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<br />89-- 104724
<br />UHtI MM COVENAMM Borrower and Lender covenant and agree as follows:
<br />the L o the evidenced Noted to Borrower shall promptly pay when due
<br />principal y y prepayment and latechuges due under the Note.
<br />2. Fa■ b fsr?ntaaa d Iassranea, Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments air due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />oee~tweft of: (a) yearly taro and assessments which may attain priority over this Security Instrument. (b) yearly
<br />Ieasabold payments or ground rents on the Property. if any, .(c) yearly hazard insurance premiums; and (d) yearly uor1W -, insaraaoe premiums, irony. These items are called "escrow items." Lender may estimate the Funds due on the
<br />bans ofenureent data and reasonable estimates of future escrow items.
<br />1U Fuods"U be held in an ins itudw.the, deposits or accounts o (which are insured or guaranteed by a federal or
<br />tdate agency (incloftg Lender if Lexrder is such an institution). Leander shall apply the Funds to pay the escrow items.
<br />Leader may not charge for bolding and applying the Funds, analyzing the account of verifying the escrow items, unless
<br />Lostder pays Borrower intern on the Funds and applicsbk law permits Lender to matte such a charge, Borrower and
<br />%ender tray agree in writing that. interest shill 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 />SUB give to Borrower, without charge. an annual accounting ofthe Funds showing credits and debits to the Funds and the
<br />purpme for which each "t to the Funds was made. The Funds are pledged as additional securityfor the sums secured by
<br />this Security
<br />If theamcmt of the Fur* bald by Lend& together with the future monthly payments of Funds payable prior to
<br />the due deaf the escrauv iterua�,Arl mete -di d", a, mount required to pay the escrow items when due, the excess shall be;
<br />at Borav+ita motion. either pr+aetrptl ht:Borrosver or cttrdited to Borrower on monthly pit'
<br />rments of Funds. If the
<br />amauzr[:efd* *uzda held by Laatidmc is not sut6►�iertt to pay the escrow items when due, Borrowcrshiall pay to Lender any
<br />amotrat drdsietsary to make up the deficiency in one or more payments as required by Lender.
<br />,.lSPQU payment in full of all sums secured by this.Security Instrument, Lender shall prCaTtly refund to Borrower
<br />any Funds held by lenderX under paragraph T the Property is sold or acquired by Lender. Umder shall apply; no law
<br />than immedWetyr prior to the sale of the Prt� or its acquisition by Lender, any Funds hid 4,1ender at the time at.
<br />application as a credit spinal the sums secttred 4y this Security Instrument.
<br />& ANiksdw of $t y=mwr, Unless applicable law provides otherwise, all payments �eived by Lender under
<br />paragraph= I and 2 shall be appliaL ffl % to late charges due under the Note; second, to prepayment charges dsc under the
<br />Note; tMA toamountspayablewtdes~paragra 1 t2. fourth. to interest d and last, to principal dw&---
<br />4. urger lltiiC Borroi shall
<br />pay a!1 taxes < saaesarnerttrtargees. tines sad meta attributable to ttre
<br />Property which rnap Guerin priority. over thus Seer,* Iastrutnent. aead leasehold payments cM ground rents, if any:
<br />Borrowershall pay these obligations in the ended in paragraph 2, or if we paid in that manner, BQCmwer"slt xa
<br />pay them im lace 4lr wdy to for penoo owed payment. Borrower shall promptly fitfaisis to Leader all notices of atnoeres
<br />to be 11119 =6M ik mph. If Borrower makes these payments directly. Borrower shall pertly furnish to Lender
<br />r +eodptseviderie�;a�tbcpaymertta. .
<br />Borrower shall promptly discharge any lien whrb has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the liar in a manna acceptable to Lender, (b) amtests in good
<br />faith the Gan by. ordefards against onfor =rot of the lies 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 />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If lender &lumina that any part of
<br />the Property is sub*t to s lien which may attain priority over this Security Instrument, lender may give Borrower 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 givin j of notice.
<br />S, Hourdg Imarsom Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured spina loss by fire, hazards included within the term "exteaded 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 insurance shall be chosen by Borrowers subject to lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be aceeptoble to Lender and shalt rmclude a standard mortgage clause.
<br />LOW" 811111111 have the right to hold the policies and renewals. If Leader requires. Borrower shall promptly give to Lender
<br />all receipts of paid proniuna and renewal notices. In the event of loss. Borrower shall give prompt notice to the insuranr
<br />carrier and Lender; l order may make proofof loss ifnot made promptly by Borrower .
<br />girkmLeeider and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoratkdrer rePLT
<br />Of the Ihmperty daueaaBed, if the atsaxatiorn or repair is ecammically feasible and bender's security is not lesmed. If oN
<br />restoration or repo w is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the awns asamwed by this Security Instrument, whether or amt: than due, with any excess paid to Borrower. If
<br />Borrower abandons fiat Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />A ed to souk a claim tbm Leader may collect the insurmce proceeds. Lender nisy..use the proceeds to repair or restore
<br />the ProM," or to pay sues se var ed, by this Security Instrument, whether or not t3tesn due. The 304ay period will begin
<br />when the notice is sivem,
<br />Union lender Wd Borrower otherwise agree in writing, any ap ication of proceeds to principal shall not extend or
<br />postpone the clue dale of the monthly paymots referred to in paragraphs I and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by I ander 13wrowees right to any indastamee policies ant proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the exte.cr;f the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. P1 satiae sad Mai■lesatate of Praperjr; Lowelboiis. Borrower shall not destroy, damage or substantially
<br />cbaage the Property, allow the Property to deteriorate or commit wasm if this Security instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease, and. if Borrower acquires fee trek to the Property. the leasehold and
<br />fee title " not mase unless Lender agrees to the merger in writing,
<br />7. Pre fectko of Le oftes Rie tt in tie Property; Mar'll Urmasee. If Borrower fails to perform the
<br />cuw== s WA agreements contained in this Security Instrument, or there is a legal proceeding that may signiflmntly affect
<br />Leader's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />regulations), then Under may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br />in the PropeAy. Leader's actions may include paying any sums secured by a lien which has priority over this Security
<br />Ias;rtsrnent, appearing in court. paying reasonable attorneys' fees and entering on the Property to make repairs. Although
<br />it,tnda may take action under this paragraph 7. lender does net have to do so.
<br />Any arnovntsdtsburted by Lender under this paragraph 7 stall become additional debt of Borrower *cured by this
<br />Security Instrument. Unless Borrower and lender agree to other tenets of psyment. these amounts shall tear interest from
<br />the dote of disburstment at the Note rate and shall be payable. with interest. upon notice from Lender to Borrower
<br />tequestrng psyrnent.
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