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80--X04539 r •
<br />U:art:oant Cavt:r:nwrs. Borrower and Lender covenant and agree as follows: ..
<br />i. Faymrnt of Principal and Interest. Borrmvcr shall promptly pay when due the princip3)i i5~f `anif' interest on [he
<br />indebtedness evidenced by the Nure, prepayment and late charges as provided rn the No[e, and the pnncipal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and losurance. Subject to applicable law or to a written waiver by Lender, borrower shall pay
<br />to Lender on the day monthly installments of principal and interest arc payable under the Note, until [he Note is paid in fu6.
<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 rcrts on the Property, if any, plus one-tweiGh of yearly premium insutlimcnts [or hazard insttraoce,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all 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 agency (including Lender if Lender is such an institution). Lender shall apply the Fonds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge (or sn holJine and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and hills, unless Lender pays Borrower interest nn the Funds and applicable law
<br />permits Lender to make such a charge Borrower and Lender may agree in writing at the time of ezecution- of This
<br />Mortgage that interest en the Funds shall be paid to Borrower, and unless such agreement is made or applicable taw
<br />requires such interest to be paid, Lender shall not be reyuircd to pay Borrower :my 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 (or which each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
<br />by this Mortgage.
<br />!f the amount of the Funds hcid by Lender, together with the !more monthly installments of Fonds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rears, shalt axcced the amount required to.pay said-taxes,
<br />assessments, insurance premiums and ground rents as they (all due, such excess shall be, at Borroweis option, either
<br />promptly repaid to Borrower or credited to Borrcwer om monthly instullmenls of Funds. If the amount of the Funds
<br />held by Lender shall not ba sufficient to pay lazes, assessments, insunncc premiums acrd ground rents as they fall due,
<br />Borrower shat! pay to Lender any amount necessary to make up the deficicacy within 30 days iron the date notice'.is mailed
<br />by Lender to Borrower requesting payment thcreol.
<br />Upon payment in full of all sums sccurcd 6y this hfnrtgage, Lcndcr shot[ promptly reftmd to Dnrrower any Funds
<br />hcid by LcnJer. 1( under paragraph 16 hereo[ :he Property is sold or the 19 openy s othcnvisc acqu.red by E_andcr, Lender
<br />shall apply, no later than immediately prior to the sale of the Pmpe rty or ies aeyuunion by Lcndcr, an}' Funds held by
<br />Lcndcr at the time o[ application as a credit against the sums sccurcd by this Jl urtgaec.
<br />]. Application oC Pgymenis. Unless appl:caBle law pmvrdes othcncise, all pavmenls received by Lender under the
<br />Note and paragraphs 1 and 2 hereo( shall be applied by Lcndcr first in payment tit amounts pay chic to Lcndcr h}' Borrower
<br />under paragraph ?hereo[, then to imcres[ payable on the dote, then m the principal of the No!c, :md then to interest and
<br />pnnnpal an any Future Advances.
<br />i. Charges; Lfens. Durreu•cr shall pay all tases.:n ssmcnts and onmr :irucs, tine, and :mposiLans attnbuta6lc to
<br />the Property which may attain a priority over this Mor!gape.:md leaschalJ pay mcnta or ground rents. it any, in the manner
<br />provrdeJ under paragraph 2 hereo( ur, if not paid in tiu<h m:mne r. bs Nrni~Ue~ making pacmrnt. ,ehen due. directly to the
<br />payee thereof. Dorrower shall promp6y Cornish to Lcndcr all notices a! ar...: due cndcr the paragraph, and in the even
<br />Borrower shall make payment Jrrectly, Dorrower shall promptly hunr,il t:,trl code; :eccipts ceideneiuG such payments.
<br />Borrower shall promptly discharge any lien wFfich 'nos pr only „ u ihr. Mor ig:rge: proviJrsi, char furrower shall riot be
<br />reuuircd w discharge any such lien so long as tiorruwer .hall aercc m ~•nu n;t i„ ti,c nacmcnt of the n6ligatinn ucurcJ by
<br />wch lien :n a manner acce ptahle tv Lcndcr, i,r +hNI in goof Lulh : ,mca ,n:h i:. 1+Y, o- dclrnJ enforcement of such lien in,
<br />legal proceedings which operate to prcecnt the enio reenxml of :h+e i:au ,rt t„rl of ore of the. Property n nart thereof.
<br />S. Hazard Insurance. Dorrower shall !cep the !:npravemenn n;.u ~~, ~~rnr ,,. ~: caftcr s !cd rn::he Propcr!p :nxured
<br />:,gains[ loss by fir^„ hazards included wnhm the term "rvenJed ~" .clog.:-~.:m,i v.ich rather iu¢:vris as I cndcr may require
<br />and m such nm¢unts anti for such pcris-ds as Lcndcr m.ty !eyuue. pi„oidrai, that i s•n,ter stool! n!n :~ .a ....,. ,.,_ :unu+nu of
<br />etch coverage exceed that amount of coverage rcqu:rrtl m pal nc~ ,. s~.red by tlus .`.Inn gacc ~~,
<br />The insurance carrier providing the insw anx +h;;ll be ~ ,.,,cn 6y IM1; ~n nsu subject Io „ppr oval 6y Lc nJcr, prusidad,
<br />that such approval shall not be unreasonably w~nhhcl J. .! prc nuwm n . ::,r ::mee policies si,all he paid n, nc~ manner
<br />provided under paragraph 2 hereo( ur, d not pail :n . uch~manner, b} lion peer ntnkmg payment. when dce, drrectly to rile
<br />insurance carrier.
<br />.q1I insurance pobcies anJ renewals theca,! shall be u'. ions .: sept,i hie to I cmki , rid ..,all ur 1,ufe .r u.uu!a:J moo cage
<br />clause m favor of and in corm acceptable to Lcndcr. Lr rider .hail i+asc nc~ light ro tr,.Id fix poli::c..:nd ::. ss.J•, thr. a+l,
<br />and Burrower shall prom plly (w nab to Lcndcr a, eneu ai noncco :,nJ ..li w.c:lm. i,i pmJ cnuu:.:, I~.r the a cot of loo.
<br />Burrower shall give prompt nohee to the msur.mrr e:rrr.e:.:nd I cndn I rndvi mas :.+ae, r ..~. ,.I :, „ it n, , ma:.e prom!?th
<br />by borrower.
<br />Unless Lender rind Borrower othcnv ne agree m urumg, i x ,r. n c,t. shall be apidrei: n, n.,•ai uti,n: ar rrpau of
<br />the Property damaged, prov:Jc t such restorauon or :cpau s a ,nn:c~ll} . vblu : rid :i,c .~, my of '. Atnrt;agc :
<br />not It,ereby impatrcd. 1( such restur:mm~ or mp;ur a not a a:nornrsaht Ira,rhlc :I the s,. u•.. ,nn 's1ong;igc wau1J
<br />be rmpaved, the insurance proceeds shall be nppiicd m thessunts ss,.: rvJ h~ ihn Sionga ~c •., ith !hc c .1 .i s. pa,d
<br />;u Burrower. I[ the Properry• is abandnncJ by tiurnnvcr, n ,I Bomas cr ta:h in n•, p,+nJ t:~ I rnilc ~~ vnth;:~ 3Usaa7:, from the
<br />J:rtc notice is marled by Lcndcr m Burrower that the uuwancc c otlrn u, ,,::tic :~ . , i •r ti,: ~•: ,u ., ~c be :chts, l cndcr
<br />u authorized tv collect and apply the :nsurancc pnuecJs .:; I cndcr, npu,rn ru hr: i., :e••I n:.LLU~n o: :cp.w t the I'mpcrt}
<br />ur to the sums secured by this Mortgage.
<br />U ttless Lcndcr atld BOrrOwer olhe rlyl SC agrCC In wnlln[4 at}' >:4h ;Ipl+l iadbun nl pir,CTt'J; .o Iq miipal sLd11 riot GItCnJ
<br />or postpone the due date of the monthly installments rclcn cd to m partg:al,hs I and =. hu erd ~:, <h;mge :h< amount of
<br />wch installments. it under paragraph I8 hereof the Pml+crt~ n augured h~ I ~•ndc:, :. • agI!i. talc and intcre,~: ,•t Burrower
<br />, ~., ~!- .
<br />,n and to anv- i.^.iurar ~e f=t;iii:ies :u,d is and t:: rho p _+,__ Ihcrcul : :uh:ng !... ~ ,L: n~~~ap.. r, :hc P: ,rns i ~ _ _.._ ...:.a
<br />or ucywvuen shat! pass tv Lender !,p the exwnt a~C~thr punu securest 1++ this ',I~n tg-age m,i :ediale!srp::,a ;. 'rJt ,,:IC o:
<br />acquisition.
<br />G. Freservalion and Maintenance of f'ropeA}; Lcau•hnlds; t undm 1'lunncd t'~ni! llcudupuwub. Roc nrwcr
<br />shall keep the Property in good repair and shall not commit waste nr per~mirt unpa eni i r Jemruw:dum nt tiro I'rnpeny
<br />and shall comply with the provisions o[ any lease ii this \longago ¢ nn .i IanchnlJn It iius ?im [page r art in a
<br />cundominnnn or a planned unit development, 6on'osvcr shall penonn all ..1 Icon ewer s ,drLgauum ,~.nJer the dccla: ai tint
<br />ur covenants creating ar govenung the cundamuuum +,r planned unit dcveLgnnent. the Sr-i:uss and rcgulot:or~~. of ;hc
<br />condonunwm or planned unu development, and eonsuluenl due unxnis 11 ,: siunu:m:m ,• pl,wued ::nit ,ie, rl~,pnrent
<br />rider is executed try Borrower and recorded together wuh Ihrs Mor tgugc, the uxen.una ,mJ agrecmenu of , ieh nJer
<br />sh;dl be utcorpucared into and shalt amend and supplement the cu+ar,uns amt agreements tit thi•. ~luagagc .,, d th< nJer
<br />were a pan hereo[.
<br />7. Protection of Lender's Security. It Borrower finis 1.• pc;~orm the c cn.nllt : nJ ;:gr.cmcnts nvamcJ u: this
<br />Mongage, or i( any action ur proceeding is eummenceJ •.vhid, man:uall~ r+vlicns I endrr's ~nterrx i i the I'n,pcny,
<br />including, but not limited [o, eminent domain, insolvency, code en(nrcemem. , .~ angcn ,nts ~ prnccedings Involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice u. I:orna+rr, masr r +akc xi:h •y,pc. • : dabunc >uch
<br />sums and take such action as :s necessary to protect LenderT imertst. :nnudmg, b:, n.n iinuted ro~~ch.bu ncn:em n,
<br />reasonable attorney's tees and crtry upon the Yrztpcny t take ~ +an•. 1! 1 e a.a. .__ :. Cage i•.s .. s_ ...
<br />u n y n- c+•u•~• ..
<br />condition ck making the Insn sceute~t by this 99ortgage Bon c,scr shall pa} i6,e premiums '~ red t„ : „nt~nn > ich
<br />insurrnce in cliect until such time as the requirem¢m (or sash msu: aun~• :, ::.un::ia. •.: •s u+iJuncc ...:h Ihnrr,w crA ..nJ
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