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Bore~o~ .na ~ oownant a~,a iouows:
1. Pa~~saat d Priacipa! aed Int~re~t. Boee~ow~ ~haU W'~PW? P~11? wMa dw tM Pciudal ot aad iat~~t on tb~ ~
evidw+od bY t!N Noa. pnpa~?~nt and lat~ charsw as p~ovi~d in tM Not~, aad tM peinc~pJ otu~d int~n~toa aq~r l~tur~ Advaaos~ ~ecaced
Dy tbi~ Noefsase~
Ptiwds tor Ta:e~ a4d Iasaranoa 3ubj~d t~o applicaWt law or b~ writtea ~raiver by Lender. Borrowes ahall pa,y to Leadec or~ the day
mouth(j? uutallen~att of principal aad intanst ~trs Wi,yaWe undec the Note. uatil tl~e Note is paid in ii~11. a wm (he~in'.'P~ada'7 ~9ua1 to ons
twelith of eM yeasly tauce~ aind aMeameat+s ~rhich ma~? attain prioriU? over this Mortsage. ~nd ~round r~ats oa the PropMy. if uU?, Plw oae~
' tarelltA of Ye~rly Pe~niiem in~talla~enb tor b~ard insnranoe, M~s one~twelRh of yerrly praaium insWlmeats for
mort~age insutance. if eiaY.
all as e+ea~onRWy estimated initial~y and ltom time b time by I.endK ~ the bsw of aaasments and biW and re~wnable atimate~ t?~ereof.
The Pbnds shail ba held iu an iartitntioa tbe dePwita ot aooounts oi which are insund or ~uaranteed by a Fed~al or 3tate a~~cy -
(inclu~ns I.eader if Leader u snch aa iaditntioa~. Lend~r shall app~ the I~nda to p~y said taxes. ~ts. uuuranae pe~eauum~ aad .
g~d nats. Leud~r mw mt char~s fae w holdin~ ind apg~jrins the P~nds. ai?al3?~n~ said socouaR or vecibrin= aad compiliai ~id
aeseameats and bills. unleM LaAdes pqy~ Botrower ~ntare~t oa the F~uuda aad applicwbk law peanits I.endar to make ~uch a chuge. Barro~
sad Iwnd~er a~ay asras in writin~ at tht time of e~cacution of t6i~ I~[oetsa~e that iatcrest oa the Fl~nds shdl be paid to Horrower. ued unl~
~uch a,~reement i~ made or appticabk l~w requin~ ~uh int~erest to be Paid. Lender shall not be nqnired b p~y Borrowrer any intere~t or
earninp on the Pbnds. t.ender ~hall ~ive to Borro~?er. ~riLhout charBe. aa aanual aooounting of the Fuads showing credits and debita to tbe
fl~nds and the purpose for which ead? debit to the PLud~ aas nu~e.lbe fi~nds see pledsed as addilio~nal security for the ~ums secnred by Wis
Mort~a~e,
If the amonnt of the F1~nds heid by Lender, together wiW the futnn monthly installmenta oiF~nda pe~yable prior to We due dates of taxe~,
assa~ments. insmanoe premiums and grouad renta. shal! esoaed the amo~u?t required to pa~y said tsze~, as~essments. insnraace p~emi~ms
and ~rouad rents a~ they fall due. suc~ esoeea shall be. at Bortowa'a option. either Pi'omPW? repaid to BorroMrer or credited b Borrowa on
montlily in~tallmeats ot Fhnds. U the amount of the P'unds held by Lenda shall aot be snfficient to pay ta~ce~. aasaaments, insuranca
pnzninms and B~nad eeata aa they fall dne, Botrower ahall pay fo Lender any amount necessarY to make np the de5caency withia 30 days
from the date notioe is mailed by Lender to Botrower requestia8 PeYment thereof. ~
Upon paymeat i.n fiill otall aunu secund by thia Mortgage. l.ender shall promptly nfnnd to Borrower any funds heid by Lender. If under
paxagraph 18 hereof the Propeity ia sold or the Propetty is otherwise acquired by LeAdez. Lender ahall app~y. no later than immediately prior
to the sale uf the Propedy o~ ita aoquisition by Lei?der. any FLnds held by Lender at the time of applicetion as a credit against the sums aecnred
by this Mo~rtgage. -
3. Applicatlon ot Paymenti. Unkss applicabk law provides otherwiae, all payments e+eoeived by Leader under We Note arid ~
paragraphs 1 and 2 hereof shall be applied by L,ender firat in payment of amounta p~yable to Lender by Borro~er nndesr p4ra~taph 2 hereof. f
then b interest payabk on the NMe, then to the principal of the Note. and then to intere~t and principal on any Ftitnre Advanoes. ~
4. Chartes; Lieas.l3orrower shatl pay all tsxea, easesements and othes chergea, fiaes and impasitioas attributaWe to the Ptop~rty which `
may attsin a priority over thia Mortgage. and leasehold payments or ground renta, if any, in the manner provided under paragraph 2 heseoior,
if not paid in snch manner, by Borrower making paymetit, when due,directly to the payee thereof. Borrower shall pmmpUy furniah to ixnder
all notiaa of amouafs due under this paragraph, and in the event Borrower shali make psymeat directly. Borrowerahal! promptly furniah to
Lender reoeipts evidencing such paymenta. Borrower shall promptly diarharge any lien which has priority over this Mortgage; pmvided. that
Borrower shall not be required to diacharge any such lien so long as Borrower ahall agree in writing to the payment of the obligation secured by
s~~ch lien in a manner aooeptable to Lender, or shall in good faith rnntest such lien by, or defend enfotcement olsuch lien in, legal proceedinge -
which opc~rate to prevent the enforcement of the tien or forfeiture of the Property or any part thereoL
5. Hazatd Insstrance. Borrow~rr shall keep the improvements now existing or hereaRer erected on the Property insured against loes by
fire, hazasda included within the term''e:tended rnverage," and auch other hazarda as Lender may sequire and in such amounts and forauch
periods ae Lender may require; provided, that Lender ahalt not require that the amount of such eoverage acoeed that amount of coverage
required to pay the suma secured by this Mortgage_ ~ ~
The insurance carrier pmviding the insurance shall be chose~ by Borrower subject to approval by Lender, provided, that such appmval
shall not be unreaeonably withheld. All premiums on insurance poticies shaii be paid in the manner provided u~~der paragraph 2 hereof or. if
not paid in such manner, by $orrower making payment, when due, directly to the insurance carrier.
All insurance policiea and reaewala thereof shall be in form acceptable to Lender and shall include a standard mortgege clause in favor of
and in form acceptable to Lender. Lender shall have the right to hold the policies and renewaia thereof, and Borrower shall pe~ompt~y farnish to
i.ender all renewal notices and all receipts of paid premiams. In the event of loss, Borruwer ahall give pmmpt notice to the inaurance carries
and Lender. Let~du may make proof of losa if not made pmmptiy by Borrower.
Unless Lender and Borrower otherwise agree in writing, inaurance proceeds shall be applied to restoration or rEpair of the Property
damaged, provided such reatoration or repair i's economically feasible and the security of this Mortgage is not thereby impaired. If anch
reatoration ot npair ia not economically feasible or if the security of this Mortgage would be impaired, the insurance proceede shall be applied
to the anme secured by thia Mortgage, with the excesa, if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to
respoad b I.ender within 30 daye from the date notice is mailed by Lender to Borrower that the insurance carrier offers to setde a ciaim for
inearanoe bene5ta, Lendei ia authorized to collect and apply the insarance proceeds at Lender
a option either to reatoration or repair of the
Property or the sume aecured by thia Morigage.
Unlees Lender and Borrower.otherwise agree in writing. any such application of proceeds to principal shall not eitend or postpone the dne
date of the monthly iaatallments referred to in paregraphs 1 and 2 hereof or change the amount of such inatallments. If uada paragraph 18
her~.wf the ProperEy is aoquired by Lender, sil right. titJe and interest of Borrower in and to any inawanae policies and in and to the proceeda
thereaf resulting from damage to Properiy prior to the sale or acquisition ahall pass to Lender to the extent of the suma secured by this
Mortgage immediately prior to snch sale or aoquiaition. .
6. Preservation wnd ~wintenance otProperty; I.easeholds; Condominums; Piaaned Unit Developments. Borrow~ershall keep
the Property in good repair and shall not cammit waste or permit impairnient or deteriosation of the Property and shaU oomply with the
pmvisions of any leese if thia Mortgage ia on a leasehold. If this Mortgage ia on a unit in a condominium or a planned unit development,
Borrower shall perform all of Borirower's obiigations under the declaration or covenante creatingor gove:ning the oondominium or planned
unit development, the bylaws and regulations of the condominium or planned unit development, and oonstitaeat documents. If a
oondominium or plaaaed unit development rider ia execnted by Bosrower and eecorded tagether with this Moitgage, the aovenanb and
agreementa of such rider shall be incorporated into and shall amend and supplement the rnvenants and agreementa of thia Mortgage as if the
rider were a psrt hersof.
7. Prote~ti~ of Lendet'~ $ecurity. If Borrower fails to perform the oovenante and agreements oontained in this Mortga~e, or if any
action or prooeeding is commenoed ahich mataially affects Lender's interat in the PtoPertY. inclading, bat aot limited to~ emineat domain,
inwlvency. oode e~forcxmmt, or ar~angemente or proceedings involving a benlarupt or deoedent, th~n L~?des at I.ender'~ option,ap~a
notioe to Bormwer me1Y make ~nch appea~usoe~. disbneee such ~am~ and take sach sction as is neoewary to protect Lender'a intue~st.
inclndinB. but not limited b. disbanement oi reasonabk attorney's fea and eatry apon the Property to make repai~. U Les~de~ reqnind
mortgage insnranoe as s oondition of malring the loan ~ecnred by this Mortgege, Horrower ahall pay the preminau reqnired to a~aintsin
sach insnrance in e~ect w?til ~uch time as the requirement for snch insurance taminate~ in aooordanoe with Borro~va'~ and I,ardes'~
writtRa agreement or applicabie Iaw. Borro.rer shaU pay the amount of ali uwrtgage insuranoe premiums in the manna provided nndar
Pa?raeraPh 2 hereof. ~
My amouna disbnrsed by I.ender persuanc co thi,s para~raph 7, wiW intera~t eher~.wn, ahall beoome additional indeM~ednw of
Bosrower ~ecured by tbis Mortgeg~ Unl~ Borrowa and La~des a~ree b other terms of payment, snch amonnt~ shaU be payabk npon
notioe from Lender to Borrower reque~ting peyment thereof, and ~hall bear interat h+om the date of disbnr~em~t nt the rate payabk troaa
time to time on outstanding priacipal under the Note unleas peyment of iaterat at ~nch rate wonld be oontrary? to applicable lar.. in which
event such amounts ~hall bear interest at the hiQhe~t rate permi~sibk nnder applicabk law. Nathin~ oontained in this paraaraph 7. ~hall
reqnire Lender to incnr any a[pease or teke any aclion hereaede~.; y.._
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