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<br />8~_-OfiI937
<br />UxtFOaM Covaxsx7s Borrower and Lender cnvenant and agree as follows:
<br />1. Paymeet iN Pt#nclNt nit lirterest. Horrawer shall promptly pay when due the principal of and interest on the
<br />ittsiebiedtsesa evidtriced by the Note. prepayment and late cfiarges as provided an the Note. and the principal of and interest
<br />on any Puturc Advances secured by [his Mortgage.
<br />2. Fonda for Titrrta and Itsanranee. Subject to applicable law or to a written waiver by Linder, Borrower shalt pay
<br />to Lender on the day monthly inata8ments of principal and interest are payable under the Nate, until the Note is paid in full,
<br />a sturi (harein "Psrssds'~ equal to one-twelfth of the yearly razes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if am', plus one-twelfth of yearly premitsm installments far hazard insurance,
<br />plus one-twtifth of yearly premium installments for mortgage insurance, if any, all as reasonably tstimated initially and from
<br />time io time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits ar accounts of which arc irssured ar grrarameed by a Federal or
<br />state agency (including Lender if Lender is arch an institution). tender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for sa holding and applying the Funds, analyrng said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Fursds 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 />Mortgagt that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest :0 6e paid, Lender shall not be requited to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the l=ands allowing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. Tht Funds are pledged as additional security for the sums secured
<br />by thin Mbrtgage.
<br />if iht amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
<br />the dttt dates of razes, assessments, inwrancc premiurss and ground rents, shall exceed the amount required to pay said taxes,
<br />aasesataents, insurance premiums and ground rents as they fall due. such excess shall be, at Borrower's option, either
<br />promptly rtpaid to Borrower or credited to Borrower. on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sttfhcien[ to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lendez any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this ortgagt. Linder shall promptly refund to Borrower any Funds
<br />held by Lender. [f under paragraph i8 hereof the Propem' is sold ar the Property is otherwise acquired by Lender, I-ender
<br />shall apply, ito later [hart immediately pricer ro the sale of the Property or its acquiation by Lender, any Funds held by
<br />Lender at the urn of application as a crcait against the sums ;ecurcd by this Mortgage.
<br />3. ApPlieatian ~ Paysne~. Unless appL•.cabie law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs t and 2 hereof shall be applied by Lender first .n payment nt amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. iC~et to mmrest payable on the '.V Ore. then to the principal of rite Note, and then to interest and
<br />nnncipal on anW Future Advances.
<br />4. C6aex~ f:3ms. Bortower shall pay all taxes, assessments and ether chargts. noes d- ,mpasitieos aftribt!tahle to
<br />the Property which [nay attain a priority over this Mortgagt. and leasehold payments or ground rents, if any, in the manner
<br />pw a...a un~r p-ra@S'-ph ? httrnf +?r: if not oatd m such rnanntr, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shalt pramprly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Bortawer shad make payment directly, Borrower .hall promptly hrrmsh to Lender receipts evidencing such payments.
<br />Harrower shall promptly discharge any lien •a•h!ch has nnanty over this Mortgage; provided. that Borrower shall not be
<br />required to discharge any such lien sa long as Harrower shall agree in wasting ter the payment of the obligation secured by
<br />such lien in a manner acceptable to Linder, ur shalt to goua faith contest sueh hen by, or defend enforcement of such lien in,
<br />legal praccedings which operate to prevent the enforcement of the hen or forfeuure of the Property or any part thereof.
<br />5. Haaard Imairasxt. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included withsn the tern[ 'extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may reyuiri; provided, that Lender shall not reyuire that the amount of
<br />such coverage trss:ecG'ir`+st :.[noun[ ~ 'age riqu;:td to pa}• :hi s_ __- .!!red by this Mortgage.
<br />The insurance carrier providing the insurance shalt be chosen by Borrower subject to approval by Linder, provided
<br />[lace[ such approval shall not be unrtasonabky withheld. All premiums tin insurance polities shall he paid in the manner
<br />provided under paragraph 2 hereof or, d twt paid in strwh manner, 6y Harrower making payment, when due, directly to the
<br />irrwratrce carrier.
<br />Ait insurance poiierts and renewals tfiereoi shat' be m form acceptable to Lender and shall include a standard mortgage
<br />_i..,rt in favor of and in form ac4iVia`ul2 i., [.code:. Li:tctir >hall have the right to hold the policies and renewals thereof.
<br />and Borrower shad! promptly furnish to Lender all renewal notices end all receipts of paid premiums. in the event of firs,
<br />Horrawer shad give prompt notice to the ~nsutan;:e cxrntr and Lender. lender may make preot n( loss rf not made promptly
<br />by Born»ver.
<br />Uitkss Lender and Borrower oihtrwrsa ague in wrung, insurance pr.xttdi shall be applied to restoration ar repair of
<br />the Property damaged, provtdtd such rtswrauan or rcpau s economically tensible and the security of this Mortgap^. is
<br />rsot thereby impaired. If such :cstorauott ar repair s not economiwiiv feasible or i( the seeunty of this Mortgage would
<br />bi rtApairtd, the mwtance prcxecds shall he applied to the sttnss soured by this Mortgage, with the excess, if any, paid
<br />to Horrawer. If the Piropert} is abandoned fry Horrawer, i>r it Bar rower tails to respond to Lender within 3U days from the
<br />date nMtce is marled by Lender to Borrower that the insurance earner Driers to settle a claim for insurance laeniBts, I_tnder
<br />is autharszod to calks[ anti apply the assurance precieds at Lender's option either to restoration or repair of the Property
<br />ar w the soma sutued by this Mortgage.
<br />Jalas Lcasder snarl Harrower otherwise agree in wrung, an} such application of proceeds io principal shall not extend
<br />or pasipane the due date of the monthly installments referred to in paragraphs 3 and 2 hereof or change the amount of
<br />such :ssst:rUeuinta. If under paragraph "t8 hereof the Property is acywred by Lender, all right, title and interest of Harrower
<br />in and to oay insurance policies artd in astd to rite proceeds thereof resulnng from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender ie the txttnt ai the sums secured try this Mortgage imrrsediately prior to such sale or
<br />acgttiaition.
<br />6, irsmew+sstiom aced :Naintertance of Property; Leasebetds; (.ondomiaiuma; Phased Unit Develagtaeata. Borrower
<br />shall keep the Properly in goad repair and shall not commit waste or permit impairment or dctcriorauon of the Property
<br />and shall comply with the provisions of ace}' !lose if this Mortgage is an a leasehold. If this Mortgage is on :s unit in a
<br />caadtxrrinium or a planned soul development, Borrower sttaR pcrfarrn all of Borrower's abliga4ons under the declaration
<br />ar etweiaaau creating or governing the wndomimum or planned umi development, the by-laws and regulations of the
<br />caardatputisun ar ptanntd unit development, and canaituint documents. If a condominium or planned urn development
<br />rider is txecuttd bS` Borrower and recorded tagethtr witn this Mortgage, the covenants and agreements of such rider
<br />shall Ir6 ittcorpocaGed into earl shall atsrtend and supplement the covenants and agreements of this Mortgagt as if the rider
<br />watt a gall hutof.
<br />9, PtraMn`dsaa a[ Iao>,dat•'s Yecasi+~. if Harrower tails to ptrfurm the covenants and agreements rnn!aitsed in thss
<br />Mina to if awry aviiou of pr:n:aidiag s cortratence€3 which materially ai7ects T-ender's interest in the Property,
<br />itscludisrg, but oat IitaitrA ta, emirrcnt dotasin, insolvency, c.rde enforcement, or arrangements pr proceedings involving a
<br />h#idKt'ttpi or dncs-dtrst, rhea Lttxter at Letaltt's option, upon nati;,e ur Horrawer, ma}' make suds appearattcts, dislisrrst sueh
<br />std asd folio such as7tiixa as tt tmcessary to protect I.tntkr's interest, including, twt oat Itmittd to, drsbtrtsement of
<br />reatusalzie utoraey's foes aced crstry upon the Prtrptrty to make repairs. if l,eixier required martgage- insurance as a
<br />cs`iag of tsiakitif the lawn stxtr€~l by this hortgage, Harzower shat! pot the premiums riquued to maintaut suds
<br />io atfitrt ra[[[il such [fast as the rtttuitemtrrt tar such irrsuranet ttrminatts in accordant:[ with Borrower`s acrd
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