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80,, ~a2sa~ <br />Urrtt*oat€t Coverretas. Borrower and Lender covenant and agree as fellows: <br />1. i~a7raeat of Priaelpl sad Interest. Borrower shall promptly pay when due the principal of and interest on the <br />isdebtedneas 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 Ftari for Taaa aM Iasnanee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay <br />to Lander on tite day monthly installments of principa} and interest arc payable under the Note, until the Note is paid in full, <br />a sum (herran "Funda'q equal to one-twelfth of the yearly taxes and assessments which may attain proriry over this <br />Mortgage,-and gentrnd.rcnts on the Property, if any, plus ant-twelfth of yearly premium installments far hazard insurance, <br />plus Otte-twelfth of yearly premium installments for mortgage insurance, if any, all as reuonably estimated initially and from <br />tune to time by Lender on the basis of assessments and bills and reasonable estimates thereof. <br />21x Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or <br />state agency (ittcltsding Lender if Lander is such an institution ). Lender shall apply the Funds to pay said taxes, assessments, <br />itaemce premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account, <br />or verifying amd compiling said assessments and bills, unless Lender pays Borsower interest on the Funds and applicable law <br />pamita Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this <br />Mortgage that intuat on the Funds shalt lx paid to Borrower, and unless such agreement is made or applicable law <br />tequila such interest to 6e paid, Lender shall sot 6e requ}rid to pay Borrower any interest or earnings on the Funds. Lender <br />shah give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the rods and the <br />purpose for which each debit to the Funds was made_ 1Tte Funds are pledged az additional secutiry for the sums secured <br />by this Martpge. <br />If the arrauat of the Funds held by Lander, together with the future monthly installments of Funds payable prior to <br />the due darts of takes, asaeasmea[s, insurance premiums and ground rents, shat} exceed the amount required to pay said taxes, <br />aasermettts, insutaaee pramitums and ground rents ax they fall dtr`, such access shall be, at Borsowrr's option, either <br />prampNy repaid to Borrower ~ credited to Borrower on monthly installments of Funds. If the amount of the Funds <br />hdd by Lender shag sot be sWTicimt to pay taxes, assessments, insurance premiums and ground rents as they felt due, <br />Borrower shall pay to Lender say amount necessary to make up the deficiency within 30 days from the date notice is mailed <br />b9 Leader m Horrowu req.sesting paymtenx thereof. <br />Upoe payment is fuB of all sums secured by this Mortgage, Lender shad promptly refund in Borrowu arty Funds <br />hrdd by [seder. If under paragraph 1$ hereof the Property is sold ar the Prapen}• ss otherwise acqutted by Lrndei, Lenthr <br />shall apply, tto la[u than iatrnediatdy prior to the sale of the Property or its acquisition by Lender, any Funds held by <br />Linder at ~u timt of appliaxion .~, a ~-tzfii agatzat ihr< xuxrr x-ti-urzi ~• eh~s 3fort~age. <br />3. Apikasisn ~ Ttp~sat timers applicable law provides atherwixe, all pa}mtrnts received by Lendu under t{te <br />Ntut sad paragraphs I and ?. hereof shall tse applied by I_codcr first €n payment of amounts payable to Lender by Borsawer <br />wader paragraph 2 hector, rhea to inurest payable am the Nott. then to the principal of the Note. and then to inttrat and <br />principal an any Future Advances. <br />i. ~ Ltts. Borrower shall pay all taxes, assessntrnts and other charges, fitres and €mpositinns attnbutab}e to <br />the Prcpaty whirl. zany strata a priority aver this hlortgags, and leasebo}d payments ar ground rents, if any. in the manner <br />provided under paragraph 2 hereof ar. if not earl in such manner. by Harrower making payment, when due, dimtly to the <br />payee thuteof. Bortowu shall promptly furotsh to Lrnder all noares of amounts due ttttder this paragraph, and in the event <br />Bormvser shall make payment dir€xdy, Harraxxer shall grompiiy tumtsh to Lender receipts evidenang such payrrxnts. <br />Borrower snail prampdy discharge any tier which has przortty over this Mortgage; provided, that Bez7owu shall net be <br />tequirad m discharge say such litre so fang es Harrower sha13 agree in ti<~rtnng to the payment of rho oh:igatian secured by <br />stack rim, is a maned aatpuhk to Leader, o; shall in gaol faith wntest such lien by ~ ar defend enfan'etzxnt of szzch lirn in, <br />kga1 proceedings whah operate to pttvmt the eafatxxment of the lien at fotfcuurc of she Property or any pan thereof. <br />S. Heard laaaannee. 8otrowsr shall ktzp the empravemtats now existing er hereaficr erected an the Property insured <br />agaitat Inca i', 5re, hazards iaclttded widsia the term "cxrcttdcd coverage", and such other hazards as Lender may reywre <br />sad in such amotmts sad for stash puiods as l.enr'^r may requite; pravidcd, ;hat Lender shall inn require that the amount of <br />such cpvetage record that amount of coverage requ+red [a pay tare sums soured by this Mangage- <br />iLe insutssce cattier providing the insurance shall bt chosen by Borrower subjixt to approval by tender, provided, <br />that welt approval shall trot be utsteaswsably wirtthdd. Ali prertuums an insurattc~ paiicies shat} tx paid in the rnantxr <br />pvxwided wader psragraph : ttettt~ ar, t7 not paid in such mazmer, by Borrower tttakang payment. when due, directly to the <br />inatttanoe Carrie, <br />!1B imraasret policies sad rmetvals thereof shall be rn faint accsptable zu i.ender a.nd xhall utciudc a standard mortgage <br />cleat ~ favor cd and is form acceptabLc to Leader. Lender she}I have the rsgtst to }told the policies and rttrtwals thereof, <br />sad lsrrotatt xhall proasptiy foretell to Linder all rerte+s.al natsces sad all rei~ipts of paid premiurm. !n the evtnt of losx, <br />lo!rrowns[ Mall givt prompt tsotitc s tht iaau*attct ~rrxr amt l c x~r_ Ix; :Ur „ ag n;okr ~ ~, ,,: less ;i :rat :na'„~° err=saWli <br />~~ <br />lltdda Leader sad Btxxowa athetv.uc apt~e in r ritiztg, inxrraztee prsctxsLs snail be applied to reswwraiivn or repair of <br />the PrttOeny dataaged, provided stmt restoratiirn cv repair is eontaataica}l}• feasible and the se.urity of this itangage €. <br />tsar t-m1l:y istysairorl 11 stxh t€esteuatintt of tepsir is oat r-;orwnti:^~}ty ft~ ibie w sf the sa€zunzy of this ~turtgago would <br />bs impaired, the imtutanc+e ptacotda shall bt applied tiv the .sums secured by this Mfxtgage, wzth the excess, if any, earl <br />m porzorcr. if the Property isatZzatstkvsed by Btvrr~,vtr, ~ it Bosrowtr Earls to rtspand to Ltndtr within 30 days front the <br />dart aoti-ro is mailed by La•adrr xo Botttvwu that t5€e itssuran.-e earner odtrs to stale a claim for insurance ixnefits, Lender <br />as antMoriasd xo +'x~ttt sad apply the iusuratsae proceeds at Lender's .grion euh; r to rdwratiort ar repair of the Pmpertp <br />or to tie sore castled by tops llirtetgag¢, <br />L'aiiaa Leader and Botrxwtr othrrvise agree tit vs3itirtg, an} su;-h apptiwtitm of prcxeeds to principal shall nut cxtond <br />•ar paapoae tbt da. doe o.' the narn=',.° mfr' six ='terr~ try sr€ paraaraptis I sad '_ hertof ar change the amwnt ai <br />such - If uudea pairagraph IS hertof the Ptxaptrty is arqutr~ trr Leader, all tight, title and inzereat of Barrawer <br />and td say iaststancs palms and is and to the pra~sxuds thtroof resut,l~t,ing Tram damage to the PropenF pr+ar to tht bole <br />ar-aGlOnaaOn shall pnu to Ldsder to ihC t-~'eent i'df £lk xrriai scented "J this Mangage rt7ttT)edlltel}' pP€ai SO such JaIC Or' <br />t~ lyaar*ntiaa.aa~ IMr~ace of J; 1<'asNrnldr: Caadaaiairrr~ Ptttwaed trait Ikvetapsaeittls Barrarver <br />tdall keep tot Property ~ good repair sad .shad not ~mmit waste ar permrx itapairrttoat at deterioration of the Propen} <br />and. shall zti-rpplY s`~ F+vrv' ~ arty lease sf thz= +a8artgagc n ~rtr a drwsctscrSd. li #tts lkxarxgagc is au a €miz in a <br />ca+adaaripnt~ r. r+r' a plar+ntt~. tract.sits-omprueat, Bcxrow~r sftnl3 prrfearm ail 02 Born,Ker`s :,t.+lsg:tuuns under the dex:tarauon <br />ttr txrvmaata erwttag or gttverniag the condtxruaium ar plamud unit develagntcnt, the by-laws and regulatio:ta of thz <br />itua or piaswpd unit dewvtltvpltreat, and cottraitzscar documents. !f a <on.iominitznt or manned t€att ifeveloprnrnt <br />trite' is ta€or^axtod by Borrower and ruordod zogztttez w.tis this M:,rytage, tlrc eavenania sad ;iga4,emeat; of such rider <br />slsaY b4 iocarp!nratetl ittW and sAttll atsttztd_a '.;nz t3ec >avcnanis ark} agrra:titertts c:( this M,srtgaie xx €t the tilts <br />caste a prat 6etssttf. <br />~+ ptitlircllaa t[ I,artd~Ys It Butsnwer fads to pufarm t)se cYrvea~snts and agreenicnis cantairted tit thtc <br />lrcitt{a4c, or it aoY atlinp cw prtr,raetsiing ,s :orntorns~d which matoriall}° sleety I._enriea's interest in the Prapen}, <br />bid ntl:~r+iNrdtu, ttuiartti da~rga:rt, axtpvtnr} :sic rri3arccrneit, of .arraugrtz:enis ar pruecdings tncaly°ine a <br />of d6et~t-xt~ ahem ! t~ez ai t.dra'x opicrst, a~.+n nsrnx au Bc,rrw -. ins} retake szseh appearau:.ia, diahursc such <br />rtaW alai taste stall actiert as rs acc•~sat-p to pratr~t. L~ckuier',s ,nzer~si, .i .u5zng, but €n,t limucd ta,, c!€sbursernent t:; <br />ntaroaabla attarnsy"s fen sad ry upr.z the Property za tna3:¢ repasts. It Lender tt,}uttt~i miattgagi ienuratice a+ a <br />cnrtdir+an. of tttaluag xirt loarrt sectued by this Mortgage, Berrcw-cr sha31 pa}~ t}ze premtrttita r~qt€ red ts~ ntaine.r€r: 5,€;;.tz <br />uratra~x in c~KY ut~ such rinse as the tequiretneut f€u au.lt artt•,t:as.it tcrininatis is acardar e with Barz ewer s and <br />