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<br />Uxraoaar fiovnntaarrrs. Borrower and Lender covenant and agree as foIDows:
<br />I. ]Paysteaf of Princtgal sod dsterest: Borrower shaA promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Nate, grepaytnent and tale charges as provided in the Nate, and Ilse principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />~. iranda for'Fttxes aael $esnxance. Subject to applicable taw or to a written waiver by Lender, Borrower shall pay
<br />to I.tttder an rite day monthly theta?tments of principal and interest era payable under the Note,-anti! the Nate is paid in full,
<br />a stmt ~tereirs "Ftrnda"i corral to one.twelfth of the yearly taxes apd assessments which may attain p»ority Ever this
<br />'.r£origage, and ground-rents an the Property, if any, plus one-twelfth of yearly premium ittstaflments for hazard insurance,
<br />pitta arse-twelfth of yearly premium instatirtrenis far mortgage insurance, if any, ell as raasar aSt;° mlimatett initially sad frtirn
<br />tIrnB to time by Lender on-tire basis of assessments and-bibs and reasonable estimates thereof,
<br />The Fatale shall be-held in an institu6tn the ~Jegasits or accortnta_ of which are insured or guaranteed- by a Federal or
<br />state agency €including Lender if Lender is seicir an institution}. Lender shall apply the Funds to pay said taxes; sssessments,
<br />iitgttrnpce prerttiurns and ~u~ rents. Lender ntay not charge for sa holding and applying the Funds, analyzing said account,
<br />or veri#ying and campiimg said assesarnents and hills, unless Lerr~ter pays Borrower interest on the Funds and applicable law
<br />ptrrriits Lemler to make such a charge. $orrmser and Lander may agree in w»ting at the tithe of execution a# this
<br />Mortgage that interest an flu Funds shall be paid to Borrower, and artless such agreerneat is made ctr applicable law
<br />tegttires such "rnterest to be paid, Lendtr shall not be required to pay Borrower any intetesf or earnings on the Funds: Len~r
<br />shall:gia toBarrowtr, w"sthaut charge, an annual accounting o€ the-Funds showing credits and debits to the Footle and the
<br />purpose-far which each debit to the Funds was made. 'I'tu Funds are pledged as additional security far the sums seettred
<br />by this Mortgage.
<br />If the amount of the Funds halt by Lender, tagelhe: with zhe future monthly instatlmtnts of Funds payable prior to
<br />- the due-dates of taxes, assessments, iffiurance premiums and ground rents, shall exceed the amount required to gay said taxes;
<br />aase~ments, insurance premiums aced ground- rents as they fait due, such excess shall be, at Borrower's optiors; either
<br />nromptiy repaid to Borrower or credited to Bormwer on maathty installments of Funds. If the amount of the Funds
<br />by Lender shall hat be sttffteient to pay taxes, assesstaeots, insurance premiums and ground rents as they fait due,
<br />Borrawtr shalt pay to Lender any amovat necessary to makeup the deficiency within 30 days from the date notice is mailed-
<br />6y Lender to Borrower regtte_sting' payment thereof.
<br />Upon payment in foil of all sums secured by this Mortgage, Lender shalt ptnmpdy refund is Borrower any Funds
<br />held by Lender. If under paragraph Ig hereof the Property is soi4 or the Property is otherwise acquired by Lender; -trader
<br />shall apply, no later than immediately prier to the sate of the Property or its acquisition by Lander, any Funds held hY
<br />Lander at the time of application as a credit against the stints secured by this Mortgage.
<br />3. APPlkation of Payurenfs. Unless applicable law provides otherwise, alt payrnertts received try Lender- under the
<br />Note sad paragraphs i and 2 hereof shalt tx applied by Leader first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />g»ncipsi an any Future Advances.
<br />d. Cksrgss; IJeas. Borrower strati pay all taxes, assessments and other charges, fines and impositions alt»butabte to
<br />the Property which may attain a priority over this Mortgage, and leasehatd payments or graurtd rents, ff any, in the manner
<br />provided Hader paragraph 2 hereof ar, if not paid in such manner, by Borrower making payment; when due, directly to ti+e -
<br />payee thereof. Borrower ~tait promptly famish to Lender all notixs of amoums due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Let+ber receipts evidestcing such pa}^°'~ts,
<br />Borro~xer shelf promgtIv dischazge any lien -which has priority aver this Mortgage: provided, that Borrower shalt hat bs
<br />required to discharge any such Lien so king as Borrower shalll agree in writing to the payrrtent of the abligatian secured hY
<br />such lien in a manner acceptable to Lender, ar shall in goad faith contest sick lien by, ar defend enforcement df such lien n4
<br />gal y.w...°° u'-tgs w',. Yh ar. ~.~ tw proven rise _nfar.,_.•-~-t ~ the .._.. _r t ~}tr~ra of t_t~ Property 4r any part thereo€.
<br />5. Itce. Borrower shall keep the improvements now existing or hereafter erected on ttre Property insured
<br />against lass by f?re; hazards incktded within the term "extended coverage°, and each other hazards as Lender may require
<br />atxl in such amounts and for such pe»ods as Lender may require: pra+,-ided, that Lender shall nor require that the amount of
<br />such coverage exceed that amount a# coverage required to pay the sums secured by this Mortgage.
<br />'Ilu i.+Ya.rat~-r carrier providing tl~ insurance shall he chosen by Bonawar subject to approval 6y Lender, provibed,
<br />_ that such approval shall not be unreasonably withheld. All premiums on insurance palicia shalt 6e paid in rho manner
<br />provided under paragraph 2 hereof or, if not paid in such rnaonor; by Borrctwtr making payment, when due, dirsxtty to the
<br />AII irtsnrattce policiest and rettewais thereof strait be in form ac~epeable to Lender and shalt include a starsdar'd mortgage -
<br />clause in favor of and in farm accegtabie to Lender. Lender shall have the »ght to hold the policies and renewals thereof,
<br />aced BGrrawer shalt grotnptly furnish to Lender alt renewal rsatiees and all re;.eigu of gaitl premiums: In the event of Iris;
<br />Borrower strait give prompt notice to the insurance carrier and Lender. Leader may make proof of loss if not made promptly
<br />by Borrower.
<br />Unie~ Lender and Borrower otherwise agree in writing, insurance proceeds shalt be applied to restoration or rEpaa of
<br />the Praputy damaged, provided such restoration or repair is economically feasible and the seta»ty of this Mortgage is
<br />not ttureby irripair~. IE such restoration ar repair is hat eeotximicalty feasible or if the secu»ty :,f this Mortgage would- _
<br />be iLrtpaircd, the insurance groceerls shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Harrower. If the Property is abandoned by Borrower, or i# Borrower faits to respond to Lender within 30 days from the
<br />daft aortae is mailed by Lender to Borrower that the insttrattce carrier offers :o settle a claim for insurance ttertefits. Lender
<br />is suth.:.riatd to tallest and apply the insurance proceeds at ! endtr's option tidier to restarati~ or repair of Ilia PrapertY _ - -
<br />- or to the ssutss secured by this Mortgage.
<br />U.uless Lender and Borrower othrrvrise agree in wririrtg, any such application of proceeds ro p»neigal shalt not extend
<br />or postpone the due date of the monthly instalitttentt referred to in paragraphs i and 2 hereo€ ar change else atnaunt of
<br />such instaltmen~. If under paragraph iS hereof the Propc=3}' is acquired by Lender, alt »ght, tint and interest of Borrower
<br />in art! to any ir~dratrce poticiet and in asxt to the proceeds thereof resulting from damage to flu Property g»or to the sale - -
<br />or a6gUiaitian shall gala !d Lender to the extent of fire sums secured by this Mortgage immediate[y prior to such sale ar
<br />~anisit~n.
<br />g. Pm~vsBae stmt Mssmtessatire Elf Property; Lesselroldst Londomidtr®s: 1'~aned UsAk I>kveloptecsi$. Borrower
<br />sirak lr~p the Property in gaol repair and shall-trot cotrtmit waste ar permit impairtt#at or deterioration of the Property
<br />- and. shall txtntply with. the-provisions of any tease if this Mortgage is on a teauhold. If ibis Mortgage is on a unit in a
<br />soadominiurtt ar a platuud unit development, Borrower shall perform all of Borrower's obligations under the detiaratian
<br />ar ~:aveaaats creating ar governing the c~domiisium or planned unit develarpnunf. the by-laws and regulations of t2st
<br />eoadaruiniuitt or plannsad unit develogtrtent, and constituent documents. if a cortdomirtittm or planned unit devetapment E
<br />»der is exvctlted by Barmwer grid recorded taggther with this Mortgage, the covenants and agreements of such »der
<br />stroll be ire~rparated into and shalt-amend and supplement-the covenants and a$reerrtents of this Mortgage as if the »der
<br />were a-part hereof.
<br />7. larotecdrrn ~ ~ If Borrower -fails to, perforsn tltt ctrvenaats and agreements corttaitted in this
<br />Mortgage, or If any actutn ar;proe~ding ,is 'cammeaeed .which rriattriatly affects Lender's interest in the Prouty,
<br />including, bast not tinrited toe emitteni domain,-iitsal+reitcy, code:tnforcemeni, ar arrangements or pmceedmgs involving a
<br />lsankrupt er decedera, titan -lxnder'ae Lender's ppEion; open notice ttx Borrower, they make such apgearancxs, disburse such
<br />sua~ take s~.sclt action as is try to ,grotrct i..ensic€`s irttcrtst, inctuditrg, but not iimiztd to, disbursement of
<br />reasunafile a#t4ta4Ey's ft~s' atsd erterq ttpan the Prnltert}' tc, make repairs. I€ Lender required mortgage insurance as a
<br />condition of making the loan 3eatued by this Martg.~ge; Borrower shalt pay the premiums required to maintain such
<br />iasm`atice in.effect t such lane as -the requirement fdt• Rtrcix insurance terminates in aocordance with Borrower`s and
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