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X80-- u05041
<br />UNt~orM CAVEttlANTS. Borrower and Lender covenant and agree as follows:
<br />}, Pagttteet of PrMrt~ttt aed latereat. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Noie, prepayment and late charges as provided nt the Note. and the principal of anci interest
<br />on any Future Advances sa:ured by this Mortgage.
<br />2. I+'tpit for Tam-red }owraece. Subject to applicable taw or to a written waiver by Lender, Burrower shall pay
<br />to Lcttd~ on-the day mondtty ittstatlments a€ prireipai and interest are payable under the Note, until the Nnte is paid in fait.
<br />a iwrrt (herein "Funds"1 equal to one-twelfeh of the yearly taxes and assessments which may attain priority aver this
<br />Mortgage, and grotmd rents on the Property, if arty. plus one-twelfth of yearly premium iastallments for hazard insurance,
<br />plus one-tvveifih of yearly-premium installments for mortgage insurance, if any. all as reasonably estimated- initially and from~~
<br />time to lime by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Ftinds shag be held in an institution the deposits ar acmunts of which are insured or guaranteed by a Federal or
<br />state agency (indttding Lender if Lender is such an institution ). Lender shat! apply the Funds to pay said taxes, assessments,
<br />irtsutance premiums and ground rents. Lender may not charge for so holding and applying the Funds. analyzing said account,
<br />orverifyisrg-amt compiling said assessments and bills, unless Lender psy'; Borrower interest on €he Futtds and applicable law
<br />permits Leader to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall he paid to Borrower. and unless such agreemera is made or applicable law
<br />requites such interest to be paid, Letrdcr snail not be required m pay Borrower any interest ar earnings an the Funds. Lender
<br />shag give to Borrower, without charge, an annual accounting ot` the Funds showing credits and debits to the Funds and the
<br />purpose far which each debit to the Funds was made. The Fonds arc pledged as a~ttiitianal security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds bold by Lender, together with the funrre monthly installments of Funds payable prior to
<br />tits dtte dates of [axes, assessments, insurance premiums-and ground rents, shall exceed the amount reyuired to pay said taxes,
<br />aawmenu, insuratce premiums and ground rents as they faB due. such excess shall tx, at Borrower's option, either
<br />promptly repaid Fo Borrower or credited to Bortnwer on monthh• instalments of Funds. !f the amount of the Funds
<br />held by Lender shW not tx sufficient to pay taxes, assessments, insurance premiums and ground rents as they fail due,
<br />HorrMrer shag pay to Lender any amount ntxessary ro soaks up the defiacncv wuhin 30 days from the date notice is mailed
<br />by Lsnder to Burrower regtusting payment thereof .
<br />Lipon payment in full of all sums seeuted try this 6lorrga¢e. Lender shall promptly refund to Borrower any Funds
<br />hehl by Lemkr. If under paragraph 1 g hereof the Proprm n sold or the Property is otherwise acgmred by Lender, tender
<br />shall apply, no later than immediately pnor to the gale of the Property or its acqurs:uon by Lender, any Funds held by
<br />Leader at the time o[ application as a credit against rhr sums secured by this Sortgage.
<br />3. Aplieat}n M ~ l;nless apY?r iaww t.ravi::rs a€trerwi:~, alt ^aym_nts .c~_eivR%+ hp Lender under the
<br />Note and paragraphs i anti 2 hereof shalt be apphed~by Lender firer in payment of amaun[s payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Nare. thin to the principal of the Nate, and then to interest and
<br />principal on any Future Advances.
<br />d. CMeS~ Liege. Boaower shall pay all taxes. assessments and other chortles. floes and unpositions attributable to
<br />the pr'opeety which may attain a priority over thn hortgage_ and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof ar. if not paid to such manner. by Borrower making payment. when due. directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all rrouccs of amounts due under this paragraph, and is the evert
<br />Borrpwrr shall make payment rlirecily. $arrewrr snail pron.ptty iurmsh to Lender receipts evtdeacrng such payments.
<br />Borrower shalt promptly dischazge any hen which has ern my ~:ver this ~tungage: provided. that Berrawer shall rest t,r
<br />ttgtuted to discharge say such lien sa song as Borrower shah ague in wnoug to the payment of the oMtgation secured by
<br />such lien in a manner aaxptable to !.ender. or shah in goad fat:n con+est such lien hy, or defend enforcement of such lien m,
<br />legal peoneeddings which operate to prevent the enfarcetrt~nt of the hen ur forfenure of the Property ar any part thereof.
<br />S. ~ }aaesaeise. Borrower shah keep rhr tmprovemerts now exrsung ar hereafter erected un the Pruprrt}• insured
<br />against foss by firs. ha:artls included w=ithin the term "rxsendeu caverage~~. and such other hazards as !.ender may reywrc
<br />and in such amounts and fox such periods as Lender map reyutrc: provides:, that Lrnwer ,hat! not reyutrc that the amount of
<br />such coverage exceed that amouat of ttneragr reyutred to pay tltc ums secured ht thts bfortgagr.
<br />The, iasurance carrier providing the msura„c~: shalt tx chmen by Burrowrr subject to approval by Lender; provided.
<br />that such approval shag nut fie unreasanabiy withheld. :vil premiums ou insurance pulictes snail he paid .n [he manner
<br />provided udder paragraph 2 hereof nr, rf nut paid in such manner, by Borrower mak.mg payment, whin dtre, directly to the
<br />itrsrrraatt cairns.
<br />AB irtstrrance policies sow rrnewats thereui snail t?r rn loins ace±ptab4 to Lendrr and shai3 lociude a ,tandard mortgage
<br />clause in favor of attd in farm acteptabit to Leader. L-endrr snail bars the right to hold the poiiclrs and renewals thereof.
<br />and HotroWer shalt promptly furnish to Lender ail rttrewal tx:ttces and ail rrcerpts of paid prrmwms- !n the event of toss.
<br />Brttrovershalt give puomp[ aotiee to the msurancr carrier and lender. 1_rndcr miry nial.e praa+t of F.°,,s ri not made promptly
<br />by' 8ortosrea.
<br />Unless L.tnder atni Botrazwt3 ottter»tse agree m writ?ttg, imurattce ps xeruds shall hr applied to resturatiaa or repair of
<br />the Ptt~perty datnagca. Provided suzh resta:atrun ar rrna.r rs economicaly feasible and [tze wuruy at this Mtortgage i,
<br />trot th.~ere',b,.y,t impaired. ff such testaraIIOn or rtpau rs not rcanomrcalt}~ trasiMe ar if the securty of this fvlongagr would
<br />be iOlpatrad, Ehe tt)3t2raneX pr0'Ceils shalt he applied to :tie sums xcured ht this ttottgage, wuh the elms, it an}. patd
<br />to Borrower. If tht Frc+pertg rs abartdanrd h} $urrowrr, or is Borrower tads to resgro:rd ut t_errdrr wi[htn 30 days from the
<br />daft aotice is maned by Erodes to $orrower that the insunutce carrier oilers to s<ttic .i ciaatn far insurance benefits, Leader
<br />is authorized m coiieix and apply the rtrsurancr prca<xtds at Lenders .~pttam either to restutatian , c re.paer ai the Fropeny
<br />or m the scans secured 6y this Mortgage.
<br />Unless Lenrkr and $ortower euhervvise agr~ to wnuttg. any such appitcatus+ ,J`- pt+a,zeds iu prmopal shah nut cucnd
<br />or postpone the due daft of itre rn~•nVhly' itrstallrnrrtts rrtrrred iu ::: paragraphs t end '_ hrrr.t} ur chaogr the arnoernt o.
<br />such instaIlrnettu, if under paragraph ; i; iteretvf rite Prt,periy 1s aeyutrrd h+ Ltndrr, ail right, otle atxl interest of Borrr!wrr
<br />in sad to any irwiranca po9iciea ours' sa and to rhr psacrede thereau resuioag irA,nr a.iarcage Fu rhr Propertq pnor u, ihr s<,ie
<br />o[ acgttl>arioa shall prix to t..znder to the rr.te_rt a! t_hf autos srcund t,y th;: ~?ottgagc r.rtxur.Yiratri} nrror t.• such .ale or
<br />~_
<br />f, prreaevatiar tree! Aiaitteesieca a€ ptugertt; t.tterhold5,: t~uaduquaiarsa: Ptaaned t.`ait [lexeiuprarnts. knrr>war
<br />shoe! kaep the Property in goad re^pait ant? shall riot contract waaze at c~em:t +mpa+r men. or detrrroratton of the Properts
<br />atedYAall comply-with3~ ptoti~saa nl any lease .t z§=+ !Uungagr ix ,ut a icaschatd- €! tor. ~?uttgner rs on s .,nu ui .:
<br />Coadominiurn ar a planned unit sicrefcyrntrrrt, Barrowrr €hafl psrionn all a t Lor r.>uet a rbiig~.uorrs ::rawer the dreinratum
<br />ot-wveaaots creating ar gnvernartg rhr co:.d ~nrrnram .,r piaitnrd cr:,n ds.`veiopnrrnt. t*te hp daze. .and rcguiatasrs a4 rhr
<br />~}jt (1t plan Llttlt oevelsprrmm, and i ir,':t3rtlleiFt uaGUnil'3iii. + .un,lcinllniurri r1I' lsiannrd ~+Y:1t u_, i•Jl~n.i'i t.
<br />rider is eateaetued-by Barrowea atxl recordui toLtetfrrr wlsh :h-+s ~4.,rtkugt:, ih. .,. a.;.rnts .,n:i aureetrrcnt,. .~t .+i,:h t~sdcl
<br />shtttl fie ittfiorpcraued in#© grid shall amend acrd s~ppierttni i;n; ~: ,enanin ar,.i ngicera:nix J*f r,. , #urtgaitr as ri t",, ..,,..
<br />xrMCe a.patt bttrwf.
<br />T, ~liS"Halt ~ Ler/er'a ~tttity, li }3oait=~~ex ia1~h tr2 pc~:runri t'itr ;nvrnutua and a,~eemcnta ronWOrc3 rn rhr,
<br />~, nr if"aiiy :rttieet or p€cx~ee;ltttg as ccvnmans;r+i which matetialis :vllra> t-emirrs :nre[est ui the Frr>pe,rry,
<br />iactrtding, but trtx limited ta, emittestt domata, m,c lvcnc} c.wis rnta.,a;crnrnt, JJr ai rangcmci.ta ss ptawceJ,oga .nv,r7e;ng >+
<br />banlttuiN ~ il~l?chtrtt. Then Lrirder ai ldrnKler`3 at+HS+YS, uptrtr outsie ?o Btxraru~ar. Wray ntnk.e xya-h sptx;ata+rc;.•n, d~ist*tnsc ~aat?
<br />e-tpie latee sttclS ~.tian ~ n rtty;es¢itrs to psi ii a Lender, mien est, rrrt lud}oy;, bsd nrr irmJte+l t". sf ch;rn., r:wnt , .
<br />raaf~iri~F attrriteeys lCCS and erirty cspun the lrro~Yta }t+ niai.e _cp.1 ~a* It t reuwrt ,-tyrancd ntonc:a~c lnsur an.c n,
<br />cotldittws nt niaks[tg tlyic.~in ::rx:urea h. sir:~. ~f.:.rrt~age. Hot r,,.s ~. ,s,ail a~ rite iii. m....... tcyu,: ci n., n:alsl<..,, ...,...
<br />ir~aaraaoe is etTas't uratil ?arch untE a .vvt rrqurrerrreaz fur vu i •r.,su;rn-. :..nirat.s ;~~ .,a.cvd~a:t >;a:to Butr.JUrr . „r..i
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