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Utatt'ORAt ('OYEtC+N7S. BafflrN'Cr and tender covenant and agr.ti as follows:
Payment of Principal and Interest. Bi)rrlrwrr shall promptly pay when due the principal of and interest utt the
indebtedness evidenced by the Note, prepayment and late charge. as provided in the Note, and the principal of and interest
on any Future Advanrrs secured by this Mortgage.
3. Funds for Taws and lnsurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
to Lender on the dar monthly installments of principal and intc?cct arc payable under the Nutc, until the Nute is paid in full,
a sum (herein "Funds"? equal to unc-twelfth of the yearly taxes and a+cessmcnts which may attain priority aver this
Alortgagc, and ground rents on the Pmperq•, if any, plus unc-twelfth of yearly premium installments fur hazard imurancc,
plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
time to time by Lcndcr on the basis of assessments and hill. and reawnahlc estimates thereof.
The Funds shall he held in an institution the deposit. or arcuunts ul which are insured or guaranteed by a Federal or
state agency 1 including Lcndcr if Lcndcr is such an inst?uuion 1. 1 ender shall apply the Funds to pay .aid taxes, assessments,
insurance premiums and ground rcnt+. tender nr,it' not charge tier so balding and applying the funds.:uiahring said account,
ur verifying and compiling said as+c+snicnts and hill., unless I.rndcr pays Borrower interest on the }=ands and applicable law
permits Lcndcr to make such a charge. Borrower and Lcndcr may agree in writing at the time of execution of this
Mortgage that interest un the Funds shall he paid to &rrruwcr, and unless such agreement is made or applicable law
reyuirrs such interest to tee paid, Lcndcr shall nut Fk rcyuired ur pay Bornrwcr any interest or earning. on the funds. I.cndrr
,hall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the funds and the
purpose for which rich debit to the Funds ++•as made. "f he Funds arc pledged as additional security for the sums secured
by this .liortgagc.
If the amount of the Funds held by Lemlrr, wgrthcr with the future monthly in+t:Jlmcnts of Funds payable prior to
the due dates of taxes, asscssntems, insurance premiums and gnnmd rents, shall e~crrd the amount rryuircd to pay said taxes,
asxssmcnh, insurance premiums and ground rent. as they tall due, wch excrs shill br, at Borrower's option, tither
promptly repaid to Borro++•er or credited to Burrower un monthly installments of funds. If the amount of the f=unds
held by l.cndrr shall nut be sufficient to pay fasts, assessments, imuranre prrmnims and ground rents as they fall due,
Burrower shall pay to Lcndcr any amount nccc++an to make up the detirirncy within l0 days from the date Halite is mailed
by Lcndcr to Borrower reyursting payment thereof.
Upon payment nt full of all sums serurrd by this ltilongage. I.rnder shall pmmptly refund to Borrower any Funds
held by tender. If under paragraph I ti hereof the Prupeny i+ ,old ur the Property is othcrwix; acquired by tender, LcnJer
shall apply, no later than nnmcdiately prior to the sale of the Properly or its acyuisitiun by Lender, any Fund+ held by
Lender at Ihr umr of application as a credit ag:unst the sum. u*currcl h}• this \lortgagr.
3. Application of Pa}nicnfs. Unless applicable la++• pnrvides othcrwisr. al~ payments •r~tcivr!d by I.rndrt under the
Vutr and paragriphs 1 and_' hereof shall be apphrJ by Linder first m p;nmrnt of amounts payshlr to Lcndcr by Borrower
under paragraph ? hereof. then to nitere+t payable on the \ute. thin to the principal of the Nutr, and thin to interest and
principal un any Future Advances.
J. Charles; [.lens. t3orruwcr .hall pay all rase+, assessments and other charges. finis and imposition. attnhutahle to
the Property which may attain a priuriry over this 1lortgagr. and Icauhold paymenh or ground rents, if any, in the manner
provided under paragraph 2 hereof or, if not paid in such manner. M Borrower making payment. ++hen due. Directly to the
pa~ec thrrcof. Borruw•cr shall promptly furnish to Lcndcr ail Hotter, of amount. due under this paragraph. and in the .event
Borrower +haN make pa)•men! citrectl). Borrower .hall promptly lurni+h to Lcndcr rrceiph e+idencing such payments.
Borrower shall promptly Discharge any lien which has pnunty user this ~lurtgage: provided. that Borruwrr shall not tx:
required to discharge any such lien su long as Borrower .hall agree in writing to the payment tit the uhfigation ,crated by
wch lien in a manner acceptable to i_cnder, or shall in g.Nrd faith arntest uich lien M•, ur JefrnJ enforcement of sorb lien in,
legal pnrcceding+ which operate to present the rnfarcrment of the lien ar (urfeiturr of the Pro?xrtc or :uty part thereof.
5. Hazard Insurance. Burrower shall keep the impm+emcnts now rsisnng or hereafter erected on the Pmperty insured
against lms by fire, hazard. included within the term "e+trnde.t •_o+cragr'~. an.l +uch caber hazard. a+ Lcndcr may require
an.l in such amounts and for such periods as Lcndcr may require. procidr.l. thit I.enJer .halt nor require that the amount of
+uch co+erige rxreed that amuuut of co+erage required to pas the .rim, .e.ured h+ the. ~tortgaLr.
The insurance carrier providint; th imurmre shall Ix chosen by Bornr++er subject to appru+:d by Lender, provided.
that such appro+~al shall not tx: unrrasunahly withheld. All nrrnuums on imuranre po(iries .halt be paid ui the manner
provided under paragraph 2 hereof ur. if nut paid in such m:inrirr. by Borrower making payment, whin due, duectly to the
insurance carrier.
All insurance policies anJ rene++ak thereof shall tee in farm acxptahle to I ender and shall include a stanJard nurrtgagc
rlatnr in favor of and in form a~ceptahle to Lender. Lender .hall base the right ter hold the policies and renewals thereof. '
and Burnn+cr shall pnrmpNy furnish to Lender aN renew;d nutires anJ all receipts of paid premium.. In the c+rnt of toss.
Borro++cr shall gree prompt Hotter to the nuurutce earner and Lcndcr. Lender may make prcw•t of loss if Hat made promptly
by Burrower.
Unless Lcndcr and Born»vrr otherwise agree in venting. imuranre pnrreeJ+ shall be applied to restoration ur repair of
the Property Jam:igrd, provided such rcstoratioii ur rrp:ur a economir:dh• feasible and the security of this \tortgagc rs
not thereby impaired. It ,uch re,toration ur rep;ur is not economic:dly leasihle or if the security of this ~lartgage would
be impaired. the insurance prureeds .hall he applied to the sums urureJ by this :~fongage. with the excess, if any, paid
to Borrower. If the Property is abandoned by Borr~rwrr. or it Harrower fail. fir rrshimd to lender within 30 days from the
Date notice rs mailed by Lender to Bornrwer that the imuranre carrier otters to settle a claim for imuranre trenetits, Lcndcr
i, authunzed to collect and ;ipph the ntsurance pnrCCCds at Lender's option rtther to restoration ar repair of the Property
or to the sum. scored by this ~tortgagr.
Unless tender and Burru++rr ather++i.c agree in writing. any +uch application of pnrrced+ to pnncipa) shill not e+[rnd
or postpone the due date of the monthly inttallments referred !u in paragraphs I ;vial ? hcrart or change the amount of
wch installm•_nb. It under paragraph l8 hereof the Pmpcrt} is acywred h+ Ixnder. all right, title and interest of Borrower
in and to an+ insuruicr pohcics and in and to the pnrrecds thereof resulting from damage to the Property prior to the sale
ur acyuisitiun shill pa,+ to Lender ro the carol of the soon sccureJ h} this \lurtgage immediately prior to such salt or
aryuisition.
6. Preservation and ~laintcnrnce of Property; Leaschulds; ('ondominiums; Planned Lnit De+elopments. Borrower
shall keep the Property in gcx>t1 repair and .hall not commit waste ur permit impairment or deterioration of the Property
and sh:?tl aimply ++ith the provisions of an~~ lease rt thi, ~tortgagr n •rn a Ica+rhuld. It thi, \furtgage i+ on a unit in a
cundominnim or a planned unit decelopmrnt. Borrower .hall perlirnn all of Borrower's obligations under the drelaratian
or covrnanh grating ar govenung the condominium ur planned unit de+•clopment, the by-laws and regulatiom of the
condominium o: planned unit devclupment. and comtihient dcrcuntcnts. If a condominium or planned unit dr+rlopnirnt
r:.trr rs r+crutcd by Burrower and rerordcd together with this ~fortgagc, the cavcnants and agrcrntents of such rider
,hall tx mcorpuratcd into and shall amend ;end ,upplentent the ru+rnants and agreements of this ~lortgagc as if the rider
•.+err a part hereof.
7. Protection of Lenders Serurily. If Borr~rwer fail. to perform the covenant. anJ agreements contained in this
Mortgage. ,rr if any action or pmrredrng is commeneeal which marrrially attr.h Lcndcr'. interest in the Property.
includuig. but not hooted tu, emutent dom:un. insolsenry, taste enforcement. or arrangements or prarcredings inruhing a
bankrupt ur decedent. then I-ender at I.cnJcr's option, upon notice kr Borrower. nLi+ make such appearntcr,. dishune such
sums :end take such action as rs neressan to pnrtrr:t Lendcrc mtercd. uicluding. but not lim+ted to, dishursrnicnt of
rcasanahlc attorney's tees and entry upiin the Propert} to make repair. It tender rcyuireJ mortgage insurance as a
ronctition of making the loan orated by this ~lortgace. Burrower shall pay the premiums required to maim:+m such
insurance in ettrrt until such time a+ the requirement for .uch muirance terminates to aCCOrdanrr with Borrower's and
. ~?~343 p~ 437