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<br />Uxrnoat~t CovexnrtTS. Borrower and Lender wvenant and agree as follows:
<br />f. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebte'r-ness evidenced by the Note, prepayment and late oharges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />Y. Faads foe Tazm sad Ie$ataec=. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Leader on the day monthly installments of principal arid' interest are payable under the Note, until the Note is paid in full,
<br />a sum (herttin "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and grotmd rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurarKe,
<br />plus sac-twelfth of yearly premitun installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to tithe by Leader on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency {including Lender if Lender is such an institution). Lender shall apply the Funds to pay said razes, assessments,
<br />irtsuranco prcmitttns sad ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall 6e paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Barrowu, without charge, an annual accounting of the Funds showing credits and debits to the Funds sad the
<br />purpose for which each debit to the Funds was made. 71te Funds are pledged as additions! security for the sums secured
<br />by this Mortgage.
<br />11 the atnottnt of the Funds held by Lender, together with the Future monthly installments of Funds payable prior to
<br />the due dates of razes, sments, imurantx premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assts, instuance promituns and ground rents as they fall due, such excess shall be, at Borrower's option, eithtr
<br />prompdy repaid to Borrower or credited to Borrower on monthly installments of Funds. If fhe amount of the Funds
<br />6dd by Letrder shalt not be strfficieat to gay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay m Leader any amoune necessary• to make up the deficiency within 30 days from the date notice is mai{ed
<br />by Leader to Borrower requesting pa}•ment ttter~f.
<br />Ldpon paymer_t in frill of all sums secured by this Mortgage, Lender shall prompily refund to Borrower any Funds
<br />Sdd by Leader. If under paragraph I8 hereof the Property is sold or the Property is otherw:se acquired by Lender, Lender
<br />shad acv; m later than imme,~iainly trier to the sak of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit ttgai2st the sums secured by this Mortgage.
<br />3, Apgliatiea of Payemalt. Unless applicable law provides otherwise, all payments t'tccived by Lender under the
<br />Nate and paragraphs l and 2 hereof shall Ne applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. rhea to interest payable on the Note, then to the principal of the Nate, and then to interest and
<br />principal oa say Fttttae Advamxs.
<br />4. C~ Bess. Borrower shall pay all !axes, assessments and other charges. fines and impositions attributable to
<br />the Property vrttich racy attain a priority avtt this Mortgage, and leasehold payments or groutm tents, if any, is the taa,ntter
<br />gtrvided rmder paratr~itt 2 hereof or, i# tax paid in such manner. by Borrower making pa}-meat., whet dsu. dirtcUy to Uts
<br />payer rlroieof- Borrower shall prompily furnish to Leader sv nonaes of amounts due urtder Nis paragraph, and in the event
<br />Borrower shall mite payment directly, Borrower shall promptly #utvish to Lender receipts evidencing such payments,
<br />Bttrrawer shalt grumpily dkcharge say lien which hu priority over this Mortgage: provided, that Harrower shall nut )x
<br />reslttiml to discharge say such lien so tang as Borrower shall agree in writing to the payment of the obhgatian secured by
<br />suchliea in a maaaer atxxgt:b# to Lermer, or shall in good faith contest such lien by, or defend enforcrntrnt of such lien ire,
<br />total pr'otxediiits srhiclt operate W prevent the enforctmtent of the lien or forfatere of trio Property ar any pan thereof.
<br />S. Satter! b~aaoe. Borrower shat! keep the improvements ttow existing or hereafter erected an the Property insured
<br />spinal kiss by Ste, hoards included within the term "eztettded coverage", and such oQter hazards as Lender tnay require
<br />and is such amounu sad for etch pcria~ as Lender ma}' require; provided, that Lender shall trot require that the amount of
<br />such o excmd that atisount of rnveragc required to pay the sums secured 6y this Mortgage.
<br />7lte iawtarttx cattriv provitting the insurance shall be chosen by Borrower subject to approval by Lende.~ provtdod,
<br />that Stich apgioval shall not be tmressanably withheld. till prentitrins on insunna palicbes shall be paid in the: manner
<br />prostidad under gan~gzsgh 2 betmf or, if sot paid in such ma~~.. by Borrower making p}Tttettt, whorl due. directly to the
<br />ia~•auoe carri;Y-
<br />A® isut¢anoe polices sad rmow'als thetwf shat! be in farm acceptable to Lender and shalt ixludt a standard mortgage
<br />d~ is faetx of sad is farm atxegtabie w Ltadrr, Lender shall have rho right w bald tttc palsies acrd renewals theretsf,
<br />sad 1?fasrowr3 shall promptly furrdsh m Cornier aB renetxal rwtitxs and all rtxxiprs of paid premiums, Tn the neat of loss.
<br />Btxroara daal! give prompt t~ioe to the :^~,,~~ carrier a~ Leader. Lender may tnakc proof of lass if not made promptly
<br />bg Horrcarer.
<br />Utt~less Lends and Hosrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Pr+ogert}• damaged, provided strrlt restoration or repair is ~^atmtnicsll± fcasi6k and tlx sxurity of this Mortgage is
<br />rot theroby impaired. I# such rcstaraven or repair is eat ernttatnicavy feasible or tf the ree.trity of tfiis Mortgage would
<br />be itagair,ed, rho insurance proceeds shall be applied to the sums secured by this Mortgage. with the excess. if env, paid
<br />m $otrn+eu. If the Propcty is ahetsdnned iy} $orrtw,er, ar tt Borrower fain to respond to Leot!~r within 30 days from the
<br />dsse rsosice is mailed by Leasder to Barrowe- that the inwranct comer offers to setile a claim for ittsurartce benefits, Lender
<br />a anFhtyrimd iii rariilect sad apply t>~ ittsutantx proceeds at Lender's option arbor to teraoratian or repair of the Property
<br />or m ~e su®s sentied try this biortgttac.
<br />Ualea I-entltr sad $~torver ath~isc .agree m wririitg, any such application of proceeds to principal shall na extend
<br />is; postpotee rho due dace oT ttte tnoaih}y inbiallatcnts re#erred to in paragraphs i utd ? hercoi ar change the amostnt of
<br />stseb iaat~rnts. )f uttdet paragraph 13 heseaf the Property is acquired b}' Leader. ail nght, tick and interest of Borrower
<br />is std ttt any intatranve pnlicia sad in sad to the proceeds thereof resulsing from datna8c to the Property prior to the sale
<br />or apg~ntioa shall peso to Lewder w Bit eztcat of the ~ scti-ured by this Mortgage immediately prier to such sale ar
<br />A alai Mailatteao•rt aE Prtepaty; I.easeholtifi Cowdiaadei~fi Pled lisle ~. Sorrowtt
<br />ksxtp the Progarty ~ tend raputir amt t~ sat txrmrnit waste or peratit impairment m del=tioration of tlx Property
<br />sad sha8 with tare ptavrs~ of say lease if this Mottgsgc i; on a 3easehoid. if this Mortgage is on a unit in a
<br />v ar a plaoared trait derslapm~rt, Harrower shall perfarrn all of Bog's obligat;om under the d~laratian
<br />m oavtr erest~t ar tag the madarninium ar piaanod unit developtittnt, the by-laws and reguiatiarrs of the
<br />m gt~aad t devatt~tmessi. and eaasiitueat docuntestts if a condominium or planner unit dcvelopmcot
<br />iidsr is assessed by lzlturottRr sad rncor+dad toteibea with this Maatgagc, the cavtitants and agreements of such rider
<br />s1pB be ieaotpettpad itpo sad shall aat~d arm wppldaeat the covenants sad agreements ~ thes Mortgage as if the rider
<br />tws!e a prier htsttnaE
<br />7. Isaieeisa of ~sisrts It Barg fails try perform the ;rovtaanis a~ agrctmenis emttained in this
<br />, ~ ¢ ,ay action ar praneted+sg g ovtrtmeacod which tnaterialty affects Lender's interest in the Property,
<br />ime3a~. brit ant tit~ted to, eminead domain. iraol'w®tY, code enforcesncnt, or artangetnents or ptncecdings involving a
<br />btmltrapt ar detxdtmt. Shen Leads' u I,eedu's option, upon nontx to Borrower, tray make such appearanm, disburse such
<br />sus sod ttdoe wrh at>bm as is netxasaiy to protect Leach's interest, including, but not limited to, disburscrtent of
<br />temaotlyle atsoaaey's ~ sad catty trQmt the Property to make repairs. If Lender required mortgage insurance as a
<br />caodit+<ta of taalortg the lose seexued by thk Itlortgage, Borrower shat! pay the prcatiums required to maintain such
<br />i is ~ tesid ~ time ~ the tegtrtte~t for such insurance terminates in accordance with Borrower's and
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