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<br />89--M` 101455
<br />UNiFORM COVENA'., M Borrower and Leader covenant and agree as follows:
<br />1. Payment of Prlaetgal and Interest; Prepayaunt am Late Charges. Borrower --hall promptly pay when due
<br />the principal ofand interest ca the debt evidenced by the Note and any prepayment and latecharges due under the Note.
<br />2. Fonda for Taxes and tasuraacc Subject to applicable law or to a written waiver by Lender, Borrower shall ply
<br />to Lender on the day monthly payments are due under the Note. Note "Funds ")
<br />until the is paid in foil, a sum ( equal to
<br />one- twelft of- (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) ye. 1y
<br />leasehold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, ifany. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis ofcurrent data and ressonabkestimatesoffutureescrow 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 for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lander 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 cars` to be paid, Leader shalt not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to &rower, without charge, an annual accounting the Funds
<br />of showing credits and debits to the Funds and the
<br />purpose.for -ib cheach debit to: the Fundawas made The Funds are pledged as additional security for the sums secured by
<br />this Secioly Lristra one ,.
<br />utbe aM0=1 or the FitiM&Aeld S-3: r&--d- together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow ip,.rat3� shall eas:eed the amount required to the items
<br />pay: escrow when due. the excess shaft b4
<br />at Borrower's option, either promptly ce.*d to Borrower or credited to Borrower an nraaifrfy. payments of Funds. L1°t;li,:
<br />amount of the Fiends held by Leader is not sufficient to pay the escrow items wheat due- Barer shall pay to Lender any
<br />amount necessary to makeup the deficiency in one or more payments as required liy Lander.
<br />Upon payment in find of all sums secured by this Security Instrument, Lender "I promptly refund to Borrower
<br />any Funds held.by Lender. Wunder paragraph 14 the Property is sold by
<br />or acquired Lerr&,_ wader shall apply, rto pzszr
<br />than immediately prior to the sale of the Property or its acquisition by Lander, any FitadsbiiU �hy Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. AMlieadde of Piymatits. Unless applicable law provides otherwisetnil;ptgyt t eeivr I bender under
<br />parargraphs I and 2 shalt be applied: first. to late charges due under the Note; seabul tic.
<br />. Wri6mt chargm due under tPte
<br />Not, third, to amounts payable un paragraph 2; fourth, to interest due; and ialljdpi.
<br />xjII(aipwr> die.
<br />4. � Leas. Borrower sbail pay all taxes, assessments, charges; (ford iw"d impositions attributable to tike
<br />Property which ma3r attain priority aver this Security Instrument, and leytselrtihi PIRFMIM M .or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, -or i!'nat paid in that manner, Borrower shall
<br />pay than on time directly to the person owed payment. Borrower shall flush Lender
<br />promptly to all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall Isromptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Ins2mzment unless Borrower• Qa)
<br />agrees in writing to the payment of the obligation secured by the lien in
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<br />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 Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture
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<br />of any part of the ProroWty; or (c) secures from the holder of the Jim an
<br />agreement satisfactory to Lender subordinaing the lien to this Security Tttslrutment. If Lender determines that any part af
<br />the Property is
<br />subject to a lien which trAy attain priority over ths Security Instrument. Lender may give Borrower a
<br />notice identifying t ?,e lien. Borrower shah satisfy the lien take
<br />or one or more of the actions set forth above within l0 days
<br />of thegiving of notice.
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<br />S, Hasard Itaaaranee. Borrower shall keep the i=;rovements now existing or hereafter erected on the Property
<br />insured against Its by fire, hazards included within the c--m "extended coverage "and any other hazards for which Lender
<br />requires insurance. This insurance Bleak Abe mainta!ned eT the amounts and for the periods that Lender requires. The
<br />insurannce carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasmably withheld.
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<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the pc& -jes and renewals. If Lender
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<br />requires, Borrower shall promptly give to Leader
<br />all rtioeipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance
<br />carnet and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless lender and Borrower otherwise agree in writing, insurance
<br />proceeds shall be applied to restoration or repair
<br />of rise Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repas is not economically bible or Lender's
<br />security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Secuu -�°} Nstrument, whether or not then due. with any excess paid to Borra�rer. ]'G
<br />Borrower abandons the Property, or does n ✓s answer within 30 days
<br />a notice from Lender that the insurance csr ler has
<br />ot3eted to settle a claim, then L.ec =der may collect the insmrar-.e, proceeds. Lender tray use the proceeds to repair or restore
<br />t'te ]f'c'cOrty or to pay sums secured by this Security
<br />Lnstrament, whether or not than due. The 30-day period will begin
<br />when Ot notice is given.
<br />Unless Larder and Borrower othav se, agrM in writing. any application of Proceeds to rind
<br />l��c the d= vin of the month! principal shall not extents rr
<br />Y payaiems refereed to in paragr�tis ;and 2
<br />ttndex r,� as change the amount of the payments. if
<br />p�eragtaA- :. the property is acquired by Leader. Borrowers riglic to any imurance policies and proceeds resul ring
<br />from damage to she property prior to the acquisition shall Leerier
<br />pass to to the extent of the sums secured by this murity
<br />Instrument immediately prior to the acquisition.
<br />6. Praerwatioa and Mainteeanee of Proprpy; Leaseholds. Borrower shall not destroy, damage or substantially
<br />change the Property; allow the Property to deteriorate
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<br />or commit waste. If this Security Instrument is an a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Property, the iea Behold and
<br />fee title shall not merge unless Lender agrees to the in
<br />merger writing.
<br />7. Prvteettoa of Leader's Rights it the Property; long: gay» If Borrower faits to perform the
<br />covenants and agreements contained in this Security Instrument, or there is a legal nroceeding that may significantly affect
<br />Lender's rights in the Property
<br />(such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />regulations). then Lender may do and pay for whatever is necessary to protect the value of the Property Lender's
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<br />and rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />instrument. appearing in court. paying reasonable
<br />attorneys' fen and entering on the Property to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so.
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<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to
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<br />other terms of payment, these amounts shall beat interest from
<br />the date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower
<br />requesting payment.
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