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<br /> , . • EINIFORM CO�F.lit!►N7S. $oROwe�and L�ndtrcuvenmf and agreeas follows:9o�� ` - ``
<br /> • � � 1.•PEy�t ot�pt1 a�d Lteiestt Pre�ymeet�ed Ltt Charges. Borrower st�all promptly pay when due .
<br /> . , tlte principal of and mterest an the debi evidrnced by the Note and any prepayment aad Iatc charges due under the Nate.. '
<br /> � , � F�adt.for Tues�sd Uswa�ca, Sabje�t to applicable law or to a written waiver bj�t.ender,Borrowershall pay �
<br /> ' _ . tu Laider on the day mfluthly gsj�mcnis are dur undtr the Note,until ehe Note is paid in fuU,a sutii("•Funds")equat to
<br /> u
<br /> � . - • aiatMel�th�of: (a) Yearh► tues and assessmrnts wHich may �ttain priority��aver �his Security lnscrument; {b}y�ariy .
<br /> �-� kasetwi� psytnents t�r groun�d�rent� on the . if an • (c p y . _
<br /> i' �aP�Y Y� ) 9�1y haz�rd insuraace remiums;and {d) yearl � � � �
<br /> : • t�ortpge,'in�irnncx preauums�if any.Thesz items ate callat'•escrow items:'•Lender may estimate�the Funds due on the
<br /> �� [�sis,ofc�iment�ata a�d reasonable estimates oFfuture escrow itqms. ' • •� .
<br /> � � � , Tbe Funds sl�aU be�etd ia an institution the deposits or accouuts of which are insured ar guarameed bv a federa�or �
<br /> . ; state aaetrcy{inctudi»g Lendet if I,�ndet is such an jnstitution).Lender shall apply the Fuads�ta pay the escrow items. ` �
<br /> j �.eadet may not ciiarge fi►r hatding gnd apptying the Funds,analyzing the account.or verifying the escma,items.u»less
<br /> � i�txlv p�ys Borroarer interat an the Funds and appli�able taw permits Lender to make such a charga Borrower and �
<br /> �- Lmdsr raay agrae in writing that inierest shail be paid an the Funds. Unless an agreement is�made o;appliaable!aw
<br /> � requires interest to be piid,Lender�shall not be roqnirad to pay Bornower any interest or earnirtgs on the Funds,Lender ,
<br /> 'sbatl give to Borrower,�vithout charge.an annua!accannting of the FuirrdS showing credits and debiu to the Funds and.the
<br /> : � purpos�r for which esch debit to the Funds was made.The Fvnds are�p2edgtd as addirional seeurity for the sums secured hy
<br /> � i • tBisSecnrity Instrnment. � - „ . ,t..
<br /> ; If the amount of the Funds hetd by I.eFtde.r,tqgether with the future monthly payments of Funds payabte prior fo � ' �
<br /> � t1te due dstes of the esero�i►items,shaU ea�ceed the amount required to pay the escrow items when cl�.the txcess shall be, �
<br /> � � it Horrower's option,either promptly repaid to B�rrawer or credited to�S<f,�ower ora monihl a�,..,"ts of Fund,c.If the � � � �,
<br /> amount,of the Funds held by Lender is not sufhaent to.pag the c�crow items when doe,Bonowepr s��pay ta Lender any
<br /> ; amount neeess,tiry to maice ap the defici�ency in oae ar more payments as.required by Lender. �
<br /> �; ` Upon payinent in ful)of all sums seeured by this Security Instrt�rnent,Lender shall pramptty refimd to�i�ower �
<br /> � . � . a�y Funds held by Lender. If under paragraph 19 the Property is satd or acquired by Lender,I,ender shall appi�;zo tater �� � � �
<br /> � thaa itnmediately p�ior to ihe sate of the Propercy,:�r its acquisition by.I.ender,any Funds held by Lettder at the time of
<br /> , { application as a credit against the sums secured by.s£i�s Security Instrument: , .
<br /> 3. Applic�ttoo of Paymenb. Unless app�icable taw��vides otherwise,all payments received by Lerz�er ureder � '
<br /> ? paragraphs 1 and 2 sh�ll be applied:first,to tate cha=ges due°��s the Note:second:to Frepayment charges due under the '
<br /> . ! Natr,ihird,w amoants payable under garagraph 2;faurtti,to ir;�rest due;and last,to gr�acipai due. �
<br /> ' � 4• Cbarge�Liens. Borrower shall pay alI taaes,asscssments.charges,fines an;d impositicz�s attributable to Ehe
<br /> Property which may attain priority_over this Security �nstrument, and Ieasehold fi�rs�,��s cr�,ground rents, if any. � � • �
<br /> � Borrower shall pay these obligations in the manner provided in paragraph 2,ar if not�aid in that manner,Borrower sha11
<br /> ` pay them on time dirertly to the person�wed paymen�Horrower shall promptly furnis�s to�Lender ali notices of amovnts
<br /> ! to be paid under tAis paragrapli.IS gurruw,er makes these payments,directly,Banower shal!promptly furnish to Lender :
<br /> � receipts evidencing the payments.
<br /> j Borrower shal!promptly discharge any lien which has priority over this 5ecurity Instrument unless Borrower:(a) ! `i
<br /> .. ( agrees in writing to the payment of the obligatian secured b y the lien in a manner accep t a b le to L en der.(b)cantesis in good i _�
<br /> j faith the lien by,or defsnds against enforcement of the lien in,legal proceedings which in the I.ender's opinion operate to
<br /> � prevent the enfarcemea�t of the lien or forfeiture of any part of the Property;or(c)securcw from the holder of the lien an -
<br /> ,+ ageement satisfactory to Lender subordinating the lien to this Security lnstrument.If Lender determines that any part of • , _-
<br /> t the Property is subject ta a lien which may attain priority over this Security Instrument,Lender may give Borrower a
<br /> � notice idcntifying the lien.8orrowe"r sha}1 satisfy the lien or take ane or more af the actions set fonh above within 10 days �' '
<br /> i of the giving of notice. � —
<br /> i , S. Huud Insuranee. �o,rr,��er shall keep the improvements now eaisting or hereaftcr erected on the Propeny
<br /> � insured against loss by fire,hazards included within the term"extended coverage"and any other trazardc for which Lender
<br /> � requires insurance.This insurance shall be maia•,.3iaed in the amou�ts and for the periads that Lender requires. The
<br /> r insurance carrier providing the insurance shafS!��:chosen by Borrower subject to Lender's approval which shall noi be �
<br /> � unreasonably withheld.
<br /> � All insnrance polieies and renewals 9ha11 be aceeptable to Lerader and shall include a standard mongage clause.
<br /> Lendcr shail have the right to hold the poticies and renewals.lflxndcr requires,Borrower shall promptly give to Lender
<br /> : all receipts of paid premiums and renewal notices.ln the event of,tass.Borrower shall give prompi notice to the insurance •,
<br /> � carrier and Lender.l.ender may make proof of loss if noi made pramptly by Borrower. • i�.�.
<br /> Uniess Lender and Borrower otherwise agree in writing,insurance pioceeds shali,be applied to restoratian or repair
<br /> ; of the Propes�ty damaged,if the restoration or repair is economicalty feasible and Lender's security is nc�t lessened.If the �
<br /> ; � restoration ar repair is not economically feasible or Lender's secudty wauld be lessened, the insuranre proceeds shall be
<br /> i , applied to the sums secured by this Security lnst�ument,whether or n�t then due, with any excess paid to Bnrrower. If
<br /> � Ba�rrower abandons the Pro�eny,or dces not answ•�r within 30.days a notice from Lender that the ir�su�aace carrier has-- -�-� --�--��--
<br /> i otfered to settle a claim,then Lender may collect the insurance proceeds.l,ender may use the proceeds to repair or restore
<br /> ; the Propeny or to pay sums secured by ahis 5ecurity instrument,whethcr or not then due.'The 30.day period w�tl be�in
<br /> when the notice is given. �
<br />. ; Unless Lender and Borrower othenvise agree in w.riting,any application of'proc;eeds to principal shall not extettd or
<br /> postpone ihe due date of thr monthig�payments rePerred to in p�aragraphs 1 and 2 or change the amount of the payments. lf
<br /> � under paragraph 19 the Property is a�uired by Lender,Borrower'�right w any insurence policies nnd proceeds r�.ultin�
<br /> � from damage tfl the Property prior tc�tFr acquisition shall pass to I.ender to the eMtent of the sums secured by this��urity
<br /> , i ' Instrument immediateJy�rior to the a�pisition. �
<br /> j . 6. Preservation aad Malnteaance ot Property;Leaseholds. Borrower shall not destroy.dw:�•�,,e or substaniially
<br /> ; � change the property.allow the Property to dete�:crate or commit waste. Ii'this 5ecurity Instrumer.t is on a Ieasehold.
<br /> � Borrower shaU comp_ly with ti�e prov�isiv7s of the lease,and if Borrower acyuires fee titt�e�.:i?�r Property,the leasehold and � �
<br /> . fa titte shall not merge unless Lender a�,-ees ta the merger in writing. �
<br /> 7. Prbtection of I.ender's R�its in the Property; l�tortgage lnsurance. 4�33c�rrower fails tu perform�the I
<br /> -- E eas�:s;�t�a:�ag�eeme►itseu��fainecF intiiisSeeuf'�-�hstrumenf.oi there is a Iegal proceeiling that may siguificantly affect �
<br /> � ' Lender's ccghts in the Property(such as a proceeding in banktuptcy, prubate. far ror.demnatian c�r't��enfarce laws nr ' '
<br /> �; regulations).then Lender may doand pay for whatever is npcessary to protect the value c.`the i'raperry and Lcnder's cights
<br /> in the Frope�3y. Lender's actians tnay include paying any sums cecured by a lien which h�s priority ovrr this Securiry
<br /> Instrument,appearing in court,paying reasonable attorneys'Pees and enterin�nn the Prnperty t��make rep�irs.Althau�h
<br /> � Lendcr maytake actian under this paragr:�ph 7,Lender does ndt have to dn so.
<br /> ' Any amounts disbursed by tender under this paragraph 7 shall becomc additiuna)dcbt ot'Barrowcr secared 5y�h'is �
<br /> Security Instrument.Unless Borrower and Lendet agree toot#ier tetmc c�f payment,tl�r�+r amaunts shall be�ar imerest from �
<br /> � !he date oF disbnss�mcnE �� the IVote rate�n�l shall tie pa}rable, ��ith interest. upon n�►4ice frc�m �.endc�r to 13orrower �
<br /> requesting payment. � . � '
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