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UNtrottw Covtu+st+ts. Bomower and Lender oovatant and agree as tdbws:
Tq¦wM et ltiee~l tttsi 1taNreM. Borrower shall promptly pay when due the principal of and interest on the
indebtedrteas evidenced by the Note. prepayment and late charges as provided in the Note. and the principal of and intstest
as soy Futtrre Advance: second by this Mortgage.
3. ltiitais /er 7yttee aid Iasrrrsee. Stirbject to applicable law ~x to a written waiver by Lender, Borrower shall pay
to Leader oa the day monthly installttxnts of principal and interest ~rc payable under the Note. until the Note is paid in full.
a sum (herein "Fuads'y equal to ona-twelfth of the yearl~• tax~~ and auessments which may attain priority over this
Mortgage, and ground carts oa the Property, it any. plus ate-twelfth of yearly premium installments for hazard insurance,
plus one-twdith of yearly premium installments for mortgage instirancc, if any, all as reasonably estimated initially and from
time to time by Larder oa the basis of assessments and hills and reasonable estimates thereof.
The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal of
state agency (including Lender it Lender is such an institution). Lender shall apply the Funds to pay uid rues, assessments,
iruutanoe premiums and gcoutd rents. lender may nor charge for so holding and applying the Funds. analyzing said account.
or verifying~rtd compiling said sssessments and bilk. unku Lender pays Borrower interest on the Funds.and applicable law
permits Lander to make such a charge. Borrower atxl Lender may agree in writing at the time of execution at this
Mortgage that interest on the Funds shall be paid to Borrower. and unku such agreement a made or appligbk law
requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
shall give to Borrower, witlwut charge, 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 arc pledged as additional security for the sums secured
by this Mortgage.
Tf the amount o~f the Funds held by Lender, together with the future monthly installments of Funds payable prior to
the due dates of taxes. assessments, insurance premiums and ground rents, shall exceed the amount required to pay uid rues,
aaagtrents, iasunttce pr+emittms and ground rents as they fall due. such excess shat! be. at Borrower's option, either
promptly repaid to Borrower a credited to eorrowu on monthly installments of Funds. If the amount of the funds
held by Leader-shall cot be urtlicieat to pay taxes. assessrents. insurance premiums and ground rents as they fall due,
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Leader to Borrower requesting payment thereof.
Upon payment in tuU of all luau secured by this Mortgage, tender shall promptly refund to Borrower any Funds
held by Lender. If under paragraph 18 hereof the Property is sold or the Property uj otherwise acquired by Lender. Lender
shag apply, rte later than immedrately prior to the sale of the Property or its acquisition by Lender. any Funds held by •
I.eoder at the time of application az a credit against the sums secured by this Mortgage.
3. A~licatkn of Ihp~atents. Unless applicable law provides otherwise, all payments received by Lender under the
Note sad paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof. then to interest payable on the Note, then to the principal of the Note, and then to interest and
principal on any Future Advances. -
1. Cdrges: Lkns. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
the Property which may attain a 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 thereof. 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 dtscharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
required to discharge any such lien so brag as $orrower shall agree in writing Io 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 lien ia,
legal praeedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
S. Hrmrd Iawranee. 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 ss 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 rnverage required to pay the sums secured by this Mortgage.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided.
i that such approval shall not be unreasonably withheld. All premiurs on insurance policies shall be paid in the manner
i provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
insurance carrier.
All insurance policies 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,
~ and Borrower shall promptly furnish to Lender ail 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 makt proof of loss if not made psompdy
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. It such restoration or repair is not economically feasible or if the security of this Mortgage would
be impaired, the insurance proceeds shall be applies[ 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, Ixnder
is authorized to collect and apply the insurance procxeds 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 doe date of the monthly installments referred to in paragraphs I and 2 hereof or change .the amount of
such installrrrots. If under paragraph 18 hereof the Pro ferry is acquired by [,ender, all right. title and interest of Borrower
in and to any Insurance policies and in and to the procceds thereof resulting from damage to the Property prior to the sale
or acgtisition shall pass to Lender to the extent ~f the sums secured by this Mortgage immediately prior to such sale or
acquisition.
6. Preservation sod' Mainteruutce of Property; Leaseholds; Condomiaiums; Phoned Unit Ikveloptnents. Borrower
~ shall keep the Property in good repair and shall not comrvit Waste or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease if this Mortgage is on a leasehold. ~f this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrowers 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. It 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 herwf.
7. Protectan of Lender's Seetrrlty. If Borrower tails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced vehich materially affects Lender's interest in the Property, t
including, but not limited to, eminent domain, insolvency, rode enforcemem, or arrangements or proceedings involving a
bankrupt or decedent. then Lender at l.encler'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 to, disbursement of
reasonable attorney's tees and entry upon the Property to make repairs. If 1_ender reyuired mortgage insurance as a t
condition of making the loan secured by this Mortgage. Born~wer shall pay the premiums required io maintain such
insurance in effect until such time as the rcyuirement for such insurance terminates m accordance with Borrowers and '
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