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iusured or guiu•auiced t?~~ a Fccicr.~f ~r ,Ir?t~• :?~;i~nc~• lin~•lu~liu~; I.~~n~l~~r if Leii~ic~r i: : url? ~u~ ii?stilutioul. Lc~n~ier
::hall a~;ply the I~unds to ~~a~' sai~i t;~~c.~, a~•c•;ntent~, in:~u~unt•~• ~?remiun?> ai:~i ~rouncl ri~nts. I.~~n~ler ~linll ntttke n~
charge for so holdin~ r?ncl ap~~le~ii?~; Il~r. 1~ inui~ or ~~~~rii~~in~; un~l co?u~~ilinR ~.~i~i t?~~~:•~nc~nts ,~mi I~ill~. liorrower and
Lender intty agree in ~~•ritin~; :it ihe timr of c~i~i~ution ~~1 tlii, \lort~;ti~~~ tl~ut inler~~,t ~n, tl.c~ Fun~l~ shall hi~ ~u~icl tn
13orm«•er, tuui unlc~. ~tt~h ~ig~•ccmrnt i. mtul~~. Li~mirr •hull. not lic r~~c~uirc~~l ta ~ui~• 13orro~~•~•r :?n~' intcrc~st on thc• t
l~'unds. Lender shnll ~;i~•e lo }3orro~~•cr, ~~•ithout ~~i;~i•~;c, ~~n ,tn»u~il iie~ountin~; oi tl~~• I~~m~l; sho~~•in~; cre~iit~ nnct ;
~iebits to the Funds :?nd the ~~ur~~ose for ~~•hicli ~ucl~ ~I~hit t~~ th~ Fun~ls ~~~ns mt~de. '1'he I~'~uuls ~~re ~~led~e~l as ~iddi- ~
tional scourity for thc sums securcd by ~hi~ \lort~;n~~.
If the ninount of the I~'unds held I,~~ l.en~ler. t~~~cllu+~• ~~•itl? tlie futtu•c ~nc~~iihl~• ii?~t:?llinenf~ uf Fi~nds ~~ayttble ;
~~rior to the ~ii~e date~ oF tnxes, assessments, insuriu~~•e ~n•en~iuin. und ~;rounci rent:;, ~linll c~xeeect tlie ainount re- ;
quired to pt~y ~aid ta~es, acse.ssn~ents, i»surnnce ~~ren~iums un~2 ~;?•ouiul rnnts ,~s the~• fttll due, such ezcess ~hall be, ~
nt~ Rorro~~~er's o~~tion, cither ~~rom~~tlti• repnici to I3orro~ver or rredited to I3orro~~•c~• on monthl~~ instnllments of .
Funds. If the amount of the runcls helci I~~~ T.ender shnll not 1?e suflicicnt to ~~a~~ tt~xes, nssessments, ii~surnnce pre-
n~iams aud ground rent< as the~~ [nll ~iuc, I3orro~~•er sl~nlt to I.ei:der anv :~i~aount nccess~rv to mnke up the
cleficiency n~ithin thirt~~ cin,ys n[ter iiotica fron~ I.ender to F3arro«~er reqiicsting i?aynient thereof. _
Upo» pnyment in ful) of :~ll sums sccured b~~ tliis \Iortg:i~;.~, T.cndcr ~h:~ll ~~rom~~tl~• refund ta I3orro~ver ui~~~
Funds held b,y Lender. ~ _
If under ~inragr~ph 18 hcrcof thc I'roamrt•y is sol~l or the Yropert}~ is other~~~ise ucquire~i hy I.ender, I.ender
~hal! np~~ly, no lnter thnn immediatcl~~ ~~rior to ti~c ~atr of tl?e Yro~urrt}• ~~r its a~~c~ui~ifion h}• Le»der, an~~ Funds
_ held by I,ender ;tt the timc of ap~~licntion as u cir~lit a~:iinst. tlic ~inn~ ~cc.w•c~i h~~ thi~ \tortKt~~c. ~
. 3. App~ication of Payments. Unless n~i~~lic:thlc la~r jn•o~~ide~ othcr~cisa, ,~11 ~~:~~~ments received by Lender f
- under the \ote .~nd ~~arngraphs 1 and '2 [~ereof sh~ill l,e t~~~~~lied I,~• Lc~id~~r fi~~.t. in ~i:~vn~ent af aniounts ~~n~~r~Ule to
I.ender by I3orro~~•cr ~mder ~~arn~;ra~~h 2 hereof, then to~inte~r,t ~?a~~:ible o~i the \Totc an~l un Fufurc :1ci~~n~ices, if _
- any, iuici tl~c~i to thc ~~rincipal of tl~c \otc ancl to tl~~~ ~~rincipal of Futiirc :1ci~~.~ucc~, iC an~~.
4. Charges: Liens. Borrawer shrtll ~~a~~ all tnxe~. :?sse~sments uml other char~r.s, fincs ~nd iui~~osit.ions nttrih- . ,
utable ta the Yropert.}~ ~~~hich mny attaiu a ~~riorit.~• over this ~to;±gnge, ancl ~roun~l rents, if any, :?t~ I.ender's -
~ option in thc mnmier ~~r~~'I(~C(1 llll(ICl' j)ill'tl~l•n~~h `l I~crcot' or h~• l~orro~~•er ~naki»~; ~?a~•ment, ~~•hen dt~e, clirectly to
. the pa}ee thereof. I3orro~~•er shall ~u•on~ptly furni~h to I.ende?• all notices of aiuounts chie undcr fliis ~~nr~graph,
and in tl?e e~~ent. I3orm~~•er ,hall make pa~~me.~t~ directl}'. Rorro~~•er ~hull_ ~~rom~~tl~• fui•nisl~ to I.encler receipts evi- ~
dencing such ~i:~yments. Rorro~~•er shnl) ~~ro~uptlti• disch,u•gc :in}~ licn ~~~l:ich hn~ ~iriorit~• o~~er this ltortgahe; pro-
. vided, that 13orro~~•er shnll »ot hc reryuired io discl?.ir~c :u?~• ~»ch lie~i ~o lon~ I3orro~~•er ~hall n~ree in ~rriting to
the pnyment of the obligt~tion secin•ed b~• sttch lien i~i a ui~nne~• alccept:~ble to Lcnder, or sh111 in good faith contest .
. , sttch lien by, or defend enforcemrnt of ~ucli licn iu, lck.i~ ~11'OCCedin~;. ~~~hich o~~crate to pre~•cut the enlorcement of_
the lien or [orfe'itin•e of the Pro~~ert~• or any ~~nrt tltiereof.
- 5. Hazard Insurance. Borro«•cr ~hn11 kce~~ tlie im~~ro~•ement~ no~~• ~~~istin~ or_1leresifcr crected on the Prop-
ert~~ insured :~gainst loss b~ fire, haz~rds in;.ludeci ~vithi~~ thc term "extended cover~ge'.', zud such other ;~azards a~ ~
i.ender n~n~~ require ~~ncl iu ~ucl~ a~nounts ~nd for ~ucl~ ~,eriocls a: I.~ i~iler ?ur~~~ re~uire; proviclcd, thnt. t.ender shail ~
not reqi~ire that thc amow~t of such covcr~gc e~ceccl tl~:~i a~uount. of co~~ern~c required to pt~y the sums secured hy - ~
. this 1lortgnge. _ _
- The insur~nce cnrricr ~~rovl(IIU~; fI1C lllSlll'S111CC shall I~c clioscn In Rorrcm-er ~uhject to .ippro~•nl by I.ender;
pro~~ided, th:~t. sucli :tpprovnl shall not be um•eason~tbl~~ ~~~ithL•eld. :1ll premiums o~3 insurnnce policics shnll. be pnid -
at I.encler's option in the ntanncr ~~ro~~ided uncicr ~~:~rag~.~ph 2 h~~rcof ~r h}• Rorro~eer ~uakin~; ~~~tyment, ~vl~en due, -
~ directly to the insurauce cnrrier. . ~
All insurnncc ~~olicies ancl renc~~~nl~ thercc. :h:ill I~c i» Curiu .?c•~•~y~tablc io Lc~n~icr un~l ~h~:ll inclu~ic st~udard ~
- mortgrge cl:~use in favor of and in for~~i acceptnble to Le»~lcr. I.cu~ler ~h.311 hati~c thc ri~ht ta hold th~ policies and
rene~?~als thereof, nnd I3orro~cer ~L;ill ~~rom~~tl~• f~u•nish to l.e»ricr ,~ll renc~~•;i! notice-s and all receipts of paid ~~re-
miums. In the c~•ent of lo~s; I3orro~~•er ~L•nlt gi~•c~ ~n•o~uj~+ uc~ticc tu the i~isur~nce carricr and T.ender, and T.ender
may ~unke ~~roof of lo~s ~f ~iot. ~nade pro~uptl~~ h~• i3ori•o~~~ci•.
Unless i.ender a~td Borro~~-cr oti?cr~risc ~grcc in ~~•ritin~;, ~n~w;?n;.c ~u•occed~ sl~t~ll be applieci to resiortttion or
repflir oi lhc Yro~~ci•h• ~lau~age~i, ~~ro<<i~ie~l ~u~li rc•stor:itio~i or re~?air i~ econou~i~all~• fca~iblc an~l the seci~rit•~~ of . -
this \Iortgage is nof. tl~erebti• im~~aired. 1f such rc~tor:~tion ar re~~air i~ not cconomic~ll}~ fcasiblc m• if tl~e securitv
of this \Iortgage ~coulct he i~u~~airecl, ti~e insur~ince ~n•oceeds ~hall 1?e .ipplied to the sums secureci b~~ tl~is \Iortgage,
~ «•i~li the e~cecs, if ,iuy, pnid to J3orro~~•er. If tlic I'ro~~ert~• i~ ~ban~loncci h~~ 13orron-er or if Borro~~•e~• frtils to respond
to T.ender ~~•itliin 30 ~i~ti~s after noticc h}• I,cuder to Borro«-cr tliat tl~c i~~~urance c:~rrier ~ffcrs to settlG 1 claim for
_ insurance l~enefits, I.ender i~ suthorized to collect an~l .i~~~i1~- thc~ ins~n•.iuce ~~roceed~ at i.ender's o~~tion either fo '
restorntion or rep~ir of tl~e Yro~~crty or to the sum. secttred 1?y thic \[ortgage. ~ . ~
Unlecs Lendei• anci Borro~~•er otLert~•ise agree iii ~~•ritin~. .in~• sucl~ applie:~tiou of ~uoceed~ to ~~rincip~l sht~ll ~
nof extend or post~~one tlic due ciatc of the_n;outl?I}• inst:~Ument~ rcferred to in ~~aragra~~h~ 1 ~nd 2 l~ereof or change ~
the amount oi such installmentG.
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If under ~~aragr~~~h 18 ~reof thc~ }'ro~x~rt~• i; :tic~~uire~t i,~• I.enrlcr. atl ri~;ht. titlc .inr! iiitere~t oi Borro~cer in ~
.~nd to a»~• in.ui:~nce l~olicie, .tnci in .ill~~ t(? tI1C ~)1'O(~ee~l~ tlu~r~~~i Ito tlu• ~~xtcnt of tl~e~ ~nin~ ~ecure~l I~~• this \lort- ~
;~ge i~nu~edi~tel~ ~~rior to st~cl~ ~:~Ir or :tcquisitioni re~ulti~~c; frrnn ~lam~~~e to tlia }'ropert~• ~~rior fo tlie sale or €
acquisition shall pas~ to I.ender. - i
6. Preservatioa cmd Mairtenance of Properiy; Leaseholds; Condominiums. 13orro~cer ~h~till keep the Yrop- ~
crty in ~;oal rep~ir an~l shall not. ~?criuit or commit n:?stc. in~~~airn~cnt, or clctcriorafio~i oi thc Yropcrty and shall -
comPly ~vith fhe ~~ro~~isions of an~~ lelse, if thi~ ~tortgage i~ on .i leasehol~l. If tLis ~Iortgage is on a condominium
unit, Borro~r•er shall ~~erform :~11 of Borro~~•er'~ obligation~ niuler tl~c ~leclarztiou of con~io~ninium or ~naster deed,
~ the_I~y-laws and regul~tions of the concioiuiniim~ ~~i•ojeck .inci constituent documes~ts. _ ~
Preteciion of Lender's Security. If Borro«•er fail~ to ~~crform tl~e co~~enaut~ ,u~d agreen~ents cont~iued in i
- ihis ~Iortgage, or if ~n}• aetion or proceeding is comn~enceci ~~•I~ich ~u,iterialh~ ~f~ects I.ender's interest in the Prop- - f
erty, including, but not limite~l to, c~ninent clouu~in, iusol~•enc~•, codc enforcement, or :u•ran~enients or proceed- s
- ings involving a bankrupt. or decedent, then Lenricr at .I.en~ler's o~~tion: ulion notice to Borro~ver, m3y make such ;
a~~pearances, disbt~rse such ~~uns and take s~~ch .iction ~s i~ necoss:~r~~ to ,~rotect. Lender's interest, in~ludii~g, but ~
, not limited tq disbursemcnf- of reasonablc atfornc~•'. fees :inrl entr~• iipon thc Y!•a~iert~• to ~nake repAirs. Any ~
amounts disbursed b~~ I.endcr ~?uisuant to thi~ paragra~ih 7. ~~•itll inicre~t tl~ereon, chnlt becomc additional indebt- ;
edness of ~3orro«•er secureci hy this ~Iortgage. Ui~less I3orron-ei• ~n~i I.en~ier ~gree to ot~~er tern~s of payment, such _ ~
amounts shall be pay~ble upon notice irom Le~der to I3orro~~•er rcqi~esting ~~ayment thereof, ~nd shall bear inter- ~
- est from the date of disburse~nent at thc rtttc stateci in the ~ote unless ~?avment of inierest at such rate ~vould be -
contrary to applicable la~~•, in ~~•l~ich c~•enf sucli amottnt~ :I~ail hear interest zt thc highest r~te ~~ermissible by ~
~ipplicablc la«~. \iothing containecl in thi~ ~,ara~gra~~li 7~hall rec~tiire 1.ender to incin~_an}~ ex~iense or do an,y act
hereunder. ~
~ ~ ~ 8001(~40 PA~E2282 ~
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