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<br />89... 103449
<br />UNIKIRM Cbvi:NAMM Borrower and Lender covenant and agree as follows:
<br />1. Paym et of PtGNMI sad iattroW Ptraltsya mi aatt Latte Clarges. 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 />L Faris for Taxes erns Irtauirmet. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments art due under the Note, until the Notc is paid in full, a sum ("Funds ") equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument: (b) yearly
<br />IMOMld payments or ground rents out the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mott&W insurance premiums, if any. These items are called "escrow items." Lender mny estimate the Funds due on the
<br />bass of curml data and reasonable eatin ates 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 aency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Leader may not charge for holding and applying the Funds, analyzing the account or verifjring 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 pall, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shill 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 at= additional security for 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 />tfiedite dates of the escrow items, shall exceed the amount required to pay the escrow items when due. the excess shall be,
<br />aA ka towees option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. if the
<br />sa otat of tbo Funds held by Lender is not suflkient to bay the escrow items when due, Borrower shall pay to Lender any
<br />'ftmount neotstary to make up the dellciency 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 wtd or acquired by Lender. Lender shall apply. no later
<br />than immediately prior 10 ilea sale of the Property or its acquisitics'iaxy .lender. any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Ins(: ument.
<br />3. AnNaMea of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note, third, tq amounts payable under paragraph 2. fourth, to interest due: and last, to principal due.
<br />4. Charm-w Imo. Borrower shall pay alt tines. assessments. charges, fines and impositions actrrhotabte to the =
<br />Property wigck auy'stuft- priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower sibbill pi� theaie.cNigations in the manner provided in paragraph 2. or if not paid in that manner, Borrower"I
<br />pay them on.litome ibrectarto the person.owed payment. Borrower shall promptly furnish to Lender all notices of atirattats ±"
<br />to be paid under this paragraph. if Borrower nukes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidertcina the p*yphertts.
<br />Borrower shill proiptly discharge any lien which has priority over this Security !Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligatiott secured by the lien in a manner acceptable to Lender. (b) contests in good
<br />Pali", slid I" by, or % cnds against enforcement of the lien in, loll proceedings which in the sender's opinion operate to
<br />prevent the enforcement of the lien 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 may attain pn.=ty over this Security Instrument, Lender may Ove Borrower a
<br />notice identifying the lien. Borrower shall satisfy thelii or take one or more of the aetions•set forth above within 10 days
<br />elf the giving of notice.
<br />S. Hassid Ieuraaee. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by lire, hazards included within the terns "extended coverage" and any other hazards for which Lender
<br />requires insurance;. This ins 4rance shall be maintained in the amounts and for the periods that Lender 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 />All insnrance'volkies and renewals shall be acceptable to Lender and shalt include a standard mortgage clause.
<br />Derider shsll have the rule: to hold the policies and renewals. if Lender requires, Borrower shall promptly give to Lender =
<br />Akrweipts of paid premiva>as and renewal notices. I.a the event of loss. Borrower shall give prompt notice: to the insurance
<br />cscsrier and Lender. Lender may nuke proof of loss i.f stot made promptly by Borrower. ,r
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or rVair
<br />of the Property damaged. if the restoration or repair is economically feasible and Lender's security is•ttot lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened. the insurartcu proceeds shall be
<br />applied to the sums secured, by this Security Instrument, whether or not them due, with any excess paid to Borrower. If
<br />Borrower abandons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />ollered 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-d3y period will begin
<br />whtn the na>Eioe in given.
<br />Unless Lender and Borrower otherwise agree: in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the paynrersts. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />instrument immediately prior to the acquisition.
<br />6. Preservation and Maiatesaace of Property; Lemboitls. Borrower shall not destroy. damage or substantially
<br />change the Property. allow the Property to deteriorate or commit waste. if this Security Instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property. the leasehold and
<br />fee title shall not merge unless: Lender agrees to the merger in wnt tng. '
<br />7. Protection of LeoadWs RIOU is the Pro"rty; Mortpp Itatrance. If Borrower fails to perform the
<br />covenants and agreements contained in this Security instrument, or iherr is a letgrl proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding to bankruptcy. probate, for condemnation or to enforce laws or y
<br />regulations), then Lender may do and pay for whatever es necessary to protect the value of the Property and Lender' rights
<br />in the Property. Lender's actions may include paying arty ems secured by a lien which has priority r.%cr this Security
<br />Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Properly to make repairs Although
<br />Lender may take action under thn paragraph 7. Lender doer not base to do so
<br />Any amounts disbursed by Lender under ibis paragraph? shall become additional debt of Mirrimer %ccurcd by this
<br />Secunty instrument Unless lio►rrower and ltn&r agree to o1het terrns of payment. these arrtount% shall tear entereo fit --in
<br />the date of deabumement at the Note rate and +hall he payahlr. with rrrtcrem, ulwin twtwc fromi 1 cmirr to liotwNcr
<br />requeeteng payment r`
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