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tiurrowe~ and I~ender cuvenant and a~ es folluws:
1. Payment of M'incipal and lote~est. Borruwer aha+ll promptly pay when due thr principal ut and ~ntrreet un thr ~ndrhtrdnrae
evidrnced by :he Note, prepayment and Istte cha~gc~u ae providrd ~n thr Notr, and the pnnc~pal of und intrrret un any h'uture Advnnceaxecured
by this Mortgage.
2. F unds for Tuxee and insurance. Subject u, upplirublr i.~w or u~ s wnttrn waiver I~y I.ende~, Fiorrower ah~ll yay~ tu 1 w•ndrr un the duy
manthiy installmenta of pnncipal nnd ~nterrat are paiyuble undrr thr Nutr, until thN Note ~a p:~id in full, a sum 1 herrin "F und~"- ryual to onP
lwelfth of the yrarb lanes and axsrxxmenta which ms~v attain priuritv uvrr lhiA Murt~asre. and ~rround rpntx un thr Prunr-ty. if ~~~v; rluo nnE.
:welfth of yeurly prem~um inatxllments for hazard insuruncr, plus unrtwrlfth of ye~rly premium ~nstalLnenU+ (or murtgagr inyur:ince, i( any,
all ae rrasona6ly estimated initiully and from time tu timr hy I.rnder un the bas~s uf assr:~.,~nrnt~ und bilis and rrasunublr esum.+trn thrrtr~f.
The Funda ehall br held in an institotion the depua~tx or accoun~v uf which are ~naurrd ur guar~ntr~d by a FedPral ur titate agrncy
lincluding I.ender if i.ender ie such an institution). I.ender aha~ll f~pply the h'undx to puy sa~d taxea, :+ssrxer~rnte, inaurs-nce prrmiums and
gruund rents. l.ender may not charge fur ao hulding ,and appl~inK the M'unds, s~nalyzing said uccuunt, or verifying and cumpiling xa~d
asaeanmente and bille, unleee l.ender paya Borruwer intrreal on the f~ undx and uppGcable luw ~-rrmita l.rnder tu make auch a ch:~rge. ltorruwer
und I,ender may agree in writing at the time of execu~ion ~~f thie MurtK.+gr the~t interrst un thr Funde ahall br paid to f3orruwrr, anJ unlee-s
e~~ch ag~eement is made or applicahle law requirex euch intrrest u~ be paid, l.endrr shall not I,e reyuired t~, pay tior-ower any intrreat or
earnings on the F unde. l.eader ehall give to Borrower, withuut chargr, an a~nual accY,unting of the F unda shuwing crecl~tx ~nd debitei to the
F unde and the purpoae for which each debil l~ the Fundc: way madr. Thr Fund, arr pleclgrd as ~~dditional acYVrity fur thr xuma securrd by thie
Mortgage.
lf the amount of the h unde held by lrnder, together with the futu-e munthly -nstallnienGg uf Funda p:~yable pnor to the dur datea of taxes,
aaaexements, inaurance premiume and ground rents, sh:~ll ex~ r~ thr am~+unt rryuirc~l tu pay said taxee, aaseasmentx, ~nsuran~r premiums
and ground renta ae they fall due, auch rxcesa eh~ll be, at Ho~TOwer's optiun, rither prumptly repaid to Kurruwer or credited u~ Borrower on
monthly inatallmente o! Funde. If the amount of the F'unds held by l~ender ahall not br aufficirnt to pay taxea, aaaee~mrntx, inaurance
prnmiume and ground rente ae they fall due, liorruwer shall paV u~ I,ender anv amount neceaxary to make up the defi: irncy within :i(1 dAye
from the date notice ie mailed bv I.ender G~ ftorruwer -w~ue~t~nK pavment therrof.
Upoo payment in full of all suma sec-und by thiR MortKage, I~ndrr sh.~U promptly refund to Fiurrower any funds hrld by Ixnder. Itunder
paraRraph 18 hereof the Yroperty ia sold ur the Pruperty is otherwi~ acyuirrd by I.ender, I,endrr sh.ill upply, no later than immediately prior
to the aale of the Property or ita acquisitiun by I.ender, any F ~nds hrld by I.ender at the timr of applicatiun as a crrdiL aKainst the auma secured
by thie Mortgage.
3. Applicalion of Paymente. Unless appfic:~ble law pnrv~drs othi•rw~se, all payments rrceivrd by Irnder under the Note and
paragrapha 1 and 2 hereof shall be applied by l.ender first in paymrM uf amuunL~ pay:ible io I.rnder by t~rruwer under paragraph 'L hercof,
then to intereat payable on the Note, then tu the pnn~•~p:-I of the Nutr, and then to ~ntrrest and pnnc~pal un any Future Advancra.
4. Charges; Liens. Borrowrr shall pay .il) taxrti, a.sr.snwnts :ind ~~th~•r c1~a~Krs, finrti and ~mw,tiit~uns attnbut:iblF to thr Pro~xrty which
may atta~n a priurity u~•rr thts blortKaKr, and le :-srhuld pay~ments ~~rKn~und rrn[c, ~f:~ny, ~n th~• mann~•r pn~~•id~~ci under paraKraph'l hercK~for,
if not paid in such manner, by I;urrowrr mak~nK paym~•nt, whrn dur, d~rw tly t~~ thr p:~yrr thi•rrr~( ftnrruw~rr ~ha!1 prumptly furnish to Ixnder
all notices of .imuunts dur undrr th~s par.iKr.~ph. :~nd ~n thr r~~rnt finrruwi•r sh:~ll m:~k~• p:~ymi•nt dirri•th• KnrruwNr sh:~ll prumptly fumish ui
Ixnder rrcripts evidf•ncinK sucF~ p:~}•rnrntz It~~rruK~rr sh:~ii E~n~~nNth• d~s~~h:~rKr :~ny lit•n wtlu~h t~:~s ~snunty ~~v~~r th~ti 11urt~:~Ki~, pruvidrd, that
liorruwer shall not Fx~ rrywn~el tu disch:~rk~• an~ ~uc-h h~•n ~u I~~n~; a. Ft~~rn~w~•r ,h:~ll aKrrr ~n N•nt~nk tu th~• papme•r2t uf thr~~b1~K.~t~nn secvrrd b~.
wurh lirn in :~ mann~•r ar~•rnt:.hl.. tn ~~•n~~s.r nr eh:~l~ ni ai.uu~ (.~d~~ ~..nt...t ~u. l~ I~an I~c ..r~1~.f~.n~~a.nfnr~~..m~.n1 nf.~~.•1~ I:. 1.. ..1 0..~.,...IG..
~ _~ - - --- - - - .. . . .. -. ~ ~ . . ....~..
which operate to prcvent thr ~~nf~~n•t•rnt•nt ~~f thi• I~~•n ~~r furf~•itun- uf 1ti~• !'n~F~~•rtc ur :~ny p:~rt thf•ny~f.
5. H~zard Inaurancc•. Fiurn~wi•r ~hall kt~•p th~• impn~~~~•rn~mt. n~~w i~x~~t~nK ur hk•rraftrr ~•r~~•trd un the• !'ruprrty ~nsurrd aKainst lus.4 by
firr, hazards ~nclud~~ ~vrth~n the t~•rm "~•x:rnd~Kl rucrr.~K~•,~~ ,~~i .~~~r, ~~th~~r h:u:irda :~+ Lrnd~•r ma~~ rr.~wre :ind in such amuunts::nd for auch
pcriuds .-c I.endrr m:+~• rf~yu~n•, pn~~id~+i. that la•n~1~•r shall m~t rrc~uin• th:~t thr am~,unt uf such cti~~~rr:+Kr rxctYd that amuunt of covrraKr
reywred tu Nap tht• ~um. ,r~~unri hy th~~ :~1~~rtK:~Kt•
TT~e insurance carnt•~ pru~~~diri~; th~• ~ri.ur:in~ ~• ~-~.Ji h~• ~ h~~..•n f~v It~~rn~w~•r .uh~~•~~t t~~ appruc:~l tn• i.~•n~lrr. {~n~c~~lw1. th:~l w~ h uppn~~•:~I
~hall nnt be unrras~rnahh~ w~thh~•Id All pr~•nuwn, ,~n in>ur.~m ~• p:,lu n•..ti.~tl !N• p:u~i in th~• mann~•r pn~~ ui~•~i und~•r p:~r:~~r:~~rh'~ he•nr~f ur. ~(
nut p~~d ~n su~h mann~•r, hy k~~rr~w~~r m:~k~n~; j~:~~rn~•nt, uhe•n dur ~1ir~~~ tl~ t~~ th~• ~n~ur.~n~•e~ ~:+rn.•r
All ~nsurance ~Hili~•iNS :~nd rrnrw•.+1~ th~•rruf ~h:~ll Ik• ~n [unn :~~-~~~•pt:+bl~• t~~ I ~•ndrr and shall ~n~•ludr a~t:~ndard murtKaK~•ci:~usr in favoruf
:~nd m[orm .+ccepWble t~~ 1 rndrr I.e~nd~•r ~hnll h,+ct• t!~r n~;ht t~~ h~~bi th~• p~~h~ ~~•~ nn~I f~41PN'.1I5 (!lPfP~~~.:~f1ll K~~f~~~N'PC V}1;fII [)f~qTlOlI~' fUlOlti~l G~
~.[~nder all renrwal nuticrv ,~nd :~U rr•~~~•~pt. uf F~:isd pn~~n~uni~ In th~• ~•~~•~~t ~~~i~~,~ fi~~rn~~n•rr si~:~ll K~tr• prurnpt :inhct• U~ th~• ~n~ur~ni~r c:irrirr
and I,ender I,ender m.~y m.ikt• pr~Nd ~~f I~~s+ ~f nut ~nadr prnrnptly~ hti~ fi~~rruw~•r
l'nl~s l.ender and Fiorruwrr nthrrw~ixf• :~Krf•~• ~n ~cntiuK. ~n.~r:~n~•~• pn~ ~•e•d~ shall t~r• appltrd tu restr~raUun ur rep:+ir uf thr 1'ro~rh•
damaKe~i. pro~•idtd yurh rr~G~raUnn ~~r rt•p:ur i~ ~•~ ~~n~~rnu:~ll~• li:+•~hl~• and thr rt~~unt~ uf thi~ !11nrtKa~r ~y n~,t thrrebt• impairrd. If auch
rryu~ration ~~r repa~r ~s not ~K•~~numu•ally f~ :~siblt• ~~r ~t t}u• ,t~ unt>• ~~f thn ~1urtK:~Kr w~~uld fw ~:np:urrd, the tntiuran~•e pr~K•r~~+shall t~rappLrd
tu thrsumsarcurrd hy thiti ~1urt~;~Kt•, w~th the•~•x~ ~~.v. ~f:~ny, p:~~d tn ISnrruvcrr If:hr• Ynr4x•rt~• ~Sah:~nd~~nrd by f~~~rtuNrr.or~f fS~~rruwerfailsGi
re~pund to I.endrr within :i~~ d:~p, fn~nt thw ~i:~le• n~~Ui'r i~ ma~1~vl ht~ I,~•ndrr U~ Ii~~rn.~+~•r th:+t thr ~nsuranct~ camer nfferw tu tirttlr a claim for
ineurance benefitx. I.Pnd~r ~s :~uthuncrd tu ~~uilr~ t,~nil ap~~i~ th~• imur.+nre~ pnN r~•~1. nt I~•nd~•r'c ~~ptu~n rither tu rr•tit~~raliun ~~r rrp:nr ~~f the
Pruperty ~,r the sums secure~i hy th~s '~1~~rt~;:+y;~•
Unless I~ender ~nd Fi~rrruw•rr ~,th~•r~c~sr :~~;n•r in wnUnK.:~n~~,uch :~pplu :~uun uf pr~N t•~•ds tu pnn~•ipal sh:~ll n~~t extrnd or p~~t{x~nr thPdur
date o! the munthly intitallmi•nts n•frrr~•~: tu ~n p:~r.:~;r:+ph. I and ~ 4~rrt•~~f ur rh.uiKr th~• :imuunt of wu~•h ~nst;~llmrnt::. If under paraKr:iph Iri
hereof the Pmperty is acquirrci h~• 1~•ndrr. :~11 nKht, utlt~ and mte•r~•st uf fiurr~~w~•r in and ir~ :in~~ uitiuran~•e {H~licirs and in and to thf~ prrMrcds
thereof reaultinR frum damaKe tn 1'roprrty pnnr tu thr val~• ~~r ;u~ywsitn~n sh.+ll pasti Gr 1~•ndF•r [o thc~ rxtt•nt of thr sums securcrl by this
~~lurigaKe immediateiy pnor tu surh salt• or :~rqwti~twn
6. Preaenation and Naintenanct•ot1'r~~pi•rty; L~•u~c~•hold~.;('unduminumy; Nlnnned l'nit Developmente. t9urrowerahall keep
the I'roperty in Ka,d rep.+~r and vh:~ll n~rt cumm~l aa.(~• ur {N•rmit unp:urmi•nt ~~r dt-trn~~ratiun ~~f thr 1'n~pPrt~• and shaU comply w~th the
pro~•~Kiuns of any lea~t• ~f this !11~~rt~;nK~~ iti ~~n a I~•a,rh~~1~1 If th~~ ~t„rtK:~K~' i. ~~n a an~t ~n a i•undum~n~um nr a planne•d un~t development,
f3orrower sh:~ll perf~rrm all nf ltonuwrr's ~~bG~;:iti.m~ ~n~i~•r thP ~1w•Iar.~Unn ~~r ~-~~crnanlti ~•n•ahn~;or {CovermnK :he cundumin~um or planned
unit development, the b_r• I:~w•s and reKul.itu~ns nf thr rnnd~~m~n~um ur piannttii unit de~~~•lupment, and crznetituent d~x~umrntx If a
cundominium or plannrd unit d~•~~r•lupmrnt n~1rr ~s ~•xetivt~.l h~~ Iw~rr~~wi•r :+nd reti~~~rd~y1 t~~K~•th~•r w~~th this :~tortKage, the n~venantK and
:,~rPrmrr.ts uf sa~h nde•r sh:+il iN~ ~n~~orp~ ~r:~t~•~1 int~ ~:~ n~l .h:ill :~in~•nd ;~n~i ,uppl~•m~•nt th~• ~~~~ t•n:~nt, .~nd :~~;r~ym~~nts uf th~s ~1urt~;:+Kt•.~s ifthe
ndrr w•rre a part hereof.
7. Protection of I.ender'e Security. (f Rorruwer ta~ls G, perturtn the a~vrnanta and egrc~menta contained in thie MoRgage, or if any
action ~~r proceeding is eommenced which matenally aftecL+ I~ender'e inlereet ~n the F'roprrty, including, but not limited to, eminent domain,
~neolvency, cY-de enforcement, or arrangemente or procred~nKs ~nvolving a bankrupt or decedent, then [.ender at [.ender'e option,upon
riotice to Borrower may make euch appearancee, diaburse xuch eume and take Huch act~on ae ia neceseary to protect Lender'e interest,
including, but not limited to, dieb~raement of reaeunaMe attorney'x feen and entry upon the Property to maice repaira. If I.ender re~uired
mortgage ineurance ae a condition of ~naking the lot~n secured by th~e MortKaKe, &;rruwer ahal) pay the premiume required to maintsin
euch ine~~rance in effect until euch t~me as the rPqu~rrmrnt G,r euch ~nwurance terminatee in accurdance with Borrower'e snd f.ender's
written agreement or appl~cable iaw. Burrowrr ehall pa>• th~• .~mount of all murtgaKe i~.e+uran~c prem~ume in the manner provided under
paragraph 'L hereof.
Any amounte diebureed by l.ender pertluant G~ this paragraph 7, with ~ntereat there~~n, ehall become eddit~onal ~ndebtednees of
Korrower secered by thie R9ortgnge. l3nleas Fiorrower and I.ender aKrre tu other terme of payment, auch amuunte ehall be payable upon
nutice from I.en~er tn Borrower reyuealinR paymPnt thermf, and rhnll t~ear ~nterest from the date of diaburerment at the rate payable from
dme to ttme un outr-tand~nK principal under the Nute unlrxH p.iymPnt of ~ntPreet at ~u~h ratr would Fw rontrary tu applicable law, in whuh
event euch amnunls ehall t-ear intereet at the hiKhret rate prrm~Ka~ble undrr appli~•able law- NotFi~nK contained ~n thie paraKraph 7, ehall
requrre I.ender to incur any expenxe ur take any actiun hrreunder.
~-::~~K 3~1; ,~,t ~08~