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<br /> UNIFORM COVENAPJTS. Borrower and Lender covenant and agree as fullows: �� � 4 �
<br /> 1. Payment of PNncipal and Interest;P�epsyment and Late Chargea. Borrower shall protr�lt�j pay�wh�n�ue the
<br /> � principal of and interest on the debt evidencecl by ihe hote and any prepayment and late charges due under the Npte.
<br /> Z. Fu�dsforTl�xesa�nd Insu�a�ca. Subject to applicable law or to a written waiver by Lende�,8orrower shall pay
<br /> to Lender on the day monthly paymeMs are due under the Nate,unUl the Note is pai0 m full,a sum ("Funu�'}aqual to
<br /> one-tweltth ot; (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearty
<br /> leasehold payments or around rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearty
<br /> mo►tgage insurance premiums,if any.7hese items are called"escrow itemS'. Lender may estimate the Fu�ds due on the
<br /> basis�t current data and reasonable estimates ot tuture escrow items.
<br /> The Funds shall be held in an instltution the deposits or accounts ot which a�e insureci or guaranteed by a federal or
<br /> state agency (including Lender it Lender is such an institution� Lender shall appty 1he Funds to pay the escrow items.
<br /> , Lende�may nof charge ior holding and applying the Funds,analyzing the accour�t or ver�lying the escrow items,unless
<br /> � Lender pays Borrower inte�est on the Funds and appl�cable law perm�is Lender to make such a charge. Borrower and
<br /> Lender may agree in writing that interest shall be paid on the Funds Unless an ag�eement is madQ or applicable law
<br /> requires interest to be paid,Lender shall not be requirod to pay Borrower any interest or earnings on the Funds.Lender
<br /> shall give to 8orrower,w�thout charge.an annual account�ng of the Funds showing credits and debits to the Fund�andthe
<br /> purpose for which each debit to the Funds was made.The Funds are pledged as add�t�onal security tor the sums secured
<br /> , by the Secunty Instrument.
<br /> t}the amount of the Funds h81d by Lender,together w�th ihe fulure monthly payments o1 Funds payable prior tothe
<br /> due dates o1 the escrow items,shall exceed the amount requ�red to pay the escrow items when due,the excess shall be,at
<br /> Borrowo�'s option,either promptly repaid;o Borrower or c:ed�ted to Bo�rower on monthly payments of Funds. If the
<br /> amount of the Funds held by Lender is not sutf icient to pay the sscrow items when due.Borrower shal l pay to Lender any
<br /> amount necesssry to make up the defic�ency in one or more payments as required by lender.
<br /> ; Upon payment in full p1 all sums secured by this Secur�ty instrument.Lender shall promptly refund to Bor�owerany •
<br /> � Funds held by Lender.If under paragraph 19 the Property is sold or acquired by Lender,Lender shall apply,no late�than
<br /> ; immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br /> � application as a c�edit against the sums secured by this Secunty Instrument.
<br /> ' 3. Applicatlae o1 Payment�. Unless app�icable�aw p�ovides otherwise,all payments received by Lender under
<br /> paragraphs 1 aRd 2 shall be applied:first,to late charges due under the tVote:second,to prepayment charges due under
<br /> the Note:third,to amounts payable under paragraph 2;tourth,to i�terest due:and last,to p�incipal due. , ; .
<br /> 4. Chs�ges;Liens. Borrower sha�l pay all taxes,assessments,charges,fines and impositions att�ibutable to the '. -
<br /> Propeny which may attain priority over this Security Instrument, and leasehold payme�ts or ground rents, i1 any. =
<br /> Borrower shaU pay these obligations in the manner provided in paragraph 2,or if not paid in that man�er,8orrower shall � y-
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<br /> - - - �or thcr:�r�tims dir�st.ylo.h„�..r°,.n e:.��..r_;. ..__e.�_�_r cha����mm�tly turnich tn Lender all no2ices ot amounts to
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<br /> be paid under this paragraph. It Borrotiver makes these payments directly. Borrower shatf promptty furnish to Lender
<br /> receipts evidencing the payments '
<br /> 8orrowe►shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a) '�
<br /> � agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in - --�
<br /> ! good faith the lien by,or defends against enforcement oi the lien in, legal proceedings which in the Lender's opinion �
<br /> ; operate to prevent the entorcement af the lien or forieiture oi any part of the Property:or(c)secures from the hotder of the -
<br /> lien an agreement satisfactory to Lender subordinating the lien to th�s Security Instrument.H lender determines thatany -
<br /> part of the Property is subject to a lien wh�ch may attain priority over this Security Instrument.Lender may give Borrower a
<br /> � notice identifying the lien.Borrowe�shall satisfy the lien or take one or more of the actions set forth above within 10 days of
<br /> the giving of notice. �'
<br /> � � 5. Hszard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured against loss by fire,hazards included within the term"extended coverage"and any other hazards tor which
<br /> Lender requires insurance.This insura�ce shall be maintained in the amounts and for the periods that Lender requires. �
<br /> The insurance carrier providing the insurance shall be chosen by Borrower sub�ect to Lender's approval which shall not be �.�
<br /> unreasonably withheld. � ,�
<br /> All insurance policies and renewals shall be acceptable to Lender and shall mclude a standard mortgage ctause. ;
<br /> Lendershallhavetherighttoholdthepolic�esandrenewals.IfLenderrequires,BorrowershallpromptlygivetoLenderall �V —
<br /> • receipts of paid premiums and renewal notices. In the event of loss.Borrower shall g�ve prompt notice to the insurance �.,
<br /> carrier and Lender.Lender may make proof of loss if not made promptly by Borrower.
<br /> ; Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be appfied to restoration or repair _ _
<br /> ; of the Property damaged,if the restoration or repair is econom�calfy feasible and Lendei s security is not lessened.lt the
<br /> restoration or repair is not economically}easible or Lender's security would be lessened.the fnsurance proceedsshall be
<br /> applied to the sums secured by this Security Instrument,whether or not then du8,with any excess paid to Borrower. If
<br /> Borrower abandons the Property.or does not answer w�thm 30 days a notice from Lender that the insurance carrier has
<br /> : offered to settle a claim,then Lender may collect the�nsurance proceeds.Lender may use the proceeds to repair or restore
<br /> the Property or to pay sums secured by th�s Secunty Instrument,wnether or not then due.The 30-day period wil!begin
<br /> when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceeds to pnncipal shall not extend or
<br /> postpone the due date o1 the monthly payments referred to�n paragraphs 1 and 2 or change the amount ot the payments.It
<br /> under paragraph 19 the Property is acquired by Lender,Borrower's nght to any�nsurance potic�es and proceeds resulting
<br /> from damage to the Property pnor to the acquisition shall pass to Lender to the extent oi the sums secured by this Security
<br /> Instrument�mmediately prior to the acquisition. - -- -
<br /> 6. P�eservatlon snd Malntenance of Property;�esaeholds. Borrower shall not destroy. or damage or substan- �
<br /> tially change the Property,allow the Property to deteriorate or commit waste If this Secunty Instrument is on a leasehold. l
<br /> Borrower shall comply with the provisions of the lease.and if Borrower acqu�res tee trtle to the Property,the leaseholdand i �
<br /> iee title shall not merge unless Lender agrees t�ihe merger in writing. �
<br />. ' 7. ProteCtion of LenAer'sRights In the Prope►ty;1VIGRgage InSUfanCe. it tsor►owerfaiisto perfiorm ine covenanis ,
<br /> and agreements contained rn this Secunty Instrument,or there is a legal proceed�ng that may s�gn►f�cantly alfect Lender's
<br /> � rights in the property(such as a proceeding in bankruptcy.probate.for condemnat�on or to enforce�aws or regulat�ons),
<br /> then Lender may do and pay for whatever�s necessary to pratect the value of the Property and Lender�s r�ghts �n the
<br /> PrOperty Ler�der's actions may include paying any sums secured by a lien which has priority over this Security '
<br /> Instrument,appearmg in courL�aying reasonabla attomeys'fees and enter�ng on the Property to make repa�rs Although f�
<br /> Lender may take aChOn under this pa�agraph 7. 1 Fndpr cfoPS not have to do so �
<br /> Any amounts disbursed by Lender undor th�s par�gr�ph 7 sh�ll become add�tional deht ot Borrower secured by this ,
<br /> Sec�!nty Instrumem Unless Borrower and l ender agree to other terms of payment tnose am��unts sn�ii be.0�ntrrt�st tro�n t, „
<br /> thES ddte ot tlisbi�rsen,��nt at the Note rata and sh�ll be� payable- w�ih inte«:sl i�pUi� ��c�1�i e• 1rr�m L rnder tc�E3o►rowc�r
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