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UNttrattw COVEt+~trrs. Borrower sad (,coder covenant and apse as fdbws:
L lh~sat of ttttttt falenst. Borrower shall promptly pay when due the priacipal at and iwbre! ae the
iadebbd~eeet erideaoed by the Nob. prepayskot aced Tate charges as provided in the Nob, aced t4 principal d aced irweresot
as gay Fttttsre Adraaces tiecured by this Martaage.
Z. U1t¦is flu 7~aa east Iaw~aece. ~ b ttppticabk law or b a written waiter by Leader. Botrawer tiAaB pay
b Ltader oa the day moatlsly iastslpnents of principal and itstertat ate payable under the Nab. ustts~ the Note is paid is tut.
s solos (hcreia "Fuads'ti equal b oartweNth of the yeariY tax« and assertrtteats which ttasy attain priority cites this
MortgtBe, earl g~ rent as ehe Property, if say. Flue one-twelfth at yeati~ preatittaa iwtitaRmeats for hattard irrp.attioe,
plus aoc-twelfth of yearly premuum iastalhuents for atortp~e irt~tranoe, it say, aN as reasoaaWy estimated iaitiaMy aed trofi
time b lima by Ltesder as the basis of assessments aced hills and reasonable estiaata thereof.
'Ibe Fund: tihaq be held in as institution the deposia a accounts of wltidt ors irtsttrted a auararMeed by a Federal atr
stab agency (iachrding Letr?der if Fender is such an institutionl. I~rrder shall appi~r the Funds b pay said taus, assamterres.
issuraaoa preanittrsts earl paMSd rents. Lender may swt clrarae for sn holding and applyitra the Ftrtds. aoalyiirtg said acootriN.
a rerifying.and oo~mpilioa said assessments and bills, unless Lender pays Borrower interest as the Funds sad applicable lacer •
pernrib Leader to make such a chute. Borrower and Lender may epee is writiaa at the time of exectstiow of this
ltortpge that iatetest oa the Funds shall be paid to Borrower, and unless such apeaaent is made a apptiabte law?
r+egitites wch interest b bt paid. Leader shall not be required to pay Borrower any interest a eartsiags oa the Funds. tender
shalt pre b Borrower, witboW drarte, an annual stxxtunting of the Funds showing credits and debits b the Funds and the
purpae [or which esdt debit to the Funds was made 'ibe Funds ate pledged as sdditiorsal stxauiry Ea the sums secured
by this Mortgsye.
If the amaau of the Funds hdd by I.ender, together with the future owathty ieatalLas~ of Funds payable prior to
the due dates of cues, assesstrrena, istsuranoe premiums and groutd rents, shah exoteed the arootsrtt required b pay said taus,
agpssseats, ioarraaot premiums and hound rents u they fall due, such excess shag be, at Borrower's option, either
promptly repaid b Borrower a uedited b Borrower ors monthly installatasts of Funds. If the amount of the Funds
htdd by Leader shag not be std6cieat to pay toes, messraatts, inwranoe pretmiums and around rents as they fall due,
Borrower shall pay b Leader any amount necessary to m lice up the deficiency within 30 days from the dale notice is mailod
6~ Ltwder b Borrower requestiaa payment thereof.
Upoa payttaeat in fuB of all soon secured by this Mortgage. Leodcr shall pramptty retold to Borrower any Funds
btdd by Lender. If under patapap6 18 hereof the Property is sob a the Property a otherwise acquired by Lender, tender
shall apply. no Islet than immediately prior to the sale of the Property or its acquisition by Ltxsder; goy Funds hdd by
Leader at the time of application as a cs+edit saainst the sutras secured by this Mortgage.
3. Applicaaiaa at lrgmealti. Unless applicable law provides otherwise, all payraertts received by Leader under the ~
Note sod paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hertoof, then to interest payable on the Note, then to the prinapal of the Note, and then to interest and
principal on guy Future Advances.
1.- Llaraa~ Litws. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to ~
the Property whicA may attain a priority over this Mortgage. and kasthold payments or around rtxrts, if any. is the manner s
prorided under puaaraph 2 hereof or, if not paid in wch manner, by Borrower malting payment, when due, directly to the
payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this par>Apaph, astd m. the event
Sarrowrer shall make paymrnt directly, Borrower shall promptly furnish to Lender receipts erideacina suds payments.
Borrower shall promptly discharge any lien which tan priority over this Mortgsge: provided. that Botmwer slsaB not be
required to discharge any wch lien so long as Borrower shall ague in writing to the payment of the obligation scanted by
such lien is a manner acceptable to Lender, or shall in good faith contest wch lien by, or defend enfortxosertt of such lien iq
legal proceedings which operate to prevent the enforcement of the lien or fosfaturc of the Property a any part thereof_
S. !serail Irrsaraaee. Borrower shall keep the improvements now existing or hereafter crated oa the Property insured
agaimt loss by fire, hazuds included within the term °extended coverage", and such other harards as Lender may stquite
and in such amounts :nd [a 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 wens secuttd by this Mortgage~
The inwrance carrier providing the insuuanee shall be chosen by Borrower wbject to approval by tender, povided,
that suds approval shall not be uorcasonably withheld- All prtrrtiunts on inwnnoe pdicia shall be paid in the roamer
provided under puagraph 2 hereof or, if rat paid in such manner, by Borrower snaking payment, when due, directly to the
insurance carrier.
E AU insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
G clause in favor of and in form acceptable to Lender. Lender shall have the tight to hold the pdicies and ttoewas thereof,
! and Borrower shall promptly furnish to Lender alt renewal notices and all receipts of paid premiums in the event of loss,
i 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, inwrarice proceeds shall be applied to rcsloradorr or repair of
the Property damaged, provided such restoration or repair is a-oramically feasible and the security of this Mortgage K
not thereby impaired. if such restoration or repair is not economically feasible or if the security of this Mortgage would
~ bt impaired, the insurance proceeds shall be applied to the swats secured by this Mortgage, with the excess, if any, paid
to Borrowcr_ If the Property is abandoned by Borrower, or it Borrawu fails to respond to Lender within 30 days from the
date notice is marled by Lender to Borrower that the irtstirarsce carrier offers to settle a claim for irtsuranoe benefits, Lender
is authorixod to collect and apply the insurance proceeds at Lender's option eitlxr to restoration or repair of tht Property
or to the sums scoured by this Mortgage-
e Unless Lender and Borrower otherwise egret in writing, any such application of proceeds to principal shall not extend
a postpone the due date of the monthly eistallments referred to in paragraphs 1 and 2 hereof or chassae the amount of
such installments- If under paragraph t8 hereof the Property is acquired by Lender, all right, title and inttrtst of Borrower
in and to any 11'isurance policies and in and to the proceeds thereof rewlung from damage to the Pro
or lion shall to Lender to the extent of the sums secursd b • This Af PMy Pry to t!1< sale
aoquw P~ y ortgage immediately poor to suds sale or
acquisition.
f. lreservstioa and ~IaiNeaaace of Property: teasctsolds. Cowdomiais~ Manned Unit Deselopmeats. BorrowYr
shall keep the Property in good repair and shall rat commit yraste or permit impairment or dattioratioo of the Property
and shall comply with the provisions of any least if this Mortgage is on a leasehold. If this Mortgage a on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrowers obligations under the doduation
a covenants creating or governing the condominium or planned unit devebprnent, the by-laws gad regtilatiixrs of the
condominium or planned unit development. and constituent documents. tf a condorniniwn or planned unit dt:vek+prnent
ride is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider f
t shall be incorporated into and shall atnerd and supplement the rnsenants aid agreements of this Mortgate as if the ri.kr i
were a part hereof. ~
7. Prrtectioa of Leaders Secarlry. If Borrower fails to perform the covenants artd agreements contained in this
'i. Mortgage, or if any action or proceeding n cnmmeri<-ed wfiich materially affects Lender's interest in the Property.
including. but not limited to, eminent domain, insohenc~, code en(orcetncnt. or arsangetnents or proceedings invoking a
banknip or decedent, than Lender at Leader's option, upon notice to Borrower, map make such appurarrces, disburse such
wens and take such action as is necessary to pr~Nect Lender's interest, including. but not limned to, disburserrxrit of
reasonable attorney's tees and entry up.ui the Property to make repairs. If !-ender rcquircd mortgage insurance as a
condition of making the loan secure) by this Mortgage. Borrower shall pay the premiums requital to maintain such
insurance in effect anal such time as the rcyuiretnent for such mwrance terminates m accordance with Borrowers and
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