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<br />UtrrFOaM Cove>vaNrs. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Pdncipsi and Interest. Borrower shalt promptly pay when due the principal of and interest ort the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of atsd interest
<br />on any Future Advances secured by this Mortgage.
<br />Z. Funds for Tares and Insanace. Subject to applicable law nr to a written waiver by Lender, Borrower shalt pay
<br />to Lender on the day monthly installments of principal and interest are payab}e under the Nofe, unlit the Note is paid in full,
<br />a stun (herein "Funds") equal to one-twelfth of the yearly taxes and assessmenu which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelkh of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments 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 estimates thereof.
<br />The Funds shall be hetd 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 instimtion). 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 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 on the Funds shall he 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 Aorrower 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 Mortgage.
<br />If the amount of the Funds held by Linder, 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 required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they Call 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 />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from The date notice is mailed
<br />by Linder Yo Borrower requesting payment thereof.
<br />upon payment in full of all sums secured 6y this Mortgage. .Lender shall promptly refund to Borrower any Funds
<br />held by Gender. If under pazagraph Ig 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. all payments received by Lender under the
<br />Noce and pazagraphs 1 and 2 hereof shall be applied by Lender first in payment et amounts payable to Lender by Borrower
<br />under paragraph Z hereof, then to interest payable on the Nure, the r. to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Burrower shall pay all taxes, assessments and other charges, fines and nnpositions 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 />pzovided under paragraph 2 hereof nt. if not paid in such manner, by Borrower making payment, when due, directly to [he
<br />payee thereof. Borrower shall promptly furnish to Lender al! notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly fumisb to Leander receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has pnonty over this Mortgage; provided, that Borrower shall not be
<br />reyuired to discharge any such lien so long :ts Borrower shall agrcc in wriunG to the payment of the obligation severed by
<br />such lien in a manner acceptable to Lender, or shalt in good `with contest such lien hy, or defend enforcement of such lien in,
<br />iegai proceedings which operate to pternt [he enforcement of the Lan or forteiwre of the Property ur any part thereof.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended .overage", and such other hazards as Lender may regmre
<br />artd in such anwunts and for such periods as Lender m~.ty reywrc; provtded, that Lender shalt no[ require that the antvunt of
<br />such coverage exceed that amount of coverage rcqutrcd to pay the corns >~~eurcd by thts Mur4^agz.
<br />The insurance tamer providing rho insurance sh:dl 1'< chosen by Hurn»ver ,uhjeot to approve! hp Lender, per+tded.
<br />that such appravai chef! not he tunrea~onahly withheld, r1L palmaams on insurance policies shah ce paid ,n the rttanncr
<br />provided under paragraph 2 hereof ur, tf not paid in such manner, by Borrower making payment, when. due, dvectiy to the
<br />insurance cazrier.
<br />All insurance policies and renewals thereof shall tx iu form acceptable to Lender and shall Include a standard mortgage
<br />clause in favor of and in form acceptable to Lender Lender shall have the right to hold the polieiea ,ntd rcrcw als thereof.
<br />and Borrower shall promptly furnish to Lander all renewal notices and ul( receipts of paid prcmunn+. In the went of loss,
<br />Borrower shall give prompt notice m the insurance carrier told 1_ender. Lcndcr may make proof of 14ss rt not male promptly
<br />by Borrower.
<br />Unless Lender and Horrowcr nthenvise agree tit writing, itnurance proceeds shall be apphed to rzaturation or repair aF
<br />the Property damaged, provided such restoration or rcp:ur is economically feasible and ti?e ,ecunty of thts Mortgage is
<br />not thcrcby impaired. If tiuch resuxatien or repau is not economically fumble or it the scaun} of !hm Mortgage utndd
<br />be impaired, the insurance proceeds shall be applied to [hc xwns secued by tins Mortgage. xnh the excess, it .uty, pawl
<br />to Harrower. If the Propetty is ebundoned by Horruwer, or it &xmwer tails to rwpoud io Lcndet within 1u Jays from the.
<br />date notice is mailed by lender to Borrower that the ;nsurutce arrrier otter, to scale a rlamt for ~nxuintcc henetits. Lendor
<br />is mnhonzcd to collect and apply the nuurauce proceeds tit Lender's vfnem mthcr to restnraimn or repair of the Property
<br />its to dtc sums accused by this Mortgage.
<br />Unless Lender and &uroxer otherwise agrcc .n wnurg, :m} such application .a pn'ceed, to lu mapal .hall nut extend
<br />or postpone the due dale of than monthly insta0mlm-s ~cfzra•d to m paragraphs i :utd '_ iloreoi or ch:utge ~Ite amount of
<br />such iusiallnteuts. It under paragraph 18 herzut the Propzrt} n :myuuld fir Lender, aft nght, udc and uucizat of Hot n+x lr
<br />in and to ;my insurance pabciea and m and to the prulreds thereof resulting front d;uuage R+ 4tl Pn+Ixnv poops to rfic sale
<br />or acyuisttiou abaft pass to Lender to tlw extern of the aunts serurvil by flu:, Mortgage ^umed~ately pout i~, ,ooh ,+de ,u
<br />a[.quisnion,
<br />d. Preserr atiun aztd Staialenaelce of Proprrt}; heaselwids: ('ondominimnst Plauued Unit I)evclupuu•nis. Hm w+a rr
<br />shall keep the Pwpcrry in ghid repair rind shall not eanuuit waste or permn unpaonrcnt ar deterita -aeon at the Property
<br />and sludl cumpll' with the provivous of mt} Inasz ~t the Mortgage ~, on .~ Icax~hald. II rftG '•laitgagc t, ,ai ,~ :nut w ..
<br />cendpminium v, a pl~yited amt Je+eluputent, Borrc x-er shall pcriorm all tit Bor rswet's ohbgaunns under the dcei.uaU,m
<br />ur lavenants creating or guvm`mag the candommmm ur plumted unit Jev-elupumnt. the: by-lines anJ rcguluuonn +.t the
<br />condomuuum or planned amt developmcnt..md :onsunicm doaimcnis. li a t.nu4auinium ur planned unn Jwclopman
<br />seder a cxa:uttd hy' Bortirwer and tear; ded :.+GZther with ihn Mortgage, the ,: avlna nix and agrllmcnt, .,t such ndc~
<br />ahail be meorjwrated into and shall amend .utd suppiemem rite eo. atauta .uul ugt ccuients of the Mortgage as .1 the ndci
<br />were a part hzrcuf.
<br />7. Protection tit Ixadtr's tiecurity. 1t Hun owes tads to plilunn the cocmuuus tout ,:gi dCntcuts s.nu:caned m uus
<br />Mvt[gugc, or if any aeuon or pnxccdmg s ..ommenccJ xhi~h nuderiall} .dta.h 1 cutler's ~.nierc,t m die I'~aI><~n..
<br />including. but no[ liuvted to, eminent dogwin, utsoiecn,y, utde cut., reeull nl, of -u ~augancuts .n pnnecdinys mcul+mg u
<br />bankrupt ar deecdent, then lender tit Lcuder`a ,~puun. npuu n„U CC to lion ox aL mat ninkc such .,pl>Gara u. r,_ dnlunx su; h
<br />sums roof tako such action .u is necessary 0.+ protect Lender-s ,ntei est. m.:Iudmg, h]. not Looted ;.. dshui sentc-ui of
<br />reastsuahle atianwy's lees and entry upon the Pr.,jre n} tp mreke tcpa;r s. tt !.„udci ~r ,c.i a~,,,±gugu :nun :uxc ,~, .
<br />..ondmuu of rn:tkmg thz luau sltured by the, ~f of [cage. Unnua.-r shah the p: auun ne ,cyriied in m:unt.nn .u .
<br />ita[sl.antF -n cttelt anti. Tt:in titil4 :t- ?ill t..t{U1tvr31ent !~: ,th:h Ins.'. a,.:_ ,~,- t,,"~,~., '-. :..:..a~.. -: i.-1 llt+..~- c.'. :...u
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