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<br />QlJ'~ U~~693
<br />UMEOAM COa'ENn YTS. -nRO'wer and Lcndcr COVenppt and agrCC :6 follows;
<br />h payment of principnl Hoer Interrsl. llnrrowcr shall promptly pay when due Cite principal otand inures[ on the tic
<br />indebmdntss evidenced by the Note, prepa}•ment and late charges as provided ut the Nole, and the principal o{ and inures!
<br />on any Fwurc Advances secured by this Mongagc.
<br />2. Funds for 'Taxes and Insurance. Subject to applicable law or ;o a written waiver by I-ender, Borrower shad pay
<br />(o Lender on the day monthly installments of principal and inlcrest arc payable under the Notc, unlit the No;t is paid in laic
<br />a sum (herein "Funds") cyual to one-PVCICth of the vcariy taxes anJ asccssmatis which may attain priority Duct this
<br />hiortgagc, and ground rents on thr Property, if any, plus one-twelfth of yetriy premium inst:dimcnts for hazard insurance,
<br />plus one-lwzl(th of ycarl}• premium insullments for mortgage insurance, if any, nll as reasonably estimated initially and from
<br />time to time by Lender on the basis of asscsvncnts and bills and reasonable estinr:uu thereof.
<br />T1te Funds shad be hcid in an institution the deposits or accrnmts of svhirh arc insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). 1_ender shall apply the Funds to pay said razes, assusments,
<br />insurance premiums and ground rents Lcndcr may not charge for so holding and applying the Ponds, analyzing s.rid account,
<br />ur verifying and compiling said assusments and bills, uNess Lender pays Borrower inurest nn the Funds and applicable law
<br />permits Lcndcr to make such a charge. Borrower and Lender may :,gn'c m writing at the time of ezeeution of this
<br />Mortgage that interest on the Fundz shall be paid to -or:owcr, and :nticss such agrcemem is made or applicable law
<br />- rryuires such interest to be paid, Lender shall not he required to pay Bnrnnver any inurest or earnings on the Funds. Lender
<br />shall give to -orrower, without charge, an annual accounting oC the Funais showing credits and debits to the Funds and the
<br />purpose (nr which each debit to the Funds was made. "Che l=ands ire p!edgeJ as additional security for the sums secured
<br />by this Mortgage. ~ '
<br />,- 7f the amount of the Funds hcid by Lender, together with the future monhly installments of Funds payable prior io
<br />the due dales e( taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />asscssmenu, insurance premiums and ground rents as they tall d::c, r,:ch excess shall bc, at Borrower's option, either
<br />promptly repaid m -orrower or ucditcd to Bcrrowcr nn monthly installments of Funds. [{ the amount of the Funds
<br />held by Lcndcr zhaB not be su(licient to pay saxes, assessments, insurance ,premiums and groernd rents as they fall due,
<br />Borrower shall pay to Lender any amount ncccssaq• to :Hake up the dcficicnzy within ?0 days from the date notice is mailed
<br />by Lcndr: to Borrower requesting payment thereof.
<br />Upon payment in fall of ail sums secured by this Mnncngc, Lcndcr shall promptly refund Io Borrower any Funds
<br />held by LenJer. if under paragraph IS hereof the Proper) is sold nr the I'ropeny is othcewise acquired by Lcndcr, Lender
<br />sha71 apply, no later than immcdiaicly prior to the sale pf the Propc riv or ns acquisition Iny Lcndcr, any Funds hcid by
<br />Lender at the time of application as a credit against the sums secured by riv, htor,gage.
<br />- 3. .4 pplication of Yapnnsts. Unless applicable law provides otherwise. :dl payments rccei~.cd by Lcndcr under the
<br />tints anJ paragraphs 1 and 2 hcreoC shall be applied by Lcndcr first in pas•mem of amounts pay chic to Lcndcr by Borrower
<br />under paragraph ?hcreoC thin to inlcrest payable on the No(e, Then ht the pt incipai of the Nrnc, :uxl then [o interest and
<br />pnnupal o.^. any Fuwrz Advances.
<br />J. Charges; Liens. -orrowcr sh:al pay all taxes, asscsunaus and other di::: ecs. lines and irnpositions aUrVbutabic to
<br />the Yu,pcny which may avain a priority over this Mortgage, and IcaschnlJ p.tymcats or gro:nxl tcn;z, i( any, in the manner
<br />pro'+tdzJ under paragraph 2 hcrco( or, if not pail in such mamter. 6y ^nn ors er makin pa}nrcnt, w~ben due. Jircctly to the
<br />payee thcrevf. Borrower shall promptly furnish to LenJer aI! nmtccs n( amount. Juc uncicr this paragraph, utd in the event
<br />9o:rower shall make payment directly, Borrower shall promptly iurn„i: !~, Lemier r. ;cipts e+~denung such payments.
<br />Burrower shall promptly Jischargc nny Iicn which has pnnrily over Isis ?1w tp.rge: ;* ,,, that iscrnxver •.h:d! not 6c
<br />rcyu:ced to drscharge any suc4 Iicn sn long as L'orrn.. cr shall :,~ i ., cot .+ aGiibniiou scw:cd b}'
<br />u:h Len .u a manner aceeplable to Lcndcr, or shall in good Lrithreorn..; cur h~!:cn hy, a .: rod c1n(nrccmcnt oI x,ch Iicn in,
<br />leg:a p; oceedtngs which operate [o prevent the enforcement of ti,r i~u, „r ia:',cnure of tl~,~ iroperty or any part titerwf.
<br />5. fiuzard Insurance. -ocroscrr shall keep the intpm+-emenis no~•+ c+ist ~,•~ nr ire;rafter crec!ed o:: U:c Property inm:ed
<br />:,gaiust loss 6y fire, hazards included within the (crm "axicnded rnvr:age ~~..;nJ sn ~;:- ocher h:¢nrdr, ac .c::dcr me}• require
<br />.. d m suzi; amounts and for such periods as Lcndcr may require; pro+ide+i, that Lcneict chap not teywre !hat the :uncurl of
<br />such a'overegc exceed That amowtl of coverage required nt nay the sums .ccw rd by this star!gage,
<br />l';e irsuranee carrier providing the insurance shall he chosen 6y Bo: r.+.. cr subject to approv:u by i.ender, prov:ded,
<br />that such approval shall not Be unreasonably +riihhcid. Aii premium. on m.,u once pniic,rs ~.'nait be pail ur :iu manner
<br />provided under paragraph 2 hcrco{ or, i( no[ paid in such manner, h}~ Bart u,ver making paynx!v. when due, directly to the
<br />insurance carrier.
<br />All insurance policies anJ rencsvals the rco( shall he in form accept.:hle in I ender .uul shall include a standard mortgage
<br />clause in favor of and in form acceptable m i.ender. Lcndcr shall h:: s~r the tithe to holJ the p ::<Ies and ~ w;ds thereof,
<br />and. -errower shall promptly furnish to Lcndcr all renewal not n'cs and :.II n.cipts of paid prcnuums. lu tFic scent of loss.
<br />Burrower shall givC prompt notice to the insurance earner and Lendu. 1 cudo~ may :Hake pnu+i a( !ass i( not made promptl}'
<br />by Borrower.
<br />Unless Lcndcr and Borrower othcnviu agree in writing, incur nce pn rds shall he :q,phcd ;,, evorniun or repair of
<br />the Property damaged, provided such ruloralion or repair is ecwunnic:dly Icnsii,ic and the >ecunt} of this Plotigage is
<br />not thereby impaired. I{ such «sloration or repair is not ea,nomically Ica:.tblc o- :f the security of Ihts Mongagc would
<br />be impaued, Ihr insurance pr occeds shall bt applied to the cams scaircd by this ?Ior Gage, wnh the cncess, if an p, paid
<br />to Borrower. If the Property is abandoned by Borrower, or it llor nn, cr Iaiis p? topond u+ I cnJtr wnh:n ?0 days from the
<br />date notice is mailed by Lcndcr to Borrower that the insurance carrier nlfcrs in cents :: claim (or invtr:utcc hcnelils, Lcndcr
<br />~ anllt0liLCd 10 COIICCI alld apply the insurance procccds at Lender's upiim, colter n, test ore non ni report of the Property
<br />or to the sums sceurcd by this Mortgage.
<br />l)niess Lendrr and Borzewtr ulherwise agree m welling, any .ouch applkalion of procccds to principal ~-hail nut eunxi
<br />ur postpone the due doer of the monthly' inslalhncins rclened u+ in p:u ;:graphs I rout 2 hcrco( or change the amount of
<br />such in>taliments. if under paragraph IH hcrco{ the Prolx rt}' is aequucd he Lcmiri, ;ill rlghl, title rued vucrest cl Iknrosver
<br />in urd to any insurance policies and in and to the procccds Iherenl te<uiGng from Jnmage n, the I'ropcr!y pn:•r to the salt
<br />or aaquisuion shall pass to Lender to the extant of thz sums >cou red 6y thn 1.1tutgagc uumcdrucly ;anor to such sale or
<br />acquisition.
<br />6. PrezrrraYtun and 17 aiutrnanrc ut praperls; Lraaehulds; (bndnminiunn; 1'launcd Iiuil Ucvrinp:penis. It orrower
<br />shall kezp the Property in good repair and shall not commit waste ur pernut impainnenl or deteriorauu~: of the Properly
<br />and zhall comply with the provisions oI any lease i( this Mongagc is un ;. lea>chold. II Ihtc Pluugngc is on a unit in a
<br />condominium ur a planned unit devclopntent, 6orm+ver sh:dl pcrfonn all of Borrnrer's nhhgminns under the dccLvation
<br />ur covenants creating or governing the condominium or planned unit devci,gnnein. the bylaws and «•gulauum u( the
<br />condominium ur planned unit devclopntent, and consl ii acne documem s. II' :r und<uvinium or planneJ u t dcvclop„anl
<br />rider is executed by -onow•cr and recorded together with ibis Moilgogr, ;hz wvenants ;end agroements of such rider
<br />shall be incorporated into and shall amend and supplement ehc eoecnanu rout agreements of Ibis Mot lgagz as it the rider
<br />were a part hereof.
<br />7. 1'roleclion o{ Lender's Securi fy'. 1f Borrower (ails io peilotm (he c venanls anJ agreements c'onlained in this
<br />Mortgage;or i[ any action or proceeding is commenced which m:nennliy alTtcls Lender's inurest in the Properly,
<br />including, but not limited to, eminent domain, insolvency, code en lo«cmem. or nnangmnuus or proceedings invoiw ng a
<br />bankrupt or decedent, then Lcndcr al l.tndcr's option, upon notice t<, Borrower, m:ry make such :yrpcarmccs, disburse such
<br />sums. and cake such action as is necessary w protect Lender's intcmzt, including. but not limiud to, disbursement e{
<br />reasonable atfomty's (etc and entry upon the Property to make repan s. li lord y' required mortgage insurance as a
<br />cunduion of making the loan sceurcd by this Mortgage, Rorrmvct shall pa) the premiums is ;aired Ie maimain such
<br />irisuranat in effect until such -time as the requirzmna fpr such insnr,urce p:nnurates in accarclartce with llurro~sa'r's aou
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