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<br />89-_ 109.405
<br />UNIFORMCOVE%ANTS. Borrower and Lender covenant and agree.asfollows:
<br />I. Payment o! Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal ofand interest on the.debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds fDr Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day nionthly, payments are due under the Note, until the Note is paid in full, a sum ("Funds ") equal to
<br />one - twelfth of (a) yearly teamand assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or grourd' rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums,.il".any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and seasor.W_- estimates of future escrow items.
<br />The Funds shall be held era an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lenda ifl[.ender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for haldit;g 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 thtt interest shall be paid on the Funds. Unless an agreement is mad; or applicable law
<br />requires interest -to be paid, Leader shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, Mthaut ,zharge, an annual accounting of cis+: 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 additionzE security for the sums secured by
<br />this Security Instrument.
<br />If the amount of th-, Fends held by Lender, together with the future monthly- payments of Funds payable prior to
<br />the due dates of the escrow iteiiis. shzU exceed the amount required to pay the ces= �, items when due, the excess shall be,
<br />at Borrowers option, eithw ps. ptlyr repaid to Borrower or credited to Borrc r eroa mcathly payments of Func". If the
<br />– amount of the Funds held by Lender is not sufficient to pay the escrow items :»s ^:^ borrower shall pay to Lander any
<br />amount necessary to make up thrdeficiency in one or more payments as requkoa`. tender.
<br />Upon.payment in full ofiall sums secured by this Security Instrumetnit, . yea shall promptly refund to liorower
<br />any Funds held by Lender. If Helder paragraph 19 the Property is sold or acglired 11 Lrender. Lender shall apply, jag later
<br />than immediately prior to thv stale of the Property or its acquisition by Lende , -iris Funds held by Lender at the time of
<br />application as a credit against tlrpsums secured by this'Security Instrument.
<br />3. Application of Ptaymromts. Unless applicable law provides otherr=se, all payments received by Lender under
<br />paragraphs I and 2 shall be applitd: first, to late charges due under the Note: second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth. to interest due; anti last, to principal due.
<br />4. Charges, Lims. Burrower shall pay all taxes. assessments, charg -, fine`s and impositions attributable to the
<br />Property which may attain prictrity.over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obliptions in the manner provided in paragraph 7 .t1r'if not paid in that manner, Borrower shall!;
<br />pay them on: time directly to the fisrson owed payment. Borrower shall prcarpily furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments direct!.. Borrower 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 />agrees in writing to the payment .tithe obligation secured by the lien in a munr,.er acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal procee:iir,Is which in the Lenders opinion operate to
<br />prevent thin enforcement of the live or forfeiture of any part of the Property. o. (c) secures from the holder of the lien an•,
<br />agreement batisfactory to Lendersabordinating the lien to this Security Instrument. [Fr- rider determines that any part of
<br />the Property is subject to a lie a which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the tier;_ Burrowker 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 Insumnm Borrower shall keep the improvements raw existing or hereafter erected on the Property
<br />insured against loss by fire, hemrds included within the term "exlended co: erage ' and any other hazards for which Lender
<br />requires insurance. Tiss insurance shall be maintained in the sarnounts and for the periods that Lender requires The
<br />insurance carrier providing Or insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withhewd.
<br />All insurance policies and renewals shall he acceptable to Lender at•td shall include a standard mortgage clause.
<br />Lender shall. have the right to hAd the policies and renewals. If Lender requires. Borrower shall promptly give to Lender
<br />all receipts of paid pretnitims :and renev -al notices. In the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Under. Lendex- rnzy make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance pren,. -eds shall be applied to restoration or repair
<br />of the Property damaged; W the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restorat :a(1, or repair is 1191 economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied veJ(he sums secured by this Security instrument, whether or not then due, with any excess paid to Bor,-*Wer. if
<br />Borrower.ah;andons th�Property, or does not answer within 3111days a notice from Lender that the insurance carrier has
<br />offered to settlea clairn, then Lender may collect the insurance• l roceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pray sums secured by this Security Instrumenit_ whether or not then due. The 30-day period will begin
<br />when the notice is given:
<br />i Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone.the• due date of1he monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. if
<br />under paragraph 19 AmProperiy is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />from damage to thr Property prior to the acquisition shall pass to lender to the extent of the sums secured by this Security
<br />Instrument immediat:elyprior to the acquisition.
<br />6. Ptreservaticoand Maintenance 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 compl),with the provisions of the lease, and if Borrower acquires fee title to the Property. the leasehold and
<br />fee title shall not art :rge unless Lender agrees to the merger in writing.
<br />7. Prottrttaer d Lender's Rights in the Property; Mortgage insurance. If Borrower fails to perform the
<br />covenants and agrtetrAntsconlained in this Security Instrument. or there is a legal proceeding that may significantly affect
<br />Lender's rights in iLd, Property (such as a proceeding in bankruptc). probate. for condernnatum or to enforce laws of
<br />regulations), theta L=44r may doand pay for whatever is necessary to protect the value of the Property and Lendei % rights
<br />in the Property, l.frafitr's actions may include paying any Burns secured by a lien which has priority oter this Security
<br />L Instrument, ap; earir-,rin court, paying reasonable attorneys fees and entering tin the Property to make repair. Although
<br />Lender may take act:rsn under this paragraph 7. Lender dues not ha,.e to do so
<br />Any am ,1-:a disbursed by Lender under this paragraph 7 %hail become additional debt of 11orronser secured by this
<br />Security instru :net r Unless Ilorftmer and Lender agree to other tertm erf par inctil, these artioutitt. shall hear uttcre%t fr,tsa
<br />the date of diOvi-se-sient at the lute rate and shAl he r.j }.atste. moth ttitrrr%t. upon notice tram t comer ti, tt:rn•aer
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