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<br /> TH[S SECURITY INSTRUMENT combines uniform covenants tor national u5e and non-uniform covenants with
<br /> •limited variations by jurisdictiun to constitute a uniform security instrument covering reAl property.
<br /> UN1F�)RM CUVLNANTS.Borro�ver and Lender covenunt and agree as follows:
<br /> !. Payment of Principal and Interost; Pcepsymeat and Late Cherges. Borrawer shall pr�mptly pay when due
<br /> the principal uf and intereat on the debt evidenced by the Nate and any prepayrnent and late cherges dua undar the Nots.
<br /> 2. Funds for Taxas and Insuranco.Subject to applicable law or to a wntten waiver by I.ender, Borrower shall pay to
<br /> L.ender on the day monthly paymenta are due under the Note,until the Note is paid in full,a sum ("Funds")for. (a)yearly
<br /> taxes and assessments which may attain priority over this Secutity Instrument ea a lien on tha Property; (b) yearly
<br /> leaset�uld payments or ground rent;on the Property,if any; (c.)yearly hazard or propecty insurance pramiums; (d) yearly
<br /> fiood insurance premiuma,if any; (e)yearly mortgege insurance premiums,if any;and �t) any sums payable by Horrotiver
<br /> to Lender, in accordence aith the ptovisions of paragraph 8, in l�eu of the payment of mortgage insurance premiums.
<br /> These itetns are called"Escrow Iteme." I.ender may,at any time,collect and hold Funds in an amount not to c,xceed the
<br /> maximvae�s omount a lender for p federnlly telated m�rtgage loan may require for Borro�ver's escrow account tmder the
<br /> federal Real Estate Settlement Procedures Act of 1974 as nmended from time to time, 12 U.S.C. Section 2601 et seq.
<br /> ("RFSPA"},unless another law that applies to the Funds sets a lesser a:nount.J4 so,Lender may,ut any time,aolleot and
<br /> hold Funds in an amount not to eaceed the lesser amount.Lender may esticnate the amount of Punds due on the basis of
<br />� current data and reasonable estimates of expenditurea of future Escrow IItems or otherwise in accordance with applicable
<br /> law.
<br /> The Funds shall be held in an institution whosa deposits are inaured by a federal agency, instrumentnlity. or entity
<br /> (including Lender, if Lender is such an instituti�n)or in any Federal Homa I.onn Bank.Lender Ahall opply the Funda to
<br /> pay the Escrow items.[,ender may not charga Borrowar for holding and applying the Funds,ann��elly enalyr,ing the escrow
<br /> aca�unt, or verifying the P.scrow Iteme, unless I.ender pays Horrowar interest on the Funde end applicable law permits
<br /> I.ender tu maka Huch c+ct�eeKtl.I Iowever,Lender may requ�re Borrower to pay e�ne-time charge for an independant real
<br /> e.gtate tax re�rting service��.sed by I.ender in connection with thie loan, unless applicable Iaw provides otherwiso.Unles9
<br /> un agreement iR made ar epplicabla law requite.q interest to be paid, L.endnr shall nat ba rcquued to pay Borrower any
<br /> interest ur earninga on the Punde. Sorrower and L.ender may agree in writing,howover,that interest shaU be paid on the
<br /> Punda.Lemdar ahell give to Borrower,withaut charge,an annusl accounting oi tha Punds,ahowing credits and debits to the
<br /> Nunds and the purpose for which aach dabit to tha Punds wes made.The Funds ara pledged es additional security for all
<br /> sums secured by this Securlty Inotrument. 11cable law, Lender shall accc�unt to
<br /> Ii tha Funds held by Lender exceed the amounts permitted to be held by app'
<br /> Borro�ver for the exc�s Funda in accordance with the requiramenta oi applicable law. It the amount of the Funds held by
<br /> I.ender at any time is not sufticient to pay the Escrow Itema when due,Lender may so notify Borrower in writing,and,in
<br /> such case Borrower shall pay to I..ender the amount necessary to malce up the deficiency. Borrower ahall make up tho
<br /> dePiciency in no more than twelve monthly paymants,at Lender's sole discretion.
<br /> UExii�ybycTicii2 itt full oP H11 sums�cured b;th.is�^_��ri*-y I�Arrament:I xnder shall promptly refund to Bortower any
<br /> Funds heid by Lender.I[, under paragraph 21,Lender shall acquire or sall the Property,I.ender� prior to the acquisition or
<br /> sale of tha Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the eums
<br /> secured by this Security Inetrumant.
<br /> 3. Application oi Paymeats. Unless applicable law provides otherwise, 81l payments received by Lender under
<br /> paragraphs 1 and 2 shall be applied:first,to any prepayment charges due under tha Noto;second,to amounts payable under
<br /> paragrnph 2;third,to inserest due;fourth,to principal du�;and last,to any late charges dua under the Note.
<br /> 4. Charaes; Liena. Aorrower shall pay all taxes, assessments, charges, fines and impasitions attributable to the
<br /> Ptoperty which may attain priority ovec thia Security Instrument, and leasehold paymente or ground rente, if any,
<br /> Borrower ahall pay these obligations in the mannar provided in pamgraph 2. or if not paid in that mannar,Borrower shall
<br /> pay them on timo directly to the person owed payment.Borrower shall promptly iunush to Lender all notices of emounts
<br /> to be paid under this paragraph. If Borrower makes these pnyments directly,Borrower shall promptly furnish to L,ender
<br /> receipts�videncing tha payrt►ents.
<br /> Borrower shall promptly discharga any lien which has priority over this Security Instrument unlesa Borrower. (s)
<br /> agrees in writing to the payment of the obligatton secured by the lien in a menner acceptable to Lender; (b) contests in
<br /> good faith the lien by, or defends against enforcement af tha lien in, legal procoedinga wttich in the L,endcr's opinion
<br /> operate to prevent the enforcement of the lien; or (c� secures from the halder oi the l�en an agreement satigtectory to
<br /> Lender subordinating the lien w this Security lnstrument,li Lender deurmines that any part ot the Prop�rty is subject to a
<br /> lien which may ettain priority ovec thie Security Instrument, Lender mny give Bortower a notica id�tifying the lien.
<br /> Borrower shall satiety the lien or taka ona or more of the actions sat totth above within 10 days of tha giving at rtotice.
<br /> S. Hazard or Property Insurance. Bortower eha11 keap the improvements now existing or heteafter erocted on the
<br /> Property insured egainst loss by {ire. hezarda included within the term "extended covenge" and any other haznrds,
<br /> including floode or flooding,for which Lender requires insurance,Thia inaurance shall be maintained in the emounts and
<br /> for the periods that Le�ndet requires.The insurance carrier providing the insurance shall be chosen by Bonower subjxt to
<br /> I.ender's approval which shall nut be unreasonably withhold. If Bocrower fails to maintntn coverage descri bal above,
<br /> l,ender may,at Lender's option,ubtain coverage to protect Lender s rights in the Propetty in accordance with paregraph 7.
<br /> Pnge 2 of 6 Porm 302119f90
<br /> - CMORT2/NECMT2 9674060
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