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<br />$t3- 1344226 r _ ,-
<br />UuteoxAS Cavau.s~•ss. Borrower and Ltndcr covenant and agrcc az fnlfou,:
<br />3. Payment of Principal and [nrerrst. Bo: rower snail pramp[ly pay w•hcn due !nt•ptincipril bf and in:ertsi on the
<br />mdcbtcdntss evidtnccd by the Note, prepayment and !ate charges as provided %n the Note, aad the pncipat of and intcrtzt
<br />on any Fuwre Advances secured by this Mortgage.
<br />2. Funds for Taws aad Irtsuranee. Subject to applicable law or to a wrinen waiver by Lender, Borrower shah pay
<br />to Lender on the day monthly insta8ments of principal and interest are parable under tax Note, until the Note is paid in toll,
<br />a sum (icerein °Furnis' i equal to orte-twelfth of the yearly raze; and assessments whic?f may attain priority over this
<br />Mortgage, and ground rents.on the Property, it any, plus one-twtlfth of yearly p;cmium installments for hazard insurance,
<br />plus-tine-twelfth of yearfy_premium installments for mortgage insurance. iC ans. alt as reasonably es[imSted initia!!y and from
<br />time ro time by Lender an the basis of assessments and hiifs and reasonable estimates thtrcof.
<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 agency (inetuding Lender if Linder is such an institution). Lender shad apply the Funds to pay said saxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said accounf,
<br />or verifying and compiling said assessments end bills, unless Lendu pays Dnrrt>wer inter tt un ehc Funds and applieaMe law
<br />permits Lender to make such a charge. Borrower and t~ndcr may agrce in writing at the time of ezetution of this
<br />Mortgage drat imertif on -the Funds shalt be paid tv Borrower, and unless such agreement is made or applicable law
<br />requires such inttrss[ to !x paid, Lender shat! not lx required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual acenunting of the Funds showing credits rand debits to the Funds and the
<br />purpose far which each debit to the Funds was made. T'he Funds are ptedgcJ as additional security for the sums secured
<br />by this Moi:gagt.
<br />It the amount of the Funds held by Lender, together with !ne tuntrt monthly installments of Funds payable prior io
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said_taxec,
<br />- asscss.-neMS, insurance premiums and ground rents as they Cait due. such cxcexs shall be, at borrower`s option, either
<br />promptly rtpaid to Borrower or credited to Borrower on monthly instattmcnts rat Funds. If iht amount of the Funds
<br />held by 4ender shaft rapt be suMicient to pxy taxes, assessments, insunncc premiums and ground rents a: they fall- due,
<br />Borrower shah pay to Lender any amount necessary to make up the deficiency within 30 days from thedate noticris mailed
<br />by Lender to Borrower reques[ing payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, Lenticr shall prz~,mpily re loner 1o Borrower ;my Fonds
<br />held b}' t.rndcr. It under paragraph !g hereof the Propcry s sold or !hc I'n,l>cny s otherwise acquired by 1_nrder, Lender
<br />sha71 apply, no later than immediately prior to the sale of the I'ropert}' r,r i!s ;:cquisitivn ray Iandcr, any Funds held by
<br />Lender at the tine of application as a uedit against the sums secured by the 11or[gage.
<br />3. Application of Pnyments. Unless applicable law provides other ~s i+c. all payments received by Lender under the
<br />Note and paragraphs t and 2 hereof shall be applied by Lcadrr first in payment of amounts payable to Lender by Dorrowec
<br />under paragraph 2 hereof, Cher. to interest payable on the Note, !her.:o !hu principal rat the Notr, .cod then to inxrest and
<br />pnneipa! on any Futua Advances.
<br />4. Charges; Liens. Borrower shall , ay a!I uses. assessments and ocher charges, lines and mrpositivns attributable to
<br />the PzopertY which may attain a pnar.;}' c;ver this tslortgagc, and icacehnid pagmcnts er ground rents, if any, in the manner
<br />piorrdrd under paragraph 2 heron( vr, H not paid m rarest m:mner, by i{orrr.ver making paynmm, when dot, directly to the
<br />payee thercoL Iorrower shat! promptly furmsn to Lender all nvhccs u( amounts due under leis paragraph, and in the event
<br />Dnrrower shall make payment directly, Borrower shall promptly furmsir !,+ Lender reccints esadauca:g suer payments.
<br />Dnrrower sh aft promptly discharge any lien wpiCh has pr,nrrtv over !his hint ,d,gc; provided. !ir:u Fiorrawer shalt not be
<br />required tc Jischa; gc any such lien sc long as Borrower shall agrcc in ~.t. .~: u, :ire l:ayment ul ih< ah1i;;U ion scoured by
<br />such iirn at a mxnncr acceptable fo t-ender, or shall iu good Guth cunrrsr Hoch 3:cn l+y. nr dclend cn torrement of such ;sera in,
<br />legal proceedings which operate to prevent the cm orcemeat of rite iirn nr forfdturc a[ the Property nr any part !hemof.
<br />S hazard Insurance. Dnrrower shall keep :hc :mpn>,-cments nun e~,s<,ng or htrcaflcr crcc!ml c,,n the Property msun~
<br />against lost by fire, hazards included within the Ierm "cxttnded n,vcrag~:'", r.;i sn.h c~her hazards az Lender may reywre
<br />anJ m such amounts and far such periods as t_cndtr mat' ,eymrc: p..+v uteri. !!;at l.andcr shat! net require that !hr anrowu vt
<br />such trwcragc txcrcd that amount of Cuvtrage rce;:nrcJ to pay !L+c ~::nr, sc:::red !,}• ;ia "".or;~agc.
<br />The Insurance tarrcr providing the insurane: shall be ciurseu by Ilorru:, tr suhjca !o ;q,pa,val by Lcnda: pruudcd.
<br />Chet such approval snail rat be -unreamnab(v s~i;i, held. AIi pnannnm nn a .,,,:race pot shot! i,e paid i , the manner
<br />provided under paragraph 2 hcrcu[ vr, d out paid in such manner, by Ilornr„tr nmkmg payr:cnt, when due ducctly to tiro
<br />insu ranee carrier.
<br />All insurance politics and renewals thereof shall Ix m tnnn atatpr,:blc to 1 cn,icr .e!d ::hall mCl~,,dc a scnularJ mortgage
<br />clause in favor of and in form acceptable !o tender. L.endcr shat; ha,_ the ; i~iv tr, hold the politics nd renewal:. the,coi,
<br />and Burrower shall promptly furnish tv Lender alt renewal ponces and all rc.cq,!s ut paid p~enuurns. in !ht event n( loss.
<br />Bdrurwcr shall gn•c prvn:pt halite to :hc ursurnnce ~arric, and !.thrice I em:u .u;,y make pro:,t of less d not made promptly.
<br />by Dnrrower.
<br />Unless Lender and borrower aincnv:se agree in sv:tmg, imurautt pn+..ec.l, shall L¢ ;applied to restoration <a' repair of
<br />the Property damaged, prvv!dcd such restoratmn or rcpa,r is etonnrnic:d!y tcavhic and !h:: uauuy of the ~imtgage is
<br />hat flrerehy impaired. It such resturnuon or repair s Hai ceonomicaiip Icas,hic o d the security of this Mortgage ovoid
<br />ix impairm~d, the insurance proe,~cds shall be applied m the sums securrJ hr !ha Mortgage, ,nth the catass, it .uty, paid
<br />to Darrowar, if the Preptrry is abandoned ray Borrower, or ,! Datrou cr !ails to :cspoad u, I_endtr within 30 days l:om the
<br />date notice is mailed by Lender to Dnrrower that !hc thou ante earner odcn ~n wale n drum (nr inxnancc hencf)is, Lenaler
<br />is autbori;eel to collect aad apply O:c insurance pmtccils .,t Lcnde:'s up!um tuber to rts!ornuun n, icp:ur nl !hc I'rolxny
<br />or to the avms srcured by this blortgagt.
<br />Uniesz I-ender and Bvrrowu e[hrrys isc agrcc , „ling, any wch : pplic-.u inn r( proceeds m p, ,wi .i,:Jl nut ra:end
<br />or postpone the due date a( tot nxnnhly installments mfcncd !u „ parugt.p,ha I anJ 2 hc,cul ~r .~h:rage ~Irc ;uuouu[ of
<br />such installments. if under paragraph Ig herso( the Proicrt} s ac4+~uad Ix Lender, all nght, utlc soot urlG CS! of B,.>rrower
<br />in and to any insurance ppiicics and in and :c~~ the pmceeJs thereof resul!,ng Irt>m d;mmgc to the 1'rupeny pc~,r !u the laic
<br />or ucyvisition shall pass to Ltndcr to the latent e( the sums sccurcd by !tus AL,i tgagc unrnrd+atciv prun' in such s.tle or
<br />acquisition.
<br />6. Prr_rrrattvn and Maiateoance of l'roprrty, l,caschulds; Couetominiuniv; Planned Unit tlcydnpmtnts. Carrosncr
<br />shall kelp the Property iq goad try*air and shall not Commit was!r nr pennn iminir mcnt or dcrcriorahon of [r:c i'ropcrt}~
<br />and shots Comply •.aith the provisions of any !lase d this Al origage is on a Iu:ncholJ. li !im }hr: tgug_ s u nit ur a
<br />cundvn)inium ar a plaunod unit Juvtivptucm, Barn,wer shall pe rlonu all ul Ikn rower's nbhg:U ions under the Jedarauam
<br />ur cvveuams creating or governing the candomutium ar planned unit devciopmtnt. the i:y-laws and tcgulations e( tlw
<br />candomimuas or planned unit dcvtlapment, and censtimcm Jot un:c n!,. li a condominium ur planned uu,t dos dopntent
<br />rider is csccuted by BO(raWGr and accorded togt[htr wdh !hs Mnrigag0. the a,vcnanls nod agccema:b ni such nJrr
<br />shaFi be incori>tiraieJ info and shall amend and supplentrnt the cuvcnants anJ :,grtenrcnts el !hu Mortgage us ,I the r!dcr
<br />u:cre a part hereof.
<br />7. Protection of lxndar's Srcurity. [( Borr, wet lath to pcrlurn the cuvr;:urtc anJ agreements contanxJ in the
<br />Mortgage, c{ if :tray action or prcueeding is curmnarccal which malt, tally :.:.:~_h Lrnder's hottest in the t'rnpt rt},
<br />including, but not limited to, eminent domain, insnivtncy, code ra(orctmem. nr urrnngenunts nr l;roceedingy urools•ing
<br />bankrupt ar decedent, then Ltndcr at t_erdef's option, upon native ro Dal r,nvcr. coati mane such aplx:ar:mtcy riot+ursc suds
<br />sans 2nd 42ke sash action as is necessary to. precut l.endtr's i±r!erest, :_. t, !>ut rot !;mr:eJ t:., ehsburscmc::t o,
<br />:n.. „ 1 ,
<br />reasenahie auornsy's fees and entry upon the Prdpttty to make t, .. ,. ~~udcr ;cywred mortgage i:sura,ro_
<br />cwulnian'uf roasting the foam secured-try thi3 Mortgrga--. Borraa~cr rii.:a! ~ .y nc~ premiums ,cqu, ccl to m:unt.r:n s,,.,
<br />insurances iri tract antic such tinx--. as the reyvirrmmti (br such :usur.,u,.e tcn„iu:ucc u; .,.,,u d;u,,.a nun ,,,,n,.,u:rs ,.....
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