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<br /> � � �t" mauraats aad e�ill defend generaaly the title to Lhe Property against ail
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<br /> ;.'�°Y;; .'� ���F; c2afms aa.d demaade. aubject to any encumbrances of record. . `<'.�.
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<br /> . . .;�;•.�:`.. COVBNANTS. Horra�er and Leader cavenaat aad agree as follov�st ``
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<br /> :`.�,.��`�z � °� i. Bayment og Pri�cipaY and Interest= Prepaymeat and Late Ghargea. '
<br /> _:�,';�"_„ ,'�,��-._ Borrower eHal.l prcmptly PaY. whea due. the prinaipal ot aad interest oa the .j���-`':
<br /> ` �. , debt evidenced by t�e Hote and any prepaymeat an$ late charqes due uader tue -
<br /> • ' Nate. if any.
<br /> ��' � `4 2. FUatda for Taxee and Tnu+�ran�: Borros�er agrees to pay for all r�al -
<br /> .. , •.��., `� eatate taxes aad iasurance as they beccme 8ue by piacing the fvnds ia an .�.,,
<br /> :�� escmm accouat if required i�y Lender. �.,.��
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<br /> ;:,,,� 3. Appiicatioa of Payments. All gayments received by Leader under „-
<br /> ` � � paraqraph 1 snall be applied: firet, to late G�argea due u�nder the Note, if
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<br />- � . aayf aecoad, to pregayment charges due uader the Note, ig anys t.lsird. to � _-::
<br />� . �,� ''l iaterest dues aad. laet, to principa3 du�.
<br /> 'f --- -- - -- - 4. Char3es: i.iena. Sorromer abal� pay all taxes. assessraeats. ct�ar5e8. ��-.
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<br />.=.;�-�-���" - €iaes, and impoaitions attributable to t$e Property�hicb may attain priority , �`:�``
<br /> - aver this 8ecurity tnsr=+��nt. Sorroa�er shali gay them on time ESirectiy to � "
<br />�'. � the persoa owed payment. When Borrower makes these paymeats directly, �,;,��,�_�:
<br /> �.k-�� Borroo�er sY�� pramptly furaieh to Lender receipta evidencing the paymeats. �'=�_�
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<br /> . Sorroaoer shali ps�omptiy diset�arge any lien aeisfch has priority over tlai$ .�.
<br /> : � �� .... 3ecurity Instrummt �mless Borroaver: (a) agrees in �sitiag to the payment o� °=--._,
<br /> - • � � ttce obli�atioa secured by rhe Iien ia a caaaner acceptable to Lenders (h) • __-
<br /> ��°'•.. �� contests ia good faith the liea by, or defen8s agaiast enforaem�at of the
<br /> � ' ' lien in, legai proceediags �hich ia the Leades�s opinion operate to prevent
<br /> � ; '� ; th� enforce�eat of tlie lien or forfeiture oP any gart of the Prapertys or (c)
<br /> - � . secures from the holder of the Iiea aa agree�nt satisfactory to Lender �°���
<br /> subordiaatiag tt:e liea to this 3ecur�.�y instr�sa�nt. IY Lea�er detesmines , —
<br /> f'�'.; � .:.,�� that aay part og th� Prapexty ia sub j ect �to a liea mbich may attain priority
<br /> . ever tI�i.s Secmcity iastsvment, Lender may give Hoazower a aotice ideatifyiag .
<br /> � . .- , �s the liea. Borramer et�all satisfy the lien or take ane or more of the actfans `�_
<br /> ..� � . set forth above mfthin 10 daya oY the giviag of notf.ce. -_" -
<br /> .. . ,•, �• ` ' � �. 5. Hazard Znsurauce. Borromer eball keey3 the impravementa na+a existiag � �. _
<br /> �...,�.;�....: . ;,:��i , er tiereafter e�ceetec4 on the Property inssured against lasa by fir�. �...
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<br /> �,... . �g included w���hia the term "extended cavera.ge" aad �,r otlaer hazards for whicb � _-
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<br /> ,r;�,na . aad for the perio� �t Lender requises but not less tt�an the amouat ame� � ���
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<br /> , �r� Lender. � insuraaFCe carrier providfag the inmwranre shali be chosea Dy -
<br /> �•`'�.,�' �':'''.,;"'.�; � � Borrower �su�aject to Lendert�� aPProval which shall not be unreasonably �. �.._
<br /> . aoithheld, aiud Lender aha2i �ic� �rovided a cepy cs� eaid insurance g�Picy. � —
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<br /> � • � '� , All iasurance policies and renew�ls sIU311 be acceptable to 7.ender aa�. . -
<br /> �' '�' ��•�}E s�ll iaclaxde a standard mortgage clause. • �ttder s�a].1 have the r3ght to • --
<br /> " � � hold the �S��:icies aad Yea�als. If Lender requ�.r�s, BorraaPer sAa12 promptly � �---
<br /> � � < give to L�.z3er all receiptg of paid premiums and rener�al aotices. Ia the �=-,
<br /> 1 � event of loss, Borra�aer s2�a].1 glve prarapL notice to ttis i.neurance cazrier an8 � �;_�
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<br /> +�� ' ''. Lender. LenBer may make proof oY lose i� not ma8e prantptly by Borrower. =;_
<br /> �' �� `.' � Uale�s Lender and Boz�o�er otheswise agree in �riting, iasurance ��'
<br /> �� � �. ��. ? proceeds shall be applied to restorat3on or repair oP the Propert�r damaged, -.
<br /> ��� if che reatoration or repair ie economically feasible aad Leader•e serurity _
<br />?� ••. + � is not lessened. IY the restoratian or repair is nat ecoaomically feaaible
<br /> . or Lenfler�s security s�ou1�9 be lessened, the insurance procee8s shali be '
<br /> �' --.�= applied to the sums secured by thia security Znstrument. +ahether ar aot then =
<br />� �-'�-.'` due, s�ith aa�y excesa paid to Borrower. Tf 8orroaPer abaadons the Property. or
<br /> �:� � . . @oea aot answer ovl.thia 38 days a notice from Leader that the insurance
<br /> .;��.�:. � carrier ttas offere� to settie a claim, thea Leafler may coliect the insuranre ���
<br /> � . � proceeds. Lender may use the proceeds to repair ar restore the property or
<br /> ��� ` � 1 � to pay sums secured by tt�i.s Security �astrumeat, vhether or not then due.
<br /> .� �� The 30 8ay periafl mili begin �ahea the notice la given.
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