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30._ OU4221
<br />J:s:l=annt C'avEtrnMS. Harrower and Lendec cevtnant and agree as faltuws. _ "'
<br />1. Pa}Ttsen[ of Principal sod Interest. Borrower shat! promptly pay =.-hen due the principal of end interest an the
<br />indtbttdness tvrdtncod by' the Note, prepayment and rate charges as provided :n the Note, , rid the p:incipaf of and interne
<br />on any Future Advances xcurW by this Mongage.
<br />2. Fonds to: Taxes ¢¢d Itss~unnn. Subject tc applicable taw or to a written waiver by Lender, borrower shalt pay
<br />to Lendtr on the day monthly i.'tsta7lmems of principal and interest a« myablc under the Nore, until :ht Nate is paid in full,
<br />a sum (herein "Funds' equal to one-twelfth of the yearly taxes and asscszmenrs which may attain priarity over this
<br />Mongage, and ground rrnts on the Pmpeny, if any. piers ahe-twelfth oC yearly premium instniiments for hazard insurance.
<br />plus aac-tweffth of yearly premium inuaiiments fo: mon¢agc insurance. if any, all as reasonably estimated initiall}• and from
<br />time to time by Lender on the basis of assessments and trills and reasonable estimates thereof.
<br />The Funds shall be held in an itutitntian the deposits or accounts u( which are insured ar guaranteed by a Fcdtral or
<br />start agenry i including Lender if Lender is such an institution). Lender chap apply the Funds m pay said tales, assessments,
<br />insurance premiums and ground « nu. [.ender may not charge (or sn hnld;ng and applying the Funds, analyzing said account,
<br />or verifying and compiling Said assessments rind bibs, unless Lender pays ilorrmwer interest on the Funds and applicable Saw
<br />pcnnits Lender Ic make such a charges Borrower and Lendc: may aercc in wtibna az Iht time of ezccutian of this
<br />Mortgage that irterest on the Funds shall be paid to Borrower, and colas such agreement is made or applicable law
<br />«quira such interest to t:e paid, Lender shall no: he required to pa}' Bmr+wer anp interest or earnings on the Funds. Lender
<br />shall give to Borrower, w~itk out charge, an annual acrnuming of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to t}•.e : cods was made. The Funds arc pled god as additianal security fo'r the sums secumd
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the !coot 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 razes,
<br />asseumems, insurance premiums and groun6 rents as they fall due, such excess shall be, at Borrowers option, either
<br />promptly repaid to Borrower or crediicd to Borrower bn monthly instailinents of Funds. If the. amount of the Funds
<br />held' by Lender shall not be sufficient to pny taxes, assessments, insurance prrmiums 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 Leader to Borrower requesting payment ahc«o(.
<br />Upon payment in foil of all sums secured by this Morigagc, Lender shall promptly refund to Borrower any Funds
<br />heidBv Lender. If under paragraph IS hereof the Propvh' is Bald or the Properly rs otherwise acquired by !.ender, Lender
<br />Shall apply, no later than immediuely prior to the salt of the Prapeny or its acquisitian by i.endcr, an}' Funds held by
<br />Lendc at the time u[ application ax a credit against the sums secure) fry this Mortgage.
<br />3. Application of Paymcnu. Unless applicable law provrdes athcmo-ise, all payments rcceis•ed by Lender under the
<br />Nou and paragraphs (and 2 hcrcof shall be applied by 1_endtr first m paymem of amounts payable la Lendtr by Bo: rower
<br />under p-eragraph ?hereaf, then to inures[ payable on the tiote, Then m the principal of ds Note, :rod then to interest and
<br />prinapal on an Future f dvances.
<br />4. Charges; Liens. Borrower shat! pav all C,zex, a ssments and other charges, line. and impnsiuons aunbutablt to
<br />the Property which may attain a priority over this Mortgage, and Icasc•hnld p:q menrc or gm~end rents, if any, ir. the manner
<br />provided cadet paragraph :hcrcof nu d not paid m such manor r, by liorrowrr making paymeat, •a lice due, drrctly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices cf amounts ,iuc under this p:tragreph, and in the event
<br />Bariowtr shall make payment drrcctly. Borrower shall promptly Rrnnsh !n I ender reccip!s r: uicncmg such payments.
<br />Borrower shall promptl}• discharge any hen which has priarity over This .'.lariga,_e p 7vi.icd, lilac Roc rower shall r.a he
<br />regwrcd to i!ischargt aay such lien se long as Borrower shall agree is :,~um,,e ^+ d:e hayutem of the nhl:ga;icn, sccarce.
<br />such lien m a manna acceptable to Lender, er shall m gaud (with camrst sudt Gen hv, nr defend cn: crcemcrt a[ arch iron ut,
<br />legal pNcecdings •.vhich operate to prevent the tnforcentent of the btu err furfertmc of the I'ropcrty or any part thcrcaE.
<br />5. Hazard Insumnee. Borrawer shall keep ties unprv,~enums naw eri•ting nr i:crcafit. c coed ert the i'rcper n' msn«d
<br />aga;ns[ foss by fire, hazazds included within tltt term "eatc::deJ cos eragd'. loci loco n; lilt hazes; ds as tndtr rr :rqui:c
<br />and in lath amounts and (or such periods as Lendtr may rrgw c1 pnn-rdcd, ;'not Le :hail not rcqu:re ti:at Ync mnuunt of
<br />such coverage exceed that amount of covcragC requred to p;n•rf he writs san.uad by tilts SL:m;gao.
<br />l'nc insurance carrier providing the insurar,<c shah he chasm by Roc-, a::,~cr .object hr :,pprnvai he Lender, p n-r clod,
<br />that s:uh approval sha'.l not be urreasar.ably withheEd. Ail premiums un is s.r, .+- c p,~+iicrrs ~.i - r,a,d ,n .he manner
<br />ptgvided under paragraph 2 hereof or, if nut paid in such rtam,cr, by Or+rrower making pavrnetrt11when hue drrcctly tc. rite
<br />insurance carrier.
<br />Atl insurance politics and tenesv:ds !boreal shall he in loon a atpt.rbk ro LenJci ..rid shall :ncludc a uulard nuxtcagc
<br />c(aust m favor of and in form acceptable fa Ltnder. Lender sh;dl itner nc~ right to hold the policies and renew a!s thereoL
<br />and Burrower shall promptly furnish to Lendtr ap renrwai notrces and :JI rcccrpts of p.uJ tuennuurs. lu tic c.au of loss,
<br />Borrower shall give prompt notice to the insurance testier ;rod Lender. Lendtr n„v make;+r,+,u ni ;ov rt nut made prampti}
<br />by IIorruwer,
<br />Unless Lendtr and Borrower otheMise agree in erttmg, insurance prurerd. .hall he ap;*heJ to resnrc orlon n repair ei
<br />the Property damaged, provided such restoration or tcpa~r is ccunonncilh. orbit amt the satusug of thn titortgagc rs
<br />not thereby impaired. If such restoration or repair is riot ctunumrcahl Icasri+ie or r( the scaur.ty of Ibis \lorlgagt .vuuld
<br />bt rmpaatd, the insurance procttds shall be applied iu rhr sums sea. red 1:. rho Aongagc, wth :hc c~ress, ii ny, pa:d
<br />to Borrower. If the Pro~rty is' abaztdated by Borrower. u::I Bor. n,c er Inds ro ictip.rnd In Lrndu :v,thur 30 days from ILc
<br />date notice is mailed by Lender to Borrower that the insurnnce earner often ru senlt ;, ~., r n for r: ,uranac oc petits. Lendtr
<br />is authorized to collect and apply the insurance prvcceds at Lender's option cnhcr w reslnrauun ur repair of the Proprny
<br />or to the sums secured by this Mortgage.
<br />Unless Ltnder and Borrawer otherwise agree m writing, an}• such apphr,rfinn „f pmtceds In pnnnp.ri ahaii nut octend
<br />ar posiprnx rho-due date of the monthly instalimtms referred to in paragraphs i :rod '_ ha cut u: change the amount of
<br />such installments, 1C tinder paragraph ($ hereof the Proixrty is acyuirrd h~ Lender, ail right, title .u,J intern; of Borrower
<br />in and to any insurance policies and in and to [he proceeds thectol tnulting Inns damage m the Propenq r,nnr to the sole
<br />or acquisition shall pass to Ltnder to the extent oC the sums secw~eJ t,} ibis Atnrtgagt unnudrutly poor to larch ,alt or
<br />acquisition.
<br />6. Presercatinn a¢d Maintenance a[ Property; L.easehulds; Condominiunt+; i'Inone,l knit Uevelupmcnts. ftorro,a~cr
<br />strati kelp the Property in good rytair and shall not commit waste or permit inyuonncnt nr dturiuration of U,c Propuq~
<br />and shall comply with the provisions o[ an}' Rase i( thu Mortgage is on :r 1t;nthuld. li ILis ~f or tgagc rs un a unit in a
<br />cvndaroinium or a planned unit development, Borrower shall pcrfonu nil n! tiarraw-er's nbl:g.rtruns mrdcr Ulu dcdamuon
<br />or covenants ere:uing oz governing the condominium or planned unit dcvchgnnent, the byl;nvs and regulations nC the
<br />condominium or planned unit development, and cmutiurent Jocumems. If n condominium or planned unit J~_. rlopntcnt
<br />rider is executed by Borrower and recorded together with this hkntgage, Lire covenants and agrcemenls of such ndtr
<br />shall bt incorporated into and shag amend and supplement the cactnants and agreements of Ihrs biorigagt ;rs rl tbu rider
<br />-were a pan hereaf.
<br />7. Prolectlon of Leodtr's Security. If Borrawer folk .u pcrinnn the cavanuus and agreements ,:ontamcd w this
<br />Mongagt, or i[ anY action ar proceeding is commenced which materialh' al',ects Lender'x ,merest i r the Property.
<br />including, but not limited ta, eminent domain, insolvency, code cn for a•mem. nr arrangements ur procttJrings unvivmg a
<br />bankrupt or decedent, then Lendtr at Lender's option, upon notice n+ Rnrrowrr, oral make such :q,prrarancts, ,iuhunt such
<br />sums and take sash action as is necessary to protect Lender's imm~•st. nrcluding, but nut liauud In, <hsbu rsemtnt :+.
<br />rtasonabic attorney's feea and entry upon the Propeny W maker arr.. 11 I cedar rcyuircd : nu„age i,ruu:mce m ,
<br />eandnion u1 making the Irian atcured by this Mongagt, Bottn,scr Ish:til pu^ the prcmlums reywred tr. nramt.un >uch
<br />insurance ht affect until such time as rhr requiremem for loch insurance trt;uu:atcs m ,.. _u. u,.r .~ a-iti: ii o: n,wcr's and
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