Lender, Horrowee shad pay
<br />to LetrdPS on the day manthlp installments of. principal and interest are payable under the Nate, until the Note is paid in full,
<br />a axsm /beret -••FL.~.is!h ~ gal to ~~^.A-t!3SIfL~f ~f tit y~rly ta.:~ and a sam.mrs uh~h ~sy att~yn_ prinrity avtr this
<br />Tsiortgag~, anti grn€md-rents on-the Property, if any. plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus ©n~ta=eitth of yearly premium installments for mortgage insurance. if any, al3 as reasonably tsiimated initially and from
<br />time to time by Ixnder on the basis of assessments aad bills and reasonable estimates thereof.
<br />The Fumis shall be hetif in an institution the deposiffi or account, of which are insured or guaranteed by a Federal or
<br />state agency fTxluding Lender if Lender is such an iastiiution). Lender shall apply the Funds to pay said taxes, assensrnettffi,
<br />i~~~ premintas a~ greund rants. Lender may not charge ter so holding and applying the Funds, analyzing said acoou~it,
<br />or verifying and compiling said assessmertta and trills, unless Lender pays Borrower interest on the Funds and applicable taw
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing aL the time of execution of this
<br />Mortgage that interest an the Futtds shall be paid is Borrower, and unless sttvh agreement is .made ar applicable taw
<br />tequres wch interest to be paid, lender shalt not be requited to pay Borrower any interest or catalogs on the Funds. Letxler
<br />~sall give to Bottnwer, without charge, an annual accotmiing of the Funds showing crediffi and deIaiffi to tits Funds and the
<br />' ~ €or whsvh each debit to the Ftmds was made. The Funds are pledged as additional security for the sorts secured
<br />by this Mortgage.
<br />%f the amount of the Funds held by bender, together with the future monthly instaiiments of Funds payable prior to
<br />the due dates of fazes, asstssnunffi, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />aasetmtents, inuurance premiums and ground renu as they fa[i due, such excess shad be, at Borrowers option, either
<br />prarngtly repaid to Borrower oz credited to Borrower on monthly installments of Funds. If the atuotmt of the Funds
<br />Tread by Lender shag not be sufficient to pay taxes, assessments, insurance premiums and ground rants as they fall due,
<br />Botrmver shall pay io Leber any amount necessary- to make up tbe deficiency within 30 days fram the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment itt full of all sums sectued by this Mortgage. Lender shalt promptly refund to Borrower any Funds
<br />hekf by Lender. If trader paragraph Ig hereof the Property is sold ar the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds field by
<br />t.eader at the time of application as a credit against the sums secured by this Mortgage.
<br />3, Appllcadon ~ Pay®~ts. Unless applicable law provides otherwise, all payments received by Lettckr tinder Eke
<br />Note amt paragraphs t end 2 hereof shad be applied by Lender flat in payment o£ amounts payable to Lender by Borrower
<br />under paragraph ?hereof, thin to interest payable on the Note, then to the principal of the Mote, and then to interest and
<br />principal on any Future Advances.
<br />d. Charged fie. Borrower shall pay all saxes, assessments and other charges, &nes and impositions atvibutable to
<br />the Property which may attain a priority over this Mortgage, and leasehold pag-mettts or around rents, if any, sA the tnanner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall prom, fly furnish to Lender all notices of amotmts due under this paragraph, and fn the event
<br />Borrower shall make payment directly, Borrower shall promptly €urnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has prior"sty over this Mortgage; provided, that Borrower shall n'' `;:
<br />required to discharge any °~~ch Tien sa long as Borrower shalt agrce in writing to the payment of the obligation secured h3'
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such Ilea art,
<br />izaa' p ~~'i..~ v....c...,~.a•e m pr:°ent .,e en£or«menr of the I.er. or forfeiture of tie Fropa :y ~. aty part t}t,,.°":f.
<br />5. lid Issnrattte. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />againsk Toss by fire, ha2$rds inetuded within the term. "extended coverage", and suvh other hazards as Lender may require
<br />and in such amoun+s and far such periods as Lender may require; provided, that Lender shall trot require that the amount of
<br />srrcl3 coverage exss~tf that amount of coverage required to pay the sums secured by this Mortgage. -
<br />The insurance carrier providing ibe irtsurance shall be chosen by Harrower subject to approval by Lender, provided,
<br />that such approval shall not be unreasonably withheld. All premiuts on itsurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manozr, by Borrower making payment, when due, directly to the
<br />::~trat: ~ ~;~r.
<br />Alf insurance policies and renewals thereof sTtali lac in form acceptable to tender and shall include a standard mortgage
<br />clause in favor of and in form eceeptabk to Lettder. Linder shall have the right to hold fire policies and renewals thereof,
<br />attd Bttrrovrer shall promptly furn~h to Lender all renewal natives aad alt receipts of paid premiums. to the event of loss,
<br />Borrower shall give prompt notice to the insurance carrez and Lender. Lender may make proo# of loss i£ not made promptly
<br />by Botzower. -
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall he applied to restoration or repair of
<br />tbe Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired. I€ such restoration or repair is act economically feasible ortf the security of this Mortgage would
<br />be impaired, the insurance grocceds shall be applied to the sums secured by this Mortgage. with the excess, if any, paid
<br />to Borrower, l€ tbe Property u abandoned by Borrower, or if Borrower fails to respond to Leader within 30 days fram the
<br />date notice is mailed by Lender to $orrower that the insurance carrier offers to settle a claim far insurance benefits, Lender
<br />is attthtti~scl to soltect and apply rite insurance proceeds at Lender's option either to restoration or repair of tlu Property
<br />6r to LILE sums scouted by ibis Mortgage, -
<br />Unless Lender and Borrower ofhenvise agree Ta writing, any such application of proceeds io prit~ipal shall not extend
<br />or pasigone the due date of the rrronthiy installments referred eo is paragraphs 1 and 2 hereof or change the amount of
<br />srivh ir}sstatltttents. If under paragraph 1 & hereof the Property is acquired by Leader, ail right, tick and interest of Harrower
<br />in aad to any in.~iaaace ptsl`teies arad tff and to the procee~s thereof resulting from damage to the Property Prior to the sale
<br />or acgttisitian sha.Y pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
<br />acatrisition,
<br />$. Ptt~ervatina and Maintee of Properly; Leasohol~; Condotninintas; Plattaed Unit IDeveiapraents. Borrower
<br />shall keep the.Frogerfy is good repair and-shall eat commtr waste or permit impairment or deteaoraiion of the Property
<br />a~ shall vumply with Lire ptnvisfons of nay lease if this Mortgage is on a leasehold. ff this Mortgage is on a unit in a
<br />soadomiruugt or a glanced unit -development; t3csriower shall perfomr ail of Borrower's obtigauons under the. declaration
<br />or covenants rreatisg ar governing -the vondotiti~trnt or planned unit devetopinent, the by-laws and reguTakions of ttie
<br />eendominrum tii~• plattaad ttrutt dxvelnciment, atsd ccnstitt;ant d~umenis. I€ a eottdominfum or planned unit development -
<br />- rider is ezectiteii by Botxovter and recorded-together .with this Mortgage, the covenants and agreements of such rider
<br />ahaltbe incotgarated Tnto and shall-amend-atrtl-supplement the covenants and at: meta of this Mortgage as if the rider
<br />K'ere a part hereof;
<br />7. Ptniecrtion of leaders Security, if Hgrcowet fails to perform the covenanffi and agteeroenffi ecntaitied in this.
<br />aitsiartgage, or if any a~;tian or proceeding, ,is asmmeuced ;which materially affecffi Lenders interest. in the Piopetty,
<br />inoludiag, but ^nt liru'red to, zmicayt dotitain; Insolvenejt; ecidt enforceraant, or arrangements or proceedings. involving a
<br />taeaitntpt ar decadent, theh 1a[tdcr.at Lextder's option, upon nottee to Aarro'.:~r, may make such ;appearances, disburse such
<br />s~ and tek~such srr;M,-as necessazY to:prot~z Lcn$er's interest, insTL'ding. bttt not }invited to, disbursetnent of
<br />reasonalsle attorney's fees end ettiry upon.the Fmperty tp -make repairs. If Lander requited mortgage insurance as a
<br />condition o£ tttaking the teen s~nred by this- ktostgaga, Hbnower shall pay- the premiums required to maintain such
<br />insurance in effext ttntiT such tiros as the iegkiremant for stick insurance terminates III accordance with Borrower's and
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