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<br />89-0 102551
<br />UNIFORA! COVEN 4N is Borrower and Lender cotenant and agree as follows
<br />1. Payment of Principal and interest; Prepayment and late Charges. Borrower shall promptly pa% w licit title
<br />the principal ofand interest on the debt et idcnced by the Nate a nd any prepayment and late charge,. due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written wager by Lender. Borrower shall pay
<br />to Lender on the day monthly payment% ttre due under the Note, until the Note is paid in full, a sum ("Fund,.") 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 />bastsof current data and reasonable estimatesof futureescrow 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 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 />Lender pays Borrower interest on the Funds and applicable law permits Lender to atake 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 earinags on the Funds. Lender
<br />shall give to Borrower. without charge. an annual accounting of the Funds showing credits and deNts to the Funds and the
<br />purpose fox which each debit to the Funds was made. The Funds are pledged as addatum, ;rl security for the sums secured by
<br />this Secumizy- $ nstrument.
<br />If t4: amount of the Funds hod by Lender. togetheir with the future monchay� payments of Funds payable prior to
<br />The due dit::es of the �%,LvNw items, shall excvcd ike amouRA V juircd to pay 1Jte escrow iWsris when dla c. the excess shall be.
<br />at BornTwa:;'s opliev", rtalha protnp k%- repasd~ i :o Wirrtower oz o;teditcd tm ..napnthly payments of Fu.trds. If the
<br />amoutr.Q OW 11ii;ue Fond-- in rl%ti: isk 1 <ert er is riot sul� .m.3 ter Lux Y ul�a grow awais -alien. d wo, &srrower shall pay to IL=%ler any
<br />amt=4.r,.ua•,x ssAry.to ragac up thc(M!&*VWc ink Ire-ar siyo-Tb PlY. ;was as u—Nu W Ibp; ll.ra��er.
<br />'m payrn6t nee furl, of ami'sim's.wcur:we 11, . Ilk'%Se�nrr�ty Itetitcu�r,��t:., Lettdez ,-A4r rp.-, : Pd.% refetnti: ttJ, fforrowe)T
<br />4ny Funds held by; li�jerc r. If.uu r, pacal Wh, u,4;rthi Ian *p td is sord.or. ai,gml _dIt•;, U&7&r. IL,;Mr�;r.� Ijya11 apply, no later,
<br />than immediately ptir�t* to the y:rlt~ tin( the FMa{�r;t Ch or; ii;. .yuisition by Lender. a;rxy. t am$s Itltld,,hy G:ttdtir at the time of
<br />rappiicattnarz asaeredit against the- Wnssecuredih_ct6is51.wunry Instrument.
<br />Application of Payments. Unless applicable taw provides otherwise, all payments ro vived by Lender under
<br />paragraphs I and 2 shall be applied: first. to late 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. Charges; (dens. Borrower shall pay all taxes, asse,.amenis, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Ilnrrower shall pay these obligations in the manner prmtded in paragraph 2, or if not paid in that manner. Borrower shall
<br />pay them on time directly to the Vermin towed payment Horrower shall prompt IV furnish to 1- cirder all nohcch of amounts
<br />to be paid under this paragraph If Horrower makes those payments directly, liorro,uer shall promptly furnish to Lender
<br />receipts evidencing the payment%
<br />Borrower shall promptly discharge any Ines which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the hen in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends against enforcement of the lien in. legal prnceedtngs which in the Lender's opinion operate to
<br />prevent the enforcement of the tien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />aitreement satisfactont to Lender subordinating the 1..n to this Security Instruirtent. if fender dewourics that arty t'wi't bf
<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 Harrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving rf notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements slaw existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended cmcrage" and any other hazards for which Lender
<br />requires insurance. This insurance shall he maintained in the amounts and for the pirtods that Lender requires. The
<br />insurance carrier providing the insurance %hall he chosen by &orrower subject to Leader's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shaO tee acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, &irrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of lass if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair i,. economically feasible and Lender's security is not lessened. if the
<br />restoration or repair its not economically feasible or Lender's securty would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property. or does not answer within 10 day% a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of priueeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or charigc the ;.motdnt »`Ihess::,s7ararts. 3f
<br />under pa:..graph t9 the Property t,. acquired bw [_ ender, Horrorof `, r iglu to any insurance Policies and proceed% resulting
<br />from damage to the Property prior to the at* Isition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acqutu:ian.
<br />6. Preservation and Nfaintenance'.?1 Pro_berty; Leaseholds. Borrower shall n,tt desire y. damage or subsianhaily
<br />change the Property. allow the Property to deteriorate or commit waste. If this Security instrument is on a leasehold,
<br />Botro%cr shall comply with the provisions of the leak. and if Borrower acquires fee title to the Property. the leasehold and
<br />fee tale shall not merge unless Lender agrees to the merger in writing.
<br />7. Protections of Leader's Rights in itte Property; Mortgage Insurance. if Borrower fails to perform they
<br />covenants and agreements contai reel pr, this Security Instrument, or there is a lelta; praocceding that may stgniftcantly affect
<br />Lender s. rights in the Property (sci; lv ps a ,proceeding in bzaktuptcy. probate. ftf.r cm den ;ri ttton cat. to e:- dbrtcr law. (->>
<br />regutbi icooO. then Lender may dar:ntsitpay fjr%liatever isneeessary to protect the ,.alueofthrPcz)perty�tnd Lender's rights
<br />in the P"rnperiy Len-&W% actions may utcludepaying any sum,. ,.ccurrxR a hen %hgc'h has. pr1Nrrty over this Security
<br />Instrument, appeavu,,g in court, paying reavm..a la2c attorneys' fees and tmttntig on ,lic 1'r l:,: sec ta, makc repairs Altliougi-a
<br />(.ender may take actinti under this paragraph - 1 ender does not have to do u,
<br />Any ar•iounts disbursed by (.ender under this paragraph 7 shall hecomc add7tn )nA .1ch1 of lior ro%wCr .r4:ZnC1j by the,.
<br />`itcutaty livorurneni Unle:,. Borrower and I ender ai;rcr to uthcr terror of pawnent. tress: arnr,tj -.v .ha11 hoar rnre.re.t from
<br />the diste of di ,.hurwiticril at the time talc acid shall he payable. Hnh intcle%1. upon notice ''c rn !eraser ;,, li„rfo%%vi
<br />requcfttrtg payment
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