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Untt~oaw CovatuerrTS. Borrower and lender cotenant and agree as follows:
1. lstywesk of ltiaciPal sal IMereaf. Borrower shall promptly pat when due the principal of and interest on the
indebtedness evideaood by the Note. prepayment and late charges as provided in the Note, and the principal of and intereu `
on say Futuro Advattoes secured by this Mortgage.
3. iglttti for '!>tataa srtttt Ittwratace. Subject to applicable law or to. a written waiver by Lender. Borrower shall pay
to Lendt~r on the day monthly installtents of principal and interest are payable under lire Not0. ua?il the Note is paid in full,
a swn (herein "Fuada'~ equal to otratwelRh of the yearly taxes and aasesstnart: which tmay attain priority over this
Mortgage, and ground rent oa the Property, if say, plus pest-twelfth of yearly premium installment for hazard insurance,
plus oaatwelfth of yearly premium installments for mortgage inwrance. i[ any, all as reasonably estimated initiagy and ttom
time to time by Lender on the bass of assessments and bills and reasonable estimates thereof.
The Funds :ball be bald in an institution the deposits or accounts of which sue insured or guaranteed by a Federal or
state sgancy (including Leader if Linder is such an institution). Lerrder:traU apply the Funds to pay said'taxes, assessments,
inwrarrco premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
a verifying and compiling said aasasmrent and bills, unless Lender pays Borrower interest on the Fund: and applicable law
permits Leader to make such a charge. Borrower and Lender may agree in writing at lire time of execution of this
Mortgage th:t iateiest on the Funds :ball be paid to Borrower, and unless such agreement s made or applicable law
requires wch interest to be paid, Lender shall not be required to pay Borrower any interest or earnings oa the Funds. Lender
shall give to Borrower. without charge, an annual accounting of the Funds showing credit and debits to the Funds and the
purpose [or which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
by Ibis Mortgage.
If the amount of tbo Funds held by Leader. together with the future monthly installments of Funds payable prior to
the due dates of taxes, a:seasrneat. insurance premiums and ground rents, shall exceed the amount required to pay said taxes;
assessments. insurance premiums sad ground rents as they fall due. such excess steal! be, at Borrower's option. either
promptly repaid to Borrower or txedited to Borrower on monthly installments of Funds. If the amount of the Funds
hdd by Lender shall not be wtficieat to pay taxes. assessments, insurance premiums and ground rents ss they fall due,
Borrower shall pay to Lender any amount necessary to make up the deficiency wiWin 30 days from the date notice is mailed
by Leer to Borrower requesting Payment thereof.
Upon payment is full of all soma 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 a otherwise acquired by Lender. Lender
:ball apply, no later than immediately prior to the sale of the Property or it: aoquiwtion by Lender, say Funds held by
Larder at the time of application as a credit against the sums secured by this Mortgage. _
3. A~licadoa of la~eab. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 sad 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under panrgraph 2 hereof, then to interest payable on the Notes, then to the principal of the Note, and then to interest and
principal on any Future Advances. 4~.
d• Ctss~ IJeas. Borrower shall pay all taxes, assessments and other charges, fine,:, and impositions attributable to -
the Property which may attain a priority over this Mortgage, and leasehold payments or gruudd rents, if any. in tt~e manner
provided under paragraph 2 hereof or. if not paid in such manner, by Borrower malting payment, when due, directly W the
WYa Borrower shall promptly furnish to Lender aU,aotioa of amount due under this paragppb, astd in the event
- Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
Borrower shall .promptly discharge any liar which has priority over this Mortgage; provided, that Borrower shall not be
.required to discharge any such lien so bng as Borrower shall agree in writing to the payment of the obligation secured by
such lies in a meaner aeoeptabk to Lender, or shall in good faith contest sorb lien by, or defend enforcxment of such lien in,
le8m P~~~ which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
S. Ha>raM Iaaea~ee. Borrower shall keep the improvements now existing or hereafter erected oo the Property insured
against loan by tire, haurda included within the term °extended coverage", and such other hazards as Lender may require
and is such amounts and for such period 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.
The imwrance carrier providing the iasuraaoe shall be chosen by Borrower subject to approval by Lender, provided,
that such approval airaU not be unreasonably withheld. All praniums on inwranoe policies shall 6e paid in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making paymwt, whom due, diret~ly to ttu
iawranoe carrier.
AU insurance policies and rarewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
clause in favor of and in form acxxptabk to Lender. Lenckr shall have the right to hold the policies and renewals thereof,
and Borrower shall promptly furnish to Lewder al! renews) notices and all rtoeipt of paid premiums. In the event of loss,
Borrower shall give prompt notice to the insurance carrier and Lender. Leader may make proof of bas if not made promptly
by Borrower.
Unless Larder 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 economically feasible sad 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 iasuramoe proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
to Borrower. If the Property is abandoned by Borrower, or if Borrower faits to rapond to Lender within 30 days from the
date notice is rnailod by header to Borrower that the insurance carrier offers to settle a claim for insurance benefit, Larder
is suthoriza! to collect and apply ilia iaiuraace proceeds at Leader
s option either to restoration or repair of the Property
or to the sums secured by this Mortgage.
Unless Lender sad Borrower otherwise agnx in writing, any such application of procxeds to principal shall mot extard
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments. If under paragraph l8 hereof the Property is acquired by Leader, all right, title and interest of Borrower
in and to any imuranee pdicies and io and to the proceeds thereof resulting from damage to fire Property prior to the ask
or acquisition shalt pass to Lander to the extent of the sums secured by this Mortgage immediately prior to such sale or
acq»isition.
f. lreaerYatiosr asri Maisdeaaee of Properly; I.ea.erofdr, Coadooilaisira~ lfa..ed Uaiitt Devdopoeats. Harrower
shall Peep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
and shall comply wild the proviaiooa of any lease if this Mortgage is on a leasehold. If this Mortgage is oa a unit in a -
condominium or :planned unit development, Borrower shall perform all of Borrower's obligations under the declaration -
or oovaiaats creating or governing the condominium or plaaoed 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 reeordod together with this Mortgage, the covenants and agreements of such rider
shsU be incorporated into sad shall amend and supplement the covenants sad agte«aenta of this Mortgage, as if the rider
were a part hereof.
7, trWectiosi d Ia~der's Seciirity. If Borrower fails to perform the covenants and agreements contained is this
Mortgage, or if say action or proceeding is cornitreooed which materially afi`ect fender's iatatist in the -Property,
including, but not limited to, earinent doarain. insolvency, code enfortxarent, or arrangemtnt or proceedings involving a
bankrupt or dwedart, then Lender at Lender's option, upon notice to -Borrower, may make such appearances, disburse such
sums sad take such sctioa as is necessary to protect Lender`s interest, including, but not limited to, disbursement of
teawnabk attorney's foes and entry upon the Property to make repair. If Lender required mortgage insurance as a
coaditioa of making the ban secured by this Mortgage, Borrower shall pay the premiums required to maintain such
imtuaace in effect until such time as the requirement for such inwrance terminates in acxordanee with Borrower's and
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