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<br />90-- 106393
<br />UN1F011114 CoVENAN" Borrower and Lender covenant and agree as (allows:
<br />1. payataat of Prfaolpal tttrttl Iatereah iPrepaymeat seed late Char=s. 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 />7. iFo-Ab for Tana.$ and Iapt rataee. subject to applicable taw or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note 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 />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 curreent data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which ate 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 />L=d.'r pays Borrower interest on the Funds mid applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in willing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires lateral 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 />pt rpose far which each debit to the Funds was made. The Funds are pledged as additional security for the sums secur .-d M
<br />this Security Instrument.
<br />If the amount of tine Funds held by Lender, together with the future monthly payments of Funds papkie 17m- m-tio
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when dues the 6WU2a , sJrAl lye,
<br />at Borrowers option, either promptly repaid to Borrower or credited to Borrower on monthly payments of; F=istula. Ef the
<br />amount of the Funds held by Lender is not sufficient to pay the esctotiw items when due, Borrower shall pay ta, Tender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment it fail of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lerd'er.. 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 held b.? Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />& Application of Paymeata. 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, to amountspayable under paragraph 2; fourth. to interest due, and last. to principal due.
<br />4. t,Lrm Liege Borrower shall pay all. tares. assmwy-rnts, charges, fines and impositions attributable to the
<br />Property which may taus priority. over this Sec*my Instrw.Tj(mj;. and leasehold payments or ground wants, if any.
<br />Borrower sb U pay O.enw, obligations in the manner provided in paragraph 2. or if not paid in that manner. Borrower shall
<br />pay theca cm Wm d to the person awed payment. Borrower: sF ^all promptly furnish to Lender all notices of arnowts
<br />to be pW wutikr tihns �A c ph. If Dorm er makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees 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) sm.:res from the hoiden 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 pcvarity over this Security Instrument. Lender may give Borrower a
<br />motic a identifying the lien. Borrower shall satisfy the firm or take one or more of the actions set forth above within 10 days
<br />ctfthe giving of notice.
<br />S.- I'Esurd Insurance. Borrower shall keep the improvem.crits now existing or hereafter erected on the Property
<br />nnstnaer�ep}runo: loss by fire, hazards in<r mled within the term "exten it d coverage" and any other hazards for which Lender
<br />regWr s tm=rance. This insurance shall be maintained in the amounts and for the periods that Lender requires, ne
<br />dosuranw carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />=reasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard ==Sage clause.
<br />Lender sPiA have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give };�vnr notice to the insurance
<br />carrier and Lender. Leader may make proof of loss if rot made promptly by Borrower.
<br />Unless Lender amt Borrower otherwise agree m writing, insurance pcocez- ; shall be aipglied to trestormdon or repair
<br />of the Praperty damaged, if the restoration or repair rr.econamigity feasible =d Lender's smuriey is met lessened. If the
<br />restoridatz or repair is not economically feasible or Lender's sa:utssy would.be lessened, rise n asurance proceeds shall be
<br />appliedt for the sums secured by this Security Instrument, whethex or not then due, with my- em ess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30' clays a notice from Lender tin tit: the insurance carrier has
<br />offered to settle a claim. then Lender may collect tli e. u asurance proceeds. Lender may use the proceeds to r el.mir or restore
<br />the Property or to pay sums secured by this Security [�sirument, whether or'not then due. The 30 -days period will begin
<br />ww$en the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any ap>. lication of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments. Y e1eY-ra3 to in paragrap, fts 1 and 2 or change r}.tt; :ii-nount of the payments. If
<br />under paragraph 19 the Property is acquired by Laider,. Borrower 5: right to pri v insurance pbhcres and proceeds resulting
<br />from damage to the Property prior to the acquisition sli 711. pass to.£;ender try ibe (Went of the sums sec-.rrad- by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leasehe.1, , Borrower shall not destroy, damage or substantially
<br />change the Property. allow the Property to deteriorate or commie waste. if this Security Instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease. and if Borrowwer acquires fee title to f ate Property, the leasehold and
<br />foe title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lenders Rights in fl-te Property; Mortgage Insurance. If Borrower fails to perform the
<br />covenantsand agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />Lendees 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 Lender's rights
<br />in the Property. Lender's 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 make repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not ha %e 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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