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<br />_yam 101673
<br />UNIFORM CAVI_NA%. Borrower and Lender covenant and agree asWows;
<br />shall promptly pay when dae
<br />1l. Payn"t of PtriadPJ tad interest; Prepsywat and Late Charges. it
<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 for Taxesattd Insurance. Subject toapplicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are du: under the Note. until the Mote is paid in full, a sum ("Funds") equal to
<br />r one - twelfth of (a) yearly taxes and assessments which may attain priority over this Security instrument: (b) yearly
<br />�l leasehold payments or ground rents on the Property, if any; (e) 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 />basisof current data and reasormble 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 topay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the aecount 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. Vnless 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 sums secured by
<br />this Security Instrument.
<br />If the amount of the Fund% 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 amount required to pay the escrow itexxtss when due, the excess shall be.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on mcnt!ty payments of Funds. if the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items wh. --i due, Bar. over shad pay to Lender any
<br />amount necessary to make ep the deficiency in one or mrne payments as required' -by Lender.
<br />Upon payment in furl of all sums secured by thin purity instrument. Gender shall promptiv mfund to Borrower
<br />any Funds held by Lender. If under paragraph I9 the P1oiipterty is sold or acquired by Lender, Lender shall apply:. no later
<br />than i.�edi:ti..ey prior to the sale of the Property oa 'its acqursid -fm by Lender, any Funds held by Lender at the time of
<br />aF;�i &c i %�x .a credit against the sums securedby ;d4isSecurity-Ltstrument.
<br />3 Application of Payments. Unt.�ss agtII+taPable law p *ovides otherwise, all payments received by Lender under
<br />gwagraphs 1 and 2 shall be applied: first, to We charges due under the Note_ second, to prroayment charges due under the
<br />Dote, third. to amounts payable under paragraph 2; fourth, to interest due; and last, to prnciipal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assc+6ments, charges, fines and impositions attributable to the
<br />Property which may attain priority,over this Security Iey;, rzttt, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner VW aided L-x -yxiagraph Z,.cr if not paid in that manner, Borrower shall
<br />pay them on time directly to Out person owed payment. Bormw W r shall prcwptiv furnish to Lender all notices of amounts
<br />to be paid v.n&!r this paragraph. if Borrower makes these payments directly. Borrower shall promptly furnish to.Lenden
<br />receipts evidretcing 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 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 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
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<br />notice identifying the lien. Borrower shall satisfy thM lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurwce. Borrower shall kaqp, rite improvements now onisting or hereafter erected on the Property
<br />insured again t. bass by fire. hazards incl;ided within -1,7. term "extended coverage" and a*nj, other hazards for which Lender
<br />requires insurance. This insurance sh;LIl sae mainmined in thz :am.aunts and for the ,p2nods that Lender requires. The
<br />insurance carrier providing the insurance :mlv by Borrower subject to Le•n2 -- s approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renew, s. shat L`i: acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the p;s;l',sies and renewals. If Lender requires. Borro:sar shall pr.m-ptly give to Lender
<br />all receipts of quid premiums and rettevttl notices. In the event of loss. Borrower shall t r-- prompt mniwe to the insurance
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<br />carrier and Lsnider. Lender may make rr roof of loss if not made promptly by Borrower
<br />Unless Lender and Borrower otherwise agree in writing, insurance prctuw6s %h .1 be applied to restoration or repair
<br />of the Property damaged. if the restoration or repair is economically feasibrt:a,-.d Lender's security is not lessened. if the
<br />restoration of repair is not economically feasible or Lender's security would be lesser 24., -,ire insurance proceeds shall be
<br />applied to t9tc sums secured by this St.-urity Instrument, whet.tle or not then due, with..xny excess paid to Harrower. If
<br />Borrower ah ndons the Property, or does not answer within 'M stays a notice from Lendv that the insurance carrier has
<br />afwed to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds, to repair or restore
<br />ti~,z; Property or to pay sums secured by this Security instrument. whether or not then due. The 30 -dvp 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 />p ntpone the due 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 />frorrn damage to the Propv:rty prior to the acquisitioa shall pass to Lender to t ht extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and 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 leam!hold.
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property. the leasehold and
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<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Bights in the Property; Morigage insurance. if Borrowcr fails to perform the
<br />covenants and agreements contained in this Security instrument. or there is a legal pro needing that may sirtntficantly affect
<br />Lender's rights in the Property (such as a proceeding its bankruptcy. probate, for cdmdemnatum or to enforce laws or
<br />Under ay doand pay r %r v. hatever tv prvi=t the talue o :he Prop_rt star! Lender's rights
<br />:rgtrlssre:ns� then. rr
<br />to the Property. Lender% actiom may include paying any sums secured by alien which has prtnnty over this Security
<br />instrument, appearing in court, paying rea54inahle attorneys' fecw and entering on the Property it, make repairs. Although
<br />L Lender may take acticrt under tht•. paragraph 7. Lender does not hale In do so
<br />Any amount %di ;burscd by 1 ender under this paragraph 7 shali become additional debt of tht:
<br />Security instrument Uuless 11;trrowet and I ender agree tooihet leans ( +f paymrnr. tlrc•r .tnt1 'III tt, %hall hr.sr Interest from
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<br />tee date of di %hursement at the Note rate and ;hall he payahte, tistth interest. urt•n notice from t cndur et• Hvrro%kel
<br />fequ+. mg paytncnc
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