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l)tv~fuk~t ('ovt~~!vts. Hurruwer anJ I.cn.trr c~~~cn:~nt an~l aKrrr r~ (c,lluwc:
1. Pa~menl ot Principal aod IMeresl. {t~~rr.~HCr ~hali prumrtly pay ~hcn duc ihr piincip~l i~( anJ imcre~l un thc
indebtedness r~iJcncrd hy Ihe No1r, preps)'mrnt and latr char~c~ a. p~oviiied ~n ~hc ho~c, :~nd the prinripal ~~( and imrreat
o~ any Futurr AJvanrre sccured b}• thn Mortgagc.
2. Funds tor Taxes and Insun~ca Subjec~ ~o applicable law c-r to a writ~en warver by Lender, RorTOw•er shal) pay
to l.rnder on ~he day munihly mctallmrn~c ~~f principal anJ imeretit are pay~able undr~ the N~,te. until the tiute ~~ paid in full.
a sum Iher~in "Funds"1 equal Io ~~nc-IHClfth o! Ihc ycarly ta~cti anJ a~~~c~m~nt~ which mr? atlam pn~~rily uvcr Ihic
I~tortgage, an.l gruund rents on the Prope~ty, if an~•, plu` ~~ne-tweU~h ~~f ~•rarly premi~mi ~nstallmentc for harard imurance.
ptus one-tv-el(th of yea~ly premium installmems fi~r mortgage insurancr. if any, all as reas~~nahly e~timated inhiall}• an~l (rom
time to time by 1_enJer o~ fhc b:~ti~ of a~~es~mcnls anJ hil!.; anJ rca~un~hlc ectimale~ thcreof.
T'~e Ft:n;3~ sha!! ts~ he;u in 3rt ili\Ifllili~iii ft~c d~~r.~s~tti .i~ e.~~~iii~i~ +i( wii~~li a:z i~iw~eJ .~t gi~a~:~~iiec:t ~it a f~c:ic~at a~r
statc agency lincluding I_ender if I.rnder i~ surh an ins~i~utionl. 1 rnder ~hall appl} Ihe i=undc to pa~~ tiaiJ taxc~, atilessments,
imur~nce premiums and ground renh. 1 ender ~~i~y not charga tor .~~ hi.ld~ng anJ apply~ng the Fun~1ti, anal~•~ing ~:ud account,
or verifying and compiling said atises~mrnt~ and hill~, w~less Lender pay~ Borrower in~er~st un thc Funds and applicahle law
permits I.ender to make ~urh a charge Barruwer and I.endrr I11J1' J~;fl`l in wnting at thr time ~I executi~n of this
Mo~tgage Ihat interest on the Funds shall hc paid t~~ BOffUK"Cf, JII/I unlc~ti such :igrecmcnt h madc ~r applicahlc law
rcyuires such interest to hc paid. Lcndcr sh:~ll nat tx reyuirr~ ti• pa~ Rormwer am in~crest or carnin~;~ on the Funds. (.cnder
+hall gi~•e to B~~rrowe~, without rharge. an annuai acruunt~ng of ttie FunJc shuwing credits an~i dehhs to the Fundc and the
purEx~se frr which each debit li~ the f=unds W:11 maJr. 7~he Fun~1~ arr pledg~d as adJ~Uimal ~ecurit~~ for thr sum~ ~ecured
ny~ this Morlgage. '
lf the amount of the Funds h~ld by I_enJer, toge~hrr .~ith th~ iuture monthl~~ inttallmrMs of Fund~ (1:l)':lhlC prior to
the due dates of ~~xes, a~~essments, insurance premium~ :~nd gr~~und rentc, shail e~ceed thc am~unt reyuired to pa~ ~aid ta~es,
assessments, insurance premium~ and gruund rent~ a~ thr~ fall due. ~uch e~cr.~ .hall be. ~t Narrower'~ optu~n, either
prompdy repaid to Borrower or credited t~~ Borruwer on mun~hly imtallmrntc of F=und,. If the amc~unl of the Funds
held by Lender shall not be wflicient to pay la~es, acse~timcnts, imur.~ncc premnm~ti an.l Aruund renic ec thr~~ fall duc,
Borrower shaU pay to'Le~Ner any amount nece»an tu make up ~hr drfic~enc~ aithin 30 Ja~~s fr~~m the datr nc~Uce is msiled
by Lender to Borrower reyuesting paymcnt thereo2.
Upun payment in full of all sums securrd by th~. M~.r~kagr. 1 endcr tihall promptly ref~md tu R~~rn~HCr an~' Funds
held by LenJer. If under paragraph 1R herr~~f thc Prapcn~ i~ ,~~Id or the Prupcrt~ u othen+•i~c aryuircd b~• I cr~der, Lender
shall apply, no later than ~mmediatcl~ prior to thc .alc ~~f thr Propert~• or i~s acquisit~on hy Lcnder, an~ Fl~nd~ hetd by
Lender at the Ume o[ application as a crc~it against thc sum~ secured by th~c !1lortgagr.
3. Application of Paymrats. Unlca apphcable law~ pmvi~les Mhcrwitie, all payments rcrcived b}~ I.cnder unJer the
Note and paragraphc I and 2 hereof tihall tx apphed by Lrnder fir.t m p.-~ment ~~f amuunts p:1~~:1~1IC 1~i l ender b}~ Bc~rrower
under paragraph 2 hereof, then tu interest payable on thr tiutr, then ti~ thc principal of the Nut~, a~i.i thcn ~~~ intcrest and
prmcipal on any Futurc Advance~.
~t. Char~{es; Lieas. Borrower tihall pay :dl t.~~«. .~,.r~~m~nts and i~thrr chargr~. fin~ti anJ imputicUunc ~ttr~b~~tahle to
the Property which may auaiu a pnority over this ~turtgage. :~nd IeaschoW ~syments i.r ground rents, if an~•, in the manner
provided unJcr paragraph 2 hereof or. if nut pa~d in wch m~nner, h~ Born~wer making pa}•ment. when due. directly to the
payee thereof_ Borrower shall promp~l~• furni~h to Len~ler all not~ces o( amount~ due under th~s paragraph, and in the e~~ent
Borrow~er shall m•rkc papment d~recU~. H~~rmHCr ,hall promptly fu-n~sh ~~~ l.rndrr re_-eipts ev~drncing such pati•ments.
BOlfOK'Cf Sf13II Df0lilDll~' lI1SCF13(QC 3nY I~cn ti~hi: h hac nnnnt~~ nv~•r rh~c !~1nrro:~nr- nr~~w~lr~l rh:~~ Rnrr~wrr chall mif be
. . . . - i
reyuired to discharge an}' tuch lien so long as H~•rruHer ,hAll agrrr in ~rhing ti~ the pa}ment of the oblig~tiun tiecured b}•
sueh lien in a manner aeceptable ~~~ Lender, or tihall in g~x~ f:+ith contr,t tiuch lien hy. ~ir ~lefen.i enfe.r_ement c.f such lien in,
legal prcxeed~ngc Hhich operate to prevent the rnfurccmem of th~ I~rn s~r forfeiturc ~~f the Pr:~pert~~ ~r an~ part thereof.
S. Haz~rd Insur~nce. liorrowrr shall I.eep the impru~~cment. now c~i~t~ng ~~r herrafter crcrtcd on thc PruE.er~y mwrcd
aga~nst loss h}~ firc, hazardc includcd w•i~h~~ Ihc tcrm "~~tcndcJ rovrragc". ami su:h rnhcr hazard~ a~ Lcndcr ma~~ rcyuire
an~l m such amounts and for such perioclti a~ Lcnder m~y rryu~re; pnn ided, that LenJer tihall nut reyuire that the ami~unt of
such roverage exceed that amuunt of ro~erage rrywred to pa~ thr ~umti .ecurrd ~}• thic !~lorlgagc.
The insurance carrier providing the insurance sh:~ll be chi~~en b~~ Borruwer subject to appro~•al bp [.ender; provided.
that such approval sh~l nat be unreasunanly w•ithheld. All premium. ~m insurance Fx~iicies shall tx paid in the ma::ner
provided under paragraph 2 hereof ur, if nut paid in such n~annrr, hy~ B~•rrower making payment, when due. d~rectl~• t~ the
insurance carner.
All insurance policieti anJ -enrKals there~f shali be in form arre~+t.ibl~ to I en~i~r and sh;~ll ~n,ludr a~~andard mortgage
clause ~n fa~•or ~f and ~n furm accepiahle t~~ I.rnuer. I_esidr~ .h.~ll h:ive 1he right t~~ h~~ld the p.~lirirs anJ reneual~ there~~f.
and Horruwer shall promp~ly furnish to I.ender all renewal ne~tice~ ~n~i all receipts of paid prem~um. In the e~ent oi I~~t.
Borrower ,hall gi~•e prompt noticr t~~ the in~ur:,nre carnrr .,nJ l er.Jrr. Len.lrr ma~ mal~e prek~t c~t loss ii ne~t m.~de pmmptl~
bp Borrower.
~Fnless Lender and Borrowcr otherw~,r agrer ~n :+nt~ng. im,uranic prrrecd. shaf~ Ix applied ti~ rc.torati~n ~~r rep.iir ~~f
the Property ~iamageJ, prov~.leJ such re~turatiun ur r~~air is ec~~iz~~mic:~lh ira~ihlr :~nd tt-r secunt~ of th~, M~rtL.~ge i~
not thereb}' impaired. 1( such resturahi~n or rep~ir is nrt rcun~~mi~:~ll~ tr.,ti~hle or ~( the se~unt}• ~•f thic ~ic~rt~;age w~~uW
be ~m~a~red, the insurance pr~eeJ~ shall be applied t~~ the cumti .e~ured h; thi~ M~~rtgage. ~~th the e~cess, i( an}•. pa:d
to Borruwcr. If thc Propertc is ahand~~ncJ h} Burruwcr. ~~r it H~xmwcr (a~!. ti~ rcti~~n~i t~ Lcnder within 3(/ da~~ tmm thc
d~te not~ce i+ m~iled by Lender lo Borrower th:,t the imurancc c:+rner ~~ficr~ t~. xt~le ;~ cl~im fe•r :m~rance txnetitti, 1 enJer
i. au~honzeJ to coiiect and appl~ the imur~n~r pruceeds at LenJ~r~. uptmn euher tu resiarahun ar repair ~f thr Prupert~
ur to the Sum> >ecured h}' ~his blortgage.
Unlesc Lcnder and Borrower cNhen-i.r agre~ ~n unhn~. ~n} such appli~aiiun ~~f pnnecd~ to ~+nncipal ~h:~ll not e~tend
or p~~stpone thc due drtc of the m~mthh~ intitallmrntc rrfcrrcd t~~ ~r paragraph. 1 anJ '_ herc~•f i.r chan~c thc am~~unt czf
such inatallmenh [f under paragraph IR hereo( thc Pru~xrt: i, ~cyinrrJ h~ LenJrr, all nKht, t~tl: and intcrest ot N~rmKCr
in snd to an} in~uranrc pol~r.cs and in and ti~ tnr pnkccd. thcre~~i rc~ult~ng frc~m dac~z:ig~ t~ thc Propert} pn~~r ia thr ~ale
or acyuuition ih:,l! pass tu Lender to the e~tent uf the ~umti ~~•_urrd h~ thi. ~l~~rtg~gr mimed~ateh prior t~~ wch ~.~le or
acyuisition.
b. Presenalion and ~taiMenence of Propert~; I.easehold~: ('nndominiumti; Flanned l nil 1)e~e!opments. Fi~~rro~~~r
shall keep the Property in gcKxi r~pair and ~hail not corrmit Ha.te ~~r permn ~mpairment or deterioration of the Prorert~
and snall compl)' with thc provisions of any' lease if Ih~~ ~turte.+g~ ~~ un a 1~-:~schuW. 1~ thi. ~1i~rtgae~ n~.n .~ tinit in .~
~on~omimum ~~r a plannrd un~t Jrtirlupmcnt, Borr~~wrr ~h:~ll E~rrt~~rm all ~~t Burr~~ticr~s ~~hligations undcr the drrl.,ratir~~
or covenanls creat~ng ur g~~vCrning thc ci~r~d~+minium ~~r rlanneJ ~init dc~elupment, the b~•-lawti anJ rr~;ul~u~~n. .~f thr
c~,nJ~~minium or planned unit Jr~eiopment. .~nd c~,mtituent ~lurumenn It a cun~lominium or planned i~nit ~ir~rl~~{~m~n:
ncler i~ executed by BorroHCr an3 recorded tugethrr ~ith the. ~t~~rtg.~gr. Ihr c~~~enantti and agreemrnt~ ~~t ~urh n~ler
shall oe ~ncorpo:ated into and Sh.~ll amend :~r.•1 tiupplement the c~~ticn;~nt~ an~'. :i~rcrment~ ~f th~~ Mi~rt~age a~ if thr ri~lrr
~erc a ~-art hereof.
7. Protection of I,enders Security. If R~~rr~~~er fa~l, ~~~ prrt~~rm the c~venar,t~ c-n~t ngreements :~~ntained in thi.
~furtgage. or if an}' achun ur pr~xeed~ng :. ce~mmerice~i uhich m;,trrialh .~tT:ctti Le~~~fer'. ~mere~t in thr Pr~~~rn~.
~r-clud~ng. but n„t limi~cd t~~. rmincnt domain. in~~~hcnc~. ;r.dr rnt~~r.rmrnt. ~~r :~rrangemcntc i~r pr.~cccdinks invi~l~ m~ a
bankrupt or dr:edent, then Lender at I en~er', ~,pt~~~n_ u~~n n~~tice t~~ tiorr~~wrr, m;i} m:~ke such ap~xarance~. Jnhune ,~~ch
Sums and take such actiun :~~ ~s ncrcti~ar} tu pmt~rt I.cndcr'c int~re~t. inclu.ling, but nat IimitcJ ta, d~~hurscmcnt ~~f
reasonahle auome)'~ fces ar~d cnUy ~ip~~n thc Pmpcrt~ t~~ makc rcpair~. I( I.ender rryuired morlgagc imuran~e a~ .~
cunJ~hi~n of mak~n~ the I~an w:cure~i hc ~h~~ ~1~~rtg:~~r. B~~rn~Hrr ~h:~ll ~ay th~ premium~ requ~re.i ~~~ maint.~3n ~u.•h
~r.sur~nee in etlect until tiu~h Ume a~ the rey~~irrment I~~r tiuch ~n~uranrr tcrminate~ in accordarice w~th B~~rruwer', :,nd
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