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<br />a-® it;`i~~~l~v
<br />il:ait=oa€~r Ca'~i:~na€as. Idorrawar and fender ct=versant and agree as follows:
<br />3. f'ay6ienE a£ ;prltzctgai and >;niec-zsE. Borrower shall promptly pay when due the principal of and interest an Ute
<br />indmaotei .e€s evitl~nced by the Nnte, prepaym^cnt and late charges as provided in the Nose, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />~. ~ far'~'axes end Insurance. Subject to applicable law nr to a written waiver by r~,nder, Borrower shall pay
<br />4a L.ender on rite day maotltly installments a# principal and interest are payahle under the Nate, until the Note is paid in full,
<br />~, r~ >E;, ••F~~~ts'~s Huai sn Qnat±uelfth of the veeriv taxes and assessments wltivh may attain prinrit3 aver tftis
<br />Main, Arad graattd rents an th°v ¢ro~rty, if arty, plus era-iwelftls of yearly premium installments for hazard insurance,
<br />plus nrse•ESVeI#th of yearly pretnitsm instaiittrznts for ma~tg~agz i ~t~.~a, if say. all as rw~,::ab!y =°~tamzE'-~ '-rIL`aI}y a-nd from
<br />time Eo tune b}' Leader on the basis of assessments and bills and reasonable estimates thereof.
<br />~'Ite Fut=ds shall he held in an institution the deposits or accounts of which are insured or guaranteed by a Federal ar
<br />start agency 4inc3uding Lender if Lender is such an institution?• I-ender shall apply the Funds to pay said taxes, assessniants,
<br />mM§zns end grat_sn rP},?c. 3 Winder may not charge for sa holding and applying Ehe Funds. analyzing said account,
<br />,...x. `i .Y t Borrower interest an the Fundy and applicable law
<br />ar verifying and eompi,ing said assessments and bills, ur,iess Lender pays
<br />permits Lender to make such a charge. Borrower and Lender r-tay agree in writing at the Time of execution of this
<br />?ritx-igage that interest on the Funds shall Ile paid to Borrower, and unless such agreement is made or applicable law
<br />requires sash interest to be paid, Lender shall not be required to pay Borrower any interest ar comings on the Fonds. Lender
<br />shall gzvz to Borrower, without charge, an annual accounting of the Funds showing credits arsd debits io the Funds and the
<br />purp~-~e #or which each debit is the Fur.tis was made. The Funds aze piuiged as additional security for the sums suu=-ed
<br />i±y this Mortgage.
<br />a# thz amount of the Funds held by Leader, tn~E;,e; with t,R:, futurz montlt!y t.^.stalt,,,Qnrs of Funds sayable prior to
<br />fhz due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as Ehey fall due, such excess shall be, at Borrower's option, zither
<br />promptly repaid to Borrower ar credited to Horrewer on monthly installments of Funds. if t}tc amaunE of the Funds
<br />held by Lender shall oat bt stsffieient to pay taxes, assessments, insurance premiums and ground renu as they #aIl dtta,
<br />Borrower shall pay to Lender any amount neczssar~ to make up the deficiency within 3t) days from the dace notice is mailed
<br />by Lender tc Borrower requesting payment thereof.
<br />Urpan payment in full of ail sums secured by this Mortgage, Lender shalt promptly refund to Borrower any Funds
<br />Ite3d by Lender. If under paragraph I8 hereof the Property is sold ac 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 held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. APplleatl^a of Paystests. Lniess applicable law provides otherwise, a3i paymenu received by Lender under the
<br />Nail and paragraphs I and 2 hereof shall he applied by Lender #trst in payment a£ amounts payable to Lender by Borrower
<br />under nara¢ratsh 2 hereof, Then to interest payable on the Note, then to the principal of the Note, and then to interesx artd
<br />principal an any Futttre Advances.
<br />4. barges; Liens. Borrower shall pay all taxes, assessments and other charges, fiats and impositions ariributablz Eo
<br />the Property which tray attain a priority over this Mortgagz, and leasehold payments nr ground rents, if any, in the minces
<br />provided under paragraph Z herea# or, if not paid in such manner, by Borrower making payment, when due, directly is tlta
<br />payee thereof. Httrrawzr shall pramp~y furnish to Lender alt notices of ama??nu due under this paragraph, and in the event
<br />Hnrzawer shall makz payment slirectiy, Borrower shall prampt3y furni,lt to Lender re~,:ipts zvidencing such payments.
<br />3iarrawer shall prampt3y discharge any lien which has prt:,rity over this Mongage, Provided, that Borrower shalt ra* t°
<br />required to discharge any ~~c3? lien so long as Barrawzr sFaB agree in writing to Elie paytneni of the obligation secured 7}
<br />such lira in a manner a~ptable to Leader, ar shall in gaud faith comest such 3ien by, or de#end enforcement of such iitn =in,
<br />legal prcceedittgs which apzratz Ea prevent the e„fen€~,t::eat of thz ?:z....r €arfz=tvey of thQ Property ar am s'art thet9eaf.
<br />S. ~axard Inssraace. Banower slsa32 keep the improvements nosy existiag or hereafizr erected on the Property insured
<br />against loss by Errs, hazards inc3uded within the term "extznded coverage', and such other hazards as Lemter may require
<br />a t-a' in sttch amounts and #nr such periods as Lz~er may requste; provid; d. that L-ender sha33 not regw'}re that the amount of
<br />s,?ch coverage exceed that amount of coverage required to pay the surits secured by this Marigage.
<br />The insurance carrier providing the insurance shall be chosen by Harrower subject to approval by Linder provided,
<br />r~~t sscpr apprava3 shall oat bat unreasonabty withheld. Ali premiums on insurancz policies shall be paid in thz maniser
<br />pravidet3 nntl:r paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to Ehe
<br />ins:~r-aatia ~iricc.
<br />At1 irsszt~rtce policies and rznzwals thereof sha13 be in farm acceptable to Lender and shall include a standard mortgage
<br />:lease in favor of and in form acceptable to Lender. Leader shalt have the right to hold the policies and renewals thereof,
<br />onto Harrower shat; promptly fus:.ish to Lettdzr al`s re4te:val notices an a3I re;~.iprs of paid premiums. In else event of IrssS,
<br />$nrsawer steal} give armm~t notice to the insurance carrier and Lender.llLeadcr may ,:take proof of lass if not made grtxnpily
<br />I>y Barrowzr.
<br />tWnltss Lender and Harrower otherwise agree in writing, insurance proceeds s3tall be app€ied to restoration ar repau of
<br />the Property damaged, provided snch restoration or repair is csanamsczlly feasible and the security a# this Mortgage is
<br />oat thereby impairs=ri. If such restoration or r. pair is not e~,:anomical3y fcasib3e or if the sr unity nF this Mortgage would
<br />he itnpaised, the insurance proceeds sltail he applied to the stems secured by this hfartgage, with Ehe excess. if any, paid
<br />Ea Harrower. i# the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 3Q days from the
<br />dart na~ce is mailed by inndzr ro Borrower ?hat tlez insurance carrier offers to sett}e a claim for insurance bettzftts, Lender
<br />is au~ihari~u to :^.,I: w't ~~d apply tI'-= i'ss'_=:ar.~"- pr~'ds at L:•nder`s saptian either to restoration ar rzpair of ifte Property
<br />ar to Lhe stt~~ secured by this Mortgage.
<br />Unless Lender and Banawer otltzr== ~~ agree in writing. any s'~It application of prac:ceds to principal shall oat e.tvnd
<br />or postpone Ehe due date of the manth`,~ installments referred to in paragraphs I and 2 hereof ar change the amount of
<br />such installments. 1# under paragraph 35 iizreof tilt Property is acquired by Lender, ati right, title and interest a€ Harrower
<br />in and to any insttsvnce Iutlicizs and in and to the prttr_ecds :lt:.rzof rzsulting from damage io the Property prior to Ehe sale
<br />or acgttisitian shall pass to Leader to the extent a# tltz su ;~. s,~cured by this I4iortgagE immediately prior to such sale ar
<br />a::,u itlvu.
<br />6. Pgtservai asd Mtsisiesance a# Psoptrty; Leas€h~,i+ls> 4rondomimmiams: Plastered Unit Devefisegtaeata. Borrower
<br />shall keep thz Prar.:-tiy in g~?d szpair ?~±d shall oat commit waste or permit impaisrttent or dtteriorstion of the Properfy
<br />and shall comply with Ilse provisions a# any fears if this Martgagz is on a leasehold, ff this Mortgage is an a unit in a
<br />condorttiniurrt cr a planned ttttit development, Borrower shall perform alt of Borrower's obiigatians under the declaration
<br />ar ca-~r:nts ~.~ating ar dv analog the cnndamittium ar planned unit development, the by-laws cad regtdations of the
<br />^^da;;;ini'~ ar pt~is~~ „~€t devzlapr?ent and canstitttenE documents. If a condominium nr planned unit development
<br />rider is executed by Horrowzr and recorded together with tlsis Mortgage, the cavenaats artd agreetttents of such rider
<br />ahail be isettrporated-iota and shall amznd and supplement tree covenants and agreements of this Mortgage as if the rider
<br />were apart-hf.
<br />7. of Les+§ecs se+carity. Zf Borrower fails to perfarrrt the cavenan:s and agreements contained in Ehis
<br />aitBage, or if say aeiititt or proceeding is srainmenced which materially aife.^ts L.ender's interest in the Property:
<br />Itscluding, bit4-oat Hmited to, erttin€nt dosttain, insotvzncy, code snforczmznt. nr arrangements or praczedittgs involving a
<br />ba~krttpE ar rlecedzni, ihzn Lender at Lendzr's option, upon oodles to Borrower, may make such appearances, disburse such
<br />~u"rx'iS and take sa:h a<;`.ims as is r.~ssa*y ta- prot^~t I~nd~r's interest, in~3uding. but not Iimitzd to. disbursement of
<br />Leasanabl~ attorney's fees an3 enter trptttt the Property Ya make repairs. if Lender required mortgage insurance as a
<br />satttiitian of making the loan soured by this Morigagz, Borrower shall pay the premiums required to maintain such
<br />intrstraritx in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
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