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<br />- - - - - 89-101177
<br />UNIFORM COVENAPi{S. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Prineipal aad Interco% PtrWyment and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on thedebt evidenced by the Note and any prepayment and late charges due under the Note.
<br />Z. Funds for Taxes and Imminca 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." Leader may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an 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 fur holding and applying,the Fonds, analyzing the account or verifying the grow 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 twri`ting:that interest shag,b• p 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 giveta. Borrower, without charge. an annual accountina"P the Funds showing credits and debits to the Funds and the
<br />purpose fcr which each debit to the Funds was made. The Fa 41 are pledged as additional security for the sums secured by
<br />thi-&nr illy Instrument.
<br />iher amount of the Funds held_ by Lender, together g * e,:Uure monthly payments of Funds payable prior to.
<br />the d-6-- zlia of the escrow items, shall exceed the amount r ei '#,' ;,T-Z"B-} the escrow items when due, the ex ess shall be-
<br />at Borrower's option, either promptly repaid to Borrower cr.-: edited ^�o rower ca r ,Kanthly paymedts JJ i Ix;
<br />amount of the Funds held by Lender is not sufficient to pay the escrow rrnrLs when diie. Borrower shad pcK;
<br />•amount necessary to m2ka up the deficiency in o{te or more payments a_s rz4r ired by Lender.
<br />Upon paymett � it -full of all sums secure$ by this Security Insiir tit. Lender shall promptly refund rc., Borrower.-
<br />any Funds held by Laws. If under paragraph 19 the Property is sclrf %z. - Acquired by Lender. Lender shall app).;, no later
<br />than im-- mcaiately prcW ;6 the sale of the Property or its aciit*ion fi ' Lender. any Funds held by Lender r:t f1ic time of
<br />ipplica6:�i asa cr'eiu; t:: �inst the sums secured bb -this Security Instrument. ' • ' 1.
<br />R. Applica Paz b' P., ments. Unless :�g1_sable law provides otherwise, all payments received by Lender under
<br />p= ^M�,Y t;azis.l and 2 shall•be applied: first, to lot. a? �:Ygzs dcR under the 17 oe:.second, to prepaymen. charges due under the
<br />'�z:: third .to amounts payable under paragraph r� Trnterest d- :.v.. and last, r;; Crincipal due.
<br />d. diarges; Liens. Borrower shall pay 's ?z ;assessments, urges, F=en and impositions attributable to the
<br />Property which may attain priority over this v* Instrument, aau ieaseho i payments or ground rents, if any.
<br />Borrower shall pay these obligations in the ma�r,.ar ; avided in paragra11 �: r i1` ri,� t paid in that manner, Borrower shall]
<br />pay them on time directly to the person owed pLi t-lent. Borrower shall promptly finish to Lender all notices of amounts
<br />cc be paid under this paragraph. If Borrower makes these payments directly. Borrb a r shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />aka ees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />fzith the lien by. or defends against enforcement of the lien in, legal proceedings which in the Lender's 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 Leader subordinating the lien to this Security Instrument. If Leader determines that any part of
<br />the Property is subject to a lien wi;lich may attain priority, offer this Security instrur: cmt, Lend,-,r may give Borrower a
<br />notice identifying the lien. Borrowz- shall satisfy the lien or tL,, :e one or more of the actions set for-dir above within 10 days
<br />oche giving of notice.
<br />S. Hazard insurance. Horrawer shall l: {�tp the impn-,c t?aa+ existing or hereafter erected on the. Property '
<br />insured aV. i;ist loss by fire, hazards included withfn tke Itn.r verage' and any other hazards for which Lender
<br />requires ittisurance. This insurance shall be maint.wi;ti >art rC:e a .c•inll, and for the periods that Lender mplires. The
<br />irst:rance carrier providing the insurance shall by Borrows subject to Lender's approval whit h not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortg.�!3e clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly gi%a to Lender
<br />all receipts of paid premiums and rt�t4sr at notices. In the event of loss. Borrower shall give prompt notice to tha insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower othermse agree in writing, insurance proceeds shall be applied to restoration or repr.ir
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If tine
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any excess 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 Instrument, 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 principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I 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 proceed% resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by thi% Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and 'Maintenanee of Property; Leaseholds. Borrower shall not destroy. 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 fire provisionsof 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; Mortgage Insurance. If Borrower faiN to perform the
<br />co%enantsand agreements contained in this Security instrument, or there is legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding to bankruptcy, probate, for condemnation ar it, enforce laws or
<br />regulation%), then Lender may do and pay for whatever is necessary to protect the %aiue of the Property and Lender's fights
<br />to the Property. Lender's actions may include paying any sums Secured by a hen ahrch ha% priortty Mier flit,. S.curiq
<br />Instrument, appearing to court, paying reasonable atiornevs' fees and entering on the Property to make repair% Although
<br />Lender may take.acttctn under thi%paragraph 7. Lenderdoes not ha %e to doso
<br />Any arnouitt4 disbursed by Lender under this paragraph 7shall liecotne addimmal debt of Nnrnat er coca red b} this
<br />Securo5, Instrument Unlrrs% Borrower and Lender agree to other ternr %Of pat moot. thctie ..unrunt %shall hr fr ❑►terra tr au
<br />the date of distitaw went at the Mute rate and shall he payahle. etch interest. uP:,n notice from 1 czder tc llom tier
<br />rcqur%ttng pay inent
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