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UH~atM CavEH~Hrs. Borrawu a»d LenJer cavenan~ and ag~rt as tollaws: •
I• ~eN o[ l~Mcipl' aN lye~est. i3cxrvwer shall prompily pay whcn due the prinripal af and interest oo the
~~ckbtedness evidenood by the Note, prcpayme~t and late chargec ax p~avi~kd in the Note, and the p~incipal of and +nte~
o~ any Futut+e Advances s~ecured by thia Mortgage.
Z. ~ tor Tases awi lwrree. Subject so applicablt law• or Io a written waive~ by l.enckr, BoROVrer sh~ll pay
to Ltndcr on the dsy mo~thly itutaliments of principal and intc~est arc ~yable undcr the Note, uatil thc Nate is pxid in futi.
a sum (here~o "Rw~cb°) equal to ooc-twel(th ot the yca~ty taxcs and ;~ssessments which may attain pn~~rity over this ~
Mort~age• and 6~ound tents ot~ the Q'nnperty, if any, plus cma~weU~h of yearty premium instaNments far hazard e~nurance,
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plus oae~twelEth of ya~rly pr+emium iastallme~ts [or mcNtgago insurancr, iI any, aU as reasonably tstimated initially and fmm •
~ and hills and reax~nablc estimatcs thcreo(, ;
7Ue Funds sl~all be beld in an institution the depasits or accounts o wnicT"i'a~~'119laredTr-ava ' f
state agencY (including I.e~cfer if Lender is such an inttitution i. t_ender shaN apply. the Funds to ~ay said tatirs, asxsune~ts. _
insuranoc prcmiums and grnund nnts. 1_ender map not cbsrge for sc? holding and ap~+lying ~fic F~undc, analyTing caid att~oun~
or verifying and compiling said assessmeats anJ bflh, unless Ixnder pays Bonower interest on the Funds an~ applica6k law
~permits Lender to make such a charge_ Borrower and [.ender may agree in writing at the tinNC of execution of thes `
Mortaage that i~tenst on thc Funds shall be paid to Bottower, and unless such agreement is made or applicabk law i
r~quires such interat to be paid. l..ender shall nM be rcquireci ta pay &xrower an~ interest or earnings an tt?e Funds. l.cnder
shall aive to $orror~cr, x~st~i rltargc, a~ annual arctwnting af the Funds stwwing cred~ts and elebits to the Funds and the
purpoae (or which eaeh debit to the Funeis was made. The Funds are pleciged as additional security for the sums xrurcd
by lhis Mortgagc. - ~ ,
' If the amount of the Fuads held by l.ender, togethcr wi~h the futur~ month~y installmcnts of Fundc }?~yabR pricx to
the due dates of taxes, assessmenu, i~uurance premiums aod ground rents, shall exceed ~he amount reyuired to pa~~ sa~d taxa,
as~ents, insuranoe premiums and ground rents as they taN due, such excess shali bc, at ~rrower s opuan, cither
pranptly repaid to Borrower or c[eciited to Bormwer on monthly installments of Funds. If the amount of thc Funds
held by Lender shall not be s~ient to pay taxes, assessments, insurancc premiums and gro~ind rents as they (all due.
gorrower shall pay to Lender any amount r~a~essa~~ to make up the deficiency withia 30 day~s from thc date notice is maikd
by Lender to Borrower reyuesiing payment therrof. .
Upon payment ia full of all sums se~:ured by .tAis Morlgage, l.cnder shall promptly retund to [ii~rruwer any Funds
held by Lend~er. If under paragraph 18 hereof the Propeny i, s.ild or the Propcr~y is otherwisc acquired by [.endtr, I~ender
~ s6at1 app[y. no later than immediately prior to the sale of the Property or i~s acquisition hy l.cnder, a~y Funds held b~
Ltader at the time of application as a credit against the sums secureil by this Mortgagc.
3. Applicatioa oI Pa~t~fs, Unless applicable lavr proviJes otherwise, all payments recei~~ed by Lender un.kr the
Note and paragrapt~s 1 and 2 hereof shall be applied by Lcndcr fi~st in payment o( amounts payabk to [.cnder by Borroxtr
under paragraph 2 hereof, then to inte~st payable oa the Note, then to the principal of the Note, and then to interat and -
principal on any Futurr A@vances. . ,
~ 4. C6arse~ Li~~, Borrpwer shall pay all tates, as~essments and olhcr charges, 6nes and im~~sitions attribu~abk to
t6e Property which may attain a priority over this Mortgage. and leasehold payments or ground rents, if any, in the manoer
ptuvided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, direcUy .o ihe
payee thc~eof. 8orrowc~ shall promptly farnish to Lender al! noticcs of amounts duc under this paragraph, and io the evsot _
• Bornower shall roaQe payment directly. Borrower shall promptly furnish to l.ender receipts evidencing such payments~
Borcower shall promptly d'acharge any lie~ which has priority over this Mortgage; ~+revided, that B~rrower shatl nat be
requircd to discharge any such lien so long as Borrower shall agree in a~riting to the paymeet of the obligation secured 6} ~
sucb lien in a manntr acceptable to Lender, or shall in good faith cont~-~t such lien by, or defend enforcement of such 1'ern ia,
legal proceedings which operate to prevent the enfon:ement of thc i~en or todeiturc o[ the Propeny o~ ~?y w„ ~t~ooc.
S. Nazard lasyrance. BorrowYr shaU keep the improvement~ now existing or hercafter erected on the Property inwred
against locs by fire, hazatds included within the term "extended coverage", and such other hazards as Lertder ma~ rcquire
and in such amoueu and for such periods as Lender may require; p~~vided, that LenJer shall not require that ttx amount c?f
such coverage exceed that amcwnt of coverage required to pay the sums secured by this Mortgage.
Tbe insurance carrier p~oviaing the insurance ahall be chosen by Borrower subject to approval by Lender, pr~vided,
t6at such approval shall not be unreasonably withhetd_ Ali prem+ums on insurance policies shall be paid in the man~
provided under paragraph 2 heseof or, if not paid in such manner, by Borrower making payment, when due, directly to the
insurance curier.
~AU insurance policies and renew•als theteof shall be in farm acceptable to LendeF and shail inciude a standard mortga~e
clause in favar of and in fonn acceptabte to [.ender. Lender shal! have lhe right to hold the policies and renewals therrnf,
and Borrower shall promptly furnish to Lender all r:newal notices and all receipts of paid premiums_ In the eveat of loss.
Borrower shall give prompt notice ta the insurance carrier and Lender. I_ender may make prrnf of loss it not made promptl~•
by Borrower.
Untest Lender and Borrow•er othen+•ise agree in writing; insurance proceeds shall be applied to restoration or repair of
the Property damaged, provi.ie.1 3uch mstoration or rePair is economically feasible and the security of this Mortgagt is
not thereby impairecl. If such restoration or repair is not economically feasible or if the security of this Mortgage vrcwtd
be impaired, the insurance proceeJs shal( be :+pplied to the sums secured by this Mortgage, with tht execss, if any, pa~d
to Borrower. I( thc Prapert~• is ahaexlone~l by Borrower, or i( Borrower fails to respond to~tender within 30 days f~om the
date notice is mailed by Lender to Borrower that the insurance carrier oiiers ta se~~le a claim for insurance b~oefia, L.~ixier
is authoriied to collect and apply ihe insuiance praxeds at Lender's option either to restoration or repair of the Pmperty
or to t6e sums secured by this Mortgagc.
Unless Lendtr and Borrower ~therwise agree in writing, any such application of proceeds 1o principal shall not e~tend
or postpone the due date of the monthly installments referred to in paragraphs I and 2 hercof or change the amount of
such installments. If under paragraph 18 hereof the Property is acyuirecl by [.ender, all rigfit, titte and interest of Borrovrcr
in aod to any insurance poticies and in and to the proceecfs thereof resulling from damage to the Property prior to the sak
or acquisition shall pass to Lender to the extent of the sums secureci by this Mortgage immediately prior to such sak or
arquisition.
6. Presenatioa sod Maintenance of Property; Leasehulds; Condominiums; Planned Unit DevdopmeaLs. Bc+rrowrr
shall keep the Property in good repair and shalt not comroit waste or permit impairment or deterioration of the Property
aad shafl camply with the provisioos of any leace if this Mortgage is on a Ieasehold_ If thic Mortgage is on a unit in a
condominium or a planned urtit developtnent, Borrower shall perform all of Borrower's obligations under the deciaratw.n
or covenants creating or gov~rning the condominium or planned uoit .development, ~he by-Iaws and regulations of the
eondominium or planaed unit cievelopment, and eonstituent uocumeRts. 1! a condominium or planrKd imit developrnent
rider is executed by Borrower and rccordecl t~~gether with this Morlgage, the covenanta and agreements of wch rider
shall be incorporated into and shall amend and supplement the covenants anJ agreements ot Ihis Mortgage u if tlK ridcr
were a part hercof.
7. Protectioo of Leade~'s Security. If Borrower fails ~a perform the cavenants and agreements containod in this
Mort_gage, or if any xtion or proceeding is commeneeJ which materially affects i_encler's interest. in the Prc?pe?t~,
including, but rat limitod to, eminent domain, insolvency, code enforcement, or arrangements or proceedings invdv~ng a
bantrupt or docedent, then Lendrr at Lender's option. upon notice to Bor~ower, may make such appearances, distwirse wch
sutns and take such actan u is necessary to proiect ixnder
s interest, including, but not limited to, disburxment of
reasonabk attomey's tees and entry upon the Property t~ make rcpairs. !F I~ndcr requircd mortgage insuruwe as a
condition of making the ban socurcd by this Mortgage. Borrower shall pay the premiums requiral to maintain such
inturan~e in efloct uotil such time as the requirement for such insurance terminates in accordance w~th Borr~ower
a and
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~ . BUOK 2Si7 FAGE ~O -
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