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<br />UutPOnzr~t !,trvEt+ara'ts. 68ROR'et and Lender covenant and as tea as follows:
<br />i. pay'?~f of Pril aa>~ IafetexR. Borrower shall promptly pay wlter, due lire principal yr and interest on the
<br />irrdcb2edttea3 evidcttecd by the Nofe, prepayment and Sate charges as provided in the Note, and the principal of end tntere.°?
<br />F:~-•ure Advart;rs €scu.°ed by this Cviortgage
<br />~, iP~tf;E f~'I't tt~ Itaee. Subject zv applicable law or to a written Waiver by Candor, Bcrroxver shad pay
<br />to L.e©dzr at t?ze day zt~sttihSy irn3tallmenfs of principal aced interest are payable under the Nate, until the Note is paid it foil,
<br />a sum fhtrein "Fonda") squat to one-twelfth of the yearly taxes and assessments which ntay attair. priority over 1:
<br />MoRgage and grotmd rents an the Property. if any. plus tote-twe}fih o€ yearly premium :nstaitments for hazard irtsurarrce,
<br />pins one-twelfth of yearCy premium ittstailments for mortgage insurance, if any, all as rettsonabiy estimated i¢itia)Cy and from
<br />time to time by Leader on the basis of assessments and bills and reasonable eetimascs tlxreaf.
<br />T'ho Funds shalt be held is an institution the dcposiu or accounts of which are insured or guaranteed by a Ftderal or
<br />state agency (including Lender if Lender is such an institution}. 1_ender shall apply the Funds to pay said taxes, assessments,
<br />ittttrrtuxe gremiums attd ground rents. Lender may not charge far so holdeng and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Futtds and applicats3o laW
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />ldortg:~ that tote€est an the Funds shalt he paid to Borrower, and unless such agreement is made or agpiicablc IoW
<br />requires such interest [o be paid, Lender shall nm be required ro pay BoROwer any interest or earnings on the Funds. Lender
<br />shall give to HoROSVer, without charge, an annual accounting of the Funds showing credits and debits tp the Funds and the
<br />purpose far which each dobit to the Funds was made. The Funds are pledged as additional security for the corns secured
<br />by this Mortgage.
<br />If the attmtmt of the Funds Geld by Lender, together with the future monthly installments of Funds payable prio€ to
<br />the due dates of taxes, assessments, insurance premiums end ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, ittaurance premiums and ground rents as they fall dtee, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited tv Borrower on monthly instalments of Funds. If the amoun4 of the Fonda
<br />heW by Leader shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Lender say amount necessary to make up the deficiency within 30 days from the dace notice is mailed
<br />by Leader to Borrower requesting payment thereo€.
<br />Upon payrntnt in full of al sums secured by this Mortgage. Lender shall promptly refund to Borrower any Fonda
<br />held by I-aui-• '. ..,,,...• ~rragrap6 lg hereof the Property Is sold or the Property is otherwise acquired by Lender. Len~r
<br />shag apply, no la[er than immediately prior to the safe of the Property or its acquisition by Lender, any Funds held by
<br />Lender az the time of application as a credit against the sums secured by this Mortgage.
<br />3. A~caUos of Payrasaeb. Unless appbcable iaw provides otherwise. all payments received by Lender under the
<br />N©[e and paragraph3 1 and G r`rereof shalt be appiee d ~" ~ -loci Ft,~t n: E.aymC^.t .^,f amOtrn~ navalHn fn 1 Ender hY BOROWC[
<br />under paragraph 2 hereof, tFu¢ to interest payable on the No[e,~then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Clktagea; Iieas. Borrower shall pay all loxes, assessments and other charges, fines and impositions a[tributabie to
<br />the Property which tray attain a prority over this Rlortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under pazagtaph 2 hereof nr. +f not pard m such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shalt promptly furnish to Lender all notices of amounts due under this paragraph, and in the oven[
<br />Borrowe[ shall make payment dttectly, Borrower shall promptly fumtsh to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has prority over this Mortgage; provided, that Borrower shall not be
<br />required to discharge any such lien so fang ss Borrow°er stroll agree m wntmg to the payment of the ub!sgativn secured by
<br />such lien in a meaner acceptable [o Lender. ur shall m good faith wn[est such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the cnfvrcement of [he hen or forferiure of the Property or any' part thereof.
<br />S. Haaard lasorartet. BoR-over shall keep the improvements now ezrsung or hereafter erected on the Property ensured
<br />against loss by tire, hazards included wuhm the teem "extended coverage". and such other hazards as Ixnder may require
<br />sad in stxh amounts and for such periods es L.cnder may regwrc: provided, that Lender shall not reyuire that the amount of
<br />such coverage exceed that amount of coverage requred to pay the wens secured by this Mortgage.
<br />'Ihe insurance carrier providing ehe insurance shall lac chosen by Borrower subject eo approval fay 1_endsr; provided,
<br />that €ucn appnyvat shall not oe unt'easonaltl} wttbheid, .~91 a?~tnsr~as uri tnsatrat-~e pallet a shall °.+-°v pazd tit ziu man.w.r
<br />provided tinder paragraph 2 hereof or, tf not pard m such manner, b} Borrower making payment, when dire, directly to the
<br />insurance cattier.
<br />All it[suranee policies a¢d renewtdp thereo( shall [x tit farm a.,sep:r9;~ to Lender and shat include a standard mortgage
<br />.,t~,~ i^. Faye ~.£ o~.i i~ f arm ~y@~tal3ta e;~ I~.utPr_ i e~naL_r s1,3l1 h34e :he right to bald the pD11C1e5 and renewai5 i'ocrcz;f.
<br />and Borrower shall prataptly furnish to Lsrder ail cane tuc~. anti ail :ecetpts o? pard pren,utms. In tlt. :<v:,nt at less.
<br />ns7Raarer coati give ~ro::spt .:utii-,: is +.,~ rum, ~..,.,_~ 4.a,,,==_ _. ~- ~v....~.. 4~........ -_ ..~ a pre?;,! o, .`-- -- ,--- rn3d~ ~ ,+ _ -
<br />Unteae Lender and Borrower otherwise agree in wrung, insurance proceeds shall be applied to reswrstion or repair of
<br />the Property damaged, provided Bach restoration or report is economically fcaseble and the security o[ this Rlortgage is
<br />not thereby impaired. !f such resWration or repay is not ewnomtcally teasib!e ur rf the security of this Mortgage would
<br />bo imparted, the i¢auranec proceeds shalt be applied to the sums secured by this Mottgage, with the excess, if any. pard
<br />to Borrower. If the Property is abandoned h} Borrower, ar it Borrower faits tv respond to Lender within 30 days from the
<br />date twtice is mailed by Lender to Borrower that the insurance earner offers w settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair at the Property
<br />w to the sums secured by this Mortgage.
<br />Uzdcss Lender and Burrower otherwise agree to writing, any such application of proceeds to pnncrpal shall not extend
<br />or poatptwe the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments. If under paragraph 18 hereof rite Property is acyutred by Lander, alt nght, title and interest of Borrower
<br />in and to any insurance policies and in and ra the pnuceds thereaT resulti¢g from damage to the Property poor to the sale
<br />at acquisition shall pass [o Lender to the extent of the Burns secured by this Rlortgage immediately prior w arch sale or
<br />acquisition.
<br />6. preurvai~t sad frialntenatace of i'ropetty; Leasetwids: Cpuduntiaiums: Plau¢ed Unit I?evelopments. Borrower
<br />shell keep the Properly in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shalt comply With the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is uu a unit in a
<br />n ~,~.n:¢i.,e. £ nt~na,t W_r d.=velan[>:Pnt. BarrnWer shall perform all of Borrower's obligations under the dcclarativn
<br />ar c~v_„a..~rs ereati~ yr gove?~€t;; the condominium or planned unit development, the by-laws and regulations tit the
<br />condominium or planned unit development, and cvnstituene dacuaients. if a cattdetntiniam c: planned tint: tleve!op:nc:tt
<br />ride€ is executed by Borrower and reeorded together with this Mortgage, the covenants and agreements ni such rider
<br />ahaA bo ittcorpotated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part heroof.
<br />9. PstrtccHap of LetttAer's SeetsriEy. It Burrower faits ro perform the covenants and agreements cantamed in this
<br />l~Io€tgaae, or if any actio:t or ptoe~tting is cammencsd which materially atfecta 1 cnder's irterest in the P=.tpeny.
<br />including, but rcpt limifed to, eminent domain, insolvency, code enforcement, or srrangentents or proceedings involving a
<br />bankrupt or decsdont, ikon Lender at Lender's option, opon notice ua Borrower, may make such appearances, diataunc such
<br />sums sad take tuClt action as is uecessary• to protect Lender's interest, including, but not limned to, distaurscntent of
<br />reasonable attorney's foes attd entry upon the Property to make repairs. {t !.ender require.? mortgage insurance a; .+
<br />~mditiozt of making ins Loan secured by ibis Mortgage, Borrower shall pa} the premiums required to ;nainta+n such
<br />imutance in eAeet until such Lyme as the royuirctnent for suyh insurance terminates m accordance wish Burrk•wsr'. ;+nsl
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