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UNIPORM COYBNAtiTS, Bomower ar~d Le~de. rnvenant and sgree u follows:
l. ~we~f ot t~i~clNl a~i 1Ne~at. Bo~~ower shall prompd~ pay when due the principal ot and intercst on the
indebtednat evidenced by the Note. prepsyment and late chargec ae provided in the Note, and the principal of and intercs~
on aoy Futurc Advances socured by this Mortgage.
2. t4~ tor Tues ~ad lawis~ce. Subject to applicahle law ~~r ~o a wriiten waiver by Leoder. Borrowe~ shall pay
to I.er~der on Ihe day monthly installmenls ot Principal and ~ntcrcct arc payable under the Note, until the Note is psid in (ull,
a sum (herein "Fu~ds'~ equal to one-tweltth of Ihe yearl~ ta~-c. and assessmeots which may atuin priority over this
Mortj~. and joound nnu on the P~+ope~~y, it any, plus one-tweltth of yearly prcmium i~stallmenls for huard insurance.
plus a~e-tweltth of yearly prcmium installmen~s tor mortgage ins~~nncc, it any, all as rcuonably estimated inilially and ttnm
dme to time by ~e~der on the ba~is o( assesamcots and hills and reasonable estima~a thercof.
The Funds shall be held in an insti~ution ~he deposus or accoun~s of which are insurcd or guaranteed by a Federal oi
slate agency (including l.ende~ if Lender is such an institution). I.ender ahall apply Ihe Funds to pay said taxes, asseuments.
inturance premiums aod g~ound•rcnts 1 eoder may not cha~ge lor so holding and applying ~he Fnndc. aoalyzing caid actount,
or verifyin~ and compling said assessments and hills, unless l.e~de~ pays Borrower interest on the Funds and applicable law
permits l.ender to make such a charge. Bc~rrowe~ and Lender may agrce in writing at the time af execution of ihis
Motigaae t6at ioterat on the Funds shall be paid to Bor~ower. and unless such agreement is made or applicable law
requires such i~terat to be p~id. Lender shall nas be rcqui~ed to pay 8or~ower any interat or earnings on the Funds. Lender
shall give to Bormwer~ without charge, an annual accounting ot the Funds showing crcdits and debits to the Funds and the
pucpose for which each debit to the Funds was made. Tht Funds are pledged as additional cecunty for the sumi securcd
by this Mortpse.
If the amount of the Funds held by Lende~, together with ~he future moathly i~stallments ot Funds payabte prior to
the due dates of taxes, auessments. insurance prcmiums and ground rents, shall exceed the amount requircd to pay said taxes,
auattmnts, insurance prcmiums and ground rents as they fall due, such excess shall be, at Borrower's opt~an, either
promptly repaid to Borrower or credi~ed to Borrower on monthly installments of Funds. If the amount of ~he funds
held by L.ender shall not be sut6cieat to pay taxa, assessments, insurance premiums and ground rcnts u they fall due,
Borrower shall pay to l.er~der any amount necessary to make up ~he deficiency within 30 days from tht date notice is mailed
by Lender to Borrower rcques~ing payment thereof.
Upon payment in full of all sums secured by this Mortgage, I.ender shall promptly refund to Borrower any Funds
held by Lender. If under pusgraph 18 hercof the Ptoperty i~ sold or the Property ~s o~herwise acquircd by Lender, Lender
s6a11 apply, no later tban immediately prior to the sale ot the Property or i~s acquis~tion by I.ender, any Funds keld bv
L.eader at the time ot application as a credit against the sums secured by this Mortgage.
3. AppUcatio~ ot Payatedfs. Unless applicable law provides atherwise, all payments received by I_ender unJer the
Note and paragnphs I and 2 hercof shall be applied by 1_ender firsl in payment of amaunts payable to Lender by Borrower
under paragtaph 2 hercot, then to interest payable on the Note, then to the principal of the Note, and then to imerest and
principal on any Future Advancas.
1. C6ar~es; Lkns. Borrower shall pay all ~axe~, a+~cstmcnts :~nd other charges, finet and ~mposi~ions aunbwahle to
the PropeAy which may atlain a pnority over thiti Mortgage, and leasehold payments or ground rents, if any, in the manner
provided under paragraph 2 hereaf or, d not paiJ in such manner, by Borrower making payment, when due, dira:tly to the
payee thereof. Borrower shall promptly furnish to l.ender all noticcs of amounts due under this paragraph._and in ihe event
Borrower shall make payment d~recUy. Borrowe~ ~hall promptty turnnh .to lxnder receipts evidtncmg sucFi payments.
Borrower shall promp~ly discharge any lien which has pnonty over th~c Mortgage; ~irov~dcd, that Borrower shall not be
required to discharge any such lien so long as Borrovver shall agree ~n wriling 1~~ the payment of 1he obligatiun secured by
such lien in a manner acceptable to Lender, or shall in gcx~d (a~th contetit ~uch lien by, or defend enforcement of such lien in,
legal proceed~ngs which operate to prevent the entorcemen~ ot the I~en or torfe~ture o( the Property or any part thereof.
S. Hwrd Inwrsnce. Borrower shall keep the improvementt now eti~ct~ng ~~r hereafter erec~cd on the Property insured
against loss by firc, hazatds included within the term "extendeJ coverage". aa~+ such other hazard~ as I.ender may reyuirt
and ~n such amounts and (or such periodt aa I.ender may reyuire; pn-videJ, that 1_ender tihall not require that the amount ot
such coverage exceed that amount of coverage required to pay ~he cums secured ~by ihis Mor~aage.
The ~nsorance earner providing the insur:+nce chall be chosen by Borrower s~bject to approval by Cender; provided.
that such approval shall not be unreasonably withheld. Atl premwm~ on insurance policies shall be paid ~n the manner
providod uoder paragraph 2 hereof or. ~f not paid in tiuch manncr, by B„rrower mak~ng payment, when due, dirccNy to the
insurance carrier.
All insurance pol~c~es and renewals therrot shall be in (orm acceptable to 1_e~Jer anJ sh:dl ~nclude a t~andard mortgage
clause in favor of and in form acceptable t~~ Lender. t.ender ~hall ha.•e the right to hold the policies and renewals thereof,
and Borrow~er shall prompNy turnish to Lendcr all renrwal noures and all reccipts of paid premwmti. In the event of loss,
Borrower sh~ll g~vz pn~n-pt nohce to the inwrance rarner ~nd Lender. 1_enJer ma} make pnw~t of loss if not made prompUy
by Borrower.
Unltss Lender and Borrower otherwi~r agree in wnting. inwrance proceedc shall be applied to rectoration or repair of
the Property damaged, proviJed such re.torat~un ur repa~r is economically (eatihle and ~he ucurity of th~s Mortgage is
not ~hereby impaired. If wch rectoraUon or repair ~s nut rconomically teasiblr or i( the secunty of this Mortgage would
be impaired, the msurance proceeJs shall be applied t~~ th~ sums wcureJ by th~ti Mortg:~ge. with the excess, if an}•, paid
~o Borrower If the Yropertp is abandoned by Borr~~wer, or ~t Bormwer (ailc to re~~+c~nd to I.ender v-ithin 30 days from the
date notice is maded by Lender to Borrower that the ~nwrance carner ofTen to ~eule a claim for insurance benefits, Lender
is authorized tu collect and apply ~he insurance proceeds at I enJer'~ option either to restorauon or repa~r of the Propem~
or to the sums serured hy this Morig~ge. '~
Unless I.ender and Burrower otherv~i.e ~gree in v-nting. any such applicauon at pnkeeds lo pnnc~pal shall not extend
or postpone ~he duc date of Ihe mcmthly imtallments referrcd t~~ in paragraph. I and 2 herco( o~ change ~he amoum of
such installmeats. If unJer paragraph I8 hereot thc ProFerty n acywred h~ Lender, ali nght, tide and interest of Borrower
in and to any Imur~nce policies •rnd in and to thr prcx;eeds thcreuf re~ulting (rom damage to the Property prior to thc sale
or acqwsition shall pass to Lender ~o thc e~tent ot the ~ums ~ecured b~ thi~ :~t~ctgage ~mmediately prior to such sale or
acquisition.
6. Pnsenation aod ~laiotenance of Propert~: I.easeh~~lds: ('ondominiums; Planned Unit Developments. Borrov-cr
shaU keep tbc Property in good repair and shall not com~oit y~astc or permit impairment or deterioration of the Property
and shall compl~~ with the prov~s~ons of any lease ~t thi~ M~~rtgage n~~n a Ieaseh~~ld. I( th~c Mortgage is on a unit in a
condomimum or a planned unit JevclupmeM, Borrow•er ~hall txrf~~rm all ot Borrower's obhgahons under the declaration
or covenants crcatmg nr govermng thc cond~~mimum ~~r planncd ~imt Jevelupmcnt, the by-laws and regulations of ~he
conJominium or planned unit devel~~m~ent. :~nd ionslituenl ducumem~ I( a cun~ominium or planned un~t de~elopment
nder is eaecuted by Borruw•er and rerordeJ u+gether w~~h ihi~ M~~rtgage. 1he covenants and agreements of such nder
shall be incorporated into and shall ~mend anJ supplement the cu~cnan~ti an~ agreements of th~s Morlgage as if ~he nJer
were a part t~ereof. ~
7. Protection ut I.enders Security. If H~~rr~~wer f:ul, t~~ ~+rrt~~rm the covenamc and agreements c~~ntained in th~c
Mor~gagc, or if any ac!wn ~~r procccding i. cummrncrJ Mh~ch ma~rnally .,ITr~tt 1 cnder\ intcrc~t in thc Propcrty,
includ~ng, but n~+t liml~ed to. emincnt dumain. ~n.~~l~cni}, u~e1~ rnl~~riemcnt. ~~r arr.ingcmcnlc i~r prucecdin~ts im~ol~~ng a
bankrupt or deceJem, then I.ender a~ I enJer'. r~pti~~n, u~~n naticC to B~rruwer. ma~ m:,ke tiurh appearances, dishurse such
sums and take such acuun a~ is nece~~ary t~~ prutect I.ender'~ mtrrecl. includint. hut n~~t IimiteJ to, disburseme~t ot
reewnahle attorney'~ Ire~ and rn~ry u~~n thr Yri~pert~ tc~ me~,e rep.~~r~ It I.cnder rcynire.f martgage incurance a~ a
cond~tiun o( making ~hc loan ticcureJ by Ihi~ \t„n~aEr. B~~rrr.~.cr ih ~II pa} thr prcmwm~ rcyuircJ ~~~ maint~~n wch
~nsurance in rt(ec1 unld wch Um~ as the~ rcyuucmen~ („r ~uch in,uran:r Icrmin:Ur. ~n ac:ordanee w~th Bormwer'~ and
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