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Ut+awstnt Ooverurns. Borrower sad Leader covenant and agree ss fellows:
rgtwatN at 1<siaelMsl alai IaNtreal. Borrower shall promptly pay when due the principsl of and intsreat on the
indebtedetass evidenced by the Note. ptepaymeat and late charges as provided in the Note, and the principal of sad interest
oa say Ftttnte Advattoa sxutred by this Mortgage.
>Ert~tis hr'hant tttstt Irtsaraaa~e. Stitbject to applicable law ~x to a written waiver by Leader. Bort+asver shop Pay
to Loader on the day monthly installments of principal and interest arc. payable under the Note. until the Note is paid in full.
a pmt (herein "Futrds'q egaal to one-twelfth of the yearly tax~~ and assessments which may attain priority over this
Mortpge, and grotntd meats on the Property, if any, plus one-twelfth d yearty~ premium installments for hazard insurance.
' plw oae•twdith at yearly prcmiwa installments for mortgage insurance, if any, all as reasonably estimated initially and tray
lima to tiara by Leader ar the basis of assessments and hills and reasonable estimates thereof.
'ILe Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
'state agency (including Leader if Lender is such an institutionl. Lender shall apply the Funds to pay said taxes. assessments.
iawtaaos ptwniuttts sad ground rents. Lender may not charge torn holding and applying the Funds. analyzing said account,
ot; verifyiag~nd compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applipbk law
permits Lender to make such a charge. Borrower sad Lender may agree in writing at the tune of execution of this
Mortgage that interest on the Funds shall be paid to Borrower. sad unless such agresment a made or applicable law _
requires such interest to be paid. Leader shall not be requited to pay Borrower any interest or earnings on the Funds. Lender
sbaU give to Borrower. without charge, an annwl aooounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds was made. 7be Funds are pledged u additional security for the sums secured
by this Mortgage.
If the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount roquircd to pay said taxes.
ataeaments. insurance premiums sad ground rents as they fall due. such excess shall be, at Borrower's option. either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Leader shall not be wffitaent to pay taxes. asxssmeats. insurance premiums and ground rents u they fall due,
Borroarer 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 aq :trans secured by this Mortgage, Leader :tall promptly refund to Borrower any Funds
held by Leader. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
shall apply. no later than immediately prior to the sale of the Propef}y or it: acquisition by Lender, any Funds held by
Leader at the time of application a: s credit against the sttm~tectt{od by this Mortgage.
3. A~licatiort s+t >ra~eMs. Unless applicable liw proviiia~otherwise. all payments received by Leader under the
Note sad paragraphs 1 sad 2 hereof shad be applied 6y Lendei`fir~h pa~rlllrr~t of amounts payable to Lender by Borrower
under paragraph 2 hereof, then to interest payable oa tlfe-Nora; thett?.to tlBsgbirtt~al of the Note. and then to interest and
principal on any Future Advances. - . ,~ew,..,•.: n{ itiYa,~
4. Charges; Liass. 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 lessehold payments or ground rents, if any. is 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 is the event
Borrower shall make payment directly. Borrower shall promptly [umish 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 acceptable to Lender. or shall in good faith contest such lien by. or defend enforcement of such lien iq
legal proceedings which operate to prevent the enforcement of the lion or forfeiture of the Property or any part thereof.
S. Hazard Iaatrsace. Borrower shall keep 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
sad 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 by this Mortgage.
'Ibe insurance carrier providing the insurance shall 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 meaner
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 sad 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,
i Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loos if not made promptly
by Borrower_
f ~ Uakss 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 stuns 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 option either to restoration or repair of the Property i
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 1 and 2 hereof or change the amount of
such installments. If under paragraph IS hereof the Progeny is acquired by Lender, all right, title and interest of Borrower
in and to any htsurance 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
acquisitan.
f. !reservation sad Mrriateaaace of Property; Leaseholds; Condominiums; Planned Udt Devebpmeats. Borrower
f shall keep the Property is good repair and shall not commit yvaste or permit impairment or deterioration of the Property
sad shall comply with the provisions of any lease if 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 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
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 Mongage as if the rider
E were a part hereof.
7. Protectioe of Lender'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,
including. but not limited to. eminent domain. insolvency. code enforcement. or arrangements or proceedings involving a
bankrupt or decedent. then i.ender at lender ~ 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 fees and entry upon the Property to make repairs. If I_cnder required mortgage insurance as a
condition of making the loan secured by this Mongage. Borrower shall pay the premiums require) to maintain such ~
insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
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