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UND~ORIt Cbva+awr8. 10rTOwer sad Lander oovsaant and agree as follows:
~ ~4~ at >Aric>Maa aura LNtwl. Borrower :hall promptly pay when due tha principal of std iataest an the
indsbldetess evidenced by We Noq. prepaytne~at std bte charges as provided in the Noss. srd the principal o[ attd iatetest
~ t~iy I'i~"ii.`v A sR'itred by this Mortgage.
1 llttttwis fir'ilrpt+ aatt Lnttsa¦es. Sltbject to appUcabk Isw .x to a written waivsr by Lstrder. Bon+ost?sr shall ptq
b Lsadsr on the day ttaouthly ittstalh»snts of principal and interest arc.payabk under the Note, until the Nots is paid in full.
a wnt (Mroin "Fuads'~ squat to one-tvrelfth of the yearly tax~x and atassntatts which taay attain priority owr this
1[ostgage, and grgrtld teals oa t4e Property. if say. pha one-twelfth of yearlli~ premium itataThrtarts far haturd irattrsnce, '
plus one-twelfth of yesrh? premium iastallraertt: for rrtortgage irtstrrartce, i/ say, ap as reasonably estimated initially and front
time to tune b'!' Lander on the basis of assessments and hilts and reasonable estimates thereto.
'Itye Fltnds shall be Geld is as institution the deposia a accounts of which are insured or guuanteed by a Federal of
state agency (iechrding Letsder if Lender a such an institution). !.ender shall apgy the Fltrtds to pay said taxes. asseantaNs„
iastrraaoe priartittrns and pound tents. bender may not charge-for stt holding srd applying the i~nnds. analysing said accauni,
or vaitying.apd oompilirr; said as:asrrrertts and bills. unless Larder pays Borrower imerest on the Funds and apptiabk law
pecnd4 Lender to make such a chugs. Borrower and mender may agree is writing at the time of execution of this
aortgage that ittterat on the Fltods shall be paid to Borrower. and unless such ttgreaaent is made-or appliable law
rogtdt+OS such interest b be paid, bender shall not be r~equirod to pay Borrower any interest or earnings on the Futtds. Lender
chap live b Borrower. without cbar~e, an annual accounting of the Furls showing credits and debits to the Funds and the
purpae~or which esdt debit to the Funds was made. The Furls arc pledged a: additional security for the sums secured
if the aanottrtt ai the Futds held by Lader. together with the future monthly installments of Funds payable prior b
the due data of taxes. a>>raraeaq, irrurttnce prcmiurrt: and grourd rafts, shall exceed the amount tequir+ed to pay said taxes,
anessaseab. iasutaaoe premiums and =round rafts as they fall due. such excess shall be, at Borrower's option. either
` - p~ptb' repaW b Hornowsr as credited to-BonoNnx- oa_trtoathly installments of Funds. I[ the amount Of the Funds
held by Lsadar-sha6 not be w~cient tii pay taxes, assessanerrts. insurance premiums and hound rents as they ..fall du0. -
Borrowerchap pay to Lender any amount aeoessary to make up the deficiency within 30 days from the date notice a mailed
by Fender b Bon+owec requesting payment thereof. -
Upon payateat in ftrp of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Fund:
held by Lender. If under paragraph 18 hereof thr Property is sold or the Property a otherwise acquired by Lender.. Lender
shall apply, no later tbm immediately prior to the sale of the Property ar its acquisition by Fender, any Funds held btr
Lander at the time of appticatloa'as a credit agairgt the stuns secured by this Mortgage.
3~. Aplikatioa ei Tq>•esb. Unless spplicabk law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by Lerxkr first in payment of amounts payable to Lender by Borrower
under paragraph 2 het+eof. rhea to iota'est payable on the.. Note. _then to the principal of the Note, and rhea to intact and
principal on any Futtue Advances.
1. (-`hargas; I.leas. Borrower shall pzy a1! taxes, assesutxnts and other charges. fines and impositiats attributsbk to
the Property which may attain a prariity over this Mortgage. and leasehold payments or grottrd rents, if any, in the manner
provided under paragraph 2 ha+eof or, if not paid in such manner, by Borrower making payment, what due. directly to the
payee thereof. Hormwer shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
Harrower shall make payment directly. Borrower shall promptly furnish to Lender resceipts evidencing such payments.
Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall rat be
required to discharge any such lien so bng as Borrower shall agree in writing to the payment of the obligation secured by
such lien in a manner atxeptabk to Lender, or shall in good faith contest such lien by, or defend atfottanertt of such lien in.
legal proceedings which operate to prevent the enfortment of the lien or forfeiture of the Property or any part thereof.
S. I~tmrd Ioa~raaea Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire. hazards included wiWin the term ''extended coverage", and such other hanrds as Larder 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 coverage exceed that amount of coverage requ;red to pay the sums secured ~y this Mortgage.
The inwranoe 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 shill be paid in the rnanrter
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower malting payment, when due, directly to the
inwrance carrier.
AU insurance policies and resttewals 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 tha~eof,
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 notices 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 ratoration or repair of
the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
not tbsreby impaired. If such ratoration or repair is not economically feasible or if the security of this Mortgage would
be impaired. the insurance proooeds shall be applied to the sums secured by this Mortgage, with the excess. if any, paid
to Borrower. If the Property is abandoned by Borrower, or it 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 provads at Lenders option either to restoration or repair of the Property
or to the wms 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 18 hereof the Property is acquired by Lender, all right, title and interat of Borrower
in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
or acgttiisition shall pass to Lender to the extent of the sums secured by this Mortgages immediately prior to such sale or
acquisition.
f. 1'seacrratba sail Maiateaaoce of Property; Leaseholds; Condoaridnrns; Planned Ustit lkvdopweats. Borrower
shall keep the Property in good repair and shall not comrpit yvaste ar permit impairment or deterioration of the Property
and shall comply with the provisions of any (ease 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 Borrower's obligations under the declaration
or covenants creating or governing the condominium or planned unit devebpment, 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. Protectbo of Lender's Security. If Borrowesr (ails 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 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 lenders interest, including, but not limited to. disbursement of
reasonable attorney's fees and entry upon the Property to make repairs. if Lender regttirtid mortgage insurance as a
condition of making the ban secured by this Mortgage. Borrower shall pay the premiums required to maintain such
imurarrce in eBect until such time as the requirement for such insurance terminates in accordance with Borrowers and
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