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Ut+ttattw Cbvttnat+ts. Bort+owar tud bender covenant and agree ss follows:
1 )nq~tstN at lsiae4al M bltlrael. Borrower shall promptly pay when due the prittclpal of tttd interest on the
ittdebtedttas avidettoed by the Nora, prepaymatt and ble charges as provided in the Note. atKl the principal of and jntelat
oa asy Future: Advattoea secw+ed by this Mortgage.
3, Illri hr 1lsttea tttsi Ittettrtttu~e. Subject to applicable law ~x to a written waiver by Larder, Borroa?at tthap pay
to Lender on the day trtonthly installments of principal and interest arc. payable under the Note. until the Notes a paid in tall.
s shat (herein "Futtds'~ equal to ottatwelfth of the yearly tax~•. and assessments which tray attain priority over this j
Mortgage. sad ground r!enb oa the Property. it any. plus otte-twelfth d yearili pranitsm installmenb for hazard ittsurattce, ,
plus ottatwelfth of yearly pt+emitgtt ittstalltttents for mortgage ittutrattcc, if any. all as reasonably estimated initially and from
time to limo by Lender oa the basis of assessments and hills and rcssonabk estimates thereo/. `
The Puttds shall ba beW in an institution the deposits or accounts of which arc itattred a guaranteed by a Federal of
dale agettwy (including Lender if Lender is such an institution). Lender shall apply the Funds to pay :aid lazes. assastrtents. i
inwranoa premiums and ground rents. Lender may not charge for :n holding and applying the Funds, analyzing said accoune.
or varitying-and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
permib Lender to make Bch a charge. Borrower sad Lender may agree in writing at the tune of execution oI this
Mortgage that interest on the Fwtds shall be paid to Borrower. and unless such agreement is made or applicable law ,
roquites such interest to be paid. Lender shall not be requirod to pay Borrower any intertat or mornings on the Funds. Lender
sbsll give b Borrower, without ebarge, an annwl accounting of the Funds showing credib and debits to the Funds and the
purpose for which each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
by this 1Kortiage• -
u the amount o[ the Funds bead by Lender. together with the future monthly installments of Funds payable prior to
the dots dates of ts><es. assessmenb, inwrantx premiums and ground rents, shall exceed the amount required to pay said taxes.
atsessmeab, insurance premiumm and ground tents as they tall due. such excess shall be. at Borrower's option. either
promptly repaid to Borrower or credited to Bon+ower on monthly installments of Funds.- If the amount of the Fund:
bNd by Leader-:ball trot be sul6cieat to pay taxes. assessments. insurance praaiutns and ground rents as they fall due,
Borrower sbaQ pay to Larder any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Deader to Borrower regttatit?g payment thereof.
Upon payment is fttU of ap sums secured by this Mortgage. Lender shall promptly rcfutsd to Borrower any Funds
btdd by Lender. If under paragraph 18 hereof the Property n sold or the Propeny u otherwise acquired by Lender, Lender
sbsll apply, no later tbsn immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by
Lender at the time of application as a credit against the sums secured by this Mortgage.
3. A~iieatiga at lsp~aacab. Unless applicable law provides othervvise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof. rhea to iate[est payable on the Note, then to the principal of the Note. and then to interest and
principal on any Future Advances.
1. Charged IUetu. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
the Property which tray attain a priority over this Mortgage. and leasehold payments or ground rents, if 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 ibetteof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
Borrower shall rrttake 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
required to discharge any such lien so brag as Borrower shall agree in writing to the payment of ibe obligation secured by
such lien in a manner aoeeptabk to Lender, or shall in good faith contest such lien by, 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. Hasard Ittssra~ce. Borrower shall keep 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 nods as Lender ma wire: rovided, that Lender shall not t
pe ' y req p require that the amount of
such coverage exceed that amount of coverage required to pay the sums secured Eby this Mortgage.
1be insurance carrier providing the insurance shall be chosen by Borrower subject to approval by_ Lender. provided.
that such approval shalt not be unreasonably withheld. All premiums on insurance policies shall be paid in roc manner
provided under paragraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due, directly to•the
inwraace carrier.
. Allinsurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
'cliuse in favor of and in form ~ceptabk to Lsnder. Lender shall have the right to hold the policies and renewals thereof,
arsd Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
Borrowu 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 dherwise 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 stxurity of this Mortgage would
be impaired, the insurance proceeds shelf be applied to the sums secured by this Mortgage, with the excess. if any, prod ~
to Borrower. If the Property is abandoned by Borrower! or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by Lender 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
of 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 18 Iterrnf the Property is acquired by Lender, all right. title and interest of Borrower
in and to any Assurance policies and in and to the proceeds thereof resulting from damage to the Property prior to th.: sale
or acquisition shall pass to lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
f. trescrvatioo and Maintenance of Properly; Leasclsolds; Condominiums; Pbnncd Utah Derebptnents. Borrower
shall ketp the Property in good repair and shall not commit yvaste or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease if this Mortgage 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 develoimsent, and constituent documents. If a condominium or planned unit development
rider is executed by Borrower and recorded together v?ith 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 hereof.
Protection of I.eoder's Security. If Borrower (ails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
including, but not limited to, eminent domain. insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then Lender at Lender's 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, disbw~ement of
reasonable attorney's tees and entry upon the Property to make repairs. It I_cnder regnircd mort$agC _ilssur'ance as a ~
condition of making the ban secured by this Mortgage. Borrower sh.rll pay the premiums requited to maintain such
. insurance in effect until such time as the requirement for wch msuran:e termrnates in accordance with Borrowers and ~ j
' Boa ~7 PacE
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