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<br />UNIFORM COVENANTS. Borrower and Lender covenant and Sam.- a =.fgilows: 142333
<br />I. Psyneat of Principal tad latetrest; Ptspraytneat and Late Charntp<„ Borrower shalt promptly pay when due
<br />the principal ofand interest on thedebt evidenced by the Nola and any prepavntgnt and late charges due under the Note.
<br />r . 2. FW* for Tixa said burn see. Subject to applicable lava or to a wrr tten waiver by Lender, Borrower shall pay
<br />to Lender on -the day monthly payments are due under the Note, until [lie NOe is paid in full, a sum ( "Funds ") equal to
<br />one- tweifth of: (a) yearly taxes and assessments which may attain _ p0cwtt}.- over this Security instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any, (c) yearll!•hazard insurance premiums; and'(d),yearly.
<br />m0rt049e insurance premiums, if any. These items are called "escrow items," Leader 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 which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender, sSiall.apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Fundy, analyzing the a=unt or verifying the escrow items, unless
<br />Lander 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 an the Funds., Unless an agreement is -made or applicable law
<br />requires interest to be paid. Lender shall not be:mquited.to pay Borwivar any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annuai'acsounfitiBof the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. Tile Rinds are pledged as additional security for the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Leader, 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 items when due, the excess shall be,
<br />at Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly paWents of Funds. If the
<br />amount of the Funds held by Lander is not-sufficient to pay the escrow: fceais when cure, Borrowers At pay to Lender any
<br />amount necessary to make-up the defieiency in: one or more ptkuments as required by Leer:
<br />Upon payment in fun afall sums secured by this Si cmdty Instrument, LerdmshsD prof ,ptiy refund to Borrower
<br />any Funds held by Lender. If under paraWVh 19 the Property is sold or acquired by L- and.e, ti=itr shall apply, no later.
<br />than immediately prior to the sale of the Irmpeary or its'acgi- sition by Leander, any Fords heM by Lender at the time of
<br />application as a credit against the sums secured by this Sec =,s} Instrument.
<br />3. Applicatioai of Psymento. Unless applicable law provides otherwise, at: payments received by Lender under
<br />paragraphs 1 and 2 shun be applied: first, to tare 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• Crarges; Lktm Borrower shall pay Of taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain• priority over th s purity Instrument, and leasehold payments oz ground rents, if any.
<br />Borrower shall pay these obligations m the mars provided in paragraph 2. or if not pa°d in that manner, Borrower shall
<br />pay than on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower m -c-im these payments directly. Borrower shall promptly furnish to Lender f
<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 lies by, or defends against enforcement of the lien is+ lep ,
<br />�- _mil proceedings which i7 rue innclt:r s opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Properly; or (c) secures from the-holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security tostrument. 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
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actians set forth above within 10 days
<br />of the giving of notice.
<br />S. 1h asrr Iawrasce. Burrower sha'I keep the improvements now existing or hereafter erected on the Property =
<br />insured against loss by fire, hazards included %;t.1"tin the term "extended coverage" and any other il.:u -xrds for which Lender
<br />requires insurance. This insurance shall be maiflained in the amounts and for the periods that 'Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unre ssoftbiy withheld. ,
<br />All insurance policies and renewals shall be accepial:le to LAWder, and shall include a standard esr:L gage clause.
<br />Lender shall have the right to hold the policies amA renewals. If Lender requires, Borrower shall prcmptZi give to Lender
<br />all receipts of paid premiums and renewal rut of :;:5. In the event of loss, Borrower shall give prompt notice to the insurance '
<br />carrier and Lender. Lender may make proof of Loss if not made promptly by Borrower.
<br />Unless Lender and Botrowerodzerr sae agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not econom caUy felmile or Lender's security wculd be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or nnC then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 36 days a notice from Lender that the insurance carrier has
<br />offered to Wile a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repai r or res,cre
<br />the Properly or to pay sums secured by this Security Instrument, Whether or not then due. The 30 -day period %Hi begirt
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any appli"ion of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs i 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 />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preaen1160ai aid Maintenance of Properly; Leawholdu. 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 shall comply with the provisions of the 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. Protection of Leader's Rights in the Property; Mortgage insurance. if Borrower fails to perform the
<br />- coven :ntsandsgre-rncnts contained isr this Security Instrument, or there is a legal proceeding that may s4nificantly affect
<br />lrs:der's rights in the Ptuperty (such as a proceeding to bankruptcy, probate. for condemnation or to enforce laws or
<br />regulations), then Lender may do and 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 du so. n
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this r�
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall beat interest from
<br />the date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower
<br />requesting payment.
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