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Untrotuc oovstrw~s. Borrower and Larder covenant and asroe w follows:
>V, is~¦tsM et hioe4ttl sttM 1nNnet. Borrower -:hall promptly pay when due the principal of srtd interost oa the
indebtedness svidatoed by the Note. prepayment artd late charges ac l+rovided in the Note. sail the principal of sail interest
ea any Rotate Advances sxuw by tba Mactgage.
!ws tar'lytooee w iosrrsatee. Subject to applicable law or to awritten waiver by Ltutder, Borroerer shall wy
to Lender on the day tnoathlg installments of principal and intercH arc. payable under the Note, until the Note is paid in full,
s :stns (herein "Fttttds'~ equal to one-twelfth of the yearly taxes and astessrrtents which tray attain priority over this
Motigttge, and gr+otrgd tYntt oa the Pt~operty, if .any, plus one-twelfth of yearly pretnittm irtstalhtnettts for hazaed inwrance,
pltt: one-twdith of yearly premium installments for mortgage insurance, if any, alt as reasonably estimated initially and from
~ttitt+te to time by Leader oa the basis of assessments and hills and reasonable estimates thereof.
'ILe fintd: shall be htdd in an institution the deposits or accounts of which are insured or guaranteed by a Federal of
state agency (including I.gttder if Leader is such an institutionl. Lender :ball apply the Funds to pay said taxes. assessments.
insurance premiums and ground rents. Lender tray not charge for so holding and applying the Fends, analyzing said account.
or veritying.and compiling said assessments and bills, unless Lender pays Borrower interest on the Futtds and appliabk law
permits Ltxtder to make such a charge. Borrower soil Lender may :groe in writing at the time of execution of tha
Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
regtrira suds interest to be paid. Leader shall trot be required to pay Borrower any interest or earnings on the Fiends. Lender
shall give to Borrower; without chaggt. an annusl acoottnting of the Funds showing credits and debits to the Funds sad the
purpose for which each debit to the Funds was rttade. The Funds are pledged as additional security for the sums sxured
tble M '
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. assessrrteab. insurance premiums and ground rents. shall exceed the amount required to pay said taxes.
asspaments, inwranoe premiums and ground rents as they tall due, such excess shall be, at Borrower's option, either
promptly repaid to Horeower or credited to -Borrower on monthly installments of Funds. If the amount of the Funds
bdd by Leader-aball not be sttf6cient to pay taxes. assessmatts. insurance ptemiurns attd ground rents ss they. fall due,
Borrower sbaU pay to Leader any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Ltmder to Borrower requesting payment thereof.
Upon payment in full of all suns secured by this 1V~ortgage, Lender shall promptly refund to Borrower any Fund:
held by Lender. If under paragraph 18 hereof the Property is sold or the Propeny t: otherwise at~uired by leader, Lender ,
shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by _
Lender at the time of application as a credit agait>st the sums secured by this Mortgsge. -
3. A~iicatiaa d lsprseMs. Unless applicable law provides otherwise, all payments roceived by Leader under the
Note and paragraphs 1 and 2 hereof shall be appliod_by u?tder first in payment of atnounts,payabk to Lender by Borrower
under paragraph 2 hereof; then to interest payable on the Note, then to the principal of the Note, and then to interest and
_ principal on any Future Advances.
e. Crarga; Lkis. 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 ? _
payee tberoof. Borrower shall promptly furnish to Lender all noticxs of amounts due-under this paragraph, and is 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 t
required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation socur+ed by
sorb lien 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. lElssard Iawra~ce. Borrower-shall kelp the improvetnents now existing or hereafter erected on the Property insured
against loss by fire. hazards included within the term "extended coverage and such other hazards ss Lender may require
sad in such amounts and for such periods az Lender may require; provided. that Lender shall trot require that the amount of
~'i such coverage exceed that amount of coverage required to pay the sums secured Eby this Mortgase.
'!be insurance carrier providing the insurance shall be chosen by Borrower subjoct to approval by Lender. provided,
that such approval shall not be unreasonably withheld. All premiums on insurance policies shill be paid in the maantr
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
inwrattce 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 re:ewals 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 «otice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
by Borrower.
Unless 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 fcazible 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 artd apply the insurance proceeds at Lender's option either to restoration or repair of the Property
or to tl>ie 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 IS hereof the Property is acquired by Lender, all right, title and interest of Borrower
in sad to any Assurance policies and in and to the proceeds thereof resulting from damage to the Property prior to stet sale
or acgtusition shall pass to lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
6. Preservatios sad Maintetwace of Property; ILetsseholds; Condominiutm; Planned U,it Derdopmeats. Borrower
shall keep the Property in good repair and shall not commit yvazte 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 Borrowei
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 condominitun 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 atsd shall amend and suppietnent the covenants and agreements of this Mortgage az if the rider
were a part hereof.
7. Protection 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, 3
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
sores and take such- action az 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 required mortgage insurance as a
cpndition of making the loan secured by this Mortgage. Borrower shall pay the premiums requital to maintain such
insurance in effect until such- rites az the rgyuiremgnt for such insurance terminates in accordance with Borrowers an:1
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