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UNteoltss C~avaetatrte, liotrowar sad Leader cOwnaM aril agrots as foliorvs:
~ pb~at aE ><slac}ai tttM YarM. Bortow~et shall ptroraprly pay when due thK principal of tutu iatet+eri oa the
irtdebtedaae avtdtrtoad by the Nato, prepayraeat attd lab chargcv as provided in the Nola, aril the prinap~d at turd intttrest !
cep any Future Advances secw~od by this Mortgage. - - ~
ltttntls tar'1lsoosa ttM latswsee. Sltbjea to applicable law-ot to a written waiver by Lender, Borrower snap pay
so Lander on the day tnonthlp ittsWhuents of principal and ituarca at+e. payable under the Note. urdil the Note le paid is fop.
a soot A+aroin "Fundsy~equal to outtwelfth of the yearly taxc. and astasaAatts which tray allele priority Duet this
Mortpge, aril grovgd rents oa rite Property. it any. phrs otte-twclhh of yearly preaaiutta iastallntents Ea htwrd irtsttrarta,
plus ottertwelfth at yearly ptemittm iastalltttents;tor mortgage ittuirtuttx, if tuty, all a rstnonably euirttated initially and fr+orq
tiara to titre by Leader oa tiro basis of assessments and hills and reaaotiabk-etitimata thtrwf.
'Ara Ftmds shall be bald in an institution the depoaia or accounts of which rue itattted or gutiraataed by a Fedetsi ar'
stab ag~tey (inchiding Lander if Lender is such an institmionl: Lender shall apply the Ponds b pay said taxes, assessments,
inwranoe praniwrts and ground rears. Lender may not charye for sa holding and applying the Fnrtdt, analyzing said atxount.
a varityint-sad compilias said assessments and bills. unless lerder pays Borrower interest on the Fmtds aril appliabk larr
,permits Lander to make such a charge. Borrower aril lender may agree in wriiins at -the time o[ execution of the
Mortgtys that interest on the Ftmds :ball be paid to Borrower, aril tttiless web ap~eement is made ar applicable taw -
requires sttcb imerat to ha paid. Lender shall not be required to pay Borrawsr any inter~at or tarring: on the Fund:. Lender
:bap gzva to Borrower. without charge, an annual aooottnting of the Funds :bowing credits and debits to the Funds sad the
purpose for which each debit to the Funds was made. The Funds art pledged as additional setatrity for the stuns secured -
by this Mortpge. _
iE the araoeurt o[ thti Ftmds held by Lettdtsr, together with the future tttonthly installments of Funds payable prior to
the dtte data of taxes, assessments, imurattoe premiums attd grou+td rents. shall exceed the amount required to pay stud truce,
aa~stneols. inprratioe pt+emiwra and ground real: as they fall due. such excess shall 6e, at Borro+ver's. option. either ~
promptly repaid to 8ocrower ar credited to Borrower on monthly irtstalhuents of Fuads.- If the atuotutt of the Funds
btiM by Let4der-sbdl act be sutBaeaDt to pay taxes. aratxsrtiatts. ittwrartce premiums and ground rents a they fall dots,
Bamwtr shop pay to Lender any amount aeoessary to make up the deficiency within 30 days from the date notice is mailed
by Letodet >p Borrower regtteatitag payment thereof.
Upon payment is fop of aB stmas secured by this Mortgage, Leader shall promptly refund to Borrower say Funds t
held by Linder. If trader paragraph I8 hereof rile Property is sold or the Property a otherwise acquired by Lendtr, Lender
:ball apply. no later than immediately. prior to the sale of the Property or its acquisition by Lender, say Funds held by
Lander at the tittle of application as a ctedit,tipiiast the twtas stxttred by this Mortgage.
3. Apgiieaeiaa at Iypwteab. Unless il3pl~eabtie law provides otherwise. all paytnerits received by Leader under the
Mott grid paragraphs l and 2 hereof shall be .applied by Lettdet;
~Hist ia: paytt4ent of amounts payable to Lender by Borrower
under paragraph 2 hereof. rhea to interest plt~tadll~tsn,~ti.,er~l~,, tb~tt !9 Elie pfincipal of the Note, and then to interest -and ~
prinapal on say l?uture Advaoas. .s, r~4
~ ~ • tce.e~r -
4. Ciar*es; Liass. Borrower shaft pa~alt 1'axe~; ass~itnts an~otiier cKaiges, fines and impositions attributable to
the which ma :trains -
y y prtOrrty o atid'reiseltbld~payatenti or ground rents, if any, in the manner
provided under paragraph 2 hereof or, if not paid in such manner, 6y Borrower making paymatt. when due. directly to the
payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this Pam. attd in the event -
Borrowet sbaB make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments. _
Borto~rer shall promptly discharge any lien which has priority over this Mortgage; provided. _ thst Borrower shall not be
ra~uirod to discharge any such lien so fang as Borrower shall agree in writing to the payment of the obligation secured by _
such lien in a muiner acceptable to Lender. or shall in good faith rnntest such Lien by, or detatd enfor+eernent of such liar iq .
- legal proceedings which operate to prevent the enforcement of- the lien or -forfeiture of the Property or any pars thereof.
S. Blasard Iaasrarree. Borrower shall keep the improvements now existing or hereafter erected oa the Property inwrod 1
against loss by Ere. hazards included wiWin the term "extended rnverage'. and such other hazards as Lender may require
and is such amounts and for such periods as Lender may require; provided,.that Lender shall not require that tae amount of
sorb coverage exceed that amount of coverage required to pay the wms secured Eby this Mortgage.
The insurance carrier providing the inwrance shall be chosen by Borrower subject to approval by LeriQer, provided.
that such approval shall not be unteasmrably withheld. All premiums on insurance policies shill be paid in the manner
providal under paragraph 2 hereof or. if not paid in such manner, by Borrower making paymeat. what due. directly to the
insurance carrier. .
AU insurance policies and renewals thereof shall be in form arxptabk to Lender and shall include a_standard nwrtgage
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 a!1 receipts of paid prerniurns. In the event of loss.
Borrower steal! give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly - f
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 ecorrotnically feasible aiid the security of this Mortgage is
-not thereby impaired_ It such restoration or repair is not economically feasible or if the security of this Mortgage wotiid - !
be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the exotxa. if any, paid
to Borrower. if the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days tom the
date notice is mailed by Lender to Borrower that the inwrantx carrier offers to settle a claim for inwranae benefits, Lender
is authorized to collect and apply the insurance prooesds at Lender's opion 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 sot extend ~
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the .mount of
such ittstahments. if under paragraph 18 hereof the ProF,esty is acquired by Lender, all right, title and interest of Borrower
in and to any Insurance policies and in and to the prooQods thereof resulting from damage to the Property pr:.-.r to tin: sale
Qr acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to -such sale or i
acquisition. ,
- 6. Prraervatioa sad Ma®tenance of Property; Leascbolds; Cowtloa~tisior~ Planned Unit Detelopweats. Borrower
shall keep the Property in good repair and shall not commit yvaste or permit impairment or deterioration of the. Property - i
and shall comply with the provisions of any kale if this Mortgage is on a leasehold. 1[ this Mortgage is on a unit in a i
condominium or a planned unit development, Borrower shall perform all of Borrowers obligariorts under the declaration t
or covenants creating or go-+erning the condominium or planned unit development, the by-laws ant regulations of the _
condominiwi~ 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
wen a -part hereof.
- 7, Protectio• of Leader's Scctaity, If Borrower fails to perform- the covenants and agreements contained in this
Mortgage. or if any action or proceeding is commenced which materially affects Lenders 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 rake such action as is _rtecessary to protect Lenders interest, including, but not limited to, disbursement of
reasonable attorney's fees and entry upon the Property to make repair. I[ Lender requin:ct r~srtgage insurance as a
condition of making the loan secured by this Mortgage. Borrower shall pay the premiums- rnlirired to maintain wch
insurance in effect until such time as the requirement for st:ch inwrance terminates in accordance with Bornowers and
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