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<br />~3.--a~~(112E'v
<br />UxrnoRM Govexnr+rs. Borcower and Lender covenant and agrce as follows:
<br />1. Payment of Prtacipal and Interest. Borrower shall promptly pay when due the principal of and interest on rho
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />Z. Pry tar'S~as and Instrtarxe. S. bjeet to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Linder an the day monthly installments of principal and interest are payable under the Noes, until the Note is psid in full,
<br />a sum (herein- "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on ihs Property, if any, plus one-twelfth of yearly premium installments for hazard insurance;
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />rims to time by Leader on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be Geld 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 />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds 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 be paid to Borrower, and unless such agrcemem is made or applicable law
<br />requites such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shag give to Borrower, without charge, an annual accounting of the Funds showing credits and debits io the Funds ate the
<br />purpose for which e_ch debit to [he 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 ~y Lender, together with the future monthly installmenu of Funds payable prior to
<br />the due dates of taxes, assessmenu, insurance premiums and ground rents, shalt exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borcower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by bender shag not be sttf6cient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 3D days from the date notice is mailed
<br />by Lender to Borrower req[xsting payment thereot.
<br />iSpon payment in full of ail sums secured 6y this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shalt apply, no later char. immediately prior to the sale of the Property err its acquisition 6y Lender, any Funds held by
<br />Leader at the time of application as a credit against the sums secured by this Mortgage.
<br />3. App~adon ~ paymeata. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first m payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Yore. then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. C6arttea- Bens. Borrower shalt pay all [axes. assessments and other charges, fines and impositions attributable to
<br />the property which may attain a priority over this Aortgage, and leasehold payments or ground rents, if any, in the manger
<br />provided under paragraph 2 hereof or, if not paid m such manner. by Borrower making payment, when due, directly to the
<br />pays thereof. Borrower shall promptly furnish to Lender all nouces of amounts due under this paragraph, and in [he even[
<br />Borrower shall make payment directly, Borrower shall promptly h,rntsh to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over [his tortgage: provided, chat Borrower shall riot be
<br />requi.~d W^ discharge any such lien so !ang as Borrower shall agree in writing to the payment of the abligatian secured by
<br />such lien in a manner acceptable to Lender, or shall in govd faith contest such Iie^ by, or defend enforcement of such lien in,
<br />legal proceedings which optrate to prevent the enforcement of the i,en or farfenure of the Property or any part thereof.
<br />$, hazard Ittsnnoce. Borrower shall keep [he ,mpravemenls now existing err hereafter e:eaed on the Property insured
<br />against loss by Sre, hazards included within the term "extended coveragt". and such other hazards as Lender may require
<br />sad in such amounts and for such periods as Lender may require; provided, that Lender shat! not require [ha[ the amount of
<br />such coverage exceed that amount of coverage required to pa} the sums secured by this Mortgage.
<br />The insurance carriee providing the insurance shall be chosen by Harrower subject to approval by Lender; provided,
<br />that such approval sha$ !tot be unreasonably withheld. .4i1 premiums on insurauce pohues_ shall he paid in the manner
<br />provided under paragraph 2 hereof or, it aa[ paid in such manger, by Borrower making payment, when due, directly to the
<br />insurance: carrier.
<br />All insurance policies anti renewals thereot shat! t?e in form acceptable to Lender and shat) include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shell hate the right to hold the paGcies end renewals thereof,
<br />sad Borrower shall promptly furnish tv Lender all renewal nouces and all receipts at paid premiums. In the event of loss,
<br />Borcower shalt give prompt notice to the insurance carrier and Lender. Londe: may make proof of loss if not made promptly
<br />by Borrower.
<br />iJulest Lender and Borrower otherwise agree in writing, insurance prcxeeds shat! be applied to restoration err repair of
<br />the Property damaged, provided such restoration or repa,r is economically feasible 'and the security of this Mortgage is
<br />t[Oi thereby impaired. if such restaraaon of rcpau is not ecvnomically feasble ar ii the security of this Mortgage would
<br />be impaired, the inturana:e proceeds shall be applied to [he sums x:cuted by this Mortgage, wnh the excess, if any, paid
<br />to Borrower. If the Property ig ahandanaxt t+ti Burrower. ur i( Harrower faits to respond to Lender within 30 days from the
<br />date notice is mailed by Leader [a Borcower that the insuranx carrier Driers to senle a claim tar insurance benefits, Lender
<br />is authorized to collect and apply the insurance pr weeds at Lenders option either to restoration or repair of the Property
<br />or to t~ stints secured by this Mortgage.
<br />Unless Lender and Burrower athtMise agrc~i: ;n writing, arp such application of proceeds to principal shall not extend
<br />o[ postpone the due date of the manthl} installments referred to En paragraphs and 2 hereof or change the amount of
<br />such installments. If undo paragraph 18 boreal the Proper[} is ~cyuired h} Lender, all right, tote and interest of Borrower
<br />in slid to any insurance policies and in and to the prviceeds thereat resuking from damage to the Property prior tv the sa{e
<br />of acquisition shall pass W Lender to the extent aI the sums secured b} thra hierrgage immediately prior-tc? such sole or
<br />acqutsttwn.
<br />6 I?reaarttttlon and !-laiatenaace of property; Leaseholds: t;ondominiums; Planned knit Ihve-opwents. Borrower
<br />shall Steep tl[e Property in goad repair and shall not commit uastc or permit imoairment or deterioration of the P[opert}
<br />and sStaH comply wish the grovisions of any loses if this Mar[gagc {s an a Icasehald. If this 4torigage is on a unit in a
<br />condominium oz a planned snit development, Harrower shalt pecfotm all of Borrowers obhgauons under the declaration
<br />of covenants crt:atir[g or governing the condominium err planned unit development, the by-laws and regulations of the
<br />condominium or planned unit development, and constituent dacumcn[s. If a Condominium or planned unit devetapntent
<br />rider ig executed by Borrower and recorded together wish this Mortgage, the covenants and agreements u[ such rider
<br />elicit ~ in+:s5rpor+~', inter sal shall amend slid supplcn?tnt the covenants and :+greements of this Mortgage as [f the rider
<br />wecc a pout htu'oaf•
<br />7, Panttsstiai of Lsntler's Security. [C Barrowes faits to perform the covenants and agreements contained in this
<br />A#artsrge, or it -say action err proceeding is commenced which matesially affects tender s. nnterest in the Property,
<br />iaeludit[g, but tort limited ter, eminent domain, tnsvhency, code enforcetneni, or arrangcrttcrtts or proceedings involving a
<br />bitgtrupt yr tlxedent, then Izntkr ai Leudei s nptian, upon notice to Bareobver, may make such appearances, chsburse such
<br />sutras and take such as#ion as to ar~ssaz} to protect l.endsz's ,nett€st, Fncluding. but net limned to, d,sbursement of
<br />rattw;+a41o attortl4y's fees and entry upon slit Property tv mrkc repairs. If Lender required ntortgagc insurance as a
<br />condititan of makirsg II[e titan sacurerJ by lhta tvlartgal{e• Borrower shall pay the premiums required to maintain such
<br />iataN[a[twt iii ot'IeGi anti) sus'h lime as the rsyuiretzient fur ;uch insurauce terminates :n accardancs wnh 13orrawer's and
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