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<br />UNIFORM COVENANTS' BotroMerand Lender covenant and agreeasfollows: 102040
<br />1. Pa""t of 1modod MW latereaft Prepsym at WA late Cbarges, Borrower shall promptly pay when due
<br />the principal of and interest on thtdebt evidenced by the Note and any prepayment and late charges dut under the Note.
<br />2. Fun& for Taxes raga laswaace. Subject to applicable law or to s written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds-) equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument: (b) yearly
<br />eawhold payments or ground rents on the Property, if any; (c) 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 />basis of cumnt 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 b-• a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shag 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 />Lester 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 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 Fundsshowing 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 Funds held by Lender, together with the future monthly paymeres arFunds payable prior to
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />amount necessary to make up the deficient in one or more payments as required by Lender.
<br />Upon paymtnt in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If waider paragraph 19 the Property is sold or acquired by Lender. Lender shall apply. no later
<br />there iimmediateLy prior to th& si ;e of the Property or ails:: cquisiticn by Lender, any Funds held by Lender at the time of
<br />atppli tian as ac s► it against 6i sums secured by this Se�=rity Insm ument.
<br />3. ApB►f* don of Payments. Vaiks, applicab?e law prgxir, otherwise. all payments received by Lender under
<br />paragraphs 1 ". 2 shall be applied: fast, eta icatechaTM slue under the Note; second, to prepayment charges due under the
<br />Note: th)rd..o amounts payable under pars '.t to interest due: and last, to principal due.
<br />6. Chary* Liens, .Sanower shall pay ,32 Camp, assessments, charges, fines and impositions attributable to the
<br />Property whir`s may attain .W-nonty over this Security Instrument, and leasehold paymems 'or ground rents, if any.
<br />Borrower shall gaythese oblations in the manner provided in paragraph 2. or if not paid in tdrst manner, Borrower sl i- I
<br />pay them on time directly to °,.he person owed payment. Borrower shall promptly furnish to Lender all notices of amauffN
<br />to be paid under this paragrapph. If Borrower makes these payments directly. Borrower shall promptly famish to Lender
<br />receipts evidencing the paymmis.
<br />Borrower shall promptly discharge any lien which has priority over this Swirity Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable t.4 Lender; (b) contests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lenders 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 dgterminm.. 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
<br />notice identifying the lien. Borrower 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 Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against lossby fire,1'saza'rds included within the term "extended coverage" and any other hazards far which Lender
<br />requires insurance. This ins==e shall be maintai -eds in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the ins:amn, = shall be chosen by Borrower subject to Lender's; approval which shall acct; be
<br />unreasonably withheld.
<br />All insurance policies and ce .ew4—T,; shall be acceptable to Lander and shall include a standard mortgage clause.
<br />Lehr shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />a3'rteeipts of paid premiutm and renewal notices. In 054 event of loss, Borrower shall give prompt not :ie to the insurance
<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, insu rance proceeds shat; bz-« died to restoration Or repair
<br />of the Property damaged, if the resxralion or repair is economi:a'ME feasible and lem�! O'g :,esurity is not lessened. RF the
<br />restoration or repair is not feasible or Len-ler's security would be r v;.,e red, the insurance proceeds shall be
<br />applied to the sums secured Ibg.t.h:Ss Security Instrummy, whether or not fto due. with any excess paid to Borrower. If
<br />Borrower abandons the Property. car does not answer %.c :tin 3 Z aim s a notice from Lender t.:tat the insurance carrier has
<br />offered to settle a claim. then Lender mt2y.ollect the insurance prci v.ds. Lender may use the iW-,ceeds to repair or rtuorr:
<br />The Property or to pay sums secured by la.: s Security Instrument. whether or not then dui:- The 3.0 -day period will b.,kYct
<br />whin the notice is given.
<br />Unless Lender and Borrower otherwise agree v.i writing. any application of proceeds to principal sbulI not extend or
<br />7l pone the due date of the monthly payments referrer!. tai in paragraphs I and 2 or change tli.e amount of the payments. If
<br />under paragraph 19 the Property is acquired by L.endet, l rrrua- 's.right to any insurancepAicies and proceeds resulting
<br />from damage to the Property prior to the acquisition slia°si tress 5•U ader to the extent of the sums secured by this Swurity
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrow c-r •s%al I not destroy. damage or substantially
<br />changi the Property. allow the Property to deteriorate or commit waste. if this Security Instrument is on a leasehold.
<br />Borrower shall comply with the provisio_,5 of the lease, and if Borrower acquires fee title to the Property. the leasehold and
<br />fee ritte shall nor merge unlev, tender agrees to the mercer in writing.
<br />?. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the
<br />covenants and agreements contained iii this Security instrument. or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy. probate. for condemnation or to enforce laws or
<br />reaulations). then lender may doand pay for whatever is rsrcrcc.7ry to prcltect the cdlite of the Property and 1-endter crvhl%
<br />in the Property. Lender's actions may include paying any sum,5 secured by a lien «hick has priority over this Secunt%
<br />Instrument, aMea ng in court. "paying teasapable attorneys fees and entering oil the Property to make repairs_ Although
<br />Lender ma} tale adtton under this paragraph T. Lender does not ha%c to dose,
<br />An} a" unis diihurfed bi Lender under this paragraph 7 shall become additional debt of Horroiler secured by tlitc
<br />Security lnstr cts. Unless Nokow-er and Lender agree to other term; of pay ment. these amount, shall tear mterest fromi
<br />the date of &+umment at th& Nate raite and shall be payable. with interest. upon notice fnmr Lender it, Botrnv6er
<br />requesting pac ent. `
<br />ch—Xi "A is�;!- ;'ssedj by Lendt!Y in connection with 'horrower' -, unturitw. into Chl.-
<br />Secuti['- Ins_ritment to par: the cost of an i"6ependenr .r.v-' it.-porting m-rvic-e
<br />siIz,i 1 first 'Ve a chargd; for :purposes : f thi, :frvrrr�i ti :: :.r•i :tcIll L
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