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insured or guarnnteecl by a Falernl o~• st~tc a?gene}• linclu~liu~; 1.~•n~ler if Lcn~lcr i~ ~ucl~ an institutionl. I.ender
shall apply the Funds to ~~ay sui~i tnxes, u~sc_~.tn~ent., in.uruni•~• ~~mwiuu~s an~i Rrou~?~i ~Y•nt~. I.cnder sl?nll ~nake no
charge forso holdinR and applying thc Funds or ~•~~riivink :u~~l ~•uu~pilin~ ~:~id usses.mcut. und bills. Borrower and
l.ender may :~gree in writinR at thc time ~~f cxc:~ution of thi~ ~lortRaRe tlu~t int~mst ~~n thc Furn1s shall 1M pxid to
13orrow•er, aud unlecs sucl~ a~recment i~ madc, Lendcr ~hall uot IM n-~quin~l to ~~a}• Borro«•cr an~~ intcm5t on thc~
Funds. I.ender ~hnll ~i~•e to Borro~~~er, ~~•ithout ch:~r~e, nn tnu~unl ~ecoi~nting of tt~e Fun~ls sho~~~in~ creciits nnd
debits to tl~e Funds and the ~~i~ry~ose for w~hicL cacL ilehit to the Funds ~tias n~t?de. 'I'he Fimds are ~~ledRcci as nddi-
tional security for the sums secureci by this \iort~:?~e.
If the amount of t:he Fund~+ held I:endcr, to~ether ~vith tlie fut~n•e uionthl~• insti~llmeuts of Funds payablc
prior to the ~iue dntes oi taxes, ~tases.sments, insurance premiuu~. und ~round mnts, ~hall excec~ci thc amount re-
quired to pav st?id t~uccs, ussessn~ents, insur~ncc ~~remiums un~1 ~row~d rents :?s tl~ey fAl) due, such excess shall he.
~t Rorrower's opiion, cither proroptl~ ~~epaid to i3ormn•er or ereciitcd to Borro~~•er on monthly instnllments of
Funds. If the amount of the Funds held b~~ I.ender shall not hc wfficient to pay tuxes, a~.,essntepts, insurnnce pre-
~uiums and ground ~~ents ,~s thev fall ~1uc, Aorro~~cr shull to I.ender nny ~?~i~ount necessnry to m~ke up the
deficiency within thirty days attcr noticc from I.ender to Borro~vcr requcstin~ ~?;~vment thereof.
IIpon payment in full of nll sum~ secured t>~• this ~tort~a~c, I.en~icr shnll prom~~th~ refund to Borrower ~n}
Ftinds held by T.ender.
If under paragraph 18 hemof thc Propertv is sol~i or thc 1'ropcrt~• i~ othenvise acquirecl hv i.ender, i.ender
shall apply, no later tl~n~i imn~ediately ~?rior to the ~alc of tl?c Propert~• or its a~quiGition h~~ I.ender, t?n~ Funds
held by Lender at the time of application as a ~redit a~uiust the ~inu• ~ecwr~l b~• thi~ ~{0I't~;A~C.
3. Application of Payments. Unlec~ ap~~lirnUl~ In~~• ~~rovide~ othen~•i~c, ;ill ~r.~~m~ent~ mcci~•al by I.ender ~
uuder the l~ote and parngraphs 1 and 2 hercof ~l~ull bc ap~?lie~l 1» Lcn~tcr fii~t in ~?~~•ment of an~ount~ ~.nvable to
I.ender by Borm~ver i~nder ~~ar~grnph 2!?crcof, then to intc~rst ~?:~~•tible on tlic \ote :uul on F~rtun~ :1~lvnuces, if
any, ~nd then to the ~~rincipal of the Note ~n~l to tl?c ~~rin~i~~al of Fukum Ad~•ances, it 9ny.
Charges; Liens. Borrower chnll pa}~ nll taxe~. acse~sroents us:.l othcr ~hAr~es, fines ;~~~~1 impositions attrib-
utable to thc Property which may attnin a priority over thi~ \tort~a~c, an~1 grouml rcnts, if ~tnv, at• I.ender's
option irr the roanner ~?ro~~idect under pnragra~ih 2 hereot or b~• Rorro~~•cr mnkin~; ~ia~ ment, when due, directly to
khe pnyee themof. Borm«•cr ~hall prom~ith• fi~rnisi~ lo I.endcr all notices of .imount~ ~luc under this paragraph,
a~nd in tl~e c~~ent Borro~~cr sh:~ll make pn~ment directl~-; Rorro~~•cr shail lirompth• furnish to I.ender receipts evi-
dencing sucli p~yments. Rorro«•er shAll ~~romptly dischargc au~• licn ~.•hich has ~~riorit.v o~•er this \Iortqa~e: pro-
videcl, that Rorrower shall not be requirecl to discl~ar~e an~• ~~ici~ lien ~o long as I3orm~~er ~hall ~grce in ~vriting to
the payment of the obligation secureci U~~ sttcli lien iu a~ ~nann~r accept:?hle to i.emler, or shall in ~oai fnith contest
such lien by, or defend enforcen~ent of si~ch lieu in, legzl ~n•ocec~iing~ ~~~1?icl~ o~~ernte to ~~re~•ent the enforcement of
the lien or fot[citurc of thc Vropert.~ or any part thereof.
5. Hazard Iasurcmce. Rorro~cer sl?t?11 kee~? the impro~•e~nent~ uo~~~ ~rxistin~ ~n• I~em:~fter erec±cYi on the Prop-
crt~• insured against loss hy fire, Lnzards included ~vithin the term "extended coverage", an~i such otlicr hazards ns
l.ender mny require aud in ~ucl~ a~nounts nnd ior si~ch ~?crial~ .i~ L~~n~ier n~a~• require: pro~>idMl. thnt 1.ender shall
not require th:~t. the zmount. of such co~•crnge cxcee~l ti~at amount oi ~o~•erage required to pay the sums secureci by
t.his \Iortgagc.
The insurance carrier ~~mviding tlic ins~n•3nce shall h~ chosen hy Borm~ver ~ubject. to approval b~ I.ender;
En•ovide~l, that such approval sl~all not bc unrcasonablt ~vithhcid. ?111 premiums on insumnce ~wiicic~ shal! Ue paid
at I.ender's option in thc n~auner ~?rn~•ide~l widcr ~?arag~:~~~h 2 hemaf or Ly Borro~rer making payment. ~vhen due,
~iirectly to the insurnnce carrier.
All insurance policies xnci rc•ne~~-:~1~ tlicreof ~L:ill he in fonu a~~•~q~t:thle to I.en~ler an~i ~hall in~lu~le ~tandard
~uort~age ~•lause in fnvor of .ind iu form acce~~t~hl~ to I.cmic~r. I.en~ier ~hall iui~•c tLc• ri~ht to hold the ~~olicies and
renewals thcreof, and Borro~~~er ~li:ill ~rro~npth- furni~l? to Len~l~r all rene~~~al notire~ and all recei~its of paid pre-
; iniums. In the c~~enf of los.~, I3orro~~cr ~l~all gi~~e ~?rom~~t noti~•e to tl~c insi~rAU~e carricr an~l I.endcr, ancl I.ender
; ~nay n~ake ~iroof of lo~s if not ~nt?de promptly b~~ Borro~~er.
~ Unless ~.ender c~nd Borrm~-er otherc~•ise agme in ~critinR. in~tu:u~ce ~n•o~~ee~l. ~hall be :i~~~~lied to re~toration or
t repair of iLe Yro~~ert}• ~inwaged. ~~ro~-i~i~~~! ~ucli restor.~tio~~ ur re~~air i~ c~onou~i~•alh• fea~ihle un~l the ~ecurit~~ of
t this \tortguge is not thereb~• in~paired. If ~uch rector;~tion or re~~air i~ not economicalh feasible a• if the security
~ of this \Iortgage ~~•oul~l hc iroP3irecl. th~ im~u•ancc ~~ro~ec~l~ ~h:tli hc• a~?~~lied to the~ ;u~ns sccurccl b}• tl~i~ \Iortgage.
~~~ith the excess, if any, paid to Aorro~~•cr. If the Yro~~ert~• i~ al~an~lone~l h~• Borro~~~cr or if Borro~~cr fails to respond
~ to T.ender n•ithin 30 ~lav~ after notice ht• Le~nder to Rorro~cc~r tl~at th~ it~~w•:~ncc carrier ot~'cn to settle a claim for
~ insurance I~enefit,. I.en~ier i: autl~orize~l to collect c?n~l :t~>~~h• tlu~ insur:uire ~~rocecci~ at I.ender~ o~ition either to
restor:~tion or repair of the Property or to thc su~n. sec~u•ed b~• thi~ \tortgagc.
~ Unless 1,ender anc! Aorm~~•er other~~•isc ugrec. in ~~•ritin~, .im• ~uci~ application of ~~roceecls to principal shall
~ not extend or ~~ostpouc the duc datc oi tl~c monthl~• in~talin~~nt~ ?•cfcrr~~l to in para~ra~~h~ l and 2 liereof or changc -
~ the amount of such installment~.
If under ~~aragraph 18 hereo[ the 1'ro~?ert~• i~ acquired h~- I.cu~ier. al) riQl~t. title anrl interest of Borro«•er in
~ .inci to unt• insur.~nce poticies :~n~l in an~! to the ~?m~ee~l~ th~rcof ~t~~ th~• extent of tlie ~un~: ~ec~~rc~l h~ this \iott-
~ ~age immediatel~ ~irior to ~i~ch ~:11~~ or :icqui~ition? re:ulfiu~: froiu ~I:uu3ee to th~• i'ro~?ert.~• prior to the ~ale or
~ acquisition shall pac~ to I.ender.
~ 6. Preservation and Maintenance o! Properiy; Leaseholds; Condominiums. Rorro~cer ~L~ill kce~~ the Yro~~-
~ crty in ~;oe~ rep~tir :u:d shall not ~~ennit or coiun?it ~~~;?ste, in~~?:iimient, or ileterioratio» of tl~c Propert}• and shall
~ ~•omply ~~•ith the ~~ro~•isions of an~• lea~e, if thi< \tort~agc i< ~?n c~ Ieasehobl. If this \fortgage is on a condominium
unit, Rorm~eer ~hal1 ~~erfor?n all of Borro~~~cr:~ ahli~ation~ ~nz~lc~r the ~lc~l:?rntian oi ~on~lominiun~ or master deecl,
the hy-latvs an~l re~;ulntion~ of thc• con~lon~inium ~?roi~~ct ~uui ~on:tituent ~lo~u~nent~.
~j 7. Protection oI Lendei s Security. If Borro~ser iail~ t~~ ~~erform thc co~~enaut~ :uul :~~;rcements containeci in
this ~iortgage, or if an~• aetion or ~~roceccling i~ con~mencect ~~•hich inaterialh• affect~ Le~~der'~ interest in the Prop- ~
erty, inch~ding. hut. not. limitc~l to, c~ninent dou~ain, in~ol~•em•~•, c•a1~• ~•nforcement, or :srraneements or proceed- ~
~ ings in~oh•ing u 1?ankrupt or ~lecc~clent, then Lender :~t I.~nd~~r~~ o~~tion. u~~on notice to 13orro«er, mav ~nake such i
~ :~~~pearances. disl,urse sucl~ ~ums :tn~l take ~u~L a~•tion :i~ i~ necc~sai~• to ~~rotect 1.cnder'~ interest. including. but 1
~ not limite~i to, disbur~ement of reasonable attorn~~~'~ fee< sn~l cntr}• upon the }'ro~~erty to iuakc repairs. Any ~
~ amounts disburseci hy 1.ender ~~u~uaut to thi~ ~r?ragra~~h 7, «•itl~ intcrc~t tlicreon, ~hall I~ecome ad~litional indebt-
~ edness of Borro«~cr ~ecured I?}• this ~(ortga?~;e. ZFnle~s Rorro~ccr an~i I.en~ler agrce to othcr terni~ of payment, such
~ amounts shall be payable upon notice from t.ender to I3orrot~•er re~uc~tiii~ pa~ ment thereot, ancl sha11 bear inter-
~ est• from thc ~inte of ~lisburement at thc rate ~tatc~l in tlie \ote uulc~~ ~ra}•ment ot interest at sucl~ rate ~vould be
contrary to applicable la~c, in a•hich e~•ent such amount~ ~l~all Ircar intere~t at thc highest rate ~~ermissible by
~ applicable law. Notl~ing containc~i in thi~ ~~ar.:~ra~~L i~h.~ll m~~uire T,~nder to incur an}• ex~~ense or do an,y act
~ hereunder. '
~ ~ooK235 o,1CE204? }
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