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Uttttrosttrt Oovet+eats. Borrower ar?d Lender covenant and agree u follows:
1 Iis4¦aM et IhlielBal atM 4rNnet. Borrower shall promptly psy when due the principal of attd interest on the
indebtedness evidettood by the Note, prepayttteat and late chsrges ac provided in the Note, and the principal of aid interest
oa any Future Advatnoa sxwted by this Mortgage. t
3. !Ys•is ter 'na:ee tttstl ltrsanttcti. Subject to applicable law ur to a written waiver by Lender, Borrower shall pay .
to Leader on the day monthly installments of principal and intrreq ire payable under the Note, until tlta Note is paid in full,
• suet (herein "Funds'? equal to Otte-twelfth of the yearly taz~~c and asse:srrtents which troy attain priority over this
Mafgage, and grottttd tetra on the Ptoperg?, if any, Flus Otte-twelfth of yearly premium iastalltnents for haurd insurance.
plus one-twelfth of yearly praaium installments for mortgage insurance, if any, all u reasonably estimated initially and from
time to tithe by Leader oa the buffs of assessments and hilts and reasonable estimates thereof.
7Le Funds shall be held in an institution the deposits or accounts of which are irtstsrad or guaranteed by a Federal otr
cute agency (including Leader if Lender is such an institutionl. lender shall apply the Funds to pay said taxes, ttssistrtenb,
iawrattoe premiums and grated rents. Lender may not charge for so holding and applying the Fnrtds, analyzing said account. i
or varifyingsttd compiling uid assessments and bills, unless Lender pays Borrower interesst on the Funds and applicable law
permits Lender to make such a clurges. Borrower and Lender may agree in writing at the tithe of execution of this
Mortgage. that interest on the Funds shall be paid to Borrower, and oaks: such agreement is made or applicable law
roquires such interest to be paid, Lander shall not be resquired to pay Borrow-esr any interest or earnings on the Funds. Lender
shall give to Borrower, without charges, an annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds was made. The Funds are pkdgod as additional security for the sums secured
by the Mortgage.
U the an?ount of the Funds held by Lender, together with the future monthly installmenta of Funds payable prior to
the due dates o[ toes, assessments, inwnrtce premiums and ground rents, shall excced the atrtount required to pay said taxes,
assattmeats. insurance premiums and ground rents as they tall due, such excess shall be, at Borrower's option. either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. if the amount of the Fund:
htdd by Lender shall not be suficieat to pay taxes. aisessrrrenta, insurance premiums and ground rents as they fall due.
Borrower shall pay to Lander any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Leader to Borrower requiting payment thereof. r
Upon paymwt is full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
held by Lender. If undo paragraph 18 hereof the Property is soW or the Property rs otherwise acquired by Lender, Lender
shall apply. rto later than immediately prior to the sale of the Property or its acquisition by lender. any Funds held by
Leader su the time of application as a credit against the sums sxured by this Mortgage.
3. A~licatiotr of Irrlytients. Unless applicable law provides otherwise, all payments received by Lander under the
Note attd paragraphs 1 and 2 hereof shall be applied 6y Lender fast in payment of amounts payable to Lender by Borrower
under paragraph 2 heresof, then to interest payable on the Note, the,: to the principal of the Notes. and then to interest and
pritcipal on any Future Advances.
4. C1?srges; Iijeas. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
the Property which they attain a priority over this Mortgage, and leasehold payments or ground rents, ;f any. in the manner
provided under puagraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due, directly to the
payee tlxreof. Borrower shall promptly furnish 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
regttirod to discharge any such lien so long as Borrower shall ag[ees in writing to the payment of the obligation secured by
such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such Tian in, -
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Aroperty or any part thereof.
S. Illfuard Iawcattce. Borrower shall kcep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage", and such other hazards as 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 exceed that amount of coverage required to pay the sums secured by this Mortgage.
'[be insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided, '
that stub approves! 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. directly to the
insurance carrier. _
Atl insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
clause in favor of and inform 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 loss,
Borrower shall give prompt notice 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 feasible -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 Properly is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from,the
date notice is mailed by Leader to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
is authorized to collect and apply the insurance proceeds at Lender's option 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 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. tf under paragraph I8 hereof the Property is acquired by Lender, all right, title and interest of Borrower
in and to any Insurance 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
acquisition.
6. Ptr+eservatioa and Maintenance of Property; Lesrseholds; Condominiums; Planned Unit Devebptaents. Borrower
shall kcep the Property in good repair and shall not comrpit yvaste or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease if this iNurtgage is on a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrower'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 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
were a part hereo[.
' 7. Frotectioa of Leader's Security. !f Burrower fails t~ perform the covenants and agreements contained in this
Mortgage, or if any action ur proceeding ~s commenced which materially aliects Lender's interest in the Property,
including. but not limited to, eminent domain. insolvency, code enforcement, ur arrangements or proceedings involving a
bankrupt or decedent. then [tender at [.ender i option, upon notice to Borrower, may make such appearances, disburse such
sums and take such action as is necessary to protect Lender's interest, including, but not limited to, disbursement of
reasonable attorney's fees and entry upon the Property to make repairs. If Lender reyuircd mortgage insurance as a
condition of making the Man secured by this Mortgage. Burrower sh.rll pay the premiwns required to maintain such
insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrowers and
g~328 Pa~2844