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<br />JNIFOAM Coverratvrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Pdrrclpal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mottgage.
<br />2. Funds for Tares seal Irrstrranre. Subject to applirzble law or to a written waiver by Lender, Bortower shall pay
<br />to Lender nn the day monthly installments of principal and interest are payable under She Noce, until the Nofe is paid ir. full,
<br />a sum (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 yearly premium installments for mottgagc 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 estimates thereof.
<br />The Funds shall be Geld in an institution the deposits or accounts of which are insured or guaranteed 6y a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shalt 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 applirzble law
<br />permits Lender to make such a charge. Borrower and Lender may agree is writing at the time of execution of this
<br />Mortgage that interest un the Funds shall be paid to Borrower, and unless such agreement is made or applicable ]aw
<br />requires such interest to be paid, Lender shall no[ be required to pay Borrower any interest or earnings on the Funds Lender
<br />shall give to Burrower, without charge, an annual accocnting of the Funds showing credits and debits to the Funds and the
<br />•- pur{x+xe for which each debit to the Funds was made. T'he Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lrnder, together with the future monthly installments of Funds payable prior to
<br />the due dates of trues, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they full due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower un monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not 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 defiaency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, 1_ender shall promptly refund to Borrower any Funds
<br />held by [..ender. IY under pzragraph l8 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply. nu larer than immediately prior to the sale of the Property ar its acquisition 6y Lender, any Funds held by
<br />Lender ar the time of application as a credit against .he sums secured by this Murgage.
<br />3. appBrerifoa of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lcndrr first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Notr, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; [.loess. Burrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this biottgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof uc if not paid in such manner. by Bu: power tusking payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts Jue under this paragraph. and in the event
<br />Borrower shall make payment dtrreth•, Burrower 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 nut be
<br />required to discharge any such lies so long as Burrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, ur shall in good faith contest such lien hy, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the rnfarcement of [hr lien nr furfenure of the Froperty or any part thereof.
<br />~. '>Llazard losurartte. Burrower shall Acep the improvements naa- existing ar hreeaftee erected an the propre[v insurrtl
<br />against loss by Err, hatarda included within the tarot "extended coverage", and such o[htr hazards as Lrnder map require
<br />and in such amounts and far such periods as lender may reyuirc; provided, [hat Lrnder shall nut require that the amount of
<br />such a:overi,{tr e:cce;rtl that amour[ of coverage reyui[rd to pay the scans secured by thrs Mongagr.
<br />The insurannce carrier providing the insurance shat! hr chosen by Borrower subject to approval by Lender, provided,
<br />that such approval shalt no[ be unrrasonab[y withhald. .4ii prrt+.uums on insurance polictes steal! t±r pa:.i n+ the manner
<br />pn+vtded under paragraph ~ hereof or, tf net pats! in. surh manner, by Burrower making payment. when due, s=.irr.:tly to the
<br />insurance carnet.
<br />Ail insurance policies and renewals thereof shall be in lurm acceptable m Lrnder and shall inciudr a stuadard-martgaga-
<br />clause m favor of and ut form acceptable to Lrndm-. L.endrr Shull have the tight to hoW the policies and renewals [hereof.
<br />and Borrower shalt promptly furnish to lender all renewal ounces and all receipts of paid premium,. to the event o[ toss,
<br />Bortowrr shall give prompt notice w the insurance catnrr anti Lender, t.endrr may :nuke prcwt of lass of not rnadr promptly
<br />by Borrower.
<br />Unless Lender and Borrower othrrwtsr agree in writing, insuranco pnneeds shall br applied to rostorrutiun or repair of
<br />the Property damaged, provided such rrsturation or repair is rcunomical[y feasi6lr and the security ui this Mortgage i.
<br />nut thetrby impared. If such restoration ur repute is not a•uaunuically (casible or i( dce security of this Mortgage would
<br />6r impaired, the insurance anxeeds shall be applied to the scans secured by this hiurlgagc, weth the excess, if any, patd
<br />to Sorruwer. U the Property is .ehandoned hr Burrower, ur it Borrower fails to respond to t-ender wethin )(1 days from the
<br />date notice is mailed 6y Lrnder to Burrower that the insurance currier nffres ro soalr a claim for instuauct txauefits, Lender
<br />is authorized to col=act and apply the tnsurance proceeds at Leader i upuun etcher tv rcsturtteun ur repair of the Property
<br />or to the sums secured by this blortgagc.
<br />Urless Lrnder and Borrower otherwise agree m welling, any such application of pra>verds to l,rmapul ,hall nut extend
<br />or postpone the due data of the monthly instatipments reftrrod u+ in paragraphs t and ' herra>E or :hunge t,>z antnunt of
<br />such installments. It under paragraph iii hereoY the; Property is ucyutrrd by Lander, all ngltt, title anti tntctrst of liorrowrr
<br />ip and to any insurance Ixtlicirs sled in and lu tM prtx[xtds theruut [rsulung from damage u+ the Property prior to the sale
<br />or acquisition shall pass to L.rndrr to the extent of the aunts secured by this Mortgage immediately prior a. such sate or
<br />acquisition.
<br />6, Preser.atlsta at3t! !Rlsigtettap+:e of Peupetlf~= l,rasehnlds; r_:trttdnnrinlutnsl Plaart4y! lttalt 1~velrtptp€at*. Lh?rrowsr
<br />shall keep the t'rupr:rty in gwd n,pair and shall not s:ommit waste ur permit tntpairmrnt or drtrrioration at the Property
<br />sled shall Comply with the provisions of any lease tE thrs Mortgage a tin a leasehold. [f this Mortgage is tin a unit in a
<br />cundomtnium or a planned unit development, Borrower shall perform alt of Borrower's ohhgntians under the dechtrrutiou
<br />ur covenants coasting ur guvrrntng the a,ndamtnium ar planned nett devrlopturnt, ihr by-laws and ngettatiuus of the
<br />cundominierm or planned unit davelopmun.:utd constituent documents- li a eundominium ur planned unit .trvelupneeut
<br />rider is executed by Borrower and recorded together wtth this Mortgage, the tt,vrnunls and agrerntrnts of such rider
<br />shall be incorporated into and shat) amend nett suppienren[ the covenants and agreements tit then Mortgage es ii' the rider
<br />ware u part hereof.
<br />7. Pro[ectlau of Lender's Security, if Burrower fails u, perform the eovrnanis and agreements cunGeiued in this
<br />Mortgage, or if any action of proceeding is cnmmeoced which materially :effects Lender's imerest in the Property,
<br />including, trot nol limited to, eminent domain, iusolvrncy, eodc rnl'orcmnent, or arrangrnrents or prucecdings involving a
<br />bankrupt or decedent, then Lender at Lender's opuwt, upon notice tv Burn+wer, may make such appearances, disburse such
<br />sums and take such action as is nea:essrtry to protest Leader's interest, metuding, bin not limited [u, disbursement nt
<br />reasonable auomey's Ears and entry upon the Property to make repairs. i[ Lender required mortgage insurance ac a
<br />cunditiun of making the loan secured by Chi hlortgagC, Burrower shall pay the premi[nns required to maintain such
<br />insttranee in eflec[ until such time as the reyuirentent fur such insurance termina[rs m accordance with Borrowur's wed
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