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<br /> ` UNit�t�t�ovEtv�►M5. Bur�ra�rerandLendercoven�niandagreeasfoltows: " . , . ,�
<br /> � i• ����M����'�MX�t ui L�t�(.7�. Borrowes slia{I promptiy P�sY r�'hen due
<br /> � , - tlie principal of.aad intecest on tl�e debt evidencal by the Note and any prtpayment apo late charges due under the Nots. .
<br /> . , � _ � 2.• Fui�tue�'ues�Ir�oice. Sabject W applicab2e!aw orto a writtan waiver by Ltndar,�pn+ower shall pay
<br /> ,_ to Laider on the day mantbly payments are due undu the Not�unt�the Note is paid in full.a sum("Funds"j oqual to - , _ -
<br /> � onat�relfth of- (a)yeuly'tsses and a�tes�meats which�ay attain priority oYer this Security Instrumcnc; (bl Y�tY . � '- ;
<br /> Iea�ehoW payments ar gmund rents ua the Prop�rtY. if any; (c) Yeu1Y �asard iasurana premiums; and id) Y��Y
<br /> mart�e�s�uinet�reauums�if ai�y.Thes�iteuis are callod°escra�v items."Lender may estimate the Fur�ds due on the ,
<br /> , � , b�sis ofaarreat dsa snd xt�sapahk e�titm�tes of future escroa items.
<br /> _ . The FwWs shall be hel�l in an institatiop�tlie depusits or accounts of which arc insured or guar8nteed by a federal ar � �
<br /> , stste a�rSCY Cuule�dint Lei�der if Lrnder is such an institnrion).Lenda shsll fipply thr Funds to pay th�cscmw items. ,
<br /> , �,endtr may aot ci�arEe for hotding and.�pplying`the Fuads,ataaiyzimg the account or verifyiag the escroar items,anless , � ,
<br /> I.eoder paya Barro�va interat on the Funds aad appli�bh law permits Lender ta malce sucb a charga Borrovver and .
<br /> I,eader msy asree in vvriting that interest sl�all be paid on the Funds.,Unless an agrsemmt is made or applicable law `
<br /> � requires interest ta bt pud,Leader shall npt be required to pay Borrower any interest or earnEngs on the Funds.Len�ier � � .
<br /> _ sball giva w Borroi�e,�,without eharge,an annual accouating of tlie Funds showing crodits and debits to the Funds and the � ,
<br /> . , - purpose for wiuch each de6it to the Funds was mada Tfie Fonds are pledged as additional security for thc sums secured by `
<br /> � thia Security Instrumen� - . �
<br /> , � . If the amount of the Funds held by Lender.together with the future moathly payments of Funds payable prior to
<br /> � the dne dates of!ht esccow items,sball excad tbe aaiount requ�red tp pay the escrow items when due,the eac�ess s�+all� �
<br /> at.8arro�ver's aption,either promptly repaid ta Borroaer or cr`edited to Borrower on monthly payments of F�urds.if the �
<br /> � �mo�nt of ffie Funds l�ld by Leader is not suf�icient to pay the escrow items whcn due,Borrower shall pay to Lender any
<br /> • unount neoe�ary to malce npthe de6ciency in one or more payments as roquired by Lender. �
<br /> Upon psyment in fult of all sums securcd by this Socurity Instrument,Lender shall promptly refund to Bonower � �
<br /> . any Furtds hdd by Lender.If under paragraph 14 tbe Property is sold or acquired by Lertder,Lcnder shall apply,no fater ,
<br /> ' than immediately prior ta the.sale of the Proptrty or its acquisition by Lender,any Funds hetd by Lender at the time of � .
<br /> , � � appllearion as a credit against the sams securetl by.this Security Instrurae�t. � . •
<br /> .. � 3. Ap�lieatba ot Payseats. LTnless applicable law provides otherwise,all payments received�by I.ender under ,
<br /> . puagraphs 1 and 2 sl�ll be applied first,to latt charges due under tDe Note;secoad,to prepayment charges due under the
<br /> Not�third,w amounts payabie under pardgraph 2;fourth�to interest du�and last,to principal due.
<br /> 4. Cia�e�Liets. Horcower shall pay all taxes,�assessmenis.charges,6nes aad impc�itions ami6utabFe to the � .
<br /> Property v�hich rpay attain priorit�r,over this Securiry Instrument, and leasehold �cmcnts or ground rent� af any. � ,
<br /> Borrawer shall pay these obligarions��a the manner provid�iaE paragraph 2,or if not paid in that manner.Borra�er shaU , ;
<br /> ' � �- pay them ot►time diroctly to the person owod payment.Horrower shall promptly furnish to Lender all notices of�mounts , .
<br /> to be paid under this paragraph.If Bonower maT�s these payments directly,Borrower shall pro�rss+ily furnish to.Lender
<br /> �receipts evidencing the payments. � �, .
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrnment unless Burrower:(a) � �
<br /> . agras in ariting to the payment of the obligation secured by the lien in a manner acceptabte to Lender;{6)contests in good i
<br /> � faith the lien by,or defends agairtsq e�forcement af the lien in,legal.proceedings which in the Lender's opinion operate to �
<br /> prevent the enforcement of the lien or forfeiture ef any part of the Property;or(c)secures from the halder di the lien an
<br /> agrusnent satisfactory to Lender subordinating the.lien to this Security lnstrument.If L.ender determines that any part os •
<br /> the Property is subject to a lien whicis may attain priority over this Security Instrument, Lender may give Borrower a -
<br /> ` notice identsfying the lien.Borrower�tialt satisfy the titn or taice one or mare of the actions set forth above within iQ days �� �
<br /> ( �` of the giving of notia. ` �
<br /> ; � S Hazard lnsuneee. Borrower shall keep the improvements ttow existing or hereafter ecected on the Property ,��l
<br /> ; cnsutal against loss by Are,hazards incladed within the term"extended coverage"and any other ha�rds for which Lender
<br /> ; requires ictsurana. This insnrance shaU be maintained in the amounts and for the periods that Lender reqaires. Th�e
<br /> � . � insuratice carrier providing the inswance shall6e chosen by Borrower subject to Lender's approval whiah shall noi be
<br /> • . unrnsonably withheld. � � ' �
<br /> All insurance policiea and renewals shall tx acceptable to Lerrdec a�d shaU include a standard mortgage c.lause. "•
<br /> Lender shall fiave the right to hald the policies and renewals,IP I.ender re;,�iires,8orrawer shall promptly give to Ixnder � �
<br /> ', all tcceipts of paid premiums and renowai notices.In the event of 1oss.Bonower shall¢nve prompt notice ta the insurance . •
<br /> ��� carrier and Lender.Lender may maice proof of loss if not made promptly by�orrower. , . ;,�,
<br /> � Unless I.ender and Borrower atherwise agree in writing,insuran�ce praceeds shall be appl�ied to restoratierp or repair :. ,�
<br /> a f t he Prope r ty d a mag e d,i f t he res tora tion or repair is ecanomica l ly feasi b te an d L en der's security is not lessen e d. I f t he
<br /> ; . restoration or repair is not economically feasible or Lender's security woa�ld be lesseaed,the insura.�ce proceeds shall be
<br /> apptied to the snms secured by this Security Instrument,whether or not then due, with any excess paid to Boarower. !f
<br /> �orrower abandons the Property,or does not answer within 30 days a notice from Lender that the insurance�rrier has .
<br /> offered to settle n ctaim,then Lender may coltect tht insuranct proceeds.Lender may use the proceeds to repacr or restare
<br /> the Property or topay sums secured by thia Security Instrument,whether or not then due.The 30-day period wil)begin"-�"-"�-"- �-- �" � � �� � �
<br /> �; when the notice is giveie.
<br /> ; Unless Ltnder and Borroa•er otherwise agree in writing,any application of proceeds to principa)shall noi extend or
<br /> :, postpone the due date of the monthiy Aayments referred to in�3ragraphs 1 and 2 or changp the amount of the payments.lf
<br /> � under paragaph 19 the Property is acquired by Lender,Borrower's right to any insuraoce policies and proceeds tesulting
<br /> �( • from damage to the Property prior to the acquisitia;�shall pass to Lender tu the extent of the sums secured by this Security
<br /> . lnstrum�nt immediately prior to the acquisition.
<br /> ' 6. 1'reservatlon and Mdntee�utce of Pra+per�,l.easedolds. Borrower shall not destroy.��:nage ar substantialiy
<br /> ; . change the Propeny, aflow the Property to deteriorate ar commit waste. lf this 5erurity lrtstrument is on a lcasehold. .
<br /> � . Horrowet shall compJy with the pravisions of the lease,and if Borrowcr acquires fee title to the Property.the leasehold aad
<br /> ' fes title shall not merge unless Lenuer agrees to the merger in writing. � - ----
<br /> � ProttcHoe o!Lender'a ltigbts in tHe Property; MortgAge Insuraec�. I1'Horrower faits to perform the '
<br /> covenants and agreements contained in this Security lnstrument,or there tis�a legal proceeding that may signifirantly affect
<br /> _ _. iendu's righls su the ProPeKY(st:�t�S a pr�iseg ics I�,:aruptcy.�rolxite,for scmdeasaation or ics crsfoFCC taKS v: -
<br /> regulations),then Lender may do and pay for whatever is ner�ssary to protect the value of the Property artd Lender's rights ( .
<br /> • in the Propeny. Lender's aetians may inelude paying any s�.::s secured by a lien which has priority over this Security � �`�`,'
<br /> Instrument,atppearing in court,paying reasonable attomeys'fees and er:tering on ihe Pro�rerty to make repairs.Although � �1''
<br /> ` Lender may take action uttQer this paragraph 7,Lender does not have ta do so. .
<br /> �,,, Any amounts�isbursed by Lender under this paragraph 7 shali become addatianal debt of Borrower secnred by this
<br /> � . 5ecurity Instrument.Untess$orrower and Lender agree.tc�other terms oF payment,these amounts shall bear interest from � `�
<br /> , the date of disbUrsement at the Note rate and shall be payabte,with interest, upon nutice from Lender to 8nrrnwer . � �
<br /> requesting payment. - !�
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