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<br />UNIFORM COVENAVIS Borrower and Lender covenant and agree as follows.
<br />I. Payttgent of Principal and Interest: Prepayment and Late Chat., Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepaynUnt,and late charges due under.the Note.
<br />. 2. Funds for Taxes and Insurance. Subject to applicable law or to a women waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the !+late is paid in full. a sum t "Funds ") equal to
<br />one- tweAfth of: (a) yearly taxes and assessments which may attain priopetty over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (a) yearly hazard insurance premiums; and. (d) yearly
<br />moripge insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of torrent 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 tor pay the escrow items.
<br />Lender may not charge for holding and applying the Funds. analyzipgrthe account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law Ironriic Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid en the Fonds. Unless an agreement is made or applicable law
<br />requires interest to be paid. Lender shall not be required to pay Burra''Wer any interest or earnings on the Funds. Lrnnder
<br />shall give to Borrower, without charge, an annual accounting of the Furifsshowing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Fund.Cr ara.ple4-ed as additional security for the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, tegetbrr with � the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items,. .hall exceed the amount. r�ir, .-dtc'r, r"ay the escrow ittems when due, the excess shall be,
<br />at Borrower's option, either promptly repaid tea Bvrrawer era:tniEw tt.,& Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not suifikot tie pAi v the'esar, 4rns when due. Borrower shall pay to Lender any
<br />amount necessary to makeup the deficiency in one or mnrP Fµ4try nts as required by Lender.
<br />Upon payment in full of all sums secured by this Sr�cin.`~:y Lnsirument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Frolsrrt ,t seld or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Property rr its.,zcga: FF; Pian by Lender, any Funds held by Lender at the time of
<br />application as credit against the sums secured. by this 5ccur i , ur-rrnt.
<br />& Application of Payments. Unless apphrable liar. cvides otherwise, all payments rw -_sed bi Lender under
<br />paragraphs I and 2 shall he applied: first, to late charges due t - r Oc Note; second, to prepaymea,-,:::�.arges dce under the
<br />Note; third, to amounts payable under paragraph 1: feur".ft, oar =_rre€t due; and last, to principal der
<br />4. Charges; Liens. Borrower shall pny all taws, asse<s:;zmii., -z arses, fines and imposhEm s attritn-table to the
<br />Property which may attain priority, over thi,% Security InstrumenL.a_ -d leasehold payments or ground rents. if any.
<br />Borrower shall pay these obligations in the manner praeided in paragraph 2, or if not paid in that manner. Narrower shall
<br />pay them on time directly to the person owed payment' Bcrruwer shall promptly furnish to Leader all not:aes rsr amounts
<br />to be paid under this paragraph. If Borrower make these Rea -. tents directly, Borrower shall promptly furl ,sh to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lit:mwbich has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the abligptian.secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by. or defends agaitir;t enfurcemrmhof;the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any v= 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 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 shall1catisfy 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. 11,2rrower shall keep the iingrovements now existang or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the ter:., "extended caverage" and any other hazards for which Lender
<br />requires insurance. 7'tz:s insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier pro,..fing the insurance shall lee chosen by. Borrower subject to Under's approval which shall not be
<br />unreasonably withheld
<br />AD insurance policies and renewals shalt 6e a cceptable to Lender and shale inc ?ude a standard mortgage clause.
<br />Lender shall have the right to hold the policies w: ,a errs�r.:a�. If Lender requires, Borrawer,0*a 4lu1.nmptly gi•.e to Lender
<br />all receipts of paid premiums and renewal nQt!rt:x_M . is tltr vs ent of loss, Borrower s1:a : give prrm—, ;t; notice to the insurance
<br />carrier and Lender. Lender may make proof cf h. %is ;: not made promptly by Borrbwev.
<br />Unless Lender and Borrower otherwise agree in writ.: mod, insurance proceeds si a:l be applied to rector a, �cn or repair
<br />of the Property damaged, if the restoration or repair is ecc,fr 7ically feasible ar:d L.erder's security is not leiwr.ed. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance procotds shall be
<br />applied to the sums secured by this Security Instrument, whether or -noc then due. with any exress paid to Borrower. If
<br />Borrower abandons the Property, or does nct ar_iswer within 30 days a notice from Lender that the insurance carrier has
<br />offered to Bettie a cla�.`J, then Lender may coliiA:a i tie insurance proceeds. Lender may use the proceeds to repair or restore
<br />tfr or to pay sums secured by this Se: ;city Ins,1ml. Pent, whether or net than due. The 30-day penod will begin
<br />*hen tike ni;tice is given.
<br />Unless Lender and Borrc A,:r otaerw iw. aL, ee in wnung, any application of proceeds to principal shall not extend or
<br />postpone the due date of the montti:y paymeur+• referred to in paragraphs t and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Ikirrower's right to any ins- iicance policies and proceeds resulting
<br />from damage to the Property price to the acquisition shall pass to Lender to the eximit of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Properly; Leaseholds. Borrower shall not destroy, damage or substantially
<br />change the Property, .0low the Property to deteriorate nr commit waste. If this Security Instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Horrower acqutres 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 Lender's Rights in the Pcotwtiy; Mortgage insurance. . 1i ,I;itrrower falls to perform the
<br />covenants and agreements contained in this, Sinut°ty la- z4ro-,u•nt, or there is a legal pn r.:rd rg that may significantly affect
<br />l_,ender's rights !n the. Property fruch a, a• , ian:c �ding,rri banl;raptiy; pw.tvaite. €or condernnation or to enforce laws or
<br />regulations), then lender may do and pay for whatever o. necessary to pp,+!ct 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 hats priority over this Security
<br />Instrument, appearing in court, paying reasonable attomeys' fees and enternig nn the Property to make repairs. Although
<br />Lender may take action under thi% paralttaph 7.1 ender does not have to do sa
<br />Any amouriv. d �huried by Lender under this p at.igraph' shall becnmc additional debt of Borrower secured by this
<br />Security lnstrutrient f titles, Bnrrr•uer and I ender agree to ether terns% of payment, these dmnunts shall hear interest from
<br />the date of dithutsernr•ai at the %( -tc rate :iuui Shall he hasv,ihl.. �;i� ;,ter .r. ;•:a: ;:c,tice frnm !.ender tea► Borrower
<br />requesting p,iyi;�ent
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<br />11 44k
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