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<br />Ut4IFO1tMCOVENANtS Borrower and Lender covenant and w" In follows go-40053
<br />a. PayttNat V "S A t a D.. I .A I At& Charger. 1,11rimer 0311 Oromnliv pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2, Foaft for TaxemeW lasurow. Subject Inapplicable law or to written waiver by Lender, BOTTOwEl'shall Pay
<br />to Lender on the day monthly payments ate due under the Note, until the Note is paid in full, a %tim t"Fundi") equal 10
<br />,
<br />one•twelfth of. (a), yearly taxes and assessments which may attain priority over this Sec utiiy Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums-. and W yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis otcurrent 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 veri4ring the escrow items, unless.
<br />Lender pays Borrower interest on the Funds and applicable law perniks Lender to make such a charge. Borrower and
<br />Lendet may agree in writing that iritcrest *0 be paid ore the Funds. Unless an agreement is made or applicable law
<br />requires interest to be paid. Lender shalt not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shan give to Borrower. without charge. an annual amuntingof 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 DY
<br />this Security Instrument.
<br />If the amount of the Funds held by Leader. 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 />w. Borrower's option, either pwmptlY repaid to Borrower or credited to Borrower on monthly paymerts of Fonds. If the
<br />ammint of the Fords, held b�� . Lmder is not sizMcient to pay the escrow items when due. Borrower rAk to Lender any
<br />8 MMM? Me=U- 1 ',0 9 U kk! MP d%4-- d-- A c i:eoa-,y, us ore c r moire pay ments as required by Lender.
<br />I Ugqa p %=ent in W,A* all sums s,&=rd by O.-u-, 54curity hystEvnent, Lender shall prompt J-Y refund 113• Borrower
<br />wLy- Funds held by Lender. LE mAer paragriph 19 Oe Wt-
<br />.0perty is soJd.,x:avquiTed kv Lender, Lender shall appl-Y, i7o later
<br />ttitmta immediately prior to d1m sale of the Property or iii:s a.-;uisition bwL any stands held by Lender at ijur, time of
<br />application as credit aprqsi., the sums secured by this Security lnstr%ur%nTj-. -
<br />& A"ficatlesofPayments. Unless applicable law payments received by Lender under
<br />paragraphs I and 2 shall be applied: first. to late charges due under the Note; secimd- fTo prepayment charges due under the
<br />Kix-- third, to amounts paW.Mie. tinder paragraph 2. fourth.,, to interest due-, and last,, to principal duf--
<br />4. Charges: Llem& Di rower shall pay all Mitm. assessments, charges, fiae-,3,;&ttrJ impositions attribw=Ke to the
<br />Property which may attain pnotity.over this Secuntvi Enstrument, and leasehold• pay-137cm-M .-Tr ground netts. tf any.
<br />Borrower shall Lpay thew obhgations, in the manner provided in paragraph 2, or if not paid in inanner. aorn3naer --,MH
<br />pay them on time directly to the person owed payment. BOffOWCT shall promptly furnish to I-C-lidix all notices of amoulats,
<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 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 cnibrucmcni of, lite lier, in, legal proccccli—gs which in the Lender's opini-m OM"Ate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property. or (c) sec. rc% 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 priority over this Security Instrument. Lender may gi% e Eloffo% er 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 Ion by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance stWI be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carder 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 shat) - include a staidard mortgage clause.
<br />Lender shall have the light to hold the policies and renewals. If Lender requires Borrower 5halE rumptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower sliaLl give prompt notice to the 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,.4zill be applied to restoration. or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and LwAer's security is not tessearaL If the
<br />restoration or repair is not economically fusible Or Lender's security would be lessened. the umsu=ce proceeds shall be
<br />applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. It
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender this 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: Own due. The 30-day per so. will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend ear
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 : or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />firomdan=ge to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenariceof'ProperiW: Leaseholds. Borrower shall not destro), damage or substantially
<br />change the Property. allow the Property to deteriorate or commit caste. If this Security Instrument is on a leasehold.
<br />Borrower shall: comply with the provisions ofthe lease. and dBorrower acquires fee title to the Property, the leasehold and
<br />feetitle shall notmargewiJess.Lender agrees to the merger in writing.
<br />7. Pletiteatium of tamer's Rights in the Property-, %fortpge Insurance. If Borrower fails to perform the
<br />coveriantsand:agreementy, contained in this Security Instrument. or there is a legal proceeding that may significantly affect
<br />Leitcla's right-%, in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />regulations), then Lender may doand pay for whatever is necessary to protect the value ofthe Property and Lender's nghts
<br />in the Property. Limdees•',umons 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 I. Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrowersecured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, i here amounts shall bear interest from
<br />the date of disbursement at the Note Tate and shall be payatile, with interest, upon notice from Lender to Borrower
<br />requesting payment.
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