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<br />89-" 103087
<br />Z. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraph 1 shall be
<br />applieq: first to any Credit Life insurance Premium, then to any Accrued Intorest or Finance Charges, then to any amount that is past due.
<br />then to any current amount due and owing, with any remaining amount to your principal balance.
<br />3. Charjyss; Lists. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may
<br />attain priority over this Security Instrument, and leasehold payments or ground rents, if any Borrower shall pay these obligations on time
<br />directly to the person owed payment. Borrower shall promptly furnish to Lender receipts evloencing the payments.
<br />Borrower shall promptly discharge any lien which has prlority over this Security Instrument unless Borrower: (a) agrees in writing to the
<br />payment of the obligation secured by the gun in a manner acceptable to Lender; (b) Contests in good faith the lien by, or defends against
<br />enfrxcernent Of fire lien in, legal proceedings which In the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any
<br />part of the Property; or (c) secwn from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security
<br />Instrument. If Lender determhtes that any part d the Property is subject to a lien which may attain priority over this Security Instrument,
<br />Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within
<br />10 days of the giving of notice.
<br />4. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on tEtet Properly insured against loss by
<br />fire, hazards included within the term "extended coverage'! and any other hazards for which Lender regdireS insurance. This insurance shall
<br />be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by
<br />Borm ew Subject to Lender's approval which shall not be unreasonably withheld.
<br />Ay insurance policies and mo
<br />renewals shalt be acceptable to lender and shall include a slandard srtgage clause. Lender shall have the
<br />0910111110 ins hM. the policies and renewals. If Lender requires, Borrower shall pmmVly give to Leader all reoeVa of paid promilums and mnewai
<br />nicitioes,In"OMIG4& has. Borrow shaftrepMmpt notice to", — h" t," nascanvraredLender. Leadearmay makeproofofkus9nottnipde
<br />k0m ��� 8etri>nMer:
<br />.h ender atnd• Gwrowwer 61ha?wlse agree in writing, tinsurark^e proc;eWs Strad be applie d. io restoration or repair of the d'merty
<br />damaged.:ii the resj=lion Or r0imir is ikvA&miaally feasible and Lendeflt security is tys lessenw.. if the restoration or repati'ir is not
<br />econornlcalty teas" ail. Lender's security would be lessened, the insurance proceeds shall be applied to 4tosume secured by this Security
<br />Instrument, whettWGat riot then due, with any excess paid to Borrower. If Borrower abandons the Property; or does not answer within 30 days
<br />a notice from Lenderthat the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use
<br />the proceeds to repair or restore the Property onto pay sums secured by this Security Instrument, whether or not then due. The 30 -day period
<br />will begin when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due
<br />date of the monthly payments referred to in paragraph t or change the amount of the payments. If under paragraph 18 the Property is acquired
<br />by Lender. Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to
<br />Lender to the extent of the sums by this Security Instrument immediately prior to the acquisition.
<br />6. Preservation and Msintamnim of Property; Leaseholds. Borrower shall not destroy, damage or substantially change the
<br />Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shall comply with the
<br />provisions of the base, and if Borrower acquires fee title to the Property, the leasehold and fee title shall not merge until the Lender agrees to
<br />•. Protection of Lenddr s Rights In the Property; Mortgage Insurance, If Borrower fags to perform the covenants and agreements
<br />contained in this Security instrument, or there is a legal proceeding that may significantly affect Lender's rights In the Property (such as a
<br />proceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is
<br />necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by
<br />a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' tees and entering on the Pmperty to
<br />make repairs. Although Lender may take action under paragraph 6. Lender does not have to do so.
<br />Any amounts disbursed by Lender under paragraph 6 shall become additional debt of Borrower secured by this Security Instrument.
<br />Unless Borrower and lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note
<br />rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment.
<br />If Lender required mortgage insurance as a condition of making the loan secured by the Security Instrument, Borrower shall pay the s
<br />premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with
<br />Borrower's and Lender's written agreement or applicable law`
<br />? 7. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. party. Lender shall give Borrower
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<br />notice at the time of or prior to an inspection specifying reasonable cause for the inspection. _
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<br />S. Condemnation. The proceeds of any award or claim for damages, direct or consequential, to connection with any condemnation or
<br />other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shalt be paid to Lender.
<br />In the event of a total tatting of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or
<br />not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in
<br />writing. the sums secured by this Security instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a)
<br />the total amount of the sums secured immediately before, the taking, divided by (b) the fair market value of the Property immediately before
<br />the taking. Any balance Shan be paid to Borrower.
<br />If the Property is abandoned by Borrower, or it, after notice by lender to Borrower that the condemnor offers to make an award or settle a
<br />claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and
<br />apply the proceeds. at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or
<br />not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due
<br />date of the more tl - payments referred to in paragraph 1 or change the amount of such payments. i
<br />lllbrrawsr'W, Released; Forbearance vLender Not a Waiver. Extension of the time for paym. ehtor madiFication of amorlization !
<br />tslfllte Sttuar�s s +;ctycf by this Sec qo Instrument granted by bender to any successor in Irnerest of Borst gr Sha;c notrsr,.larate to release the
<br />i ability of the origr^44.Borrr v u�rr Borrower's �,iicc•essors fr. interest. Lender shall n6t -!tee Required to commence procaed,ngs ar 'net any i
<br />• successor in intent ST Gf cefusei 4o extend time f6x payment or otherwise modiN amortization of the sums cecured by this Security instrument
<br />by reason of any der-and made by the original Borrower or Borrower's successors in interest Any forbearance by Lender in OXwoysing any
<br />not or remedy shall not be a waiver of or preclude the f
<br />. p e o any right or remedy.
<br />10. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this Security
<br />Instrument chall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 16 Borrowers
<br />Covenants and agreements shall be joint and Geveral. Any Borrower who co- shins this Security Iristfurnont but itoe . not VXCICUiP the Note
<br />is co-signing 0111, Security Instrument only to mortgage. grant and convoy that Bet rower s interest to tho Prol)etty under the tettins of tits
<br />,%ovutify Instrument?• rral is not pofwnany obligated to pay tho Gufn s SEGUred by this Security insuiir not it (tnrf it., ;iq!r ,• , it, it t e.n('.e! ar;,t ,ill y
<br />t>!hor borfower may agr o to extend. nasdtfy, forW ar of make any fart irifnaodationg wilh rr,(I,ifd to ttv, terrrn•, (,! Ihr. `.e a „nly 1,+1.1, t nnr,tr' . fill
<br />N',!u Withr ul that lRorr( wors consont
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