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Botrower end Ltnde~ oovarsat and ~ree a~ foUows:
l. Pa~-ment o! Ptlaclpal ~ad Iatere~t. Bosrower shall promPW- WY when dw th~ ~rind~al of aad interat on We iadebtednaa
wid~o~d by the NM~. pr~payment wnd late char~ a~ provided in the Note, and the priadpsl of end intereat on any Pt~tnre AdvaacN Mcur~d
by thi~ Moet~e.
'l. FLnds for Tue~ and Inwraaos. 3ubject t~ appticable Isw o~ to a written waiver by Leoder. Horrowe: ahall p~y to Lender on the d~y
monthly intWlmeata olprindp~l end inte~t are pqy~bk und~ the Note~ until the Note iu paid In tull, a sum (hereir~ "Fl~nd~'~ eqyal to ow.
tw~ellth of th~ year~jr taue~ and ~aasmenta rvbich may attain priority over this Mort~aQe. and ~rouad rents on the Property. if any. plw oa~
t~rellW of Yeatly prerniuca uutallmenta foc huard iruurance. Plw onptweltth of y~rly pe~emium instellmer.ts tor mortgasa iiuur~nca itauy;
aU a~ rsawnably atimated initially aad liroaa tinne to time by Le~der on the basu ~i a~ae~amenta aAd bilb and reawnabls eetieaata~ thereoL
TM Pbndr shaU be held in an in~titatio~ the depwita or aocounb of ~rhich ue insured or ~uaranteed by e Federel or 9tat~ a~mcy
(inct~din~ T•enda~ U Leuder i~ snch aa in~titutioa~ Lender shell aPP1Y the Funds to pay wd tasea, asre~amaats. I~uurance.Preminma and
~round renta. Leader myr aot ch~r~s far w. holdin~ and applyin~ the FLnds. analYzin~ ~sid aocouat, or verifpin~ and oompilin~ ~aid
we~t~ and bi1L. nnlas Lsadei' p~U~ Borrower iatare~t oq the Pti~nds and applicable law penaits Lsnder to make ~uch a charse. Horro~we
and Lea~ moy asree in weitin~ st.tbs dme of executioa of thi~ Mort~ey~e that intere~t on We Phnds sheU be paid to Borrowes~ uid unl~w
saeh ~reemaat ia mad~ or applicabk l~w reqnir~ mch intereat to be Paid. Lender shaA~not be required to p~y Borrower any int+re~t at
earninp on the P1~nd~. Lendee shall ~iw to Bosrower, without chasee. an an~usl acoountin~ of the P~nda ~howinQ credib and debiq to tbe
P1md~ and the porpo~e for which e~ch debit to the F1nds.yaa made. The F~nds are pledged a~ sdditional ~ec~uity for the ~um~ ~scured by tl~
Mott~~. ~ .
Iith~ ~monat of the I~hnds held by I.ender. te~ether with the futun monthly uutallments of Funds payabk prios b the due dste~ of taacN„
us~ents. insuraaca preminm~ aad sround rants. shall exaed the amount required to pqy ~aid taues. a~sessraent~. i~uuranes preminau
aad ~e~ound re~t~ aa they faU dae. snch exoa~ ~hall be. at Horrowar's option. either promptly eeQaid to Borrower or credited b BorroMrerou
monthl,y inahliments of P1~ada. U the amonnt of the I~ads held by I.ende~r shall not be ~ufCc,ieat to psy taxea, aweasm~ta. ieuur~ACe
prsmium~ and ~ronnd rwtr u tl~ey fdl due. Horrower shaU psy b LendK any amonnt neres~ary to make up the de8ciency within 30 day~
from We dafe notioe u mailed by Leada to Horrowe~r nqueating payment tlureo! ~
Upoa p~ymeat in inll af all ~nms aecnred by this MortBe~e. Lender ~hall prompdy nfnnd to Borro~r~ aay fuuda held by Lenda. Itund~
parasr~ph 18 bereoithe Pe+upe~ty u wld or the Propaty is otherwise acqaired by I.~der~ Lende~ ~hall apply. no later than immediately piior
to the nle ot the Properiy ar it~ aoquiation by Lender. aay I~nds held by Lender at the time of application u a cndit a~aiast tl~e nuw ~e~wred
by thi~ Mo:t~~e.
3. AppUcatloa of Pa~nnenta. Unlea appliceble lew provides otherwise. all paymenta e~eoeived by Lender nnder tb~ Note ~ad
P~~P~ 1 an~1 Q hersot ~haU be ap~ied by Lender Srst ia payment of amonnts payable to Lender by Borr~ower andet peta~raph 2 hereu~
then to intend payabk on the Note. then to the principal of the Note. and then to intere~t and princapal on any I~ture Advanoe~,
~._Charser; I.iea~. Borrower shall pay all ta:es, asseasments and other charges, fine~ and impwitiona attributable b the
m~y attain a priority ovez thia Mortgage. and leasehold payments or ground rents, if any. in the manner ~~y ~~~
provided under paraQraph 2bereofor~
if not paid ia snch manner, by Borrower making paymen~ when due, directly to the payee thereof. Borrower shall pmmptly furni~h to L~der
all notioes of amounts due under this paragraph, and in the event Borrower ahall make payment directly, Borrower shall promptly fumi~h to
La~dec reoeipts evidencing such payments. Borrower shall promptly diacharge any lien which has priority over thiu Mortgage; pruvided. that
Borrow~r shaU not be reyuired to discha~ge any sncH lien so long as Borrower shall egree in writing to the payment otthe obligation tecured by
anch lien in a manaer aooeptable b I.ender. or shall in good feith contest auch lien b~ or defend enforcementofauch lien in, legal praxedin~s
which operate to prevent the enforcement of the lien or forfeiture of the Property or any patt thereof.
5. Hasard Insurance. Borrowrer ahall keep the impmvements now esuting or berealkr erected on the Property inwred agaitut low by
fire. hasardt included within the trrm "eztended coverage," and such other hazard~ ai Lenda may require and in wch amounb and for atch
puiods as Leader may require; psovided, that I.ender shall not require that the amount of such ooverage exceed thet amonnt of oovera~e
requirad to pay the sums secured by this Mortgege.
'I~e insurance carrier providing the inaurance shall be chosen by Borrower subject to appwval by Lender; pmvided. that tuch appmval
shaU not be unnaaonably withheld. All premiuma on insurance policies shall be paid in the mannet pmvided under paragraph 2 hereof or. if
not paid in such manner, by Borrower making payment, when due, dinctly to the inaurance carrier.
All uuurance policies and renewala thereof ahall be in form acceptable to Lender and shall include a standaed mort~ese cls~ue in favor d
and in form acc~ptable b LendEr. Lender shall have the right to hold the policies and renewa4 thereof, and Borrower aha11 promptly insni~h to
i.endet all renewal notices aad aU receipts of paid premiums. In the event of loss, Borrower shall give promgt notioe to the in~nnnoe carrier
and Leader. I.ender may ma1~e proof ot loss if not made pmmpdy by Borrower:
Unlea_ Lender and Bormwer otherwi~e agree.in writing, inaurancx proceerw shal! be applied to reatoration or rtpair of tbe Pe+opetty
dama~ed, peovided such reatoration or repair is economically fetsible and the~security ot thii MortQa~e u not thereby impaii+sd. If ~och
eestoration or npair is not economically feasible or if the security of this Mortgage would be impaired~ the iasuranoe proceed~ ~hall be applied
to We sums iecnred by thia Mortgage, with the excesa, if any, paid to Borrowrr. Iithe Property is abandoned by Borrower, or if Borroaer fail~ to
rapond to Lender within 30 days trom the date notice is mailed by Lender to Borrower that the insurance carrier olrer~ to ~ettle a claim tor
in~nranoe benefib, Lender ii authorized to collect end apply the inaurance proceeds at Lender's optiAn tither to rastontion or eepoir dtl~e
Property or the a~ims secnred by t6ii Mortgage.
Unks~ I,ender and Borrower otherwi~e agree in writing, any such application of proceeds to principal ~ha11 not extend or pwtpone the dw
date of the monthly installments referred to in paragraphs 1 and 2 hereot or change the amount of ~uch in~tallmenta. It under parage+~ph 18
haeof the Proparty is aoquired by Lender, all right. title and interest of Borrower in and to any inaurance policia and in and W the ptoceed~
thereoi resuiting fmm damage to Property prior to the sale or acquisition shall pesa to Lender to the eztent of the ~wns ~e~vred by tWa
Mortga~e immediately prior to ~uch sale or aoquisition. '
6. Pre~ervatlon end Maintenance otProperty; Lea4ehotdr Condominums; Plaened Unit Developmenb. Borrowa ~hall keep
the Property in good repair and shell not rnmmit waste or permit impairment or deterioration of the Property and shell oomply with the
provisions of any Icese if this Mortgage i~ on a leasehold. If this Mortgage is on a unit in a oondominium or a planned unit development~
Borrower shall perform all of Borwwrr'~ obligations under the declaration or covenants creatingor governing the oondominiura or plaaned
unit development, the bylaws and ngulations of the condominium or planned unit development. and eonatituent documents. If a
condomininm or planned unit development rider is executed by Borrower and recorded together with this Mort~a~e, the oovenanb and
agreements of euch rider ahall be incorporated inw and ahal l amend and eupplement the covenanta and agreement~ of thii Motrt~age u if t}-e
rider were e part henwf.
7. Protectioa of Lender'~ $ec~rity. Ii Borrower fails to pertorm ehe oovenanta and a~reanents contained in thi~ Morts~e, or Uaqy
action or proceedinQ i~ oa~unenoed which autesially aKects Lender's ineere~t in the ProPe*tY. includin~, but not limited to, ~mineat domain,
inwlvency. oode enforoernent, or uran~ementa or proceedings involvin~ a bankrupt or deoedent~ then I.ender at Lendds opdoa~npon
aMios b 8orrower may make ~uch appsaranoe~. disbune such sums aad tai~e ~uch action eu ii neoe~wry to proteet Iwndds intawR
indnding. but not l~mited to, disbursement of reawnable attomey's fees and entry npon the Property to mske repair~. If I.mder rsqaind
'mortsa~e uunranoe a~ ~ condition ot making the loan secured by this MortgeQe. Borrower ~hall pay the prantunu reqaind to maiatain
wch in~nrance in etfect nntil tnch time a~ the requirement for ~uch inaurance terminat~es in aocordance w~ith Borrp~rer'~ and Lend~e'~
written a~reement or applicable Lsw. Borrorrer shaU pay the amount ot all mortgage ini~trance pranium~ in tl~e mann~ provided nnd~
wra~raph 2 ha+e~ot.
- Any amonnb di~bursed by Lenda penuant to thu paragraph 7, with interest thereoa, shall beoome additiond indebtednea oi
Borrowra secnred by thi~ Mortgage. Unleas Borrower snd I.ender agree to otha term~ of paymenR ~nch eunounb ~hall be p~yabk apon
notics frotn Lender to Borrawer req~ating payment ehereof, and ehall bear interest frow the date of di~bunement ~t the rate payabk from
time to dme on out~tanding principal under the Note unless payment of intenst at such rate wonld be oontrary to applicable law, jn ~rhk~
eve.nt ~uch amounts shall bear interat at the highest rate permisaible under applicable law. Nothin~ ooq 'tw-~d i4 this para~raph 7. ~halt
reqnire Lender to incur any acpense or take say action haeundrr. .
~345 p,~i5p2