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<br />-- 106845 �z
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follo�wocrower shall promptly pay when due
<br />1 Payment of Principal sad Utttratit; PrepaYmeat and Leta CNurges.
<br />d der the Note.x
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges tie tin
<br />c al of a for Taxes sad Ittatraaa. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />Via" to Lender on the day monthly payments are due under the Note, until the Note is paid in (611. a sum ( "Funds ") equal 14,
<br />one- twelfth of (a) yearly taxes and assessments which may attain priority over this Security Instrument, lb) Yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />paY
<br />_. �...... �.+ mortgage insurance premiums, if any. These items are called "escrow, items." Lender may estimate the Funds due on the
<br />-a: basis of CUnent 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 />lender shall apply
<br />state agency (including Lender if Lender is such an institution). y 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 />interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender pays Borrower
<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 />L ',• . , i' purpose for which each debit to the Funds was nude. The Funds are pledged as additional security for the sums secure d by
<br />this Security Instrument. meets of Funds able prior to
<br />'! !; if the amount of the Funds held by Lender, together with the (inure monthly pay pal%
<br />• :, , . the excess shall be,
<br />�': •� �. : '. the ddue dates of the escrow items, shall exceed the amount required to pay the escrow items when due,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender r any
<br />r..:
<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
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply no ter
<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 Ny this Security Instrument.
<br />h 3. Application of Payments- 0 "nle applicable law provides otherwise, all payments received by Lender under
<br />q?artigraphs 1 and 2 shall be appl91111 tint, to late charges due under the Note; second, to prepayment charges due under the
<br />lgoae: third, to amounts payable u:ader paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. C Mlles; Liens. Bammwer 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, 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 />i;'` :'•r• r. to be paid under this
<br />paragraphs. I Borrower "takes these payments directly. &►rmwer shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptis- discharge any lien which has priority over this Secure, Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the abl'ignition secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends against enfo cenieat of the lien in, legal proceedings which in the Lender', opinion operate to
<br />prevent the enforcement of the lien fir 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 thi4 Security Instrument. If Lender determines that any pan of
<br />t< the Property 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 above within 10 days
<br />of the giving of notice.
<br />„ S. Hazard insurance. Borrower shall keep the improvements now existing or hereof er erected on the Property
<br />insured against loss by ire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This inswrattce shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance comer 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 shall include a standard mortgage clause.
<br />;II.'eiq ;'. t' Lender shall have the right to hold the policies and renewals. if Lender requires, Borrower shall pr, inptly give to Lender
<br />'''s', ;;,t'• all receipts of paid premiums and renewal notices. In the event of loss. 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 &grower otherwise agree in writing, insurance proceeds shat I be applied to restoration 4w repair
<br />t; of the Property damaged, if the restoration or repair is economically feasible and Lenders 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 />�r,+ 't� applied to the %urns 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 an 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 matt use the proceeds to repair or restore
<br />�...
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will began
<br />when the notice is given.
<br />Unless L-ender and Borrower otheru ++e agree in writing, any apr'..:ation of proceeds to principal shall not extend or
<br />postpone the dnae date of the monthly payments referred to in 1 and 2 or change the amount of the payments. If
<br />under paragraph IQ the Pes *perry is acquired by Lender, C -rwwtr's right to any insurance policies and proceeds rtsulting
<br />F ; from damage to the Pro4vril, r nor to the acquisition shall px;s to Lender to the extent of the sums secured by than 5'curity
<br />Instrument im nediaat9?• fear to the acquisition.
<br />f. PreservasWo and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or subsiarnttally
<br />change the ry. agre s the Property to deteriorate or commit A.".-e- If this Security Instrument is on a leasehold.
<br />Borrower shall cam' ly w a l.k r ht provisions of the lease, and if Borrower acquires fee title to the Property. the leasehold and
<br />%�,; •'' fax title shall not merge urdks., gender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; %lortgage Insurance. If Borrower fads to perform the
<br />.,..a .w... on#c .•nn,umrd tic shtC Security Instrument. or there is a legal pr seeding that may ognificarn.lg affect
<br />Lender's rights in the Property (such xs. a proceeding in bankruptcy_ probate, for condemnation or TO emotes ;aw• "r
<br />regulations), then Lender may des and pay for whatever is neceaary ro protect the s alue of the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a hen which has prronn o�rr thax ieaunty
<br />Instrument. appearing in court, paying reasonable atrorneys' faxs and entering on the Property to make repairs Atrhough
<br />Lender may take action under this paragraph 7. Lender does not has a to Jo so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Ilo grower secured by this
<br />Secunty Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from
<br />the date of disbursement at the Nolte raft and shall he payable, with interest, upon notice tram Lender to Borrower
<br />requesting payment.
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