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UtelO~M Oonro+Mrfs. borioerer arrd Leader covenant and egret ss follows:
lltPtwt st Trirae}ral ttM Islesra Borrower sbttll pranptly py what due the principal of and interest on the
evide>toed by t6s Note` Prepaymatt srd ble charges sx provided in the Note. atd the ptirrcipea of and intetdt
a ss'. Psttrre Advattoes secured by tAis ltartga`e.
Z lraie far rheas ttui I¦erars~tw Sltbjett to applicable law cu to a wtittsn waiver by Lender. Borrower shvl Pay
b Ls~der ow the day mowbly of pritcipal end interest are- payable under the Not0. until the Note is paid in full.
s sty paeira `Fitode'~ egtsai b orte~tweltdr of the yesrly tix~ and assrxsrrrrnts which troy attain priority over this
Moraaj4 and gtotmd tetMs a t>rs lrtopary. if atty. plus oaatwelhh of yeartli~ premium imtalhnents for hazard insurance.
puts otasiweBtb of yearly premium itatslbeertts for aitortgsge insurance. if any. all ss reasonably estimated initially and frog
time b base by Lstader as the basis of assessrrrents and hills and rcasonabk estimates thereof.
7lre i~trsds s1aB be itidw an institution the deposits or accounts of which arc iratu~ed or gwranteed by a Federal or
tttate agntcy (iodnd'xrg Lender if Lender is sudr an institution). Lender shag apply the Funds to pay uid razes. assasnratts.
iswraoaa pttsrrirrme sad ground rests. Lender may not charge for so holding and applying the Fnnds, analyzing said account.
a vai[yiegantl cotatg said asaasma,rs and bills, unless Leader pays Borrower interest on the Funds and applipbk law
peemila Lender to mate t+trcb a Borrower and Lender may agree in writing at the time of execution of this
lfatgegt that iaeerest ow the Rrode shsB be paid to Borrower. and unless such agreerrrent it made or applicable law
req¦irs tmc6 ialtxeri b be paid. Lender shag not be r~egtared to pay Borrower any interest or arnings on the Furtds. Lender
sW pve b borr+o~wer, without charge, as annual accounting of the Funds showing credits and debits to the Funds and the
prpae far which eat3 debit b Wt Funds was made. 'ibe Funds arc pledged as additional security for the sums secured
~ -If tre amamt o[ dne Ftmds 6dd bq leader. together with the future monthly installments of Funds payable prior to
the dtse dales of tattRS, assasrnents. iasnrarroe ptanitrms and ground rents, shall exceed the amount required to pay said taxes.
awea¦KOIs, insttraooe preawrms and gratrtd rents as they fall due. such excess shall be, at Borrower's option. either
p~ompdy repaid b oorrower or credited to Borraarer on moathty installments of Funds. If tbo amount of the Funds
)YrJi ~ Lender shay got be ancient tii pay taxes, amessaaatts. insurance premiums and ground rents ss they fall due,
boeroeKr sra9 py b Leader goy aarouot necessary to make up ebe deficiency within 30 days from the date notice is mailed
by IRader b borrower regtt~ paymart thereof.
Upon payment is [dl of a8 sums searrtd by this Mortgage. Leader :ball promptly refund to Borrower any Funds
Geld by Lender, U uada parapapib 18 hereof the Property is sold or the Property rs otherwise acquired by Lender. Lender
sWl apply, at? Wer thin immediately prior to the Bak of the Property or its sequisition by Lender. any Funds held by
Le¦der at We time of application as a credit agaimt the sums secured by this Mortgage.
3 A~Yra st lgmetata. Unless applrcabk law provides otherwise, all paytrxnts received by Lender under the
Note and paragraphs 1 and 2 hereof shall be spplied by Lender first in payment of amounts payable to Lender by Borrower
tinder pnragraph 2 hereof. rhea to interest payable oo the Note, thrn to the principal of the Note, and then to interest and
pscipal an goy Future Advaaoes.
4. Clarges; Lieaz Borrower shall pay all taxes. assessrrrents and other charges, fines and impositions attributable to
tie Property whiidr may attain a priority over this Mortgage, and leasehold payments or ground rents, if sny. in the manner
paridod under paragraph 2 hereof or, if not paid in such manner, by Borrower making payttaeot, when due. directly to the
payee tberoof_ Borrower sbaB promptly furnish to Lender all notices of amounts due under this paragraph, end in the event
Borrowetr s6aB make pzymeat directly, Borrower shag 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
rerptit+ed b discharge aey such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
such lim in a manner aotxptabk to Larder. or shall in good faith contest such lien by, or defend enforcement of such lien in,
legal prooee~rrgs which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
Htttar! Issr:aacr Borrower shall keep the improvements now existing or hereafter erected on the Property iosurod
against loss by 5re. hazards included within the term "extended coverage', and such other hazards as Lender may require
gad m such amounts and for such paiods as Larder may require; provided, that Lender shall not require that the amount of
such coverage ezeoed that amarnt of coverage required to pay the wins secured by this Mortgage.
'I1be iatstrranoe carrier providing the insurance shall be chosen by Borrower subjoet to approval by Lender, provided,
11,at at+c6 approval shall cot be unreasonably withheld. All premiums on inwrantx pdicies 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
f iastmaoe carrier.
AB inwrance policies gad renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
S clarise ar favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
~ and Borrvwer shall promptly furnish to Larder 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 k~as if not made promptly
by Borrower.
Unless Larder and Borrowu otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
the Property damaged, provided wch 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 a abardorred by Borrower, or if Borrower faik to respond to Lender within 30 days from the
date notice is marled by Larder to Borrower that the inwrance carrier offers to settle a claim for insurance benefits, Lender
is autborizod to collect and apply the insurance proceeds 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
a postpone the due date of the monthly installments referrtd to in paragraphs 1 and 2 hereof or change the amount of
such iastaUmeots. If under paragraph 18 hereof the Property a acquired by Lender, all right, title and interest of Borrower
m and w any inwraace policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
or aotlttisiboa shall pass to Lender to the extent of the wins secured by this Mortgage immediately prior to such sale or
~9~-
~ I<rrxrvatlaa aai rtavtewawce of Property; Leaseholds; Condominiums; Planned Utsit Devebpments. Borrower
shall keep the Property in good repair and :ball not comtpit yraste or permit impairment or deterioration of the Property
and shad comp4y with the provisions of guy kale if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
ooadominium or a planned unit devebprnent, Borrower shall perform all of Borrowers obligations under the declaration
a eoreoants nearing or governing the condominium or planned unit development, the by-laws and regulations of the
condominium or planned unit devebpment, and constituent documents. If a condominium or planned unit development
rider is esecuted by Borrower and recorded together with this Mortgage, the covenants and agreements 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 hoed.
7. PrMectioa d Iaaier's Secrwlty. If Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any actan or proceeding is commenced which materially affects Lender's interest in the Property,
including. but not limited to. eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or dercdent, then Lender at Lender
s option, upon mice to Borrower. may make such appearances, disburse such
sums gad take such action as is necessary to protect Lender's interest. including. but not limited to, disbursement of
reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
coodd~on of making the loan secured by this Mortgage. Borrower shall pay the premiums required to maintain such
imuraaoe in cftect until such time u the requirement for tiuch insurance terminates in accordance with Borrowers and
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