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<br />Utiltttlt%10isi%A%I% Burrower and 1. endercokenantandat ;rceastiolinws. 89-`"� 102999
<br />I. Payment of Principal and Interest; Prepayment and late Charges. Bornmer shall promlAh p.a% %%lien duc
<br />tite principal oaf and interest on the debt evidenced by the Now and any prepay meal and talc charge% duc ►n►der the Note
<br />E. Funds for Taxes And Insurance, Sub►ect to applicable law or to it %%ntteia waiver b% 1 ender. Ilm rimer shall pay
<br />to Leader tin the day monthly payments are due under file Note, unit the Note i% paid ui full, a %uni ("Fund:') equal to
<br />o►te- twelfth of ta) yearly tate-, and asse%sment-, which nuty attain priority over this Security Insir►uncnt: (h) yearly
<br />leasehold payments or ground rents on the Property, if any; tc) yearly hazard insurance premiums; and (d) )earl%
<br />mortgage insurancc premiums, if tiny. 'These item% arc called "escrow items." Lender may c %limatc the Fund% title till the
<br />basis of current data and reasonable estimates of fiiture escrow item,,.
<br />The Funds shall be held in an institution the deposit% or accounts of which are insured or guaranteed M a federal or
<br />state agency (including Lender if Lender is %uch an institution). Lender -.hall apply the Fund-- to paii. the thcrow ilcnis.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the c -,crow• 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 be paid tin the Funds. Ltnlcv% an agreement is made or applicable law
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings tin the FwAs. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Fund% showing credit% and debit% to the Rinds and the
<br />purpose for which each debit to the Fund% was made. The Funds are pledged a% additional security fir the sums secured by
<br />this Security instrument.
<br />If the amount of the Funds held by Lender. together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items, %hall exceed the Sri mtro irequired to pay the escrow items when due, the excess shall tae,
<br />at Borrower'-, option, either promptly repaid? to Ws rnt%ver or credited to Borrower on monthly i+:cyments of Funds. If the
<br />amount of the Funds held by Lender is not s,ai¢lriwrcxni to pay the escrow item% when due, Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency in veilr or more payments as required by Lender.
<br />Upon payment in full of all sums %ecured by this Smurity Instrument, Lender %hall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall, apply. no later
<br />than immediately prior to the sale of the Property or its acqui%ition by Lender. an%. Fiends held by Lender at the time O
<br />application as a credit against the sum% secured by t his Security Instrument.
<br />3. Application of Payments. Unless applicable law provide, otherwise. all payments rovi%ed by Lender under
<br />paragraphs 1 and 2 shall be applied. first, to late charges due under the Note; second, to prepayment chargvN due tinder the
<br />Note; third. to amounts payable undez paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Charts; ]Liens. Born --wer shall pay all tai n, assessments, 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 />Borrower shall pay these obligation% in the manner piomded in paragraph 2, or if not paid in that manner. Borrower shall
<br />pay them on time directly to the person owed pai,ment. Borrower %hall promptly furnish to Lend r all notice%of amounts
<br />to be paid under this paragraph. If Borrower makes i.jkc�e/payment %directly. Mirrovver shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shalt promptly discharge an$ 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 goad
<br />faith the lien by, or defends aga>;nst enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the hers or forfeiture of any part of the Property: or (cD secures from the holder of the lien an
<br />agreement satisfactory to Lender Nubordinating the lien to this Security instrument. if Lender determines that any part of
<br />the Property is %object to a lien which may attain prionty over this Security Instrument. Lender may give Borrower a
<br />notice identifying the lien. Borrower shall %44y.-ithe lien or take one or more of the actions set 6otrh above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. M rzrow•er shall keep the improvement% now existing or hereafter erected c%n the Property
<br />insured t ainst loss by fire, hazards included within the term "extended coverage" and any other harards for wfeich Lender
<br />requires 4nsurance.'Tlu% insurance shall be maintained in the amounts and fir the periods that Lender esquire%. The
<br />insurance carnet'pritmding the insurance shall be chosen by Borrower subject to Lender's approval whtch-iliall not be
<br />unreaseuably wit.hheW.
<br />Asl insurance policies and renewals shall be acceptable to Lender and shall Include a standard mortgage clause.
<br />Ct�a e Shall have the right to hold the policies and renewal%. If Lender require%. Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower %hall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof cif toss 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 nt%toration or repair is economically feasible and Lender'% security is not Ics-s_�d
<br />� . If c6t ;
<br />restoration or repair is not ecorto-nically fusible or Lender's security would be lesseaed. the insurance proo��x shale be
<br />applied to; the sums secured by this Security, • istrument, whether or not then due. uith any excess paid to M3rnzwer. 7
<br />Borrower abandons the Property. or does tt:.�j `ar] tii.er .within 30 days a notice from Lender that r,L're insurance carrier leas • .
<br />offered to s:ttle a cla ;err, then Lender may co)I -u! dit Insurance proceeds. Lender may use the -, 3s to repair or resior✓
<br />the Property or to pay sums sci i.red by this Security In,,trument, whether or not dufc : due.. t' k:i rut -day peri. will begin
<br />when the notice is given.
<br />-1bless Lender and Borr»uer otherwise agree in writing. any application of prncc-id% to .i:i_n'zipal shall not extend or
<br />postpone the due date, of the utiurithiy payrnent.s referred to in paragraphs 1 and 2 or change the anica.int of the payment%. if
<br />under paragraph l�th.c Propertyiisacquir dqt iy lender. Borrower's right to any insurance pot +-,t and proceeds resulting
<br />from.damage to the Property prier m the ac4ui%ition shall pass to Lender to the extent of the sumo secured by this Security
<br />Iwo ruwnt immediately prior tc'i -iht- %requisition.
<br />6, Preservation and Ntai4�nance of Property; Leaseholds. Borrower %hail not de%troy, dacnag:e er tiuhstatittill)
<br />change the Property, allow the Property to•deteriorate or commit waste. If this Secant} in.sti-litiker'i' s on a leasehold.
<br />Borrower shall comply with the provisions oftho: lease, and if Borrower acquires fee title to theVroherty. the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger an writing.
<br />7. Protection of Ixnders Rights in the Property; Mortgage Insurance. If borrower fail% to perli
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