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80--OiG•z63a
<br />l)xIFORM Covsxnxrs. Borrower and Lender covenant and agree as follows:
<br />f. Payment of Principal nod 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 Mortgage.
<br />2. Foods for Taxes and Insonoce. Subject to applicable law or to a written waiver by Lender, Borrower shalt pay
<br />to Lender do the day monthly installments of principal and interest are payable under the Note, until the Note is paid in 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 Propttty, if any, plus one-twelfth of yearly premium installments for hazard inswance,
<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 held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agrf[cy (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 [he 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 t>e paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall tint be required to pay Borrower any interest or earnings on the Futtds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the °~•nds and [he
<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 !.ender, 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 [axes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited 20 Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufbcient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrowershal! pay [o Lender any amount necessary to make up the deficiency within 30 days Som the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of al] sums secured by this Mortgage. 1_cndtr shall promptly refund to Borrower any Fum'
<br />held by Lender. If under paragraph Ig hereof the Propem ss sold or the Property rs otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Proocrty or tts acquisition by Lender, anV Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Sortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note anti paragraphs t and 2 hereof shalt be applied by Lender first m payment of amouns pa}•able to Lender by Borrower
<br />under paragraph 2 hereof, [hen to interest payable on the Note, then to the principal of the Note, and then io interest and
<br />principa[ on any Future Advances.
<br />4. !°harEes; Lies. Borrower shall pap alt taxes, assessments and other charges. fines and appositions attributable to
<br />[he Property which may attain a priority over this Mortgage. and leasehold payments or eround rents, if any, in the manner
<br />provided under paragraph 2 hereof or. ':f not paid in such manner, by Borrower making payment, when due, directly to the
<br />pays thereof. Borrower shall promptly furntsh to Linder a{I non.es of amounts due under thts paragraph, anti io the event
<br />Borrower shall make pa}zneni directly. Borrower shah prompil}' tumuli to Lender receipts evidenemg such payments.
<br />Horsowu shall promptly discharge any Lien which has prsort}' ever [his Mortgage: provided, that Borrower shall not be
<br />requited to discharge any such lien w long as Borrower shall agree ir, wrung m the payment of the obligation secured by
<br />such ilea in a manner acceptabiz to Under, or shalt in good faith rontest Bach lien by, or defend zrforcement of such lien in,
<br />legal ptaeeedings which operate to prevent the enforcement of the hen or iorfeuurt of the Prapeny ar any part thereof.
<br />5. Hazard lawonce. Borrower shall ksxp the +mprovcments Wins e.xistrng or hereafter erected nn [he Property insured
<br />against loss by fire, hazards included wtthrn the term ~'eztended coverage". and such athzr hazards ss !.ender may require
<br />and in such amounts and for such perinds as Lender may require; provided, that Lender shall net require that the amount of
<br />such coverage exceed that amount of cov-ezage requ,retl [o pay [he sums secured ?+~ ;lies Liorrgage.
<br />The insurance carrier providing [he insurance shall ce chosen by Borrower subject t~~ approval M• Lender: provided,
<br />that such approval shall not be unreasonably witltl:eld. :411 przmtums un insurance policies shalt be eaid .n the manner
<br />gmvided under paragraph 2 hereof ar. if not paid in such mantrtr, by Borrower making payment, when due..lrrectly to the
<br />insutaoce carrier,
<br />Ail insurance policies and renewals therec,t shall fx i:: farm ,cccptable to Lender nod shah in.:lude a standard mortgage
<br />clause in favor of and sn farm acctptab{e to I_en3cr. Lender .hail hay.: the tight to hold the poli::tes .end renewal. thereof,
<br />and Borsowtr shall promptly furnish to Lender ail renewal notices and all receitts of r~atd prenvums. In the event of loss.
<br />BOrsowar shall give prompt mtiice =,a tht snsurata~e :arr:tr asd Lender. Ltndzr may make prc•o+. of loss rt not made promptly
<br />by Horrower_
<br />Unlese Leader sod Harrower otherwi;e agree to •vri[tttg, rnsuranx prn~zeds steal! he applied to restoration or repair of
<br />the Property datnaged, provided such rtsuarauou or rmparr ~s ec.oitumrcalty feasible and the securit} of this Mortgage i,
<br />n.H thereby impaired. if retch testorauon or repau rs no[ c,.~r:vmteall} fzasrble or a the secant} of :hrs Mortgage would
<br />be impaired, the insurance praxetds shall ht applied tea the runts scoured by ;hrs 'viortgage, u+th the excess, if : ^y. pard
<br />to $orrawtr. It the Property rs abandautd by B:arrowtr, ,+r :t Beierowtr tabs n, rtspond to 1_erder wrthut .U days from [he
<br />date t[otice is matted by Lender to $v-,rr,awer chat :ire ensuran+:x ~srnzr txltrs tc settle .: claim for insurance l,enr.6ts, (_ender
<br />is authorized Fo culixi at[d app!} the rnstira[ut procteds xi LcnJtr~s optt+:a ettlaer ;o reswrat+on a,r repau of the Prt,pert}
<br />ar to tax sums securtd by this Mortgage.
<br />Utatesa Lender and Harrower r~iht:x`>~ agree sr, wa=.tzng, an} such applic~rtaoa of prr~mtds to {v:n,+pni .hall non mxtend
<br />oz postpone the due dart of the ruonth#) rnstal3tnrnts rift; red to era ; araeraphs t :u[J here n ur ,:hangz the am.wnt n[
<br />wv$r imtallmutts. if utriet patag; aph g htreot tits: Proper', :s acquued h: i_ender, ail right, olio and +.n.erest r.l frCrrF?u L't
<br />in andta an} ta'>uraact polictec end in a;x to the prace~s thtreuz resuL'mg trom damage to rhz Proper:. pr+oa ti, the gale
<br />of aCgUibiitaa shall pass ra Lander is the extent ~,i the ssrrns se>uted ?+} th;s \l vargage .mmeJtatri} poor ~:, ,:cii ,a{e car
<br />acquisition.
<br />L Pt[aaenaYoo rW hftintc>saaze of Prupert}; I.raselwids; 4undor»ituutus; Planned Unit De.ebpntents. Ilotro:,er
<br />shalt ktcp the Property itt good r_pair a_~ud slta"sl aai cztunrit caste or perm,[ impc:,rmen[ or ,ieterrorauun Oi the Pn~pert}
<br />aid shall ~rmply will[ the pravisiorxa of nap !teat :# thas hitar'[gagz ,s wz a itasahatd. It rtes tongage +s ou ., .curt :a
<br />caadominium or a plwaed anti dtwtiapmeat. Bornvwrz steal! pmnona nil of Born,uar's :>63tgatioos a^<ter tom dccl.uatn'~u
<br />or covenants ct;aung ox gov7tmtrrg the .andumrnrant t:r planned uu;t cleveli>pm¢au, the by-laws and rmguiatteo- of the
<br />cwrdomi[[itun ar p~amsed unit dtvtiapment. and c£+ns#uucnt dacumerns. li a cunJominium +x planned iron ,tc:::7apmena
<br />sndrrr is extxtntd ~hy Borrower atxl rtcorded tagtthtr u-st31 th[s Mortgage, the ca:maants end nt;rcemtata , . >,~rch r.cicr
<br />shall be incarp4ratod date and shat{ ataepd and sappltmein the co:euat[[s and agree+uunts &i thu 'vfa,ttgssg~~ an it the : t.ha
<br />were a part hert:of,
<br />7, txote~liaa a[ heaisds Setwfly: If Borrv«ct taus to perior[n the covaatants and agsazmmnu arnta+ned m th,+
<br />ldotigage, ttr Lr any action ar prr~eedittg rs czmxnea<ed which materially rlltctz La:rder'y mtcre>t in the Pzctpurt•,.
<br />iuritdurg.lrut r;t limited tiy, eininept donaitx, sxalwtru'y. ;:ode ~nfe*;czment. or arrangernenu:.ar t*r.=.-ucdingn ,u;,,l+~ng .
<br />baolttvps or deecdent, Then Lender at ixnder's cpiion, ulut., rattsze [c &+rtr=;er~r. nay rnakt su<3t ap{><arsa~ca. d,.,hurWe ~-u: 1
<br />soars anti take, such atsiirn as is oeftssafy to Pro[ut t,t-nd~r? sntc~r+<s~ ,caclu irng. k,ut net trru:r a! ;a~. aishursamcrt :,
<br />reasonable a#x,meys Ices apd eptty upon the Prcvpen} to make rc}zat-rs_ Ii Lend+:r rCquirs:J nxartgagc insui once ,,, .,
<br />c0lldttian esf tualemg flit torn scented lr- ttus hitr~~;fc, Borrower +hs„! t:av t+c prim+mns ~cku;te,i re, n;ainte,:; ,+a,L
<br />itsstuartcs it edccE until such !trot ag the reyv3rem~t far sorb uvuras4e +u.#i,nutes +n .icrcirtla=±,e wash Burr:=.aef, ,.u
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