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Urrteatw oo~nstretrss. >tort~owar sad Lsadsr coweant and apes as follows:
~ Ttlistwwt of FtieMt ttsttt Yeretsf. Borrorwr shall prorttptly pay when dos tM ptMdpd of sad iatsrvat oa the
isdsblsdnsss svideao.d bIr ua Notsr prspayttasrtt tend lea chatgcs as pro+rwad in the .Nola. and ties prittci,al of total intoreat
a ahr Puaw A~raaoea aecnr+.d Oy dries Maytye. .
a. IlYtgi iat? ~ atM iaare.aee. sttb~t a apppeaMe aw ex to a wtrigat waiver by Leutda. Bon+ater shall pal
a Leader esr the day aeoetAllrittatapasertb qt ptiat~al and interest are.paytlbls under tits Hots. uttRp tM Nora is paid iA full.
a suss (Marsia "Fands'~ egwl eo otta~twsltM of the yesrty taxess and aaaeatsna which tttay ttetaia priority over Ibis
litort~ya. and gt~ott~d twNt oa the Pt~opsrty, it atty. phis one-twelfth of ysaelt~ pramiuta Mw~ab for hrwud iawranoa.
pWs oaa~twdtth erf yairly prersittta ittaWhttptts for roortgads ictwrareos. if asy, ap as nasotrabiy etstitaatad ittitiapy aetd iron
tints to Hass blr i~sodar oa the basis of asa~ssment: sad hilb apd reasonatbk atimsta tbenof.
The shop be hsW is as institution the eMpaiu err tooouab eN mAidt are irtntted of by a Federal e>t
stall agency (including IBredsr if Leteder is s4~ as institution).. Leader shall apply the Plods to pay said taxes. tgtassrreeab,
hssttraaos prsnshprts and /roald rents. Lentder may not edtarge for so holding and e,pplying the Fends, analysing said acoouctt.
a vetttifyitt?g,atM compiling said tessesscreetels< and bilb, unless Lsader pays Borrower iretstest oa the Funds and applipbN law
pemaits Irsnder to rooks sudt a clairge. Borrower and Lender may ag?ea is wtitiag at the time e>< execution of this
Mextpp flat interest oa the Pond: doll be. paid to 8orr+owa, std uttlas such agtroatlMt h made a applicsbN law
tegnie+ss weh iaNeek to be paid, Lender doll not bee required to pay Borrower any inlerat a earnings ore the Futte#s. Calder
dap gives to Borrower, withotu edtarge. an annual aooounting e>E the Ftmd: showing crodies and dt~its; eo ttte Fund: and the
purpose for which eadt debit to the Funds was roads. The Funds are pledged as stiditiesrtal setauity for the sums secured
b'l? ~ M•
TE tbs aaaotatt of the Ftmds held b+y Lattda, together with tla futures monthly ictsWlaieats of Funds payable prior to
the duo dates esf fasces, asleumtab. iaatranoe premiums and ground rents, slap exceed. the amount required to pay said taxes.
arsessmeats, iostuaaoe pr+aa~ and ground rents as they tall due, such excess shag be. at BorroMrer's option. either
pr~oaepdy rgiaid to Har+owar err exedited to Borrnwar eats monthly installment: of Funds. If the anwtwtt est the Funds
httid by Leodsr~ltaq not ba st>Alcieot to pay taxes, aae::menu. irattraaoe praaiums and gt+ourd retNS as they fall due,
Bortosreer sbW pay tD Lender any amount aeoaary to mate up the etdicieacy within 30 days from the date notice is mailed
by header b Bort+owsr rsgvesting payateM tba~eof.
Upon payraeot in Wp es# all sums secured by the Mortgage, leader tthap promptly refund to Borrower any Funds
htsld 67? L~eadar. if tasdec paragrsph 18 hereof the Property is sold or the Property a otherwise acquired by Lender. Leader
shag apply. no later than immediately prior to the. sale esf the Property or its aogtrisition by Lender, say Funds held bti
Letoder at the time of application m a credit against the somas secured by this Mortgage.
3. AggYeafiaa eft Irrpretsertls. Unless applicable law provides otltenvise, all paymenb received by Lender under the
Notts sad paragraphs 1 and 2 hereof shall be applied by Leader first in payment of amounts payable to Lender by Borrower
undo pats~graph 2 hereof, then to interest payable oa the Note, then to the principal of the Note. and then to interest and
priadpal oa soy Future Advaatxs.
d. Georges; Ije:ss. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
the Pcoptsrty which may attain a priority over this Mortgage, and leasehold payments or ground cents. if any. is the manner
gwided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, wbeae due, directly to the
payee thesnsof. Borrower shall promptly fuunish to Leader all notices of amounts due under this paragraph, and is the event
Borrower shall make payment diroctly. Borrower shag promptly furnish to Lender receipts evidencing such payments.
Borrower chap promptly discharge any lien which has priority over this Mortgage: provided, that Borrower shag sot be~
required to eiischtsrge any such lien so brag as Borrower shall agree in writing to the payment of the obligation secured by
sttc6 Ilea in a maauer acceptable to Leader. or shall in good faith contest such lien by, or ekfend extforeanent of such lien in,
legal proceedings which operate to prsveat the enforcement of the lien or forfeiture of tots Property or say part thereof.
S. >Efasaeei Irsssteaaee. Borrower shall keep the improvements now existing or hereafter erected oa the Property iawrod
against loss by fire, hazards ittcletded within the term "extended coverage'`. and such other hsztscds as Lender may require
and is serch 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 required to pay the sums sescured Eby this Mortgage.
The inwraatx carrier providing the insurance shall be chosen by Borrower subject to approval by Linder. provided,
that such spproval shall not be unreasonably withheld. All premiums on insurance pdieties shall be paid in the manner
provided under parsgraph 2 hereof or, if not paid is such manner, by Borrower making payment. when due, dirtstxly to the
iawrance carrier.
All insurance policies sad renewals thereof shall be in form acceptable to Lender and shall incletde a standard mortgage
clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies sad renewals thereof.
sad Borrower shall promptly furnish to Leader all renewal rtotitxs and all rexxigs of paid premiums. to the event of loss,
Borrower shall give prompt notice to the insuranex carrier and Lender. Lender may make proof of loos if not made promgly
by Borrower.
Unless Lender sad Borrower otherwise agree in writing, insurance proceeds shall be applied to ratoration or repair of
E the Property damaged. provided such restoration or repair is economicagy feasible and the security of this Mortgage is
not thereby iropair+ed. If such restoration or repair is not economically fe;asibk or if the security of this Mortgage would
be impaired, the insurance proceeds shall fie applied to the sums sexured by this Mortgage. with the excess, if say. paid
to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Leader within 30 days from the
date notice is mailed by Leader to Borrower that the ituurance carrier otters to settle a claim for inwrance benefits. Lender
is authorized to collect and apply the insurance proceeds at Lender's ogioa either to restoration or repair of the Property
or to the sums sexured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend
or pogpoae the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
such it>:tallmeots. If under paragraph 18 hereof the Property is acquired by Leader, all right, title and interest of Borrower
in sad to say hswranoe 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
f. lreservstion stet Maiatcaaoce of Property; Leaseholds; Cotioeeeieeietree+:; Platted Utit Drvelopmesus. Borrower
shall keep the Property in good repair and shall sot commit yvaste or permit impairment or deterioration of the Property
sad shall comply weth the provisions of any lease if this Mortgage is on a leasehold. if this Mortgage is on a unit in a
coadoatiaium or a planatd unit development, Borrower shall perform all of Borrower's obligations under the declaration
or covenants crcatiag or governing the condominium or planned unit devlebpment, the by-laws and mgulatiotss of the
condominium or planned unit development. and constituent documents. If a condominium or planned unit development
ridtx is executed by Borrower and recorded together with this Mortgage, the covenants and agrexments of such rider
dsall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
were a part hereof.
7. Prstectbn esf Letder's Sectttity. If Borrower fails to perform the e~vtxtants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materWly affexts Lenderi interest in the Property.
including. but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
booking or decedent, then Lender at Leader's ogion, upon notice to Borrower, may neake such appearances, disburse such
sums and take such action as is necessary to protect Lenders interext. including, but not limited to. disbursement of
reasonable attorney's tees and entry upon the Properly to make repairs. If Lender required mortgage insurance as a
condition of making the loan sexural by this Mortgage, Borrower shall pay the premiums required to maintain such
itiwrartce in eBect until such time as the requiremen! for such insurance terminates in accordance with Borrower's and
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