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r <br />UNIFORM COVENANTS. Borrower and Lender covenant attd agree as follows: 89-100817 <br />1. payment of Frincipal and Interest; Prepayment and Late Charges• Borrower shall promptly pay when due <br />the principal of and interest on the debt evidenced by the Note and any prepayment and late`charges due under the Note. <br />2. Funds for Taxes and Insurance. Sub ect to applicable law or to a written waiver by Lender. Borrower shall pay <br />to Lender on the day frronthlgr payments are due under the Note, until the Note is paid in full. a cum ("Funds') equal to <br />one- twelfth of: (a) yearly taxes-, and assessments which may attain prierity over this Security instrument; (b) yearly <br />leasehold payments or ground rents on the Property, if any; (c) years.• hazard insurance premiums; and (d) yearly <br />mortgage insurance premiums, if any: Thesc items are called "escrow items ,. Lender may estimate the Funds due on the <br />basis ofcurrentdata and reasonahle estimates of future escrow items. <br />The Funds shall be held in; an institution the deposits or accounts of which are inpured or guaranteed by a federal or <br />state agency (including Lender if Lender is such an institution). Lender shall apply. the Funds to pay the escrow items. <br />Lender may not charge for holding and applying the Funds. analyzing the account or verifying the escrow items, unless <br />Lender pays Borrower interest oar- the Funds and applicable law permits Lender to make such a charge. Borrower and <br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law <br />requires fili tent to be paid, Lender shell not -be required to pay Borrower any interest or earnings on the Fund::. Lender <br />shaj! ,vP t a l rrower,.without charge. an annum - accounting of the Funds showing credits and debits to the Funds and the <br />ich each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by <br />ttis5ectttary farstrument_ <br />I^ tb&amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to <br />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due. the excess shall be, <br />at Borrower's option, either promptly repaid to Borrower or credited to Burrower on monthly payments of Funds. If the <br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower s1T4- pay to Lender any <br />amount necessary to make up the dcfidency in one or more payments as required by Lender. <br />Upon payment in full of secured by this Security Instrument, Lender shall promptly refund to Borrower <br />any g „nOs held by t p�ct�•r. If t�n�� �ragraph 19 the Property is sold or acquired by Lender. Lender shall apol�, no later <br />than immediately prirsrJi the sale of the Property or its ar_ an :ZYOn by Lender. any Funds held by Leader at the time of <br />application, as a credit'* r t the sums secured by;lies Sem -rru IrsMUI <br />3. {lAltJiclttintt of Payments. Unless applic ye la.�'•jn 3vide�.athe:-wise, all payments recx£ +ed by Lender under <br />paragraphs land 'l skr3:i; _14- applie_ first, to late charges die wader the Note; second, to prepayment charges <br />clot tcrder the <br />Note; third, to amaroji pityable t:;- paragraph 2; fourth, to i terest due, and last, to principal due. <br />4. Charges: I `.t , Born7&er shall pay all taxes, assessments, ci rges, fines and impositions attriba ie to the <br />Property which maf,iiftr priorty,over this Smutity Instrument. and: easehold payments or�nround rents, if any. <br />Borrower shall pay ti r:, lYgalri s �. apt the matr� .ey provided in paragragrm 1i or if not paid in thss ta; - .inner. Borrower shall <br />pay them en time direei: y is the perwn owed pat. -m , �t. Borrower shall pEv aptly fur -._4!i to Len&T,aLt notices of amounts <br />to be raid under this paragraph. WBorrower make directly, Borrcwcr rfaall pr9m tly furnish to Lender <br />receipts evidencing the payments. <br />Burrower shall promptly discharge any lien which has priority ea.ur this Security Instrummt unless Borrower: (a) <br />agrees in writing to the payment of the obligation secured by the lien in a d umner acceptable to Lender; (b) contests in good <br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to <br />prevent Cie enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an <br />agreement satfsfactory to Lender subordinating the lien to this Security instrument. If lender determines that any part of <br />the Property is subject to a lien which may attain priority over this Secimay instrument, Lender may give Borrower a <br />notice identifying the lien.. Borrower shall satisfy the lien or take one or ts,or �et�f the actarcis set forth above within 10 days <br />of the giving of notice. <br />S.. Ilawd Insurance. Basrower shall keep the improvements now existir.P -Ir %creafter erected on the Property <br />insured—against loss by fire, hazzVP5 included within the term "extended coverage” and 4 y other hazards fora�fUtaa Lender <br />requires insurance. Tlv,, irsurance shall be n dintained in the :amounts and for the periods th 1t Lender `-zq�ires. The <br />insurance carrier providiri.; the insurance sh,31i Ele Chosen by Borrower subject to Lender's apr:,n*1jJ whkh shall not be <br />unreasonably withheld., . <br />All insurance p¢'.icies and renewals shall be aec@;.;alsle to Lender and shall include a standard ts. rt.targe clause. <br />Lender shall have the right to hold the policies and tenewais. If Lender requires. Murower shall promptly�ixw, to Lender <br />all receipts of paid premiums and renewal notictn. In the event of toss, lv. Vower shall give prompt notice to the insurance <br />carrier and Lender. Lmn er may make proof of Ins, a sf not made prompt:: hti: Borrower. <br />Unless Lender and Borrower otherwise agree in writing, insura at: proceeds shall be applied to restoration or repair <br />of the Property damap:!, if the restoration or repair is etc nomicaily feasible and Lender's security is not lessened. If the <br />restoration cr repair i; n,nt economically feasible or Leni e- security would he lessened, the insurance proceeds shall be <br />applied to the sums itcured by this Security imtru.ment. v,hether or not then due. with any CLCk s paid to Borrower. If <br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has <br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore <br />the Property or to pay sums secured by this Security hratntmcnt, whether or not then due. The 30-day period will begin <br />when the notice is given. <br />Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principalshall not extend 4-r <br />postpone the due date of the monthly payments referred to in paragraphs t and 2 or change the amount of the payments. If <br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting <br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the Sums secured by this Security <br />instrument immediately prior to the acquisition. <br />6. Preservation and Maintenance of Property; i.easeholds. Borrower shall not detitroy, damage or substantially <br />change the Property. allow the Property to deteriorate or commit waste. if this Security Instrument is on a leasehold. <br />Borrower shall comply with the provislonsof the lease. and if Borrower acquires fee title to the Property, the leasehold and <br />fee title shall not merge unless Lender agrees to the merger in writing. <br />7. Protection of Lender's Rights in the Property; %tortR,age insurance. If Borrower falls u+ perform the <br />covenants and agreements contained in this Security Instrument, or there 1s a legal proceeding that may significantly affect <br />tenders rights to the Properly (such as a proceeding in bankruptcy. probate. for condemnation or to enforce laws or <br />regulations). then i -ender pray do and pay for whatever is necessary to +protect file %clue of the Property antd Lender's righfv; <br />1n the Property. Lender's actions may include paying any ,urns secured by a lien has priority oirr tills Securlty <br />instrument. appearing in court, paying reasonable attorneys' fees and entennc t,n for Pt( ;ter to make repair` Although <br />l.ctider may take action under ihts paragraph 7. Lender does not hav e to do so <br />Any amount. dlshlir,.d he Lender under this paragraph 7 shall hc, ome additional debt o` It.irro:v cr Nccured by th;ti <br />security instrument 11nle„ III ,rrower and I ender agree to 4%1her termm. of pa}111cnt, these .1moan'. %hall hc•,ir tIstere "t fr, .I: <br />the date of dishutscrnent tit the Note rate anti shall be payat'le. istll: ,mere.. urim ito:1_r fri•:n I cndr! 1t, 110n-cr <br />teyue,tuta l•ay nlelrt <br />r, <br />I <br />