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<br /> � t.1C_'�'�� COVBNR1i'l'8. Ilorrowora dlt(1 T.ender aovenant Allf� A(JYOQ AS � �
<br /> n�fr� ,_�;{"t� PO�.I.05tiL
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<br /> F „S�,',`� 1. Pnyasnt of Prinoipnl end Intexest� PxepAymenL and Lat•o
<br /> r� ChAr.ges. EorroWers shall prompL•ly pay When due the prinaipnL of
<br /> ��,�' end ini:ezest on tha cieb� avidonaad by S:ho Hote and a�iy �xepaymont• _ —
<br /> `� �_,rt and Late aherges due under thn Noto. � --�
<br /> � j -x x� `��f� ..
<br /> .r,,,,,�',�,r, 2. Funde Eor. Taxeo and inauranaa. SubjeaL• to applioable law r� > -
<br /> j �+ ;�;�� or to a Written waiver by Londer, Aorrowoxs ehall pay to Lender on ��,'. ' =
<br /> f " :�" the date monthly paymante ane due undor ttie Note, until. tho Notm in t,;E Q�,_.
<br /> 5 = 's pa3.d in full� a aum ("FUrtxZs°1 �ual to one two l Et hs (a) yg+ar ly �,a��,�
<br /> .. � _,'` taxes and aeaesoments vhtcEn m,s�r �ttain priority over teDirs S¢aur3ty
<br /> 'r ,`", InsLrum,enti (b) g�arup 2¢�se�COZd paym.��tts or gxoun� r�nta on th� f s{�'` �:
<br /> ; ;; ��� `� Pro ert if an c ¢�rl lhazarcE lnsraranca re�.S�nmaB �n�3 (d) ��'�r � :
<br /> � �.�c,s, � � y, ra ( D � � � � �E ��rs .
<br /> ,�-��,�;Mg��� yearly mor tg ag a a�a s u r a n�e qaxe�:tcims� 3E aray. ThertQ it�7s ar� e�22�c� °;. ; �a'
<br /> � �y "euorow items°. S,end�r na�+ �et3i+ate th� Funds adua o�a tha iaasi� of � �
<br /> ��- auzrQnk data and rea��r�-�l+le o�¢z.matars cx€ futuxe escrax itesr.s. 'i�s'�rr5„ '
<br /> �� t�+, � .`j
<br /> nu',
<br /> s`�1i4�^"' The funda shall ba helc� -�n an institution, the da�nos�ts of ., -
<br /> � � r=
<br /> ' f!� whiah aze inscnsed or guare.nzeed by a federal or atAte a�mnry. •,. •
<br /> `�'.s t:� --�
<br /> � �f�; ,. Lender shell a.p�ly the Fun�rs t�a pay the eaorov iteme. Lender may . � z�
<br /> , s F,-����_ not oharge for holding an�J. applying the Funde, analyzi.ng the 1' �r�;
<br /> �41S.s�. aCaount or veriPying the eunrow items. Lender ahall not be �. �
<br /> � �r,,,},. xequ:Lred to pay Borrovurs any interest or earninge on the Hunds. �,';�;�i.��;',
<br /> ' � `3 T,andar ahall give to Doxrowesa, without aharge, an annual aaaount '�q ;:
<br /> � '� �� ot the Funds showin crodita and debits to Che 8unda and the i-it �s
<br /> �m1; > > ��:.
<br /> r•.� purpose for whzoh oac4 debit to the funds was �,�de. The Funds Are ;�`;rj� ,��'
<br />-`--?4,?tt�a�`":$t�•,_ nled�aed. as addition,�l eeaurity for thu auma eeaured by this . t�„.�}it-.;,;:
<br /> ''�%�:{� 8eaur5Cy Ynetrument. - h_=,-;
<br /> �;� � . .
<br /> �r� If the at�rsant off thn x'uar�ra held by I.ander, toga't�ar wiLh tha � 'f
<br /> a , � future yearlp paymonka of Pund.a payable prior to the a;ue datee of , :
<br /> „ �„'tt3� the esorow items, u�xa11 excead the amount requireQC to pay the J�s,��� � , �;
<br /> � � ( �h��f�tl� eeorow :Ltems whan du�, ' ' ' '"
<br /> the exceas shall be, at Sorroveza optl.on, .��
<br /> �r�� }��s�� either promptly repaid to Bocrowers or ozedited to �orrowers on } ,�„
<br /> ti s _+r,.; yearly paymen�� of Funds. If the amount of �he Funde lielc� by 6�;�,, , :
<br /> , �� F��'s; Lender is naz nufficient to pay the escrow iteme when clus� � �'� '' :
<br /> r?a.? &ozroWers sUa31 pay �o I,onder any amounl: necec�Ary to make up tho " �.
<br /> __, , +`-µtti de£iaienay in o:�a or ieore payments as cequ�red by I�e��`sr. �{�:� f ,:'
<br /> n c�
<br /> - �; -_' ��'-'s r t t
<br /> t� - Upon payaient in full of �ll auma secure�� by thio 6e.�aria� .:y,�
<br /> - •� � Instrument, Lender shall pcon�tly refund to Borrowera miy Fv�da 7'� ':,'
<br /> s�` ', E�c; held by Lender. IE undar paragraph 19 tlie Proporty xa Aoic9 or t:�
<br /> „'r1!- acquic�d by Lender, Lendor shull app3y, no later than irmediately . "
<br /> � �` �-;'�!<, prior to tiso eale of tho Property or its acquieition hy Lender, any �: �
<br /> „ ;�, .;_;;t;:': Funda held by Yeender at the time of application ae n credit against -
<br /> + " � thm auns sesace:i by this Security Inatrument. f `< < �'
<br /> r � -. I:..'. � �. r. :
<br /> _ -:''�`-<'t,��.`,. 3. Appliaation �f Payments. Ai3 payments raceavc� Uy Lender ` �
<br /> .r, -" undor paraqrapho 1 ae+.d 2 ahall be applied: first, to lato chaxgeo �'
<br /> �r'_�� _�'t�r due under the Note; second, Lo prepayment chaages duo under the �'"
<br /> Note; third, to emounts pngamle under paragraph 2; fourtte, to �'
<br /> `.���,"-:'���.:� interest duuj and, last, to principal due. � _
<br /> �:: .:"_��,`v
<br /> , .
<br />;:���i�;:;�-k; ;f�. 4. Chargesi Liens. �orroaers shall pay all taxes,
<br /> i�•%?° - r} aasessments, chargus, fines, and impositions aGtributable to the
<br /> Property whfch may at:tain priority ovor this S=surity Instri.a.ent,
<br /> ` '�7 and leasehold paymonte or ground rents, if any. IIorroxers shall
<br /> �.'��y� pay theee oblzgations in the manner pr.ovided in parar,raph 2, or if
<br /> • •� not paid in that manner, Borrowers shall pay tliem om tisr�e d'arectl}
<br /> I�j to th� person owed paymont. Borrowers shall protaptly farce8s2� to
<br /> y Lender alI noticea of amounts to be paid undur thie pnragragh. if
<br /> Borrowers 073R0 tl�ooe payments directly� DOL'IOY7QC0 sha11 prompciy
<br /> - � � - furnisk to Lender receipts evidencing the paymenta.
<br /> . tn.
<br /> FV.,rro�aera sliall promptly diecharge any lien which hae priority
<br /> �,r t ovar t:�efs Security Inetrument unlese Borroveras (a) agree i.n
<br /> wrf.tfaa� to tho payment of thu obligation secured by tho lien in a
<br /> } tt.ati2eaar acce�table to Londor; (b) contest in good faf.th Yho 13.on by,
<br /> or� defend against on£orcement of the lien in, logal proceodings
<br /> - .3.. ,�:_'. cri:fch in Lha Lender's opinion oparate to pravent tho onforcomont of
<br />, .:`
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