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<br />~ Utrtrraatrs ~Cavr?t,rxe+°rs_ Bornptver and Ltt}de€ Covtraarut and agree as f7?ilows:
<br />I. Payment of Principal and interest Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and tare charges as provided in zhe Nott, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />~ 2, Funds far'Pt~es and Irtsr€taincr. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable uadtr the Note, until the Note a- paid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments whirls may attain priority over this
<br />t Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard instvance,
<br />f plus one-twelfth of year?y premium instalments for mortgage insurance, if any, alt as reasonably estimated initially and from
<br />~ time to time by Lender on the basis of assessments and bills and reasonable eseimates thereof.
<br />The Funds shall be held in an instituuon the deposits or accounts of which are insured or guaranteed by a Federal or
<br />slate agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessmenu,
<br />insurance premiums and ground rents. Lender may not charge far so holding and applying the Funds, analyzing said account,
<br />or vvetifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender [o make such a charge. Borrower and Linder may agree in writing at the dme of execution of this
<br />Mortgage that interest oa 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 />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds 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 bicrtgage.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the dui 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 fall due, such excess shall be, at Borrower`s option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be stdlicient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shalt pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of alt sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, nn later than immediately prior to the sate of the Property or its acquisition by Lender, any Funds htld by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Applic~;43an of Payments. Unless applicable taw proviiles otherwise, ail payments received by Lender under the
<br />Noce and paragraphs 1 and 2 hereof shall be applied by Lender 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 />princip«t on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manacr
<br />provided under paragraph 2 hereof or, if not paid in such manner, 6y Borrower making payment, when due. directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, sad in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to tender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shalt not be
<br />required to discharge any such lien ro long as Borrower shall agree in writing to the payment of the obligation stCUred by
<br />such iitn in a manner acceptable to Lender, or shall in good faith contest such lien 6y, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. 13rtzard htsenrante. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fin, hazstrds included within the term "extended coverage", and such other hazards as Lender may reyuire
<br />and in such amounts and [or such periods as Lender may require; provided, that Lender shall not require that the amount of
<br />sash cvvcrage txcei:d that amount of eovtragt t;equircd to pay iht< sums stcttrad by this Mar€gag-e.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lander; provided,
<br />that such appri.val shall not be unreasonably withheld. All premiums on insurance policies shalt tae paid in the manner
<br />provided under paragraph 2 hereof or, if nut paid in such tttanner, by B.:rraaer r-taking papntett€, what dtx, atirertty to the
<br />_s_ .-roll`:. -ae rte'-r.
<br />' Ali mSUraRCC paitCleS and renewai3 thtreof shall t1e In fern} al`l'tpiittllC to Lender and shall mC'iliitr a sianuarit inartgagt
<br />Clause in favor of and in farm ae~ep}ah'se to Lcncivr.s.et}der shall have the right to i:old the ~~~i:iLic~ artd ~€~`_±~~ tit$rt-r.
<br />and ~,r~s.-er shah Isromftty° iur~rish to i=~r a.i r~r€~-ai r.cit€t~ 3rfi' sti r~:ipts i € paid tsr~.tius:~. .., :~ ~~, zf !"
<br />Borrower shall givt prompt native w the insurance carrier and Lender. l-ender may make proof of loss if not made promptly
<br />ray Horrowtr.
<br />Unless Lender and Horrowtr otherwise agree in writing, insurance protea~is shalt be applied to restoration cu repair of
<br />the Property damnged, provided such restoration or repair is economically feasible and the security of the. Mortgage is
<br />not thereby impaired. it such restoration or repsu is not economically feasible or it the security of this Mortgage would
<br />lx impaired, the insurance prrxteeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Harrower. li thx Pr~ptrt} is abandnnrd by Horrowtr, or if H(ttrower Earls to resl'<rnd to i.tadee within 30 days tram the
<br />daft nutter is mailtd bv_ i,endcr to Hortower that the insurance carrier oilers to sentc a claim fur insurance benefits, Lender
<br />is autht}rixed to collect and apply the tnsuraact proceeds at Lender's option wither [o resWration or repair of she Property
<br />or to the aorta ar4uerd try this Mortgage.
<br />t.hdrss l.tnder and Eh:un+wtr otherwise agree a} writing, any such application of pnwetds to principal shall nut txttnd
<br />or postpr:nt+ the due ilxitr cf tear monthly installments referred to in paragraphs I and 2 hereof or rhangr the anxum[ of
<br />sorb aeastatinrtnsa. it under ~ragraph €tS trerrof the Property to acquutd by Lender, alt right, title as}d interea[ of F3orrerwtr
<br />in arts; to an4~ insuratske pa~lieics and in and to the pe€x;etds [hereof rtsulung i'roru tlamagc to the Property prier €o the Batt
<br />aa' acyw>iuaaa shat puts to bender [u the extent of the sums sncurtd by rhea Mortgage is}ntediately priiar to aucir sate or
<br />acquisition.
<br />b. 1'rttirrvatiun end lltaiatenanrro of Property: Leaseholds; Gandnminlutns; Planned Unit Developments. Borrower
<br />--'
<br />3tta:i keep tt}€ r`rtiper[y in ~zhal rc(rai7 anti 5natt nut CUmmn waste O€ per€ntt impaitfittent of i1eeETTk~r3tiUre or € - t-a~perty
<br />anCi mltaii cYtmoiu wit12 lire prnulaitlns iaf any tease it this Mortgage is can a leasehotd_ tf this hior[gagc is on a unit m a
<br />condun}inium or a ptanntd unit development, Borrower shall ptrforn} alt of Borrower`s oblrgations under the drelrtution
<br />or c-ovtnsnis krtating or gs-~vtrning the eondon}inium or ptanneci urrrt devttopmtar. the by-Laws anri regulations of Ihc;
<br />c°stdominium ur planned unit development, and constituent doeumtttts. It a cotrdotninium or planned amt ilevclopnrent
<br />rider is executed by Horrowtr and recorded together with this Mortgage, the covenants and agreements of such rider
<br />shalt ~ intorparattd into and shaft amend atxl suppieittent the Covenants and agrermenss of this Mortgage as ii the rider
<br />were a part hereof.
<br />7, WcWeetlau me Lender's SeCwlty. If Borrower faits to pertarm the covenants and agretmems contained in this
<br />Mortgage, or if any action or praetding is c:omtnenCeil which mattriall} s}tlt,:ts Lender's interest in the P*operty,
<br />including, but not limitu}. to, eminent domain, insolvcnCy, csxfe enfartcmem, or arrangements or proceedings involving a
<br />bankrupt nr decedent, then Lander at Le suer s option, upon notice to Borrower, n}ay n}eke such appearances, disburse such
<br />suttts and take oath action as is neCCtssat•} cis prate: t I..ender's intea'e3t, ir};.luding, but nm limited to, disbursement of
<br />reasonable attumoy's fees and entry upon the Property to make repairs. !f l,rntier required mortgage insurance as a
<br />condition of n}eking the loan ~tcurW by this Mortgage, Borrower shalt pa}' the premiums required to maintain such
<br />iasurance in erieat until such tittle as elm rt+;t€ircr~t}2 fs:r str<~ta insur~tt=~ ttrnnr<tts :n ac~t~iaute wth Bnri:~wrrs and
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