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<br /> ���; 1Q0933
<br /> Utv7�oRM CovENn!�'75. Borrower and Londer coucnant and agee as fo3lows: _
<br /> i. Pa}rment ot Princip�l�ad Int�erest;Prepayment and I.Ate CltarBes. Bcnower shall promptly gay when due
<br /> the principai of and interast on the debt evidenced by the i�3ote and ar�y prepayment and lat:charges due under the Note.
<br /> � 2. Funds farTaxes wKl Insurance. Subject tA applicabte ta�c or to a written waiver by I.ender.Borrower shali pay
<br /> to Ler:der on the day monthty payments arc due under the 1Votc, until the Nofe is paid in ful1,a sum("Funds')egual to
<br /> � � one-iwelfth of: (a) yearty taa�ces and ass�ssments Khich may attain priority over this Security Instrument; (b) yearly
<br /> lsasehold paymenu or gxound rents on the PropGrty, if any;,(C) yearly hazard insutanse premiums; and (d) yearly
<br /> � martgage insurance premiums,if any.These ieems ar�calted"e�crow ite�s."�dtr er�ay estim�te the Funds due on the •
<br /> basis of curreat data And reasonable estimates af future escrow items.
<br /> 'the Funds shal)be held in an institution ttte degosits or aceounts of which are insured or gtsaranteed by a fed�ral ar
<br /> ' state agency(inc[uding Lender if Leader ss such an institotion}. Ixnder shall apply the�unds to pay the escraw items. .
<br /> Lrnder may not charge for ho2ding and appIying the Funds,analyzing the account or verifying the es�crow items,u�sless
<br /> _ , [.ender pays Borrawer inierest on the Fuads and applicabte law permits Lender to make such a charge. Borcower and
<br /> Lender may agx in writing that interest sha11 be paid on the Funds. Unless an agreement is made or applicable law
<br /> requires interest to be paid.L.ender shall not be reqerired to pay Borrower any interest or earnings on the Funds.Lender
<br /> shall give to Borrower,without charge,an annual accounting of the Funds stmwing crediu and debits to the Funds and the
<br /> � purpose for which each debit to the Funds was made.The Funds are pled�ed as additianal secu�ity for the sums secured by
<br /> � thisSecurity Instrument.
<br /> If the amount o�the Funds held by Lender,together a�tte the future mnnthly payments of Funds payabi�e priar tv
<br /> the due daLes of i9�e escrow items,shall exceed the amount re��:ireai to pay the escrow items wtten dae,the eacess shall be,
<br /> at Bonower's option,eit�er promptly tepaid to Borrower or credited to Bonower on monthly payments of Fards.If the
<br /> amount af the Funds�tId by Lender is not s�cient to pay the escrow it.iiss alten due,BorroweF s�ia12 pay to Lender an� .
<br /> amount necessary to make up the de6Ciency in one or mose payments as required hy Lender.
<br /> Up�n payment in fiill of all sums secureci by this Securiiy Instrument,Lender shall pramptIy ret'und ta�onower
<br /> .� any Fund�Letd by Lender.If under paragraph 19 the Property is sotd or acquired bg L.ender,Lender sha1l ap�iv,`no later
<br /> . than immediaiely.prior to the sale of the Pmperty or its acquisition by i.ender,ans°Fuads held by Lender at t�:time of
<br /> app3ication as a crrdit�ainst the sums secured bb this Security Instrument.
<br /> 3. Appltcat�ia nf Psymeats. Unless appticable law p*ovides otherwise,��ymeats received by Lender under
<br /> paragraphs 1 and 2 sEat!be apptiod:Rrst,to late charges due under the Note;second.teta�repayment charges due under the
<br /> Note;third,to amour.ts payable und.r paragraph 2;fourth,to interest due;and last.ta Erincipal due.
<br /> � 4. Chsrges;Li;Eas. Borro�er shall pay all ta�crss,assessments,eharges.fir_e§and impositions attcibn��jsle to the
<br /> T Property which may �..ain priority,ovcr this Security Instrument, and leasehold paymenu ac�,round re:�ts, if any.
<br /> Bnrrower shall pay tkese obligations in the manner provided in paragraph 2.or if not paid in that mr..nner,Borrower shall • .
<br /> , pay them on time directly to the person owed�Saymeni.Borrower shall promptly furnish ta Len�c�a!1 notices oF amounts ,
<br /> � to be paicfi u�der this paragraph.If Borrawer makes these payments directly,Borrower shall promptly furnish to Lender
<br /> receipu evidencing the payments.
<br /> Borrower shall promptly discharge any lien�vhich has priority over this Security Instrument unless Borruwer:(a) '. '
<br /> agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests en good '
<br /> faith the lien by,or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to .
<br /> + ' prevent the enforcemer�t of the lien or forfeiture of any part of the Properry;or(c)secures from the holder of the lien an
<br /> agreement satisfactory to Lender subordiaating the lien to this Secarity instrument.If Lender determines thai any part of ,
<br /> the Praperty is subject to a lien which may attain priQrity over this Security Instrument, Lender may give Borrower a .�
<br /> notist identifying the lien.Borrower sha11 satisfy the lien or take one ar more of the actions set farth above within 10 days �
<br /> of the giving of norice. '
<br /> 5�. L�Lazard Iesurance. Bonower shal!keep the improvements now eaisting or hereafter erected on ct�e Property ;
<br /> insured:�;iir.sti:r�ss by fire,hazards included within the term"extended covera�e"and any other hazards for w i_:%b Ixnder
<br /> requires insucance. This insurartce shall be maintained in the amounts and for the periods that L.ender requir�. The
<br /> insurance eamer pro��iding the insurance shall be chosen by Borrower subject to Lertder's approval which shaQ not be �
<br /> unreasonably withhcl�. !�
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage ciause. • •
<br /> I.ender shaU have the rigi�t ta hold the policies and renewals.If Lender requires,8orrower shall promptly give to Lender tJF .
<br /> all receipts o�'paid premiums and renewal notices.In the even3 ot'loss,Horrawer shall give prampt nntice to the insurance
<br /> carrier and l.ender.Lender may make proof of loss if not made promptly by Borrower. ..�!►
<br /> Unless Lender bnd Borrmwer otherwise agree in writing,insurance pro�eeds shall be applied to restoration or rcpair �
<br /> of the Property damaged.if'the restoration or repeir is economically feasible and Lender s security is noi i��:ened. IP the
<br /> _ restoration or repair is not economieally feasible or Lender's security would be lessened,the insurance prc�ceeds shall be
<br /> applied to the sums secured by this Security Instrument.whsth�r or not then due�with any excess paid to Borrower. lf
<br /> Borrower abandons Ihe�'roperty,or dces not answer within 30 days a notire from Lender that tl:e insurance carrier has
<br /> � offered to settle a clzim.then l,ender may collect the insurance presceads. Lender may use the prct�aeds to repair or restore
<br /> � the Property or ta pay sums se�ured by this Security lnsttument,whether or not then due.TFe �Q•day period will begin
<br /> when the ttotice is given.
<br /> Unless Lertder and Borra���er olherwise agree in writing.any application af procecds to pris�cipa)shall no!extend or
<br /> postper:e the due date of the monthly payments referred to in paragraphs 1 and 2 or cha;�ge!.he amount of the payments.!f
<br /> _ under paragraph 19 the Property is acquired by Lender.Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the wroperty prior to the acquisiti�n shall pass to Lender to the ext�m of the sums secured by chis Securi�y
<br /> Instrurncn t immediately prior to the acquisition. `
<br /> 6. Preserratian and Maintenance of Praperty:Lestsehalds. Bonowcr shall n�t destrc�y.damagc ar substanti�lly
<br /> � change the Property,allow the Pro�erty to deteriorate or commit waste. IP this 5ecurity Instrument is on a leasehold.
<br /> Horrower shaU camply with the provisions of'the lease,and iPBnrrower acyuires fee title t�the Property,the leasehold and ;-_--_- -
<br /> fee title sh�ll not merge unless Lender agrees tn the:nerger in writin�. • �
<br /> � 7. Pratectian ot I,endtr's Rights in the Property; Mortg�ge Insurance. If E�arrower fails to perfarm the
<br /> covenants aad agreements eontained in this Security Instrument,ur there is a legal proceeding that may signifirantly affect
<br /> _,,, i.�ndr.r'c rigf�tc in the Qm;+�ly(cach ac a rrnEPetiin�in t+ar_kn��+tcy,�roh�te, fi�r r.nndemnatinn nr tn enfiuce laws nt r
<br /> — , regulatitins>,then I.,ender may do and pay fnr whatever is necessary to protert the v�lue��f the Properry and Lender'c rights
<br /> .�..� in the proper�y. Lender's actions may include payin�y auy sums secured by a (ien which has pr�urity nv�:r this 5ecurity �
<br /> L instrument,appearing ic�court.paying reasvnable attorrteys'fees and entenn��m the Pro�+erty t<�makc rcpairs. Although
<br /> Ixndce may take action undcr�his paragruph�.Leuder daes nat have t�ciu sv.
<br /> � Any amountsd�sbursed by l,en�ler under this paragraph 7 Shall beec�me add�ttvn;�l deht��P H��rruw•cr�crured by thi�
<br /> Security Instrument.Unle�s Hc�rrnwer and Lender agree tn�ther term��f payment,these acm�unts chap hear iuterest irnm �
<br /> the date uf eiisburscnunt ut t.he Nute rutr and shall be �+<,yablr, w�lh �ntrrc�t. up��n nottrc fnnn Lcnder ti� Hnrrnucr �j�
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