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Unttaw Gbvattexra. lorrower cud Lauder covenant and agree u follows:
>k 1'igtwuM et ltitte+ai tN HNfeM. Borrower shall promptly-pay when des the priacipsl of cud interest on the
indebtedtteat svidettoed by the Note. ptepayttteat and late charges ac provided in the Note, and the principal of and interest ~
oa say Ptrtttnt Advautoe: ttextued by tha Mortgage.
brit itsr 7~sttss arts lttwrfttr.~t. Subject to applicable law ~w to • written waiver by [.ender. Borrower shall pay
to Leader on the day rtnoathly ittualltaenb of principal and interest uc payable under the Note. until the Note is paid in full,
a sttm (bet'ein "Fttads") equal to orts-twelfth of the yearly taz~~ artd assessmenb which may :train priority over this
Mortgage. and ground renb oa the Property, if any. plus one-twelfth of yearly premium installments for htwrd insurance.
plus one-twelfth of yearly premium installments for mortgage inurrarrce, if any, sll ss reasonably estunated initially and from
tirrrs to tuns by Leader oa the bass of assessments and hills and reasonthk estimates thecae[. `
Tlys Fund: shall be held in an institution the deposits or accounb of which ors irrsttted or gwranteed by a Federal oe
teats agency (iachtding Leader if Lender is such an institution). 1_ender shall apply the Funds to pay said taxes. sssasmenb,
insutantoe premiums and ground rents. lender may not charge for sn holding and applying the Fonds, analyzing said account. 3
or verifying.aad compiling said assessments and bilk, unless Lender pays Borrower intetat on the Funds and applicable law {
permib Lender to make such a charge. Borrower sad Lender may agree in writing at the time of execution of this ~
Mortgage that interest on the Funds shat! be paid to Borrower. and unless such agreement is made or applicable law
roquiret stttdt iatetest to be paid. Lender'shall not be required to pay Borrower any interest or earnings on the Funds. Lender
:hail give tD Borrower, without charge. an annual accounting of the Funds showing credib -and debits to the Funds and the
purpoae~or which eadr debit to the Funds was made. The Funds are pledged as additional security for the sums secured
ortgage. fJ
TE the amount a< the Funds held by Lender. together with the future morrihly instsllments of Funds payable prior to
the des dates of taxes. a:sasrrteats. insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
assestnaeats, inwrance pnetaiums and ground calls as they fall due, such excess shall be, at Borrower's option. either ~
Y repaid to Borrower or credited to Borrower on monthly installments of Funds. if the amount of the Funds t
'held by Ltodtr sbaU not be stmt to pay taxes, assessments. insurance pr~etniums and ground rents as they fall due,
Borrower abaU pay to Leader any amount rteoesssry to make up the deficitrrcy within 30 days from the date notice is mailed
by Leader to Botrower.negttesting payment thereof.
Upon payaxat is fuU of aU sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
btdd by Lender. If under paragraph 18 hereof the Property is soW or the Properly rs otherwise acquired by Lender. Lender
shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by
Lender at the time of application as s credit against the :ems secured by this Mortgage. +
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3. A~iicatiant a< iPq>tteals. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragnpbs 1 sad 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof. then to interst payable on the Note, then to the principal of the Note. and then to interest and
principal on any Future Advances.
d. Clargex Elects. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
the Property which may attain s 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 thecae[. Borrower shall promptly furnish to Lender all notices of amouats due under this paragraph, and in the event
Borrower shall make payment directly, Borrower shall promptly furnish to Under receipts evidencing such payments.
Borrower shall promply discharge any lien which has priority over this Mortgage; provided. that Borrower shall not be #
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required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by }
such lira in a manner stxeptsbk to Lender. or shall in good faith contest such lien by, or defend enforcement of such lien ia, I
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. 11
3• iflasrrrd iewralee. 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 haurds as Lender may require I
sad in such amounts and for such nods as Lender ma r uire; rovidod, that Lender shall not !
pe y ey p require that the amount of
such coverage exceed that amount of coverage required to pay the sums secured Eby this Mortgage.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided. ;
that such approval shall not be unreasonably withheld. Alt premiums on inwrattce 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. diteetly to the
inwrance carrier.
All insurance pdicies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
clause in favor of and in form acceptable to Lender. Lender shall have the. right to hold the policies and renewals thereof,
sad 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 procads 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 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 q
or to the wms 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 1 and 2 hereof or change the amount of ~
such installments. If under paragraph 18 hereo[ the Property is acquired by Lender, all right, tick and interest of Borrower
in sad to any Auurance policies and in and to the proceeds thereof rewlting 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. _
Treservatfoo sod Mainfenaace of Property; Leaseholds; Condominiums; Planned Uelt Developatewls. Borrower
:hall keep the Property in good repair and shall not commit yvaste or permit impairment or deterioration of the Property
sod shall comply with the provisions of any lease it 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 i 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 agrcements 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.
Proteetio. of Leader's Security. If Borrov?er fails t~~ 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 invotring a
bankrupt or decedent. then Leader at Lender s option, upon notice to Borrower. may make such appearances, disburse such
sums and take such action as is necessary to protect lenders interest, including. but not limited. toi disbdtsement of
reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mdrtg~g! 'insurance as a
condition of making the loan secured by this Mortgage. Borrower sh.rll pay the premiums required to maintain such
insurance in effect until such time as the reyuiremem for such insurance terminates in accordance with Borrowers and
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