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<br />89-77-- 105597
<br />UNIFOitMCdDVENA.MS.' Borrower and Lender covenant and agree as follows:
<br />1. Paytrnetst of pe"Kipal Wd Itbere" Prepayment and Late CMrges. 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 />2. Fst kb forTa :es and ittsaraatte. 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 ( "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 />rr lage insurance premiums. if any. Thesis items are called "escrow items." Lender may estimate-ihe Funds due out the
<br />basis of current data and reasonable estimatesof future escrow items.
<br />The PundsstWI be held in an institution the deposits or accounts of which are insured or guaranteed by a federalor
<br />state agency.(including- Lender if .Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />L ender wdy'.to charge for holding sad applying the Funds, analyzing the account or verit�%ng the escrow items, unless
<br />Under 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 />rdt+quites interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lander
<br />stall give to Borrower, without charge, an annual accounting of the Futidd Rowing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are plc 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 fuix >. c monthly payments of Funds payable prior to
<br />the due dates of the escrow items. shall exceed th!: ainount required to pay -the escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly repaid to . ftir6wor or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not suffilci i to fi=r_ tot escrow items when due,_ Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency is o 4 s.�^��t(e merits as required by Lender.
<br />Upon payment in full of all sums securedtbk ;phisscity Instrument, Lender shall promptly refund to Borrower
<br />any Funds trend by Lender. If under paragraph :l' tie Proper is sold or acquired by Lander, i.r: osier shall apply, no later
<br />than immediately prior to the sale of the Properiy`or its aw, " pisition by Lender, any Flu zs het iby. Lender at the time of
<br />appiieatii;a as a cradit against the sums secured by this Sec-4 ty.Snstrument.
<br />3: Application o(Payateats. Unless applicable la*provides otherwise, all- vi rnents received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; second; t!s:�repayment charges due under the
<br />Note, third, to amounts payable under paragnph.2• fourth, to interest due; and last. tordricipal due .
<br />4. Charger Liens. Borrower shall pay all taxes, assessments, charges, fines :mod impm-pram attributable to the
<br />Property which may attain priorit i-, Over this Security Instrument, and leaseholdl,'j n-- -rents ts` ground rents, if any.
<br />Borrower shall pay these obligaticcs s:i t:-.he wz --jer provided in paragraph 2, or if not purl in that inanner, Borrower shall
<br />pay them on time directly to the peison owed, min furnish L e der
<br />to be paid under this paragraph. if Borrower retakes these payments directly, Borrowers ll ptrorrsystYy furnish to Lender..'
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any Lien which has priority over this Security Instrument unless Bcmwer. (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) secures from the holder 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 give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the ac tions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Iasnranee. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by iris, hazards included within the tern "extended coverage" and any other 1iav:srds for which tinder
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods tl)ay.L.ender requires. The
<br />itrsurane., carrier providing the insurance shall be chosen by Borrower subject to Lcnd-Ws aFproval which fill-all not be
<br />unreasonably withheld.
<br />All insurance l ibicies and renewals shall be acceptable to Lender and shall iiu;Jvde a standard mortgage clause.
<br />Lender shall have the i. *'rat 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 }►eve prompt notice to the insurance
<br />carrier and Lencler. Lender may Make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwiye agree in writing, insurance proceeds sliall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasiblo as :: udder's security is not lessened. if the
<br />restoration or repair is not economically feasible or Lender's security wdrald be lesso,3cd, the insurance proceeds shall be
<br />applied to the sums secured by this Security instrument, whether or not then due;. %Oth any excess paid to Borrower. If
<br />Borrower abandons the Property,.or does not answer within 30 days a notice front Lender that the insurance carrier has
<br />offered to settle a claim, then Lernir:r may collect the insurance proceeds. Lender mwy use the proceeds to repaid• ur 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 givers.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<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 />from damage 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. Praertatiat alld Maintenance of Property; leaseholds. Borrower shall not destroy, damage or subst ntially
<br />change the Property. allow the Property to deteriorate or commit waste. If this Security instrument is on a le Behold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the lease if
<br />old and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Proteetioo of gender's Rights in the Property. Mortgage insurance. If Borrower fails to pe rm the
<br />covenants and agreements contained in thi%Secunty Instrument, or there is a legal proceeding that may signtfica4tly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate. for condemnation or to enforce laws or
<br />ugulahosisy. their Lezdermaydr,andpay farv:hatasrri,ne : ary topfote t the taluevf the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any bums secured by a hen «high has priority o%er 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 dates not have to do So.
<br />Any arisuunts disbursed by Lender under this paragraph 7 shall htminte addittonal debt of t3urriw cr se: ured by this
<br />security instrument I!nless Borrower and Lender agree to ulhcr terms o.f piynicnt. thc;c amounts shall be.ir mtterest from
<br />the date of cltsburtierticut at file NOW rare and shall he payable. with interest, upon mmrce from 1 Pulc•r to li:itroaer
<br />teyuestmyt paymcut
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