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<br />U+v[FOaaa Covenaxis. Borrower and Lender covenant and agrce as follows:
<br />1. Payment of Principal aad IMeresf. 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 Mortgage.
<br />2, Fends for Taxes and Ioauratiee. 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 under the Note, until the Note is paid in fuR,
<br />a sum (herein "Futtds'") equal to one-twelfth of the yearly taxes and assessmetts 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, ail 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 sha)I 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). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. tender 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 applipble {aw
<br />permits Lender to make such a charge. Borrower sari 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 nn 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 secu6ty for the sums secured
<br />by this Mortgage.
<br />If the amount of the Ftrnds 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 />assessments, insurance premiums and ground rents as they tall 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 sufficient to pay taxes, assessments. insurance premiums and ground rents as they fall due.
<br />Boroower shall 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 paymene therenl.
<br />Upon payment in full of all sums secured by th+s Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by IxnJer. If under paragraph 18 hereaf the Property +s sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Properro 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 />Nine 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 ro the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay ail rases, assessments and other charges, fines :rod impositions attributable to
<br />the Property 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 />payce thereof. Borrower shall promptly furnish to Lender all onuses of amounts dot under this paragraph. and in the event
<br />Borrower shall make payment directly, Borrower shall promptly hrrnrsh to Lender receipts evidennng such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage: provrdeJ, that Borrower shall not be
<br />required to Discharge any such lien so long as Borrower shall agree in wrung to the payment of the obhgarion secured by
<br />such lien m a manner acceptable m Lender, or shall in good Eaith contest arch lien by, or defend enforcement of such lien in,
<br />legal proceedings whrch operate to prevent the enforcement of the lien cr (ortenure at the Property or any part thereof.
<br />5. Hazard insurance. Borrower shall keep the improvements now txrsting sir hercatter erected on the Pn,pa•m insured
<br />against toss 6y fire, hazards included wathm the term 'Yxtended covtragt '. anD such other hazards as Lender map reyurre
<br />anD m loch amounts and for such periods as Lendtr may reywre; pn,videJ, that Lender shag not reyurre that tht amount of
<br />such .~ovtragr exceed that amount of corerage reyuveJ to pa4 the +um+ secure) ha• ;hrs !t~}ortgagr.
<br />`the insurance carrier providing the insurance shall ht chosen by Borrower subject to approval by Lender: provrded.
<br />titer such approval shall nut be unreasonahty withheld. All premiums on insurance pohaes shall be paid .n tht manner
<br />provrdeJ under paragrrph ?hereof w..f nut part in such manner, by &trrower maicmg payment, when due, drrectly to the
<br />insurance carrrer.
<br />All insurance policies and renewals thercol ,halt tx w loon acctptable to LtnJtr .rod ;hall incluJt a +tandnrJ ntungage
<br />clause m favor of and m Corm acceptahlc to Lender. Lendtr ,hall have the right to hold the pohcit+ and rmvrw als thereol.
<br />and Borrower shall promptly furnish to Lender all renewal onuses ;mJ rill receipts of paiD premmm+. In the event of to+a,
<br />Borrower shall give prompt ntruce w the msur:mct earner auJ Ltnder. tender may make proof of toss d inn m,+de promptly
<br />by Borrower.
<br />Unless Ltnder anJ Borrower oche rw r,e agree m wrung, insurance proeetd+ shall he appheJ !o restor:uiun .!r repau' of
<br />the Properly JamagtJ, prondeJ arch rtslorahon or ra•purr is ceonaunnaily itasrhlt anJ the ,sera} of thu Mortgage i+
<br />..^.ut thereby impaveD. ti such restorauon or repair rs not rcom,mically itasiMe or J the steunty of this Mortgage would
<br />bt impaucJ, the insurance proceeds .hall be appheJ to the sums secure) by thrs Mortgege, with the exec>s, if .+ny, paiD
<br />to Borrower It the Property a uhendontd by Borrower, or ri Borrower lath Io rtsponJ to I enJar wuhm JU daps from rht
<br />Date no4cc +s madeD b} i.euder to Borrower than the msw;ume cau'ier otie^ cu souk ,~ .lean for insurance hentlits, Lendtr
<br />u aulhunzeJ to collect and apple the insurance proceeds at Lerdtr's .,piton either to resiurauun or repau of the Property
<br />or W the supra +ecurexl by thrs Mortgage
<br />Unless Ltnder and Bouowtr utherw rse agree m wrung, any such appheauon of proeceJs ,o pnnupai ,hall nol tstenJ
<br />oe postpone the Joe date ui the nxnuhl} installments referred to sit paragraph. i .uiJ _' hmtol nr change thr ann+um of
<br />such installments. It undw paragraph tK hereof the Properly +s aeywreJ by Lender. all sight, idle anJ uucrtst sit He?rroutr
<br />io and to any msu r,uttt polrnes auJ m anJ to the pr kttds cheroot rrsuhmg Irum Damage In thu Properp poor to the salt
<br />sir .rcyuisrtrun shalt pass to Lendtr to the euent of the wins ,toured ht ihn ktortgaga nnnreJiatciy poor b, itch atle or
<br />acyuisrtion.
<br />6. Presersatlan sad !1ldntrnanct of Property: Leaseholds; ttrudominimna; Plenucd Unit t)esrbpnavus. Itnrnnver
<br />shall kttp the Pr.tperty in go.W repair and shall not commit wash au ptrmu +mp,urnrtnt yr Jetcriu rmun of the Property
<br />and shall wmply with rho prwiswns N an} least rt rhro Mortgage n ~m a Ie.+.+th„IJ. tf Jas Mong.rgt n on ,+ uuu m a
<br />conJominwrn rn e planntJ unit devth,pmtat, Borrower shat! pert orm all of &,rrowcr'a ~,bhganuus ruder the deelaraUon
<br />or covenants crtatmg or governing the condonumum au pinnntd urn dcvelopmtm, the hy,law. ;ual rtgulauon. of the
<br />condominium or planned unit Jevelopnrent, and ronstiuicm clue unrenn. It a conJom+munt or plaunaJ ~~nu .la•r ciapmenr
<br />rider rs executcD try Borrower unJ recnrdep together wrth ihrs Mortgage, the a,vtnants .rod .+grecnrent. .,I wch uJcr
<br />shall be incorporated into anJ shall amend and suppirnttnt the cov tnants ,utJ agreements of th+n Mortgage as d the nJer
<br />were a part hereof.
<br />?. Protectitas of [xtdnr'x Secarity. If &+rruwcr Cads m ptrtorm the ttwcoama an.i agrtcmtnta .ontuncJ sit thin
<br />Mortgage. or i[ any aGUUt sir pnKC•eJwg +s comnrcuec•J wh+.h mattaalh affects I cnJer's uucrrost m +he Pit,pan}.
<br />including. but not limited to, emrntnt Domain, rnsolsency..oJe en h•recmi•ut. or ;u rnrgnntenh or pr4+cccdmts nn-oh mg a
<br />bankrupt or Decedent, then [_ender at Leader's upunn, ulxn nvuce ,~~ Bormwrr, mac nruke suJr appearaucta, drshurse soch
<br />sums end take such action as rs necessary to protect I zndtr'a mrereat, ~octudrng, but our Inruted to, dnbu+=eutent „1
<br />rtasonafile aunmeyC (cos and entry upon ttx. Propcny to make repairs. Ii t code: rryuir=~.I murtgagr rrvur.u+.e a> .r
<br />eonJWOn of making the loan secured 6y thrs Mortgage. Borrower shall pay the premiums reyuutd h, manxa;^ euvh
<br />insurance in cl3ect until such iinre as the rnyvirr:rrtent fur such nuurarr-t tcrmutatev m .+ecarJancc wuh Bo~n~wars and
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