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<br /> j lltviFORt►rt��vENa►YTS. BorroSVU and Lender covenant snd sgre:as follows:
<br /> . l. Psyment of PrFrtc[pal su+d Interes�Prepayment and I.ate Ch�tges. Borrower shall promptly pay when due
<br /> the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> 2. Fands for T9zes and Insartnce. Subject to applicable law or to a written waivec b�Lender,Borrower shall pau•
<br /> � to txnder an the day monthly paymenis are due ander the Not�until the h'ote is paid in fult.a sum("Funds")e�un!to .
<br /> one-twelfth of (a) yearly taxes and assessments which may attain priority over this Security Instrument: (fi) year!!!
<br /> � leasehold payments or ground rents on the Proptrty. if any; (c) yearly hazard insurance premiums; and (dy year�y
<br /> mortgage insurance premiums,if any.Thess itams are caited•'escrow items."Lender may estimate the Funds due on the
<br /> basis of cusrent data an3 n�sonabie estimates atfitture escrow items.
<br /> The Funds shall be he13+n an ins.�irilti�in 6hudeposits or accounts of which are insured or guaranteed by a federal ar
<br /> state agececy(including Lender if Leud�r a�:st�ah an institution).Lender shall apply the Funds to Qay the escrow items.
<br /> - • Lender may not charge for holding and:t►pRlgitlg the Funds.analyzing the account or verifying the escrow items,unless •
<br /> - Lender pays Borrawer interest an�Efe.Fuadc and appticable law permits Lender to make such�charge. Borrower and .
<br /> � Lender may agree in wr�ting that iateregs sh�ill�be gaid on the Funds. �Jnless an agreement is made or applica6te luw•
<br /> requires interest to be�id,Lendet shall not be required to pay Bonower any interest or earn'sngs on the�unds. Lender
<br /> _ shall give ta Eorrower,withaat cb�rg�:,an anaual accounrin�of the Funds showing credits and debits to the Funds and the
<br /> purpose for cti}iich each debit to th�Funds was made.The Funds are pledged as additianal security for the sums se�ured by � '
<br /> this Security 3nstrument_
<br /> - If the amaur�t of the Fands 6eld by I.endrar,:tagether arith the futnre monthly pa,vments of Funds paya6te prior ta• -
<br /> b�;a:due dates of the escrow items,shail exceed:dt�tu�rQUnt required to pay�the escrow items when dtte,the eacess shnU be,..
<br /> af;•t3orrower's aption,either prorrtpily repaid tv t��T�cver Rscm_dited to Sorrawer an montHly payni�ents af Funds.If'th� •
<br /> amount of the Funds held by Lender is not su.ffi�"i�ai:t�1 p�y tlrec��row items when due:fforrower shall pay to L�nder aiiy• �
<br /> amount necessary ta make up the deficiency in Qn�.�zrmar��5��+!nents as required by Lerider. .
<br /> Upon payment af.full of all sums secure�fir t�iis Sectttity Instrnment.Lender shall promptly refvnd to Horroicrsr.
<br /> —� any Funds heid by I.en�ir�r.If under paragraph f4 the Propertv is soid ar�asquired by Lender,Lender shull apply,no 3ater
<br /> , than imme�ately prior to the sale of the Property ar its acquis�tian by Leztder,any Funds held by Lender at the time of
<br /> — applicatior��a credit against the svm�secured by ihis Securit�Instrument.
<br /> 3. Application of Payment. Untess applicable law p*ovides otherwise, all payments received by Lender under
<br /> paragaaphs 1 and 2 shaf!be applied:first,ta late chasges due under the Note;second,to prepayment charges due under the
<br /> — Note;third,to amounts payable under paragraph 2;fourth,to interest du:;and tast�ta principal due.
<br /> � 4. Charges;Lierts. Bonower shall pay all taaes,assessments,charges,fines and impositians attributable to the
<br /> . Property wLilch may attain priorinj,over this Security Ins.ttt�ment, and leasehold•pEyments or ground re-nt�: iP any.
<br /> Banowe:�.�:1 pay these obligations in the manner provided ii�paragraph 2,or if not paid in that manner,Horci�s�er shall '
<br /> , pay ther:���.�ime directly to the person owed payment.Borrower shall promptly furnish to Lender all notices�Fs.mounts � �' �
<br /> — ris be paid�nder this pa�raph.[f Borrower m�c-�these payments directlp, Bonower shaA promptly furnish to Lender . :��_
<br /> se:eipts evi.dencing the Fayments. ,':'`�.
<br /> finrc��wer sha11 prompily di�it�:ge any lien whieh ha.�}�Fiority o�er this Security Instrument unless}3orrower:(a) � .
<br /> agrees in Frting to the payment of theooligation secured by tlie Iien in a manner acceptable to Lender;(b)contests in good
<br /> fait4�the lien by,or defends against enforcement of the lien in,legal proceedings which in the Lender s opinion operate to =
<br /> pse�+.ist the enforcement of the lien or forfeiture of any part af the Property;or(c)secures from thE hUlder of the lien an ' '
<br /> a�:eemenE satisfactory to Lender subardinating the lien to this Security Instrument.If Lender detensrir•.es that any part af .. -
<br /> ' the Propectg:is subject to a lien which may attain priority over this Security Instrumcnt, Lender may give&�rrower a _
<br /> notice identifying the lien.Borrower shall satisfy the lien or tnkc:nne or more of the ac[ions set farth above wittst!z 10 days
<br /> , of the giving of notice. i.�
<br /> , S. Hazard lnsurunce. Horrawer shall keep the impro�•ements now eaisting or hereafter erected on the Property �
<br /> , insured against lass by fire,hazards included within the term"e�tcz;du3 a:c.:rage"and any other hazards far which Lcnder
<br /> requires insurance. This insurance shap be maintained in ilie .:.!�c�n:s and for the periods that l.ender reqaires. 7'he i
<br /> ' insurance carrier providing the insurance shall be chosen by 1i:�-rower subject to Lendcr's approva) which sLr�ill not be
<br /> � unreasonably withheld.
<br /> Ap insurance policies And renewats shaU be acceptable ta I.ender and shall include a standard mortgage clause. -
<br /> Lender shall have the right to hold the policies and renewa's.If Lender requires.Borrower shall promptly give ta I.ender
<br /> . all receipts of paid premiums and renewal notices.In the e�c-�;t��f'lass.Borrower shall givP prompt notice to the insurance
<br /> carrier and Lender.I,ender may make proof of loss if not msdep:omptly by Borrower. ..��
<br /> Unless Lcnder and Borrower othcrwise agree in writiae,insurancc procecds shall be s�pplied to restoration or repair •
<br /> of'the Propetty damaged,isthe restoration or repair is economically feasible and Lender's security is nat lessened.IP the
<br /> restaration ar rcpair is not econamicaUy feasible�r Lender's security u�auld be lessened, the insurance proceeds shall be
<br /> applied to the sums se;.rared by this Security Instrument,whether or t�;t r.hen due,with any eacess paid to Borrower. Ef
<br /> Borrower aUandons the Property,ar daes not answet within?�i�:,i�.s�;n�ctice from Lender that thc insurance�:.:rrier haQ�
<br /> oflered to settle a claim,then Lender�say collect the insurancc�roc�eds.L°nder may�s.�the proceeds to repair�:;c:estore
<br /> , the Praperty or to pay s�ms secured by this Seci�itity lnstrvz::r.t,wheth:-r or not then�ae.'Thc 3Q•day period wt)1 begin
<br /> when the notice is given.
<br /> Unless Lender and Darrower othenvise�.�ac��in wrisir;r�ny applicatian of proceeds to prir.::swal shall Rzt extend or
<br /> � postpone thc dur datc of the monthls•payments refferred to ir��a�agraphs 1 and 2 nr change the amount of the{��.;-»ents.If
<br /> under paragraph 19 the Property is�cquired by Yp.^,der.Borr��•,w��r's right to any insurance palicies ard prac_c�aa resulting
<br /> from damage to the Property�rior to the acquisiri�;�shall p�s•a to Lender rv the extent of the sums<r;;,urcd 6y th!s 5ecurity
<br /> lnstrument immedi��tely prior to the acyuisition
<br /> � 6. preservation and:�faintenartce ot PY���ta•rrty:Le�tth+ds. Borrower shall nc�t destrc+y,damuge or�ai-�t�ntially
<br /> change the ProperQy,allow the Pro�e�t�• tr�d�:��siorate ar a.mmit waste. lf thi� 5ecurity Instrument is oa � :easehold,
<br /> 8orrowcr shall rompty with the pro-:�4,�r1�uf thp:ease.and=.!"�orrower acquires fee titic to the Property,the I�asehnld and '--`---
<br /> fee title shall not mcrge unless Q.enderagrees�o cli�::^ierger in�vriting. �
<br /> 7. Protectlon ut l.ender's Rip,hts in tit� PropeHy: MortgaRe lnsurance. IP H�irrnwcr fails ta perform the
<br /> covenanis and ngreements c�ntained in this 5eeurity instrument,or there is a legal proceeding that m<�y Significantiy affect
<br /> �� L:nst=s's righss ist!!se Prc��rty{su€h as a�Srvrccdi»g ir.banS:rupscy. }+r�saic. fc�r condcros�atic�n ar ta cnfc�rcr iaws«r ' .
<br /> regulations).then I,ender may do and p�y f�r whatever is neces5ary lu protect the value of the Yroperty and Lender�rights
<br /> in the Property. Leadet's urtiims may include paying:�ny sums secured by � lien tvhich has pnority over thi�Secur�t}• �
<br /> L lnstrurnent.appear�nK in court,paying reasonable att�rncys'fces and entcring an thc Ymperty to make rcp��ir�. Althaugh �
<br /> Lxn�ier may takc actian undcr this paragraph 7,tender does n��t have to do so.
<br /> Any antounts disbuts�:d by Lcndcr undcr this paragr�ph 7 shall becc�me additusnal ctebt nf H��rnnccr sccurrd by t his ^
<br /> Secunty Instrument.UnleSS Iiruroti�•rr.�nd l.rnder agree to other tetm�c�i'payrnent.the�e.�nu�unt��hall hear mterect f'rnrn �tq�
<br /> the d�le uf disbutsement al thc Nt�te ratc un�1 �hall he payahle. a�th iutetert, upem nnt�ce frrnt 1 rnder t<� I�atm�cer ��
<br /> -"'�' reyucsliug ptEynient. "�'
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