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<br />UNIFORM COVBNAN". Borrower and Lender covenant and agree a follows: X —1 V li vu 5
<br />1. pay of Priselpal sad Itttttma - Pepara>sat at/ Ltattr Ckargas. 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 />L Ruda for Tatra sad ltttrarstism Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lander on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to,-,
<br />onrtwelflh of: (s } yearly taxes and assessments which may attain priority over this Security Instrument (b) Yearly „±
<br />leasehold payments or ground tents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yarly,�
<br />mortgage insurance premiums, if any. These items 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 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.:; °O a
<br />Lender may not charge for holding and applying the Funds. analyzing the account or verifying the escrow items, West-, 6 A
<br />Lander 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 aha11 be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be pn4 LcwkA aliall tact be regained to JOY Borrower any interest or earnings on the Funds. !.ender
<br />shan give to Borrower. without charge, an annual accounting of the Funds showing credits and debits m 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 Lander, together with the future monthly payments of Funds payable prior to
<br />the due data of the escrow items, shall exceed the amount required to pay the escrow items when due. ahe excess shall be.
<br />at Borroater's olpioem, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount o(f tlne Fund % held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br />amount memssatry to makeup the deficiency in one or more payments as required by Lander.
<br />U'}peat payment in full of ail stuns 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 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 cradh against the sums secured by this Security Instrument.
<br />3. Appliadm of PPoynsesnb, Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I 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. Cbwvr, Liana. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain pnonty, over this security Instrument, and leasehold paynncna ai ground rents, if an,.
<br />Borrower shall pay ittirtse obligations in the manner provided in paragraph :, or if not paid in that mariner, 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 shag promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the ;payment of the obligation'seeured by the lien in a manner acceptable to Lender: M contests in good
<br />faith the lien by, or toted*» ds 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 teak a one or more of the actions set forth above within 10 days
<br />of the giving of notict.
<br />S. Hazard lasvraace. Borrower shall ktep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the tern "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the perixls that Lender requires. The
<br />insurance carrier providing the inswrance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheiul.
<br />All insurance policies and renewals %hail be acceptable to Lender acid 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 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 Borrower otherwise agree in writing, insurance proceeds shall he applied to restoration or repair
<br />of the Property damaged. if the restoration or re,;ssir is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security wuvld 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 Lowler that the insurance carver 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 wiH began
<br />when the notice is given.
<br />Unless Lender and Borrower other% ise agree in writing, any application of proceeds to pnncipai shall not extend or
<br />Imp the due date of the monthly payments reftrred to in paragraphs I and 2 air change the amount of the paymtnas. If
<br />unrder ;paragraph 19 the Property is acquired by Lender. Bormwer's right to any insurance policies and proceeds res-uXirig
<br />from kumage to the Property prior to the acquisition shall pass. -to Lender to the extent of the sums secured by this Sft-Q. icy
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maiateoarrce of PTtrperW; f esseholds. Borrower shall not destroy, damage or substantially
<br />change the Property, allow the Property to cfrt:. ^rate or commit waste. If this Security Instrument is on a leasehold.
<br />9tr! ,!we! Shall Ce!n.a., u.ii6 il.r nn,.nai„ne ed *Lp t,tace. and ur I -m-wer acoures fee torte to the Property, the leasehold and
<br />fee title shall not merge unless Lander agrees to, cleat merger in a rating.
<br />7. Protection of Lender's Rights is nbe Property, Nlortgatge lesuraaee. if Borrower fails to perform the
<br />covenants and agreements contained in this Se+cwln,y Instrument, or nitre rs a teg:al proceeding that may significantly affect
<br />Leader's rights in the Property (such as a pr4x•,eeding in bankrupicF. proture, for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay for aatactvec is necessaq ro protect the value of the Property and Lender's rights
<br />in the Property. Lender's actions may include paymS any surRs secured by a lien which has pnonh over this Security
<br />Instrument, appanng in court. paying reasonable atcormaj•v' Pees and entering on the Property to make repairs. Although
<br />Lander may take action under this paragraph 7. Lender does not ha% a to do so
<br />Any amounts disbursed by Lender under this paragraph 1 shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amount% %hall hear interest from
<br />the date of disbursement at the Note rate and Shall be payable, with interest, upon notice from lender to Borrower
<br />requesting payment.
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