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<br /> UNtFORMC'OVENANTS. Borrawer and Lender covenant And�gree+�.s follows: 89�••10 6 V��
<br /> � 1. Pay�aent ot P�incipal�nd Ieterat;Preayment and Late Cha�a, Borro�s�aTl promptly pay when due
<br /> the princlpel of and interest an the de6t evidenced by the Note and any prepaymcnt and late chargesdue under ehe Nate.
<br /> 2. Rued�for Ta�a aad In�urance. Subject to epplicablr taw or to a written waiver by Lender.Borrower shall pay
<br /> tu Lender on the day monthly payments are due under che Nate,unti!the Note ia psid in f�ll,a sum(••Funds")equ�l eo
<br /> one•taelRh of: (�} yearly tiuces and assessments which may attain priority over this Security lnstrument; (b) yearly
<br /> leasehold puyments or ground rents on the Property. if any; (c) ywrly hazard insurance premiums; and (d) yearly
<br /> mortgage insurance premiums�iPany.'These items are called"escrow items." Lender may estimAte the Funds due on the
<br /> bssis af current dnts and reasonable estimates of fUtare escrow items.
<br /> The Funds shall be heW in an institution the deposits or accounts of which ue insured ar guannteed by a federa!or
<br /> state a�rncy (including Lender if I.ender is such an institution}. I,�nder shall apply the Funds to pay the escrow items.
<br /> Lender msy not chsrge for holding and applying the Funds,analyzing the account or verifying the escrow items,unless
<br /> • Lender pays Bonower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br /> Leader may agra in writing that interest shall be paid on the Funds. Unless an agrament is made or appllc�ble law
<br /> • require�lnterest to be paid,I.ender shall not be required to pay Borrower any interast or arnings on the Funds.Lender
<br /> , shal)�ive to Borrower,without clisrge�an annna)accounting ot'the Funds showing credits and debits to the Funds and the
<br /> purpc►�for which each debit to the Funds was made.The Funds are pledged as additiona!security for�he sums secured by
<br /> thisSecw.ty lnsu:ment.
<br /> If'the amount of the Funds held by Lender�together with the tt�ture monthly payments of Funds payable prior ta
<br /> the dne dates of the escrow items�sha�ll exceed the�mount rcquired ta pay the escrow items when due,the excess shall be,
<br /> st Borrower's opdon,either promptly rep�id to Borrower or credited to Borrower on monthly payments of Fnnds. If the
<br /> amount of the Funds held by Lendet is not sufficient to pay the escrow ltems when due,Borrower shaU pay to Lender any
<br /> uaount nece.tsary to make up the deflcieacy in one or more psyments as required by Lender.
<br /> Upon psymeat in f�ll of aU sums secwed by this Sxurity lnstrument, Lender shall promptly refund to Horrower
<br /> sr�y 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 L.ender,any Funds held by Lender at the time of
<br /> applicstion as a cndit against the sums secwed by this Security Instrument.
<br /> 3. Ap�lipttoa ot Paymenb. Unless applicable Iaw provides otherwise.all paymenu received by Lender under
<br /> paraEraphs 1 snd 2 s1�aU be applied:first,to late charges due under the Note;second,to prepayment charges due under the
<br /> Not�third�to amonnts psyable�nder parngraph 2;fowth,to interest due;and last.to principal due. �
<br /> 4. C� I.ieas. Horrower shall pay all tuxes,assessments,charges.flnes and impositions attribuuble to the � :
<br /> Property which may attain priority,ovu this Security Instrument, and leasehold payments or ground rents. if any.
<br /> Botrorver ahall pay thae obligations in the manner provided in paragsaph 2,or if not paid in that manner,Borrower shall ; �"`"
<br /> pay the�a on time directly W the person owed payment.Borrower shall promptly fumish to Lender all notices of amounu !___���
<br /> � � to oe pai�under tbis pusgnph.If Horrower makes these payments dirxtly,Honowu shaJl promptly furnish to Lender ;- .�
<br /> receipu evidencing the paymmts. -_
<br /> Bonower ahaU promptly di�chs�rge any lien which has priority over this Socurity Insirument unless Borrower:(a) =
<br /> agra.s in ariting to the payment of the abligation secured by the lien in a manner acceptable to Leader;(b)contests in good
<br /> faith the lien by.or�efwds against enforcement of the lien in,lega]proceedings which in the Lender's opinion operate to '
<br /> prevrnt the enforcen�ent of the lien or forfeitwe of any psrt of the Property;or(c)setnres from the holder of the lien an
<br /> agr�ment utisfactory to Lender subordinating the lien to this Security Instrument.If Lender determines that any part of
<br /> the Pcoperty is subject to a lien which may attain priority over this Security Instrument, I.ender may give Botrower a
<br /> � notia 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 noUCe.
<br /> S• Harard Ia�nrance. Borrowar shall keep the improvements now existing or hereafiter erxtal on the Property �
<br /> insured aaainst lass by fire.hazards included within the term•'catonded coverage"and any other haznrds for which Lender i. .�
<br /> teguires insurance.?his insuru�ce shall be maintainod in the amounts and for the periods that Lender requires. The ' `
<br /> insurana curier providing the insurance shsll be chosen by Bonower subject to Lender's approval which shall not be ' -
<br /> � uaraaonably withheld.
<br /> i All insurance policies and renewals shall be xeceptable to Lender and shall include a standard mortgage clause. j��'�
<br /> Ltnder ahall hsve the right to hold the policies�u►d 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 notia to the insurance
<br /> carrier and Lender.Lender may make proof of loss if not made promptly by Borrower.
<br /> Unless Lender and Horrower otherwise agra in writing,insurance proceeds shall be appliod to restoration or repair
<br /> of the Property damaged.if the restoration or repair is oconomically feasible and Lender's security is not lessened.If the
<br /> reetoration or repair is no!economically feasible or Lender's security would be le.ssened,the insurance proceeds shall be
<br /> applied to the sums se�nred by tliis Socwity Instrument.w�hether or not then due,with any excess paid to Horrower.If
<br /> , Borrowet abandons the Property,or does not answer within 30 days a notice from I.ender that ttee insurance carrier has
<br /> offend to settte a etum,then Lender may callxt the insurance proce�ds.I.ender may use the procoeds to repair or rcstore
<br /> . the Property or to pay sums secured by this Security Iestrument,whether or not then due.The 30-day period will begin
<br /> when the notice is given.
<br /> Unless Lender and Bonow+er otherwise agree in writing,any application of psoceeds to principal shall not extend or
<br /> postpone the due dtte of the monthly payments referrcd to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under puagraph 19 the Property is acquircd by Lender,Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br /> Instrument immedi�tely prior to the acquisition. %-'---�'
<br /> 6. PrderriNon and Mdntenance o!Propertb,Lease6olds. Borrower shall not destPOy,damage or substantially
<br /> change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehald. .
<br /> Horrower shall comply with the provisions of the lease,and if Borrower acquires fee title tA the Property,the leasehold and
<br /> fa title shall not merge unless Lender agras to the merger in writing. '
<br /> �. Pirotacdoo o! Lender's Ri�6b in the Proyerty; MortpQe Insun�nce. If Borrower fails to perForm the
<br /> coven:nts and sgraments contained in this Security lnsirument,or there is a legal proceeding that may signiflcantly affeci �►
<br /> j Lender's rights in the Property (such as a proceeding in bankruptcy. probate. for condemnation or to enforce laws or
<br /> L. regulations),then Lmder may da and pay for whatever is necessery to protect the value of the Property and Lertder's rights
<br /> in the Property. Lcnder's actions may include paying any sums secured by a lien which has priority over this Security ti
<br /> Instrument,appearing in court,paying ressonable attorneys'fees and entering on the Property to make repa�rs. Although ��
<br /> I.ender may take action under th�s paraRraph 7,Lender does not have t�d�so. �
<br /> Any amounts disbursed by Lender under this paragraph 7 shall becorne additional debt of Borrnwer secured by this r'
<br /> Secunty Instrument. Unless Borrowtr and Lender ag�te to other terms of payment,th��se amounts�hall bcar interest from ��' �
<br /> the date of d�sbursement at the Note ratc and shall be payable, with mterest, upon not�ce Fr�m I.ender to Rorr�wer
<br /> rcquesting payment.
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