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Borrower and Lender covenant sad agree a. folbwa:
1. Payment of Principal sad latereeat. Borrower shall promptly pay when due the pesnc~+d ad a3+i arrleserat .«. aloe ~ieliseeioesr
evidenced by the Note. Prepayment and late charges as provided in the Note, std the princ~pa) ed sad iiaiertrJtaa- as-~ Fssrse.#ria-aaoessansse+i
by this Mortgage.
2. Fonda fear Taxes and Insuranee. Subject to applicabk law ur w a writt<x- w•tciaw by Leader, Heere,wtetr dealt ~es}• tkrl.es-~tes-rirtia~r
monthly installments of principal and interest are payabk under the NeAe, urrtil the I~++Ie• ie paid m fuU, a snteo ~clbenesa "'Fetes"Mtet~ari trtecar
twelfth of the yearly taxes and assessments which may attain priority over this McnKgagr, sad ~ecasnd etemn: m tibe•~4ro~t7t-„~as}-_~tea+r
twelfth of yearly premium installments for hazard insurance, plus one-twelfth tdyear}; presaieun Yn+Aailla+enrRa Seer aettgr:tpe•sewrasrnr idanf.
all as reasonably estimated initially and from time to time by Lender c+n the twsis<d mn~nemis sad tulb: ~md naaa+s:a48e•e~rsex~e>n+d
The Funds shall be held in an institution the deposits en aexounts of which am insured er geu+raaterri >rs• a Fto8esa7 tar'~iiase• ~!•
(including Lender if [.ender is such an inetitutionl. Lender shall apply the Fonda w pay rood tatc<x:, aeus~esrtc, ssuurraa,ce• ane~aema .rd
ground rents. Lander may not dtar~e for so holding and applying the Fends, analysing said acxwemt. •ur aessi}tis~ ..emd <~~I[ a:d
assessments and bills, unless }.ender pays Borrower interest on the Funds and applicabklaw• pesmrta Les+ile: Nr~aire•swc~atciastpt Brs~+eser
and Lender may agree in writing at the time of execution c,t this Mortgage that interest em tht Funds a~rtl i+e• prig su Brrnvstes_ aeai s~
such agreement is made or applicabk law requires such interest to be paid, Lender shall eat fie, req{ui>red au rrs Benwa+er ass ~sseseess K
earnings on the Funds. Lender shall give to Borrower, without charge, an annual acxxrurrttttg uishe•FtmrL s~+rw~tcaeiissamatielrsattYertt`t
F ands and the purpose for which each debit to the Funds was made. The Fuada see pledged:F addwcenal anc•.tasQ~• ier r~ri+rssrs <,e,eardig tiw
Mortgage.
1[the amount of the Funds held by Lender, together with the future monthly installmertrte. sdFundspasaide•pirorewrobr~8ae•~iraeYrttues,•
aaseaamenta, inattrance premiums and ground meta, shall exceed the amount nx{wtwd t(r pay wad tasex•.a+s,eysanes>hx, esn++rronrpee>~u
and ground rents as they tall due, such excess shall be, at Borrower a option, e~tM•r pn+mPti~• rtyw+d a(r E3tes•uwres ae taen8Ae+8 w Benwaa+a
monthly installments of Funds. It the amount of the Funds held M• Lender shall not hr ee,lFic~em e)e, gag satoex.
premiums and ground rents as they fall due, Burrower shall pay to lrndex any amount aettxwsary fe, mahe• .ate ahe•~8ef6icnctsc~-.nr>h~ ~A'~etla7~s
fmm the date notice is mailed by Lender to Bomrwe•r rrquestir+g payment theYevef. .
Upon payment in full of all sums secured by this Mortgage, Lender shall prc,mpt]y redund t<, $ctrusuer ata} fam@+:ibHltl i-s• I.es~de: Huare~
paragraph 18 hereof the Property ie sold or the Property is utherwilat• acyrrire•cl br I,endex, I,es+dex edsaU apph• •'Dtr lrte>r ahaa geese
to the oak of the Property a its acquisition by Lender, any Funds held by Lendev at tier. Erme• ed a, y+Lc~+Lem ass caettia .aGsm+a tribe was as+nraed
by this Mortgage.
3. Application of Payments. Unless applicabk law provides otherwise, all payznemt+. retcxnvud in• Zl~e-tea t~e• veer ;as./
paragraphs 1 and 2 hereof shall be applied by l.eoder first in pa~•mrnt of amounts: payable u, Learde~ in~ ii+eix,.uer uat]ex +'
then to interest payable on the Note, then to the prier[ al of the Nolr• and thin ttr mtenst and ~~~~~
p pnncyu+] <m ems Pu6arer ~ldsasacxx-
4.Charges; Liens. Borrowershall pay all taxtx. asae.•tz_cmrntssnd utt+t•r cl-arges, f+n+y: and 1tn;,eu+rtrem+: mrrt.utalele•yc~rlbe•Nrageesta aeftBClC
may attain a priority over this Mortgage, and Ie:+se•huld pat menu: or ground rrnt_ti, if any,, +n it+r mam,rr;,nraideed ut,d+ff w+c~ac~_itse>nerdae.
tf not paid in such manner, by lic-rrower making payri+e•nt. when due, dirr<tly to the, payex thrrrcrf fittrTtrav+•.fsall;;cear~et}- t+:rat~eea.LesarBrr
all notices of amounts due under this paragraph.:+nd in the ra•rnt lic,rros•ev shall make, pat•met+t dv+ettr, t'Kartw•ra •d.al; ie'~-~ trr~n-
}.ender receipts evidencing such payments. Iitrrn,wrr shall pn,mptly disc•hargr any- I,en w•I+rc t, has;rru+rrt} u,vs :3.r.a6ca~t~aFx•, pna.~u&d..etl,+t
Burrower shall not be required to dicch:ugr am• such hen au lung :+.~ liurruw•e•r shall :egrw• in w•rttrr+gtutf,e-;,a a•n,cs,t c:i :.±,r •+c:i! ~~:.oa, <encuare~ ties
such lien : '+ manner acceptably to Iw•ndrr, or shall in gc,trd f:uth t•trnt+•st such hc•n to . c,r defes+drnie.rcvnrest ccf s:ur'fi i,rt:.az.:x~~i: gcaete~m~{,~s
which operate W prevent the enforcement of the, teen or furfraure of the l'ru;,e•rtC err any ;ran tt,e•re•tQ
5_ Hazard Insurance. liurruw•er shall keep the imprua•emrnts n+rw rxistang ca hrre•.afu7+•r<•cte•d em tt+e• #^rcgrt~Ta :a~+weterd +x u+u+-6!e
fire, hazards included within the term "extended cv,a•+•r:y;r.•- and such tthrr hazards as Lesrdyr may' r<~yuin- ar,d m wuc~,.amuu~ yrt+~ Sea f++ah
periods as Lender may require: pma•id+xl, that I.e•nder shall nut rc•c{uire• that the, amount td';u<-h c•crawr:+;+e• ~ezcrtrd t3,sa a~u+:tue bdKwar~.ytar
required to pay the sums se•cvrrd by this Mortgage.
The insurance tamer pnra•idinK the insur.+nc-,• shall trc• chtr.t•n by Btrrrt•Kr•r sutr~et•i tt. a{,pnn:rt to l.r•uri.•r s+-r•i ,de•d, .{.re yarn: tyge..n:ii;
shall not I,e unreawmahh• withheld..~ll prrm,ums ten moor-u,t-e {rtnc~,w shall irr• patd ut tM• n,ar:rn-r pn.r,cl.•ci t:.,~r•t;r~racr~ili . ~esie.>G`~:e. +r.f
not paid in such manner, by liumrw•+•r making paa-ment- when doe. dirr•t4h ttr tht m~ur-.+ncw ramrr
All insurance policies and renyw•als ther+rrf shall t,e• in form acc•rptahle ur l.•ndc•r and:.fiall mrludc• a,II.ancard zvca't~.:efir tiir~r+++r,tn,3yateeaE
:led in form acceptable to I,ender_ I.endrr shall haa•r the right to hold the {,tnc~+t•t. and r+•newal~ tt,erev i. and }:tRTUwY9 +d.au;a•oan~dlx ~raynjl,ye:
e.ender all renewal notices and all rec repro ut p:+td premiums. In the earnt of }reef,. Bt.rr,~M•c7 shall giav ;scut:.,{rs ntarnr x••s.~ra~:+arr.:.crrtc:aar:+rr
and Lender. Lender may make pr«,f of loss if nut made, prumpth- he Bomrw•e•r
IJnlesa Lender and Rorn,wrr ntherw•iw agr+r• in wntin{;. insurancee• pnrc-cwd~ shall tee appl,rd tc. rcytoraucrz: ac*ttg,aa •+d tC6r Pt~rq+esr,c
damaged, provided such restoration or n•pair is er•unotnicall>- feasible and the ,te•c•untr of thts Mcni;:age• e+• nca 5heme+ln a~ucete.g [$ 3a,c~
restoration or repair is not ernnumicallt feasilrlr ur if the serunt>• of this Mortgage, would t,+• r:npam•d,the m+:urancr;s~c.cr+erei+.s)hu>;i~.e•:rp~
to theaumasecured by this Mortgage, with the excess, rf any-, paid to litrrruwt•r. Ifthe IYupc•rtt t,. ahandc,t+ed to }icsrcwuev.•ca:d Eioea•crate>tLrecdis~ae.
respond to Lender within :qi days from the date nutu•r c. mailed by I~•ndrr to litrrruw+•r that the rna+ururoe• c-ames er6ea•r•se•t+raII3r arf:u~t3•,e
insurance benefits. Lender is authorized to collect and :+pply the msurant•e• prcrc•ewds at l~rndrr•+• tr;,utm rat.k,tu 3c. aw+a~:¢aircm .a erpeaa •,~` tlhr
Pn,perty or the sums secured by this 11urtg:+ge•.
Unless l seder and Borrower otherwise :+grer• , n s• ntu, g. an a- such a pplic•aUun of pet rcxte•dt• u r;cinc:c;w! terra:; acrt +Yiemc ~+er gecuIIp,+mr tilde tabnt
date of the monthly installments referred tc, in paragraphs 1 and 1'.,evetid or c•hangr t.he• amount cd+:rx3, a,trtalltaemat.. lEf vm8e>r ~.tKregt~ 's±
hereof the Property is acquired by I:endev, all right, title and inter+•e.1 of litrrrow•rr rn and to am tnsurmnc+rpcJ+cns..and:m.x=,~so~t~r~a.cr.ee~
thereof resulting from damage to Properly, prior to the sale ur aryu-s,t,un shall paw, ur I.rndts to tt+r t~3esR cif ik+e• s:rm:s. tce+cwret+~ ~ra Lkat:
tilurtgage immediately prior to such salt or acymsitiun.
6. Preservation and ylaintenanc<•ofProperty:1.rasehotds:t•andc.minnmx:i'laaaedi•ait ~teea~atxu~sil:~serp•
the Properly in good repair and shall nut commit waste ur ;,c•rmrt impairment t,r de•u•nuraLcm of the, I'rcgres't; .and +t~atali <eemgil~ wts$, tie
pn,viaions of any lease if this Mortgage is on a Iraae•huld !f thra Mortgage, ii: un a unit in a c•uudurrirtarua: ca a ~>raaed :~ •Iit4teb+gm.eai
Borrower shall perform all of Fiom,wer•s obhgatiuns uudrr the d+•c•Iaratiun ur cuw•tianti: t•reatttiC ca~cn•esnrr+~ tbe•tMeodc~r~•+Q~Tia,atmieei
unit development, the by-laws and regulations of the cunduminium ur planned amt d+•t+eirq,meat. and across¢ue>Dn •becurmemsa. 6f
t-onduminium or planned unit dya•elupmrnt rider is rxw•utrd by Iiurrow+•r and re•c•urde•el tc,geR.hez srth tiiH: 116+atgr~+r. ~ee• tnememrmaF asd
:rKreemynta of such rider shall t-r inrurpc,rate•d into and shall amend and supp)rn,c•nt flee, coavriautr. ant.' agee+e~t-emrts• cdzhn.]bca~r.af ndrt~ir
rider were a part herec,f.
7. Protection of Lender's Security. If Borrower fails ur perfc,r•m the cx,venantr, and agre+enretrita aoretaandsottibualtleurg;.ggr_twedaa;t-
a~ion or proceeding is commenced which materially affects }.seder's interest +n tl+r IYcgrerty.inc:udrng, inrtart limmetdttw.e~titema~,.
insolvency, code enforcement, or arrangements or procerdinga invoh-ing a bankrupt ca detexdemt, [beta Lm+Ber at Lesnrlea~ tegOes~ss
notice to Borrower may make such appearances, disburse such auma and take such aeticm as iet nt+eie~reli• ao ,•preerettt ~re"s i~s~
including, but not limited tu, disbursement of reasonable attnrney•a fees and entry upon the t'tcq,ert}• see make ee~aaa. If Ia~erRyssu>
mortgage insurance as a condition of making the loan secured by this Mortgage. Rc,rrow•er t+hall par tire, pt+e>roiutas a~rmetd se. ~
such insurance in effect until such time as the requirement for such inauranat• t<.•rminatra in acreerdancx said Beerrersuer'tr asd Lemr$er's
written agreement or applicable l.aw. Borrower shall par the amount of all mortgage rnaurancx•;,rermiwnr m ~nr zDSmmer ytvrsv8ed omlrre
paragraph 2 hereof.
Any amounts disbursed by Lender perauant k, this paragraph +. w•rth intexewl thrrrcm• tchall t,e+txnnr adtirt+ima1 :m~tiedseirr+r ~
Borrower secured by thin Mortgage. Unless Borrower and Lender agree tc, other Lerrtix c,f ;wyrr+errt. euc~r amrumos iehr~ 3er ptr}-ail8e• ~
notice from Lender to Borrower requesting payment theretof, and shall bear intrest from ibr de+te• +d daiirt~esA as t~ rase, pugcai~r t6c+~
time to time on out+tanding principal under the Note unksa payment cif mterest at suc3r rase- would I+r cxmsrarz s+r iq¢~rcai3Br iliwr.. ra s3ock
event such amounts shall bear interest at the highest rate permiasiblr under appbcablr Las-. ticttbityg cxanaa+ud xc atitas,prra~ap8,'_>aFrai
require Lender to incur any expense or take any action hereunder.
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