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<br />UNlPO1tM COVENANTS. Borrower and Lender covenant and agree as follaws:
<br />1. P&ytaat of PrIselpal W Intawt; Prt*tmy mt W Late Clargss. Borrower shall promptly ray 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. Fwmk for Taxes aril Ineu sm. Subject to applicable law or tots written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due undtr the Note, until the Note is paid in full. a sum ( "Funds ") equal to
<br />on= -twelfth of: (a) yearly taxes and assessments which may attain priority aver this Security instrument, (b) yearly
<br />kaxbDM payments or ground reacts on the Pruperiy, If any; (c) y:rrly hamrd inslltAnce premiums. and (d) yearly
<br />mortgage insurance premium% if any. These item are called "escrow items." Lender may estimate the Funds due on 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 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 lie 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 die Funds was made. The Funds are pledged as 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 />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall 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 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 alt sutras 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 sale of the Property or its acquisition by Lender, any Funds helri by Lender at the tins. of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Applicatias Of Payments. Unless applicable law provides otherwise, all payments received by Leader under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges d:iu. under the
<br />Note; third, to amounts payable under paragraph 2, fourth, to interest due; and last, to principal due.
<br />4. (,barges; Liens. Borrower shall pay all taxes, 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 ary..
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner. Btarrawer shat?.
<br />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, Samower shall promptly fnutlxisl� t9 Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly disdhizye any lien which has prprity over this Security InsraDAvoa:t unless Borrower: tai'
<br />agrees in writing to the payment of the obligation secuted by the lien in a manner ac =ptabre t:,a 1Jwd&x ( i1T contests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings Al2 ch iet tit; iL.�d'cs'x% 1a& 1 operate to
<br />prevent the enforcement of the lien or forfeiture of at* part of the Property; of 6O s rq,,go gain the hoUer -of the lien an
<br />am:rt satsfae *_ory to ?.ender subordinating the hen to this Security Instrument. 1f Lender determines that any part of
<br />the Property is subject to a lien which may attain priority over this Security Instrument, tender may give Duriuwer a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insuirma shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals <u The acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the goLz ss .s�.d mnewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renimr-D.c es. in the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make p jl%. - OT 5m 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 restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not thee` !.ue, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice fmm Lender that the insur=e carrier has
<br />offered 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-day period will bet .
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree ua writing. Dreg: applicadom, of proceeds to principal sha-11 not extend or
<br />postpone the due date of the he monthly payments reCarre t to in parxgmphs 1 acre?' 2 or change the amount off-he payments. If
<br />under paragraph 19 the Property is al.cgWred by Leader, Bc7r6%eei. tight to any insurance policies and proceeds resulting
<br />from damage to the Property pri,. c,i,, di:eacquisition shall pass.co Lender to the extent of the sums secured by this Security
<br />Instrument immediately: prior w 11m. si7quaFktiox.
<br />6. PreservvidAn mrsi Ltl MUM-0 MMe of ri°rr IXrty; Leasehol'd's. Borrower shall not destroy. damage or substantially
<br />change the Property, ;rJlow The i Mrerri W det:Mrate ar commit waste. If this Security dnsirumerit i4 an a leasehold,
<br />Borrower shall comply with the pr'ov siorrs of the lease. and if Borrower acquires fee title to the Property, the leasehold and
<br />fee title shall not merge unless Lendengrrees to the merger in writing.
<br />7. Protection of Lender's >i ghts in the Property; Mortgage Insurance. if Borrower fails to perform_ the
<br />covenants and agreements contained in this Security instrument. or there is a legal proceeding that may significantly aiivvt
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate. for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and: l ender's rights
<br />in the Property. Lenders actions may include paying any sums secured by a lien which has priority over this Security
<br />Instrument, appearing in court, paying reasonable attorneys fees and entering on the Property to matte repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower
<br />requesting payment.
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<br />UNlPO1tM COVENANTS. Borrower and Lender covenant and agree as follaws:
<br />1. P&ytaat of PrIselpal W Intawt; Prt*tmy mt W Late Clargss. Borrower shall promptly ray 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. Fwmk for Taxes aril Ineu sm. Subject to applicable law or tots written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due undtr the Note, until the Note is paid in full. a sum ( "Funds ") equal to
<br />on= -twelfth of: (a) yearly taxes and assessments which may attain priority aver this Security instrument, (b) yearly
<br />kaxbDM payments or ground reacts on the Pruperiy, If any; (c) y:rrly hamrd inslltAnce premiums. and (d) yearly
<br />mortgage insurance premium% if any. These item are called "escrow items." Lender may estimate the Funds due on 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 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 lie 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 die Funds was made. The Funds are pledged as 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 />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall 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 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 alt sutras 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 sale of the Property or its acquisition by Lender, any Funds helri by Lender at the tins. of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Applicatias Of Payments. Unless applicable law provides otherwise, all payments received by Leader under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges d:iu. under the
<br />Note; third, to amounts payable under paragraph 2, fourth, to interest due; and last, to principal due.
<br />4. (,barges; Liens. Borrower shall pay all taxes, 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 ary..
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner. Btarrawer shat?.
<br />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, Samower shall promptly fnutlxisl� t9 Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly disdhizye any lien which has prprity over this Security InsraDAvoa:t unless Borrower: tai'
<br />agrees in writing to the payment of the obligation secuted by the lien in a manner ac =ptabre t:,a 1Jwd&x ( i1T contests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings Al2 ch iet tit; iL.�d'cs'x% 1a& 1 operate to
<br />prevent the enforcement of the lien or forfeiture of at* part of the Property; of 6O s rq,,go gain the hoUer -of the lien an
<br />am:rt satsfae *_ory to ?.ender subordinating the hen to this Security Instrument. 1f Lender determines that any part of
<br />the Property is subject to a lien which may attain priority over this Security Instrument, tender may give Duriuwer a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insuirma shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals <u The acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the goLz ss .s�.d mnewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renimr-D.c es. in the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make p jl%. - OT 5m 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 restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not thee` !.ue, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice fmm Lender that the insur=e carrier has
<br />offered 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-day period will bet .
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree ua writing. Dreg: applicadom, of proceeds to principal sha-11 not extend or
<br />postpone the due date of the he monthly payments reCarre t to in parxgmphs 1 acre?' 2 or change the amount off-he payments. If
<br />under paragraph 19 the Property is al.cgWred by Leader, Bc7r6%eei. tight to any insurance policies and proceeds resulting
<br />from damage to the Property pri,. c,i,, di:eacquisition shall pass.co Lender to the extent of the sums secured by this Security
<br />Instrument immediately: prior w 11m. si7quaFktiox.
<br />6. PreservvidAn mrsi Ltl MUM-0 MMe of ri°rr IXrty; Leasehol'd's. Borrower shall not destroy. damage or substantially
<br />change the Property, ;rJlow The i Mrerri W det:Mrate ar commit waste. If this Security dnsirumerit i4 an a leasehold,
<br />Borrower shall comply with the pr'ov siorrs of the lease. and if Borrower acquires fee title to the Property, the leasehold and
<br />fee title shall not merge unless Lendengrrees to the merger in writing.
<br />7. Protection of Lender's >i ghts in the Property; Mortgage Insurance. if Borrower fails to perform_ the
<br />covenants and agreements contained in this Security instrument. or there is a legal proceeding that may significantly aiivvt
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate. for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and: l ender's rights
<br />in the Property. Lenders actions may include paying any sums secured by a lien which has priority over this Security
<br />Instrument, appearing in court, paying reasonable attorneys fees and entering on the Property to matte repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower
<br />requesting payment.
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