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UHt~o~ Covet+~r~. Borrower and Le~der covenan~ and a`~a as follows:
1. ~we~t ot hi~c~i a~i lNerest. 8orrower shall promptl~ pay when due the principal ot and interest on the
indebt~s evidenced by the Note. p~epaymeM and late chargec ac provided in the Note, and the principal ot and inteoest
on any Future Advances secured by this Mohgage.
2. th~ tor Ta~[a a~i I~an~ce. Subject to applicabk law u~ to a writ~eo waive~ by l.ender. Borrawer shall paY
to Lender on Ihe day monthly installments ot p~incipal and interc~~ arr payable under the Note, until the Note is paid in (ull,
a suan (herein "Fu~ds'ti equal to one-tweltth af the yearl~• ta~c. anJ assessme~~s which may attain priority over this
Motisaje. and around rents o~ the Pc~operty. if any, plus one•~welt~h of yea~ly premium insullments for huard insura~ce,
plus oae-tweltth of yearly prcmium installments tor mortgage insurancc, if any, all as rcasanably estimated initially and tmm
time to time by Leader o~ the basis of assetsmcnts and hills and reawnable alimates thercof.
'll~e Funds shall be held in an institution ~he depocus or accounts of which arc insured o~ guaraoteed by a Federal ot
•tate a~ency (i~cluding Lender if Lender is such an instilulionl. I.endet ahall apply the Funds to pay uid uza. assessments.
imuranoe ~emiums and g~aund rcnts. t.ender may no~ charge lor so holding and applying ~he Fu~dc. analyzing said actount.
or veri[yin~ and compilina said assessments and bills, unless t_ender pays Bonower interest on the Funds and applicable law
permits I.eoder to make such a charge. Borrower and Lender may agree in writing at the time ot execution ot this
Mortgage that interat on the Fu~ds shall !~e paid to Borrower, and unless such agreement is made or applicabk law
requira such interest to be paid. Lender shall ~at be rcquired to pay Borrower any interest or earnings on the Funds. Lender
shaU give to Borrower, without charge, an annual accaunting of the Funds showing credits and debits to the Funds and Ihe
putpose fot which eaeh debit to the Funds was made. The Funds are pledged u additional ucurity tor the sums secored
by this Mortgaae.
If the unount of the Funds held by l.ender, together with the tuture momhly installments ot Funds payable prior to
the due dates of taxa, asscssments. irourance prcmiums and g~ound rents, shall exceed the amount required to pay said taxa,
assestme~ts. insurance premiums and ground rents as they (all due, such excess shall be, at Borrower s option, either
promptly rcpaid to Bormwer or ctedited to Borrower on momhly installmen~s of Funds. If the amount of the Funds
~aa by t~e~ Sn~ai ~oc e~ :~;eoc to wy e~~, assessments, insurance premiums and ground rents u they (all duc,
Borm~rer shall pay to Lender any amount ~ecessary to make up the de6ciency within 30 days (rom ~he date notice is mailed
by Lender to Borrower requesting payment ~hereof. •
Upoa paymeat in full of all sums secured by this Mortgage, l_e~der shatl promptly rcfund to Borrower a~y Funds
held by Lender. If under puagraph 18 hercof the Property i~ sold or ~he P~operty ~s otherwise acquircd by Lender, Lender
s6d1 apply. no later than immediately prior to the sale of the Property or i~s acquisition by l~nder. any Funds held bv
Lender at the time of application as a credit against the sums securai by thia Mortaage.
3. A~plicatiw~ ot Paymeats. Unless applicable law provides othe~w~x. all payments received by Lender under t6e
Note aad pangraphs 1 and 2 hercof shall be applied by I.cnder first in payment o( amounts payable to l.ender by Borrower
under patsgraph 2 heroof, then to interest payablc on the No~e, then w the principal of the Note, and then to interest and
principal on any Future Advances.
1. Chuges; Lkas. Borrower shall pay all taxrti, assessments and othcr charges. fines and imposiuons at~nbutable to
t6e Propecty which may attain a pnority over this Mottgage, and leasehold payments or ground rents, if any, in the manner
provided under paragraph 2 hercof or, if not pa~d ~n such manner, by Borrower making payment, whtn due, directly to the
payee thercof. Borrower shall promptly fum~sh tu LenJer all notices of amou~ts due under th~s paragraph, and in the event
Borrower shall make payment d~rectly. Borrower shall promp~ly turnish to l.enJer receip~s evidencing such payments.
Borrower shall promp~ly discharge any lien which has prionty over thic Mortgage: proviJed, that Borrower shali not be
tequired to discharge any such lien ~ long as Borrower shall agrce in wr~ting t~~ the pay~ment ot the obligatiun stcured by
such lien in a manner accepiable to Lender, or shall in good f~ith cuntec~ ~uch lien by, or Jef~nd enforcement of such lien in,
legal procced~ngs which operate to prevent the enfurrement o( the iien or forfeiturc of the Property or any part thereof_
S. Huud l~rance. Borrower shall keep the ~mpro~•emen~s now erist~ng o~ hereafter erected on the Propeny insured
against loss by fire, haurds included withm the term "extende~i cuverage". and such other hazards as I_ender may require
and in such amaunls and for such periods as l,cnder may require: provided, that Lender shall not require that the amount o[
such coverage exceed that amount of coverage reqwred to pay ~he sumc cecured ~by ~his Mort6age.
"Ilie insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lendtr, provided.
tbat such approval shall not be unreasonably withheld. All premiumc on insurance polic~es shall be paid in the manner
provided under paragraph 2 hereof or, ~f not paid in such manner, by B~rrow~er making paymtnt, when due, dircctly to the
iasurauce carrier.
All insurancc polic~e~ and renewals therrof shall be in form accept~ble to Lender and shall include a standard mortgage
clause in favor of and in form acceptable to Ixnder. 1_ender shall ha.•e the right to hold the policies and renew•als thereof.
and Borrower shall prompdy turnish to Lender all rencwal noUCes and all reccipts of paid premiumti. In the event of loss.
Borrower shall gevc prompt not~cc to ~he mwr~nce carncr and Lender. Lertdrr ma}~ make prcx~t of loss if not made prompUy
by Borrower.
Unless Lender and Borrower other.~~~k agree in wnting, in~urance proceeds shall be applied to restoration or repair of
the Ptoperty damaged, provided such rc~torat~un or repa~r is economically (easible and the security of this Mortgage is
not thereby impa~red. If such restoration or repa~r is not econom~cally (easihle or ~( the secunty ot this Mortgage would
be impa~red. the insurance proceeJs shall be applied to thc sums secure~ by this Mortgage. wuh the excess. if an}•, paid
to Borrower. If the Property is abandoned by Borrower, or il Borr~wer (ails to rc~pond to I.ender w~thin 30 days from the
date notice is mad~d by Lender to Borrower tha~ the msurance carrier ofTer~ to senle a claim for insurance benefits, Lender
is autborized to collect anJ :~pply the insurance prc~eeJs at I.ender's opt~on either to res~orahon or repa~r of the Propenv
or to the sums secured hy this Mortgage.
Unless Lender and Borrow•er other.~~~e agree in wnUng, any such applicanon c-( pnxeeds ~o pr~ncipal shall not eztend
or postpone the duc date of the monthh• installmcntc rcferred ~o in paragraph. 1 and 2 herrnf or change the amount of
such installments. 1f under paragraph IS hereot the Pro~,ert}• ~s acywred hy LenJcr, ali nght, title and interest of Borrowcr
in aad to any R~sur~nce policies and in anJ to thc pr~eed~ thereo( resulting (rom damage to the Property prior to th~ aale
or acqwsiUon shall pass to Lender to the extent of the ~ums secured by this lfortg:~ge immediately prior ta such sale or
acquisition.
6. Presen•ation and ~taiotenance of Pcopert~; I.eauhulds; ('ondominiums; Plsnned Unit Uevebpmenls. BorroK~er
shall keep the Property in good repair and shall not comro~t y-aste or permit impairment or deterioration of the Property
and shall compl}• with ~he provisions of any lease i( thiti•Mortgage n~.n a Icasch~ld. If this Mortgage is on a unit in a
condomin~um or a planned umt Je.•elopmcnt, Rorrower ~hall ~r(orm all o( Borrower's oblig~twns under the decl:~raUun
or covenants creatmg or g~vernmg the condumin~um or planneJ umt devel~~pment, the by-laws and regulation~ of the
condominium or planned unit Jevel~~l~ment, ~nd cc.nstitucm ~i~kumeni~ I( a condominium or planned umt dcvelopment
rider is executed by 8orrow~er and rerordeJ t~~gether ..qh th~~ M~rtgage, the covenants and agreements of wch nder
shall be ~ncorporated mto and shall amend and ~upplcmrnt the co~enants and agreements ot th~s Mortgage as if the nJcr
were a part Fereof.
~. Proteclion of I.enders Security. If Fi~~rr~~HCr (a~l~ t~~ pcr(~~rm the rnvenantc an~l agreements rontained in this
Mortgage, or if any ac~ion ur proreeding i~ cummrnce~l Kh~ch materiall} ~(ircts Len~fer'ti interetit in the Prapert}•.
includmg, but n~t bmrted to. rminenl domain. im~~lvenc~. ~ixlc cntnrcem~n~. ~•r arranKemrnt< <ir pr~keedings invoh~~ng a
bankrupt or decedent. ~hen 1_enJer a~ 1 enJer'. opt~on, u{Hm nc.t~ce ~o Borruwcr_ rria~ mc~ke ~u:h appearanceti. d~ihurtie such
sums and lake such actiun ac is nece~~ary t~~ pmtert I.ender'c mterect. ~ncluJing. but not Iim~teJ to, disbursement of
reasnnable attomey'~ (ceti- and eniry u~x~n thc Prc~pcrl~ Ic• mel~c repa~r~. I( I.rodcr rcyuircd mongage inwrance a~ a
condihon o( making Ihc loan ~ecureJ hc th~~ :~1~~r~gaEr. B~•nr.HCr sh ~II p~}• Ihr prcmiums rcq~nreJ to mainta+n ~uch
irourance in rffect untd tiuch brrte as the reywrement ~~~r .uch m;urrn:r Icrm~natr~ in accordanee K'lIF1 BOfR~WCf's and
~onx 3~s Par,t ~79
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