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<br /> U1vtFOx1K Cov�lvptvTS. Bosrower and`Lendercavenant and agree asfolloKS: � �
<br /> . - i. P�ye�eet of Pri�iea Ist�rss��repaymi�nt ui�Late Ch�ges. t3onower shali promptly pay when due -
<br /> � _ thr prencipal of arsd enterat on the debt evidasced.b}che Note and ang prepayment�nd late charges due under che Note.
<br /> 2. Funds[or Tazes and Iaturanc� Subject to applicable law or to a w ritten waivet by Lertder.Borrower shall pay � ,
<br /> to Lender on the day monthty pay.mez►ts are dae under the Note,untif the Note is paid in fuU,a sum("Funds')equal t� �
<br /> � ane•twelfth.af (a) }early taxes and �ssessments which may attain prinrity over this Security Instrument; (b) yearly
<br /> l�ho2d gayments or ground renu on the I'mgerty, if a�y; t�) y�1y hazard insurance premiums; and (d� yearly
<br /> martgage insurance premiwns.if any.'fl�ese items are called"escrow items."Lender may estemate the Fuads due on the �
<br /> 6asis af current data aad reawnable estimates of future escrow iterns.
<br /> T6e Fuads shaA be hdd in en insritution the deposi*s ar accounts of which are insured or guaranteed 6y a federal or
<br /> state agency(intluding I ender if Lender is sueb an institution).Lender shall appty the Funds to pay the escrow items.
<br /> . , Lettder may not chargt for holding and.a.pplying the Ftmdc,aaaiyzing the account or verifying the escrow items,unless '
<br /> Lendar pays 8orr+ower inierest on the Funds and appticable!aw permits Lender to make sucl�a charge.Bonower and
<br /> � I.endtr may agce in wtiting that interest shall be paid on the Fands. Untess an agreeznent is made or applicable law
<br /> _ , requires int�esi to be paid,Lender shall not be required to pay Borrower any interest or earnings on the Fnnds. Lender
<br /> sha�give to Borrower.without charge,an annua!accounting of the Funds showing credits and debits to the Fursds and the ` ,
<br /> , purpose for which each detiit to the Funds aas made.The Funds are pledged as additional security for the sums se�vred by . '
<br /> � . this Secwity Instrument. .
<br /> , � If the amaunt of the Funds held by Ixnder,together witB the future cnonthly payments of Fonds payable prior to
<br /> . � the due dates of the Sscrow items,shall eaceed the amount required to pay the escrow items when due,the eacess shall be, � �
<br /> at Borrower's option.either promptiy repaid to Horrower or creditec�to Borrower on monthly payrnents of Funds.If the,__ ___ ___ _ � •.
<br /> ` � amaunt of the Funds�eld hy Lender is not sufficient to pay the esc�w items when due�Borrower shal)pay to Lender any - �
<br /> . amount necessary to make up the defrciertcy in one or more payare,�t�as required by Lender. • '
<br /> Upon payment in t'ull of all sums secund b}this Secur:"*_�y�.�"r��trument,Lender shall psompily refund to Barrower • `
<br /> , aaG�nds held by Lender. If under paragraph 19 the Froperty i�-'s^td or acquired by Lender,Lender shnll apply.no later
<br /> than immediately prior to the sale of the Prbperty or its acquisiti.�r�by Lender.any Funds held by Lc��er at the time of .
<br /> application as a credit against the sums seeured by this Secarity Ins�rument. � � • t
<br /> � 3. Appflcation af Ps�yments. Ca�less applicabie law p*ofides otherwise.all payiizc�u received by Lender under-
<br />, � � paragaphs 1 and 2 shall be applied:first,to late charges due under the Note:second.to prepayment charges due undBr the .
<br /> Not�third,toamounts payable under paragraph�;fourth,to interest i1ue;and last,to principal du� ' �
<br /> 4. C�arges;Llens. �onower shall pay aU taxes,a.s.sessments,chatges.6nes and impasitions attributable to the
<br /> � Property which may attain priority.over this Security Instrume�zt..and leasehold payments or graund rents;i£sny.
<br /> Bonower shal!�ay tbese obligations in the manner provided in g�.M.;�raph 2.or it'no;.pai�:� that manner,Borrowet s��11 � � '
<br /> pay'ttiem on timt direcdy ta the persan�A•ed payment.Borrower si�all promptly#'nrnish ta�enQer all notices of art`tounts •
<br /> . ta C:��_aid under this paragea�Ti.If Borrawer make�che�e payments directly.Basrower shall p'romptly�firF-'iish to I.ender
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<br /> , , ro^�sevidencing the payr��y: . � ' � , .-�<,
<br /> � ` Borrower shal!promptiy`dischar�eany lien which has priority over this 5ecnrity Instrument unless Borrawer:(a) ! `�
<br /> agrees iu writing to the payment of the es'.':�gation secured by the lien in a manner acceptable to Lender;(b)contests in good �
<br /> , faith the lien by,ar defends against enforcement of the lien in,legal proceedings which in the Lender's opinion'opeTate to ,
<br /> prevent the enforcement of the tien or forfeiture uf any part of the Property:or(c)secures f'rom the holder of the lien an =
<br /> agreement satisfactary to Lender subordinating the lien ta this Security lnstrument.If'Lender determines that any part of �:,-:i�
<br /> � the Property is subject to a lien which may attain priority over this Security Instrusnent, I.ender may give Barrower a ;��_�;
<br /> notice identifying the lien.Horrower shall satisfy the iien or take one ar more of the actions set forth above within id days --
<br /> of t6e giving of noiice. '• � . ; '�:�
<br /> S. Nazard Insttrance. Barrower sha11 keep t�e improvc�rcents now existing or hereaf'ter erected on the Property —
<br /> i�.�cd against toss by fire,h.�yards included within tti�t:rm"eaterded cover��:'and any ather hazar�:s�e r which Ixnder • ,
<br /> ' , rec,�W;.-es insurgnce. 7'his insLrance shall be maintained in the a��unts and:a: the peric�ds that�.e;,det requires. The � �
<br /> insurance carrier �+roviding the insurance shal!be chasen hy Ba**cu+er subject to Lend�=��y�praval whicb shall not be =
<br /> . �� unreasonably w�s:1?�etd. . � � ,
<br /> All insurance paficies and renewals shall be acceptabJe ta Lender and shall inci;:�:,'e a standard morigage clause. �'��
<br /> Lender shall have the right ta hold the policies and renewals.If Lcndcr requites,Borrower shall promptly give to Lender `'�.�
<br /> all receipts of'paid premiu�s'and renewal natices.ln the event af'loss.Borroa�:r shall give prompt notice to ihe insurance • '
<br /> carrie�and Ler.��r.L.ender may make proaSoP toss if not made promptly by Satrower. � � � ;�.'��
<br /> Unless 1,,��er and Horrawer otherwise agree in writing,ifslrance proceeds shal!I�e.�:Yplied ta restoration ar repair ' :
<br /> of th:Property damaged,:Et?�q restoration or repair�s econnmically feasible znd Lender's security is not les.tened. lf the
<br /> resr.�ac�2ion ar repair is nc�e:��omicaliy feasible or L.�7der's security wautd(z:ir�,sened,the insurance prceeeds shall�e ,
<br /> appl:ed ta the sums securec3 L,-y'this Security Instru:..ent,whether or no!the2.:�:�.with any excess paid to$orrower. lf .
<br /> Borrower�bandons the Praperty.dr dces not answer within 30 days a notice Crom l,er:der�?:at the insurance rarrier has �
<br /> . offered to settle a claim.theq Lender m�� �s�llect the insurance Fsas�ds.Lender may use cixi:.�roceeds to repair or rest.rre
<br /> ' ' the Propetty�r ta pay sums secured 6y�c�?is Seruri:p� lnstfument,+�hethcr or Rr.t then�::�.'The 34day petiod�vill begin .
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<br /> Unless Lender:,nd C��rrower ntherwise agree r�c.w riting,uny�pplicatian�:�prciceeds to principal shall not extend ar .
<br /> postpone the due date of thrmcmthfy payments referred to in paragraphs i aad.'.or change the amount nf the payments.If •
<br /> under paragrapi:�9 the Property is acquired by Lender.Horrower s right to a�y insurance polieies and proceedq resulting
<br /> from damage to the Property prior to the acquisition shall pass to Lender to the extent af the sums secured by thic Security '
<br /> lnstrument immediately prior to the acquisition. .
<br /> 6. Preservation and`laintrnan¢e ntProperty.;Leasehotds. Borrower tihall nat destray,damage or substantialty
<br /> change the Property.aliow the Prnperty ta deteri�rate ur commit waste. If this Serurity Instrumcnt is nn a teasehnid,
<br /> . Barrawer shall mmply with the pmvisions of the lease.and if 8orrower acquires fee title to the Property,the leasehold and �` -° `
<br />: fee title shali nnt merge unless Lender agrees to the merger in writing. ' �
<br /> 7. Protection ot I.ender's Rt{�hts in the Property; ?�tort{tage Insurence. iP Harrower fails t� perfi�rm Ihe �
<br /> Cavenants rand agreemems conta�ned in fhis Secur�ty Instrument.'or there is a ie�i pruceeciing th:�t may sigmlicanily afTect �. •
<br /> l.ender'c rights in the Property (snch ps a pr�+eeedir.g in bankruptcy,pmbate. far cundemnatiem ar ta enf��rce law���� ;
<br /> .. . . F�FlI�lNOF18T�then l.end�may do aud pag fc�r whatever i�uecessacy ta pratesi the Va2ue aFlhe Prr�en}�ssnc!Lee�der's r�ghts `
<br /> in the Proprrly. Lender's actions may inctude p�aying any sums.secured hy a lien whuh ha�pn<mty u�cr fhis Serunty �
<br /> L Insirument.s�ppcanng in cnurt,paying reasonable att�rttey.c fecs and enterin�t��n Ihe Pn+pert}•t��m�ke rcpau�- Althn�gh �
<br /> Lertder m3y take:�rl�on under this paragraph 7.I.ruder dues nat�have tn du sv. . �
<br />. • ' Ahy vme�unts d�abursed hy Lender under this paragr:�ph'?.�bali hecc�mr a�fet�ti�m:�l drht uf Nurrex.e��ecurr�i hy thi� �
<br /> Secunty insfrwnca�t IUnlesv&�rrow•et and I.cnclet a�tce t�f�ther tetniti t�f'p;�r mcne.the�c.����t.unt�sl�;+ll hc.�r i�titcrctit frnm t,p
<br /> . .ihe.dnte c�f dwburrenrent at the 'Vnte rate:md th�i) hr r:�p:�hfr,a�th mtcre�t, »p�m nntrcc frnrn Lrn�trr n. Hrtn�«t•r ��
<br /> tcyutsltnKpa�tnent " ,; � ,;' '�''
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