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<br />l,ritt=oaM Cot.•€r:wirrs. 1'mrtwver and Lender covenant arsd agree as foflows:
<br />7. Itaymest a# Peiacipai ttntl Ieterest. Borrower shall promptly pay when due the principal of an~tnterest an the
<br />indebtedness evidenced by the Nate, prepaymem and late charges as provided in ttte Note, aztd the principal of aqd interest
<br />an any Future Advances secured by this Mortgage.
<br />2, Yrustrs for 7'a~ and Irmatnme. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lenckr on the day monthly installments of grincipa} and interest a.-e payable under the Nee, unfit the Note is paid to full.
<br />a suttt (herein "Funds^) eyua! to one-twtifth of the yearly taxes and asseasrgsttts which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly prcmiunt imtalltnents for harard insurance,
<br />plus Otte-twelfrh of yearly premium installments for mortgage insurance, if ally, all as reasonably csiitnated initially and from
<br />tirnc io time by Lettrkr on the basis of assessments and bills and reasonable estimates thereof.
<br />The Futtds shalt be held in an institution the dtposits or accounts of which are insured er guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance prcrniums and ground rents. Leraler may not charge for so ho}ding and applying the Funds, analyzing said account,
<br />ar verifying and compiling said assessments a[td bills, unless Leader pays Borrower interest on the Funds and applicable law
<br />permits Lender 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 shat! be paid to Borrower, and unless srich agreement is made or applicable taw
<br />requires-such interest to be paid, Lender shall not be required to pay Borrower any interest or eamiags on the Funds. Lender
<br />shall give to Barroww, without charge, an annual accounting of the Funds showirzg credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. Ttte Funds are pledged as additional security for the sutras secured
<br />by this Mortgage.
<br />If the amount of the Ftmds held by Lender, together with the future monifiiy installments of Funds payable prior to
<br />ttte due dates of taxes, assessriteats, insurance premiums and ground rents, shall exceed the amoimt required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrowers option, either
<br />grompUy repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lerxler shat' not be stefficient to pay taxes. assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay [o tinder any amount necessary to make up [fie deficiency within 30 days from the date notice is marled
<br />b}' Lander to Borrower requesting payment thereof.
<br />Ugoq payment in full of alt sums secured by this Mortgage. Lender shall promptly refund to Borrower at:y Funds
<br />held by Lender If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
<br />sltalS apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Leader at flip time of application as a credit against the sums secured by this Mortgage.
<br />3. dfpplir~lon of Pa}•menfa Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note acrd paragrnphs !and _' hereof shall !x applied by Lender (lust in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal an any Future Advances.
<br />3. Clsargts, LEe~. Borrower shall pay all taxes, assessments and ether charges, fines and impositions attributabte to
<br />the Property which tray attain a priority over [his Morigage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />pa}•ee thereof. Borrower shat) promptly furnish to Lender ail notices of amounts due under this paragraph, sad in the event
<br />flgrrower she!! make payment directt}•. Borrower shall promptly famish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any !ten whrcF, has pnonty ever this Mortgage; provided, that Borrower shall not be
<br />reyuirtm to discharge any sucit lien so long as Borrower zttali agrrx in wrinng to the payment of the obligation secured by
<br />sr>i;h?is;a In s tsant~r a~pzable to f_°.r-der, a °haSt i g ~~d faith cc-ntest inch lien bv, yr :}z€end cote: =ment of such lien in,
<br />legal isixcceedings which operate to prevent the enforcement al the lien or forfeiture of the Property or any part thereof.
<br />5. ;!3arari htrvance. Borrower shat! keep the rmprnvements now estsung or hereafter erected an the Property insured
<br />against i5;ss `ray `art;, hazards inciuaed wiiltin [he term ",-xtended covtzage~~, and such ether hazards as 1_ender may require
<br />- ~.:::h amaun[s and far such parx~ds as Leader may requ!re: provided, chat Lender shall not require that the amount a,
<br />steCb'cgverarte exceed ihaz amount n; coverage requ,rgd to pay the sums secured by arts hior!gage.
<br />TI!e ituzzritace Cartier orgyid_ng [he i_nsuran,•e chat! be ,-hnann by Rnrreyw~er ~ulyeee ra appravai k.v i >,..der piftaA~
<br />rat suc7r apgraval shall not be unreawnabiy withheld. .iii premmms on insurance policies shall be paid in the .manner
<br />provided under paeagrrtph .2 hereof or, if not pard in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and reoewals thereof shall be m form acceptable to Lender and shat! include a standard mortgage
<br />ctattse in favor of and in farm acceptable to L; uder. Under shalt have the right to hold the policies and renewals thereof.
<br />earl Harrower shall grotngdy furnish to Lender all renewal wares and all receipts of paid premiums. In the even of ions.
<br />13ortvwer shat! give prompt notice to the insurance carrier and !.ender. Lender may make prop! o{ loss if oat made promptly
<br />by Borrower.
<br />Utiless !.ender and Borrower otherwise eater: in wrinng, iruurancc proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restaranon or rcpxu is economical{y feasible and the security of flits Mortgage :s
<br />not thereby impaired. !f strch restoration ar repair is not ecowmicaBy feasible ar if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall >x agpl~d to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Harrower. I€ the Properly is abandoned by Borrower, yr ;1 Borrower fails to respond tv !,ender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the inxurance carrier otters [o settle a claim for insurance benefits, 1_ender
<br />is authorized to collect and apply the insurance proceeds a[ Lender's option either to restoration or repair of the Property
<br />or to the sutras secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agrt:e rn writing. any such application of proceeds to prutcrpal shall nut extend
<br />or postpone the due dale of flit: rnanihty installmcnis interred tv ur paragraphs 1 noel ?, hcrcui ar change the amount of
<br />such installtneass. If ugdar paragraph 18 hereof the Property is acywred 6y (..ender, all right, title and interest et Berrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to tree Prapeny print io the stile
<br />or acquisition shall lwiss to Lender to the extent of the sums secured h} this Mortgage immediately prior to such sale or
<br />a°gttis~tiaq.
<br />6. 1's~rvatlna Zed 3iai3ttenance of Progesly; Ler+xMdds, f aedoritinlums; Flanged L`=•it lJPve.bgmente. Harrower
<br />shall keep flit Pragerry in good repair and shad not commit waste ur permiz impairment or deterioratiaa of the Property'
<br />sad sltafl comply with the provisions of any lease if ihts Mvrtgagc r u^ a leasehold. If [his Mortgage is on a unit in a
<br />autdutninittm ar a planned unit developrttent, Borrower shall pertonu all o€ Barraweis vbhgauvns wtder the dcclarauon
<br />qr covenants creating or gnveruing the cor,dom!nium or planned unit developmen4 the by-laws and regulations a[ the
<br />condvroitdum ar plattrted unit devefapment, and coastitueni dceuntents. if a condominium or planned amt devctopment
<br />rider' is executed by Harrower and recnrdesl [aveth~r wish th:5 4t.xtaae:- rh,> ~nrs i ~ _ _ :,f , „h -
<br />-°-_-, _~_ _vtiN~_~ !.._ ter...=mrnt< ... _.._.. .~,~r
<br />shalt be ituarparaied into sad shall amend and suogiemeni the wv'enams and agroenaeats vt flits Mortgage as rf the rider
<br />w'ete a gari. listen(.
<br />7. I'raf~•tittq of LE-ntlcr''s Saeurlty. if Be-grower fails to peztorm the covenants anJ agrezmen[s eantamed in this
<br />Mortgage, or if aqy action yr proceeding rs cornnreneed which materially arfects Lender's ~rsreres! in the P•opr;,rr.
<br />incfuding, but z!cx timif¢d ia, emui:ni duznain, insclvettcy, ct:ie enforcement, oz arrangemenU ar proceedings invcolvusg a
<br />Isanlttupz ar decedent, than t.e[sder at lxgder'i option, upon notice to harrower. may make such appearancws, deshurse srk:t:
<br />,orals and [a:e arielt actirte as is uec~:ssa.y tv protect (.curler's rnzcrest, mciuciing, but not hrnited ro, <i:s'vursen:cnt ,rt
<br />rea~xa,',te a to~y'a £- and entrj upon the Pre-pen} t:t m;-.fir repair.. i.en<icr re~nir~d mw:gag~ !nsurac.~c a; ..
<br />corztlttian nfrm;ilring tlte3ivart secured by this tefotigass, Bgrrvwer -t !! pa, rp;e :, m.v 3 _ _ ..i . _ --` - - .
<br />insuratise in effect unto such tiaxe as the rwyuire.ment far ur:ft sris_ r c ~. _n, -- -- ~r?- :_r + n t3 - --.- =nd
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