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~0-- ~(i~377
<br />Urerrean: Coven'nn'rs. Bcr rower and Lcndcr covenant and agree a; fntk,a ~.
<br />!. Pa}'menl a! Prinelpnl and Interest. Dorrrncer shall promptly pay when chic the principal of and into: wt on the
<br />indebtedness evidenced by the No[c. prcpaymem and laic charges as pra: ided ~:, the Note, and the principal of and interest
<br />on any Fmwe Advances secured 6y thrs Mortgage.
<br />Z. Funds Cor Taws and Insurance. Subject to appl^.atile law ar to a v:ritten waiver by Lender, Dorrowcr shall pay
<br />to Lender an the day monthly installments of principal and interest arc payable under the Note, until the Nate is paid in full,
<br />a sum (herein "Funds"} equal to onrhvel(th of the yeary taxis and assessments which may attain priority over this
<br />Mortgage, and ground renu on the Property, if an}•, plus one-twelfth of yr.,rly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium ins[allmcnfs for mortgage insurance, if any, all as rcasonablV estimated initiatty and from
<br />time to time by Lender on the basis of assessments and hills and «asonahle estimates thereof.
<br />The Funds shall be held in an institution the Deposits or accounts ni whici: arc insure) nr guaranteed 6}' ~ -Federal of
<br />state agency (including Lender iF Lender is such an instiution). Lender si,all ::opiy the Funds u, pay said taxis, assessments,
<br />insurance premiums and ground rents. Lender ma}• not charge Cor sn hold:.^.;; and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Linder pays 13armwcc imuest nn the Funds and applicable taw
<br />permits Lender to make such a charge. Borrower and !_ender : : ruing at the time of execution of this
<br />ilortgage that interest on the Funds shall 6c paid to Dorrowcr, rand rnlcis ash agreement is made or applicable law
<br />reyuires such interest to 6e paid, Lender shall not he reyui«d to pay Borrower .: m interest cr carrirgs on the Funds. Lender
<br />shall give to borrower, withcut charge, an annual accnuming of the Fund showing credits and debits to the Funds and the
<br />purpose Cor which each debit Io the Funds was made -i~he Ponds arc plzaged z. additional security far the sums secured
<br />,by this Mar;gage.
<br />11 the amaun[ of the Funds held by Lcndcr, together wish the future monhly installments of Ponds payable prior to
<br />the due dates of talcs, assessntcnts, insurance prcntiurns :: r.J ground rz.^.ts, s!:all _scccd fhc arnuunt reGUired [o pay said taxes,
<br />assessments, insurance premiums and ground rents as they fail due, such excess shall be, at Dorrower's option, either
<br />pramp0y repaid (o Borrower or credited to Dormwa on ;nanthly instalimcros of Funds. Sf the amnurt of the Funds
<br />held by Lcndcr shall not be sulTicienC to pay taxes. assessments. :nntranc'c prenvums and ground rents as they fail due,
<br />Borrower shall pay to Lender any amount necessary to ma::e un the Jzfic~cncy within 30 days fran the date notice is mailed
<br />by Lender to Borrower requesting payment thercoi.
<br />Upan payment in fu0 oC all sums sccurcd he d,c M:vtg:+ge 1 c::Je: ,d,:Jl p .r,ptly rotund to Dorrowcr any Funds
<br />held by t-ender. I(undcr paragraph Iti hero( ;ire i'ry^crtj „ x:41 nr ;hr I'itq+rny•:, mhenvisc acgm red by Lcndcr, Lender
<br />shall apply. no later than immediately prior Io the ,ale of tln I'ropar:c ;,, r.s .:. yuisnm,: hp Lcndcr, an}• Funds held by
<br />Leader at the time of application as a credit pgamr the s~rm secured '•: ^h„ Vorgage.
<br />3. Application of Payments- Unless appl:cahtc law ,' xules oti,r n+:vm. , ;.n mcnts received by tender under the
<br />I I
<br />tiute and paragraphs 1 and 2 hereof shall he zpphcd be Lcndcr first m t,;n me.n ~d amou nls payable to Lender by Borrower
<br />under paragraph :hereof, then to tmrest pa}'ai9c on rite time, ;hen ~.~ N-.c ;• p;d of the Note, :rod then to intcres[ and
<br />prmupal on any Future :'tdvances.
<br />4. Charges; Liens. Dorrn.ccr -:... ,I , av .,II :.: us, e,~csvnc:r.s .end .,: ~,.~: J,.:-_,-z,. fna..uui :rnpusitions at[nbutable to
<br />;hc Property which may auxin a prority over th:s Mortgage.::nd '. c.. ,n cal .v tsnund «nt~, if any, iu the manner
<br />prov,Jed under paragraph ? hcreo(e , d not p:uJ n arch r. ... a b:a iii,,: ~:, .,.: ;,acmcnt. „iron due, Juectl)' to the
<br />paves tl'.crcaf. Dorrowcr shall promptly Curnait to Lendr, ail rru.trccs o. , , , .., , ,~ ,.mlcr tits parrgrapir, anJ in rite event
<br />Dorrowcr shall make payment J¢cctly, Dorn,wcr ,trail ; , ,ady :. ., I c. ..a, a opt. a,tdaumg sxh paymcnls.
<br />Duruwxr shall prompti} Jixhargz anx• hen ,+'+n!. :-.-- ! r t} ,_-~!t x _, ,.. .. D•,-ro a -~:,~; ^,t bz
<br />:eywrzd to discharge any such lien so long as tiorruw er sh I at.rce :n _ r•-. t. , ..:} . .,. ,. .Lc obligation sccurcd by
<br />.mh hen m a manner a ieptablc to Lcndcr, er sh:dl m good ;.nth anntr.: ,:.. ~, .,a..: :em'. a=:tnr¢ment of su.h !:er, m.
<br />'opal proccedmgs which operate to prevent the enl otcenx'nt ut ti,c L... , , i,,,t. ~:mr o, ,..c 1':opetrv ,,, an} pax lhtrea(
<br />5. Hazard Insurance. Dorrowcr shall Acep the :mpm,cn:c^:, nn•.a ru.rnp ,~•: I,cre:d u. c. ~:ul on the !'ra),crt}' ,nsu«d
<br />.~
<br />.,g:uus ims by fits, hazards included wnhm rift term --. !code., a„ei .:g: roes ,u.h orbs: n:ru us a, I onus: may :;.
<br />_. i :n auch :-tnounis and for such tur.ods a, 1_a ,J ..,at :.y,nrc ;:,.,,, t .rtes I :~ . . ...... ::: .... ..!. :......;.. <,!
<br />..:ch coverage exceed that amour:! o - ed ; :,. ..~ .. , ...u, , ;hn `d on g.: cc .
<br />i7c it --r-n-c earl e nraviu'me. t- _ ., __ .; i•v !. .,.___
<br />that such approval shall not be unreasonably ~ct,i,helJ .\II ! -u _:.., , ~. t..~ tit rtu : , rer
<br />prav:dcd under paragraph 2 hercot or, :? net pest) in wch mannunn rn f6,:ir., cr tusk: ;g p.n;ncr,!. ,, ,.ar,~~dua. d~recu} Stu the
<br />uuurmcc earner.
<br />All insurance policies and renewals therenl shall be m loam ,:., qn.: hlc l:, I rndcr .,nd ,hall :, ,L,dc ,: van)., rJ m.,ngegc
<br />clause m favor of and in Conn acceptable to Lcndcr. 1 cndrr ., all ha,r the : :, L.dd :he p u.:a, nd : aw,,:, the:enl,
<br />and Dun aver shall promptly lurnish to Lcndcr ail :a , n.u uaicc, and . ~~ ,. ;~1, , ! pa nl p; •nut.:n, In the a. •nt .,i lou.
<br />Borrower shall gave prompt sauce to the :n>ur,use c,,nu and LenJe: I cn,lr:~~nas oc!6e , ,,,, ,,! i. „,. m .:,;adw prom pth
<br />by linrruwcr.
<br />Unless Lcndcr and borrower uthu~c:u :,grcc m ~.u:iinp, :. w:unac pt,. al, ,hall h:.:, pbcJ i,: ,edrn.v ion ,~, rcp.ur of
<br />the Prapcrty damaged, proviJeJ sudt «Rerauon or repro a .dh ~ sihle : nd !iu' ,,., .~:n} of th~n 91,,~rtgagc i
<br />not tt{ereby imparted. I( such restocaomr or rzp:ur : nx esa .: ~nnnll.a; .,, 6,i, ;the sa.a,.. .~I :h:s Uung.:gc , oulJ
<br />be rmpaued, the :nsuranue proceeds shall be appl;cdsto the suuu saes, irJ bs rho'\Inn y.:e ,.;~ih ~. he esac,t, a ::ny,a pest)
<br />w Borrower- li the Property a ab:mdoned h_, lion rover, :rt :l Dou „w cr L, J, r:, : nJ to I enJr: w:thm 1U dal, nom the
<br />J,de notice is waded by Lcndcr to Uorrower brat the u,swance c ,.11 cr, r~, ,e::ale ~, J.:nn In: ~: ,urance I:enehn, I enter
<br />u uwhunzed to collect and apply the :nxuance prucccJs at Lc ndc:s :y+l n,u e~lhc: ;,::cnt:,:::l:,,n :,: ,.ur of ;iw I':opu t}
<br />or to the sums secured h}' this hla:rtgugz,
<br />Unless Lcndcr and Dorrowcr oche rtes rsc afire ,a nrmg. e :.h ,q,pb..~n,•n , t pn rJc opal ,h.,ll m+t c,tc nJ
<br />or postpone the due dale of the monthly loll ailments ral et reJ to n, pa .:.u,hs I ~u,J _ c,~l ,_, ~rrh:u,pc the ,, rot of
<br />such uwtallnmuls. If under paragraph Itl 6ereol the I': nlx•r ty : ,,:yw al b, I nulr r, .,11 ngly, i~dc : ud u,ic-r, of 6or niw cr
<br />in and ur any insurance policies :rod in and to the pn eJs thercnl : uhmg Inns ,Inmugc to nc~ I'n,pm r} pn,,, R, ilia ,ale
<br />or acquisition sh:dl pass to Lender to the c.xtem of the wnu -anu al h) rh:, :Iu:tguge :nnncdr,nch poor t•• ,uch s;rlc o,
<br />es:Guisition.
<br />6. Presrrrntiun aad Ataintrn:tnce of t'ropcrl}; Lcaschulds; Cunduminiunrs; I'laum•d tLil Uruyopau,::,. Ito: ~. ,, a.
<br />shall keep the Property in good rcpmr and shnll not rommn waste or pennu nnpuu went o: dctcnoraoon nl the I'rrq,u't }~
<br />and shall comply svitlt the provisions o! any lease :l this ,Alongage :, ,rh, 9x1. Il ll::. ',In:tg.,ge r nn : ,,
<br />eundmnimum or a planned unit des'clopmznl, Dorr.,wet shall pcrhum all nl~lt„r: os, cr s :~hl:)::n, ., :udcr the ded:,rm wu
<br />ur covenants creating ue governing the condonvnunn ar planned nun dvccl„pnte n!, the by Lrws ;nJ rcgu La ion, ut :hc
<br />condominmm or planned unit develupmenl, and consutucnt a xun,cnr< I! , ndnnum urn , r pL,n nod unit ~, ,rI„pmm~t
<br />nJer s executed by Dorrawror and recordca! togc!hzr sank dos ,~loitga,e, ii,, .os en.: tit, uuJ .qtr crnu uts „I a, udcr
<br />shall 6z mcorporatrd into aad shall amend and suppicnx-m :hc cu, en.,mn .rues, .,guuucnts a. ,,,~, hlu:tgagc ,,, a the nJer
<br />were a part hercot.
<br />7. f'rnteetion of Lender's Security. If Dormwer tails :, pa ir•uu the ., nm .uJ cemcnu naa:ned :., t!us
<br />Mortgage, or it any action ur proceeding , .ummenca'd which :ran•rall, title,:, Irnde: C. rote: est ilm Prop. n,,.
<br />meludmg, but not limited to, eminent domain} insolvency. code cnioncntcm .~: ranganuu rs ni p,. ,.eJ urges i volv:ng
<br />bankrupt or decedent, then 1_endzr at Lender's option ~.: port nonce t„ tt,:r„~„cr : ~~. ,u: h .:ppe. , : J;,I~w sc >uch
<br />sums and take such action as s necessary to protect 1._wrder's rotor est. „ hnlmg. ~bul n.,t Irr„ncai ~h, aad nhw -emcnt ,V
<br />reasonable atlomey's tees and curry upon the i'nepeny m make n•p,,u, i! i.nJer rcyw:cJ mo:tgapc i:.uu.:n a .:.
<br />condnion of makutg the Ivan s cured by this h7 wigagc. Darn+wu .a.,. •.,} ti,e in un: .: .cq:nr cal t .: :.,. ,,
<br />insuranez in c(ieel until such ume :a the «yuirenum (or such mvu a.,-: ..: n: n.,ic, 'u a~~orJa:tra: a,:h I'. ~::,:,, cr'~- .:.,..
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