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<br />90- 10555:1
<br />UNIFORM COVENANI S harrower and Lender covenant and agree its follows:
<br />1. Payment of Principal and Interest; Prepayment and late Charges. Burrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and hue charger due under the Note.
<br />2. Funds (or Taxes and insurance. Subject to applicable law or to a written waiver by Lender, Borreower %hull pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a %um ("Fund% ") equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (e) yearly huturd insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. Thews items are called "escrow, items." Lender may estimate the Funds due an the
<br />basis of current data and reasonable estimates 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 Under 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. Lender
<br />shall 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 the sums secured by
<br />this Security Instrument.
<br />i 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, shall exceed the amouunt required to pay the escrow items when due, the excess shall lie,
<br />at Btmower's option, either promptly repaid to Borreswer or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held 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, no later
<br />than immediately prior to the We of the Property or its acquisition by Lender. any Funds held by Lender at the time of
<br />application as a credit against ihesums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender o..nider
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fouilh. to interest due; and hest, to principal due.
<br />4. Charges; Liens, Borrower shall pay a0l taxes, assessments, charges, tines and impositions attributable to the
<br />t Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />t Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />t pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, ti+irrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over tiai+ Security Instrument unless Burrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in gwid
<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) secures from the holder of the lien an
<br />agreewnt satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any pan of
<br />the Property is subject to a lien which may attain pra.mty over this Secunty lnstrument, Lender ma. give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or inure of Liar seasons at forth shoes within 10 days
<br />1 of the giving of notice.
<br />S. Hazard luxuriance. Borrower shall keep the imprownivnts now existing or he erected (in the Property
<br />insured against loss by fire, hazards included within the term "extended coma- .>.ge•' and any other hazards for which lender
<br />requires insurance. This insurance shall be maintained in the amounts and fear 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 insurance policies and renewals shall 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 redo:; , Borrower shall promptly give to lender
<br />all receipts of paid premiums and renewal notices. In the event of bass. B ere ix er shall give prompt notice is the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by tie�rrower.
<br />Unless Lender and Borrower otherwise agree in wasting, insurance proveeds %hall ire Applied to remoration er repair
<br />of the Property damaged, if the restoration or repair is economically feasible wind Lender'. security is a e+sen
<br />ant led. If the
<br />restoration or repair is not vonomically feasible or Lender's security %oulJ ;Wlessened, the imuran.e proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not thief* due, with any exec %% paid to Borrower If
<br />Borrower abandons the Property, or does not answer within iU days a notice from lender that the insurance :arena has
<br />offered to settle a claim, then Lender may collect the insurance pr coeds. Lender may use the prracecd% too repair rat witm ore
<br />the Froperty or tea pay sums secured by this Security Instrument, wliethei ur iio'. 'O cr. Juc the zp.day ; eri —I will begin
<br />when the notice is given.
<br />Unless Lender and Ikorrow•er other %ise agree in writing, any application of pnkcesi% to principal shall not extend or
<br />postpone the due date of the monthly payment. referred to in paragraphs I and 2 or change the amount of the pay meat. If
<br />under paragraph ly the Property is acquired by Lender. Borrower'% right to any insurance prnccies and priweeds ro ulting
<br />from damage to the Property prior to the acquisition shall pass to lender to ine extent rat the sums secured n% islet iecunty
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leawbulds. Boreo%vr %hall not de%irr+%. damage or %uh%la tit ial 1)
<br />change the Property, allow the Property to detenorate or commit %caste li' this Sek:uruy Instrument is on a Icasehold.
<br />Borrower shall comply with the pro,imon%ol'the lease, and if Hiirrrr %er A� -gwre%fee ntle to the Property. the Ieawlitnitl and
<br />fee ittle shall not merge unless Lender agrees to the merger in writing
<br />7. Protection of Lender's RlRhts in the Property; MortuaRp IaK•usance. 11' Iiorro%er fails its perform the
<br />covenantsand agreementscontamed in this Security Instrument. or there i+:: wial proceeding that ran .igniticand% adeo
<br />Lender's rights in the Property (such as a proceeding tit hankruptc�. pry imem free :oudemnation r it, enforce Laws o
<br />regulations), then Lender may do and pay for % hatever is neces%arl Oct rroteci the % alu.e of ; he Properi % and I ender'% rights
<br />in the Property. lender's actions may include paying any suim" +eceatW M a hen %% : sas pnorin oecr thrs'S,ecuror%
<br />L Instrument, appearing its court. P01119 seasonable attorneys fee%.antd en4tenni the Propctty make repair. 41ett"tigiv
<br />Lender may take action under this paragraph 7, 1 ender dote. si,•rt Last e,� +:•c e.
<br />Any amounts disbursed by I ender under this paragr.4p6r deht ref Horrrwer .c. i:rc,l : ^s rh,.
<br />Security Instrument l'nle %s Bortouct and I ender .agree t„ c ohit..t 'e ,%, i i as mcnt. sheet ,rnr,,unts.h.rll ITar •,•.r ,..i r•• ,rn
<br />the date r►f dishur.cment at the Note rite and shall he ray ei .... eith mieteo. ur. ti.c it -w I en,!, r tee. rr, -wci
<br />reyutming payment.
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