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<br />81-- t~U34?~'
<br />Uxrt=aaar COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. lfyeat et[ rrkeclpN rind letertest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by tht 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 />~, Fate~ler'1'tratw apd tmeeaoaee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Ltader on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a stem (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priarily over this
<br />Mortgage, and ground- rutty on-the Property, if any. phrs one-twelfth of yearly premium installmtnts-for hazard insurance.
<br />pins rtrx-tweifth of yearly premium installrrrents for mortgage insurance, if any, nil as reasonably estimated initially and from
<br />6tne to time by Leader on the basis of assessments and hilts and rcasonabie estimates thereof.
<br />The ponds shah be held in an institution the deposits or accounts of which are insured ar guaranteed by a-Federal or
<br />start agency (including L.endu if Lender is such an instinnian). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums amt ground rents. Lender may not charge for sa holding and applying the Funds. analyzing said account,
<br />or vetifyi.ng and compiling said assessments end hilts, unless f_tnder pays Borrower interest nn the Funds and applicable )aw
<br />permits f.dtder to make such a charge. Aorrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall 6e paid to Borrower. and unless such agreement is made or applicahle law
<br />requires such interest to be paid, fzreder shall not he required to pay Banawer any interest or earnings on the Funds. Ixnder
<br />shall give: to Borrower, without charge, an annual acrnunting of the Funds showing credits and debits to the Funds and the
<br />' pttrpoae far which pch debit in the Funds was made. ~(lte Fonda are pledged as additional stcurity far the sums secured
<br />by this Mortgage.
<br />1f the amount of the Funds herd by Lender, tagesher with the future mamhly mstallmenfs of Funds payable prior to
<br />the due dates of taxes, asaessttteattx. irmerance prcminms and ground rents, shall exceed the amount required to pay said taxes,
<br />, a... .rh c6aB !+. tLvrn nnunn. either
<br />praaptly repaid to Borrower ar crtdtted [U,Borrawer an .monthly mstaUmems of Funds. Itrthe amount of the Funds
<br />hdd by Lender shall oat bt sttfliciutt to pay taxes. attsassments, insurance premnrms and ground rents as they fall due.
<br />Sarratves shall pay to (.ender any amount necessary ro make up the deftcrencv wuhin 30 days from the date nonce is mailed
<br />by Ltp~r to Borrower rrgteesting payment tiiereai
<br />[ipan paytaent to foil of art sums secured by thts Mortgage. Lender shall promptly refund to Borrower any Funds
<br />herd by Lender. it urger paragraph IN herrrf the Propcny +s sold ar the Property ~s otherwise acqurrcd by Lender, i_ender
<br />shall apply. tto later thrri +mmcdiatdy poor to the sale of the Property or us acgmsawn t±y Lender, any Funds held by
<br />L+mder at [be tirsx of application as a credit against the sums se+:ured by th+s Mongage.
<br />3. Appieat3err d pV'~+++u- Unless appticah}c taw proyrdes athcrwtsr. all payments received by lender under the
<br />NOIe and paragraphs I attd 2 hereat shall be applied by lender first :rs pa4mem a£ amounts payable to (.ender by Borrower
<br />cadet paragraph 2 herexrf. ttren to interest payable nn the time. then to the principal of the Note. sod then to interest and
<br />priadpal on any FWUre Advances.
<br />~. C:~ Liees. Sattower shat! pay all taxes. asses.men€s :+nd .ether ~harltrs. iiraes and rmpasiuons attributable to
<br />the Property which may attain a prrority over thrs \tartgage, and leasehold payments ur geooad rents. if any. in rice manner
<br />provided under puagraph 2 Mrr` or, sf rot pa+d ,n such manner, by &urower making payment, when due. directly to rho
<br />payee iheruaf. Borrower shall promptly furnish to t ender atl ounces el ama+ms due under this paragraph, and in the event
<br />Borrower shall make payrtrcm dtrestty, Bottz€wer ~hatl f,ramptly turnnh to lender receipts evidencing such payments.
<br />Bottosvu shall praruptiy discharge any .ten which has rr+urrty +rvrr th+s Mangage: provtded. that Borrower shall not be
<br />regwrcd to discharge any stech lien so long as Barniwer shah agree rn wrrung ra the payment of the obtigatian secured by
<br />such lien in a manmt asreptabk to l.ereder, :x .halt m good lanh z:untcst such Iran hy, or defend enforcement of such lien in,
<br />legal praccedatzgs which operate w peerent the cnfurccmcnt o1 the k,er. or larlerWrc of the Prapertg ar any tract thereof.
<br />S. limrB futteattwv, Borrower shalt keep the rmprasrntents now errsung or nereatar erected on the Property insured
<br />agaitui lass by fire. hazards inc~~ded wnhm the term "extended t,rocx agt .and s+ach other hazards as Lender ma}' require
<br />and iu such amounts and far such pertuds as l.crtder may reyttuc. pr.rt+deil, that Lender :hail not rcgtrire that the amount of
<br />such coverage excexet that amcmnt ,.=f cayeragr rcgwrrd rr> pay tkrc .cams seturcd 6y th+s Mongagc.
<br />The ittwraoce carrier provtdsng the insurance olio(( tae .hc>scn hp Harrower subject to approval by Lender, prov+ded,
<br />that such approval shall nor be unreawnably withheld, Ali prcitxumms =gin insuran:e pa{ieres shall be paid to tht manner
<br />provrded ttnrkr paragraph 2 htreut ur, ,f cwt patd in such nwmrcr, by Banuwer making paymen4 when due, directly to the
<br />ittaruatsce curio.
<br />All iasurttnce patteaes and renewals thtrsaf shat} tz xn farm acceptable to f.crxter and shall tndude a standard mortgage
<br />clause in [avor of and in form xccptablc to ixnder. (.ender yha11 hays the right to Iwld the paltcies sod retxwels thereof,
<br />acrd Bo[rawtt shall pranptly fur»ish to Lender all renews! cwt:cos and ail retttpu of paid prr:miums_ In the event of loss,
<br />Borrower sltatl give prompt notxe to the trrsurattcc carru:r and i,er€der. Lender may make proof of loss if not merle promptly
<br />by Barrawu.
<br />Utsh~s (.aortae and Bonower athuwiw agree in wrrttng, ,nsurartce psaxeeds shall be applied to restoration ur capon of
<br />the Proputp damayied, provided sttttt restorauan ar report ra cconamwally leas+ble and the scsurity of thrs Mortgage is
<br />tat thoreby inspaited. If such rcstarauon ar repaar is oat ec;~numrcaily feastttle ar tt the security of tats Mortgage would
<br />be itrtpaired, file itsurance praceats shall be xppiicd to the sWIIS secure) b> this bortgage, with the excess, if any, Patd
<br />to 8orrowcr, ff the Prupeny is ahandancd by Harrower, rr :t $or,*awer fa+iy to respond to Lender wttttm 3u days from the
<br />dais- uoaice rs rttaiie¢ by Lcndar to Barninver that the ,nsuratt<e carrier atfers to settle a claim for insurance txrtefits, Lendu
<br />is tsuileorizexi to collect and apply the ensurarace pr~v5ctxls at lender-s option erthet to restoration or repair of the Property
<br />ar to the stuns sts-ured by this Mortgage,
<br />Udess Leader acrd Borrower otherwise agree rn wrHmg, any such application of proceeds to pnnapal shall not extend
<br />ar pmtpove tht due date td the ttxxuhly ittatallmutts referred to in paragraphs t and 2 hereof or change the amcntnt of
<br />utrcEt insgUmeau. if ttrtder puagraph t S hereof the Prapeny is acquued by Leader, afil right, title and roteresl a} Borrower
<br />in and to as}` inaurate.e pol.ecia and tai and !a the pr<xcexis thereat resulting from damage: to the Property prrat to [hc sate
<br />tsr acquisition shalt pats to Lander to the extmi of the soon scented by this Mortgage immediately prrar tp such sale ar
<br />~~
<br />6, )lyaaavyiiriil• mad hfaiateeatscs d Property; Lt-asehefds: CaQdoeiaiuaaG PYnw.d Unit Devtfop>aents. Borrawe:r
<br />shall kcop the Ekyperiy io gaxad repair and shall trot comout waste ar permtt impairment or dueriontwn of the Property
<br />and shall coasply Kiwi the provisions of any tease if this Mortgage is ann icasehald. if this Mortgage ix an a trait in s
<br />cxsadatni;nrtttn ar a ptannu3 untt devcla~teent. 8arrrrwer shalt perform all of Borrower's ob{igauons under the declaraturn
<br />of corapasts crWUV$ or gavertsiteg Lhe candummeum ar planned ant[ t}eyelopmetrt, rho by-laws and rcgula[ians of the
<br />erxstf~riinitem ar planned rinii a>iavclapmtnt. and cturstituent dacutncnts. if a condominium or planned amt deyckiprnent
<br />risiter n ueCUted by 6armwtr sad ttirotded tzsgethct with slits Mortgage, the covenants and agr~tuurt: of such radu
<br />> ~ iaeOt'~tors}ad into and shalt arae;id ancf strppkmcnt the cay~uants and agtetmeats of this Mortgage as :f the rizftr
<br />wrrt a p_ ua_ hca~.
<br />3 t~lsesJrrs a[ 9nLUlq. ti Borrsxxet tatty to perfarrrt the covenants and agratttenu eantatned m this
<br />~, ar ~ spy ttctian or proctafusg +s corttmcnctd which materially adacu f,erider'a ipte+tesi in ilia Progeny.
<br />it+ciuding, lint trot lartifari ta. emiau# tfotnain, ktasolveta y, rxrde enforccrrunt, ar arrangements or pracccdings involving a
<br />btgr~anupt rte d+eccdstsf~ }itcu i.tctr~r at 4.eadar`s option, upon twticc to Borrower, may make atei:it appearatec~, disburse snch
<br />Rt7igi timd t~ltt suety act"(ara u ~ necessary to prait~r 1,endtr.`a merest. ntcluding., tsar oat lustited to. disbursertient of
<br />r~ atu9saay`s fad a~ wet€y upon the Priaperty to make repairs.. Tf Ltrtdcr required mortgage insurance as a
<br />rdn t5f tt~tigg tAe rasa st~rxaci by this Mortgage, B4srroxver sfiali pay rhC prctniurns rcquSratf to nuintdin such
<br />~ at~a4t ut£ii susiy 4~ as ttse txa~}uiie'AMrtt fat sank :muranee_ terminates ,n acaarlanke wtth Bprrxswtr's and
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