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<br />U`IFORbt COVENAMS, Borrower and Lender covenant and agree as follows: 89� �"' O `�
<br />t. Payment of Principal and Interest; Prepayment and Late Charges. 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 />2. Funds for Taxes and Insurance. Subject to applicable law or toa written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Notcjs 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 />leasehold 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 current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of whi:ra are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shaWapply the Funds to pay the escrow items.
<br />Leader may not charge for 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 LenAeF to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. 11nlis!� an agreement is made or applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any :interest q'-br imings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds sha}i�ing cre?,�ajiwrp3its to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as,addititomo scr zi,2v for the sums secured' by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender'., together with the future toonthly cffunds payable prior to
<br />the due dates of the escrow items, shall exceed tCe a =ount required to pay thei escrow itetns. w= s.due. the excess shall be, .
<br />at Borrower's option. either promptly repaid to P_tn ::er.-air credited to Borrower & ci+.pnthlypayments of Funds. If the
<br />amount of the Funds held by Lender is not r6 nsy (1a escrow ite*- when & Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency in one n.-,:e pv%%mems as required by Lender.
<br />Upon payment in full of all sums secur&tj -. this Security Instnsitim -i. Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph t='' 'eth�,e Property is sold or 4'r: 'wired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Prcae y! ,L,, k. -i; aa: tuisition by Lender, any F ands held by !Lender at the time of
<br />application as a credit against the -sums secured• b�, *Ls&cur-i iy lnstrumesit.
<br />3. Application of Payments. Unless, ag-,-iIfcabfe law p *ovides otherwise. air payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, teq tear•: kf:.arges due under the 'vote; second, to prepayment charges due under the
<br />Note; third. to amounts payable under parag,; gh 2; fourth, to interest dint; and last, to principal due.
<br />4. Charges; Liens. Bor, over shall pay all taxes, assessments. charges, fines and impositions attributable to the
<br />Property which may attain prierivi over this Security rrm:Tument. xhil leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligatiu -ac ,' ,'see manner providtd cr. paragraph 2. or if not paid in that manner, &m. -wer shall
<br />pay them on time directly to the person: c-:w- odpayment. Bo-rower shall -,promptly furnish to Lender all notirei:r': amounts
<br />to be paid under this paragraph. If Bo.m-a -cr inakes these -7�ayments dih sly, Borrower shall prc•arntly fur .t,slr .o Lende
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien whir', hers priority aver this Sem my Instrument unless Bc rower. (a)
<br />agrees in writing to the payment oftlhe-obligation secured by tY!= lien in-- manner accep-able to Lender; (b) corttsts in good
<br />faith the lien by, or defends against enforcement; K'.' tl.e lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeit-: reo r any part of the Property; or (c) secures from c holder of the lien ar
<br />agreerrttai satisfactury 4,3 Leticia subordinating the lien to this Security Instrument. If Lender Jett ^sines r hat any part of
<br />the Property is subject to a lien which may attain priorty over this Security Instrument, L.endtr may give iierrower a
<br />notice idertifying the lien. Borrower shall satisfy the lien or take on. or: mere cf I he ac-aons set `:: t t!t above v».thit, 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvemena now existing or hercaftcR zrtacted cn the Property
<br />insured against loss by fire, hazards included wt0m. the term "extended coverage-and any other !� _,,ards fez w•t ° :ch Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for r17w -^eriods that Lender ra:;uires. -The
<br />insurance carrier providing the insurance shall be chosen by Borro>rwr subject to L,• j der's approval whic'n shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals, shall be acceptable to Lender and shall include a �-t.as Card mortgage clause.
<br />Lender shall have the right to hold ifte polio :E._. rid renewals. If Lender requires. Borrower shall promptly give to lender
<br />all receipts of paid premiums and reriew•al ncd,zes. In the event of lcris, Borrower shalt give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of less if nc1 m add, promptly by Borrower.
<br />Unless. Lender and Borrower other%:se agree in w nung, iniuram; a proceeds shall be applied to restoratlu :: or repair
<br />of the Property damaged, if the restoration or repair is econornkally fca.itble and Lender's security is not lessened. if the
<br />restoration ur repair is riot economically feasilTIc or Lender's sectatity v, auld be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this: Security Instrument, eki;eth :r or not then due, with any excess paid to &iffnwer. If
<br />.Borrower abandons the Property. or does not answer within 30 days a notice from Lander that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance prineed%. Lender rnz) use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrurnertt. whetlwT or (tot then due. The 30 -day period will begin
<br />when the notice is given.
<br />Unit.N,, Lender and Borrower otherwise agree to writing, any appl,,"tunt of proceeds to principal shall not extend or
<br />postpone thedue date of the monthly payments referred to in para�zraphs 1 and 2 nr change the amount of the payments. If
<br />under paragraph 14 the Property is acquired by Lender, Borrov er's right to any insurance policies and proceeds resulting
<br />from damage to the Property poor to the acqui -sititm shall pass to Lender to t he extent of the sums secured by this SL -Vurity
<br />instrument immediately prior to the acquisition.
<br />6. Preservation and NlaintenanceotProperty; Lemho1: s. N.wrower shall not destroy. damage cirsubmantially
<br />change the Property. allow- the Property to deteriorate or commit ecatire. If this Security Instrument is r►u a icasettold,
<br />Borrower shall curnply with the provi ounsof the lease. and if Borrin.er ::.quires fee title to the Property. the leas hold and
<br />fee title shall not merge unless lender agrees to the merger in .vrittng.
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance. if Rnrrower fails to perfr.rnt the
<br />covenants and agreements contained in this Security Instrutrceno, car the: c is a legal proceeding that may ogruticantly of act
<br />Lender's rights to the Property (such a%a proceeding in barA.:uptcy. probate. for conde•ntnatson or to crtfOrce lewc or
<br />regulation; t.then Lendcrmaydoand pay forahatewr is necescan to protect the caiuc of rite i•roperry and Lender'.nchtc
<br />to the Property_ Lender's action; may include paying alt) sutra: %courant by a lien which Ila% ptmutts• oecr t1w. Sc.urtty
<br />instrument, appearing in cewtt. paying reasonable attorney F' fees and ententtg on the P'ropc•rt% to 1 make repair, Although
<br />Lender may take action under this paragraph 7, lender &An- not hate todos(,
<br />Any at*tounis &-burled by Linder under thtt paragraph 7 shalt become addttunral deter of lint c•. •ever %ccur A k tin'.
<br />Securct,. Instrwitem Uiles%Hurrimcr and i cider agree towher terrttsc,fpa�ancw. the,: asstnuntsshull host mn:rc +t fr,,n1
<br />the date of dtsbursentcrtt at the Note rate and shall he p-tvahle. with ttnetest. upon notice fr •u, 1 cede - tr lt:ur.+wu
<br />rcyuc- ,tool; pe4nsent
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