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<br /> � � UNIFORM COVENA'37'� Borrbwer and I.ender covenant and ager as fallows: � . �
<br /> �l. E�aysKat ot Prtaci�ti aRd Ipteres�Psepsxmtat aad Lte Chlrge�.� Borrowcr shali pramptly pay when due ' �
<br /> '. the ptincipal of and intsrest`on tht debt tvidenced by the Nate and any ptepaytqtent and late charges due under the NotE.� • .
<br /> . . 2. Fuads fair Tu�a�d insuraece. Subject to appli�able law or to a written waiver dy Lender.Borrawev shalt pay �
<br /> to Lender on the day monthly payments are due under the Note.untit the Note is paid'tp fi�l.a sum{"�unds")equal to � •
<br /> r ono-tweifth of: (a)ytarty taxes attd asses�nents which may attain priority over tbis Secvnty Instrument; (b) yeudy . � ;� �
<br /> �!; `. ` :�IeesthoM psymsats os gtoond renu nn the Prap�rty, if any:tc) yearly hazard insurance premiums: and (d) yeaTty � � - :
<br /> ' � mortg�tse inst,�raiicse ptaniums,if any.These items are called•'escraw items:'Lender may estimate the Funds due on thE • .
<br /> . � bssis ofCUrnnt data and res�sonable estimates of future escrow items. � � . �
<br /> ' ' The Funds shall be hetd in an institution the deposits or accounts of which are insured or guaranteed by a feduat or , '
<br /> . ' atate aEency(inctuding Laider if Latder is s�ich an institurion?. Lered�r shaU apply thc Funds to pay the escro�items.�
<br /> � . t,ender may not ch�urgc fnr hotding ated apptying tht Funds�analyzing the account or verifying the escraw items,unless
<br /> � . . Lender pays Harrower"inierest on the Funds and applicable law pe�niu Lendtr to make such a charge. Borrower and � .
<br /> � � ' I,ender tnay aga irt writing that int�t shall be paid on the Funds. Unless an agreemmt is niade or agplicable law �
<br /> ` � requires intecest to 6t paid�dtr shall not 6t req�it�d ta pay Horrower any interest or earnin$s an the Funets.I.onder' , �
<br /> ; ` ' sha�l giva to Borrower,without charge,an antival accounting of the F�ands shaaringcratits and debits to tht Funds anst the - :
<br /> � . pu�pose for 9vhich each debit to the Funds was madt=3'ne Funds are pledged as additional secu�ity for the sums secured by .
<br /> t , �� this Sacurity Instrumen� . � . •
<br /> � If the amount of the Funds heid by Lercder,togtther wriih the future monthty payments of Funds payabl�prior to .
<br /> ` the due date,c of tbe escrow items.shall exceed tht amount required to pay the escrow items when duG the excess shali b� � �
<br /> ' ' at Borrowe�f's aption,either promptly repaid ta Botrower or crtdited to Bonower on ntonthly payments of Funds.If the � •
<br /> amount of the Funds held by Lender is not sufr'tcient ta pay the escrow items when due,Borroa ec shall.pay to Lxndrr any �
<br /> - amouat nccessary to make ap ttae deficiencyin one or mon payments as rgquired by Lender. � ' ,
<br /> + � Up�-payatent in fu11 of all sums secured 6y this Security Insttument,Lender shall promptly refi:ud ta Borrower
<br /> ; any Funds hdd by I�der.If under paragragh 19 the Property is sold or acquired bp l.ender,Lender shai�apply,no later
<br /> � ; than inimediately prior tQ the sak of the Propeny or its acquisition by Lender.any Funds held by I.en��r at the time nf
<br /> ' application as a credit against the sums secured by this Security[nstsument. .
<br /> � . 3. Applicatioe ot Psyreents. Unies's applicaDM law p*ovides otherwise,all payments receiv�d by Lender under . �
<br /> � ' ; paragraphs 1�nd 2 shall be applied:first,to tate charges¢�ue under the Note;sec�nd,to prepayment charges due under the , �
<br /> Not�third,to amawtts payabt�under paragraph 2;foutch,to interest due;aad tast,to principal due. �
<br /> • � 4. C6arges;.Liens. Sdir`ower shaRl pay all taxes,assessments,charges, fines and irn�oositfons attn°butabte to the . �
<br /> ' Property which may attain priority.over tfiis Security Instrument, and leas�hold payme�x� or ground rents, if�.
<br /> . Borrower shall pay thtse obligatians in the manner providod in paragraph 2,or if nat patd in that manner,Borrower sr�a31 . ; ,
<br /> � pay t&e:n on time directly to t�►!e person awed paymen�.Honower shall promptly furnish to Lender all notices af amounts
<br /> � . � to h+c�id nnder this paragrapP�If Borrawer makes these payments direetiy.&nrsower shall promptly fc�cnish to Lender ,_
<br /> - reces�rsevidenciag the payments. . . '
<br /> Borrower shall promptly discharge any lien which has priarity over this Security Insuument unless�Borrower:(a) f .
<br /> agrees in writing to the payment of the abligatipn secured by the fien in a rtanner acceptable to Lender;(b)contests in good ��.
<br /> faitln the lien by,or defends against enforcement of the lien in,tegal proceedings which in the Lender's opinion operate to ;
<br /> prer�ent the enforcement of the lien or forfeiture of�ny part of the Property;or(c)secures from the hotder of the lien an . , '.
<br /> agreement satisfactary to Lender subordinating tiie lien to this Security lnstrument.If Lender determines that�ny pa»of . .
<br /> the Prnperty is st�ject to a lien which may attain priority over this Security Instrument,Ijender may give 8onower a
<br /> , notice identifya�g che lieh.Bonower shall satisfjr the lien or take one or more of the actians set forth above within 10 days �_
<br /> ' of the giving af nat�r,e. . : ' —
<br /> 5. Hazatd dnsurance. Bonower shall keep the improvements naw ex:st'sng or hereafter erecte@ on the Property f.
<br /> insure3 against loss by fire�hazards included within the term"extended coverage"and any other hazards+.`�r which Lcnder
<br /> ; requires insurance. This insorance shall be maintained in the amouRts and for the periads that i.ender. requires. The t
<br /> , insurance carrier providing the insurance shall be chasen by Horroaer subject ta Lenders�pproval which shall nat be'
<br /> . unreasonably withheld.
<br /> . ' � All insuranse policies 3nd renewals shall be actieptable to Lender and s:�a11 include a.standarc!martgage clause. �� �
<br /> � I.endes shall ha��ehe right t4 hotd the policies and renewals.lf Lender requires.•Borrawer shall prom�c��give t�Lender
<br /> ' atl receipts of p�premiums and renewa!notices.ln the event ottess,Borrower shal}give prompt notice to the insurance ' , �
<br /> carrier and Lender.Lender may make proof of loss if nat made premptly by Barrowor. , � ;:;�
<br /> � Unless Lender and Borrower atherwise agree in writing.insurancc proceeds shall be a�plic�d to restaration os r�rair ; �
<br /> , of the P'raperty damaged.if tiie restoration or repair is economically feasible ard Lender's security is ao4 ls�sened. If'the '
<br /> restazation or repair is rcas e�namically feasible ar Lender s security would�:� :essened,the insuranae�¢�,oceeds shall be
<br /> .� , applied to the s4ms secured by this Sesurity Instrument.whether or r.ac c�en�ue,with any excess p�id to Borrou�r. lf �
<br /> Borrower abandons the Property,or daes not answer within 30 days a notice F am Lender that the insurance eam°r has
<br />` offeriad to settle a elaim.thers Lender may callect the insurance proceeds,Lender�ay use.the praceeds to repair or restore
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<br /> . , th�Aroperty or to pay sums secured by this Security �nstrument.whether or a�c then due.The 30-da}�;�riod will begin .
<br /> w�:en the notice is given. '' '
<br /> Unl�s Lender aad Borrower othe�wise agree in writing.any application�f proceeds to prineipa)shall not extend or
<br />' postpone the due date af the manthly payments referred to in paragraphs 1 and 2 or change the amaunt of'thc payments. If
<br /> under paragraph 19 the Properiy is acquired by l.ender.Borrower�S llgllf i0 8D)t IIISLiIIIICC pUItC1E'S'slR(I QfOCCCdS�CS13Iililg
<br /> from damage to the Propetty ptior to the acquisition shall pass to I.ender ty the exteut af the sums securcd by this 5ecurity
<br /> � Instrument imraediately prior to the acquisition.
<br /> ' 6. Preservation and Maintenance o!Properfy;Leaseholds. Horrower shall not destr��y,damage or substantially
<br /> change 1he Property.allow the Property to deteriorate or commit waste. 11'this 5ecurity instrument is on a leaxhold,
<br /> � Bor�ower shal)comply with the provisions af the lease,and if Barrower ucquires fee title tn the Properiy.the leasehold and ____
<br /> fee titte shaU not merge unless l.end'er agrees to the merger in tivritin�. � � �
<br /> ' 7. ProtecNon o! Lende�'s Rig,hts in Ahe.P�operry; Mortgs�ge lnsurnrtce. IP Horrower fails tv perform the �
<br /> � ._ soveaants and�reementsconlained i�this Security lnstrument.or there is n legal proceeding lhat may siguiHcantly affect �
<br /> Ixnder's rights in the'Properry (such as�a prnceeding�in bankruptcy. probate. fnr condemrtaiiun or t��enturre taws c�r
<br /> regutations),then Ixndrr may d�and pay far whatever is neressary tv protert the value of tbe prc+perty and Lcnder 5 rights �
<br /> in the Property. Lender's actio��.5 may inrlude paying any sums secared�y a lien which has priority nver thiti Security
<br /> � Instrument,appearttg in court.ppying reasonable attorneys'fees and entering on the Prc�petly tu make re{�airv.Alth��ugh �
<br /> Lender may take artion under this pacagraph 7.Lender does not hace t�do so. �` .
<br /> ` Any amountsdisbutsed by Lender under this paragraph 7 chall become adJi�ie�ual dcht uf H��rro�rer 4ecured by thic �
<br /> Security lnstrument.Unless Barr�wer�nd Lender agree tc�olher termti af p�iymcr�t.thcsc amounts shall hcar intcre�t frnm ti
<br /> _ the d�te of disbursement :it the Nc�te raie and shatl b� pay:�t�tt, a'ith intcre�t. up�n ni�ttce frs�rrr Lcndcr tc. Hc�rri►tv�r (L1
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