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UHtroRw CowH~nra. BoROwer and l.e~der covt~ant and a~ra u tollows:
1. l~we~t o1 h1~c~1 a~i IM~rel. 8orrower shall promptl) paY when due the priocipal ot a~d interest oo the
indebtcdnat evide~ced by the Note. Prepayment and late chargec a~ provided in Ihe NWe, snd the principai ot and interest
on aay Fwure Advances secured by ehis Morttate.
2. l~~i tor Ta~N a~i Iwn~ce. Subject to applical+k law ..r to a w~tten waiver by i.ender. Borrower sha~~ Wy
to I.ender on the dsy mo~thly installmen~s o( principal aod ~ntc~c~~ arc ~yable unde~ the Note, until the Note is paid in tull.
a sum (hercin "Fund~") eqwl to one-tweltth o( the yea~l~ u~-c. and assasmenl: which msy attain pnority over this
Mortjaje. snd ~round rents on the Pmperly, if any, plus one•~welhh of yea~ly p~emium installments for huard insunnce.
plus oae-twel[th of yearly premium installments tor mongage insi~nncc, if any, all as rcuonably estimated inilially and (rom
time to time by Lender on the buis ot ~sxscmcnts and hills and reasonabk stimata thercot.
The Funds shall be held in an instituti~n ~he depoca. or accaunls of which are insurcd or guannteed by a Fedenl ot
slate ajency (includina Lendet if Lcnder is such an ir-slitutionl. I.ender ahall apply the Funds to pay said uxes, asseumentt.
inturance prcmiums and around rcn~s 1_ender may na~ charge tor so holdiog and ap{+lying ~he Fund~. analyzing said account.
or verifyinj sed compling said assessments and Ailh, unless l.e~de~ pays Botrower in~erat on Ihe Funds and applicable law
pennits Lender to make such a charge. Be~rrowe~ and l.ender may agroe in writing at ~he time ot execution ot this
Mort~a~e that intercst on the Funds shall be paid to Borrower, and unlas such agreement is made or applicable law
rcquira wch interat to be paid. I.ender shall na~ be rcquired to pay Bor~ower any in~erat or earnings on the Funds. Lender
shap pve to Borrowe~. without charge, ao an~ual account~ng ot the Funds showing credits and debits to the Funds and tht
purpoae !or which eaeh debit to the Funds was made. The Funds are plodged u additional cecunty for the sums secureJ
by this Monpse.
IE the amount ot the Funds held by Lender, toge~her with the future mon~hly installments ot Funds payable prior to
tbe due dates of taaa, ssxssme~ts, imurar~ce premfums and ground rcnts, shall exceed the amount required to pay said taxa,
asse~qents, insurance premiums and ground rcnts as they tall due, such excess shall be, at Borrower's op~~on, e~ther
pranptly tepaid to 8ormwer or credrted to Borrower on monthly installments of Funds. !f the amount o( the i•unds
hdd by L.eader shall not be sutEicieut to pay taxes, assessments, insurance prcm~ums and ground rents u Ihey fall due,
Borro~ve~ shall pay to Lender any amount necessary,to make up the deficiencX within 30 days trom the date notice is mailtd
by Lende~ to Borrower requestin8 paYmeot therrnt.
Upoa paytaent in tull of all :ums Kcured by th~s Mor~gage, t_cnder shall promptly rctund ~o Borrower any Fun~
held by Leader. lt under puagraph 18 hercof the Property is sold or the Property ~s aherwise acqwrcd by Lender. Lender
shall apply. ra later than immediately prior to the sale o( the Property or its acquisi~ion by l.ender, any Funds held bv
Lender at the time ot application u a crcdit aga~nst the sums secured by this Mortgage.
3. Appiicatio~ ot Payaests. Unless applicable law provides otherwise, all payments received by Lender under ~he
Note and paragnphs 1 and 2 hereof shall bc applied by 1_cnder 6tst in payment of amouots payable to I_encier by Borrower
under puagraph 2 hereof, then to ~nterest payable on the Noie, then to the principal ot the Note, and then to interest and
principal on any Future Advances.
4. C6anes; Lkos. Borrower ~hall pay a11 taac~ aeKS~ments and other charges. finec and ~mpositiuns attnbutable to
the Prope~ty which may attain a pnority over thi. Mor~gage, and leauhold payments or ground rents, if an}•, in the manncr
provided unde~ paragraph 2 hereof or. if not paiJ m such manner, by Borrower making payment, when due, dircctly to the
payoe thereot. Borrower shall promp~ly (urnish to Lender all not~ces ot amou~ts due under this paragraph, and in the event
Borrowe~ shall make payment duecUy, t~rrow~r ~hall promptly (urmsh ~o Lender rcceipts evidencmg such payments.
Borrower shall promptly dixharge any Gen which has prwn~y over th~c Mortgage: proviJed, that Borrower shall not be
reqwred to d~scharge any such lir~ so long -rs Borrower ~hall agrer in wn~~ng ~~ the payment o( the obl~gatiun ucured by
such lien in a manner accepuble to Lender, ur ~hrll m g~x+d faith contr~~ such lien by, or defenJ entorcemrnt of such lien io.
legal proceedings wh~ch operate to prevent ~hc enforcement ot ~he I~en or torfe~wre of the Property or any part thereof.
S. H~zard Insursnce. [iorrower sh~lt leep Ihe impmvemcnt~ no~ c~icung ur hereafter erec~ed on the Property insured
against loss by firc, hazards inrluded withm the rerm "exteoded roveragc". a~d such other hazards ax 1_ender may reyuire
and m such amounts and fvr such pe~iods a~ Lender may rcyvire: provided, that LenJer shall not requirc that ~he amount bf
such coverage exceed that amount ot coverage reywred to pay the a~mc uc~ired by ih~s Mort6aae.
7Lt msurance carrier providing ~he insurance shall be chosen by Borrower subject to approval by LenAer, provided,
that such approval shall not be unreasonahly withheld. All premium~ on insurance puli~~es shall be paid in the manner
providtd under paragraph 2 hereo( or. ~f not pa~d in such manncr. by Bnrroxcr mak~ng payment, when due, dirccUy to the
insuraace carrier. .
All insurance poliae~ anJ renewal~ therrot shall tk in furm a~ceptablr to Lender and shall include a standard mortgage
clause in favor c-f and ~n torm acceptable tu Lender. Lendcr +hall ha~'e the right to hoW the policies and renew~alt thereof,
and Borrower sh~ll promptly turoish to Lender all rencwal nouces and all receip~s of paid prcmium~. In the event of loss.
Bc~rrower shall grve prumpt not~ce to the :^iurence carner anJ 1_ender. I_endrr ma~ maAe proot ot loss ~f not made promptly
by Borrower.
Unlas Lender anJ Borrower otherv-~.e agrec ~n v-nting. ~murance pr~xteJc shall be applied to restoration or repair ot
the Property Jamaged, provided wch re~torat~on or repa~r is eciznc~mrcally feasih~e and the ucurity of this Mortgage ~s
not thereby impa~red. If such re~toraUun or repa~r is n~.t rc~~n~~mecaUy (er~ihle or i( the secunty of this Mortgage would
be impaired. the msurance proceeds shall be applied t~~ the sums iecureJ by this Mongrge, v-,~h the excess, if any, paid
to Borrower. If the ProExrt} ~s abandoned by Borrow•er, or ~t Borr~wer faih ~o re~pcinJ tc~ I.ender within 30 days from the
date noUce is mailed by~ Lender to Borrower that ~he ~nsurance carrier otTen ~o settle a claim for insurance benefits, I.ender
is authorized to collcct ~nd apply the ~murance proceeds ~t Lendcr's u~+Uon e~ther to restorat~on or repa~r ot lhe Propertv
or to the sums sccured by this ~fortgagc
Unlesc Lender and Burmwer otherv-iu agree m v-nting. ~rn such epplicatior af prcK:reJs ~o pnne~pal shall not ex~~nd
or postpone the duc da~e ~t the monthh• im~atlmentc refcrrcd t~~ in paragraph~ 1 anJ 2 hereot or change the amoun~ oi /
sueb installmeati. If under paragraph 18 hereot the F'rn~rt} ~+ acywred hr Lender, all right, t~tle and interest of Borrc~wer i
in aod to any Inwrancc ~wl~cies anJ in and tn thr pr.xccds thcrcut resulting from Jamage to the Property prior to th~ sale
or acqws~t~on shall pass to Lender to the e~-icnt o( the ~ums ~ccured h~ ~hn ~tortgage immediately prior to such sal~
acqwsition. -
6. Presenalion and ~taioten~nce ot P~opert~; I.easeh~-Ids: ('ondominiums; Plsnned Uail Developments. Borro~cr
shall kcep the Property in g~wd rrpair and ~hall not wmroit y.aste or permit ~mpairment or deterioraUon of the Property
aod shall compl~ w~th Ihe provi~wns o( any~ lease ~( this ~lurtg:~gc ~. ~~n a irasrh~~ld. If thi~ Mortgage is on a unit m a
condomimum or a planned unit devrlupment. Borrower ~hall ~rturm all ot Borrower's obl~ga~ions under the declarah~~n
or covenants cre~t~ng or guvermng t`-e cvnd~~min~um e~r planned umt de~elupment, the by-laws and rcgulationc of the
condomimum or planned umt devcl~~~~mcnt. .,nd :~~m~itucnt d~xumcm. It a condom~nium or planned umt dcvefopment
nder is eaecu~ed by Borruw•e~ and re~orded together N~th th~~ tit~rtgage, the covenantc and agreements o( cuch rider
sha11 be mcorporateJ ~nto and shall nmend anJ ~upplemrnt the cu.enante and agreements of this Mor~gage as it ~he n.fer
Mcre a part t~ertof.
~. Protection ot Lender's Security. If B~rr~~wer f:ul: r~, ~xrt~~rni the covenanls and ~greements contained ~n th~~
Mor~gagr, ~-r it any achi~n ~~r prcxeedmg i. ~~~mmrnce~l Hn~.i~ m:nerialh .~flr~~~ I ender', imeretit in Ihe Pm~xr~}•,
mcluding. but n~~t bm~ted tu, rm~ncnl domam. ~n~~•i~cnc~. a~dr rnt~~nem~nt. ~~r errarigemcros or pnxcedings invohing a
bankrupi or Jcccden~. ~hcn 1_cnJcr at I cnJcr'~ ~~p~ion, uEx~n nunce t~~ Borrowrr. ms~ makc wch appcaranccs, dahuru tuch
sumz and take such actiun a~ ~s nece~~ar} t~~ pr~~tect Lender'~ mtere~t. ~nclniLng. but not IimitcJ to, ditbursement .~f
reesonable attomey's fec~ rnd entry u{xa~ the Pm~xrt~ t~~ ma~,c rrpe~n If Lender rryuircd mortgage insurance ac a
cund~tiun ut makmg Ihc li~an ~ccureu b~ th~i ~1~~rtga~r. H~~nr•~~cr sh ~II pa~• Ihr prcm~ums rcqu~reJ tt- mainta~n wch
insurance in eftect umil tiuch ~~mc ati ~hc reyutrrment for .urh ~n;uran.e termin:itr•. in :ic~ordance u~th Bnrr.~wcr's anJ
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