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<br /> UNIFORM C�vENAh"fS. �orrower and Lender cove�ant�ad a�ree j►s follows: � ���--� ��6 412
<br /> � 1. Payiqeat ot Priactpa!a1d l�te�Prep�ymeat�nd l.ate Charaei. Barrower shall promptly pay whcn due
<br /> the principsl af and i�terat on she debt evidenced by the Nate:�d any prepayrnent and late charges due under the Note.
<br /> 2. Fuads ior?axa�d Iasnrwce. Subject to applicabla l�w or tv a written waiver by Lender.Bortower shaii pay
<br /> to Leader on the dsy manthly psyments are due unde�the Note, until the Note is paid in flill,a sum("Funds")equal to
<br /> , ono-twelfth ofc (a�yearly uxes �tnd assessments which may attsin priority over this Security lnstrument; Co) yesrly
<br /> leasehold psyments or ground rents on the Property� if Any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> mortp�e insurance premiums,if�ny.These items ue called"acrow items.'•Lender msy estimate the Funds due on the
<br /> buis of current dau and reasonable estlmates of tt�ture acrow items.
<br /> The Funds shall be held in an institution the deposits or accounts of which are insured or guan�nteed by a Pederal or
<br /> etate agency(including Lender if Lender is such an inatitution). Lender shall apply the Funds to psy the escrow items.
<br /> Leader may not chuge for holding and spplying tho FuAds,analyxing the account or verifying the escrow items, unlas
<br /> ' Lmder pays Borrower interat on the Funds aad�pplicable l�w permits l.�nder to malce such a charga. Borrower and
<br /> : Lender msy agra in writing that interest shall be pud on the Funds. Unless an agreement is mAde or applicable law
<br /> requires interest w be pf3d�Lender shal!not be required to pay Horrower any interest or earnings on the Funds. Lender
<br /> shall give to Borrower,without charge,an annual acoounting of the Fr�nds showing credits and debits to the Funds and the
<br /> purpose for which ach debit to thc Funds was made.The Funds are pledged as additional sxurity for the sums secure�by
<br /> this Secwity Instrument.
<br /> If the unount of the Funds held by Lender.together with the future monthly payments of Funds payable prior to
<br /> the due dates oi the escrow items,shall exceed the amount roquired ta pay the escrow items when due,the excess shall be,
<br /> ' at Horro�ver's option,either promptly repaid to Borrower or credited to Bonower on monthly payments of Funds.If the
<br /> amount of the Funds held by Leader is not sutficient to pay the essrow items when due,Horrower shall pay to Lender any
<br /> amount necessary to make up the deSciency in one or more payments as required by Lender.
<br /> Upon payment in flill of all sums secured by this Security Instrument,Lender shaU promptly refund to Honower
<br /> any Funds held by Lrnder.If under paragraph l9 the Property is sold or acquirod 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 u a crodit sgainst the sums securod by this Security Instrument.
<br /> 3. Ap�licatlos o!Payments. Unless applicable isw provides othcrwise,all p�yments received by Lender under
<br /> panaraphs 1 and 2 sha11 be applied:first,to late chuges due under the Note;second,to prepaymmt charga due under ihe
<br /> Not�third,to amonnts payable under paragraph 2;fourth,to interest due;and lut,to principal due. �
<br /> �. (�ae�Leas. Borrower shaU pay all tues.assessments,charges, 8nes and impositions attributable to the
<br /> Property �vhich may attain priority,over this Secwity Instrument, and leasehold payments or ground rents. if any. , �
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<br /> norruw�er snaif p�y ineae oongaiivns in ine m�wnrr provi�eo m pnragrapn 2�vr ir nvi pi�iu m ius�idii���e:.a�i„�:�ci 5�,«L -
<br /> pay them on time directly to the peison owed payment.Horrower shall promptly furnish to Lender all notices of amounts , ,
<br /> to be psid under this paragraph.If Borrower makes these paymrnts directly,Borrower shall promptly fumish to Lender --
<br /> receipts evidencing the psymmu.
<br /> Horrorver shall promptly dischuge any lien which has priority over this Security Instrument unless Horrower:(a)
<br /> aarees in writing to the payment of the obligation secwed by the lien in a manner acceptable to l.ender;(b)contests in good �
<br /> . faith the lien by,or defrnds against enforcemrnt of the tim in,legal proceedings which in the Lender's opinion operate to '�—
<br /> prevent the enforcement of the lirn or forfeiture of any part of the Property;or(c)secures from the holder of the lien an -
<br /> agrament s�tisfi►ctory to Lender subordinating the lien to this Security Instrument.If Lender determines that any part of '�
<br /> the Property is subject to a litn which may attain priority over this Security Instrument,Lender may give Botrower a
<br /> notioe identifying the lien.Borrower shsll satisfy the lien or uke one or more of the actions set fortb above within 10 days
<br /> of tbe�ving of notice.
<br /> S. Harard Iasunnce. Borrower shall kap the improvemenu now existing or hereafter erected on the Property >
<br /> insured against lass by fire,hazards includod aithin the term"extcndod coverage"and any other hazards for which Lendec '
<br /> requires insurance. This insursnce shall be maintained in the amounts and for the periods that Lender requires. The
<br /> inauranoe carrier pmviding the insurance shall be chosen by Borrower snbject to Lender's approval which shall not be
<br /> unna.wnably rvithheld. ��
<br /> All insutance policies and renewals shall be acceptable to Lender and shall include a standard mortg�tge clause. `�`�
<br /> Lender shall have the right to hold the policies and rmewals.If Lender requires,Borrower shall promptly give to Lender i��,:
<br /> all receipts of paid premiums and renewal notices.In the event of loss.Borrower shall give prompt natice to the insurance
<br /> carrier and Lender.Lender may make proof of loss if not made promptly by Borrower. � .
<br /> Unless Lender and Borro�ver otherwise agrx in writing,insurance proceods shall be applied to restoration or repair
<br /> of the Property damagod,if the restoration or repair is economically feasible and Lender's security is not lassened. If thc
<br /> ratotation or repair is not economically feasible or Lender's security would be lessened, the insurance praceeds shal!be
<br /> applied ta the sums sectsred by this Security lestrument.whether ar nat then dne,with any excess paid to Honower. 1f
<br /> Borno�ver abandans the Property.or does not answer within 30 days a notice from Lender that the insurance carrier has
<br /> o�'erad to settle a claim,then Lender may collect the in�urance proceeds.Lender m�y use the proceeds to ropair or restore
<br /> the Property or to pay sums aocured by this Security Instrumrnt,whether or not then due.The 30�day period will begin
<br /> � w�hen the nMia is�iven.
<br /> Ualas Lender and Borrower other�vise agree in arriting,sny application of proceeds to principal shal!not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> uader puagnph 19 the Property is acquired by Lender,Bonower's right to any insurance policies and proceeds resulting
<br /> from damsge to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br /> lnstrumtnt immediately prior to the acguisition. % - _---
<br /> 6. Praenatios�nd Mdsteeance oi Properf�,La�ebolds. Borrower shall not destroy,damage or substantislly '
<br /> change thr Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br /> Borru�ver shal!comply with the provisions of the lwse,and if Borrower acquires fee title to the Propeny,the leasehold and
<br /> fa titk sh�ll not merge unlas Lender agrees to the merger in writing.
<br /> 7. Protection ot Lender's Ri�6b in the Prooerty; Mortgage Insurance. If Borrawer fails to perform the
<br /> covenu�ts at�d agreements contained in this Security lnstrument.or there is a legal proceeding that may significantly affect Y
<br /> � Lender's rights in the Property(such as a prceeeding in bankruptey, probate, for conciemnat�on or to enforce laWS or
<br /> reaulatiana).then Lender may do and pay for whatever is necessary to protect the value of[he Property and Lender's nghts
<br /> in the Propeny. Lender's actions may include paying any sums secured by a lien which has pnonty over th�s Secunty �^�
<br />_ lnttrument.appeanng�n court,pay�ng reasonable attorneys'fees and entenng on the Yroperty to make repa�n.Although �
<br /> Lender may take action under this paragraph 7,Lender does nat have to d�so
<br /> Any amounts d�sbursed by Lender under this paragraph 7 sh�ll become additional debt nf Borrower secured by th�s 's,
<br />. Secunty Instrumem. Unless Horrowcr and Lender agree to ather terms of payment.these amoun�s shall bear m�erest fr�m �� �
<br /> the date of dtsbursement at the Note rate and shall be payable, w�th interest, upon n�tice fr�m t_ender tc� Hc�rrower
<br />. ►equesting�►aymtn�
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