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Uxtrostw Gbvst+aw». Borrower t+ad Leadef covenant and agroe as follows:
ho~testt of hisei~al sal lalsrrst. Bwcower shall promptly psy when due the principal of aril interest oa the
iadebbdaess evidaaoed by the Note. prepayts>eat and lab charges as provided in the Note. and the principal of and etter+est
as aoq? PttRwe Advaates sttcttred by tbit lrlortgage.
11 i~ ~ ~ ~ to s~plicabk !aw or m a written waiter b)? mender. Boerwrer sbap pay _
to Lender oa the day matthly iastalhtitenb of principal and interest ire. payable undo the Notes until the Nob is paid in full.
a sttaa (ha+eit+ "Ftatds") etittd to ate-twelfth of the yearly taxes std assessntatts which may attain priority Dues' this
Mortgage, and droteid riab oa t4e Property, it any, phts Due-twelfth of yearlli praaitutt iratdhttatq ta' hazard ittwrattce.
plus ase•twelfth of yearly pr+easitua iastalhttents for mortgage instrance. if any. sll ss reesonably estimated initially and ft+om
tittle tD time by Leader ar the bases of assessments and hills and ressonabk estimates that+oof.
7Le Ftsndt shall be beW in as institution the deposia or a«ounts of ~ihich era inwred or Suaranteed by a Federal of
able agency (iachding Leader if~Lender is such an itatitution). lender shall apply the Ptitrsds to pay said taxes. atsestrrteab.
iawtraaoe prenshtrnt aril gtouad rents. =Lender may not chuge for so holding and applying the Fends, analyzing said account.
or verifying.aad compiling said asfasntents and bills. unless I endw pays Borrower interest oa the Futrds and applicable law'
permib Lender to make such a chugs. Borrower and Lender tray agree in writing at the lima of executiot+ of this
Mortgage that interest oa tba Putd: shall be paid to Borrower, and unless such agt+eement is made or applicable law i
requires such interest to be paid. Leader sbttll not be required to pay Borrower any interest or earnings on the Funds. Lender
shall pva to Borrower, without charges. an annual aceountiag of the Fund showing credib and debits to the Funds and the
_ purpose for which etch debit to the Futile was made. The Funds -are pledged as additional security for the sums secured
by Chit Mortpga. .
. - -----If-the amount-of the Funds hdd-by-Lender. together with-tfie futun_muathly instahtttenq. ~ Funds. payask prior to
the due dates of taxes, assessttteab. iratuartce premiums and ground rents, shalt exceed the amount required to pay said taxes,
astessmeab. imuraaca premiums and ground teats- as they fall due. such excess shall ta, at Borrower's option. either
promptly repaid a Borrower a credited to Borrower on monthly installment: of Funds. If the amotutt of the Funds
held by I.eadersball not be std8cie~ to pay taxes, assessrrtettts. inwrance premiums and ground vents es they fall due.
Borr+owet shall pay to Larder any atrtouat aeoessary to makeup the deficiency within 30 days from the date notice is mailed
by header to Borrower requatiog payment thar+eof.
Upon payment is full of all Burns tecw+ed by this Mortgage. Leader shell promptly refund to Borrower any Funds
held by Lender. If uadtx paragraph 18 hereof the Property is sold or the Property a otherwise soquir+ed by Lender. Lender
abaU apply. tw later rhea immdiately prior to the sale of the Property or its acquisition by Lender, any Funds held by
Wader at the time of application as a credit agsiari the sums secured by this Mortgage. _
3. A~ileatiart et lsgaseab. Unless applicable law provides otherwise. all payments received by Lender under the '
Nob sad paragraphs I std 2 ba+eof shall be applied by Lender first in payment of amounts payable to Leader by Borrower
under patiragraph 2hereof,-than ~o interest piYabk on the-Note. thtrt ta-the principal of the Note, end-thee~o-interest and-- -
principal oa-any Future Advaatxs. - _
4. Chargai Lists. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
the Property which racy attain a priority over this Mortgage. and leasehold payments or ground rents, if any. is the manner
proviided under paragraph Z hereof or, if not paid in such +narnner, by B~xr:,xer maki~ p:;~rueai, s:haa due. dirxily to the
payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, sad in the rural
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 lies in' a manner seoeptabk to Lender,. or shall iq good faith rnntest such lien by, or defend enforcement of such lien iq
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property of any part thereof-
' S. Hazard Ies~rs~ce. Borrower shall keep the improvements now existing or hereafter erected oa the Property insured
sgairat loss by fire. hazards included within the term "extended coverage", and such other hazards as Lender may require
sad is such amounts and for such periods as Lender may require; provided, that Lender shall not requires that the amount of
such coverage exceed that amount of coverage required to pay the sums secured Eby this Mortgage.
'Ibe ittwraaoe carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided,
i that such approval shall not be unreasonably withheld. All premiums on inwrance pdicia shill be paid in the manner
' provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, what due, directly to the
inwraoae 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.
sad Borrower shall promptly furnish to Lender all renewal notices and all receipt: of paid premiums. In the event of_Ioss,
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of lass if not made promptly
by Borrower.
t Unless Lender and Borrower otherwise agree in writing. inswance proceeds shall be applied to restoration or repair of
the Property damaged, provided such ratoration 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 soma 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 Leader 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
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 installments. If under paragraph Ig 6ertof the Property is acquired by Leader, all right, title and interest of Borrower
in sad to any Insurance policies and in and to the proceeds thereof resulting from damage to the 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.
f. lreservatloo amd Maioteaaece of Property; Leaseholds; Condominiums; Planned Unit Derdopmeats. Borrower
shall keep the Propertyr is good repair and shall not comtpit 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 unit in a
condominium or a planned unit development, -Borrower shall perform all of Borrowers obligatiotu 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 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 hereof: '
7. Protectias of Lender's Sectttity. If Borrower fails to perform ,the covenants and agrcements 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 Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
sums and take such action as is nee to protect Lenders interest, including. but not limited to. disbursement of
reasq~rttabk attorney's fees and entry u n the Properly to make repairs. If l.cnder required mortgage insurance as a
condition of making the loan secured-by-this Mortgage. Borrower shall pay the premiums required t6 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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