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<br />Untaoxts Cov~~.nxrs. Borrower and Lender covenant and agree as follows:
<br />I. Pa+ment of Principal and interest Borrower shall promptly pay when due the principal of and interest oa the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Noce, and the principal of and interest
<br />on any Future Advances scented by this Mortgage.
<br />2, Funds for Taxes and Insurance. Subject to applicable law or zo a written waiver by Lender. Borrower shah Pay
<br />to Lender an the dap mon[h}p installments of principal and interest are payable under the Note, until the Note is paid in fu13,
<br />a stem (herein "Funds") equal to ape-twelfth of the yearly taxes and assessments which map attain priority over this
<br />Morgage. and ground rents on the Property. if any, plus one-twelfth of yearly premium installments for hazard insuranrr_..
<br />plus one-twelfth of yearly premium installments for mortgage insurance. if any. atl as reasonably estimated initially and from
<br />time to time by Leader on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an insrmtion the deposits or accou»ts of which are insurer.! or guaranteed by a Federal or
<br />,rate agency (including Lender if Lender is such an institution!. Lender shall apply the Funds to peg said taxes, assessments; -
<br />insurance premiums and wound 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 chazge. Borrower and Lender may agree in writing at the time of execution of -this
<br />Mortgage that irzerest nn the Funds shall be paid to Borrower, and unless such a¢reement is made or applicable law
<br />requires such interest to he paid, Lender shall not he required to pay Borrower an}• 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 u~as made. The Funds are pledged as additional security fur the sums secured
<br />by this isforgage.
<br />If the amount of the Funds held by Lender, together-with the future monthly installments of Funds payable prior to
<br />[he due dates of taxes, assessments, insurance premiums and ground renzs, shall exceed the amount required to pay said texts,
<br />assessments, insurance pretttiums and ground rents as they-fall due. such excess shall be, a[ Borrower's option, either
<br />promptly repaid to Borrower or credited [o Borrower on monthly installments of Funds. If the amount of the- Ft,~* r1s
<br />held 6p Leader shall not be sufficient to pay taxes. assessments. insu: epee nremivms and ground rentc as they fall due,
<br />Borrower shall pay to Lender any amount nerxssan~ to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesnng payment thereof.
<br />Upon payment in full of all stuns secured 6y thts Morgage, Lender shall promptly refund to Harrower any Funds
<br />held by Lender. If under paragraph 3$ hereot the Properly rs sold or the Property rs otherwise acquired 6y Lender, Lender
<br />shall apply, na inter than immediately prior to the salt of the Property or its acyuisition by Lender, any Funds held by
<br />Leader at the nine of application as a credit against the sums secured by this Mortgage.
<br />3. Appficatiun of Payments Unless apphcabh law provides otherwise, all payments received by Lender under the
<br />Nete and paragraphs i and 2 hereof shalt be appited bg Lender first m payment of amounts paytrble to Lender by Harrower
<br />under paragraph Z hereof, then to rmerest payable en the Note, then to the principal of the Note, and then to interest and
<br />ptinupal or, any Future Advances.
<br />'. Charges; L'aras Harrower shall pay all taxes, assessmeru and other charges, fines and impositions attributable to
<br />tht Property which may awiin a priority pyre thts Mortgage, and leasehold paymtnis ar ground rants, if any, in the manner
<br />provided under paragraph 1 hereof or, if not paid m such manner. by Borrower making paymcot. when due, directly to the
<br />payer ti:t.s>. Botroaer sYtall pramp:iv furatsh m Lender all ^anccs at amoursts due under this paragraph, and in the event
<br />Bomnu•er shall make payment directly. Borrower shall prompty turnrsh to Lender receipts evidenang such payments.
<br />Harrower shah promptly discharge any hen which has pnanty' eve.* tizz< Moregag~; provrde-d. :hat Barrawer shall pat
<br />rrqutred to cscharge any such lien ~u ipng :zs Borrower shat! ague in u~rmng to the paymen[ of the ob#Sga[inn secured by
<br />su,:h hen in a manner scceptabie :c Lcrder, or snail m goad fa[tn wnzesr su~h itcn b}~, or defend enforcement of such lien in,
<br />itgal grorxdrngs which optratt to prevent the cntorcement of the Ittn or [otletturr of tht Prnprrty nr any par zhenof.
<br />5. I•Iarard Itrsaraace. Borrower shall 4rep zhe tmpmvtim~i*~ na,. extsnsg .~~ n=•-~+tt= ~r-=,t;_t n, •hr aroptr.•. instated
<br />again ~s h}- fez. Hazards inrluaeii wuhtn the tcm °cctenard fgvrtagr ztzu sucn athe.* hazards as Lender may reaeure
<br />iRd m S, +-h '-~, n'-nix! arzd fnr ca_.h rt .. Le,...~ ,. ..-~. - .., ____ -?::.is _- - -
<br />ws ' ^• - - rr~~„= E:~;,.i:. ;` : L_n _r , _ usrc zt:s[ :ba smou nt ~:
<br />su:h cv sgr exceta [hat a.-taunt of cm•eragc rcy recd to pay :ne sums st.^urre by rn:s Mnttgagc.
<br />- -ur? - -reran :d:ne t s ~ -- ~~ :t' -- -tea ass- ~: Ltnae°: pravtdtd,
<br />the;. -v t ~_prev a! sh_il. na[.6e xxnte~,~ahl_ _:LnS~_ __, _ _ _ _ .
<br />... :~ .ra...~ F,a:d ;n :,>v ntanrrer
<br />praviderl undrr paraagraph '_ hereof or, ri not card ;n such manna. h} Barrz,wer making pasTtzent. when due, d:rrcth• to tht
<br />mstrranee cattier.
<br />All insurance policies anti renewals thereor shall he to term aurptsbre m Lender and shall ,nclutic :, standard mortgage
<br />clause in favor of and in fpm a:.cepta6lc in Lendtr. Lendtr shall hs+~r the ngttt u' herd the polictes and renewals thereof.
<br />and Harrower shall prompth• furatstz to Ltadcr ail renew~ai uaucts anc a,l recrtpis o[ paid prcnuums in the event of loss.
<br />Harrower snail give prompt nonce to tht tusuranct earner =std Lendtr- Ltn;:rr ma} t»a#;r t,rt,ni rf Ins .f not made promptip
<br />by' Borrower.
<br />Unless Lendtr and Borrower oche.-wx;e egret rr. ,svtvng. tusuraace procresis shall ~ appfttd ro resturatron or repau cf
<br />the Propam• damagtd, pravidtd such rtstorairan or reparr rs tco»omrratiy ieasrb±r and tart s€4.urtt> at thrs hiangage u
<br />not thereby impau•td. If stick *>Kturauoa or itpau is not ,:nnoz~rtcsity trastblt or +t the stcurnv :+, thrs \fartgagr would
<br />bt imparted. tht ruaw:znce prrn,eeds shall be agplttd to the. sums securtd h} thn Mnngagr. wnh the excess, if nn}'. yard
<br />ea Borrower. if iht Prapertc• rs abandoned rn~ Bnrrawer. ur it Borrc,war labs to rtspond to !.ender wuhtn 3G days from the
<br />date Hance is manta M Lendtr to Borrower that rhr rnxuranre carrier ~tficn to srnlt a cretin for tnsurance txnttits. Lrndrr
<br />is antkzarircd to calltct and apps} the rnsuraacc proceeds at Lenders opunn ettlter to rtsmrauon or reparr of the Property
<br />or to tits stuns soured b}' zhts Mu:tgagc. - -
<br />Unless Ltzufer aua Borrower nthcrwtsr agree in svrlt:ng, an} such applcatan n€ proceeds w prtzripai shall r. o: exeend
<br />ar pasrpogt the dur aate.of the monthly installments rtftrrcd ie in paragraphs ::end htruf nr chattgt the amount nt
<br />such insial#menu. If under paragraph !$ htrtaf the Prgpem~ rs acyuutd by Linder, atl nght, udt and interest nt Bnrrpwtr
<br />in antf to any insurance pa4czcs and to and to tttt proccsxls tharxf resulting from damage u+ the Proper,} prior to the aalc
<br />- - - • ~=~= `~ a--+~ .- ~,..~ -•_~....., V- ..: _u3r:5 acz,#1!C£ , tniz ;v. i,rr€- ~ +tTir7tr~[ai2t1 prlLr [._~ sn£#! Salt (`.T
<br />ac~uN[iz:..:.
<br />b. Presan•aEt#oa and 4iadatznatzee of Property: I.rasclwl[hz: Cattdnminiuats: Plan»td l`ait Lytrt#apmrnts. Bctrowtr
<br />shall keep the Property ita guad rtgair' and shall not cammtt wash or peztmz impatrment ar aettrtnrattan of the Prc+pcrt}•
<br />and shalt comply with the provisions of an} least tf [has Mortgage rs oa a (tasehold. I( zhts Mortgage rs on a amt ru ::
<br />coadaminduni or a platmrai and development, Borrower shall preform all al Barn>wers obhgaunns undrr the drelarauon
<br />or covenants creaWrg or gnvetning the oo»domtntum or planned amt dtvrlapment, the 6y.lawa and rtgvlauans cf the
<br />candominiuat ur alantted unit devtlapment, and ronsutuept daouments. If a candammium ar plsnne~' x::v; .Izeir>int;ent
<br />rider is executed by Borrower and recorded togtthtr with thts hfongage, the covenants and agreements <,1 such ruler
<br />shall hr incarparafttl into and shall amend and suppttment zhe covenanzs end agreements e[ th:s Martgagr as ~i the rider
<br />w.s: a Bart htrtsf.
<br />7. Praturtian of I.tadrr's 5tcursty. If Borrnw•er tabs u, ptrfiarm the covenants and agrttmr»zt cnntarnrd ,n this
<br />Martgaee, ar tt any a4uan ar l:rocrroding ,s :mnttnted which mattriatly alltcts Lender's ,merest to the Pmpem.
<br />~n€l.tdtztg. but Hai 3imirtd tq tniiutut domain, insalvarxcy--, coda entorremtnl. ar nrrangemcnts er prt,cetdings ,m•nlvrng a
<br />'°dankrupt r3r d.~~;#a;t, u`tza Lender at Laadsr's option, upon notce to Borrewer, may maKr such appearances, disburse .such
<br />~m - .mot 'aKt stteh as:uvu us s r>=ccs'san• [o pxi,ttct Lendtr~s rn[trtsi. ,naiudzng, but not Itmved to. d+sbuzsrment of
<br />reaspzzatztt ~attoraeg's tees and entry usx?xx Lht proearzw rn mT~r - lr t...R ..4 : tk,£utred .., .gags :,__ rar,~t --
<br />condztton of making rise loan secured by [hen 42art~g,- g.,;-.,,wet~Eh ti .,. ,.,,nine rt.~r,~, ,.a„ am .•.
<br />instuance ir, rfltt~a until such nine a: the ray utrtmem #or such insurance terminates in .tccoraancr wni, Borrt,wtr ~ s;inti
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