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l~xitu:;~f C'u~1•~~vlv. H~~rruti~a•~ an~t I cm.!.r ~u~~~n:~nl :~ml :,;:~~r :u (~~Il.~~~~:
1. t'a}ment uf Priucipul and lutrrr~t. liur~r~vrr .~~:sll pr~~:u~ul}~ p:~}' ~~hrn Q~ir ihr ~rin:i~~.~l of ar.J int~rrtt on thc
~c:.!.'.••~•dnrsc c~•i~lrr.c~.3 h}' thc N.~tc, p[rpayn~~ut :~n~t I~tc ch:~rt:~. ;t. pru~•i~ic.i in thr \.i;c. : n~i N~~ ~+tin::it~ai of und intrrect
~~n :.i;: t~utus~ A~h•-~n:c, ~.cu[~.! hy th~: ~1ort~:~ge. .
2. l~'uud: for TaYrs und In~ur~ucr. Sul~j«t lo appli~,+blc 1.~~~ ur ti~ a~~ritlcn wai~•cr by !_cndrr. li~r~uw~r shall pay
t.• 1 rr.clrr on tha: ~1.~~~ maiithl)' mstallmcnts of principal and ~ntrre.t :~rr ~~apahtc undcr thc Notc, unlil thc \otc is pai~l in (ull,
:t n fhcrci~ "Fu~z.!s") cq?~:~) tu a~ic-t«~~Iflli of Ihc }~rarly' t:i~r. an.l a~.~~,mcnth ~~hich may attain priority over thil ,
\1.~:~L:~,r, and groun:! rrnts on thc Yn?pcrt~~, if an)', plu. one-t~.~if~h of y~;,rly prcmium inst~llm~nts fur hazard imur.+ncc,
pfu,.~:~~-t~~cl[th of ~~~:uiy prcmium ir,~tillm~nts [or mortgagc imur.~ncc, il al1 as r~:a:on:~bl}• estimatcd iniliati~• and from
tir...• to timr b~• Lcndcr on thc basic of a~.cscmcnts aud hills and rea~on:~hlr estimaics thcreof.
~f h~ f=unds shall he held in ,m inctitution the depu~its or ar~.~unt. of ~~•hich a~c insure:l or guaraat~ed b} a Federal or
st.::.: ~~enc)' (inc!u~ing I_end~r if I_end~r is ~uch an institutiun). I.endrr ~hall apply the I=unds to p:~y said t;t~rs~ assessments,
im~:raa:e premiums :mc! ground rents. l.ender ma~• n~~t chargr for ~o hnldin5 and apply'ing the Fund~, a~~al~zing said account,
or ~~rrif~~ing and u~mrilino said assessments and hills, unlr.s Lender p.~y: Borrowcr interest u~ thc l~undc and ap~licable law
prrrm!s 1_;nder to makc such a chargc. Itorrowcr and Lcn.t~r nia~ :~,rce in writing :it th~; timc of caecutio~~ of this
~1c~rt,,.:ge that interr:t on the Fu~~ds shalt tn: pai:1 tu E3orruH•cr, and unl~~s such ag~ecment is mad~ or applicable law'
r~yu~rc. such inicrrs~ to be paid, l.en~e~ sh:~ll m~t h~ requircd to r: liorrow•er :tn~• intcrest or earnings on the Funds. I.endcr
shall gi~'e to Borrower, ~~•ithout charge, an annual accounting of 1he Fw~Js sho~ving creclits and debits to the Funds and the
pur~~:~ for «•hich each debit to the Funds ~~•ai n~adL. Tne Funds arr pleJg~d as additional security for thc sums secured
b}' th~. \tortgage.
lf ine amount of the Funds hcld by Lcnder, t~gether ~~•ith th~ :uture monthl~~ inst~llmesih of Funds pa}•abte prior to
the due dates of taxes, assessments, insurance premiunu :lnd ground rents, shall excerd the amount required to pa}• said taxes.
as~~i~ments, insurance premiums and ground rents as th~y fall due, such esccss shall be, at Borro«~er s option. either
promptl~~ repaid to Borrower or credited to Borrower on monthly installments of runds. If lhe amount of the Funds
held by Lender shall not be sufficient to pay taxes. assessments, insur:,ncc premiums and ground rents as the~- fall duc.
Qorrow~er shall pay to Lender any amount necessar~~ to makc up the deficiency within 30 days from the date notice is maited
bk I_~nder to Borrower requesting payment thercof. ,
U~on payment in full of all sums secured by this I~tortgagc, l.ender shall promptly refund to Borrow~er any Funds ~
held by I~nder. If under paragraph 13 hereof the Property is ~old or the Property is othenvice acquired by Lender, I.ender ~
shail apply, no later than immediateiy prior to the sale of the Propert~• or its acquisition by Lcnder. any Funds h~id by
Lend~r at the time of application as a credit against the sums secured b~• this ;~tortgage.
3. Application of P~yments. Unless applicable law pro~•ides other~~~ise, all payments received b} Lender unJer the
l~o:e aiid paragraphs 1 and 2 hercof shall be applied b~~ I_ender first in pa~~ment of amounts payable to Lcnder by Borro~er
und~r paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
principal on any Future Advances.
4. Charges; Liens. Borrower shall pay .all taxe~, asscssments and other char~es, fine; and impositions attributab]e to `
the Pruperty which may attain a priority over this Mortgage, and leaseholcl payments or ground rents. if any, in the manner '
pro~ideJ undrr paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due, directly to the
pay~ee thereof. Borrower shall promptly furnish to 1_ender al{ noticcs of,amounts duc under this paragraph, and in the event ~
l3orro:~'er shall make payment directly, Borrow~er shall promptly furnish to I_ender rcceipts evidencing such pa~menls.
Borrouer shall promptly discharge any lien w•hich has priority o~•er this 1~4urtgage; provided, that Borrower shall not be
required to discharge any such lien so tong as Borrower shall agree in ~~riting to the payment of the obligation secured by ;
such lien in a nanner acceptable to Lender, or shall ir~ gooei faith contest such lien by, or defend enforcement of such lien in~ ~
legal proceedings which operate to prevent the enforcement of the lien or forfeiturc of the Property or any part thereof.
S. Hazard Insurance. Botrower shall keep the improvements no« existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
such coverage exceed that amount of coverage required to pay the s~ims secured by this riortgage.
, The insurance carrier providing the insurance shall be chu~en by Borro~ser subject to approval by Lender; provided,
~ that such approval shall not be unreasonably wiihheld. All premiums on insurance policies shall be paid in the manner
proyided under paragraph 2 hereof or, if not paid in sach manner, by Borrou•er mai:ing payment, when due, directly to the
insurance cartier.
~ All insurance policies and renewals thereof shall t~ in form acceptable to Lender and shall include a standard mortgage
clause in favor of and in form acceptable to Lender. Lender sh~ll have the right to hold ihe policies and rene~vals thereof.
~ and Borrower sh:~ll promptly furnish to Lender atl rerewat notices and ali receipts of paid premiums. In the event of loss.
~E Borrouer shall give prompt notice to the insurance carrier and l.ender. Lender may make proof of loss if not made promptly
! b}• Borrower.
~ Unless Lender and Borrower otherK~isc agree in «-riting, insurance proceeds shall be applied to restorati~n or repair of
the Property damaged. provided such restoration or repair is economically feasible and the security of this 111ortgage is
not thereby impaired. If such re~toration or repair is not economically feasihle or if the security of this 1~lortgage would
he impaered, the insurance proceeds shall be applied to the sums secure~l by~ this hiortgage, ~+~ith the excess. if any. paid
to Borrower. If the Property is abandoned by Borr..wer, or if BorroH•er fails to resp:~nd to Lencler within 30 days from the
date notice is mailed by Lender to Borrowcr that the insurance carrier of~ets to settle a claim for irsurance benefits, Lender
is cu;hc~rized to coliect and apply the insurance proc.zeds at I_ender's option either to restoration or repair of the Property
or to the sums secured by this Mortgage.
L'nless Lender and Borrower othervvise agree in writing, any si:ch applicatio~ of p~oceeds to principal shall not eatend
or p~stpone the du~ date of the monthly installments referrcd tu in paragraphs 1 and 2 hereof or chanre thc amount ~of _
su.h installments. If under paragraph I8 hereof the Propzrty is acyuired by Lendcr, all right, tide and interest of Borrower =
in ~nd to any insurance policies and in and to the proceeds thereof rr.ulting from damage to the Pcuperty prior to the sale
or ccqui~ition shall pass to Lender to the e~tent of the sums secured by this \fortgage immediaiely prior to such sale or
3CqlIlS4llOi1.
6. Presenation and ~laintenance of Property; I.ease6oids; Condominium~; Flanned Unit Uevelopments. Berrow~r
shai; keep t e Propeny in good repair and shalf nc?t commit ~i•aste or }k:rmit i:npai~ment or deteriora,ion of the Property
and si::,!! comply «ith the provisions of any leasc if this ;1lortg:ige is on a fesschold_ If this Mortbage is on a unit in a
= cun.lominium or a planned unit de~~clopment, Borrow•er shall perform all of Borrower's obligations under the dc;clar~tion
~ or covenants creating or governing the condominium or planned unit dc:~~elopment, the bS-lawc and regulations of the
~ coci.lor.iinium or planned unit development, and constituent da-urr:•=nts. It a con~lominium or planned unit d~~•clopment
~ rider is esecutrd by Borrower and recorded together ~~ith this I~tortgage, the covenanis and agreements of such rider
~ shalt be incorporated into and shall amend and s~ppiement the covenaots and agreements of Ihis I~4urtgage as if the rider
~ wcrc a part hereof.
~ 7. Protection of i.ende~'s Srcurity. if Borrow•er failc to perf~~rm the covenanic and agreements contained in this
~ Alortg:,gc, or if any action or proceeding is commenced which m~terially afTects I.ender's interest in the Prop~:rt~•.
~ including, but not limited to, emir~ent domain, insolvency, code enforcement, or arrangements or proeeedings involving a
bsnkn~p: or d~cedent, then l.ender at Lender's ophon, u~n notice to I3orrower, may make such appearances, disburse ~ucfi
~ su:r:~ aud take such action as is necessary t~ protect Lender's interest, induehng, but not limited to, disbursement of
rea;~nablc attomey's fees and entry upt~n thc Yropcrty to mske rcpairs_ If Lender rcquired mortgage insurance ac a
~ rna:.'i:ion uf m:il:ing the loan secured by this Atortgage, Borro.rer shall pay the premiums requireJ to maintain such
instirance in effect until such time as the requi:ement for such insurance terr+iinates in accordance w•ith Borrowers and
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