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<br />U141FORMCOVENANTS Borrower and Lender covenant and agree as follows;
<br />I. Payat d Ptrhtelpl tad Inglenook Prepymattt and Lute Gltargea. Burrower 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 />law or to a written waiver by Lender. Borrower shall pay
<br />Z. Raadafor7tmeaattdltteurattace. subject to applicable
<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 />Security Instrument; IN yearly
<br />one-twelfth of: (a) yearly taxes and asseuments which may attain priority over this
<br />rents on the Property. if any; (c) yearly hard insurance premiums; and (d) yearly
<br />lauehold payments or ground
<br />mortgage insurance premiums, if any. These items are caller! "escrow items." lender may estimate the Funds due on the
<br />bads 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.
<br />holding applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender may not charge for and
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />is made or applicable ow
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<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />Funds credits and debits to the Funds and the
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<br />shall give to Borrower, without charge, an annual accounting of the showing
<br />for which each debit to the Funds was made. The Funds are pledged as addstiotmt security for the sums secured by
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<br />purpose
<br />this security Instrummt.
<br />If the amount of the Funds. held by Lender, together with the future monthly payments of Funds payable prior to
<br />the escrow items when due, the excess shall be.
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<br />the due dates of the escrow items, shall exceed the amount required to pay
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />items due., Borrower shall pay to Lender any
<br />mount if the Funds held by Lender is nest suAa:ient to pay the escrow when
<br />in more as req uired by Lender•
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<br />amount necessary to make up the deficiency one or payments
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />by Lender. Lender shall apply, no later
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<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
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<br />application as a credit against the suns secured by this Security Instrument.
<br />3. Application of Payment& Unless applicable law provides otherwise, all payments received by Lender under
<br />charges due under the
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<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />fines and impositions attributable to the
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<br />4. Charges; UesiL Borrower shall pay all taxes, assessments, charges,
<br />Property which may attain priority.over this Security instrument, and leasehold payments or ground rents, if any.
<br />2, or if not paid in that manner, Borrower shall
<br />Borrower shall pay these obligations in the manner provided in paragraph
<br />pay them on lime dire, iy to the person owed payment. Horr ^wee shall p romptly 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
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<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />in acceptable to Lender; (b) contests in good
<br />agrees in writing to the payment of the obligation secured by the lien a manner
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />from the holder of the lien an
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<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. li Lender determines that any part of
<br />Borrower a
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<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br />of the actions set forth above within 10 days
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more
<br />of the giving of notice.
<br />S. Hazard insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />"extended anv other hazards for which Lender
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<br />insured against loss by fire, hazards included within the term coverage" and
<br />This insurance shall be maintained in the amounts and for the periods that Lender requires. The
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<br />requires insurance.
<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 policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Borrower shall promptly give to Lender
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<br />Lender shall have the right to hold the policies and renewals. if Linder requires,
<br />receipts of premiums and renewal notices. In the event of loss. Borrower shall give prompt not ice to the insurance
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<br />alb paid
<br />carrier and Lender. Lender may make proof of lens if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
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<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. if the
<br />Lender's would be le&wned. the insurance proceeds shall be
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<br />restoration or repair is not economically feasible or security
<br />the sums secured by this Security instrument. whether or not then d•uc, with an excess aid to Borrower. If
<br />applied to
<br />Borrower abandons the Property, or does not answer within 30 days a notice frnrn Lender that the insurance carrier has
<br />Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
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<br />offered to settle a claim, then period will begin
<br />the Property or to pay sums secured by ibis Security Instrument, wttcahcr or not then due. The 30 day pe
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<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree to writing, any;Ippltcation of lrr -somds to pnncipal shall not extend or
<br />I and : -t c�`rance the amount of the payments. if
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<br />postpone the due date of the monthly payments referred: av3 in paragraphs
<br />under paragraph 19 the Property is acquired by Lerdor. B� rTower's ngbi to any t r.+airance policies and proceeds resulting
<br />Lender the extent of the sums secured by this Securitv
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<br />from damage to the Property prior to the acquisition shall pass to is
<br />Instrument immediately prior to the acyu ;a:v:ion.
<br />6. Preservation and %Wntenance of Property; Leaseholds, Borrower %hall not destroy, damage or substantially
<br />If this Security Instrument is on r leasehold.
<br />grange the Property, allow the Property to detenorat.e or commit waste
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Property, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing
<br />7- Protection of Lender's Rights in the Property.. Iortttape Insurance. If &,rrower fails to perform the
<br />covenants and agreements contained in thm Secunty Instrument-or there is a tegai proceeomLz tR +r MAY ;.—.••..:� ••i -••--
<br />Lender's in the Property (such ac a prmeedmg in hankruptcy. proharc. for condemnation or to enforce laws c,r
<br />rights
<br />regulations), then Lender inns Jo and pa} for wh tecer is nec:tssary ttv prorecr the \,attic of the Property and Lender's rights
<br />by a lien which has priority over this Security
<br />in the Property. Lender's actions may rttclada paying any gums secured
<br />Instrument, appearing to court, pacing rcas.mabk attorneys' fees and entering tin the Property to make rcpatrs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so.
<br />Any amounts disbursed by LendcK under this paragraph 7 shall become additional debt of Harrower secured b} Ihn
<br />Security Instrument. Unless Borrower and Lender agree to other terms of pay ment. t htoc a; `,wnts"h i 1";u f mt t ;es ffrN m
<br />the date of disbursement at the Note rate and shall be p:t%ahle, wnh ntterot, up,
<br />requesting payment.
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