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<br /> I R�RECORpED
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<br /> UtVIFqRM COVENANTS. �o1'tOWei and Lender covenant and agree as follows: o"�°- i 0 6 5 35
<br /> � 3. Psyment of Prinrl�tt�nd Iet�t;Prep�Ytnent�nd 4,te Ch�. Borrower shall pramptly psy whea due
<br /> the ptiaeipal of and interat on tAe debt evidenced by the Nute and�ny pr�wyment and late charges due under the Note.
<br /> 2. Fueds tor'Tuw aud lnwrance. Subject to applicable Isw ar to A written waiver by Lender.Bortawer sh�11 pay
<br /> to Lender on tho dsy monthly psyments ue due under the Note�until the Note is paid in fl�ll,a sum(•`Funds")equal to
<br /> one-twcltth of: (a�.yesrly uxa and assessments whieh may attain priority over this Security Instrument; (b) yes�rly
<br /> laxhold payments or ground rents on th= Property� if any; (c) ywrly hazprd insurance premiums; and (d) yearly
<br /> mort�ue insurance premiums,if any.Thae items are called"escrow items."Lender m�y estimate the Funds due on the
<br /> ba,+ia of current data and reasonable atimates of fliture escrow items.
<br /> The Funds shall be held in an institution the deposits or sccounts of which sre insured or guaranteed by a Pederal or
<br /> atate a`rncy(including I.a�der if l.ender is such an institution). Lender shsll apply ehe Funds to pay the acrow items.
<br /> l.rnder may not charge for holding and applying the Funds,analyzing the account or verifjring the escrow items.unless
<br /> Le�►der pays Borrower intercst on the Funds and spplicable lsw permits l.ender to make such a chuge. Borrower and
<br /> I.ender may agra in writing that interest shall be paid on the Funds. Unlas aa agrament is made or applicsble law
<br /> � requires interest to be paid,Lender sh�ll not be required to pay Borrowct any interest or arnings on the Funds. Lender
<br /> a2W1 aive to Horro�ver,without chuge,an�nnusl accounting of the Funds showing credits and debiu to the Funds and the
<br /> purpcue for which each debit to the Funds was made.The Funds are pledged as additional security far the sums secured by
<br /> this Socurity lnstrument.
<br /> If the unount of the Funds held by I.ender,together with the future monthly payments of Funds payable prlor to
<br /> the due data of the escrow items�shall exceed the amount roquired to pay the escrow items when due,the excas shall be,
<br /> at Horrower's opdon,eithet promptly repaid to Borrawer or credited to Horrower on monthly payments of Funds.If the
<br /> amount of the Fnnds held by Lender is not sufiicient to pay the acrow items when due�Borrower shall pay to Lender any
<br /> aaio�t neoessary to make up the deaciency in one or more payments as required by Lender.
<br /> Upon payment in full of all sums secured by this Security Instrument. I.ender shall promptly refund to Borrower
<br /> any Funds held by Lender.lf under puagaph 19 the Properry is sold or acquired by Lender,Lender shall apply�no later
<br /> tbau immediately prior to the sale of the Property or its uquisition by Lender,any Funds held by Lender at the time of
<br /> ' spplicarion u a credit against the sums secured by this Security Instrument.
<br /> ' 3. Applieados of Payments. Unless applicable law provida otherwise,all paymmts r�eived by Lender under '
<br /> pu�agraphs 1 and 2 shall be applied:first,to l�to cbuges due under the Note;second,to prepayment charges due under the � �
<br /> Notr,third,to unounts payable under pusgraph 2;fourth,to intet�est due;and last,to principal due. .
<br /> 4. C�r�Le�a. Horrower shail pay all taxd,as4essmmts,charges.fiAes and impositions attributable to the •� . '
<br />. Property �vhich msy ittein priority,over this Security Instrumrnt. and leasehold paymenu or ground rents. if any. � '�
<br /> Borro�ver ahall t}►ese obli hons in the manner rovided in h 2.or if not d in that manner.Borrower shall • � `�'-
<br /> wy S�� P P�8�P P� +__ .��
<br /> psy them on time directly to the person owed psymen�Horrower shaij promptiy furnisn to unaer aij notices�f unow�u =- _
<br /> to be paid under this paragnph.If Borroaer makes these p�yments directly, Honower shall promptly furnish to Lender .__ _
<br /> raxipb evidencing the p�yments.
<br /> Borrowrer shall promptly discharge any lien which hu priority over this Security Instrument unless Borrower:(a) -
<br /> agras in writing to the paymeat of the obligation secured by the lia�in a manner acceptable to Lender;(b)contests in good =
<br /> faith the lirn by.ot defends agsanst enforcement of the lien ia,legal proceedings which in the Lender's opinion operate to =_
<br /> prevent the enforcement of the lien or forfeitnre of any part of the Property;or(e)secures 5rom the holder of the lien an �=
<br /> agroemrnt sstisfictory to Ler►der subordiruting the lien to this Security Instrument.If Lender determines that any part of 'i
<br /> the Property is subject to:lien which may attain priority over this Security Instrument,Lender may give Hatrower a
<br /> notice identifying the tien.Borrower shall satisfy the licn or taice one or more af the actions set forth above within 10 days
<br /> of the Eiving of notice. .
<br /> S. H�sard Iasurance. Borrower shall kap the improvemrnts now ezisting or hereafter erxted on the Property
<br /> inswed�ainst loss by fire,hazurds included within the term"extended coverage•'and any other hazards for which Lender � ;
<br /> requira insuranee. This insurance shall be maintained in the amounts and for the periods that I.�nder requires. The
<br /> insurance canier providing the insurance shall be chosen by Bonower subjoct to Lender's approval which shall not be
<br /> ' unrwonibly withheld.
<br /> All insurance policies and renewals shall be acceptable ta Lender and shsll include a standard mortgage clause. ;��'
<br /> Lender shall have the right to hold the policies and renewals.If Lender requires,Bonower shall promptly give to Lender .
<br /> all receipu of paid premiums and renewal notices.In the event of'loss,Bonower shall give prompt notice to the insurance
<br /> carrier and Lender.Lender anay make proof of loss if not mide promptly hy Bormwer.
<br /> Unless Lender and Borrower otherwise agra in ariting,insurance pracoeds shall be applied to restoration or repair
<br />� of the Property damaged,if the restoration or repair is aconomicaUy feasible and Lender's security is not lessened.If the
<br /> restoration or tepair is not economically feasible or Lender's security would be lasenod,the insurance proceeds shall be
<br /> app3ied to the sums secwod by this Secnrity lnstrumtnt,whethv or not then due.with any excess paid to Borrower. If
<br /> ' Horro�vtr sbsndons t6e Property,or does not answet within 30 days a notice from Lcmder that the insurance csrrier hss
<br /> o�'ered 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 se�ured by this Security Instrument,whether or not then due.The 30-day period will hegin
<br /> wrhen the noqa is given.
<br /> . Unless Lender and Borrower otherwise agra in writing.any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments roferred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under psngnph]9 the Property is acquired by Lender.Borrower•s right to any insurance policies and proceeds resulting
<br /> from dunage to the Froperty prior to the acquisition shall pass to Lender to the eatent of the sums secured by this Secnrity .---_ _
<br /> Instrumrnt immediately prior to the acquisition. '
<br /> 6. Preaenadon and Mainteeance ot Proper�;Leaseholds. Borrower shall not destroy.damage or substantially
<br /> change the Property. allow tbe Property to deteriorate or commit waste. lf this Security lnstrument is on a leasehold, '
<br /> . 8orrower shall comply with the provisions of the lease.and if Borrower acquires fee title ta the Propeny,the leasehold and " ,
<br /> fee titk shill not merge unless Lender sgrees to the merger in writing.
<br /> 7. Protection of Lender's RiQbb in the Property; Mortas�e lnsurance. If Borrower fails to perform the �
<br /> eovenants and tgreements contained in ehis Security instrument,or there is a legai procading that may significatetly a}fect
<br /> I,,,_ Lender's rights in the Property(such as a proceeding in bankruptcy. probate, for condemnation or to enforce laws or
<br /> rejulstions).then L.ender m�y do and pay for whatever is necessary to protect the value of the Property and l.ender's nghts
<br /> in the Prapet�y. Lender's actions m�y include paying any sums secured by a fun which has pnor��y ovrr this Secunty ~
<br /> Insttument,appeanng in coun,paying reasonable attomeys'fees and entenng on the Propeny to make repa�rs.Although ��
<br />' Lender msy take actian under this paragraph 7,Lender does not have to do so �
<br /> Any amounts d�sbursed Ay I.ender under this paragraph 7 shall b�come add�tional drbt of Borrower cecured by this j• -
<br /> Serur�ty Instrument Unless Bprrrywer end Lender agree to other t�rms of pa,yment.these am�untti shall t+ear intere�t from
<br /> "!Ae date of disbur!►ement at the Note rate and shall br payuhle, w•irh �nierest, upan n��uce lr�m l endcr u� R��rr��w•er
<br /> requesnng payment
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