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Ut+tto~w Covat+~~,TS. BoROwer snd Lende. rnvenant and a~ra as tollow::
1. ~a~l ~t ~ric~i ri I~termM. Borrower shall promp~l~~ pay when due the principal of and intercst on the
~debtednas evidenood b~r the Note. prepayment snd late chargec ac providcd io the Note. aod the principal ot and interost
on soy Future Advances socured by this Mort~s=e. ~ -
2. l1~Ns tK Taza M/ laana~ce. Subject to applicabk law or to a written waiver by Lende~. Borrov~-er shall psy
to Lender on the day montAly insullmen~s o[ ptiocipal and ~~t~rcu arc payahle under tFx Note, until the Note is paid in tull.
a wm (herein "Funds'~ oqual to one-twel(th of the yearl~ ta*~. and asxssmen~s which may attain pnority over thi:
Mort~a~e. and ~round tents on tbe P~+operty, it aey. F+lus one-twelfth of yearly premium installments for huard insunnce,
plus oae-tweltth of yearly premium installments tor mortgage insurancc, it a~y, all as reuonably estimated i~itially aad (rom
time to time by Lender on the buis ot assescmcnts and hills and reasonable eslimata thercof.
The Funds shall be held in an institutic+n the depoat- or accaunts ol which are insured o~ guaraolced by a Fedenl ot
state a~ency (includina Lende~ if Lender is such an inslitutionl. 1_ende~ ahall apply Ihe Funds to pay said uza. asxuments.
i~une~oe premiums and ~ound rents 1 ender may nat charge Ior sa holding snd applying the Fnndc. analyzing said account.
or verifyint aad complina said assessmeots ~nd bitls, unless Lender pays Borrower interest on the Funds and applicable law
permits Lender to mske suc~ a charge. Borrower and LenJer may agret in writing at Ihe time ot ezecution o( this
Mortsase that interat on the Funds shall be paid to Borrower, and unlas such agreemen~ is made or applicable law
roquira such intercst to be paid. Lender shall not be requircd to pay Bo~rower any intercst or ear~ings on the Funds. l_ender
sliall pve lo Borrower, without charge, an annual accounting ot ~he Funds showing crcdits and debits to Ihe Funds and the
purpose for wh~ch taeA debit to the Funds wu made. The Funds are plodged u additional security tor ~he sums securod
by t6is Mortpje.
IE the amount ot the Funds held by Lender, togethsr with the future monthly installments of Funds payable prior to
t6e due dates ot tues, assessments, inturance prcmiums and ground rcnts, shall exceed the amount reyuired to pay said ta~-es.
assas+nents, insurance premiums and ground rents as they tall due, such excess shall be, at Borrower's op~ion, either
ptomptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the i~unds
heW bp Lender shall not be sui6cieat to pay tua, assessments, insurance premiums and ground rents u they fall due,
Borro~rer sball pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by L.eade~ to Borrower requesting payment thereof.
Upon paymeat in [ull ef all sums secured by this Mortgage, l_ender shall promptly refe~nd to Borrower any Funds
held by l.ender. If under puaaraph 18 hercof the Property i~ sold or ~he Propeny ~s otherwiu acqu~rcd by t_ender, Lender
shatl apply. no later than immediately prior to the sale of the Propeny or its acquis~tion by Lender, any Funds held bv
l.et~der at the time of application u a crcdit agamst the sums securcd by this Mbrtgage.
3. A~licat~ oE tayoe~ts. Unleu applicable law provides otherwise, all payments received by Lender uAJer the
Note aad paragnphc 1 and 2 hereof shall be appl~ed by l_enJer 6rst in payment of amounts payable to Lender by Borrower
under puag~aph 2 hercof, tben to interest payable on the Note, then to the principal of the Note, and then to interest and
principal on any Futurc Advances.
e. Cdar=es; Lkns. Borrower shall pay all ta~es, atscssments and rnher charges. 6nes and ~mposit~ons auributable to
t6e Property which may attain a pnority over this Mortgage, and leasehold payments or grouna rents, if any, in the manner
pmvided under paragraph 2 herco[ or. if not paid io such manner, by Borrower making payment, when due, diroctly to the
psyee thereof. Borrower shall promplly furn~sh ~o Lernier all not~ces of amounts due under this paragtaph, and in the event
Boroower shall make payment directly. Borrovver shall promptly furnish to Lender receipts evidencing such payments_
Borrowe~ shall promp~ly dixhargc any lien which has pnonty over th~c Mongage: provided, that Borrower shall not be
rcqwred to discharge any such licn so long as Borrower shall agrce in v-nting to ~he payment of the obligatiun secured by
such I~en in a manner acceptabk to Lender, or shall m g«~d farth rnmett such lien by. or defend enforcement of such lien in,
kgal proceed~ngs which operate to prevent the enturcement of the I~en or forfeiture of the Property or any part thereof.
S. Huard lnwraace. Borrower shall Aap the ~mpravements now~ erizting or hereafter erected on the Property insured
against lass by firc, hazards inclucied within the term "extended coverage°, and such o~her hazards as t_ender may reyuire
and m wch amounu and for sur.h periods as Lender may requirc; provided, that l.enJer shall not rcquire that the amount ot
such coverage ecceed that amount of coverage reqwred to pay the tums secured ~by this Mortaage.
The ~nsurance carner ~providing the insurance shall be rhosen by Borrower subject to approval by Lender; provided,
tbat wch approval shall not be unreasonahly withheld. All premiumc on insorance policies shall be paid in the manner
• provided under paragraph 2 hereof ur, if not paii m such manner, by Borrower mak~ng payment, when due, direcdy to the
inwranct carr~er.
All insurancr pol«~es and renewals therrof shall tx ~n for:n acceptable to Lender and shall include a standard mortgage
clause m favor ot and m form acceptable 3u Lender. Lender shall have the right to hold the policies and renewals thereof,
and Borrower shall prompdy furmsh to Lender all reneNal nouces and all rece~pts of paid premi~ms. ln the event of locs.
Borrower shal~ gi~e prompt noticr to the insurance carner ~nd Lender. Lender may make pr~•f of loss if not made prompdy
by Borrowcr.
Unless Lender and Borrower othen.~k agrce in wnhng, in~urance proceeds shall be applied to restoration or repair ot
the Property damaged, prov~ded such re,toranon or repair ~s economicatly (easible •rnd the security of this Mortgage is
not thereby impa~red. lf such restorrtu~n or repeir ~s nu1 cconom~cally (easible or if the secunry of this Mortgage woutd
be impaired, the msurance proceeds shall be applied to the sums secureJ by this Mortgage, with the eaccss, if aa~•, paid
to Borrower. If the Propertp is abandoned hy Borrower, or it Borrower fail~ to.:espond to Lender within 30 days from the
date tat~ce is mailed by Lender to Borrower that ihe insurance rarrier of[ers to seitle a cla~m for insurance benefits, Lender
~s aut6otiud to coiiect and apply the msurance procceds at I_ender's optian enher to restorat~on or repa~r of ihe Propen~•
or to t6e sums securai by this ~lortgage.
Unless Lender and 8urn~wer otherv-ue agree m wnUng. eny~ such application ~~f proceeds to pnneipal shall not extend
or postpone the due date of thr monthh~ imtallment~ ref~rrcd ~o m puagraph~ 1 an~ 2 hereof or change Ihe amount of
suc6 mstallmenb. It under patagraph 18 hereof ~he Property n acyuired h~ LxnJer, ali nght, title and interest of Borruwer
in aod to'atr.~• insuranze pohcies •rnd en and to thc proceeds thereof resulung frum damage to the Proper~y prior to th~ sale
or acquisiuon shall pass to Lender to the e~tent of the ~ums ~ecured by ~his ~lortgage inimedia-ely prior to such sale or
acquisition.
6. Pe~esenation and ~lainten~oce of Properly; Leaseholds; C'ondominiums; Planned Unit Developments. Bo: rowcr
shall keep the Propertp in good repair and shall not comrui~ y+aste or perm~t impairment or deterioration~of the Properry
and shall compl~ with the provic~ons of any leace ~t th~~ Mortgage iti on a Ieasehold. If this Mortgage is on a unit ~n a
condomi~~um or r planned un~t Je~~elopmtnt. Borrower ch~ll Fxrform all o( Borrower's obhgations under ~he declaraU.~n
or covenants creatrog or govermng ~he condominium or planned unit develapmcnt, the by-laws and regulatioo~ of the
condorteinium or planned ~nit de~•elopment. .~nd comtituent d~x;umeni~ I( a e-onJominium or pianned umt development
nder is executed by Borrov-er and recarJed tngether w~th thi~ M~rtgage, the covenants and agreements of such ndcr
shall be ~ncorpo~ated mto and shall amend and supplcment the co~enams and agreements a( this Mortgage as if the nder
were a part tereof.
7. Prolection ot I.enders Securfty. It B~~rr~~~er fa~l. ~~~ perf~~rm the coven~nts and agreements contained m thic
Mortgage, or if any a~t~on ur proceedmg rc a~mmrnce.l whicn matcnalh a(ircts Len~er't ~nterest in the Propen~~,
mclud~ng. but nnt lim~ted to. cm~nent domain. inti~~l~cncy. cucle enforcement. ar arrangements or proceedings im•ol~•mg a
bankrupt or deceJent. then 1_ender at Lender', ~puon, up~m no~~ce to Born-w~er, m~~ make such appearances, dishurse such
sums and take such a~uun ac a nece~.ar~~ t~~ protect I.ender's imerest, including. but not lim~ted to. disbursement of
re~sonable ~Ilome~'s fre~ and eniry uM~n the Pmper~~ to make repa~r~..l( 1_rnder rey~iircJ mortgage in~urance at :~
con~fition o( makmg lhe loan recured b} th~~ ~tungagr. B~~rrrHCr ~h ~II pa~• the premium~ reqwreJ ta mai~ita~n ~uch
iruurance in efTect unUl wch t~me as ~he rey~nremenl fe•r .uch imuran:e Ierm~nateti in accordance w~~h B~rrrv-er', and
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