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88- 104568 UNrFORM COVENANTS. Borrow.r and Lend.r cov.nlint and agree &S follows; 1. Paym.nt of Principal ad Int....t; Prepaym.nl and Lat. Charges. Borrow.r shall promplly pay wh.n due Ih. principal of and int.resr on rho d.bl .vid.nced by rho Not. and any pr.paym.nt and lat. charges due und.r th. Not.. 2. Fundi for Tun and IlUIuranc.. Subjeclto applicabl.law or to a writt.n waiv.r by L.nrl.r, Borrower shall pay 10 Lend.r on Ihe day monthly paym.nts are due und.r the Note, until the NOI. is paid in full, a sum ("Funds") .qualto one-lw.Jnh of: (a) yearly taxes and assessm.nts which may attain priority over Ihis Security Instrum.nl; (h) yearly l.....hold paymenls or ground renls on the Property, if any; (c) yearly hazard insuranc. pr.miums; and (d) yearly mortgage insurance premiums, if any. These it.ms are called "escrow it.ms." L.nd.r may estimat. the Funds due on Ih. basis of currenl data and reasonable estimates offutur. escrow it.ms. Th. Funds shall be held in an instilution Ih. deposits or accounls of which are insured or guaranleed by a federal or state agency (including Lender if Lender is such an institution). Lend.r shall apply th. Funds to pay th. escrow items. Lender may not charge for holding and applying Ih. Funds, analyzing th. account or verifying th. escraw items, unless Lender pays Borrower interest on Ihe Funds and applicable law permits Lend.r to make such a charge. Borrower and Lender may agree in writing that int.rest shall be paid on the Funds. Unless an agreement is made or applicable law requires interes! to be paid, Lend.r shall not be required 10 pay Borrow.r any interesl or earnings on the Funds. Lender shall lPveta Borrower. withoUl charge, an annual accounting arlh. Funds showing credils and d.bits ta Ih. Funds and the purpose for which OloCh debit to Ih. Funds was made. The Funds are pledged as additional security far th. sums secured by Ihis Security Instrument. If the amount of Ih. Funds held by Lender. logeth.r with th. future monlhly payments of Funds payabl. prior 10 the due dates of the escrow items, shall exceed the amounl required 10 pay th. escrow items wh.n due, th. .xcess shall be. al Borrower's option, either promptly repaid to Borrower ar crediled 10 Borrow.r on monlhly payments of Funds. If th. amount af th. Funds held by Lender is not sufficient 10 pay the escrow items wh.n due, Borrow.r shall pay to Lend.r any amount necessary to make up the deftciency in one or more payments as reqUIred by Lender. Upon payment in full or all sums secured by Ihis Securily Inslrumenl. Lend.r shall promplly refund 10 Borraw.r any Funds h.ld by Lend.r. If under paragraph 19th. Property is sold or acquired by Lend.r, Lend.r shall apply. no later than immediat.ly prior 10 the saI. or th. Property or lis acquisilion by Lend.r, any Funds held by Lend.r atlh.tim. of application.. a credit againstth. sums secured by Ihis Securily Ins!rum.nl. 3. AppUc:atlOD of P1r)'mellta. Unless applicabl. law provides oth.rw.se, all paymenls received by Lend.r und.r paragraph. I and 2 shall be applied: fint, 10 lal. charges due und.r Ih. NOI.; second. 10 prepaymenl charges due und.r Ih. NOI.; Ihird, 10 amounts payabl. und.r paragraph 2; fourth, 10 IOI.resl du.; and lasl. 10 prinCIpal du.. 4. CIIulIee; U-. Borrower shall pay all taxes, IWOSSm.nts. charges, fines ana impositi!!!Is anributabl. to Ih. Property which may attain priorily ov.r Ihis Security Inslrument, and leasehold payments or ground rents, ir any. Borrower shall pay Ihese obliptions in rho manner provided in para.raph 2, or If nol paid in Ihal mann.r, Borrow.r shall pay rhem on rim. direcrly 10 th. penon owed payment. Borrow.r shall promptly furnish 10 Lender all norices of amounts ro be paid under this paragraph. If Borrower makes Ihese paym.nll directly, Borrow.r shall promptly furni.h 10 Lend.r receipts evidenclO' the payments. Borrower shall promprly discharse any hen which h.. pnonly over IhlS Secunty In.trum.nl unless Borrow.r: (a) agrees 10 writing to rhe paymenl or rho oblilarion secured by Ih. h.n 10 a mann.r acceptabl. to Lend.r; (h) conlests in good fairh the lien by, or defends aplnS/ enforcement of Ih.lien in. lopl proceedin.. which in lhc Lend.r's apimon operale to prevenl the enforcemenl of Ih. lien or farfellurc of any part of th. Property; or (c) secures from Ihe hold.r of th. h.n an alrccmenl salisfactary 10 Lender .ubordlOalinl Ih. hen ra IhlS Securily Inslrumenl. If Lend.r d.lermines Ihlr any part of th. Property is subjecr 10 a lien which may allain priariry over Ihis Secumy Inslrumenr. Lend.r may gi.. Borrow.r I narice identifyin. Ih. lien. Borrow.r .hall salisfy Ihe hen or lak. on. or more of Ih. acUons set forth above wilhin 10 dlYs arlh. Iivinl of nalice. S. HuanlI_. Borrower shall keep the Impro.ements no... ....Iing or h.raCler erecred on Ih. Property insured again.. loss by fire, haZlrdS included ...uhlO rh.lerm .'.xlended co..rag." Ind Iny olh.r haZlrds for whIch Lend.r requir.. insurance. This msurance shaJl be malnlalned In Ih. Imounls ami for Ih. penods lbol Lender requires. Th. insurance carri.r providinllh. insuranc. shall be chosen by Borrow.r subJ<'Ct 10 Lend.r's approval which shill nal be unre&lOllably wirhh.ld. All insurance polici.. and ren....ah shall be acceplable 10 Lender and .hall IOclud. a stadard mort...e clause. Lender shaI1 have Ihe righr 10 hold Ihe polici.. and ren.wab. If Lend.r reqUires, Borro....r .holl promplly give 10 Lender all receipli of paid premiams and renewal nOli.... In rhe evenr or lou, Borraw.r .hall.... prampl nolice 10 rhe insurance carrier and Lender. Lender may make proof of loss if not made promplly by Borrow.r. Unl_ Lender and Borro....r alh.....ise alree in ...riunl' msurance proceeds shall be applied to restoralion or r.palr of rhe Property damaaed, if the rarararion or repair is cconOlDlcally feasibl. and Lender's security is not ICSiOIIed. If rho raroration or repair is nor economically feasible or Lend.r's securily would be lCSSCf'ed. Ihe insurance proceeds shall be applied 10 the .ums secured by this Security InS/rument, wh.lh.r or nol Ihen due, with any excess paId to Borrower. If Borrower abandons the Property. or does not answ.r wilhin 30 days a notic. from Lend.r Ihat rho insurance carrier has otrered to selll. a claim. lhen Lender may collecr Ih. IOsuranc. proceeds. Lend.r mlY u..lh. proceeds 10 repair or reslor. rho Property or to pay sums secured by rhis Security Instrumenl. whelher or nol Ihen du.. Th. 3O-dlY period will be.in when rhe notice is pven. Unl_ Lender and Borrower OIherwise a.ree in writing. Iny apphcarion of proceeds 10 pnncipal shan nal..tend or postpone rhe due dal. oflhe monlhly payments referred 10 in para....ph. .I Ind 2 or chang. Ih. amounl oflhe paym.nts. If under paragraph 191h. Property is acquired by Lender, Borrower'. nghllo any msurance policlcs and proceed. resullml from dIunaa.IO lhe Property prior to the acquisition shall pass 10 Lender 10 th. .xl.nl of Ih. sums secured by Ih.. Secunly Instrumenl immediately prior 10 the acquisition. 6. ~ and MaiJI_ of Prv,erJr; Leuebolds. Borro....r shall nol destroy. dlmag. or subslanllllly chanae the Property, allow the Praperty 10 deterioral. or cammil .....te. If .his Secunly Instrum.nt .. on a r....hold. Borrower shall comply wilh Ih. provisions afthe I..... and if Borro....r acquires ree 1111.10 Ih. Property, Ih.I....hold and fee rille shall not mer.. un..... Lender agr....la lhe meraer in writinl. 7. PrGtectloII of leIrder'. R1pb In I'" Property; Mort.... Insurance. If Borro....r flil. 10 perfono th. covenants and asreemen.. contained in Ihis SecurilY Insrrument. or ther. .. a I.gal proceeding rhll may sign.ficanlly l!fecl Lender's rilh.. in the Property (such.. I proceeding in bankruptcy. probal., for condemnallon or 10 enforce Ilws or .....larions).lhen Lender may do and pay for whlt..er is necessary 10 prolectlh. valu. ofth. Property and Lend.r's righlS in the Properly. Lender's aclions may includ. payinl any sum. secured by I h.n ...hich has pnonly o..r Ih.. Secunly Instrument, appearinl in court, paying reasonabl. IIIom.ys' f.... and enl.nng on Ih. Property to mlk. r.palr' ....lIhough Lender may lake aclion under this paralrlph 7, Leoder does not have 10 do so Any amounll disbursed by Lend.r under Ihis paragraph 7 shall become addlllonal d.bl of Borro....r secured by Ih.. 5ecunly Inslrum.nt. Unl_ Borrow.. snd Lender air.. to orh.r I.nos of paym.nl. these amounls .hall bear ml.resl from the dale of dRbuncmerll .. the NOIf: ratr and shall be pIIyable. wnh Inrerest, up:m noUce from LcndC'r 10 Borrowrr r<quoslln. payment.