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<br />88- 103800
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree liS follows:
<br />1. Pa)'llleDt of PriDclpaJ u~ I"teres!; PrepaymeDt ud Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debll:videnced by Ihe Note and any prepayment and late charges due under the Note,
<br />2. FU8dI for Tuesud 11IIUrIUICe. Subject 10 applicable law or to a wrillen 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, II sum ("Funds") equal to
<br />one-twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leuehoJd payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgqe insurance premiums. if any, Thac items arc called "escrow items," Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimalCl of future escrow ilems,
<br />The Funds sban be held in an institution the deposits O~ accounts of which are insured or guaranteed by a federal or
<br />state qency (including Lender if Lender is such an institution), Lender shall apply the Funds to pay the escrow items,
<br />Lender may not charge for holding and applying Ihe Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law pennits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that inlerest 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 Borrow~t. 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 was made, The Funds are pledged as additional security for the sums secured by
<br />this Security lnatrumcnt,
<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 ilems, shall exaed tbe amount required to pay the escrow items when due. the excess shall be.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds, If tbe
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />amount necessary to make up 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 later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held hy Lender at the time of
<br />applicauon as a credit against the sums secured by this Security Instrument,
<br />3. AppUadoa of Pa)'IDeDla. Unless applicable law provides otherwise, all payments received by Lender under
<br />paraataphs I and 2 shall be applied: fint. to late charges due under the Note; second, to prep.ymen: charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and lasl, 10 principal due,
<br />4. C1Iartes; Ueaa. Borrower shall pay all taxes, 8SlIe5Sments. charges, lines 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 nol 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 promptly furnish to Lender
<br />receipts evidencing tbe payments,
<br />Borrower shall promptly discharge any lien which has prionty over this s.:curity Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) 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 10
<br />prevent the enforcement of tbe lien or forfeiture of any part of tbe Property; or (c) secures from the holder of the lien an
<br />qreement satisfactory to Lender subordinaling the lien to this Security Instrument. If Lender determines that any pan of
<br />the Property ilsubject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifyinS the lien, Borrower shaJI 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. HuanllDsurmIce. Borrower shall keep the improvements now CllIStlDg or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "e:ucnded coverage" and any other hazards for which Lender
<br />requires insurance, This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chOKtl by Borrower subject to Lender's approval which shall not be
<br />unrcuonably witbheld,
<br />All insurance policies and renewals shall be accep~ble to Lender and shall include a standard mortpge clause.
<br />Lender shall have tbe riSltt to hold lhe policies and renewals. If Lender requires. Borrower shall promptly sive 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 of loss if not made promptly by Borrower,
<br />Unless Lender and Borrower otherwise agree in writlDg, insurance proceeds shall be applied to restoralion or repair
<br />of tbe Property damaged, if the restontion or repair is economically feasible and Lender's sec"rity is not lessened, If the
<br />tt$lOration or repair is nol economically feasible or Lender's security would be lessened, the insurance procc:a1s shall be
<br />applied to the sums secured by Ihis Security Instroment, whether or not then due. with any excess paid to Borrower, If
<br />Borrower abandons the Property, or docs not answer Yo .thin 30 days a notice from Lender that the insurance carrier has
<br />off'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 secured by this Security Instroment, whether or not then due, The 30-<1ay period will begin
<br />when the notice is,iven,
<br />Unless Lender and Borrower otherwl!IC asree in writing, any application of proceeds 10 principal shall not Clltend or
<br />postpone the d~dateofthe monthly pa)'ments referred to in paragraphs I and 2 or change the amount of the payments. If
<br />under parqraph 19 the Property is acquired by Lender, Borrower's right 10 any IDsurance poliCIes and proceeds resulting
<br />from damale to the Property prior to the acquisition shall pass to Lender to the elllenl of the sums secured by thIS Secunty
<br />Instrument immediately prior to tbe acquwtion.
<br />6. ~atiOll.... MaJateDIIlICe of Properft'i Leuebolda. Borrower shall not destroy, damage or subst.antially
<br />chanse Ihe Propeny, allow the Property to deteriorate or commit waste, If IhlS Secunty Instrument IS on a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquIres fee title 10 the Property, the leasehold and
<br />fee title shall not merle unm Lender al1ee1 to the merBer in writinB,
<br />" Protec:tioa of Le8der'1 alp.. la the Property; Mortpae Inlurance, If Borrower falls to perform the
<br />covenants and alreementt, contained in Ihis Security Instrument. or there IS a legal proceeding that may slgntlicantly affect
<br />Lender's rilhts in the Property (such as a proceeding in bankruptcy, probate, for condemnallon or to enforce laws or
<br />rqulalions), ,hen Lender may do and pay for whatever is necessary 10 protecl the value of the Property Ind Lender's n(thls
<br />in the Property, Lender', actions may include payin. any sums secured by II hen which has pnonl)' over thl' S"un'\
<br />Instrument, appearin, in court. paying reasonable aUorneys' feft and entenng on lhe Properly to make repairs Although
<br />Lender may take &Cllon under thiS paraBr.ph 7, Lender does not have 10 do 10
<br />Any amounts disbursed by under under Ihis par.,raph 7 shall become addlClonal deb. or "(lfrov.'~r ~e..'urC<.1 by Ihl\
<br />Security Inslrument Unl~s Borrower and Lender agree to other lerms of payment, these amounl\ \hall hear IIlIeres. from
<br />the date nf dllbur~ment al Ihe Nole rale Ind shall be payable, wnh Interest. upon nOlll't rrnm Lender ", Rnrr"\Iotl
<br />requestlD' payment
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