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<br />UN11-4IN M CM t N ANI i% Boiroi%er and Lender col,enant and agrcc IN fi +lists., 89— 102832
<br />1, Payment of Principal and Interest; Prepayment and late Charges. Pori+ +see shAl pi omptly tars "lien duc•
<br />the principal of and interest on ttie debt esidenced by the Note and am prepayment and late charge% du• undci the N ta•
<br />2. Funds for Taxes and Insurance. Subject trapphcahle lass , +r tr ,, s�ruten �.ancr by I rosier. Hormwcr slu►11 p;ts
<br />to Lender on the day monlhFy pay nicnt% are due under the Note, until the Note is paid in full' 'I %urn 1 "lluids "►canal to
<br />one - twelfth osf• (a) yearly taxes and ussessntent. which may anaut priority vier this Sccunty In %trunicnt: (b) yearly
<br />Itaschold payments of ground rents an the Property, if any; (c) yearly hazard Insurance premiums; and (d) yearly
<br />mortgage nmurance premiums, if any. These items are called "escrow items " Lender may estun.ue tllc Fund, duc on the
<br />basis of current data and reasonable estimates of fin ure escrow item %.
<br />The Funds shall be held in an institution the deposits or account% 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 Fund,% to pay the c%crouv 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 make such a charge. Borrower and
<br />Lender may agree in writing that interest shalt he paid on the Funds. Unless an agreement I. made or applicable law
<br />requires interest to be paid, lender shall not be required to pay Borrower tt:rty interest or earning, on the Funds. lender
<br />shall give to Borrower, without charge, an annual:uxounting of the Funds show Ing credits and debits, to Funds
<br />the and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged a% additional security for the sums secured by
<br />this Security Instrument
<br />If the amount of the Funds held by Lender, r- +.gether with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items, shall exceed the a, -:wunt required to pay the escrow Items when due, the excess .hall be,
<br />at Borrower's option, either promptly repaid to Bor vxwer or credited to Borrower on monthly payments of Funds if the
<br />amount of the Funds held by Lender is.nvt sufficient: t,* pay tltr; items when due. Bnrmwcr shall pay to Lender any
<br />amount necessary to make up the deficimz , is, ottc or, tvj. ?re pay ments as required by Lender.
<br />Upon payment in full of all strM, -a by d,',,-,s Security Instrument;, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under p tm taph, Property i%,old or acqulrud by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of tt, r: L'rip,�ert its acquisition by Lettdor, any Funds held hy'Lender at the time of
<br />application a% a credit against the sunty Sc.Cy, Y4 try t,'-t.% Security itisrrument.
<br />3. Application of Payments. Ut;le.,,�';xpf+ticable law pw:atdes other i%e. all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charg n due undt r: the Vote. second. to prepayment charges due under the
<br />Note; third, to amounts payable under paragraphs 2, 6zi.:rib, tott;teecst due; and last, to principal due.
<br />•. Charges; Liens. Borrower -.hail pay..aU G9.ces, ame-m rrents, charges. fines and impositions attributable to the
<br />Property which may attain priority- oxer this Smurtty- Instruracnt, and leasehold payments or ground retim. if an
<br />Borrower shall pay these obligations is,, Ole manner'rrk,%tdcd in paragraph 2. or if not paid in that manner. Borrower shall
<br />pay them on time directly lathe person o%ed pay lttetu. Borrower %11311 promptly furnish to Lender all notices of amounts
<br />to he paid under this paragraph. if Borrower make-, these payments Jir <tit', •. Borrower shall promptly furnish to Lender
<br />neei tsevidencin the pa) mcni%
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<br />Borrower %hall promptly discharge any hen which has priority mgr this Security instrument unless Borrower: (a)
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<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender_ (h) umt�ts in Pon
<br />faith the lien toy, or defends against enforcement of the lien in, legal proceedings which in the Lender'` opinion operate to
<br />pre%ent the enforcement of the hen or forfeiture of.any part 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,
<br />may attain rrionty user this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or takt: ene or more of the actions set forth above within 10 day%
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements do w 4- -%sling or hereafter erected on the Property
<br />insured against toss by fire, hazards included within the term "extended coscragg" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts. �a-,id, for the periods that Lender requires. The
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<br />insurance camer pro%tding the insurance shall be chosen by Borrower. htth ect to Lender's approval which shall, not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender cad shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. if Lender reyu.ires. Borrower
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<br />shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. let the went ofltoss. Bhrrwsver shall gi%e prompt notice to the insurance
<br />carrier Lender. Lender
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<br />and may snake pruof of loss of not made promptly by Borrower.
<br />Unless Lender and Borrower otiterutisragree to writing, insurance proceeds shall he applied to restoration or repair'`
<br />of the Property damaged, if the restoration or reWx-r is economically feasible and Lender's security r% not lessened. If the
<br />restoration or repair is not economically feasible a rCender's security could he,lessened, the insurance proceeds %hall be
<br />applied to the sums secured by this Security instrument. whether or not them due. with any excess paid to Borrower If
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<br />Borrower abandons the Property, or does not answer utthrn MI dius•a n'drice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance rrooecds. Lender
<br />may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security instrunterta.; .4hether or not then due. The 30-day period %ill begin
<br />when the notice is gisen.
<br />Unless Lender and Narrower others ise agree in Lsriting. any dpp;fcanon of pro veeeis to principal shall not extent} or
<br />Vi7stpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of t he pay ments. If
<br />under paragraph 19 the Property is acquired by Lender. BorrowLw••:s- right to
<br />any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to !.ender to the extent of the sumti secured by this Security
<br />Lnsirument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds, Borrower shall not destroy, damage or %uhstarittall)
<br />change the Property. allow the Property to deteriorate or commit waste. if this Security Instrument is on a leaseh4,ld.
<br />Borro %cr shall comply with the provisions of the lease. and If Borrower acquires fee title to the Property. the Ieawhold and
<br />fee tale shall not merge unless Lender agrees to the merger in w riting.
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<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance. if llorrowcr fill,- to perforii, the
<br />cotenants and agreement% contained in thi% Security instrument, or there is a legal proceeding that ma. %rgnifi,anth. affect
<br />lender's right% in the Property (such a% a proceeding rn bankruptcy. probate. for condemnation or try rnhvcc loss
<br />or
<br />regulate +n%), then Lender may do and p.ty for whate%er i%nece % %an to protect the salve of the Prop,cris and I ruder % rights
<br />to the Property Lender',, actions may include
<br />paying am cunt% secured by .► lien tishich h..% prn•rits , ,•r th,% %kmirm
<br />instrument, appearing in court, partna reason :ibis attr•rneys' Pets acid entering c•i, ,he Pr :+pert} t,• nt.►kc, rt i•.nt, :lth(u5rtil
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<br />Lender ins,: take nction under the% paragraph 7. I ender does nit hale to do so
<br />Any amounr%dishur%cd M lender under tlu%paragraph 7 %hall beconw .ut,lin. mil ,i••h; ,,, It••r n . +i r .: , „r r,i i> r 1;,.
<br />Security Instrument Utilcs% hi+rro %rr end I ender agree to„iher rr•trn %.dpayn:etn r ►,.,I:
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<br />the :L►te of ,l,shi,r%rri,ent ;!t the %t,;c raIr al)d sh.,iI tit �e%,,i+!r �t +h i-crc %t. t,, . •:t r.•
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