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- Uktroatt Oovtitotan'ts. flforrorlroc and Linder coMatu~' and agroe as follows:
fi. l~gmaot at ltefi¦e~l errtl 6tlssest. Borrower :htr.l promptly par whess due the principal of and fatee+est ran tM
indebtetlt~sa evideaood by the Note. prepayrtreat and late charged as provided in tlrr Nota. surd the principal of and intatwt
oa soy Frxtue Advances secttrod by this Mortgage.
to Lettderlon~the dayy mgetsai lbssteraKw 9ubjec't to applicable law tx~ written waiver by Linder, Borroe+?atp~ pay
hly ittstslUrrettts of ncipzl a,:d intcrrst are. wider the Note, uatil the Note is to full.
a steal (hgrirt "Funds'ti equal to Otte-twelfth of the yearly eax~~ and assessmaas which may attain priority over this ,
Mortgage. and growtd rents oa t4e Property. if any. plus one-twelfth of yearhi premium insWMtents for hazard inwrana.
plus nits-twdith of yearly prttrtium installments ttx tttortgage itt:<rrarxe, it any. all u reasonably estimated initially and fear F
limo to time by Leader oa the basis of assessrrtents sad hills and reasonable estimates thereof. _
The Funds shall be haW in an institution the deposiu or atacotr;~ts of which aro irtsurex! or guaranteed by a Federal of
state aaenry (including Lender if Lender a such an institution), Lemdar shag apply the Ftitttds to pay said taxes. assesintaNS.
iawnttce premiums and ground rents, l_errder may not charge far w holding and applying the Funds. snalyzing said account.
or vaifyittg.atd compiling said assessmena -and bills, unless Lender pays Borrowsr interest an the Funds and appligbk law
permits Deader to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
Moetgtae that interest on the Funds shall be paid to Borrower, and uakss such agteematt is made or applicable law ,
roquites such iatete:st to be psud, Linder shall rte; be requir+td to pay Borrower :ray intet+sst or eareings an fire Funds. Lender
shall give to Borrower, without charade, an annwf accounting of rite Funds showing credits and debits to the Funds sad the - _
purptrae for which tact dtk+it to the Funds was-made, '1La Funds are plodded as additional -security for the wins securod
by title Mortgage. ~ .
Tf the atmount of the Futtds held by Lerrdt:r, togdher with the future monthly irstsllmtents of Funds payable prior to
the due dates of taxss, assessments, insurance pamiums_and ground rents. shall exceed the amount requited to pay said taxes.
atamsmeats. insurance premiums and ground teats as they- tall due. such excess shall be. at Borrovrer's option. tithe
groeoptly repaid to Boct+ower or credited to Borrower net-monthly installments of Funds. if the amount of the Funds
bald by Leader shall not be sut6ciestt to pay taxes. assessrnarts. insurance premiums and around rents as they fall due, _ _
Bott+oerer shall pay to Leader any amount necessary to make up the deficiency within 30 days from the daft notice is msiled
by Leader tD Borrower regerating payment thereof. `
Upoa payment in fuq of all auaas secured by this Mortgage. Leader shalt promptly refund to Borrower any- Funds
hdd by Letrder. If undo paragraph 18 hereof the Property is sold or the Property s otherwise acquired by Lender. Lender
:hall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by -
Linder at the time of application a: a credit against the sums secured by this Mortgage.
- 3. A~ieatioa of tryrmeals. Unless appaicable law provides otherwise. all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof, then to interest payable on the Note, them to the principal of the Note, and then to interest and ;
principal on any Future Adyatiees. ~ -
h Craeaes; Liests. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable- to
the ?`-~rty which may attain a priority over this Mortgage. acrd leasehold payments of ground rents, if any. in the manner
pt+avided tinder 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 ratites of amounts-due under this paragrspi;. sod fn the event
Borrotirer shall make payment directly. Borrower shalt promptly furnish to Lender receipts evidencrrrg such payments.
Borrower shall promptly discharge any lien which has priority over this Mortgage: prov;ded. 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
sttc6 lien in a manner acceptable to Lender. or shall in good faith contest s•,rch lien by. or defend enforcenxnt of such lien im,
kgal proceedings which operate to prevent lire enforcement of the lien or forfeiture of the Property or any pan thereof.
S. Hazard Iaasraree. Borrower shall keep the improvements now existing or hereafter erYCted on the Propcny insured -
against lass by file. hazards included within the Perm "extended coverage'. and such other haurds as Lender may require-
aaf in such amounts and for such periods as Lender may require: provided, that Lender shall not require that the amaint of
such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
- 'ibe inurrance carrier providing the insurance shall be chosen by $orro~+ver subject to approval by Lender, provickd,
the! such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, when due, direexly to the .
iawraact 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,
and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. in the event of lass,
Borrower shall give prompt notice to the insurance carrier and Lender. Larder may make proof of loss if not made promptly -
by Borrower. ' - _
Unless Lenrkr 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 economi:ally [easibfe 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 is abandoned by Borrower, or if Borrower fain to respond to Lender within 30 days from the
date notice is mailed by Leader to Borrower that the itsrrrance carrier offers to settle a claim for insurance benefits, Lender
is autftorized to collect and apply the insurance procceds at Lender's option either to restoration or reps"v of the Property
or to [he wins secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall rent extend
or postpone: the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such irutattmeAts. [f under paragraph 18 hereof the ProE,eny is acquired by Lender, all right, tick 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 tfrc sale
or acquisition shall pass to Lender t_o 3he extent of the sums steered by this Mortgage immec:iatety prior to such sale or
acquisition.
- f. lf'reservatiois and Ma®tcmanct of Property; Leasef?ofds; Condominiums; Pfamued Ursit Devebpeoeets. Borrower -
shall keep the Property in good repair and sh:Jl not comrgit yvaste or per'atit impairment or deterioration of the Properly
and shall comply with the provisions of any lease if this Mortgage is on a leasehold. It this Mortgage is on a unit in a s
condominium or a planned trait development, Bcrrow-er shall perforr^ li of Borrowers obligations under the declaration
or otsvenants creating or governing the condominium or planned unit development, the by-laws and rcgu:ations 'of -the
condominium or- planned unit development, and constituent documents. If a condominium or planrresl unit development -
rider is executed by Borrower and recorded together with this Mortgage. the covenants and agrcemeats of such rider
shall be incorporated into and shall amend anti supplement the covenants and a8.tements of this 1?fortgage as if the rider _
were a pan hereof. _ -
7. Protection of Lender's 5ecurfty. If BorrOw[r fails to perform the covenants and agrcements co~~tained in this
Mortgage, or if any action or proceeding is commenced which materially affects Lenders interest in the Pmpeny,
including, but not limned to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent. then Lender at f_tndtr's option, upon notice to Borrower, may make such appearances, disburse such
sums and take such action as is necessary to protect -Lender's intertsl, including. but not limited to. disbursement of
reasonable attorney's t~zs and ;,nt:y upon the Property to make repairs. If Lender required mortgage insurance as a
co:>+iition of making the loan secured by thrs Mortgage. Borrower shai! pay the premiums required to maintain such
insurance in eBect until such time u the rrqui:ement for such insurance termrnates in accordance with Borrowers and -