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<br />litaFOttr-t Covt:;,•.a*rs. Borrower and Lender covenant and scree es follows:
<br />L. Payment of Principal and Interest. Borrower shall promptly pay when due *.he principal of and imerest on the
<br />indeb[edness evidenced by the Vote. prepayment and late charees as provided in the Note. and the principal of and interest
<br />on any Furore Advances sectued by this Mortgage.
<br />2. Funds for Taxes and tosaraoee. Subject to applicable Iau~ or to a written waiver by Lender. Borrower shall pal
<br />to Lender nn the dap monthly installments of principal and interest art payable under the Note, until the Note is paid in full.
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priorit}~ over this
<br />Mortgage, and ground reou on [he Propem', if anc. plus one-twelfth of yearl}• premium !astallments for hazard insurance.
<br />plus oneaweifth of yearh~ premium installments for mon¢age insurance, if anc, all as reasonably estimated initiallc and from
<br />time to time be Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be hNd in an institution the deposits or accounu of which are insured nr guaranteed by a Federal or
<br />:.!xte agency (including Lender if Lender is such an institution). 1_ender shall apple the Funds to pay said lazes. assessmems,
<br />itssuraoce premiums and ground rents. Lender may not charge for so holding and applying the Funds. analyzing said account.
<br />n: verifying and compiling said assessmenu and bills. unless Lender pays Borrower !merest on the Funds and applicable law
<br />permtu Lender to make such a charge. Borrower and Lender may a¢ree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower. and unless such agreement a made or appliable law
<br />requires such interest to be paid, Under shall not he required to pac Borrower am interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual acenunung of the Funds showing credits and debits to the Funds and the
<br />purpose far whrh each debi[ to the Funds was made. The Funds are pledged as addmonai security for the sums secured
<br />he thu Atongage.
<br />If the amount of the Funds held by Lender. toge[her with the future monthly Installments of Funds payable poor ro
<br />[be due dates of taxes, arsusmenu, insurance premiums and ground reou. shall exceed the amount regmred to pac said taxes,
<br />assessments. ensuranee prcmtums and ground rents as :he?' fall due. such excess shall k. at Bnrrnweis option, enhrr
<br />prompty repaid to Borrower or credited [a Borrower or. monthh~ installments of Funds. It the amount of the Funds
<br />held by Lender shall not he sufficient to pay taxes, assessments. insurance prcmmms and ground rents as they fall due.
<br />Borrower sha4' pay to Lender any amount necessary to make up the deficienn~~ within 3D days from the date notice Is mailed
<br />by Lender to Borower requesuag payment thereof.
<br />Cipoa payment m full of all sums secured b} rhrs Mortgage. Lender shall promptly refund to Bortower any Funds
<br />held by Lender. 12 under paragraph 18 hereof the Property Is sold or the Propern Is otheratst acgwrcd b} Lender. Lender
<br />shall apple, rte later than tmmediarnly poor to the sale of the Propem~ or i[s acgmsntor. b} Lender, an}' Funds hdd b}'
<br />Leader at the t[me of application as a credit a¢amst the sums secured by thu Mortgage.
<br />3. Applic8ioa of Payments. Unlus applicable law provides etheru~ise, all payments received be Lender under the
<br />Noce and paragraphs I sad 2 hereof shall be applied by Lender first m payment tit amounts sayable to Lender by Borrower
<br />under paragraph ] hereof, then to interest payable nn the Note, then to the principal o; the Vote. and then to interest and
<br />pnnupal an any Future Advances.
<br />0. Chrtfest liens. Borrower shah pa? all taxes, assessmenu and other charges. fines end :mposdtons attributable to
<br />the Propene which ru7 anain a pnorin~ over [hu Mortgage, and leasehold paymenu or ground rents, if am'. m the manner
<br />aroywed under paragraph :hereof or. d not peed m such manner. by Borrower making payment. when duo, directly to the
<br />payee thereof- Borrower shall promptly furnish to Lender all notices of amounts due under tMs paragraph. sad in the event
<br />Borrower shall malt payment drrtctl}. Borrower shall promptly tumrsh to Ltndtr rtctipu er tdenane such payments.
<br />Borrower shall promptly discharge any hen whrch has prian[c ovt~ this Mortgage: ~rnvtded_ that Bannwer shall nM bt
<br />rcquued to discharge anc such hen so long as Borrower shall agree m tinting to test payment of the obllgauan secured by
<br />such lees en a manner acceptable to Leader, nr shall m good faith cantat 2uch Itrn b?-. or uetrnd cn2nrcemem et such lien Ia,
<br />kgat ptoceedtags whrch apetatt [e prevent ttse rntnrtement or the I<en of tartttturt of the Prapent o, ns part thereof.
<br />5. Hazed Irrwrnece. Borrower shall keep the Impmsements now cz !sung z>r ncrcatter ercercd ssn theaPrnpem- ensured
<br />a~,aiFSt inst. k}' Errs:. hazards inctudtd w:th:r. the rent. ~"txtcnded :user. kc- any such ::her hazard> as i.tnder mat- eegriirt
<br />sad m such amounu and tnr such portals as Lender ma} reyutrc. pmsedec. !hat Lcnaer .hall no: rcyurre that the amoum o'.
<br />-.,ti - - -rsgt extttd ihai xmaut.t ,.. -. vs rage rcyuercd ?o pat ?hc s *ceurcd F: ..,,s MertEagt.
<br />a Tat{:nsursace Larne: ,^-rovidira ttx ur~uratsrt thxll !+t etsosea by B:-rrs~s.rt =.:btes:s !- apprc~cae ^- Leader: prnvttkxi.
<br />that auc F. approval shsgi not be unreaaonanf} withheld. All premiums on ensurancr policies shalt t+e paw m the manner
<br />provided under paragrapr, ] hereof or. It not paid m such rnaaaei. M & rower making payment. once dot. derecth~ to the
<br />inauraisct vainer.
<br />All insurance pnlscus and rencu als thercot snap be m roan acceptaoic to Ltndtr and saai: ~.ncludt a standard mortgage
<br />daux m hvor .~'. and m Iorm accrpubke a' Leader. Lender shat: have the tight !n how the ix?hses and renewaL• tnerco:
<br />sad Borrower shat! prompt!? turtlph to tender rIi renewal twuces and all recupu a: paw premiums In the evem tit kss>,
<br />Borrower shall give prompt natct to tht Iasurante timer and Lender Lender ma? make Mn<s: of Istsa :; not rnadt ~rompitt
<br />hr Borrr wet
<br />L;nleis Leader sad Borrower aMtwese agree m wnnag. Insurantn prt~eafs sash rte appltod In restarauor..•r repair ,+.
<br />the Pinpany damaged, provtaed >uch rntonunn or repot !> t:.dnnmicau? teaubk and the section tit ;hI> Martgage ~~
<br />not thereby impnred if such rrsic»unn or repair if not Kntlalriitall\ terabit or rf the aacunn o! this Mortgage wnuw
<br />bt .mpured. the ;cpuzaaa protaeds shat' be applied tr the sates secures M flux Mortgage. we;h ;tit exceu..t tins pr:C
<br />to Borrower it the Propern a aMndotsW n? Ibrriswer or II Barrawcr tads to respond to Lender within 1h days nom +hc
<br />date onset a mriltd bt L.erWer u+ Borrower that the emurrntx crrnet ntlets to >tttlr a claim for msurancc tsenean. Lenuer
<br />is aidlitsnied to talMrs arsd apple the ,murraEe proceada at L.ender> isptwo ettbee to rtptorauan o; ftplir ,s[ the Prevem
<br />or to rho cones secured tn~ ttus Mattgtye.
<br />laniees !.ender sad BorraMr otherwise agree to wnnng. aR} such application n( proceeds to pnturpal snail oar extend
<br />of port{ttma the dire date of tot erkmthis inaalimaea referred to to paragraphs 1 and hereof nr ~hanga the rrreaunt or
<br />such tmtallmea[s. I( under paragraph 18 hares„ the Propem• is rcgwred by lender. all right. Ilar and mtareat of Flortrnwtr
<br />m sad to acv maurance pale[ra asW ,n sec to the praderda thaab2 ra-ultmg tram damage rn [be Propern pnnr w the snit
<br />or acyeasmnn shah pun to t.tader tc~ its exttat :+f the sutras secured ht tau Mortgage immaiiatcn pnnr !,• such >aer :.r
<br />atgtaNitaa-
<br />6. Peaatwaltieie std :tLdMSwepte of Pteprty; L.eeaMutda: t.'upderWlrrart: Planned Umt I>trtlapneats. Ht~rrowet
<br />shalt kelp the Progeny m gourd repair sad shall tin[ teolnmlt wore ar permit impuetpent ar Jetennrauaa s+t the Propen}
<br />wtd abet! tampty with the provpeom of ant !apt et tats Martgage a oa a Itaaehnld. 1f tNs hlnrtgaga a ~n ~ amt In a
<br />cohcomimssm or a planned unit development. Bturmver shall penntm all of torrower s nahgauona under the detlarenon
<br />or cOroaeata crnuog rn govetmag the eondvmimdm .x planned unit deveMpmeat, the by-laws and reguiattans ..t thr
<br />coadomuuum ar planned titut developanent, and coasutuent docttaecnn. Lt a roadommium or nianrttd rim! ~ltvriapment
<br />ndm is ensured by Borrower and rtteorded rogaher wish rhrs Mortgage. the covenanu and agrermcnta ,+t such rider
<br />aholl Ise meorporated torn sad shall amend and auppknstat the wvenants and agreemonts of rhrs Mortgage as if the rider
<br />were a pan lmreo[.
<br />7. Ptregotiep of l.tMeta if Borrower lads to perform the covenants and agreernenu contuned In this
<br />Mortgage, or if nay action or praatatiag a commetrted which mategdir a0ecls Lender-s interest in the Propem.
<br />inGUdrisg, but tsa hmitnd to, eminent daasaia, maolveacp, case entortoment, or arrsn;tments or proceedings Involving a
<br />haaknipt or rfeeedeat. tlxa Ltts3a at Leadts's option, upon tsotiu to Borrower, rna?' make such appearance. dtahurse such
<br />soap sad take such aeaon as is necessar}• ro protect Lenders inttreat. encludmg. nut net limned te, dlsbunement a+.
<br />reatloatible utor>Ky's fees sad entry upim the Progeny to make rapain. 1t Lender required mortgage insurance as
<br />tandmon aT maktag the laui secured 6y ibis Mortgage, Bnrrawer shad pat the premiums required to maiutaln such
<br />tnaurrnce in effect until such time as tae requirteaent for such Inauraoae terminates m accordance wnh Bormwen and
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