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<br />-� 100752
<br />UNIFORM COYF.NAN I'S Borrower and Lender covenant and agree a� fo love:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borroucr shall promptly pay tvhcu 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. Funds for Taxes and Insurance. Subject to applicable law or to a %� ritten % at%er by Lender. Borrower shall pay
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<br />to Lender on the day monthly payments arc 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 o.er 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 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 whtch 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 lave 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, without 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, I he excess shall be.
<br />at Borrowers option, either promptly repaid to Borrower or credited to Borrower on moni lily 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 Leader.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
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<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 Properry or its acquisition by Lender, any Funds held by Lender- ,.t: the time of
<br />application as a credit against the sums secured be Security Instrument.
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<br />3. Application of Payments. Unless applicayte law pnovides otherwise, all payments receiied by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges den; under the Note. second, to preMinem charges due under the
<br />Note; third, to amounts payable under paragraph 2; &iurth, to interest due; and last, to principal due.
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<br />4. Charges; Liens. Borrower shall pay all tales, assessments. charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or grelunO rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or 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 am here 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
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<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 determines that an) part of
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice idcnlifyitig the )ier-a- Boriawer sl-,el) saii.4 the lien or take one or morn: of the actiom ::ci forth above within 14 days
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<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 to the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policrc :: 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 give to Lender
<br />all receipts of paid premiums and renewal notices. in the event ofloss. Borrower shall 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 %hall 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 ride insurance proceeds. L_erder may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Swunn 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 Lrr writing. any application of proceeds to principal shalLnot exteuli r'
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of Cite paymeit.a,: U'
<br />under paragraph 19 the Property Ls• acquired by Larder. Borrowers right to any insurance policies and proceeds resulting
<br />from damage to the Property pnor at the acquistitbm shall pass to Lender to ihe-ettent of the ~urns %ecuroiby, this Security
<br />instrument immediately prior to the acq.uisitfon.
<br />4. Preservation and 'taintwmnace.sE IFroperty; Leaseholds. Borrotl:eyr %hall nor destroy. damage,. r substantially
<br />ch,ai -e- die Property, allow the Prcr- ern. to 1neriorate or commit waste. if this S&LLrtr.%: Imtrumenr,LF,oh a leasehold,
<br />13i5rrowtty shall comply with the lease. and if Borrower acquires fee title to the Propert%.J he leasehold and
<br />fee ridi: attall not iner:eunless Lender agr ee% to.03. e merger in writing.
<br />7'. Proteatiam of Lender's Flights im O-e' Property; Mortgage Insurance. If Borrower iliadi roc perform the
<br />coveLi:uits,xad agt•ooneurs contained in this Sa: -mini v Instrument. or there [,a iegal proceeding that :rids: vigntncantly affect
<br />Lend) =r.• ,F: r'igh,ts ;n clod Froperty (quili. as a proceeding in bankrupicy. prohate, for zondc- tntt_rton or rlr enforce laws or
<br />regulatiinvo, Then Leader may a`o and: pai.E. for w hatever is necessary to protezt,rfit: a a'hue oftliu: Property and Lender's rights
<br />in the Pforerty. Levdxr's actwrs nta�! i�clude paying any sums secured by :'a. lure which hiis priority o%er this Security
<br />Instrumitya. appearne, to court; pagiiui rehwnahle attorneys fees and entering on. i- he-Propert% to make repairs. Although
<br />Lender in6,yi take action under tli.is pnraara; h '.. Lender doe% not have to do so.
<br />• A -,; amounts disbursed -hy Lritder under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Securiv�': §ristrument. Unless Bor6l%yer and Lender agree to other term,. of payment. these amounts %hall bear interest from
<br />the date of disbursement at the `cote rate and shall he payable. %%ith interest. upon nonce from Lender to Borrower
<br />requesting payment.
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