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<br />Iu NIFQRhS Covaxnrtra~. Harrower and Lender ~ccruenand. taro,! akxc~~e as folinw.s:
<br />4. Payment of Principal and €n(eres& Bormawer isNsad,l'I pp•e:+rntpgl,y pay when due tine principal of and interest c>n the
<br />indebtedness evidenced by fhe Note, prepayment and late charges as provided in the Note, and the principal of aad ir.[erest
<br />on any Future Advances secured by this Mongage.
<br />2. Funds for Taxes and insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal aad interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to ane-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 yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially a d from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounu of which are treated 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 taxes, assessmenu,
<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 app]icable law
<br />permiu 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 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 Burrower, without charge, an annual accounting of the Funds showing credits and debiu to the Funds and the
<br />purpose, for which each debit to the Funds was made. The Funds are pledged as additionat security for the sums secured
<br />by this A:Sarigage.
<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 reyuired to pay said taxes,
<br />assessmens, insurance premiums and ground rents as they fall due, such excess shall be, at Borrowrr's option, either
<br />promptly repaid to Borrower ar credited to Borrower on monthly installmems of Funds. If the amount of the Funds
<br />held ny Lender shall net be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />ny Lender [o Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured b}' !his Mortgage, i.ender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph t8 hereof the Propeny is sold or the Propeny 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, all payments received by Lender under the
<br />Note and paragraphs i and ~ hereof shall be applied by Lender first in payment of amounts payable to Lender by Harrower
<br />under paragraph 2 hereof, thcr. to interest payable on the Note, then to the principal of the Nate, and then to interest and
<br />principal on any Fu[tlre Advances.
<br />J. Charges; Liens. Borrower shall pay all taxes, assessments and ether charges, fines and impositions attrbutahie to
<br />the Prapeny which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Barrawer shall promptly furnish to Lender all notices of amounu due under this paragraph. and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage: provided that Borrower shall not tx
<br />required to discharge any such lien sa long as Borrower shall agree in writing to th:° payment of the obligatiar. secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien hy, ur 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 thereaf.
<br />5. Hazard Insurance. Borrower shall keep the improvements new existing or hereafter erected on the Property insured
<br />against loss by fire, hazazds included within the term "extended coverage", and such other hazards as [.ender may reyuire
<br />and in such amounu and for such periods as Lender may require; provided, that Lender shall not reyuire that the amaunt oC
<br />such caverage exceed [hat amount of coverage reyuired to pay the sums secured by this Martgage.
<br />The insurancr; cattier providing the insurance shall be chasm by Borrower subject to approval by Lender: provided,
<br />[hat such approval shall not be unreasonably withheld. All premiums on insurance policies shall he paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, 6y Borrower making payment, when due, directly to the
<br />ilaStlrantc carrieY.
<br />Ail LnsUi'1rfiCC pahcics and renew'a15 thereof s11sII Lie m farm acceptable to L2ndeC anti Shall lnClUdi' 1 standard mart gage
<br />clause in favor eF at:d in form acceptahle to t.eeider. Lender shall hove the right to hard the policies and rnewats thereof'.
<br />and 13orrawcr snail p.*cmptly fu+rnish to Lender all r.aewai notices and all receipu of paid pratrit;xtts. In thz wart of II?ss.
<br />Borrower shall give prompt notice to the: insurancx aar~ier and I_endcr. Lender tttay make pr,~f of loss i€ nett made prompt!}
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance pmceetls shall be applied to restoration or repair of
<br />the Property damaged provided such restaration or repair is economically feasible and the security of this Merfgage is
<br />not thereby impaired. If such restoration or repair is net econamically feasible or if the secwity of this Mortgage wauld
<br />be impaired, the insurance praceeds shall be applied to the sums secured by this Mongage, with the excess, if any, paid
<br />to Borrower if the Property is abandoned by Norrower, or i( Barmwer fails to respand to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier otI'ers to senle a claim for insurance henefits. Lender
<br />is authorized to called and appl}• the insurance proceeds at Lender's aption either to restorutian itr repair of the Property
<br />ar to the sums secured by this Martgage.
<br />Unlos [.ender and Barrawer otherwise agree in writing, any such applicadan of praceeds to principal .hall oat extend
<br />or postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of
<br />such instathnents. 11 under paragraph li; hereof the Property is acywrcd h} Lender, alt right, title and inter,.~st of Borrower
<br />in and to any insuruntt }rolicies and in and to the proceeds thereof resuluag from damage to the Propeny prier to the sale
<br />or aaluisitian shall pass to Lender fo the extent of the sums secured h} thi, !vlortgage intmediatcty prior to earl! sale ar
<br />acquisition.
<br />6, Preservation sad Maintenance of PropeA~; Leaseholds; Condominiums; Planned Unit De~•rlopments. 8ormwcr
<br />shall keep the Property in good repair and shag not commit waste or permit impairment or tieteriuration of the Property
<br />and sits!! comply with fee pravisians of any lease If this Mongage is im a ieaseltoid. If t'ttts Mortgage is as a amt in a
<br />candaminium or u planned amt development. Barrawer shall perform all of Barrawer's obligatians under the declaration
<br />or covenants creating or guvorning the candominium at planned amt development, the by-laws and regulations of the
<br />condominium ar planned unit development, and constituent dacuments. if a candominium or planned unn development
<br />rider is executed by Borrower and recorded together vruh this Iv9artgage, the cavenanu and agreements of such rider
<br />shall [te incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />7. ProtesHon of Lender's Security. If Borrower faits to perform the covenants and agreements contained in this
<br />Mortgage, or if any action or proceeding is commenced which materially affects [.ender's interest in the Property,
<br />including, but oat limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings im•alving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Bormwcr, may make such appearances, dishurse such
<br />sums and take such action as is necessary to protect Lender's interest, including, but oat limited to, dishursement of
<br />reasonable attorney's fees and entry upon the Property to make repairs. tf Lender required mortgage insurance as u
<br />condition of making the loan secured by tots Mortgage, Barrawer shall pay the premiums reyuired ro maintain such
<br />insurance In effect until such time as the requirement for such insurance terminates in accordance with Barrower's and
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