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<br />s9- 101175
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Paymdtt of Principal ad IdWest; PrepayMent and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debte0denced by the No *_e and any prepayment and late charges due under the Note.
<br />2. Fandsfor Taxes sad lasorsom Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds') equal to
<br />one- twelfth of: (a) yearly .taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estim sates of future escrow items.
<br />The Funds shall be held in art institution the deposits or accounts of which are insured 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 on 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 interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits'to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sutras secured by
<br />this Security Instrument.
<br />If the 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 ameatrit required to pay the escrow items when due, the excess shall bt„
<br />at Borrower's option, either promptly repaid to Borm- er or credited to Borrower 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, Bernpwer shall pay to Lender ,%�y
<br />amount necessary to make up the deficien.:tRgn one ormore payments as required by Lender.,
<br />Upon payment in full of all sums secured by dais Security Instrument. Lender shall promptly refund to Bom-wcr
<br />aay- Funds held by Lender. If under paragraph 19 the Property is sold or acqui -W by Lender, Lender shall apply, no later
<br />tra:W immediately prior to the sale Of the Property or its acqusition by Lend= any Funds held by Lender at the time of
<br />application as acredit against the sums secured by this Security Instrument.
<br />3. AWY ittion of Payments. Unless applicable law pry yi -4es otherwise, all payments received by Lender under
<br />paragraphs I imd-1 shall be applied: first, to late charges due una:- =c Now: second, to prepayment ch3rL�s due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to irmeres:' �ue.. zr-.d last. to prine pal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assess.z,e� =s, Cho rp . fines and im- positions attributable to the
<br />Property which may attain priority over this Security Instrumer._r, zzc leasehold ply :,.eats or ground rents. if any.
<br />Borrower shall pay these obligations in i'rie manner provided in paragraph 2, or if not payee in. that manner, Borrower shall
<br />pay them on time directly to the person.ou. -d payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, S:.rrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharger any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner 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 Lenders opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory 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 Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard insurance. Borrau,!�, shall keep the improvements now existing or hereafter erected on the Property
<br />imured against lossby fire. hazards inc u ed within the term "extended coverage' and any other hazards -5,& which Lender
<br />re ti ices insurance. This insurance sirs :ii be maintained in the amounts and Cor the periods that Lena :r.•requi�_s. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval whici::;:sil are *tie
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable tc Lender and shall include a standard mortgage ciai:se.
<br />Lender shall have the ri&E to hold the policies aria ncri- cwals. If lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notice4 sn the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be atrl .plied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is -uO lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insuram;. proceeds shall be
<br />applied to the sums secured by this Security instrument. whether or not then due, with any excess pas ro 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 cr rchrnre
<br />the Property or to pay sums secured by this Security Instrument. whether or not then due. The 30 -day period w:11 tag t
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to princiF_l dial iicet extend or
<br />postpone the due date of the •rnonthly papmaents referred to in paragraphs 1 and 2 or change the amount c the payme:ts. If
<br />under paragraph 19 the Property is acquir,.A by Lender, Borrower's right to any insurance policies and proceeds res�i i
<br />from damage to the Property prior to tbt. aurquisititm 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 'itvjctenance of Propene• ;, Leaseholds. Borrower shall not destroy, damage or substantially
<br />change the Property, allow -ht Prepert4 to deteriorate or commit waste. If ,,his Security Instrument is cm a Ieauhold,
<br />Borrower shall comply with the provi5ifi"xs of the lease, and if Borrower acquires fee title to the Property. the leasehold .arid
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property: Mortgage Insurance. if Borrower fails to perform the
<br />cmenants and agreements esontained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />W itii.er s rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or to enforce iaWl. or
<br />rag .4aNun, j, Thar Lateict may do and pay for whatever is necessary to protect the value of the Property and Lender's right%
<br />in the Property. Lender'. actions may include paying any sums secured by a lien which has pnorny mer this Security
<br />Instrument, appearing in court, paying reasonable attorneys fees and entering on the Property to make repairs Although
<br />Letider may take action under this paragraph 7. Lender does not have to do so
<br />Any antoutits diftmed by Lender under this paragraph 7 shall hecome addihunai dcht of Hotrower se: tired by thus
<br />security lnstrnrnem Uflk -%,. Burrower and Lender agree to other terms of paymcul. these anroants shall hear In toC %I fr.+tn
<br />the date of tinbutsernenl at the Note rate and shall be payable. with interest1 upon nolive front I cider to hello ver
<br />requesting paynieni
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