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<br /> 90-- 1Q�305
<br /> UNIFORI�CovEtv�tvTS. 8orrower and Lender covenant und agrec as fnllo�v�:
<br /> : 1. P�yment of Prtnctnal and lnterest; P�epayment Hnd I.ate ChA�aea. Aorr�wer sha!! prampll�� pa�� �t he�i ciue
<br /> the pcincipal ofand interest on the debt evidenced by the N�te and uny prepayment and IAte chi�rFes due under thc Note.
<br /> 2. Fund�to�Taxes�nd Insurance. Subjcct to upplicable luw ar ta a written wai�•er by Lender,eorr�w•4r shall pay�
<br /> � ta Lender on�hc day monthly paynlents are due undcr the Note.until the Nate is paid in fuil, a sum("1'unds")equ:�l���
<br /> one•twelRh of: (a) ycarly taxcs and assessments H�hich mAy attain priority over this Security Instrument; (b) ��early
<br /> �e�seh�ld pa�yments er graund rents on the Proptrty, if uny; (c) ycarly hazard insu�Ance preniiums; and (d) ycarly
<br /> mortgage insurancc premiums,if any.These items arc called"cscrow items."Lender mAy estimate the Funds due on the
<br /> basis of current data and reasonablG ostimates of future escraw items.
<br /> The Funds shall be held in an institutian the deposits or accounts of which Are insured ar guAranteed by a federal or
<br /> state s�gency(including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escraw items.
<br /> I.�nder may not charge for hvlding and applying the Funds. analyzing the account or veriPying the escrow items,unless
<br /> I.ender pays Borrower interest on the Fuads and applicable law permits Lender to makc such a charge. Hanower and
<br /> • Lender mAy agree in writing that interest sha11 be paid on the Funds. Un!ess an agreement is made or applicable law
<br /> � requires interest to be paid, Lender shall not t�e required to pay Barrawer any interest or earnings on the Funds. Lender
<br /> shall give to Borrower,without charge,an anaual 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 sums secured by
<br /> : this Security Inserument.
<br /> If the amount af the Funds held by Lender,together with the future manthly payments�f Funds payable prior to
<br /> the due dates of the�scrow items,shall exceed the amount required to pay the escrow items w•hen due,the excess shall be,
<br /> � at Borrower's option,either prornptly repaid to Horrawer or credited to Honawer�a�monthly pay ments of Funds. If the
<br /> • amount of the Fundg held by Lender is not safficient to pay the escroK items w•hen due,Borrower shall pay to Lender any
<br /> _. . amount necessary to trtake un the deficienc�isa one nr more na�-mentc ac r��nirP�t hy i.Pn�ipr.
<br /> Upon payment in iLll o1'all sums secured by this Security lnstrument,Lender shall promptly refund to Bonawer
<br /> any Funds hetd by Lender.If under paragraph 19 the Property is sold or acquired by Lender,Lender shall apply,no tater
<br /> than immediately prior to the sale of the Property or its acquisition by Lender,any Funds hcld by Lender at the time of
<br /> application as a credit against the sums secured by this Security Instrument.
<br /> 3. Applic�tiod o!Payments. Unless applicable law pravides otherwise.all payments received by Lender under
<br /> paragsaphs 1 and 2 shall be applied:first�to late charges due under the Note;second,to prepayment chargec due under the
<br /> Note;third.to amounts payable under paragraph 2;foucth,to interest due;and last,to principal due.
<br /> 4. Ch�rgq;Liens, Borrower shall pay all taxes,assessments,charges, flnes an�i impositions attributable to the
<br /> Property which may attain priority.over this Security Instrument, and Ieasehold payments or ground rents, if any. ,
<br /> Borrower shall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall
<br /> pay them an time dircctly to the person owed puyment. Borrower shall promptly furnish to I.ender all notices of amaunts -
<br /> to be paid undcr this paragraph. If Borrow�r makes these payments directly. Borrawer shall protnptly Purnish to Lender �
<br /> --_ _-' receipts eyidSn�inR the�avmencs. _ '_ .f
<br /> Borrower shalf prumptly discharge any lien whicl�has priority over this Security Instrument unless t3orrawer:(a) �
<br /> agrccs 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 Lender's apinion operate to
<br /> prevent the enforcement of the lien or forfeiture of any part of the Aroperty; or(c)secures from the holder of the lien an �
<br /> ; agrament satisfactory to Lender subordinating the lien to this Security Instrument.If Lender determines that s�ny pan of '"
<br /> the Property is subject to a lien which may attain priority over this Security lnstrument, Lender may give Borrower a
<br /> � ; notice identify+ing the lien.$orrower shall satisfy the lien or take one or more of the acticns set forth above within 10 days —
<br /> of the giving of notice.
<br /> S. Huud Insurance. Bonower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured against loss by fire,hazards included within the term"extended coverage"and any other hazards for w Etich Lender
<br /> requires insurance. 7'his insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br /> � , insurance catrier providing the insurance shall be chosen by Horrower subject to Lender's approval which shall not be
<br /> ; unreasonably withheld.
<br /> Ap insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. �
<br /> I.ender shall have the right to hold the policies und renewals.If Lender requires,Borrower shall promptly give to Lender
<br /> � all rer.�ipts of paid premiums and renewal notices.1n 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 /> i Unless Lender and Borrower otherwise agree in writing.insurance proceeds shall be applied to restoration or repair �
<br /> � of'the Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened. If the . `
<br /> � restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be
<br /> applicd to the sums secured by this Security Instn�ment, whether or not then due, with any excess paid ta Borrower. If �
<br /> 8orrower abandons the Property,or does not answer within 30 days a notice from Lender that the insurance carrier has
<br /> offered to settte a claim,then Lender may collect the insurance proceeds.Lender may use the proceeds to repair or restore
<br /> � the Property ar to pay sun�s serured by this Sec�irity Instrument,whether or not then duc. Thc 3Q-day period wi{i begin
<br /> when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing,any application of'proceeds to principal shail not extend or
<br /> postpone the duc date of the monthly payments referred to in paragraphs 1 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 Propeny prior to the acquisit:on 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 Ma9nteaance of Property;Leaseholds. Borrower shall not destroy,damage or substantially
<br /> change the Property,allow the Property to deteriorate or commit ���aste. If this Security lnstrument is on a leasehold.
<br /> Borrower shall comply with the provisions of the lease,and if Borrouer acquires fee title to the Praperty,thr 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; Ziortgage Insurance. if �3orrow•er fails to perform the
<br /> cavenants and agreements contained in this 5ecurity Instrument,or there is a legal proceeding that may significantly aflect
<br /> Lender's rights in the Property (such as a proceeding in bankruptc}, probate, for condemnat:nn or to enforce laws or �
<br /> regulations),then t,ender may doand pay for whatever is necessary t�p:otect the value of the Yraperty and Lender'�rights •�
<br /> in ihe Property. L.ender's actions may include paying any sums secured by a lien tvhich has priarit}• o�er this Securit}� a
<br /> L Instrument,appearing in court,paying rcasonable attorneys'fees and entering or�the Prnperty�to make repairs. Although �`C
<br /> Lendcr may takeaction under this paragraph 7,Lender does not have to do so. �,
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Rc>rm�ver secured by this r-
<br /> Security Instrwnent.Unless Borrower and Lendcr agree ta other terms of payment.the�e amountti�hall hcar interest from �
<br /> the date of disbursement at the Note ratc and shall be payable, aith intcrest. u�c�n noticc from Lcndcr tn B�rr�w•rr , ��
<br /> requesting payment. r ,
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