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<br />UNIFORM COVENANTS. Borrower and Lender covelllllll and agree ll~ follows:
<br />I. Payment of Principal and Interest; Prepayment nnd l.nte CllIlrRcs, Borrower ~hall pmmptly pay \\'hell due
<br />the principal of and interest onlhe debt cvidcm:ed by Ihe Note and 1I11Y prepayllleni and late chllrgcs duc undcr Ihc NOlI.'.
<br />2. Funds for Taxes and Insurance. Subject to lIpplicllblc law 01 to a written Wlllver by Lcnder, Borrower shall pay
<br />to Lender 011 the duy monthly payments arc due under the Note, until the Noll.' i~ paid in full, a sum ("Funds") cquallo
<br />olle-Iwelfth of: (a) yearly laxes and assessments which may attain priority over this Securily Instruplent; (b) yearly
<br />leasehold pa)'ments or ground rents on the Property, if any: (e) yearly halard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items arc called "escrow items," Lender may estimate the Funds due on the
<br />basis ofculTent dlltllllnd rellsonable estimates of future escrow Itellls.
<br />The Funds shall be held in an institution the deposits or account<; of which arc insured or guaranteed by a federal or
<br />stnte agency (including Lender if Lender is such an inslitution). Lender shall apply Ihe Funds to pay the escrow items.
<br />Lender Illay not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest 011 the Funds and applicable la\\' permits Lender 10 make such a charge, Borrower and
<br />Lender mllY agree in writing that interest shall be paid all the Funds, Unless an agreement is made or applicable la\\'
<br />requires interest to be paid, Lender shall not be required 10 pay Borrower any interest 'lr 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 \\'as made, The Funds arc pledged as additional security for the sums secured by
<br />this Seeurity Inst rument.
<br />If the alllount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to
<br />Ihe due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be,
<br />at Barrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender allY
<br />amounlnccessary to make lip the deficiency in one or more payments as required by Lender.
<br />Upon payment in 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 hller
<br />than immediately prior to the sale or the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by t his Security Instrument.
<br />3. Applieation of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: lirst, 10 late charges due under !he Note; second, to prepayment charges due under the
<br />Note: third, to amounts payable under paragraph 2; fourth, to interesl due: and last, 10 principal dUe.
<br />4, Charges; Liens. Borrower shall pay all taxes, assessments, charges. fines and impositions attributable to the
<br />Property which may atlain priority over this Security Instrument, and leasehold payments or ground rents. if any.
<br />Borrower shail pay these obligations in the manner provided in paragraph 2, or if no! 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 paragraph. If Borrower makes these payments directly, Borrower shall promplly furnish to Lender
<br />receipts evidencing t he payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligalion secured by the lien in a manner acceptable to Lender; (1)) contests in !lood
<br />faith Ihe lien by, or defends against enforcement of Ihe lien in, legal proceedings which in the Lender's opinion ope rat<: to
<br />prevenl Ihe 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 the lien 10 this Security Inslrument. If Lender de!e~mines that any part of
<br />the Property is subjecI to a lien which may Mtain priority over this Security Instrument, Lender may give Borrower a
<br />notice 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 notice,
<br />5. Hazard In'Ourllnce. Borrower shall keep the improvements now existing or hereafter erecled on the Property
<br />insured <~gainst loss by fire, hazards included within the term "exlended coverage" and any other hazards for which Lender
<br />re((lires insurance. This insurance shall be maintained in the amounts and for Ihe periods that Lender requires. The
<br />insurance carrier providing Ihe IIlsurance 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 />Lender shall have the right to hold the policies and 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 notice to the insurance
<br />carrier and Lender. Lender may make proof orloss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds 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 nol lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, Ihe insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid 10 Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered 10 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 secured by this Security Instrument, whether or not then due. The 30-day period will begin
<br />when the notice is given,
<br />Unless Lender and Borrower otherwise agree in writing, any '.Ipplication of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred 10 in paragraphs I and 2 or change t he amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender, Borrower's righlto any in~urance policies and proceeds resulting
<br />from damage to the Properly prior to the acquisition shall pass to Lcnder to the extenl of the SUIllS secured by this Security
<br />In<;trument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substllntially
<br />change the Property, allow the Properly 10 deleriorllte or commil wasle. If this Security Instrument is 011 a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to Ihe Property, the leasehold and
<br />fee title shall not merge unless Lcnder agrees to the Illerger in writing.
<br />7. Prolection of Lender's Rights in the Propert)'; Mortgage Insurance. If Borrower fails 10 perform the
<br />covenants and agreements contained in this Security Instrument, or there is ale!,lal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding ill bankruplcy, prohate, fnr t'll1ldemnallOn or to enforce laws or
<br />regulations), then Lender Illay do and pay for whatever is nece<;sary to protect the \ allle "ftlll: Properly and Lender's rights
<br />in the ProperlY Lender's actions may include paying any sums secured by a lien wInch has priority over Ihis Security
<br />Instrument, appearing in courl, paying reasonable attorneys' fees and enlerlng on the I'rnpal} 10 make repairs. Although
<br />Lender llIay take action under this paragraph 7, Lender docs 1I0t have to do so
<br />Any amollnts disbursed by Lender under this paragraph 7 shall hen)!}le addlllllnal deht of Borrowa secured by thiS
<br />Security Inslrulllent. Unless Borrower and Lender agree Il. other terms nfpayment, Ihese all10unts ,hall bear llllaest frnm
<br />the d..le or dishursement al the Note rate and slull be payable, wllh IIIteres1. UPPll 1101 In' 1'[(1111 I.emk'r 1<' Ilnrnm a
<br />requcsting paymc:nt.
<br />If Lellder requlTl:d 1ll00tgage insurance as a cOI1(\ttion of rnaklllg Ihl' 101111 ,ecun,d h) Ihls Sn'uflt; II"llIllI1enl.
<br />Borrower shall pay Ihe premlUIllS reqUired 10 mallltaill the II1<;UnlIlCe 111 eifel'! lllud such 1I111l' as Ih.. Il'qllln'l1ll'1l1 1"'1' Ihl'
<br />IIlMIT,lIll'e 1'.-rI'lIllllles 111 a<.:,."ord,lnct' With Borrower's alld Lt.nder', WTltfl"n agreemenlll! :lI'I'IIL';Ihk la\\
<br />K. In\pcctlun. L('lltler nr It, agellt Illay make rea~onahlt- eillrlt'S UpOIl 'IIHIIII'I'<",'II"ns "t Ihl' I'I"~'(,II\ I ,'ll<kl
<br />~halll!l\t' lIi>rrn\\n IIIl1ll'C allhc' llllw IIfOl i'f1nr to illl 1II'l'el'llUlI spc.nfYlllg tt'lIs"Il<lhk CIlI't' I<'llhl' '"'lwllll'!!
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<br />88- 101592
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