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<br />UNIPORM COVBNANT9 Borrower and Lender covenant and agree as follows: 90-- 1 Q 52 8 V
<br />1. Paystast of Prlaelps) OW latotrostl Prepayatest and Late Clargea. Borrower shall promptly pay when due
<br />The principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Ruda for Tanta sad Imearattee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Larder on the day monthly payments are due under the Note. until the Note is paid in fill, a sum ( "Funds ") equal to
<br />onrtwelfth of: (a) yearly taxes and aneuments 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 />basis of current dots and reasonable atimates 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 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 make 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 earnings on the Funds. Leader
<br />&Wl give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for tine sums secured by
<br />"Security Instrument.
<br />If rite amount of the Funds held by Lender, together with the future monthly payments of FwWls payable prim to
<br />the due data of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess ahafl be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds heW by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument. Lender shall 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, uo later
<br />than immediately prior to the sale of the Property or its acquisivion by Lender, any Funds held by Lers&r at the time of
<br />application as a credit against the sums secured by WA Security Instrument.
<br />3.
<br />Application of Paytesenta. Unless applicable late F -sue otherwise. all pa }mint% received by Lender under
<br />paragraphs 1 and 2 shall be applied: front, ito late Charges due undo:: ':'he Note; second, to prepayment charges due under the
<br />!Vote; third, to amounts payable under paragraph 2: fourth. to interest due; and last, to principal due.
<br />4. Cb&rgss; likes. Borrower shall pay all ;.aes, 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 shell pay these obligations in She manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay than on time directly to the pefson awed payment. Borrower +hall promptly furnish to Lender all notices of amounts
<br />! to be paid under this paragraph. If hmp-•wer makes these payments directly. Borrower shall promptly furnish to Lender
<br />mceiptsevidowing the paym eats.
<br />goriawer shall promptly discharge any lien which has pnonty over this Security Instrument unless Borrower: (a)
<br />-agta -ves in Writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secure% firom the holder of the lien an
<br />agreement satisfactory to Leader subordinating the lien to this Security Instrument. If Lender determons, that any pan of
<br />the Property a subject to a 'lien which may attain pnonty over this Security Instrument. Lender may give Borrower a
<br />notice identifyiae the (tea. Worrower shall satisfy the iien or take one or more of the actions set forth above within 10 days
<br />of the giving of ^mice.
<br />L Ilrsaoa 4 Itstarasoe. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured againsi lots by fire, hazards included within th. term "extesidod coverage" and any twiner hazards for which Lender
<br />requires insurance. This insurance shall be mainuaained in the amounts and .tor the periods that Under requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />d All insurance policies and retietwid s ,40all be 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 Lander
<br />all receipts of paid premiums and renewal murices to the event of lops %. Borrower %hall give prompt notice to the insurance
<br />carrier and Laidin. Lender may make proof of loss if not made promptly by Doirruwer.
<br />Unkatr W*nder and Borrower otherwise agree in writing, insurance proceeds shall tK applied to restoration tar repair
<br />of the Property. ginned, if the restoration or repair is econotate -ally femilile and I ender'{ security i% not Ics%ene%d. if the
<br />restoration or repair is not economitzili-g feasible or Lender's security would he lesseneu. +ne insurance proceeds shag# be
<br />applied to the sums secured by this So urity Instrtuer-writ, whether ur not then .clue, wtoh anv excm paid to Borrower. If
<br />Borrower abandons the Property, %w 4o is not ari%%-e: within JO days a notice , rm tender that the omurance carrier hat
<br />offered to i 44k a claim, then Lender may collect the insurance proceeds. Lender ilea) aw proceeds to repair or Mlore
<br />The Properh• c +. zo pay sums sMuratt bi, ibis Smunty Instrument, whether or not then due The —day period ar14 twlin
<br />*ben the nvtrt,%r n given.
<br />Unless Lender and Borrower otherwise agree in writing, my AppiwatMm of prtwee%ds to principal %hall not extend or
<br />1 postpone the due date of the mmilily payment% referred to in paragraphs 1 Arid 2 or change the amount ,k the payments. If
<br />i under paragraph 19 the Property a acquired by Lender, Borrower "% right it, anv insurance policies and oruceeds rewhtne
<br />from daasage W the Properly prior to the acquisition sfwll pass to Lender to the extent out the %ums secured by thew Sai4nty
<br />Instrument immediately ipnor to the acquisition.
<br />6. Preserved" sad Malatesance of pie" 1y; Leaseholds. Mirrower %hall not destrt+y, damage ur substantially
<br />change the Property. allow the Property to deteriorate or commit waste If thi% Security Instrument n in a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if lkirrov►er acqutres fee title to the Property, the leasehold and
<br />fee title shall tot merge unless Leader agrees to the merger in writing
<br />7. I'ttott+ctlos of lasuitWN nights is the Property; Mortgage Insurance. If Borrower faih to perform the
<br />covenants and agreements contained in this Security Instrument, or there n a legal pr4wecding that may %ign►ficantIV affect
<br />Lender's rights in the Property (such as a prokevding in bankruptcy, probate, for condemnation or to enforce law% or
<br />regulations), then Lender may do and pay for whate%er n nive%ut) to protect the value of the Property and l.cndcr'% right%
<br />in the Property. Lender's actions may include paying any sums 4e<ured by a lien which ha% pnonty o%ci IN% St•curih
<br />L Instrument, appearing in court, paying reasonrhk auoKiityi►' fee% and entering an the Property tna ►c repntr% Although
<br />Lender may take action under this paragraph 7. Lender does not he%e to do so
<br />Any amounts disbursed by Lender under the% paragraph 7 shall twcome additional dehi ul Non i%mvt Kc ured h% the%
<br />Sc+cunty Insttutnenl Unless borrower and I coder Agree it, tither tern►. of pi%mcnt. the%c Auwuot. %hAtl twat uiiete%i from
<br />She date of di►buiscinent at the Noic into end shall he pgamc. with mien.#, tipon m-nit* mart I ender it, lit+rrower
<br />requirmi ng Itsyment.
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