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UN~FOa~t Covetv~NTS. Borrower and 1.enJer roven~nt and ~gree as follows:
t. Paymenf of Priacipd and Interal. 8orruwer shall promptly pay when due ~he prinripal of •rnd intrrest on the
indebtedness evidenced by the Note, prepaymcnt and lalc charge. a~ pn~viJed ~n the Notc, and the principal of and inleres~
on any Fuwre Advances ucured by this Mortgage.
2. Ruadc tor Tases and Insurance. Subject tc~ applirable law or ta a written waive~ by l.ender, N~~rrow•er shall pay
to I.ender an the day mon~hly installments of principal and intcrctit arc pa~•ablc unJer thc Note, unUl thr tiute ~ti paid in full,
a sum (herei~ "Funds") equal to one-twelith o( the pearl~~ ta~e, and ac~~tcmCnlc v-hich may attain priority over this
Martgage, and ground rents an the Propert}•, if any, pluc anc-tHClhh uf ~~arly premium installmrnts for ha~ard imurance,
~11us one-tN•elfth of yearly premium installmentc (or mun¢age msur:+ncc, if any, all ac rca,unabl~• e~timate~l initic~ll}• and from
time to time by Lendcr on the basis of atisessmcros ~nd hill~ and re:uunable estimates ~hcreof.
'il~e Funds shall he held in an instiwtion the deEx»its or account~ ut which are inwred or guaran~red by a FeJeral or
state agency (including Lender if I_ender is such an ins~itu~ion ). 1 rnder ~h~ll appl) Ihe Fundc to pa~• said ~a~es, a~sessments,
insurance premiums and g~ound rents. 1_ender may not charge tor s~~ holding and apph~ing thc F=tu~ds, anal~zing saiJ accaunt,
or verifying anJ compi~ing said assessmems and bills, unless Lender pay~ Borrower intere~t on ~he Funds xnd applicable !aw
permits Lender to make such a charge. Borruwer and Lender may agree in w~riting at the time o( exerution of ±his
Mortgage that interest an the Funds shall hc paid to Borruwct, and unlesc ~uch agrecnicnt is made or applicable I:tw
requires such ~nterest to be paid, Lender shall not hc reyuir~J t~~ p:~~ BurroHer am• imcrcct or carningt ~m the Funds. Lcnder
shal) give to Borrower, without charge, an •rnr.ual arci~unting o( the Fund~ showing credits ~nJ debits to ihe Funds and Ihe
purpose for which each Jebit to the Funds was mrdr. Thr f=und~ are pledged as ~dditional securit~• tor the ~ums secured
by this Mortgage.
If the amount nf the Funds held by Lender, t«gethcr H•ith ~he future mon~hl}~ ~n~tallmentt ut FunJs payablc prior to
the due dates of taxes, assessments, insurance prem~unss and ground rents, shall exceed the amount reyuired to pa~~ said taxes,
asussments, insurance premiums and ground rents :!T thc~~ fall due, ~uch etice~s shall be, at Horr.~wer't op~~on, either
promptly repaid to Borrower or credited to Bormwer on monthly ~ntitallmcnls of Fund~. If the amount of thc Funds
held by Lender shall not be sufficient to pay taxes, asscssmcnts, imur.~ncr premium~ and ground rentc as ~hey fall due.
Burrower shall pay to Lender an~~ amount necessan~ to make up thc deficiency within 30 da}l hom the date nutice is mailed
by Lender to Borrower requesting payment thercof.
Upon payment in full of all sums sccurcd hy this Mortgagc. Lcnd~r shall prumptly refun~ to Bormwc~ an}' Funds
held by I.enJer. If under paragraph 18 hereof the Propcny~ i~ wIJ or thc Propcr~~ is otherv-•i~c aryuirrd b~• l.cndcr, l.ender
shall apply, no later than immcdiatcly prior to thc salc ~~f thr Pro~rty~ or i~s acquisition by Lcndcr, any I=unds hcld b}•
Lender •rt Ihe time of application as a rredir against the sum~ K;cured b~~ thn ~tortgage.
3. Application of Payments. Uniess applicahle law pra~ides other~iu. all pa}•ments received by Lender under the
Note and paragraphc 1 and 2 hereo( shall be applied b~~ Lender fir+t m paymcnt uf amuunts pay:-Me to Lender b~• Borr~~wer
under parag~aph 2 hereof, then to intere~t pay~able on thc \otc, thrn to thc principal of thc l~otr, :~nJ thrn to intcrest :~nd
pnncipal on any Future Advanccs.
4. Charges; Litns. Borrowcr shall pay all ta~c~, a~ti~titimrnts and ~~thrr ch:irgr~_ fines and imEx~~:tiuns atlnbulahle to
the Property w~hich may attain a prjority over thit ~lortgage. and IcaschalJ payments or ground rents, if an~•, in the manner
prov~ded under paragraph 2 hereof or, if not pa~d in such manner, b~ Burrow•er m:~king pa~~ment, when due, direcUy ta the
payee thereof. Borrower shall prompUy furnish to l.ender all notices o( amounts duc undcr this paragraph, and in the event
Borrower shall maice payment direcUt•, Borroaer tihaU promptly furnish ta I.ender receip~s evidenc~ng such payments.
Borrower shall promptly discharge any lien Hhich has pnonty u~~cr this Mortgage: pruvided, that Borrower shall not be
required to discharge any such lien so long as BorroK~er shall agrer in ..riiing to the pa}ment o( the obligatiun xcured by
such lien in a manner aece~±lah!e to Lr~de~, ar ~h~!! in genx! f;~ith c.~ntetit ~urh lien by, or deferd enfarc~ment u( such lien in,
legal proceedings which operate to pre~•ent thc enforcemrnt o( thr f~cn or torfeiwrr of the Propertp or :~ny part thereof.
S. Hazard Insuranee. Hc-rrower shall keep the ~mpro~ement, n~~w exititing ur hereafter erecied on the Pr.~Exrty intured
against (oss by fire, hazards included within the term "e~tenJed cuver~ge", and such other hazardc aa l.end~r ma~~ reyuire
anJ ~n such amounts and for such perials as l.ender ma~• reyuire: pri~videJ, that 1_en~er ~hall not reyuire that the aniuunt ot
such coverage exceed that amuunt of co~erage required to pay the wm, secured b~' this ~lartgage.
The insurance carrier providing the insuranre shall be chu~en by BorruHCr subject to approval b}• Lender, provided,
that such approval shall not be unreasonabty withheld. All premium~ on insur~nce policies shall tk paid ~n the manner
provided under paragraph~ 2 hereo~ or. if not paid in such manner, b~~ Bnrrower mak~ng payment, w•hen due, d~rectly to the
insurance carrier.
All insurance policies and reneKals thereof shall he in form arcepr.~blr to Lernlrr ~nd shall ~nrludc a titan.fard mortgage
clause in favor of and in form acceptable tu I.end~r. Lendcr ~hatl ha~e the right tu hold thc policics and renewal~ thereof.
and BorroWer shall prompN~~ furnish to Lender all renc~al nonces an~f all receipts of paid premium~. In the ecent of loss,
Borrower shall give prompt notice to the in~u~anre carner and Lender. Lendrr m~} make pr~-t c~( luis if n~~t m~de prumFtl}
by Borrower.
Unless Lender anJ Borrower othcrH,a~ agre~ in Nriling, in~urance pnxecd~ shall be applied t~ retitoratlon ur repa~r of
the Property Jamaged, proviJed such restoratu~n or rcpa~r i~ ea~nomically~ feasible and the tiecurity ~f this ~t~rtgage ~ti
nat thereby impaired. It such restorahon ur repair is noi rci~n~~mirallp fra~ihle or ~f the secunty of thic titi•rtgage w~ndd
be impaired, the insurance proceeds shall be applie~ t~~ the sums iecured h~~ thi; Murtgage, u,th the exre~s, if any, pa~d
~o Rorruwer. If ~the Propern is abandc~ned h~ Hormwcr, ar ~t Borrc~wcr faih t<~ rcti~~nd t~~ I ender w•~thin 30 da}~ from the
Jate notice is mailed b} Lender t~ Borrower that the insurance c~rner c~tier, to ,ettle a cla~m f~~r inwrance henefitti, I.ender
i+ authorized to collect and apply the imuranre pmceed~ at Len~i~r's e~ptiun eithcr to restoration ur repair of the Propert~
or ro ihe sum> >ecured b}• this 111ortgage.
Unles~ Lender and Burn~wer ~therwise agree in ~nting, am such appli~ation i~f pnkceds to ~+nncipal ~hall ni~t cttcnd
or p.~stpune the due date of the m~~nthh• installment~ refcrred t~~ ~n paragraphti I and 2 hereuf or . hangc the amount of
such installments. If under paragraph 18 hereof the Propert~ u acyuireJ h~ LenJer, all right, title and interest of Borrower
in and to am insuran~c policies anJ in and tc, thr pnx;ceds thrreol rc,uh~ng frum dam~ge to the Propert~ prior tv thc sale
or acyw~rtiun shall pass to Lender to the e~tent of the ~um> >rcured h~ thi~ 1lurtgagc immed~ateiy~ pnor tc> >uch s~le or
acywsition.
6. Presenation and ~taintrnance of Property: I.ea~ehuld~: ('ondominiom~; Planned ~'nit Ue~elopments. BorroKCr
shall keep the Property in gcx~d repair and shall not commii waste or permit ~mpairment or Jeteriarat~on of the Property
and shall comph~ with thc provis~ons of any Icase if th~~ ~ti~rtgagc i< <m a Ic:~scFuld. If thiti ~tortgag~ is un a unit in a
rundominium or a planned unit dcvelopment. Borrower .hall ~r(i~rm ~all uf BormHer's obl~gat~ons unJer Ihe dcclarah~n
or covenants cr~ating or guverning the ci~ndomimum or planned unit devzlopmrnt. the by-la~st and regulaticim of the
~unJomin~um or planned uni! developmrnt. and rnmtituent ~fucumentt. If a cun~lominium or pl:~nned unit ~ie~~lc~pment
nder ~. executed by Borrowe: and recorded I~~gether with thiti Mi~rtgage, thr co~enants and agreemcnts ~~f .uch rider
shall be incorporated ~nto and chalt amcnd and supplrment the co~enan~ti anJ agreements of thi~ Mortgage ati if the rider
~ere a part hereof.
7. Protection of Ixnders Security. If Bnrrower failti t<. perfurm the covenann an~i agrcements contained in this
Alortgage. or if any~ action e~r proceed~ng is commrncr~i Hhi~h matcriall}~ afiects Len~ier's interect in the Pmpert}•,
~nclud~n,g, but n+~t limited to. em~nent domain. incc~h~enc~, code en(orcement. or arrangements or pmceeJings invol~~~ng a
bankrupt or Jccedent. then I.ender at Len~er', ~pt~un, upon notice to Borrower, ma~ make such appearances, disburse such
sums and take such action as is necestiar}• t~~ protect l.ender's intcrest, ~nclu:iing, but net limrted to, disbursement of
reasonable attorney's fees and eniry upon the Propcrty to ma{;e repa~r.. I( I.cndcr rcyuired mnrtgage insur~nce as a
condition of making thc loan sccure.f b~ this Mortgagr. B~~rruHrr sh~ll pa}~ thc prcmiums rcqinreJ to maintain such
insurance in efiect until wch Ume as the reyuirement for such ~nsucanre terminates in accordance with Borruw•er's and
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