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<br />90-107026
<br />UNIFORM t.OVBNAWn Borrower and Lender covenant and agree as follows:
<br />1. Paytaamt of Prbdpl tied lateswtt propyss"t Wad Late CUarges, 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. Funds (OTTWxes Wtai itnaraat s. 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 to full. a sum l "Funds ") equal to
<br />one-twelfth of: (a)• Yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />Iessehoki payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insi moce premiums, if any. These items are called "escrow items." Lender may esitsnsie the Funds due on the
<br />basis of current data and reasonable estimates of f ature escrow items.
<br />The Furls sWI be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (iwcladinR Leader if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Leader may act cbtit'ge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />lewder pays Borroa r interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may aVroe 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 "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 shall be,
<br />the due data of the escrow items, shall exceed the amount required to pay the escrow items when due, th of excess s. if the
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments
<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 t r more payments as « iumd by lender.
<br />Upon payment in full of all sums secured by ibis Security Instrument. lender shall promptly refund to Borrower
<br />any Funols held by Lender. If under (paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later
<br />thin inin diately prior to the sale PT the Property or its acquisition by Lender, any Funds head b) Lender at the time of
<br />application as a credit against the surns secured by this Security instrument.
<br />3. ApOltcadoa of PWrineuts. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: tint, 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, Charges; Liens. Borrower shall pay all taxes, assesc,:nats, charges. fines and rttt'posiitriris attributablc to the
<br />Property which may attain priority over this Security Instrument. and leasehold payments or ground rents, if any.
<br />Borrower shall pay then: obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shag
<br />pay them on time direcdp to the person owed payment. Borrower shall prompth furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower m4 es lease payments directly-, Rzwower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly diseharge 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 enforcement of ttht lien in, legal proceedings which in the Lender's ovini(in operate to
<br />prevent the enforcement of the lien or forfeiture of my part of the Property: or (c) sm.:res fr am the h.,., Jet of the lien an
<br />agreement satisfactory to Lender subordinating thr 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 actions set forth above within 10 days
<br />of the giving of notice.
<br />S. 11Wrard Insavenee. Borrower shall keep the improvements now existing or hereafter erected cr. the Property
<br />insured against loss by tire, hazards included wuhin the term "extended coverage" and any other hazards far which Lender
<br />requires insurance. This insurance shall be inaintained in the amounts and for the periods that Lende* aequires. The
<br />imurance carrier providing the insurance shall tie chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shafi lot accepta'bit 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 of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss Knot mane 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 repair is economically feasible and Lender's security is not lessened. If Zhe
<br />restoration or repair is not economically feasible or Lender's security would be lessened. the insurance proceeds shag: 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 the insurance proceeds. Lender may use the tproceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then dune. The 306day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree rn writing. any a frplication of rroceed,; w pnncipat shat° not extend? cr
<br />postpone the due date of the monthly pa) meet., refrerred to in paragraphs :.an.i ' ar L hange the amount 4*5the payments. If
<br />under ruagraph 19 the Property is acquired bur Lender. Borrower's right t, ariy insurance policies and lrrxeeds resulting
<br />from damage to the Property prior to the acquisition shah pass to Lender to the extent of the Sums secured by this Security
<br />Instrument immediately prior to the acquisition
<br />6. Preservation and Mainteaaace of Prop": L.eambolds. Borrower Shall nark destto). damage or substantially
<br />... _ n__– �..... A—It ...�.,w nr rnmmrl KSSIQ if this Security Instrutntnr is on a kaseitold.
<br />cusage me Froperiy. aiiOw u.c a i.,i -Mr — _. __ ..
<br />Borrower shall comply with the prr•,,rwon3 of the lease. and if Borrower acqutees fee title to the Property, the ieaseholdsuad
<br />fee title shall not merge unless Lender gran to the merger in writing.
<br />7. Protection of Lender's Ripfmts in the Property: %, le"itaae Insurance. If Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding in hankruptcy, probate, for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the Value of the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />instrument. appearing in court. paying reasonable attorney-' fees and entering on the Property to make repairs Although
<br />Lender may take action under this paragraph 7. lender does not have to do u,
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Burrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of pa) merit. these amounts shall bear 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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