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Ur+trortss ~ovrnntm, Borrower artd header covenant and agree at fellows:
rglltaM M lhint*el ssi 1rMerest. Borrower shall promptly pay when due the principal of and interest on the
iadebtedetea evidenced by the-Note. ptepaymmt and fate charges as provided in the Note, acrd the principal of std interest
as soy Future Advances aecw~ed by this Mortgage.
ltstsi 1?er 7'a:zsa asrti lnees+aut~s. Slrbject to applicable bw M to a written waiver by lender. liorrowar shell WY
to Ltrader on lire day monthly installments of principal and int~rect arc payable under the Note. until lire Note is paid in toll,
a sum (heroin "Fuada'ry egttal to orre-twelfth of lire yearly tass~ and assessments which may attain priority over this .
Mortgage. and growtd rents oa the property, it any, plus one-twelfth of yearh? premium installmenu [or hazard irrwrance.
plus one-twelfth of yearly premium installments for mortgage instrrantx, it any, all as reasonably estimated initially and from
time to time by Leader oa the bass of assessments and hills and reasonable estimates thereof.
The Fwrds shall be held in an institution the deposits or accounts of which aro insured or guaranteed by a Federal or
state aseacy (including bender if Lender is wch an institutionl. Lender shall apply the Funds to psy said taxes. assessments.
iaauraaoe premiums and groundYents- lender may not charge for so holding and applying the Frrrrds. analyzing said account.
oc verifyitrg.sad eompliag said assessments and bilk. unless Lender pays Borrower interest on the Funds and applicable law
permits Larder to make such a clrar~e. Borrower. and Leirder may agree in writing at the time of execution of this
Mortpge that interest on the Funds shall be paid to Borrower. and unless such agreement a made or applicable law
• requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
:hall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds was made. The Funds arc pledged u additional security for the sums secured '
by this Mortgage.
)U the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
the due dates of taxes. a::aanreats. irrsttrarrce premiums and ground rents. shall exceed the artrount required to pay said taxes.
aawments, insurance prartiutns and ground rents as they fall due. such excceu shall be. at Borrower's option. either _
promptly eepaid to Borrower ar credited to Borrower on monthly installrr~uw of Funds. If the amount of the Fund:
held by Leader shall not be strtHcient to pay taxes. assessrrrent:. insurance Ftemiums and ground rents as they tall due,
Borrower:ball pay to Lender say amount neoasary to make up the deficietrry wrthin 30 days from the date notice is mailed
by Leader to Borrower requaaing payment ther~oof.
Upon payment in full of all sums secured by this Mortgage, Lender strap promptly. refund to Borrower any Funds
held by Leader. If utdtr paragraph 18 hereof the Property is sold or the Property ~s otherwise acquired by Lender. Lender
shag apply. no later than itnanediately prior to the sale of the Property or its acquisition by Lender; any Furrds held by
Letsder at the titt+re of application a: a credit against the sums secured by this Mortgage.
3. A~lkattorr d lamb. Unless applicable law provides otherwise. all payments received by Leader under the
Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under 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. Crtrges; Liars. Borrower shall pay all taxes. assessments and other charges. fines and impositions attributable to
the property which may attain a priority over this Mortgage. and leasehold payments or ground rents. if any. in the manner
providod render-paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, what due. directly to the
payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, sad in the event
Borrower" shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing .such payments.
Borrower shall promptly discharge any lien which has priority over this Mortgage: provided, that Borrower shall not be
required to discharge any such .lien so bng as Borrower shall agree in writing to the payment of the obligation secured by _
such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such liar in,
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
S. Hwrd irrsarawce. Borrower shall koep the improvements now 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 sums secured Eby this Mortgage.
'Ibe insurance carrier providing the insurance shall be ctrosen by Borrower subject,to approval by Lender. provided.
that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or. if not paid in such manner, by Borrower making payment. when due. directly- to the
insurance carrier.
All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
clause in favor of and in form acceptable to Lender. Lender-shall have the right to hold the policies and renewals thereof,
and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. in the event of loss,
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
@ by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance procceds shall be applied to restoration or repair of
the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would •
be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
is authorized to collect and apply the insurance proceeds at Lender's gption either to.restoration or repair of the Property
or to the wens secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments. If under paragraph 18 hereof the Pro ferry is acquired by Lender. all right, title and interest of Borrower
in and to any Insurance- policies and in and to the proceeds thereof resulting from damage to the Property prior to tlx: sale
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
f, heaerratioa sad Maietenance of Property; Lerrsehotds; Condominiums; Planned Unit Derebpments. Borrower
shall ktep the Property in good repair and shall not commit yvaste or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease it this Mortgage is on a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
condominium or planned unit development, and constituent documents. It a condominium or planned unit development
rider is executed by Borrower and recorded together with this Mortgage, the covenants and agrcements of such- rider
shall bt incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
were a part hereof.
7. Protection of Leader's Security. 1f Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the .Property:
including, but not limited to. eminent domain. insc?Ivency. code enforcement, or arrangements or proceedings invol~•ing a
bankrupt or decedent. then Lender at Lender's option, upon notice to Borrower. ma}• make such appearances, disburse such
sums and take such action as is necessary to prcuect Lenders interest, inclyding. but not limited to, disbursement of
reasonable attorney's fees and entry upon the Property to make repairs. • It 1_ender required mortgage insurance as a
condition of making the loan secured by this Mortgage. Borrower shall pay the premiums required to maintain such
insurance in effect until such time as the requirement for such insurance terminates. in accordance with Borrowers and ;
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