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UN~Faat?t Covth.~~vrs. Borcower and Lender ~uve~eun~ and agree as follows:
1. R~ymeat uf Priaclp~l aad Interest. Horruwer ~h:+ll promptly pay Nhcn due thc principal uf and i~trr~st on the
inJebtedness evidence.l by the Note, prepayment and late charbr. a~ p~oviJed in the Note, :+nd the principal of and interest
on any Fuwre Advances secureci by this Martgage.
2. Fnnds for TaYes and lnsunnce. Subject tu applicabie law or to a written waiver by I_ender, Borrower shall pay
to l.ende~ on the day monthty inctallments o! principa! a~d intcrc~t arc pa~ablc under the Notc, until the Note is paid in fuil,
a aum (herein ''Funda") equal to one-twelfth ot thc yearly taxes and asussments which may attai~ prioriry avcr this
Mortgage, anJ ground rents on the Property, if any, plus one-twclith af ycarly prcmium inctallments for hazard insurance.
plus one-twel[th of ycarly premium installmcnts far mortgagc insurance, if any, all as reasonably estimatcd ;nitiaUy and hom
time to time by Lertde~ on the hasis of a~sessmcros and biUs and reasonable estimates thereof.
The Funds shall be held in an institution the depc~sits ~,r acc~~unts of which, are insured or guaranleecl hy a Federal or
state agency (including Lendtr if Lender is ~uch an institution). I.ender shall apply the Funds to pay said taxes, assessments.
insurance premiums and ground ~nts. I.ender may not cha~ge for sc~ holding a~d applying the FunJs, anal~•zing said accouM,
or vtrifying and compiling said asses~ments and hills, unless 1_cnder p:+ys Borrawer ioterest ~~n the Funds a~d applicable law
permits LenJer to make such a charge. Borrower and l.ender may agrce in wnting at ~he time of exez ution of this
Martgage that interest on the FunJs shall he paiJ tv Born~wcr, anJ unlcss such agreement is made or aP~licable law
requires such interest to be paid, t.eode~ shal) not be reyuircti! ta pay $orrower any imerest or carnings un thc Funds. l.ender
~hall give to Borrower, without charge, an annual acrounting of the FunJs showing creclits anJ debits to the Funds and the
purpose lor which eaeh debit ta the Funds was m:ule. The Fund~ a~e pledged as add~tional security for the ~ums s~;ured
by this Mortgage.
If the amount of the Funds held by !_ender, togc~hcr u•ith ~he future monthty imtallments of Funds payable prior to "
thc due dates of taxes, asscssment~, insurance premiums and g~aund rents, shall e~cced the amount reyuired to pay said taxes,
assessments, insurance premiums and graund rents as th~y f:~ll due, such excess shall be, at Borrav?~er's option, either
promptly repaid to Borrower or credited to Borrower on monthly inst•rllments of Funds. I! the amount of ~he Funds
held by Lcoder shal! not be sut~cient to pay ta~?css, assessmcnts, in~urancr prer.~iums and graund rents as thcy fall due,
Borrow~er shall pay to Lende~ an~ amount necessart• to ma1:e up the dcfiriency within 30 days from the date nntire is mailed
by Lcnder to Borrower requesting payn~em thcrcot.
Upon payment in full uf all sums secured by this Martgage, I.endcr. shall proinptly telunJ to Borrow•er ar.~• Funds
held by l.cn~cr. !f under paragraph 1R hereof ~he Property i~ s~•ld or thc Propcrty is otherwise acquircd by l.ender, l.ender
shall apply, no latcr than immcdiatcl~• prior to thc salc of thc Propcrty or its acyuisition hp Lcndcr, any ~unds held l~y
lenJrr at the time of sppliration as a crcdit against ihe sums secured by this \lortgage.
i_ Anplication of Payments. Unlets appiicable law' provides otherwitie, all payments received by I_ender under the
tiote ;~nd parag~aph~ ~ and 2 here~~! shall tx~ appbrd by Lender hrst m payment oi amuunis p~~.,i~ic t:~ i_.:r~:;:•,~ u::::v:,c~
under paragraph hereof, then tu interest payable on the I`ote, th~n t„ the principal of the Note, c~nd ~hen tu intcrest and
principat ..n any Futurc Advanccs.
a. Char~es; Lkns. Born.~rer ,h:+ll pay all tasc~, a.xss~icnts and ~~th~r ch:~rte.. fines a~~~i im~x~~etions an~ibutable to
the Property K~hich may attain a priority ovrr this 1~lortgage, and leasehold payments or ground rcntt, if anp, in the manner
provid~d undcr ~~ar~graph 2 hcr~•of or. if not paid in such manner. b}• Bormw•cr making paymcn~. ahcn duc, directl~~ to the
payee th~reof. BorroK•cr shall promptly furn~sh to Lendcr all noticcs of amounts due under this paragr~ph, and in the cvent
E3orrow~er shall makc pa~ment dir~-~th, Burrow~er ~halt prompd}' furn~sh to Lcnder rc.:eipts evidenc~ng.such paymcnts.
Borro~er shaU ptompN~• ~ischatgr any lien ~vhich has priority o~~r this ~turtg:~ge: provided. that Bormw~:r shall not be
~ required t~~ diuharge ;,ny ~uch li~n so long as Borrower shall :~grce in ~~riting to the payment of thc obhg•rtion sccured by ~
such lien in a manner acceptable to l.cnder, ~r shall in gcwd faith contca such lien by, or Jef~nJ enforrement of s«ch lieri iA,
leg~l pn~crding. which opcra~c to prevcnt thc enfarccmcnt of thc I~en or forfe~ture of 1hc.P~operty ~:+ny.part ihf~eof.
5. Hazard Intiurance. H~~rroaer shaN ke.~:p the empro~emcntti n~~u e~nting or her~after rrected on the Pr~•~xrt~~ msurcd
.,gainst lc.., hy fire, haiarJ~ inrluded with~n the term "~~tcs~dcd cuvrrag~", and such .uhcr hazard~ a~ 1-endcr ma~• reywre
ani! in such am~.um, an~l for ,urh pcricxlt a. Lrndcr may rcyuir~: pn.~idc~. that LcnJcr ~hall not rcyu~rc that thc amaunt of
~uch co~erage erreed that amuunt u( co~~erage reyu~red to p.~~ thc •~~mti .ecurrd hr thi. ;1lortg:?ge.
Thc insuranre ~arrcer providing thc insuranre shall be ch~~xn hy Borrowcr subjcct to appro~•al M• Lcnder: provided.
that such approval ~hall not be unre:,sonablp withheld. All premiume on insurance policies shall i~e paid in the manner
prov~dcd un~~r paragraph 2 hereof ur. if not paid in such manner, by BorroNer making payment, when duc. ~lirectly to the
~nsurancc .arncr.
Alt insurance p~~licie. and reneHa~s therenf shaU l~r in form acceptable to Len.ier ~nil shall ~ncludc a~t:~nd~rd morigage
clause in favor o( and in form ~cr~ptaMe ~u Lcnder. l.cnder .hall have the right tu hold thr p.~li~irs .~nd renewal~ thereof.
:~nd Borr~~~er ihall prumptl~• ftirnish to Lender all renewal natices and all rcceipts of paid premium~. 1n the c~ent of loss,-
Borrower sh:~ll give prrmpi notice to ~he insur:~nre carner anJ I_ender. 1_ender ma~ make pra~t of loss it not made pr.•mpth~
b~~ Bormw~er.
llnless LenJcr anJ Borrower otherv?i.c agrec in writmg. insuranre pr~ccdc shall be applied to re~toration or rcpair of
the Property Jam.,geJ, pru~~iJed wch re~tora~ion ur repair is economically fcasibic and the ~ecurity of this Mortgage is
not thereby impaired. ti such res:oration or rep~rr is not cconomi~.~!!~~ feasihle or if the security of this \lortgage w•ould
be empaered, the insurance prixeeds shail be .~pp;ir~ to thc sums secured b}~ this Mortgage. with the excess, if any, paid
to Borrowcr. If thc Propert~~ ic .ihanJn~ted h} Borr~~wer. or if Borr~w•er [ails t~~ res~nd to Lender within 30 days from the
date notice i~ ma~led b}° Lender to &~rmwer ~hat the insurance carrier Nfer~ ~o seule a claim for insuranee benefits, !_ender
aut6orized to coflect and apply the insurance proceeds :~t l.ender's option either to restoration or repa~r ot the Praperty
Of IO IFtC SW37S ICCUfC~J h~' lhlj ~iortgagc. ~ ~
Unlest Lcndcr a~id liurrowcr othen+isc agrrc ~n Htii~~~g. ~ii} ~~icn ::~~;Z~.:i:iiliS i=! p:~~~~e~s te ~:~~,a~+a! .h:;t! nnt extend
ur postpone the ciuc date of thc ~zonthly installmcnts rrferred tc~ in paragraphti i anel 3 hereof or changc the amounl of
su:h imtaltments. If under paragraph !8 hereo( thc ProEx:rh is acyuired h} l.endcr. all righ?, title and interest of Borrow•er
in and ~o am~ ~~i,urance policies and in and to the proceecis thereot resulting irom dam•rge to the Property prior to the sale
or acyuisition ahall pass to Lender to thc e~tent of the sums ~ecurcJ h~ thi~ ~lortgagc immc-~iiately prior to such sale or
acquisition.
6. Presenation and ~(aintenance of Propert~; Leaseholds; Conduminiums; Planned l:nit Ue~~elopmrnts. Borrow~cr
shal! keep thc Property in good repair and shall not commit waste or permit impairment or deterioratio~ of the Property
:?nd shall ~amply w•ith the provisions of any lease if this Mortgagc is un a Icrsehold. If this ~tortgage is on a unit in a
conJominium or a planncd unit Jevelopmcnt, Borrower shall perform ail o( Borroaer's ohl~g-rtions under the declaration
ur co~~cnants creating or governing the condominium or planned unit development. thc by-laws and regulations of the
con~~vmi~~ium or planned unit development. and cunstituent documems. If a conJ~minium or planned unit Jevelopment
ri~er i~ rxecuted by Borrower and recorded together wuh this Mortgage, the covenants and agreements ot such rider
shall be ~ncorporated into and shall amcnd anJ supplement the co~enants and agreements vf th~s Mortgagc as if the rider
wcrc a part hereof. ~
7. Proteclioo oi Lenders Security~. If B~~rrow~er failti to perfnrm the covenants and agreements contained in this
Mortgage. or if any act~~~n or pro~eeding ~c commenecd which materially afiects l.ender's interest in the Propert~•.
~ncludinb, but nut Gmited to, eminent domain, in~ol~enc}, code enforcement. or arrangements or proceedings invol~~iog a
bank~ipt or decedent, then Lender at Lender's optian, upon ootiee to Borrower, n~a~ make such appearances, disburse such
sums and take such action :,s is neces~ary • to prntect Lender's ~nterest. including. but not limited to, d~sbursement of
reasonable attomey'c t~es and entry_ upon the Property~ to make rcpair.. lf I.ender reyuired mortgage insurance as a
condrt~~~n of making thr loan c~:tured b~ this !~lortgage, Borrouer shall pay the premiums required to mainia~n such
insurance in effect until such time as the reyuiren:en~ ior .arh ensurance terminates in accordan~e w~th Borruwer's and
OR
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