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<br />UNi vam CovENAN7s. Borrower and Fender covenant and agree as follows:
<br />D. fhaywo at PtriscW ad Intersat; Pff#Wmeat and Late t wgps. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />Z Faads for Ta =ea aW Imseeaaee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Leader on the day monthly payments an due under the Note. until the Note is paid in full, a sum ("Funds") equal to
<br />one•twelith 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, Warty. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of a urrent 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 />Leader may not charge far holding 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 that interest shall be paid on the Funds. Unless an agreementt is. muh-- or applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or meimiiW emi die Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits a,m units id, the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as addition4 Trarthe sums secured by
<br />this Security Instrument
<br />if the amount oCt>iFwrds its by Leader,: trrtib3nar €utuLr txnQtnthly paym+al=im jtyable prior to
<br />the due dates attire esmaw mmr, shall excoa the r WZr Nq ato pay the escrow items *I= dwr, Om excess shall be,
<br />at BormvvW±fL c tigit, tixiit;c. aptly. E nid trs 8asiiz CrCXIWi��d to Borrower on me irjk> r- +. star s; of Funds. If the
<br />amount of tlbe %ttmis held tzy iertder iii mrt; tallciegt ttr x3► tiir>t: ro r ri ay to Lender any vw items when due, 6.60
<br />amount necessary to makearp<th a dt &air -y in otreor. pore payments as required by Lendef:' }
<br />Upon payment iii fi4 ota sums secured 4: this Security Instrument, Lender shall_ stiiyu offend to Borrower
<br />any Funds held by Lender_ Dander p=graph 19 the Property is sold or acquired by Lendm' r, - twAWI apply, no later
<br />than immediately prior to the We oflbn� Property or its acquisition by Lender, any Fumis*!, d by Lender at the time of
<br />-application as a credit against the surcisrred by this Security Instrument.
<br />3. ANliatim of Payments. Wess applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: 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; and last, to principal due.
<br />4. Charged Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security InstnuFrent, and leasehold payments or ground rents, if any.
<br />Borrower s)Ftalhpay these obligations in the manner provided in psragraph 2, or if not paid in that manner. Borrower shall
<br />pity. them on time directly to the person owed pa)m=L Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid-under this paragraph. If Borrower makes these payments directly, 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 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 ofthe 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 Propel,; or (c) secures ffom the holder of the lien an
<br />ageement satisfactory to Lender subordinating the lien to this Security Icanuument. If Lender determines that any part of
<br />the Property is subject to a lien which may attain priority ov ., tlsis Security Instrument, Lender may give Borrower a
<br />notice identi4* the lien. Borrower shall satisfy the lien or take one or more of the actiora set forth above within 18 days
<br />cf the giving, of notice.
<br />S. Hazard Ia swu w& Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured againtstlass by fire, &vazsrds included witt t t1c term "extended coverage" and any other hazards for which Leader
<br />requires insurance. This insurance shOrl _=�nlained in the amounts and for the pmDds that Lender requires. The
<br />insurance carrier providing the ins:i'r a► a .t.rt3t'' the chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals s7ll.>`'.: ate acceptable to Lender antt shall include a standard mortgage clause.
<br />Lender shall have the right to hold the V6,tcies vml rsnewals. If Lender requires, Borrower shall promptly give to Lender
<br />ail receipts of paid premiums and renewkl notices. In the event of loss. Borrower shall give prompt nc�z�.- to tl:e iirmrance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower,
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied tz� mworatinn or repair
<br />oG the Property damaged. if the restoration or r4,a.9r is economically feasible and Lender's security art. r i lessened. if the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insuran o: 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 dines not answer within 30 days a notice from LeridEr that the insurance caifier has
<br />otTered to settle a claim. then Lender mzy collect the insurance proceeds. Lender may nr.,e de proceeds to repair or restore
<br />the Property or to pay suss: secured ty tbis Sec&nyr Instrument, whether or tzar then due. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower vibt+:wise a3iee in writing, any application of proceeds to principal shall not eat "rnd os
<br />postpone the due date of the mor_.Ey p~x -n is re:`'srred to in paragraphs i and 2 or cha:^xr the amount of the payzxrts. If
<br />under paragraph 19 the Property is acgvt_r-A b- Lnder. Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acrws =s— shall pass to Lender to the extent of the sums secured by this Security
<br />instrument immediately prior to the acquisition.
<br />i Prearvatiaa and Mdmte=we elPtroprty; tAnti oMs. 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 droll amply with the provisions of t he 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. Prote.•tien of LeedWs ftbts in the PMperty- Mortgage Insurance. if Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument. or there ism legal proceeding that may significantly affect
<br />Le!tdees rights in the Propccty (suds = 2 pras:.c ding in bankruptcy. pn*stc, for condemnation or to enforce laws or
<br />regulations), then Lender may dmand pay for whatever is necessary to protect the value of the Property and Lender's 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 attorneys' fees 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-
<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 other terms of payment, these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower
<br />raquesttng payment.
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