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<br />UNIFORM C CIVIRNA -M Borrower and Lender covenant and agree as follows: R ,
<br />It Ps ment of Prinelpal and Intetr+ Prepayment and Late Charges, Borrower shall promptly pay when due
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<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under Inc one.
<br />2. Funds for Tauten ad Ituuranee. 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; (h) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums: and Id) yearly
<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 estimaiesof future escrow items.
<br />The Funds shall be held in an institut ion 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 ewrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender 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 />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 />purpose for which each debit to the Funds w as 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
<br />the due dates of the escrow items, shall exceed Abe amount required to pay the escrow items when due, the execs% shall be.
<br />at Borrower's option, either promptly lrepaad t0 Borrower or credited to Borrower on monthly payments Of Funds. If the
<br />amount of the Funds held by Lender is mot -sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br />amount necessary to retake up the deficiency in one or more payments as required by Lender.
<br />Upon paymeni: is 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 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 credit against the sums sects red by this security Instrument.
<br />& Applieadon of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under t he
<br />Note; third, to amounts payable under paragraph 2. fourth, to interest due; and last, to principal due.
<br />4. Charges; Liens. Borrower shall pad ti` 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 />to be paid under this giaragraph. II borrower males these pa3nrctits directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority V1 CT ttlis Security Instrument unless Borrower. An)
<br />agrees in writing to the payment of the obligation secured by :t:he lien in a manner acceptable to Lender; IN 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 1h; lien to this Security Instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may at tam priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall --atisfy the lien or t ake 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 hereafter erected on the Property
<br />insured against lomby fire, hazards includedwithin the term "extended coverage" and any other hazards fair which Lender
<br />requires insurance. This insurance shall tx maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower %U.hiect to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shrill he acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the poll icier and renewals. If Lender requires, Borrower shall promptly give to Lcn der
<br />all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insmince
<br />carrier and Lender. Lender may make pro if of low if not made promptly by Horrow•er.
<br />Unless Lender and Borrower otherwise agree in writing, insurance rrrcecds shall be 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 the
<br />restoration or repair is not econa nically feasible or Lender's security would he lessened, the insurance proceeds shall bw
<br />applied to the sums secured by this Security Instrument, whether or not then due, vinh. any excess paid to Borrower. If
<br />Borrower abandtms 'the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a Oaam, then Lender may collect the insurance proceeds. L.e::der 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 will begin
<br />when. the notice is given.
<br />Unkcs Lender and Borrower other ume agree in w ntiTr¢. any applicant +n of pnceeds to principal shall not exeen t or
<br />postpone the due date of the monthly paynienis referred to in paragraphs I and 2 or change the amount of the pay mrs:;. If
<br />under paragraph la the Property is acquired by Lender. Borrower'% rigin lo ally insurance ptncctes snit prccceds rtwultI g
<br />from damage ai Me Property prior iti theucqur.eum shall pass to Lender the extent of the sums.c:r reel by This SLturay
<br />Instrument immediately pots to the acyu ,%itwn
<br />6. Preservation and Maiatenance of Property; Leasteholds. B; r -.+oar shall nk•r de %troy, damage or suh.tanlially
<br />change the Properly, allow the 1"raperts t0 deteriorate or 7 Loma v►:�.t.- 1, the, tircurty Instrument rs on a leasehold.
<br />Borrower shalt sominly w uh the prmtston- d the'ca%c. and rf Iksrrrw. r a,, ;. _, fee title to the Property. the leasehold and
<br />fee tltleshaB not merge unless I ender agues ro The,nerger a, writing
<br />7. Protection of Lender's Rights in the Property: %lortgaite Insurance. If Borrower farts to perform the
<br />... __., _.............•.....,,, .,..w1 ,n th a \.•.•unto Irmtrurrtent. fir there 1% A legal rr,,ce:tding that rose stgnlfiC:lnrl) affect
<br />Lender's rights in the Property (such is a proceedtmt in hankruptcy. pr Nte. for s•ondemnation t +r to enforce laws or
<br />regulations), then Lender ma. d++ and r.n for w hatcscr rs ne%:essan to protect the salue of the Property and Lender s rights
<br />in the Property. Lender's Actions may mcludc paying any sums secured by a Iran which has pronry ostr this Security
<br />Instrument. appeanng in court. pay �easonahle attornty�' fits ,uid entering on the Property torn eke repairs Although
<br />Lender may take action under this paragraph 7.1 ender dots not hale todto v+
<br />Am amount%dnshursed by Lender under this paragraph " shall beet,me additional debt of Borrower.ecured by this
<br />security Instrument Unless Borrowerans.l l ender agree to other ttrmsof payment• these amounts shall hear interest from
<br />the date of disbursement At the Note rite and shall he pa%ahle. with trnerest. upon nonce from I ender to liorrouer
<br />requesting payment.
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