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Ut+q~oetst Oovtu+et+rts: Borrower sad Letader covenant and agree as tdlows: °
>G ><gtte~ el hLe1N1 tetM 1Mene1. Borrower shall promptly pay when due tba principal of and interest on the
ittdebtedaea evidenced by the Nora. prepayment and late charges as provided in the Notes and the principal of and interest
oa any Future Advances sttcund by this Mortgage.
to tcabk law ar to a written waiver by lender. Botmwer droll Pay
s !`i ter i1>Des tttnti trte.r~m+e. Subject app)'
to Loader on the day monthly installments of principal and interest ire. payable under the Note. until the Note is paid in full,
a cum (btrtein "Fuads'7 equal to one-tMrdith of the yearly tax~Y and assessments which may attain priority over this t
Mortgage. sad ground r+atts oa the Property. it any, plus one•twelftA of yearly premium installments for hoard insurance, ~
plus oaatweltth of yearly prerrtitun installments for mortgage insurance, if any, all as rasortably estimated initially and from ~
time to tiara by Lender oa the basis of assessments and bills and reasonable estirgata thereof.
• The Furls shall be odd in an institution the deposiu or accounts of which era insured or guaranteed by a Fodenl otr
slats agenry (including Lender if Lender is such an institution). I~nder shall apply the Funds to pay said taxes. assessrttertts.
iawranoa premiums and ground rents. lender may not charge for so holding and applyins the Frtrtds. analyzing said account.
or veritying,aad compiling said assessments and bilk. unless Lander pays Borrower interest on the Funds and applicable law
permits Leader to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
regains such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Furrds. Lender
shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
purpose [or which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
by this Mortgnge. ;
U the amount of the Funds hdd by Lander, together with the future monthly installments of Funds payable -prior to +
the due dates of taxes. asxssmeats, insurance premiums and ground rents, shall exceed the amount required td pay said taxes.
assttrmeats. inwraaoa premiums and ground .rata as they tall due. such excess shall be. at Borrower's option. either
promptly repaid to Bottovtrar or credited to Borrower on monthly installments of Funds. If the amount of the Funds
bill by Lander slut! not be wf6tdeat to pay taxes. assessments, insurance premiums and ground rents as they fall due.
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by leader to Borrower requesting payment thereof.
Upon payment in full of aA sums secured by this Mortgage, tender shall promptly refund to Borrower any Funds
held by Lender. if unda° paragraph 18 hereof the Property is sold or the Proptny rs otherwise acquired by Lenckr, Lender
sbaA apply, rte later than immediately prior to the sale of the Property or its acquisition by lender, any Funds held by
Leader at the time of application as a credit against the sums secured by this Mortgage. -
3. ARlkatioa of lgasetals. Unless applicable law provides otherwise, all payments received by Lender under the
Note and par°agrspbs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof, rhea to interest payable on the Note, then to the principal of the Note, and then to interest and
principal on any Future Advances.
4. Cdrga~; Dews. 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
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly to the i
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 long as Borrower shall agree in writing to the payment of the obligation secured by
such list in a manner acceptable 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 lien or forfeiture of the Property or any part thereof. :
S. Ilanrd Inserawee. Borrower shall keep the improvements now existing or hereafter erected on the Property insured I
agaimt lass 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 I
such coverage exceed that amount of coverage required to pay the sums secured Eby this Mortgage.
'Ibe inwranee carrier providing the insurance shelf be chosen 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
iaweance carrier.
All insurance pdicies 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 Ixnder. 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
t be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any. paid
s to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
s 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 rite insurance proceeds at Lender's option either to restoration or repair of the Property
' or to the sums secured by this Mortgage.
t 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 Property is acquired by I.endcr, all right, title and interest of Borrower
in and to any Assurance policies and in and to the procceds thereof resulting from damage to rite Property prior to the sale
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition. ,
6. lreservatiow awl Maintenance of Property; Leasehdds; Condominiums; Planned Udt Devdopnsewts. Borrower
shall keep the Property in good repair and shall not comrpit yvaste or permit impairment or deterioration of the Property
' and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a uniC in a
cotndominium or a planned unit developttsent, 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. If 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 be 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. If 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,
4 including. but not limited to, eminent domain, insc?Ivency, code enforcement. or arrangements or proceedings in'voh•ing a
bankrupt or decedent, then Ixnder at Lender's option, upon notice to Borrower, ma}• make such appearances, disbutx such
sums and take such action as ii necessary to protect lenders interest, including. but not limited to, disbursement o[
reasonable attorney's fees and entry upon the Property to make r:pairs. If I_cnder reyuircd mortgage insurance as a
condition of making the loan secured by this Mortgage. Born?wcr shall pay the premiums required to maintain such j
insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrowers and `
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