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<br /> � UNIFORM CdVEWANTS.8orrawer and Lender covenant and agree as toltows: , �
<br /> !. PanneetolPrineipatsndt�terosl;PrepaymentandLateCharges. 8or�awershatlpromptlypaywhenduethe
<br /> principal oi and i�terest on the debi svidenced by tlse Note and any prepayment and iate charges due urtder the Noie. .
<br /> z ' 2 FundsforTauesandtnaurane� Subjecttaappiicabteiswortoaw►ittenwaiverbyLender.8onawershattpay , •
<br /> � � to Lender on the day manthty payments are due under the Note,untit the Nate is paid in fuil,a sum l"Funds")equal to .
<br /> on6-twelfth of:(a) yea►ly taxes and assessments which may attain p�iority over this Secunty Instrument: (bj�earty <
<br /> teasehotd payments or grourtd rents on the Property, if any, (c)yearty hazard insurartce premiums and (d�yearty �
<br /> , � mortgage insurance premiums,if any_These items are catted"sscrow items".Lender may estimate the Funds due on the
<br /> besis of Current data aRd teasonabte estimates ot fulure escrow items. �
<br /> Tt►s Fundsshatl behetd in an institution the deposits or accounts of which are insured or guarantead by afederal or
<br /> state agenCy(ir�Clu�ding lender if Lender is such an institution).Lender shati ap�,ty the Funds to pay ihe escro�±+e items. • `"
<br />. Lender may not C`:arge for holdiRg and apptying the Furtds,anatyzirtg the accou�i or verifyissg the escrow items,unless ,
<br /> ' Lender pays Borrawer interest o�the Funds and applicabte law pe�mits Lender to make suCh a charg�.Borrower and ,
<br /> ' , _ Lender may ag�ee in wr:*��that interest shatl be paid on the Funds.Unless an agreement is_made ovapplicable taw _ . _
<br /> ' r�quires interest to be��.:�;_�ender shal!rtot be required to pay Eorrower any interest or earnings on the Funds.Lender � `
<br /> � shall.givetQBorrower,K�Y-�tstcharge.an�nnualaccoe,ntingofu;eFundsshowingcreditsanddebitstotbeFundsandthe
<br /> . - purpose fci•wh;ab eacti;�:�±satdeFunds was made_The Furt�are pledged as add;tionat seaurity far ihe sums secured • , , '. _.. _
<br /> , by the SeCUrity Instrurr.��.i_'' , • . . ' � .
<br /> Iftheamountotthe'Fundsh�ldbyLender.tc�r.�erwiththefuturemonthtypaymentsof�undsF�yabtepriortothe �
<br /> due dates af ths escrOw items,shall exce�d lhe amount requi�edto pay the escrow items wt-�^Qae,tFte excess shatl be,at ••
<br /> Borrower's o�n�n..�either promptly n��,_:3 to Borrower or credited to Borrower an mor�c^.ry paynients ot Fun�a.e�ihe _
<br /> � amquntofthel=���"she!d��yLendez��-,;`sufficienttopaytheescrowitemswhendue.BerrCvdershallpaytoLen�c�a�iy • ,
<br /> � arrtount nesessa:�r t��^y�ce:;r the'�.`•?v!ency in one or more payments as required by Lender. � . � � -
<br /> ' � Upon paymeirt i�5,,,::�sa�3 s::�s s?�cured bythis Security Instrument.Lender sEalt promptly�efund to 8orrowe►�,��
<br /> Furtds hetd by Lertder.If urider paray'crh 19 the Property is sold or acquired by Lender,Lender shall apply,no,latettfitan � � �
<br /> ' immediatety R:�ar Eo tpe sate ot the Qsoperty or its acquisition by LendeF, any Funds hetd by Lender at the time of •
<br /> application as a,tredit agamst the sums secured by this Security.lnstrument. �� � � ,
<br />'� 3. Appticatian o!Paynfents. tlnless applicable law provides otherwise,a11 payments received by Lender under �.
<br /> paragraphs t and 2 shalt��apptied:tirs�to late charges due under the Note:second,to prepayment charges due u�der ' � °
<br /> . the Note:thir��to amounts payable un�e:;:aragraph 2:tourth,to interest dus:and last,to principal due.
<br /> 4. �es;Liens. BorrovrE.r sSa�F pay all taxes,assessments,charges.fines and impositians attributable to the - ..
<br /> Property wh•-:�.�?`rnay attain priarity �v�:this Security InstrumeM, and leasehotd payments or ground,re�ts, i'c a�y. . '.
<br /> Borrower shali pay these oblig8tians in ttie manner provided in p�ragraph 2,or ii not paid in that manner.BorrowersE�aU � '�
<br /> pay them on time directly to the person owed payment.Borrower shall promptty turnish to Lender all notices of amounts to
<br /> be paid under this paragrapli. If 8orrower makes these payments di�ectty. Borrower shatl promptly fu►nish to Lender i".�
<br /> � receipts evidencing the payments '
<br /> � Borrower shall promptly discharge any lien wh�ch has priority over this 3ecurity Instrumenl unless Borrower:(a) .
<br /> . agrees irt writing to the paymeM oi the obligation secured by the lien in a manner acceptabte to Lender.(b)contests in ,. �%.
<br /> good faith the lien by,or defends against enforcement ot the I�en�n,legal proceedings which in the Lender's opinfon ± i
<br /> operate to prevent theenfo�cement oi the lien or forteiture of any part ot the Property:or(c)secur�s trdm the het�sr ot the
<br /> tien an agreeme�t satisfactory to Lendersubordinating the lien to this Security Instrument.If Lender determine�tlat any i'�
<br /> pa�t of the P�operty is subject to a lien which may atta�n prionty over this Security InstrumeM,Le�der may give 8cr�•�.�era ,
<br /> notiCe identifying the lien.Borrower shall satisfy t�e lien or take one or more ot the aCtions set fOrth above within td 1��s ot
<br /> , the giving of notice. . �
<br /> S. Hazsrd tntunnce. Borrower shall keep the�mprovements now existing or hereafter erected on ihe Property i
<br /> insured against loss by fire, hazarCs included within the term"extended coverage"and any other hazards for whiCh � ,.
<br /> Lender reqnires insurance.This ms::°ance shall be maintained in the amounts and fer cr��periods that Lender reQ�ires. � "
<br /> The insurance Carrie�praviding the msurance shall be chosen by 8orrower subject to Le:��er'sapproval which shait r,Ct be
<br /> � ueereasonabty withhetd. • '°—`��'
<br /> All insurance polic�es and renewals shall be acceptable to Lender and shall include a standard mo�tgage clause. `:;�+
<br /> �r;�de►s�2:1 t�avethe right to hotd the policies and renewels.H Lender requires.Borrower shall promptly give to Lende�all �
<br /> j reCe�pts af��ra premwms and renewal notices.In the event o1 loss.Borrower shall give prompt notice to the ins��ance � �
<br /> ' earrier and:�nder. Lender may make proof oi loss if not made promptly by Borrowe�. �
<br /> ' Unless Lender and dorrower otherwise agree in writing.�nsuranco proceeds shatl be applied to restoration or repair
<br /> ; atthe Property damaged,it the iestoration or repair is economically feasibte and Lender s security is no!lessened.If ihe �
<br /> � restoration or repair is not economicatly}easibte or Lender's secunty wou►d be tessened,the insurartc�rsroeeeds shalt be
<br /> .... .. _. -- -...... ._._..-----------�- � -�--� ----�-----�- -- - ------—
<br /> applied to the sums secured by th�s SeCUiity Inslrument,uvhethe�or nol�then 6ue,wili►any-excess�pa�A ta Borrowei:fl- �� � � � -�- � � -
<br /> Sorrower�bandons the Proper,: cr does not answer yvithm 30 days a notice from Lt�nQer that the insurance c2+rf�nr t�as
<br /> � aftered tosettleaclaim,ihen Ler.C•_��^a�colteCtthe msuranCe proCeeds.Lender may use fhe proceeds to repair c r restore � �
<br /> t�e Property or to pay sums secur���i:.".�s Secunty Instrument,whether or not then due.The 30-C�!period w:u begin � , ,
<br /> �tihen the notiCe is given. � ,
<br /> Untess Le�der and 8orrower c��zrwise agree�n writ�ng,any apphcat�on ot proceeds to prine�pal shall not ex!end or
<br /> postpone the duedate o}the monthly payments reterr�d to in paragraphs 1 and 2 or change the amount oi the payments.N •'"
<br /> � under paragraph t9 the Property is acqu�red by Lender.Borrower's right to any insurance policies and proceeds resuHing
<br /> � trom damage to trie Prnperty pr�or to theacquisition shatl pass to Lender to the extent o1 the sums secured by this Security _ _
<br /> Inst►ument�mmediatety pnor to the acquis�fion. • i
<br /> • 6. Preservstlon ana Msintenance of PropeAy:Leasehold�. 8or�owe►sha11 not destroy,or damage o►substan-
<br /> . tiaHy change the Property,aROw fhe Rrpperfy tvdQteriorate or commit waste If this Secur�ty Instrument is on a teasehald. -r '
<br /> Borrou+rar shall comply with the provisions o1 the lease.and it 8orrowe►acywres iee t�tt�to the Praperty,the Ieasehd►d and �,
<br /> . !qe ulte sha!!noL merge untess lender agrees to ihe merger:e wr�t�ng. _ � _
<br /> 7. ProteeHanofLtndet'sRightsintheProperly:Mortgagelnsuranee. Ir9orrowerf;i�tstoperlormthecovenants �
<br /> ' andagreementscontainedinth�s5ecunfylnstrument.orthereisaleg�lproceedmgthatmays�gn�}icantlyafiectlender's ' ��
<br /> L nghts m the Property�such as a procvedmg in bankruptcy.probate.tor condemnatian ar to�nforce laws or r�gul;�tions►, ,
<br /> then L�rtder may da and p�y tor whatever�s necessary to pratect the vatua�t the f'rope�rty and Lender`s rrghis in the
<br /> Pruperty Lender's actinns may mcludo paymg any sums socurt;d by a hcn wh�ch has pr�or�ty �vr,r Ih�s Secunty h.
<br /> Inslrument,appearmg�ncot,rt.pay�ngreasonablaattomeys'feasandente►�rrganthet'ro{��ertytonlake•�pa�r.s klthot�gh ��
<br /> Londer may Iak�t acban undar IMS paragr�ph 7,LEr�d�t dves r�ot h,�ve to dv so
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