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l. Payment of Pirincipal a~d Intereat. Borrowe~ ahal) p~omptly pay whrn due the principal o[ and inte~eat on the indebtednesa
evidenced by the Note, prepayment and late charges aa pn~vided in the Note, a~d the principai uf and intereet on any Future Ad~•ancrs secured
by this Mortgage. '
2. ~nde for Taxea and Ineurance. Subject w applicable !aw or k~ a wriurn w~aive~ by l.ender, f;orruwer shail pay tu I.ender un the duy
monthly installments of principal and int~ rest are pa~•uble under thr hote, until the Notc ie paid in full, a sum Iherein "Fund~"1 i~ual to one
twelfth of the yearly taxes ~nd assessments which may attain pnority over this MortRage, and ~rouod rents on the Property, if any, plua onP
twelith uf yearly premium instalirrients for hazard insuranrn, pluson~ twelfth of yearly prrmium instullmenta (ar mortg.+ge insurance, i[any,
ull as rex~onnbly estimated initially and from time ta time by I.ender un the busis uf .~ssessments and bilis und rrason~ble cMtimutrs thereaf.
The Funda shall be held in an inaUtution the dea~sits or acrnunts of which are inaured or auarantv«i hv a Fw~rrt~l n~ RIA~P n~p..r~
iincluding I.ender if I,ender is such an institution). l.ender ahall apply the Nunds to pay said taxes. ~-ssessmenta, ineu~~ncr prrrniums and
ground renta. l.ender may not charge for eo holding and applying thr Funds, analyaing said accuunt, or ~•erifying nnd compiling eiaid
asaessments and bills, unless Ixnder paye Borrower intereat on the F unds and applicable law permitx ixnder tu make such a charge. Borrower
and l.ender may agree in writing at the time of execution nf this Mortgage that interest on the Funds ahall be paid to Burrowe~, and unleas
auch agreement ia made or applicable law requires such intereat to be paid, I.ender shall not be required to pay E3urrower any interrat or
earnings on the Funds. l.ender shall gi~e to Aorn~wer, vrithout charge, an annual accounting of the F unda showing credite and debits tu the
Funda and the purpose for which each debil tu the Funds N:+a made. The F unds are pledged as additional serurity tur the awna r:rcured by thie
Murtgage_
If the amuunt of the F unda held by l.ende~, together with the future munthly instaliments of Funds payablr prior to the due dates of taxea,
asarxsmen~s, insurance premiums and grc,und rnnts, shall excred the amount required to pay said taxes, assrasmrntx, insurance premiuma
an~i qround rents as they fall due, auch excess shall be, at Bo~tower's uption, either promptly rep~id /o Borrowrr or credited to E3orruwer on
monthly installmenta of Funda. If the amount of the Funda held by ixnder shall ~ot be sufficient to pay taxes, asaessmentti, insurance
premiums and ground rents ae they fall due, F~rrower shall pay W l.ender any amount neceasary to make up the deficiency w~thin :~0 days
from the date notice is mailed bv I.ender G~ Fiorrow•er requestinK payment therec~f.
Upon payment in lull of all sums secured by this Mortgage, l.ender sh~ll promptly retund to E3orruwer any funds held by l~ender. If under
paragraph lA hereof the Property is sold or the I'roperiy is otherwise acyuirc~i by I.ender, I,ender shall apply, no later than immediately prior
tu ii r 6a1e o~t3le #-'7u~,rriv u~ iLti acyuisiiiu~l Ly i.rn~irr, any fr uniis hriu oy i.rnaer at ine iimr o1 appeicatiun as a crrdic aKainst tne sums secured
by this Mortgage.
3. Application of Paymenta. lTnlrss applicable law pruvides othrrwise, ali payment~ received by l.ender under the Note and
paragrapha 1 and 2 hereof shatl be applied by I.rnder first in payment of amounts payable to l~ender by Korrower under paragraph 2 hereuf,
then to interest payable on the Note, then to the principal uf the Note, and then to interest :~nd principal un :~ny Future Advances.
4. Chargea; Liens. Korrow~ r shall pay aU taxrs,:isse~smrn~~ and uther rharKes, fines and im~~sitiuns attnbutable to the Property which
ma}- attxin a priority o~•er this ":11ortKagr, .ind Icasehuld payme~ts ur Kn~u~id rrnts, if any, in the manner pr~vidi~l under paraKraph'L herevf or,
if nut paid in such manner, b~• RorrnM•er makinK payment, w~hrn dur, dirw•th• t~~ ttit• p.~y~~ thrrc.~f 1{orru~+•E•r.hall prumptly furnish to I.ender
all notins of xmuunt~ dur under this par:+~raph, and ~n thP.~vrnt R~~rruw•er shall makr paymrnt dire+•th•, Ii~~rn~M~er sh.+ll prumptly furnish to
l.ender re~ripts rvidencu~K such pa~•mrnts I;urruwer sh:~ll prumpth• di.~~harK.• :in~• lirn ~•hich has priurit>• o~~t~r th~. ~1ur[kaKe: pruvided, that
Borrower shall not tx~ r~Y~u~n~d tu descharKr am• such lu~n su I~~nK u~ liorruK•i•r shall a~rc~~ ~n wnt~nK t~~ the pa}•nu•nt nf th~•ubl~K,ition sPCUred by
such I~rn ~n :i manncr acct•pt:-bti~ tu I.t•~~df~r, ~~r shall ~n ~;~NN1 faith c~~nte :.t sui~h I~r•n bp. ~~rdrft•nd i•nG~n•rm~•nt ~if sui•h lit-n in, le~~al pr~K•rt~elinKs
whirh uperate to prc•~~ent thr ~~nfurci•mt•~rt of thr ltrn ~~r Curfr~turr uf tht• 1'r~~E~•rty or an}• parl lhc•n~~f.
S. Nazard Insurence. Iturn~w~•r ~h.~ll krrp the ~mpru~•rmrnts nuw• ex~shnK ur herraftrr erec•tc~l un the 1'ruperty insurt~cl aKainst loss b}•
fire, hazards includi~l H•ith~n the term "f•xtendtd cu~~eraKr." and such e~thrr hazards as Lrnde•r m.iy rrywn• ~nd in such nmuun~ti and forsuch
{~ri~Kls as I.ender ma~• rri~u~rt•; {rru~~ideY~, that Lende•r sh.~ll n~~t rryuire that the amnunt +.f suc-h cti~vrr:+~r rxct~~1 tha~t amount uf cuveraKe
ra~yu~rc~c1 to p.-~• th~~ wms ~trurc~l b~• th~~ :~1~~rt~;:iKc•.
The ~nsurancr ~:+rrit~r prucid~nk th~~ ~n.ur:~nrr .hall iH• chu.~•n i~~~ fi~~rr~~we•r wh~~•c~t t!~ appn~~:+l h~• 1.~•ndrr. pr~~~ tdwl. that su~•h appn~~a)
sh:~ll n~~t 1~ unn :~sunahly ~c~thh~•ld. All pr~•mium. ~~n ~n~ur.~n~ ~• p~~lu~rs ~hall iN• p:nd in th~~ mannrr pr~~~•~d~vi unii~•r p:~r:t~;r.tph ~~ hF•rr~~f ur. if
not paid ~n such m.~nnrr, by fi~~rruvc~~r niak~n~; p:~}mc•nt. ~ahrn dur, dirw tlv t~~ th~• ~nwr.~ncr cam;•r
All insurance ~,hcir~ :ind rt~nrw•al~ thenyd sh:+ll t~r in furm aci•~ptablf• tu 1 A~ndrr and shall ~ncludr a standard murtKaKe clause in ~avor of
a~nd in furm acceptable to I~~ndrr. 1 k'£1l~f~r sh:il~ h:~~•e thr rtKht t~i h~~ld thr puhru•s;~nd rrne~w.~ls .hrrcn,f, and Finrruw•Pr sh:ill prumptl~• furnish G>
i.endrr all renewal noUcrv .ind all rt~~ript. uf paid premiutn+. In the• r~-e~~t uf lu.s. fiurruw'er sh.iU Kive prumut nutice G~ thr ~nsurance carrier
and I.ender. i.ender mciy m.ik~~ pnN~f ~~f lutic if nut madF~ pmmptl~• hy- li~~rruwrr
l`nlr.s I.rndE•r and fi~~rruwrr ~~thcawvisi• aKrrr ~n wntinK. ~nsuranc~• pNK~~ti~ds shall tx• appl~rd to resturatiun nr repair of the Property
d:imaKed, pru~~idcd such r~~.turaU~~n ~~r repa~r ~~ ~ti~un~~mu-ally fe:isiblr and thr se~•unh~ of this ~1ortK.~Ke is nnt thereb~• imp.iirrd. If such
rrsG~ratiun or repair ~s m~t e~ unnm~~•ally ft~as~hiE~ ~ir ~f thr sr~vnty uf this ~1urtK.~Kr w'uuld I~ei:npa~red, the insur.+nm prcrc•rcdsshal! beapplied
to the sums sPCUred by this ~1nrt~;:~K~•, w-ith thr ~•x~-~•s~, if an~ . pa~d tu K~~rruw~Pr. If the !'ro~rty is aban~iuned by Burruk•er.or if FA~rrow•er fails tu
re~pund ta 1.~•ndrr with~n :p~ d:~~~~ fn~m th~• d:~tr nuU~~r ts ~n:ult~cl h~• I.~•ndrr tu li~~rn~w•er that tht• insurance carrier offers to settle a claim for
insurance benefits. I~•r.der ~ti authunzer! t~~ i•u1bY•t and :-pph~ th~• ~n~urance pr~K•tYy1. at [.c~nder~s upi~un either to resturatiun ur rep.i~r of the
Yroperty or the sums s~~ured by th~ti ~1r~rtKaKe
l'nless I.rnder:ind li~~rruw~c~r othe•rw~sr .+Kn•f• ~n w~ntinK, any such apphc:tt~un uf pr~x-c~is tuprine•~pal shall nutextend or postpone thedue
date of the mnnthly installments n•ft~rred t~~ ~n par:+Kraph~ t and'L hrrt•uf ~~r ~•h~r.~e the amuunt of such ~nstallments. If undrr paraRraph 1R
herenf the Froperh• ~s acquirtri h~• l.e~nder, :ill nKht, t~tlr.~nd interest ~~f lturrower in and to am• ~nsurance policirs and in and to the proceeds
thereof resultinK frum damaKe to f'r~~perty pnur tu thc tiale ~~r a~-yu~sitiun sh.+ll patis tu l.rnder to the extc•nt of the sums secured b~• this
tilortKaKe immediately pnor to such sale or acqwsitiun.
6. PreBen~ation end !Vlaintenanceof Pro~-erty: l,c•xseholds; ('ondominums; Planned Unit Uevelopmenta. Borruwershall keep
[he F'ropeR~• in K~xid rep:nr and shall not commit w~a,te ~~r Frrm~t ~mpairmrM or drtrrioratiun ~~f thr I'ruprrt~~ :ind shall comply w~tb the
pro~•isiuny uf any Irxsi• ~f th~v !11~~rt~;aKt• ~s un a I-r:~st•h~~ld if this ~7+~rtKaK~~ iti on a umt in a cunduminium ur ~ plannrd unit development,
F3~~rruwer chall perform aU of Hnrr~~vrFr's ob1iK:~tiunc under the dcrlaratiun nr cuvrnantv ~•re:~t~nKnr Kuvern~nK the condominium or planned
unit devrlupment. the bp law•~ ancl reKulationti ~~f thP ~•~~ndum~~~um or planned unit development. .+nd constituent documents. If a
rund~~minium ur planned unit dF•~•elupmt•nt rider ~~ t•x~•~•ute-ci by fi~~rn~wer and rtti•ordcYi t~~Kether w•~th this ~lorlgaKe, the rnvenanex and
:~Krr~~mrnt~ nf sui h ndrr shall k~r ~nn~r~u~r.-ti~1 ~nt~~ and sh:~ll anu•nd and ~upple~meM thi~~•ucrnant.:+nd aKn~mrnts uf this hfortKaKr as ifthe
nder we•re a p:~rt hemuf.
~. E'rotection of Lender'8 Security. If Borrower fa~ls k, perform the n~venante and aEtreementa contained in thia Mortgage, or if any
action nr proceeding ie commenced which materially affecte Ixnder'e intereat in the Pruperty, ir~cluding, but not limited to, eminent domain,
ineolvency, code enforcement, or arrangemente or proceedinQa involving a bankrupt or decedent, then I.ender at I.ender'e option,upon
notice to Rormwer may make such appearances, disburee auch sume and take auch action ae ia necessary to protect L.ender'e intereet,
including, but not limited to, diebureement of reaaonable attorney's leea and entry u~n the Property to make repaire. If I.ender required
mortgage ineurance as a condition of making the luan aecured by thiH blortqage, E3orrower shall pay the premiums requireei to maintain
euch insurance in eff~t until auch time as the requiremrnt for auch inaurance terminatee in accurdance with Borrower's and (.ender'e
written aECreement or appiicable [aw. Borruwer ehall pay the amount of all mortgage ineurance premiume in the manner provided under
paraRraph 'l hereof.
Any amuunts diebursed by (.ender pereuant G~ thie paragraph 7, with intereet there~m, ahall 1-ecome additional indebtedneee of
Borrower secured by thie Mortgage. Unlesa E3orr~~~er anr; I.ender agree to ~~ther terme of payment, auch amounta shall be payable upon
notice from Ivnder to Bormwer requeeting payment thereof, and »haU bear intereat from the date of disbureement at the rate payable from
time to time on out.~+tandinQ princip~l under the Ir`ote unlesx payment of intereet at such rate would be contrary to applicable law, in which
event such amounts ehzli bear intereat at the higheat rate permiasible under applicable law Ivothing contained in this paragraph 7, ahalt
require I.endrr to inrur any expense or take any action hereunder.
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