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<br /> U:�tFOxt►Z CovEN��'T5. Borrowes and Leridtr covenant and agree as follows:
<br /> l. Paymeat o!Principal�nd Iateres�Prepaymeet and Lte C6�sges. Borr�wer shall promptly pny when due
<br /> the principal of�d interest on thedebt evidence�i 6y the Note and any prepayment and late charges due under the Nose.
<br /> 2. Fuads for Tazes and Insurince. SubSect to applicable law or to a�Yritten a�aiver by Lender.Borrower shall pa}•
<br /> � • to Len�er on the day monthly payments are due under the Note,until the Note is{�aid in futl,a sum("Fnnds")equp!to
<br /> one-twelRh of: (a)yearly tuxes and assessments which may attain priority o�er this Security Insirument; (b) yearty
<br /> teasehold paymenu or �ronnd renis on thr Propeny, if any; (c) yearly ha�.�+rd insurance premiums; and(d) yearlg
<br /> atoragagt insuranCe premiums,if any.These items are called"escraw•item3" I,ender may estimate the Funds du�on the
<br /> basis of curre�i data and reasonabte estimates of future escrow items. �
<br /> The Funds shall be held in an institutian the dcposits or accounts of w•hich are insured or guaranteed by a federal or
<br /> state agency(inciuding Lender if Lender is such an institution).�Lend�r shall apply the Fuaads to pay the�sctou items.
<br /> � Lender may not chaegr for hoIding and applying the Funds.analyzing the accaunt Qr aerifying the esc�ow items,unless
<br /> -� Lende�pays Borrower intere.st on the Funds and applicable law permits I.ender ta make such a charge. Borrower and
<br /> � Lmder may agree in writing that interest shaU be paid on the�unds. Unless an agreement is made ar applicabl.law
<br /> roquires interest to be paid,Lender shall not be requised to pay Bonow er any interest or earnings on the Funds.Lender
<br /> shall�veto Borroa•er,withaut charge,an annual accounting ofthe Funds showing cre�its and de6its to the Funds and the
<br /> purpose for whict��ch debit to the Funds was made.The Funds are pledged as additional security for the sums secused by
<br /> this Secnriry Instrvasent.
<br /> If the amat!at.aF the Funds held by Lender,together with the future monthly pavments of Funds payable prior to
<br /> . the due dates of the escrow itcm�,shall exceed the amount required to pay the escrow items when due,the excess st�all be,
<br /> � at Boaower's op.in�. either romptf: re,�aid to�ionower or credited to Bnrr�wer on raonthly payments of Funds.If the
<br /> , amount of the Fund��eld by Lender u noc��ciznt ta pay the escrow items when due,Borrawer shall pay to Lender any
<br /> � � amount necessary ta rnake up the deficienc}uti.one or more payments as required by Lender.
<br /> � � Upon payment in fuU af all sums secured by this Security Instrument,Lender shall pra�ptly refund ta BarroKCr
<br /> � '_ any Funds held by Lertder.7f under paragraph 19 thc Fra�serty is sotd or acquired by Lender, Le�der shall apply,ao Iater
<br /> . than in;mediately priot to the sale of the Pro�erty er it�.:u:quisition by Lender,any Funds held by Lend�a.t the rime of
<br /> : appli��ion as ac�u.it against the sums secur�d.(1ti,thisSgcurity Instrurnent_
<br /> 3. A�rJ.t"s�3n of Payments. Unl�-�a�Plicable law p►ovides atherwise.all paymenfs szc.°ived by Lender und�
<br /> paragr��'�s 1 and�shall be applied:first,to t.atecharges due under the Note;second,to prepayment charges due under th•
<br /> Not�tlsi�,eo amounts payable under paragraph 2;fourth,ta interest due;and last.to prineipal due.
<br /> ' 4. Charges;Liens. 8c3rrowec sha!1�Zay all taxes,assessments,charges,fines and impasitions attributable to the
<br /> �PropeRy which mau attain c*i�,~ity,over t3:��Security Instrument. and leasehold payments or ground rents, if an�. , , �
<br /> Borrawer shall pay d►�e obligations in the�rner provided in paragraph 2,or if not paid in tlr;�manner,Eonower sha.EL • �
<br /> pay them on time��tly to the person oFe3.�sayment.Borrower shal)promptly fumish to Lr,�s�ie�r all notices of amou�r� � .
<br /> to be pad under tbis paragrapts.lf Borrower makes thr�gayments direcily. Borrawer shall p.�:nptly fumish to L�nder
<br /> receig��.�evidencing t6e payments. �.
<br /> �arrower shall promptly discharge a.�.g lien which has priority over this Security[nstrument unless Borrawer:{al
<br /> agrees in writing td tYye payment of'the obli�ati+an secured by the lien ir�a rnanner acceptable to T�der,(b)contests in ga��C
<br /> faith the lien by,osdefends against enfnrcement af the lien in,legal proceedings which in the I.eader's opinion aperate co �
<br /> � prevent the enforcement of the lien or forfeiture of any part of the Property;or(c)secures from the holder af the lien an
<br /> agreemrnt satisfactory ta Lender subordinating the lien to this Security Instrument.IP Lender determines that any part of . '
<br /> the Pcoperty is subject to a tien which may attain priority over this Security Instrument, Lender may give Borrower a --
<br /> ' notice identifying the lien.Barrower shall�?r±�;fy the lien oe take ane or mdre of the actions s`t f.orth above within 10 days __
<br /> of the giving of notice. ', �
<br /> 5. Haz�rd Insuraltce. Borrower shail keep the improvements now e�►�sting os hereafti:r.,rected an the Property
<br /> � insur�;.against lossby fire.hazards included withsn the term"extended covernge"and any other 3�azards for.��ir'ch Lender
<br /> re�u.vti�insurance.This insurance sha11 be �ta:rtzile�::�. the amounts and for the periods twat Lends. c-�:�uires. The
<br /> insurance carrier I roviding the insurance sf.La1�l�e chasen by Horraw•er subject to Lender's 3���ova1 which shall nat lsc
<br /> unroasonably with;:�:d. ;'
<br /> All insurance policies and renewais s:�all be acceptable to Lender and shall include��sPandard mortgage clause. '
<br /> Lender shall have the right to P7.���the_policies and renewals. IPl.ender requires,Barrower shall promptly give to Lender _
<br /> all reeeipts af paid pcemiums a13:ci'renewal notites.In the event of loss.Borrowpr shall give prompt notice to the insuranee
<br /> ' carrier and Lender.Lender may make proa:'�f lass if not made prompt ly by Burrower. "�a_
<br /> Unless Lender and Borcower otherwise agree in writing,insurance proceeds shall be applsed to restoration or repair
<br /> oF the Property damaged,if the restoratinn or repair is economically feasible and Lender's security is not lessened. lf the
<br /> restoratian or repair is not econ��mically feasible or Lender's security would be le�sened.the insurance prpceeds shall t�e ,
<br /> ; appliR..�t to the sums secured b5� ti�is Security Instrumentn whether or nat then duc, with any eacess paid to Borrower. If
<br /> � Borrower abandons the Prope?�iy�,or does nat answer within 30 days�a nu�ice frc:-n Lender that tfie inSUrance carrier h�s
<br /> offered to settle a clzim,then f�Psder may cnlle�t the insurance procaa��. Lender r.�ay use the proceeds to repair or rest4re
<br /> the Praperty or td pay sums�:�red by thi� 5ecurity Instrament,whett�er or not ehen due.The 30-day period will brain
<br /> when the natice is given.
<br /> Unless Lender and liorra,wer othencese agree in writing.any application of pcnceeds to principal shall not extend or
<br /> postpone the due date of the mc�nthty payments referred to in patagraphs 1 and 2 or change the amount os the payments. If
<br /> under paragraph 19 the Praperty is ucquired by Lender.Barrower s right ta any insurance policies and pr�oceeds resulting
<br /> from damage to the Properly prior to ihe acquisition shall pass to Lender to the extcnt of thc sums securcd by this Security
<br /> .Instrrimcnt immediately prior�o the acquisition, �
<br /> 6. Prese�vation and Maintenance of Property;l.easehalds. $nrrower shall nnt destroy,damage��r subst7ntial!�•
<br /> change the Property. allow the Property to deteriorate or commit waste_ If this 5ecurity Instrument is on �leasehold,
<br /> — Be�rrower shall cc�mply with thc provisians af'the lease,and if�orrower acquites fee title t�the Property,the leaschold and .__-_— -
<br /> Pee tide shall not merge unless L.cnder agrees to the merger in writing. '
<br /> " 7. Protection ot I,ender•s Rights in the Property; 1�lort�ge lnsu►9nce. If Aorrower f;�ils to perform fhe �
<br /> cavenants and agreements contained in this Seeuriry lnsuument,c�r there is a legal proceeding that may significantly affect
<br /> i.ender's righis in the Property (such ns a proceeding in bankruptcy. probate. fnr cc�r�demnatinn or tn enibrce lawc or ,
<br /> = ieguriuii��riy,Eierrr i,cycdrt may ci�iartci pay fi�r whafrves is necessary tiT profert the vaRuc e��'liir Fropert��ini i.rridrr'w t t�;�►t� s
<br /> in Ihe Pro�+erty. t.ender's acti�ns may inciude paying any sums secured�y:s lien «�htch hi�s pn�ritp over thi� 5ecurit}� ��
<br /> � � insliumeRt.appeating in c�urt.paying reas��nable s�ttorneys fees�nd entering un the Property�v make rep:i�rs Althaugh
<br /> . L i.enc[er m�y taice action under ii�is�aragraprt 7.ixnder d��es not have t<�cio sn. �
<br /> Any amounts dicbursed hy l.ender und:r this paragraph 7 shalt beee�me add�ttonal deht uf Hc,rr�ncer secured hy th�s
<br /> Secun[y Ins�runtcnt. Un1ec�i�urrc�wer and Lender agrec to other tcrmti of�+aycnent,the�c acm�unt��hail F+car rntctr�t fr�+m �"
<br /> thc �;►<e uf d�sburscment t�t the Ne�fe t.�te .+cid shall hz p�yah(r. at:h interest, up��n n��hcc fre�m I endcr t��Ilurrotret �f
<br /> request mg pay rtTent
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