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<br />UNIFORMCOVENANTS. Borrower mid Lendercovegant and agreeasfollows: 89- 102268
<br />1: Paytaest of Pritreigal Sad Iattnm4 Preltayttteat; *W Late Charges. Borrower shall promptly pay when due
<br />the principal of and inttireston the debt evidenced by the Nola and any prepayment and late charges due under the Note.
<br />L Funds for Tax" asid insa nutee. Subject to appy4ble law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day tnmlhly payments are due under tW Mote, until the Note is paid in full, a sum ( "Funds") equal to
<br />one - twelfth of: (a) yeadrJaxes and assessments which, may attain priority over this Security instrument; (b) yearly
<br />leasehold payments or grottnd rents on the Property, if any; (c) yearly hazard insurance premiums. and (d) yearly
<br />mortgage insurance pRemium . if.any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data Arid reasomble estimates offuture 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 />stlate ajency Gncluditog Lendo, if: Lender is sudtt:'an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying tWAmd& .4Wyarng the account or verifying the escrow items, unless
<br />Lender pays Borrouvi!r interest on.tlit: Fonds anil'aPPIAM ile :- VW rmkts Lender to make such a charge. Borrower and
<br />Lender may agree in writing thatlthiterest shall be pia'O" ; r-' V4-ni a Unless an agreement is rim& or applicable law
<br />requires interest to be pail, Lender shall not be required r Vic` sr ii?et: 7nten st or earning .bti the funds. Lender
<br />shall give to Borrower, without charge. an annual accounting oflle Funds sh' awing credits avid abi tai the Funds and the
<br />purpose for which each, debit to the Funds was made. The Funds a_mplr-11,ged as additional secdr. * fir the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the fm ire monthly payments of 1F6,nds.payable prior to
<br />the due dates of the escrow items, shall exceed the amount te4;Lmd tc ,)M ' ire escrow items when d rile excess steall be.
<br />at Borrower's option, either promptly repaid to Borrower ,' T.`c.redi�ted o i"a- Mrz.i�r on monthly parmxecits-of Funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay tha e'sczow ite s.w.h.ti due, Borrower l4aT f ,.1 to Lender any
<br />amount necessary to make up the deficiency in one or more paymn nts as'required by Lender. ay
<br />Upon payment in full of alb sums secured by this Seciga_' - Instrument. Lender shall promp::y'refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Prop& -ty -is sold or acquired by Lender, Lender shall apply„ no later
<br />than immediately prior to the sale of the Property or its acga� by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Im.4rument.
<br />3. Application of Payments. Unless applicable law pn-."Vides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall he applied: first. to late charges due under foe Note; second, to prepayment cha�jzs due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to irgere t due; and last, to principal due. .
<br />4. Charges; Liens. Borrower shall pay all taxes. assessments, charges, fines and imposid6m. �rtnbutable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or sound =- is, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in than L- a tier, Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Let del alily [i notices of:s-,iaounts
<br />to be paid under this paragraph. if Borrower makes these payments directly. Borrower shall pry:. furnish -tb Lmder
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over-this Security Instru—ne 2 i unless Borrower: (a)
<br />agrees in writing to the payment of the obligation scoured by the lien in a r;:,aner 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 Ler,dzfs opinion o3erate to
<br />prevent the enforcement of the lien or farfeiturc of any part of the Property; or (c) secures from r.he boluer of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detesrr ri:s than any part of
<br />:he Properly 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 vcw existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extendeoz -ai rage" and any other hnza,—ds for whit {. Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that i,:4der requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower subject to bender's app: vzJ K-:nich shall not fie
<br />unreasonably withheld.
<br />All insurance policies and renewah shall be acceptable to Lender and shat include a starndeid mortg4gr, .;.lags:.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Bo*. ower shall pros- ptly give to 1,ei-x.1 r
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower sl" %gave promrt Tre.'t0ti to the insurance
<br />carrier and Lender. Lender may make pnrofof loss if not made promptly by Borrox'�-n
<br />Unless Lender and Borrower otherwise agree sit writing, insurance proceeds sLIF be applied to restoration Or rzpaiz
<br />of the Property damaged. if the remonstiorn or repair is economically feasible and Lender's security is not les mils. it, h!
<br />restoration or repair is not economically feasthle or Lender's security would be lessened, the insurance proceeds ' c
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. QJ
<br />Borrower abandons the Property. or does not answer within .10 days a notice from Le'ndcr that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the imurance proceeds. Lender may ma sire procc=4r!. to repair or resto. e
<br />the Property or to pay sums secured by this Scctirity hnstrtunent, whether or not then diar. The 7-day period w:2 begs:
<br />when the notice is given.
<br />Unless Lenderand Borrower otherwise agree its writing, any application of proceeds roprmcir4;j, shall not exty d c:
<br />postpone the due date of the monthly paysnents referred to tit paragraph~ 1 and 2 or change tl t amoury -, c f the payments. tit
<br />under paragraph 19 the Property is acquired by Lender, Iiorrower'. right to any insurance
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the s4n-r secured
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; IAaseholds. liorrower shall not destroy, damage or substantial,y
<br />change the Property. allow the Proixrty to deteriorate or commit waste. If IN% Security insiruv -f.!:;t is on a leasehold,
<br />Borrower shall comply with the provisions of the lease. amid if Ili rro%cr acquires fee titleto the Psoperty: the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger h► writing
<br />7. Protection of Lender's Rights in the Property; Mortuage Insurance. If Borrower fails to perform the
<br />covenants and agreements contained in this-Security Instruiiment, or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding its hankruptcy, probate, for condemnation or to enforce laws or
<br />reenlations). then Lender nmy do and pay for whatcvcr i4 ticar„ary h1 rit,tect tine value of the Property and tender's rights
<br />in the Property. Lender's actions may include (raying any sums secured by is Iten which hat priority over this Security
<br />Instrument, appearing in court, paying reasonable attorneys' fees and cnierng on the Property tv make repairs. Although
<br />Lender may take action under this paragraph 7, Lender d(so not lcn a x14141 mt
<br />Any amountsdishursed by lender under this paragraph 7 shall IN:.ome additional debt of Ilorrowcr.y .•aped by this
<br />Security instrument. Unless Borrower and l.cnderagree toother terms of pa }nwnm. mhese amounh +shall h a�.;t =_serest freest
<br />the date of disbursement at the Note rate and shall he payuhre. with interim. capon notice front Lend;ar,t„ Borrcw,•,V'.
<br />requesting payment.
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