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<br />Urrti=txgM Cov-exst+TS. Borrower amt Lender covenant and agree as follows:
<br />f. Prynfrnt of Pa4ncip8i and I~itresl. Borrower shall prarnpily pay when due tht principal of and interest cr, the
<br />iridcbttdnrss evidea: t3 by the Nate, prepayment a .d !a?e charges as provided r; the '.+ote, and the prnci~i of and irtertst
<br />on any Future Advances secured by this Morgage.
<br />Z. 1Ptaads for Taxes and Insurance. Sub}ecz to applicable law or to a written waiver by ixnder, !3orrower shall pay
<br />Sa iendar an t?te day manihiy iastaiimerts of principal and,ipmrrst are oayahie under the Nate, until the Note is paid in foil,
<br />a slim therein "Funds') equal to ane-twelfth of the yearly tarts and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any. aloe one-rwe!fth of yearly premium iasta!lmeats for hazard insurance,
<br />plus one-twelfth of yearly premium installments far mortgage insurance, if any, ail as reasonably estimated initially and from
<br />time to time by Lender on Ehe basis of assessments and bills and reasanabie estimates. thereof.
<br />The Funds shall be held in an institution the deposits ar amounts of which are insured ar guaranteed by a Federal or
<br />stair agency /including Lender if i-ender is such an institution}. !-ender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may oat charge for so P;atdirg and applying the Funds. analyzing said acwunt.
<br />or verifying and campi}ing said assessments and bins, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and lznder 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 such agrcemrai is made or app@cablc taw
<br />esquires such interest to be paid, Lender shall nai ire regeired to pay Borrower anv interest or earnings on the Funds. i-ender
<br />shall give to Borrower, without charge, an annual accounting of the Funos showing cr~i*s and debits to the Funds and the
<br />purpose for which each debit io the Fords was made. The Funds are pledged as additional security for the sums secured
<br />by il;is Mortgage.
<br />If the amount of the Funds held by Lender, together .with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, sha[I exceed the amount required io pay said taxes,
<br />assessmenu, insurance premiums and ground rents as [hey fall due, such excess shag bt, at Borrower's option, either
<br />gromptiy repaid to Borrower or credited to Borrower on monthly installments of Funds. if the aatrn,nt aF ri,._ Fund_4
<br />hzld by Lender shall oat be suff~eient to pay races, assessments, insurance premiums and ground rents as they fail due,
<br />$arrawer shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lauder fA Borrower requesting payment thereof.
<br />3Jpon payment in full o€ all sums secured 6y thts Mar€eage. Ltndcr shah promptly refund to Barower any Funds
<br />htid by Lender. If under paragraph tg hereof the Property is said or 9hc Property is otherwise acgwred by Lender, Lender
<br />shall apply, no Later than immediately prior to the sale of the 1'ropeny ar its acquisition by Ixnder, any Funds held by
<br />Lendtr at the time of application as a credit agai ut the sums secured by this Mortgage.
<br />3. Apptlication of Paymtnts. Unless applicable law prc>vidts otherwise, a;i pay'msnts received by Lender under the
<br />Noce and paragraphs 1 and 2 hereof shall be applied by Lender first to payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable nn the tio:r. rhea u. the principal of the .'ore, and then to interest and
<br />principal on any Future Advances.
<br />4, Ckxrges; I.Esas. Borrowtr shat( pay aB taxes, asstssmrnu and other ,bar res. fines and ;mpcrs;nuns attnburahle to
<br />the Property which may attain a priority over this Alortgage. and leaseheSd payment, oc ground rents, if an}~. in the ma,-tner
<br />provided +a^.dsr paragraph 2 hereof oc if not paid in such manntz, 6y Borrower making payment. when due. directly to the
<br />payee thereof. Borcower shall promptly furnish to Lender a!1 neucrs o,* amrunis Jvr under this p-aragraph. and is th e event
<br />Borrower shall make payment directty. Borrower shalt promptly furnish to Lender receipts eetdeaaag such payments.
<br />Borrower shall promptly discharge any lien which has pnanty over this Mortgage: provided, flat Borrower ~-hali net be
<br />required to discharge any such lien sa long as Bormwrz shall agree in ~.,ritiag to the pa!;inert of the ,,bi:cannn secured by
<br />str'h Sian in a tna:~r arcrptahlr to Lra@-er, nr shah in g.wsd earth c:anccse such lien by, or detead enfor:.ement ct sue; iiezt ;u,
<br />legal proceedings which operate to prevent the ertarcemrnt c>f the loco or forfeiture of the P*o~^} nr an} part thereat.
<br />3. Ifuzard Insnraeee. Borrower shah keep the improvrntents now rnisun¢ ,~r hereal ter erected as the Pz:^oerty insured
<br />axainst Ions by 5are- hazards included within the term "catrnded .cn-stage `. and such other hazards as fxnder~m-,+ rewire
<br />attd i ; 5th :3 a,,.anru ar,d far sorb peri4'ds as Leader tna_v requ.re: orovidrd, that i ~rrdrr shall a.,t r _
<br />sorb coverage earned that ~~.u•~, of cevarage reyuurd to pay the =time scored by t`.^.:s ~forrgagrnl- -- --- "-- ------- ~-
<br />T'he .rzsrrra.,or ;_ V~;d:.^.g the. t^.3uran ~ ;hat - ir;tn - ' ~r-_ >we, - - ,
<br />tltat such approval snail not be ttnreasanab!v withheld A!1 prcmeunes :,n :nsrr,,.rne !?v.liy shall h_ _, ii! ~s ,_.
<br />provided node: paragraph y !(Src~i er, sf :at paid in such manner. t;y &xrawr: making payment. when due. +iia -i!} to ere
<br />imsuram:e carrier.
<br />Afl insurance policies and renewals thereot shall ~ in farm acceptable ru Lender and shah insiude -:.tandzrd m.~rtga Ke
<br />clause in favor of and in [arm acceptable to Lender. i_ender ,hall hate the right to hu(d the policies ane r:ne•=. a!s thereot.
<br />and Harrower shall promptly furnish to Lender all renewal noucrs and ell receipts ut paid premwm+ la the c, cat of k.+s.
<br />Baerawer shaPl give prompt notice to the insurance comer and Lender. Lender may make prop: of loss i1 not mace promptly
<br />by Borrower.
<br />Unless Lender and Burrower otherwise agree in writing, insurance proceeds shall be applied to rerun ration „r repay of
<br />tine Property damaged, provided such restoration ur repatr as ecmromicakty feasible and tttr secuzity of th^ ?:tongagc :,
<br />nest thereby irdpaired. if such restoration or repatr is not ccoaumtcaliq frasble ar a! ihr sec-unty of this Mor?gage w-„old
<br />br impaired, the insurant:r proceeds shall ter applied to the sums secured by this Mortgage, will the r«~:.~.s, :t .:ny-. pare
<br />to Borrower. 2f the Proaerty n aba-adnned by a., "rewr.. er :t Borr:,rr fa,is ,~ ,e,pon,i t- -- er w:th,n --- -,- the
<br />dace notiw is mailed by Lendtr to Burrower chat the utsurance earner otters to settle a cla:m~[ar :nsursnce 16enehts, Lender
<br />is authorized to ;.:.Sleet and apply the insurance oraceeds at Lender's opttim eitfter to restoraton or repatr of the Pn>fx:ny
<br />or to the sums secured by this Mortgage-
<br />Unlcss Lender and Borrower otherwise agree :n writing, .my such applcation of pr n:ceds to pr:ncip::! ,hall net c:tend
<br />or postpone the due date of the momhiy installment, re(rrred to in paragraphs I and ? hereut or thaage the arnuuni of
<br />such insiatimrnts, if under paragrapfr !g hereof the Property is acym:ed by i,end.sr, ail right, uric and ;merest ut Ho; r;,h er
<br />in and to any insurance paticies and in and to the proceeds thereot resulting fror?t damage to the Property poor to the ;ate
<br />or acquisition shaA pass to i.rnder to *._he extent of ttte enrol >ecuteJ i+y this A4<:rtea~e :mondial€-iv _. ,. ---_ ,.,1_..+
<br />a:,yusitivn. - - .. ..
<br />~• ~S-=rt+"-si~'» ~ ~!~.r~~t sf Fromm :-: tFasehct3:: anGarzittiums; :=canned Unit eirseiapments. isi,rro.. cr
<br />srtatf keep rite Frapett}' in goad repair srtd shall net commit waste .,r permit impairment or derenorauoa ut the Property
<br />and shalt comply with t.hr provivans of anv lease if shin Mortgage r; oa a: ie~eh~id. if €ln .'+l crtgage :; o- r unit is a
<br />i:~undomintum of a plane€d t:nti c4eve4aftmrat, $ocrsrwer shat; partu,rrn a!1 of Borrewcfs ,+bhgau:~ns under the dedar anon
<br />or covenants caroling or govenrang the cundumiamm or planned unu dtve!upmcn±, the by-laws and rcgulauons +rt the
<br />,.., ,,.
<br />cersdomtzu=.:m tar planned utui drvslopment, .wd co~t;;ent ai~:umsnts- Sf a conil=',rninium : r r,;arned ,.,,,, .,.vci,-~nten€
<br />rides' is ex€-,:nt~d by _Brrr .ut r n,Ft~~ ~.s,« .,
<br />- - ___ -_ ."s_-~_ , v, ,.. emu! .h....:crigage, f - ca.cnanu sac agreementz ~.,, ,ucti ::drt
<br />sAafl as rtxatgaraied into rand she!! artiead aud`supplem_•nt{thc• covenants and agrermrnis ul ihu ifengagc e, a the n,!et
<br />were a part hereof.
<br />7. Frutectiau of Leadxrs Security- if Harrower fails n> :.crtorm the savennnr, an ~ al{n'er::ca,t ., ii t i+
<br />,.., ! i
<br />Mar?gage, ra if nay aitzoa ~,r proctevrug +s ~omnxrr~ec! which materially .i+; e.ts !-ender. ~nttre:t uti the-P>•.,pc r+..
<br />itrd~htg, +ut rax !imriet€ tq em:ntnt +iaman;. insoivercp. ,:udc c:r'orcemrrsi, c,r ~rrangcs;tents „ ,rr:'dnie~ a v:=ismr e
<br />issrt4nrpx to dre~zdr.~ti, thtrt Lender at f en<its's opuui,. cipnn rint:ce t„ 6arr.,wer. ma} r.:,,, - .pix:ara t=..e,. ;:~,.,ursc ;.:,:h
<br />su~,n arA+ `axe srnh :r.ian a. is rrecr,sar} to prc,tut L.endsr-. ;n re-. .n..i. "rr.. F,-,.•.,_, '.m.e,i - ..loin-c -.snit
<br />- - ='=a; - -- y"F leas rm~s Ln:ry rl*-.e ~ - >,n€rt. re ke i - ,ry
<br />..aadtt;i;n f ma~ia~ the Srae,. sc _ +~ .,,_, ._ +-i .., -:,,-~..~ , ,---- - - - - -
<br />ia;strarh:~ fn tcttc. :loll! rush t=_~ - .h_ ._5 ~++.t sv._ ,.. ..rs r_.. ... ... .... ... .. u,,.~r + . , a. ..xc .,.i„
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