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<br />UxtFattai Cave:snn;s. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Prinefpal and fnlerest- Borrower shall promptly pay when due the principal ofi and interest on t e
<br />indebtedness evidenced by the Note. otepaymeat and late charges as prm'rded rr. the Vote. and the principal of and interest
<br />oa any Future Advances secured by this Mortgage.
<br />2. Nnnds Pot 'Rues aAd Inauresee. Sutject to applicable law or to a writte» waiver by Lender, Borrower shad pay
<br />to Lender on the day monthly installments of principal and interest are payable :order the Note. until [he ?:ate is paid in full
<br />a stem (herein "Funds") equal to one-twelfth of [he yearly taxes and assessments which may attain priority over th+s
<br />Mortgage, and ground rents cn the Property. if any. plus ooe-twelfth, of pearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premium insiatimenis for mortgage insurance. if any, ail as reasonably estimated initially and from
<br />time zo time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Fnrids shalt be held in an institution the deposits or accounts of which are insured cr guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institutior. ). Linder shall apple the Fords ro pay said xaxes. assessments,
<br />insurancz premiums and ground rents. Lender may net charge for so holding and applying the Funds. analyzing said account.
<br />of verifying and compiling said assessments ono bins, unless Lender pays Borrower interest nn the Funds and applicable law
<br />permizs finder to make such a charge. Borrower and Lender may agree rn writing at the time of execution of this
<br />Mortgage that interest an the Funds shalt he paid to Borrower, and unless such agreement is made or applicable law
<br />requites such interest to be paid, Lender shall rtot he required to pay Borrower any interest or earnings on the Funds. Ixnder
<br />shall give to Borrower, without ciearge, an annual accounting of the Funds .hewing credits and debits tb the Funds and the
<br />purp.-xe fnr which each debit to the Funds was made. The Funds are pledged as addinonal security for the sums secured
<br />by this Mottgage.
<br />If the amount of the Funds held by Lender, together with the future manihly mstallmenu of Funds payable prior to
<br />the due data. of taxes, assessments, insurance premiums and ground rents. shall exceed the amount required to pay said taxes,
<br />assessments. insurance premiums and ground rents as they tall due. such excess shall be, at Borrower's option, either
<br />promptly repaid io Borrower or credited to Borrower on monthly installments of Funds. If the amount ai the Funds
<br />..r ,~na,°~: shat: .at be ;u;iuciri is pay taxes. assessments, msurartce premiums and ground rents as they fail due,
<br />Borrower shag pay ro Lender any amount necessary to make up the definencv within 3o days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereo;'.
<br />Upon payment in full of ail sums secured by this Morgaee, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property re sold or the Property is otherwise acgtured by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisiuan by Ixnder, any Funds held by
<br />Lender at the time of application as a credit agarns[ the sums secured by thrs Mortgage.
<br />3. Appllcatitm of Payments. Unless applicable law provides otherwise. al] payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall 6e applied by Lender first m payment of amounts payable to Lender by Harrower
<br />under paragraph 2 hereof, then to interest payable on the Nate, then to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />3. Charges; Liens. Borrower shat! pay all taxes, assessments and other charges. fines and impositions atvibuta6le to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manger
<br />provided under paragraph 2 hereof or, :f not paid in such manner. by Borrower making payment, when due. directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all nonce. of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has pnonty over this ;Mortgage: provided, that Borrower shall not be
<br />required to discharge any such lien se long as Borrower shall agree ir, wining to the payment of the ohirgation +ecured nv
<br />such Ilea in a intoner aecepiabie to Lender, ar shall in good forth romesr such lien hy, or defend enforcement et such fien ie,
<br />legal proceedings which operate to prevent the enforcement of the hen or forfevure of the Property or any part thereof.
<br />5, Hazard ftrstirance. Borrower shall keep the improvements new exrsung or hereafter erected on the Pn,pcrty insured
<br />again.*. loss by fire, %eaz~rds inrlu~ird .~ .~.... v,.~.-.~iv v.,.eragt- „er hazards as ..znder __ r__ __
<br />and sty such amounr~ and for such aeriods •as ~!n~nder may : ire: pr<,: rded, that L~en~der shat! not regmre that the zmount'o:
<br />Sits<s -'3ge e.__~=d : ,-.... :;t ~a="i;rage rC^y Uired t )ei:,a'• ;n:: -._ reiirred fY i .v.-rif.?a;<e
<br />'i$e insurance carrier providing the insurance shall be chosen by ~ forrower subject to a_ppraval by bender, provrded.
<br />t:tai such approval sit;7ii r-t be unrease.^.abiy w:thhesd. .iii Irem:ums . ~~ rnsurance pohctes siraE: be paid vn the manner
<br />Fravi~d~~ under p srzpfrr2 herect a,, fact paid :n su-.h mann.:r, ~ crrcwer making pu-yment, when due, :,trectiy ra the
<br />insurance carrier. ~r
<br />Alt insurance policies and renewals thereat shall Fc m form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in farm as:ceptabie to Lender. Lender shall base the right !o hold the pubnes and renewals thereof.
<br />and Borrower shall promptly furnish m Lender all renewal ounces and vii receipts of paid premrnms In the event of Ims.
<br />Borrower shall glue pmmpi notice ro the utsurance earner ant Lender. Lender may make prcoi ul loss rf nut male promptly
<br />by Borrower.
<br />Unless Lender and Borrower othenaee ag2e m wnhng. insurance proceeds shall be applied io restoration or repair of
<br />L-he Property damaged, provided such resmcatrou ar report u+ur:~rwally teastbte ~:~d the secunr~ ci this Morgage n
<br />net thereby impaired. If such restoration or rcparr a not ccunonac.+liy n:avhie or .! the securty of this Mortgage would
<br />be tmpaited, the insurance proceeds .hail be applied to rite sums x. ;tied h, this Mortgage, •.suh the excess, if any, yard
<br />to Borrower. If the Property' is abandoned b} Barmwct, or it Borrower tars ro respond m Lender wuhrn 30 days from the
<br />dale notice is marled by Lender to Borrower th.a the rnsurance ~arnar rafen m scale ., claim tm~ insurance benefits, Lender
<br />is authorized to collect and apply the mwrano~ proceeds :u lenders .rpuo;r enher to restoration or repsrr of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise ogre:: m witting. ens such mppfic::uon of proceeds to pnnapet shall not extent
<br />or postpone the due date of the munthl} imtallntena rater rat ru n: paragraphs gnu ~ hereof ur chaoge the amount ui
<br />such utszallments. if under paragraph ! 8 h+:reof the Propert} r., ;rcywrod by !.,ender, ail : rghr, tide and m[erer, of Borrower
<br />in and to gay insurance policies and in xnd to the proceeds thereot rewiung from damage to the Property poor to the sale
<br />ar aequisitian shall pass to Lender to the extern of [he sums secured by tills Mortgage immediately prior to surh sale ar
<br />. s£. Pcesa;.a:iun and A?ainteuance of Prsperi}; In:asehalds, inndominiums; Planned Unit lleveloomeuts. Borrower
<br />shall keep [he Property in gvad repair and shall not ummit ware ar perms rmpavmcnt or deterio raven of the Pm,~erty
<br />gad shal3 comply with the provisions at sup lease r; this Mortgage ., on :. leasehold. 1[ this Mortgage n tin ,; ;nu[ rn
<br />condominium or a planned unit development. harrower shah perform aft tit Borrower's nbl+gatwns under the declaration
<br />of covenants creating or govarmng fife ccndornuvum or planveJ amt deveiupmcnt, the by-laws and mgulatimu of the
<br />candansinrum or planned unit development, and constiwem Joc untenis. I(a mnJuminium or planned nor s?c.elnpmcnt
<br />rider is ereCUted by Harrower ant recorded together with ibis Mortgage. the cosrnatus ant agreement. at ,uch odor
<br />shalt he itieotporated into geed shall amend and arpptmtnent the covenant; and agrccntants of this .Y.urigagc as .r the rids-r
<br />were a pan 4ereaL
<br />7. Protection M 14en~r's Security. 3t Horrewe:r fads to perform the covcnauu and agreementy cor.ta:nad :n this
<br />Afatigage, ar if any aciian or proceedutg rs curnmeaceJ whr,h maranaHy affects t endec~s intcrest rn the Propert~•,
<br />including, but not limited [o, eminent domain, rrsoPo'artcy, cud: enforcement. or arrangemtnis o nruc~aedings mvutvrnt; a
<br />bankrupt car des;cdent, inert Lander ai 1 cadet's upircxt, upon rot:ce rv rorrower, m:r} makt .cr.ch ey µaraucca. Jrsburu su.-n
<br />sums and take stub action as it necessary to n:otecr t.st,dEr'.:rttcru.=t rn_;ud+ng, h,,. ..rt !:m;teJ u,. c::abu:~;;.n:e::; :.~t
<br />rrsraonabte attorney's taws and entry ;ep=os the Property ro malt It _ t - -
<br />conditiaa of nxaking the loan seiUZed try this Murigage t3enarder „+aa pa,. ;hc prvmi tine rcqu<r +--~ , n.aant u.. k:
<br />s°uFw7su.:= its e°£i:t trnzii iJfl iirra~ a she r2yurrcnrer~t rc[ .uih fnr.§it.5!1{;; r:_?(i#rfrate_s 'n :lf•_Jr'tYa::e[ '.t:ih` IF,:r ri ~'t-_ft- ~t.,,,r.
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