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Ur+trotut CoveN+?rrTS. Borrower and Lender covenant and agree u follows: ,
1. Psytwsnt M PrinciMl tad INereq. Borrower shall promptly pay when due the principal of attd interest on the
indrbtodne:s evidetr~oed by the Note. prepayment and late charges ac provided in the Note, and the principal o[ and interest
on any Future Advutces secured by this Mortgage. .
2. Fttnis tote Tatty rind Ittarnee. Subject to applicabk law ar to a written waiver by Lender. Borrower shall pay
to Lender on the day monthly installments of principal and interest air payable under the Note. until the Note is paid in full.
a sum (herein "Fund:") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
Mortgage. and ground rents on the Property, it any. plus one-twelfth of yearly premium installments for hazard insurance.
plus one-twelfth of yearly premium installments for mortgage insurance, if any, all u reasonably estimated initially and from
time to time by Lender on the buts of assessments and hills and reaaonabk estimates thereof.
The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal of
state agency (including Lender if Lender is such an institution). 1_ender shall apply the Funds to pay said lazes, asseuments,
insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds. analyzing raid account.
or vtrifying and compiling said assessments and bills, unleu Lender pays Borrower interest on the Funds and applicable law
permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
Mortgage that interest on the Funds shall be paid to Borrower. and unless such agreertxnt is made or applicable law
requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
shag give to Borrower, without charge, an annual a:.counting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds wu made. The Funds arc pledged u additional security for the sums secured
by this. Mortgage.
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, assessments. insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
asseuments, insurance premiums and ground rents as they- fall due, such excess shall be, at Borrower's option, either
pranptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Lender shall not be strlficient to pay (axes, assessments, insurance premiums and ground rents as they fall due,
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Lender to Borrower requesting payment thereof.
Upon payment in full of all autns secured by this Mortgage, lender shall promptly refund to Borrower any Funds
held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by (.ender, Lender
shall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
Lender aC the tune o[ application u a credit against the sums secured by this Mortgage. .
3. Appiccatioa of Payrtaeats. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applted by lender first in payment of amounts payable 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.
4. Charges; Liens. Borrower shall pay all taxes. assessments and rnhrr 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 thereof. Borrower shall promptly furnrsh to Lender all notices of amounts due under this paragraph, and in 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
rcqutred to discharge any such ben so long as Borrower shall agrer in writing to the payment of the ob6gatiun secured by
such lien in a manner acceptable to Lender, or shall in gaud faith contest such lien hy, 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. Hazard lastrrawee. Borrower shall kcep the impnn•emrnts now existing or hereafter erected on the Property insured -
agairut loss by fire, hazards included within the term "extended coverage". and such other hazards ac Lender 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 eared that amount of coverage required to pay the sums secured •by this Mortgage.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
that such approval shall not tx unreasonably withheld. All prcmtums on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or, if not yard in such manner, by Burrower making payment, when due, directly to the
insurance carrier.
All insurance puhctrs and renewals thereof shall rte in form acceptable to Lender end shall include a standard mortgage
clauu in favor of and in form acceptable to Lender. Linder shall hate the right to hold the policies and renewals thereof.
and Borrower shall promptly furnrsh to Lender all renewal nunces and all receipts of paid premiums. In the event of loss.
Borrower sha(I g?se prompt noose to the insurance earner and lender. I_enJrr may make prtsof of loss if not made promptly
by Burrower
~ Unless Lender and Borrower utherw,sr agrer in writing. insurance pntceeds shall br applied to restoration or repair of
the Property damaged. provided such rrsturauun or repa+r !s rcunumtcally feasible and the security of this Mortgage is
not therebc impaired If such restoratwn ur repair is not iconomicelly feasible or if the security of this Mortgage would
~ be tmpatred. the :assurance proceeds ch31i be applted tin the sums secure.( by this Mortgage. with the excess, if any. paid
to Borrower. It the Pruprrn is ahandoned hs Borrower, or it &srmwer fails to respond to 1_ender within 30 days from the
1 date notice ,s marled by Lender to Borruwrr that the: insurance earner alien to scale a claim for insurance benefits, Lender
is autbonted to cullria and apply the insurance proceeds et Lender's upUun euher to restoration or repair of the Property
ur to the sums secured by this Mortgage
Unless Lender and Borrvwrr utherwisr.agree :n wasting. am such epplicatiun of proceeds to principal shall not ruend
or pustpunC the due date of the monthh instaiimrats referred t„ i? paragraph. t and ? hereof or change the amount of
such installments If under paragraph !K hereof the Property n acywred h} Lender. all right, title and interest of Borrower
in aad to am htsurancr pulrcies and +n and t,~ the proxeeds thereat resulang from damage to the Property prior to the sale
or acywsidun shall pass to Lrndrr ;u the carne of the sums secured by this Mortgage +mmediately prior to such sale or
acquisition.
6. Prttsenation and Maintenance of Property: Leaseholds; ('ondominiums; Planned Lnit tkvelopments. Borrower
shall keep the Property in g~xxf repair and shall nor comtUtt y.aste ur permu ?mpairment or deterioration of the Property
and sties!! comply with the provisions of any lease if thi. ~1+~rtgage is on a leasehold. If this Mortgage is on a amt in a
e condominum yr ~ planned unit development. Burrower shall perform all of Borrowers uFtligaUOns under the declarahun
or covenants crraung or governing the condominwm or planned unit devrlupmrnt. the by-laws and regulations of the
condominium ur planned nr,tt drvelopment..,nd canstiturnt d,x:uments If a condominium or planned amt development
rider is executed by Burruwrr and recorded t~~grthrr w+th thi. Ltortgage. the covenants and agreements of such rider
shall be +ncorpurated +ntu end shall amend end .;3ppirmrnt the covenants and agreements of th,s Mortgage as if the rider
z were a part hereof.
4 7. Protection of Lrnder's•Secutity. If Florr•}•.vrr !,,.Is to prrlo:m the covenants and agreements contained in this
Mortgage. ur if arty action ~•r preti:rrdinK .~rmrr:~r:~c•t ;~h+ch matcrialls afircts 1 ender': interest in the Property.
including. but not I,m,trd to. rm.nrnt dom.un. ir,,ohrncv .udr rn(or~rment. .,r .irr.,n~rmrnts nr pnxredings +nvulving a
bankrupt ur devrdenr. then t ender at ! ender'. option. up.•+t notice to Borrower. mess make such appearances, dishune such
sums and take such avn~~n e, is necr.,arv t., protra Lenders interest. inchiaiing. but net limited tu, disbursement of
reasonahle attumey'•. lee. and entry up.~n the Prnprrr. to make repa+rs It Lender reunited mortgage insurance as a
cundiuon of making the loan .rcnred hs this \t~~rt~eee. Bor~•.•.vrr shall pay the premnnm rry+nrcd Gi maintain such
irs~_ran~e m r!Frvt until ..ivh time eti the reyinr;_rnrnr for .uch ~m,urancr trrmm.ilrv ;r, .,~_.ordancr with Borr,~wer's and
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