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<br />Ucrst=artnt Covi=~rn4xs- Borrower acid Lender cover~nt arm agree as folkxsrs:
<br />1. Paymnat of Prbscipl and Interest. 2orrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, propayment and late charges as provided in the Vote. and the prirtctpal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />1. Funds fw Teats a+sd loantate. Subject to applicable law oz to a written waiver by Lender, Borrower sfiall pay
<br />to Lender on the day monthly installmrnts of principal and imeresi are payable under the Note, until flit Noe is paid in full,
<br />a sum therein "Funds') equal to one-twelfth of the yearly [axes and assessments which may attain priority over this
<br />Mortgage, and ground rents on tln-, Property, if any, plus o[te-twelfth of yearly premium installments for hazard inwrance.
<br />plus one-twelfth of yearly premittm installments for mortgage insurance, if any. al( as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bifls and reasonable estimates thereof.
<br />Tne Funds shall be held in an institution the deposits or accounts of which are insured or 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 />i»sumnce premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying amt compiling said assessments and bills, unless Lender pays Borrower interest on the Funds attd applicable taw
<br />peernits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest nn the Funds shall be paid to Borrower. and unless such agreement rs made or applicable law
<br />requires such interest to be paid, Lsnder shall not be required to pay Borrower any interest or carvings ore the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose far which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lendtr, together with the future monthly installments of Funds payable prior to
<br />ilre due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessmenu. insurance premiums and ground rents as they fall due, such excess shall be. at Borrowers option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lerttier shall not be sttflicient to pay taxes, assessments. insurance premiums and ground rents as they [a0 due,
<br />Borrower shalt pay to Lender any amount -necessary ro make up the deficiency within 30 days from the date notice is mailed
<br />by Lxrtder to Borrower requesting payment thereof.
<br />Upon payment rn full of all sums secured by this Mortgage. Lender shall promptly refund to Borrvweraany Funds
<br />held by Lender. If under paragraph Ig hereof the Property vs sold er the Property rs otherwise acyuired by Lender, Lender
<br />shell apply, no later than immediately prior to the sale of the Properly or its acquismon by Lender, any Funds hetd by
<br />Linder at the time of application as a credit against the sums secured by flits !vlvrtgage.
<br />3. Application tit Payments. Unless applicable law provkdea otherwise, all payments received by Lender under the
<br />Nate and paragraphs 1 and 2. hereof shall be applied by Lander fast m payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable an the Note. thin u7 the principal of the Note, and then to interest and
<br />pnncipai on any Future Advances.
<br />4. Charges; tieus. Borrower shall pay all taxes, assessments and other charges, tines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. in the manner
<br />provided order pazagraph 2 hereof or, rf not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shalt promptly furnish :o Lendtr all notices of amounts due under [his paragraph, and in the event
<br />Borrower shalt make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shalt promptly discharge any lien which has pnvnty over this Mortgage: provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall ag: ee in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, nr shall in goad faith contest such lien by, or defend enforcement vt such lien in,
<br />legal proceedings which operate to prevent the enforcement of the Iron ar farteimrc of the Property or zny part thereof.
<br />5. Hard [ttsutaace. Borrower shall keep the improvements now existing or hcreasttr steeled c+n the Property insured
<br />against Toss by Stt. hazards Snciuded within the Corm 'extended coverage". and such other hszanls as Lender may reyuve
<br />and in such amovots and for such periods as Lender may teyutre; previdtJ, that Lendtr shall cwt require that the amount of
<br />such covcragt e;eet~f that amount of coverage etyuired to pey the xarn.s secured by this Mortgage.
<br />The insurance carrier providing the insu€ance shall be chosen by Harrower subiecs [e approval by Lender; provided,
<br />~tktat such approval shall not tie unreaspnably withheld. Alt premiums on insurance policies shall he paid in the manner
<br />prsvidtd utidor para;sraph 2 litre.;`. v~, :f nai paid in such manrrz€, by Bo: rawer makrpg payment, when dot. d; re;.:ly to :bt
<br />inaUfaptt l.al'rler.
<br />Ali ia5ufat[Ce pofictes and ter - ~als thereof shall be in form acceptzble to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right m hold the policies and renewals thereof.
<br />ar[d Borrower shall promptly furnish to tinder all renewal ounces and a71 receipts of paid premwms. In the event of loss,
<br />Borrower shah give prompt nonce to the insurance carrier and Lender. Lender may make pravi of Iws if not made promptly
<br />by Borrower.
<br />Un[eas Lender and Borrower othetu~ise agree in venting, insurance prxeeds shall be applied w restoration nr repair of
<br />the Property damaged, provided such restoration ar repair s economically ftavble and the security of this Mortgage +,
<br />not thereby impaired. If such restoration or repair is not economically feasible or rf the security of this Mongagt would
<br />be impaired, the insurance proceeds shall be appiitci to the sums secured by this Mortgage, with the excess, if any. paid
<br />to Bm'rower. if the Property is abandoned t+y Borrower, ar rt Borrower ]ails to respond to Lender wnhin 30 days from the
<br />darn notice is marled by Lender to Borrower that the insurance carrier offers to senle a da+m for insurance benefits, 1 eniler
<br />is aufharited to collect and apply flit insurance proceeds at lxniler's option either to restoraton o[ repau of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Lendtr and Borrower vtherw ire agree m venting, any such application of prue:eeJs to pnnupal +hah nut cxttnd
<br />or pvskpcme die dot date of the monthly installments referred w in paragraphs I and 2 hereof or change the amormt of
<br />such mstatlments. If udder pazagraph I g hereof the Pruperri- +s acquired ht Lender, all tight, Utte and interest of Horurwer
<br />in and to any tnsutance policies and in and to the proceeds thereof resulting from damage w the Proper} poor to the stile
<br />ar acyutsition shall peas to i-ender to the eutnt of the wrus secured by this Mortgage immediately prior to such sale or
<br />aw,ultibtion.
<br />ti. ;Praerva9au and Maituetsrwrce of Property; Leaeebeldst Cortdosaiaiusns; Planned Unit Dcvebpmeats. Borrower
<br />~ht_Il ke;.p the. Prv~rt=~ 3n g-~+eu1 re}+ait ansf shat test -~atncnit wa_cto er permu impairment ur dct•_riorauea of the Propery
<br />attd shall comply with the provis+v¢s vt any tease d th.-+ M¢rtgage +s tin a Ieasehs?Id. It ihrs :vtortg:ige i+ +,n ,+ unit in
<br />cvnstatrtinium tit a planned unit ds~vciupme¢i, Bvriowtr shall peN'urm ail vi Bortower~s u6hgaUCms under flit declarauun
<br />or cmetsants crendng or governing the candomruum yr planned urn development, the by-laws and regutatiom of the
<br />cundoani¢itrm or ptanped unit development, and u>nstitxnt docutntms. If a wndomimum or planned i,mt development
<br />rider is ezacutad (>y Borrower acrd reeortkd rvgttlttt with this Mortgage, the covenants and agreements of ,uch rider
<br />sDtaH be itteOrporated into artd thaB arptix! and supplemem the covenants and agreerntnts of this Mortgage as it the rider
<br />woe a pan lsertof.
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<br />.c .- v. a ~ q°. •s m.~a ~....ca - ai ~acii ~ni t , - aj[iccaYc'nin + - -- i -
<br />Mxxtgaje. or if any action or prosztdittg rs commenced wtn<h matertaliy aftectsw Ltrsdtr's imtrest in ,ithe~Proptny,
<br />~iru7uditig. but not limned w. eauntm domain. msstlvtncr. uuk to k~r,:ement, nr arrargtments oc proxeedings rnvvtvmg a
<br />bankrupt yr dectden:, then L.crtdtr al d..ciu#er's option, upon notice r., Borrower, may make such appearances. d+ahurat such
<br />trans amt take such action as n necessary to prcxsct [.xrukr s mttresi, including. tntt not limited to, .usburserttem .'f
<br />raasnnahle attortltys leer and entry upvrt tt7e Propt r[y to makt rpaxs. If Ixrseier ttyuiri mnngagt insurance as ,
<br />corsdttien sri mal[tng the {oar nzc+utd try t}us Iilxmjaje, Borrower shalt pay fns psemiunss rtyuoed ti3 nraentaut sw.h
<br />±nste:~9 in ~~t w!td !~,;:k tope zr t!tt reyuv:.tssnt €x ;[!: ensueanct teem:natty ,a a•:,;onia.:<c w+:h Hex :.:wt:'s and
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