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UrtiFUR~t Co~~e~v~Nrs. Bo~rower anJ l.~nJcr cuvenani anJ agr~c a~ fofluws;
l. Payme~t of P~indpal aad IMeresi. HurruN~r shall prumpUy pay whrn ~luc thc prinrip~l of and intcrcu un thc
indebtedncu er~idenrrd hy the Nute, prepayment and I.~tc chargr~ a~ proviJed m the Note, and ~he principal of and inl~rest
o~ any Future Advancex ~ccurcJ by thic Mortgagr.
2. Rundc tor Taxes and lnsurance. Subject to applirable law~ or to a writ~en waiver by t.cnder, RORON'~f shall pay
to I_enJer on th~ Ja~• manthly inctallmcnts ~f prinripal and ~n~cre~t are payable u~dcr the Note, unlil the Notc is paid ir full.
a sum (herri~ "Funds") equat tn ane-tK~et[th eif the yrarly ~axe~ and asces~mentc Which may attain priority ove~ t~ i~
Mortgage, and ground rents on the Propcrty, if any, p~uc onc-tHClfth ~~f ~•carlp premium installmcnts for h~~ard insurancr,
plus onc-twclf~h of yearly prrmium installmrnts t~~r martgage insurancc, if any, all as rcax~nably cs?~mated initiall~• and from
time ta time hy l.ender on thc hasis of asu;ssmcnt. anJ bil(s anJ rca~onable cstimalcs thcrcof.
The Funds shall t?e held in an institutian ~he deFx~iits ~ir a.cuunts ot which are insurcd or guaranteeJ by a Fedcral or
s~ate agency !including Lender if Lrn~er is such an institutiunl. Lender shall applp the Funds ta pay s;tid taxcs, assc~sments,
insuranre premiums and ground rents. Lender may~ n~~t charge fur ~o hoWing and apph•ing thc F=unds, anal}•nng ~aid account,
ur verifying and compiling said asse~~mcn~s anJ hiils, u~lcss t.endcr ~y~ Borrawrr inter~~st cin thc Funds anJ applicable law
~rnliis l.endcr tu makc such a rhargc. B~rrowcr and Lrndcr may agrrc in writing at thc limc ut rxrcution o! this
\turtgage that intrre.t on Ihc ~un~1s ~hall tk paid ta BorroNrr, and unlcss wch agrecment is madc or applicable law
reyuires such interest to he paid, L~nJer ~hall not tx reyuire.l tu ~u~~ Bur~owe~ any interest ur earnin~~ on ~he Funds, t_cnder
ahall gi~~e to B~•rrower, without chargr, an annual acrount~ng uf the Fiirtda .howing credits and Jebits to the Funds and the
purpose for which cach Jebit w the f=unds was made. Thc I~unds urc plcdged a~ a~ditiunal security for thc sums secured
by this Alortgage.
If the amount of the Funds held b)• Lendcr, tugcther .~ith thr future munthly intitaltments of Fun~s pay:iblc prior to
the due datcs of ta~cs, asscssmcnts, insurance ~rc~i~iums and gmunJ rcnts. shall c~cccd thc amaunt rcyuircd to pa~• ~aid tares,
assessments, insurance premiums :~nd ground rentn as the~ iall Jue. ~urh excess shall br, at Borre~wer's option, either
prompth• repaid to Borrow•er or credited t<~ Bormw-er on monthl}~ installm~n~s iif Fundc. lf the amount of the Funds
held by 1_cndcr ~hall not be sufiicient to pay ta~rs, asusamcnts, imur:incc prct.tiums anJ gmund rents as thep lall due,
Borrowe~ shaN pa~• to Lender an}' amount nece~sar~ to makr up the Jrficienct• within 30 da~, f~om the date notice is mailed
by l.cader to &~rrowcr rcyucsting pa~~nirnt thereuf.
Upon p~~~ment in full of all sums secured by th~c Mortgagc, I.cnd~r shall ~.rompdy rehi~d to Borro~ver :my Funds
held by I.cn~cr. If under paragraph IR hereof ~t~c Proprrt}• is ~utd ~?r the Pmperty is athenvi~c acquired by l.cnder, 1_ender
shall apply. ,tv later than immcdiatrl~~ prior to the sale of thc Pro~xrt~ or its acyuisition b}• I.cnder, an}• Funds heW b~~
Le~der at the umc of application as a crcdit against the sum+ ~ecured hy this \tortgage.
3. Application of Paymeats. Unlr.s applirahle laH pm~i~cs other~~~i.r, all paymrnts received b~• Lender unJer the
Vvtr and paraKraph` 1 and 2 hcrcof shall bc applicd h~~ Lcndrr fir~t ~n p.i~~mcnt uf amuunts pa~•aMc tc~ t_cnJer hy Borrower
under paragraph ~ hereof, ~hen ta ~nterrtit r.ipahlc ~~n thr ;\utc, thcn to th~ principal ~~f Ihe Notr, an~l thcn t~~ interest .?nd
principaf un :~ny Futurc Advanccs.
4. Cha~es; i.iens. Bc~rr~~~~cr ~h.ill pay~ all ta~c~, atik.smrnts and ~~thrr rh:~rgt~, finc~ .~nd im~x~~iti.~m attnbutahle to
the Propi~n~• which may attain a pnorit}• ovcr this ~lortgagc, and fca~ch~~ld papmc~its or gruund rrntc, if anr, in the manner
pruvid~~ under paragraph 2 hereot or, if not paid rn surh mannrr. by Borrower m:iking pa)~ment. ~~hen duc, dircctly to the
~a~•ee thcreof. B~.rrower shall p:omptl~• furnish to t_ender alf nouces of amounts duc undcr this paragraph, and in the event
l3orr.~~~~er shall make pa}ment directl~, Horrowcr shall pmmptl~~ (urnnh tu Lendrr re.:~ip1s ~~id~ncing surh pa)~mentc.
Borr~wcr shall prompily Jisch:+rge an~• lien ~~hich has priorit~• uvcr ~hi~ lllortgage: pro~•i.irJ. that' 8orroA~er chall n~>t be
required to Jischarg~ at~~~ ,urh lien so long :~s Borrowcr shal! .igre~ in HriUng tc? thr pa}~~rn'nt of•the obl~gatiun sccurcd b~•
sueh lien i~i a nianner a~cr{~table to l.endcr, or shall in ~c•~~d faith cunt~~t such lien by, or .{efend cnf~reement ~f auch lien in,
ieg:+l pre~ceedin~t: ~ahich operate to prctient the ~nfurcrment o( thc licn c~r forfc~tur~ ot the Pro~ert~ or an~~ part thereuf.
S. Halard Insurance. Borro~~cr ,hall kccp thc impr~~~emcnt~ n~~~. r~i~ting ur hereaficr crccird an thc Pro~xrty insured
a~ainst Ims h~• fire. harards included w•ith~n the ternt "~tte~~de~l cu~cr.e~e". and such rnher haiards a~ 1'ender may n:yuire
.,nJ ~n such :~m~~u~~t. and 1'or su.h ~xri..dti a; 1_cnd~r ma~ rryuirc: pru~•iJc~i, that Lrn~lcr ~hall not n:yuirc that thc amount of
+u~h a~~•eraLC c~cred that lmount ot co~crage reywred ~u ~ac th~ ~um~ .ccured M this ,\1orlgag~.
The ~nsuranre :arricr providtn~ thc inturance s6a1t bc ~ho.rn by Borro~~cr siibject t~ approval hy~ 1.en~ler, prm•ided,
that wch a~~~rovc~f .hall nut br ~inrca~onahl}• u•ithheld. All premii~m. ~~n insurance p~•)ic~rs tihall t+c ~aid ~n the manner
prov~ded under p~ragraph 2 he-eof ur. if not paid in .uch manner, by Burrower making payment, whcn due, ~irectly to the
insurancc .arne:.
Alf insurancc ~olicic~ an~ ;cnc.?als thcrert shatt b~ in forni .~c~e~tabl~ to i.cn~trr anJ Shai) incliidr a~t.~+~Jard mortgagc
~lause ~n fati:•r e~f artd in [~>rm acrr~tahle tu lxnder. l.ri~der .hall ha.e the right tc~ hold the pulicir, an.l rcne~+alti thereuf.
.~nd Borr.~~ser sh:ill pro:nptl: iurnuh to Lender all rcnrwa) notices and all recripts of paid premium.. In the event i~t loss.
Borr~~H•er yh:~ll g~ve pru~~ipi not~ce to th~ insuraizcr carrier and I.ender. Ler,der ma~ make proc~t of loss if not made ~rompUy
b~~ B~~rrowcr.
Unless I.enJcr and B~irr.~urr othcru~.e agrcc in ~riting, inwrance pnkecdt shall be applied to re~toration or repair of
thr Propert)• clamagc~i, pro:,~~d su~h resturat~un ur repair is_ cconumicall~• f~asiblt and thc tccurity of thi~ Mortgagc is _
not ~hereb~~ impaired. If su~h re~t~ir:?:::,n or rtpair is ?ut ~corn~micalh fea,ible or if the security~ of this 111ortgage w~ould
tx: impaircd, the insurance pr~keed~ ~hall be appli~d to thr sums sx:cc~reJ b} this Mortgage. uith the excess, if any, paid
te~ Borr~~w~er. I! the Pruper~~ i~ ah.ui~l~~ncd h~ R.~rmwrr, c~r if Rorr~wer f:~itti tc. res~~nd to I.ender within 3U da~~s ir~~m the
date notice ~ti maile~+ h}- Lender B:•rrr~er that the insurance carrier c~lters t~ settle a claim fur insurance benefi.s, I_ender
authurized to coUect anJ apply the iniuran~e proceeds at Lendcr's option either tu restoration or repair of the Property .
ur to thc suin> scrured b}~ th~s ~lo~tga~;~.
llrzles~ l.ender and Borrnxrr othenti,c agree in writ~ng, any such application of proceeds to pnncipal shall r.ot eztend
or p.,stpunc thc duc datc ot th~ rn~~nthh imtallmcntc rcfcrrcd t~~ in paragraphs 1 and 3 hcreof or changc thc anzount of
~u~h in•;tallments. It under paragraph I S hereof the Pmperty is acyuircJ h~• Lender, ait right, tide and interest of Borrower
m and t~• am in~urance pc~ticies and in and to the proc-eeds thereof resulting frum damage ro the Property prior to the sale
or acyui~iUon ~hall pass to Lender ~o the e~tent of the sums secured b~• thii ~tartgage immediately prior to ~uch sale or
acquisition.
6. Presenation and ~laintcnance of Propert~; I.easeholds; Condominiunis; Planned C`nit De~•eiopments. Barrow~cr
shall kcep th~ Propcrty in good repair and shatl not commit ~aste or permit impa+rment or deterioration of the Property
snd shal! romply with the provis,ons of any tease if th?s Mortgagc is .~n a Icaschold. If this ~tortgagc is on a unit in a
candominium .~r p1a~~r~eJ unit de~elo~ment, Borrower shal! perform all of Borr~•wer's ubligations under the declaration
or covenants errating or gu~:ernmg th~ rnndom~nium or planned ~enit development, the by-law•s and regulatianc of the -
con.lominium or planned unit Jevelupment. .,nd constituent documents. If a rondaminium or planned unit de~•elopment
rider ~s e~ecutLd by 8orrower and rec~rdcd toge~her w~th th~s I~tortgage, th~ rnvenants and agreements of su~h ridcr
shall tk; ~ncorporated into and sha{I :?mcnd and supplement thc covenants and agreemcnts of this Mortgage as if thc rider
wrre a part hereof.
7. Protection of i.enders Secnriry. If Rorruu~er faits to perfc~rm the covenants and agrcements contained in this .
Mortgage, ur if any actiun ar proceeding commenceJ whi.h ma~eriall~• afiects Lender's interest in the Pro~xrty. -
includmg. but n.~t lim~ted ~o. rmimnt domsi~. inu~lvenc~, cude cnf~~rccment. or arrangements or proceedings invoh•ing a
bar,krup~ or decedent. then 1_ender at I.ender's option, upon nntice t~~ BOffOM'Cf, ma} make auch appearances, disburse such
sums and take such actiun a~ is neceti,an- to pn~te~t i_ender's. mterect, rnclirJing. but not limited to, dicbursement of
reasonable attomcy's fce~ and entry uFx~n the Propcrn to makc repairs. If Lcnder rcyuired mortgage insi~rance as a ;
cundiUon of making thc lo:;n ~ec~~re.1 b~ thiti I~t~~rtgage, B~~rre~~~cr shall pay the premiums reqwred to maintain such
insurance in etiect umil ~;ich timc as ~he reauircmcnt for ,uch insura~ee terminates in acCoMa~cd w~th Borr~~wer's and -
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