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<br />1- Ptrssr>a:; £'isruip~ Z~er~t. PE-r-_ze- °. r_mp*ly ay ~xhen due the prin~,ipal of and interest an the
<br />_.~r ... .r c t<, ,y :-~ ",cx= ~-Pp<ysrr_~r a. u - ,..,target as pros idstl i^. the '+: ate, and the principal of and interest
<br />-__ - - »:_r:..,..-ar=_s s.~l. _u -; tS:., ?.4ortgag`.
<br />~;r. Fua~ for Toes anal Iassrencr. Subjec>. to app!izble aw or zo a written waiver by Lender, Borrower shall pay
<br />.~ 1.-rv_;- ^ ^° dv-: ^- ,^y ~•-xa`ss.^;e^ts cf pnncipai anj inieresi a:e pa;•abte under else Nate, until the Nate is paid in full,
<br />.~ su-f: {~;cr. ~'FtLr;s"Meanai za one-rwe~th of tit yearly taxes and assessmenu which tnay attain priority over this
<br />:tifr,^gage, and ;rauad rents ar. the Property, if any, plus oee-twelfth of yearly premium installments for hazard insurance,
<br />p'~~s r~=~-nrelft , of yearly p;:atium in~-taiimenis far rnartgage insurance, if any, ail as reasonably estimated initially and fray
<br />time to tz.*TM='~} Zzader on the basis of assessments and bills and reasonable esiimat~ thereof.
<br />The Fund, shall be held in an institution the deposi~ or accounts of which are insured or guaranteed by a Federal or
<br />stale age nom} (including Z,ender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />araurarce premiums and ground teats. I-ender may not charge for sa holding and applying the Funds, analyzing said account,
<br />ar vtefying 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 or. the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />reetrires such interest to be paid, Lender shall noY be required to pay Borrower any interest or earnings on the Funds. Lender
<br />, sha1S give to Borrower, without charge, an annual acceuntieg of the Funds showing credits and debits to the Funds and the
<br />purpose for which ear_h 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 wish the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amcunt 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 Eorrower or credited to Borrower on monthly installments of Funds. 1f ehe amount of the Funds
<br />held by Z.ender steal! not be sufficient to pay taxes, assessments, insurance premiums exit ground rents as they fall due,
<br />Borrower shat` pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by ixnder to Borrower regeesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower arty Funds
<br />held by Lender. If under pazagraph SS 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 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. Application of Payments. Unless applicable law provides otherwise, alt payments received by Lender ender the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, ehen to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Cttarges; Liras. Borrower shall pay all taxes. assessments and other charges, fines and impositions attr;butable to
<br />the Property which may attain a priority over this Mortgage, and leaselold payments ar ground rents, if any, in the manner
<br />provided rU°tder paragraph 2 hereof or, if not paid in such manner, by Borrower making paymem, when due: directly is the
<br />payee thereof. Borrower shat! promptly furnish to Lender all notices of amounts due under this paragrsph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such paymem.
<br />Borrower shall promptly dischazge any lien which has priority over this Mortgage: provided, that Borrower shall not rte
<br />required to discharge any such lien so tong as Borrower shall agree in writing to the payment of the obligation secured Ely
<br />such ben in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien n forfeiture of the Property ar am' pan thereof.
<br />3. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected oa thr Proprrtp iasural
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as lzndrr may require
<br />and in such amounts and for such aeriods as Lender may require; provided, that Lender shall not require that the ameur.t of
<br />such coverage exceed that amount of coverage required to pay the sums secured try thts Mortgage.
<br />The insurance carrier pravidirg the insurance shall fs+ chosen by °crrawer subiect to spar-:Pl b_v L,:n:txr; ;moo.3ed,
<br />that such approval shaft not be unreasonably withheld. Ali premiums on insurance policies .hail ltc paid in the manner
<br />provided under paragraph 2 here,^,f or, if net paid in such manner, by Borrower making gay„ tent, when #;~, di ~~ly t.~ ..~
<br />i~ra>3ce cacti s.
<br />All insurance policies and renewals thereot shall be in form acceptable to Leader and shall Include a standard mongaga
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to held the paiicics and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the :cent of loss,
<br />Bo:rower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss it' nut made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shat! be applied to restoration ar repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repair is not economically feasible or it the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 day's from the
<br />date notice is mailed 6y Ixnder to Borrower that the insurance carrier offers to settle a claim fur insurance benefits, Lender
<br />is authorized to collect a,.d apply the insurance proceeds at Lender's aptiot: either to restoration or repair of the Propetty
<br />or to the sums secured by this Mort. sge.
<br />L`nless Lender and Bo=rower otherwise agree in writing, nny such application of proceeds to principal shall nut extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the anwunt of
<br />such installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and iateresi of Rorrnwer
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Maiatenaace of Peopertyp Leaseholds; Condominiums; Plsn[red Unit Lles'rlopmenis, Borrower
<br />shall ~p L.he P*aperty iu good repair and shall not commit waste ar permit impairment or deterioration of the Property
<br />aitd shall comply wi4tt the provisions of nay lease if this Mortgage is on a leasehold. If this Mortgage ix ou n unit in a
<br />candaminium ur a piaarted wait development, Harrower shall perform all of Borrower's obligations under the declaration
<br />ar cavetaan*s creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or plantted unit development, and constituent documents. If a condominium or planned unit development
<br />rider is «*..-.,rP.; by Borrower and mcorded together with this Mortgage, the covenants and agreements of such rider
<br />vela!! be iacorrarated inYa a.^,d shall ameml and supgiemem the :,ovenants and agreements of this Mortgage as if tSe rider
<br />were a part ieereof.
<br />7. Prottetles oI Calder's 5ecarity. If Burrower fails to perform the covenants and agreements contained in this
<br />biangage, ar if nay anion or proceeding is commenced which materially affects Lender's interest in the Property,
<br />it~htd"trtg, but rte &tnited to, emiaem domain, insolvency, code enforcement, or arrangements or proceed:ngs involving a
<br />tsanitrupi or decrdctst, then Lender at Lender's option, upon notice to Borrower, may make such appeazances, disburse such
<br />xtms arid. ta3ce such actions as s necessary to protect Lender's imerest. including, but not limited to, disbursement of
<br />reamnahtc attorneys fees and entry upon the Property to triake repairs. If Leader required mortgage insurance as a
<br />wr~r3ati#-in of riafrag tl~ lean secured Lw this Mangage. Borrower shall pay the premiums required to maintain such
<br />~~===d -= --~_ °~~ ~- -x'~=-~.. ~ _~- t~~t~>r~tt for suoh i..Us: aa~e terminates in a: caraance with Borrower's and
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