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<br /> � : �. 1Q3364
<br /> ` : � UN�FORM Cov�►A�tTS. Borrower and Lender covenant and agree as follows: . � �
<br /> • � 1. Psya�eot of Pria�ipal�ad Iateres�prep�ymeat aad Iate C6xrges. gorcower shaD promptty pay when due ,
<br /> . _ tfie prinsipai ofa�td iatuesE on the de6t evideaced by the Note and�ny pregayment and late charges due under the Nota �
<br /> � � 2. Fu�fot Tua aed IesursACa Subjtct tQ applicable taa pr to a written waiver by I.enHer:9orrower shall pay. •
<br /> ' . to Lenda on tHc day�onthTy p�yments are due under the Not�.untel the NQie is paid�in fu!!.a s�m(•'�unds")c�qual to
<br /> ':._�. , . one•twelhl�of- {�3 yrarly �xe�at�d a�rnt� wbfth raay attain prioiity over this Security t��strument;fb3 Yearty �
<br /> , ° kaRehold Q�yt�tents or around rtrtts on.3he Property. if any; (c) yrarly hamrd insnrance premiums;�3nd(d) yearty .
<br /> , � mArtBa�ti inst�rt�nce premiun9s.if any.TII�SG lICtI1S liC qlltd•'escrow�tems."Lcnde[may estimatc the Funds duc on the ` �
<br /> ' . , basis ofcurtent dat�Arxl reasbnsble estim:tes of fuwre escraw items. . � � . ' � _
<br /> , . The Funds shall 6e hetd in an iastitutiaq tlte¢eposi;s or Rccaunts of which are insHred or guarantted by a fedeYal or � `
<br /> � . statt agency(jnciuding Lendef if Lender is such an inst'ttutian). Lender shall a�spty the Funds.to pay the escrow items. � �
<br /> � , Lender rr�ay not ch�rge for holding and applying the Funds.analyzisg the accaunt or verifying the esrrow items,�nless
<br /> • ' . Lteder pays 8orcower inter�st oa the Fun(tx and applicabk taw permits�ender to make sucb a charga Borrower and `.
<br /> I:endea may agrec in wripng that interest shall be paid on the�unds. Untess an agreement is made or applicabte taw �
<br /> ' ' requirls interest tv 6e ptid �.eader s1�ll not ix required to gay&�aawu any interest or earnings"on the Funds.Lendu �
<br /> � .� . � . ahtU give to Borrower.witl�out chargr,an unnnal ae.eaunting af the Funds showing credits and debits to she Funds anci the - "
<br /> purpose t'or whicb each debit to tht Funds aas mada?he Funds are ptaigod as additional s�urity for the sums secured by ' �
<br /> : � this Security Instrument. . .
<br /> � If ihe amo4tt►t of the Funds held by Lender,together witb the futute monthty payments of Funds payable prior ta
<br /> ., t6e dne dates af the esecow itexns,shatl excad the amannt reqniral to pay the escrow items when du�thr excess shatI be, '
<br /> at Baaowtr's oprion,either pmmptly repaid to Borrow�er or credited to aorrowes on manthly payments of Funds. If the � '
<br /> ' amount of the Funds held by Lender is not saficient to pay the escroao items whrn due.Botrower sha11 pay ta Lxnder any
<br /> , amount necessary to make up the deficiency in one or more paymen¢s as required by Lender. •
<br /> ; . Upon payment in full of ali sums secured by this Security Instrument, Lender shall promptty re�amd to Bonnwer . �
<br /> any Funds held by Le�der.If under garagraph 19 the Ptoperty is sold or acquired by T,ender.Lender shaU apply,no latcr
<br /> � i , than immediately prios to the sale of the Property or its acquisitiea►�y Lender,any Funds hetd by Lender at the tirrce of �
<br /> . ; applieation as a credit against the sums secured by this Security Instrs�:.�ent.
<br /> ; 3. Applip�tfon olPayments. Unless applicable law p*ot�s othera+ise,all�ayments r�eived by,Lender�rs:�der
<br /> . ! �� paragraphs 1 and Z shall6e applied:6rst,to late charges due under tfie Note;secand,to prepayment char�s due under the
<br /> � � � Not�tl�itd,to asr�ounts payable under paragrapb 2;£ourth,to interest due;and last,to principal due. �
<br /> .`� � Aiar�Liees. Bonawer shall pay aq taxes.assessments,charge�,fines and impositions artn�iuta82e ta the •
<br /> . Property whictn r�ay attain priority,over this Security Instrument, and leasehold payrrients or grous�d rents. i+.":any. ' '
<br /> ; Borrawer sha]}�.�tl�est obligations in the manner provided in paragraph 2,or iinot paid in that manner,Sorrowe=shall �
<br />. . 4 pay them on tim�directly to ihe person awed payment.Barrower shali promptIy fumish to Lender afl nMices of amounts �
<br /> to be paid under this paragraph.If Bonawer makes these payments directly,Barroa+er shall promptiy fumish to Lender '�
<br /> receiptsevidencingthepayments.. • i, �.
<br /> ' ' Barrowe�r�;�11 promptty discharge any lien which has priori!y over this Security Insirument unless Banow�:+ia? +
<br /> , , agrees in writing eca�he payment of the oblrgation secured 6y the liez in a manrter acceptable to Lender,(b)contests ir��u-rad ' ;
<br /> . i faith the lien by,or defends against enforcement of the lien in,legat proceedings which in the Lerider's opinion operate to ��::
<br /> � prevent the cnforcement of the lien ar forfeiture of any gart of the Property;or(c)secures from the ho?de�:of the tien an
<br /> _ ; �greement satisfactory to�.ender subordinating the lien ta this Security Instrument.lf Lender determines ttiat any part af -
<br /> the Proptrty is s�5je�;t to a lien which maq attain priority over E�rs Secarity lnstrument,Lender may give Borraa�ea a �:• �
<br /> notice identifyir.g¢'�e lien.Horrou%er shalt satisfy the lien ar take ar�or more of the actions set forth above within 10 W��s �
<br /> � � of'tht giving of notice. ��'
<br /> � S. Hazard Iasurance. Borrow�r shall keep the improvements naw existing ar hereafter erected on the Property
<br /> �; insured against toss by fite,hazards included within the term••extended coverage"and any�ther hazards far which Lender
<br /> � requires insuranc�. This insurance shall be maintained in th�asrnunts and for the periods that l.ender requires. �'�,e �
<br /> � insuranee carries�roviding the insurance shall be cho.sen by Ao��wer subject ta Lender's approva! which shall ydt�x
<br /> ; unreasonably K�=��teld. , � � �
<br /> ; A11 insuranCe poticies and�renewals shall be acceptable to Lender and shall include a�tandard mortgage claase.
<br /> � Lender shalt ha��e the right to hold the policies and ren�wats.If Lender requires,Barrower shall pramptly give to Ler.�er
<br /> i all receipts of pe�cd premiums and renewa!notices.ln the event of�c�s,Borrower shalt give prompt noiice to the insur:�:::.e '� �
<br /> oarrier and L,er.s�Q,.*.Lender may make proof of loss if not made pra�:.,^�ly by 8orrower. � ?t
<br /> ' Unless Lender and Borrower otherwise agree ia writing,ins•,:;ance proceeds shall be applied to restaration or re�a:r
<br /> ; of the Property a'arnaged,if ihe restoration or repair is econamicalt±,• feasible and L.ender's security is not lessened. lf the �
<br /> � restorAtion or re�air is not economically feasibte nr I,ender"s�secunsy would be lessened, the insuts�nce proceeds shall be -
<br /> . applied to the suma se�tured by this Se�urily.Itlstrument,whether�r not then duc,with any excess paid to Bnrrower. If
<br /> Barrower abandans the Property.or durs rwt answer within 30 days a notice frum Lender that the insurance carrier has �- �"��--"��� � �
<br /> � F offered to settle a cl�im,then Lender may collect the insurance prncecds.Lender may use the proceeds t�repair or restore
<br /> � the Properiy or to pay sums secured by this 5ecurity lnsttument.whether or not then duc.The 30-day period will begin
<br /> • i whtn the noti¢e is given. .
<br />• , Untcss Lender and Borrower oiherwise agree tn writing.any applic:�tion c�Ppr�xeeds to prinripal shall n�t extend or
<br />. � postpone thp due date of the monthly payments referred ta in paragraphs 1 and 2 or rhange the am�unt of thc payments.tf
<br /> • under paragraph 19 the Properry is acquired by Lender.Borrower's right t�any i.nsuranre pvlicies and proceeds resulting
<br /> from damage to the Prvperty prior to the acquisitic�n shal!pass to Lencler ta the extent oPthe sums serured by ti�is Security -
<br /> • , lnstrument immediately pdor ta the acquisition. �
<br /> � , 6. Preservatian and Malntenattce oiProper�y;I.exsehotds. l3urrow�er shall nt�t destray,damage or substantially
<br /> � , change the Property,altow the Property tp deteriorate or commit w�ste. If this Securit�� lnstroment iti nn a leaseh�ld. --- °_-=_
<br /> . $orroiver shall cc+:�ply with fhe provisions oPthe le�se.and if Borrawer acyuires fee title Ia the Yr�pert}.the leasehold and
<br /> ' , Pee title shall nat merge unless l.ender agrees ta the met�e�in writing. ' � ' �
<br /> _ : . 7. I'rote¢tton of�Lendee's RlRhts in the Praperty; M�r[g.age tesurattce.� !f.8c�rrc�t.�er :'sits t�+�scrfc�r�ss the �
<br />. , covenants andagreementisrontained in this Security Instrument,nr there is a le�al pr�ceeding that may signiflrantly afl'rrt �
<br /> LendePs rights i�the Pmperty(such as a proceeding in bankruptcy. pmbate. for condemnatint� or to cnf�ree law�or
<br /> regutatrons),then l,ender may dn and pay for whatever is neressary tc�protert the�alue of the Vroperry and Lencicr's rights �
<br /> in the.Praperry. Lender's aetions may inrlude paying t�ny surt�s secured by a lien�vhich has prinr�tv o�er this 5ecurity
<br /> Instrument.appearing in rnurt.paying reasonable attorneys'fees�nd entering c.n Ihe Pmperty tu make tc�sairs. Althoagh
<br /> � Lender maY take acHan uirder this paragraph 7.t,endtr does nat have todo str.
<br /> . Any atnounts dishurset�by Lender under this paragraph 7 shall become additivii�l cicM ot'N��rn�wer�ecured h} t!'i� r`'
<br /> Secutity tnstntrrr�nt.Ut�fcss 8arrc►wer�nc1 Le�tder a�:tee to at#�er termc cyf p;�yn�er�t.thesc:�ni{�uf�ts Shalt besr intere�t�t�,--n t�!
<br /> . 1he date of disiiursc�ntnt ai 1he I�tc�te ratr auci shat� he pa}'8b1C. �4tiM i11tCiC�i, U�OI1 1TE�iil't flt�t71 LCiI(�t•i' l(� Nc�rr:�:�er r' -�;-
<br /> requesting ppyment. „
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