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<br />UtvtFOat,s t.;avarrntvTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Prfucipal earl interest. Sorrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, nrepa}'ntent and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by ibis Mortgage.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender; Borrower shad pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a stun (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of }early premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimaEes 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). 1_ender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and 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 YhaE interest on the Funds shall be 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 />shad give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Fends and the
<br />purpose for which each debit to the Funds was made. 'The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the 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 they fat: due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on-monthly instaiiments of Funds, if the amount of the Funds
<br />held by Lender shall no[ be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fat! due,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 Jays from the date notice is mailed
<br />by Lender to Borrower requesnng payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, under shall promptly refund to Borrower any Funds
<br />held by Lender. It under paragraph lg hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Propctty or its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums securers by this Mortgage..
<br />3. Applrcatbre of Payments. Unless applicable law provides otherwise, al! payments received by Lender under the
<br />Note and paragraphs t and 3 hereof shall be applied by i-ender finF in payment of amounts payable to Lender by Borrower
<br />under paragraph ~ hereof, then to interest paya9lc on the Note, then to the principal of the Noce, and then to interest and
<br />principal on an, Future Advances.
<br />~. t'.fiat~.s; I.~n. Borrower shall pay all taxes, asarssmcnts and other charges, fin.. and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments ar ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not pail in such manner. by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower sha{I promptly furnish to Lender all notices of amounts due under this paragraph, cad in tfie event
<br />Borrower shall make payment directly, Borrower shall promptly' furnish to Lender receipts evidenemg such payments.
<br />Horrower shall promptly discharge any lien which has priority over this Mortgage: prnvtded. that Sorrower shall not be
<br />required to discharge any suet! lien so long as Borrower shall agree in writing [a the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith rnmest such Ir.-n by, or defend enforcement of such liar in,
<br />legal proceedings which operate [o prevent the enforcement of the hen or forfeiture of the Property ar any part thereof.
<br />3. Hazard hrsur~ttee. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended cmerage". anti such other hazards as t_rndcr may r_quire
<br />~~,E ~,., _ ,,a, „mom„„rs ,rid far cuoh nvrindc ac 1 ender may require: provided. that Lender shall not require that the amount of
<br />such caveragr exceed ttiat amount e,f caveragr*required to pav the same >es:ured by this Morgage.
<br />'The irtsurance carrier providing ts~ insurance shad be chosen by Borrower subject era approval 6y Lender; provided,
<br />that such approval shall twt br unreasonably withheld. All premiums on insurance parities shalt br paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Sorrower making payment, when due, ditCCtiy to the
<br />insurance carrier.
<br />Ali insurance policies and renewals thereof shall be in form acceptable to Lender anti shall include a standard mortgage
<br />clause iri favor of and in form acceptable rc Lender. Lender shall have the right to hi,td the policies and renewals thereof.
<br />and Barrower shat? promptly i~arnish to Lender 313 renewal notices and 331 receipts ~rf paid premiums. In the event of lass,
<br />Botrow, er shall give prompt notice to the inatuunce ~~atricr and Lrndrr. Lender may make great of leas if nut made promptly
<br />by t#arr<)wrr.
<br />Unit-ss Lender and Borrower othrrwtcc agree in writing, insurance prccceds shalt 6e applied to restoration ur repair of
<br />the Property damaged, provided such restoration [~r repair is economically feasible and the security of this Mortgage r,
<br />not thereby impaired, It such restoration or repair is not economically feasible or d the security oC this Mortgage would
<br />be itnpairtd, the insurance prrx:eeds shall be applied to the sums secured by this Mortgage. wuh the excess, if any, paid
<br />to Borrower. ff the Prupcary is abandoned M Borrower, or it Borrower tails to resptmd to lender within 30 days from the
<br />date notice is mailed by Ltnder to Borrower that [hr insurance currier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds art Lender's option Tither to restoration tx re{._tr of the Properly
<br />or to the earns secured by this Mortgage.
<br />Unleas tender and Borrower otherwise agree. in writing, any such application of proceeds to principal shall nut cxttnd
<br />or pustpore the due date o[ the monthly installments referred to in paragraphs I and Z hereof ur change [he amount of
<br />such installments. If under paragraph 18 hereof the Property is acquired by Lender, alt right, title and merest of Borrower
<br />in and w auy insurance policies and ht and to the proceeds thereof resulting frnm damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the cereal of the sums secured by this hiorteage immediately prior to such sale or
<br />acgttisiYion.
<br />i5. I'resenatiat sad Maintenance of Property; Leasefialds; Condominiums; Planced Unit Ilievelopments. Borrower
<br />shall keep rile Property in good repair and shall not commit waste ur permit impairment or deterioration of the Property
<br />_ 1;'a.=<~ •f •his ti~nrt aQe ~s .zn x leas'=hold. if his MErtg
<br />~' s~-!: c~,etply wait the p e x-one a# ~uy _ , .. ~ g a age i_ it i a
<br />o^,^:t^mdniutn or ptArn::d ,.,.. •!avr!r-pn,znt in^ €vws`r sha:tl p^rf:~rn: alt : f Bar..... ahiig3fiatts tutdt. the •~l-Nwl retf:a:
<br />or covenants creating or governing the condominium or planned ante develapmenty,the by-laws and regulations of the
<br />condominium or planned unit davrlopmen[, and constiurent documents, if a cmtdominium or planned unit Jcvelepntent
<br />rider is executed by Barrower and recorded together with this Mortgage, the covenants and agreements of such rider
<br />shall br incorporated into and shall amend and supplcmcnt the covenants and agreements of this Mortgage as ii the rider
<br />wort: a part hereof.
<br />7. Pratectlan of Leader's Security. if Borrower tails to perform the covenanfs and agreements coutaiued in this
<br />Mortgage, or if any action or proeceding is commenced which materially affects Lender's interest in the Property.
<br />including, but not limited to, emitrent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankrupt m• decadent, [htn Lender at Leader's option, upon notice m Borrower, may make such appearances, disburse such
<br />sums sad take such action as is necessary to protect Lender's interest, including, but not limited to, disbursement of
<br />reasonable attorney's fees and tarry upon the Property to make repairs, If Lender required mortgage insurance as a
<br />condition of making the loan secured by this Mortgage, Borcower shall pay the premiums required to maintain such
<br />insurance in effect until such time as the requirernent for such insurance terminates in accordance with Borrower's and
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