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Untrottat OovanAt~t1'e. >ort+ower and I.tader covenant and agree as follows:
liy~setN et h1¦e4a1 ssN ItMerese. Borrower shall promptly py when due the principal of sad iaktest on the
evidettoed by the Note. ptYpayttsatt and late charges as provided in the Nob. and the principal of and interest
oa any Futtu+e Advatttxs secw+sd by this Itlortgage.
1 Irri ter Taaas ttntl lasureucw Subject to ttpplicabk isw ar to a written waiver by Lender. BoR~o*?atr shall pay
to Leader oa the day monthly ittstalhusnb of principal and interest ire payabk under the Neu, until the Note is paid in fug.
a sum (httreLt "Fttads"
1 equal to one-twdith of tha yearl~• tax~~ and assesuneets which may attain priority over this
Mortgage. and grptrtd reab oa the Property. if any, pltrs orte-twelfth of yearlli~ premium instsllmdtb for hazard inwrartce.
plus oaatwelfth of yearly prwaiwn installments for mortgage inutratxe, it any. all ss reasonably estimated initially and tray
lima to time by Lender oa the basis of assessments and hills and rcasonabk estimates thereof.
• The Ptireds shall be bNd in sn institution the deposits or accounts of which are insured a guaranteed by a Federal or
sbb agency (irtchding Leader if Lender a such an iratitutionl. 1-ender:ltall apply the Furrds to pay said fazes. assessment.
insurance premiuaa and ground rent:, lender may nol charge for so holding and applying the Frtrtds. analyzing said account.
or verifyingind compiling said assessments and bills, unless Leader pays Borrower interest on the Funds and applicable law
permit Leader to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
Mortgap that interest on the Funds shall be paid to Borrower, and unless suet agreement s made or applicable law
regains cash interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
stall give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds sad the
purpose for which sadt debit to the Funds was made. The Funds arc pledged ss additions! security tar the sums secured
by this Mortgage.
TE the amount of tbts Funds held by Lender. together with the future monthly installments o[ Funds payable prior to
the due dates of fazes. assasrrtent, in:tuana premiums and ground rents, shall exceed the amount required to pay said razes.
saeaments, insurance premiums and ground rent ss they fall due. such excess shall be. at Borrower's option. either
promptly repaid to Borrower a credited to Borrows on monthly installments o[ Funds. If the amount of the -Funds
bald by Leader shall not be w!&ieot to pay taxes, aseesunent. insurance premiums and ground rent m they fall due,
Borrower shall pay to Leader any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Deader to Borrower trequating payment thereof: -
Upoa payment in full of all scans secured by this Mongage, lender shall promptly refund to Borrower any Fantle
beW by Leader. If under parttgrapb 18 hereof the Property is sold of the Property rs otherwise acquired by Lender. Lender
stall apply. no later than immediately prior to the sale of the Property or it: acquisition by Lender. any Funds held by
Lender at the time of application as a credit against the :ums sxured by this Mortgage.
3. A~iicatira et lamb. Unless applicable law provides otherwise, all payments received by Lender 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
printipal on any Future Advances.
- 4. Charges; Clefts. Borrower shall pay all taxes, assessments and.•gther charges, fines and impositions attributable to
the Property which may attain a priority over this Mortgage, and kasthold payments or ground rents, if any.. in the manner
provided under paragraph 2 hereof or, if not-paid in such manner, by Borrower making payment. when due. directly to the _
payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph. and 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 brag as Borrower shall agree in writing to the payment of the obligation secured by
such lien in a manner acceptabk to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
legal proceedings which operate to prevent the enforcement of the lion or forfeiture of the Property or any part thereof.
S. Hazard Iwsttrawee. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loos 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 coveragt exceed that amount of coverage required to pay the sums secured Eby this Mortgage.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided.
that cash approval shall not be unreasonably withheld. All premiums on inwrance policies shall be paid in the manner
provided under paragrapb 2 hereof or, if rat 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 acceptabk to Lender and shall include a standard mortgage ~ j
~ clause in favor of and in form acceptabk to Lender. Lender shall havc•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 bas if not made promptly
by Borrower.
Unless Lender and Borrower otherwise agree in writing, .insurance proceeds 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 I
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 procceds at Lender's option either to restoration or repair of the Property .
or to the sums 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 I and 2 hereof or change the amount of
such irtstallmeats. If under paragraph 18 hereof the Property is acquired by Lender. all right, title and interest of Borrower
in and to any Auurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
1 or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or }
acquisition. ~
l f. 1!reaervatbo sad Maiatepance of Property; Leaseholds; Condominiums; Planned Unit Devebptneats. Borrower
l shall keep the Property in good repair and shall not commit yvaste or permit impairment or d_ eterioration of the Property
-and shat! comply with the provisions of any kale 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 alt of Borrowers 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. If a condominium or planned unit development ~
r rider is executed by Borrower and recorded together with this Mortgage, the covenants and agrcements of such rider
shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
t were a part hereof.
r 7. Protection of Lender's Sectrrlty. 1f Borrower fails to perform the covenants and agreements contained in this r
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 involving a
bankrupt or decedent, then lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such _
sums and take such action as is necessary to protect Lender's interest, including. but not limited to, disbursement of '
reasonable attorney's tees and entry upon the Property to make repairs. If Lender reyuircd mortgage insurance as a ~
condition of making the loan secure) by this Mortgage, Borrower shall pay the premiums required to maintain such
insurance in effect until such time as the requirement fcx cash insurance terminates m accordance with Borrowers and
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