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<br />Q .,_ 106449 UNiFORbt CO EN ANTS. Borrower and Lender covenant and agree. as follows: "0
<br />I. Payttseat at Priaetpal anti iatttrea:; I'rtpaytttteat ttai if atoa R+'irower shall promptly pay when due
<br />the prin6pal of and interest on the debt evidenced by the Note and any prepay menu and late charges due under the Note.
<br />2. Funds for Taxes and It UMACC. Subject to applicable law 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 (" FunVI 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 `round tents on the property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />ttttutgage jnsurutce premiums, if any. These items are called "escrow items." Lender may estimate the Funds dun iii 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 be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower. widluut 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 />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 13orrowee 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 shaJl pay to Lender any
<br />amount necessary to makeup the deficiency in one or more payments as required by lender.
<br />Upon. paymenC in foil of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Funds lief! by Lender. if under paragraph 19 the Property is sold or acquired by Lender, Under shall apply, no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application 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, to amounts payable under paragraph 2; fourth, to interest due; and last. to principal due.
<br />4. Charges; 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 any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2. ar if not paid in that manner. Borrower shall
<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. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has pnon'sy 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 Lendee 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 Lendt:r determines that any part of
<br />the Pronenv is subject to a 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 avows *11hir, lty des ;:
<br />of the giving of notice.
<br />S. Narurd 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. Thi_c insurance shall be maintained in the .amounts and for the periods that Lender requires. The
<br />insurance cam= prakidling the insurance shall be chosen bt 13;ZmDwer subject to Lender's approval which shall not be
<br />unreasonably wirbhe-rid-
<br />All insurance pole••ies 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 requires. Borrower shall promptly, gire to Lender
<br />all receipts of paid premiums and renewal notices. In the event of lass, Borrower shall give prompt notice to..Fae insurance
<br />carrier and Lender. Lender may make proof of loss 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 then 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 />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 begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree m writing, any application of proceeds ro principal sba)Jtnot extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change tbeamount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance } ubdes and proceeds restilung
<br />from damageto the Property prior to the acquisition shall pass to Lender to the extent ofthe Sums secured by this 5ecunty
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. 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 pro,%isions of the least:, and if Borrower acquires fee title to the Property, the Ieascholdand
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property. MortRAee Insurance. if Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument. or there i% a legal proceeding that may significantly affect
<br />Lender's rights in the Propeny (such as a proceeding in bankruptcy. probate. for condemnation or to enforce laws car
<br />regulations), then Lender may do and pay for whales er is necessary to protect the salue of the Property and Lender's rights
<br />in the Property. Lenders actions may include paying any sums %ccured by a lien %.hich has priority user this Security
<br />instrument, appearing in court, paying reasonable attorneys fees and cntenng on the Propem to make repairs. Although
<br />Lender may take action under this paragraph I. Lender does not ha%c to do %o
<br />Any amounts disbursed by Lender under this paragraph I shall herome addit tonal debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other temisof payment, these amounts -.hall hear interest from
<br />the date of disbursement at the Note rate and %hall he pa)at+le. with interest, upon notice from Lender to Borrower
<br />requesting payment.
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