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<br />'UNIFORM COVENANTS. Borrower and Lender coven ani and agree a, follows: 104606
<br />I, Payment of Principal and Interest; Prepayment and Lale Charges. Borrower shall promptly pay when,due
<br />.he principal of and interest on Ihe debt evidenced by Ihe Nole and any prepaymenland lale charges due under Ihe NOle.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shllll pay
<br />10 Lender on the day monlhly paymenl' are due under the Note, untilthc Notc I, paid in full, a ,urn ("Fund,") equIII to
<br />one-twelfth of: (a) yearly laxes and assessments which may allaln priority over Ihi, Securily In,lrumcnl: (bl yellrl)'
<br />leasehold payments or ground rents on Ihe Property, if any; (c) yearly hazard insurance premium,; and (d) yellrly
<br />mortgage insurance premlums,lfany. These items are called "escrow items," Lender may e'limale Ihe Fund, due on Ihe
<br />basis of curren I dala and reasonable eslimales offuture escrow ilem',
<br />The Funds shall be held in an institution Ihe deposits or accounts of which are in,ured or guaranleed by a federal or
<br />Slate agenc)' (including Lender If Lender is such an institution), Lender shall apply Ihe Funds to pay Ihe e,crow item"
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items. unless
<br />under pay, Borrower interest on the Funds and applicable law pennil, Lender 10 make such a charge. Borrower and
<br />under may agree in writing that inleresl ,hall be paid on the Funds, Vnles, an agreement is made or applicable law
<br />requires inlereslto be paid, Lender shall nol be requircd 10 pay Borrower any intere't or earning' on Ihe Fund,. Lender
<br />shall give to Borrower, wilhout charge, an annual accounling of the Funds ,howing credits and debits 10 Ihe Fund, and Ihe
<br />purpnse for which each debit to the Fund, was made. The Fund, are pledged as addilional securily for Ihe ,urn' ,ecured by
<br />Ihis Security Instrument.
<br />If the amounl of Ihe Funds held by Lendcr, togelher wilh the futurc monthly payments of Fund, payable prior to
<br />the due dates of the escrow ilems, shall exceed Ihe amount required 10 pay Ihe escrow itcms when due, the excess ,hall be.
<br />al Borrower's oplion, eilher promptly repaid 10 Borrower or credited 10 Borrower on monlhly paymenls of Funds, If the
<br />amount of the Funds held by Lender is not sufficient 10 pay Ihe escrow items when due, Borrower shall pay to Lender any
<br />amount necessary 10 make up Ihe deficiency in one or more payments as required by Lender,
<br />Upon payment in full of all sums secured by Ihi, Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property I, sold or acquired by Lender, Lender ,hallappl)', no later
<br />than immediately prior 10 Ihe sale of Ihe Properly or ils acqui,ition by Lender, any Funds held by Lender al the lime of
<br />application as a credil againstlhe sums secured by Ihi, Security In'lrumenl.
<br />3. Appllcatlan of PaymentJ. Unless applicable law provides otherwi,c, all paymenls received by Lender under
<br />paragraph, I and 2 ,hall be applied: firsl, 10 late charges due under Ihe NOle; ,econd, 10 prcpayment charges due under the
<br />Note; third, 10 amount' payable under paragraph 2; fourth, to inleresl due; and la't, 10 principal due.
<br />4. Charge.; Lien.. Borrower shall pay alllaxes, assessments, charges, fines and impo,ilions attributable to I hc
<br />Property which may allain priority over Ihis Securily Inslrumenl, and lea,ehold payments or ground rent', if any,
<br />Borrower shall pay these obligations in Ihe manncr provided in paragraph 2, or ifnot paid in that manner, Borrower ,hall
<br />pay thcm on lime directly 10 Ihe person owed payment. Borrower shall promplly furnish 10 Lender all notices of amount,
<br />10 be paid undcr this paragraph. If Borrower makes these payments direclly, Borrower shall promptly furni,h 10 Lender
<br />receipts evidencing the payments.
<br />Borrower shall promplly discharge any licn which has priority over thi, Securily Instrumenl unle.. Borrower: (al
<br />agrees in writing to Ihe payment oflhe obligation secured by the lien in a manner acceptable 10 Lender; (b) conlests in good
<br />faith the lien by, or defends again't enforcemenl of the lien in, legal proceeding, which in Ihe Lender's opinion opera1e 10
<br />prevcnl the cnforcement of the lien or forfeilure of any part of the Property; or (c) secures from the holder of Ihc licn IIn
<br />agreemenl sati,faclory to Lender subordinating the lien 10 this Security In'trument, If Lender delennincs thaI any part of
<br />the Property is subject to a lien which may altain priority over this Security Instrument, lender may give Bnrro\\'er a
<br />nOlice identifying Ihelien, Borrower ,hall SBli,fy Ihc lien or take one or more of the aClion, set forth above within 10 day'
<br />oflhe giVing of no lice,
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hercafler erected on the Property
<br />insured again't loss by fire, hazards included wilhin thelenn "cxtended coverage" and any other hazard, for which Lender
<br />requires insurance, This insurance shall be maintained in the amounts and for the periods that Lender requirci The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject 10 Lender's approval which shall not be
<br />unreasonably wllhhcld.
<br />All insurance policie, and renewal, ,hall be acceplable to Lcnder and shalllllclude a standard mOrlgage clau,c.
<br />Lender shall have Ihe righlto hold Ihe policies and renewal" If Lender requirc,. Borrowcr ,hall promplly gIve 10 Lcnder
<br />all receipls of paid premiums and renewal nOlicc" In toc evenl of loss, Borrowcr ,hall give prompl nOlice \0 the insurance
<br />carrier and under. Lender may make proof of loss ifnol made promplly by Dorrower.
<br />Unless Lender and Borrower otherwise agree in writing. Insurance proceeds shall be applied to reslOration or repair
<br />of the Properly damaged, if the restoralion or repair is economically feasible and Lender's ,ecurity i, nOllesscned. If Ihe
<br />restoralion or repair is nol economically feasible or under's ,ccurity would be les,cned. the in,urance proceed, shall bc
<br />applied 10 the ,urn, secured by Ihi, Security In,lrument, whether or not then due, with any excess paid to Borrowcr. If
<br />Bonower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to senle a claim, then Lender may collect the insurance proceeds, Lender may use Ihe proceeds to repair or restore
<br />Ihe Property or 10 pay 'urn' secured by Ihis Secunty Instrument. whether or notlhen due, The 30.day period will begin
<br />when the nolice is given.
<br />Unless under and Borrower otherwise agree in writing. Bny application of proceeds 10 principal ihall not e\lcl1() or
<br />pos1ponelhe due date of the monthly pay men Is referred 10 in paragraph, I and 2 or change the amount nf Ihe paymen" If
<br />under paragraph 19 the Property is acquired by under, Borrower's righllo any in,urance policies and proceed, rcsuhing
<br />from damage to the Property prior to the acquisition shall pass to Lender to the eXlent of the lIjum~ <.er.llred by this Security
<br />In!ltrument immediately prior to the acquisition,
<br />6. Presenation and Maintenance of Property; Leueholds. Borrower ,hall not destroy, damagc or SUbSl.lIlJ.lI)
<br />change the Property. allow the Proper1y to deteriorate or commit w8sle, If (his Security Instrument i"i on a leasehold.
<br />Borrower shall comply with the provisiofl5 oflhe lease. and if Borrower acquires fee title to Ihe Property. the lea~ehold and
<br />fee tille .hall nol merge unles, Lender agrees 10 the merger in wriling.
<br />7, Prolectlon of under'. RighI. In the Property; Mortgage Insurance. If Borrower fall, 10 perform ,he
<br />eovenlnls and agreemenu. contoined in this Security Instrumenl. or there is a legal proceeding thnt may 'iigt11ficanll~ atreet
<br />Lender's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or 10 enforce 13\"'" or
<br />regulations). then Lender may do and pay for whalever is nec~sary 10 ",roreclthe value of the Pro~rty nnd 1.end~r'.. n(.!hl~
<br />in Ihe Property. Lender's actions may include paying an)' sum!. secured hy a hen which h3~ pnorll}' n\l'r ,hI" S('L'Uf1I~'
<br />ImMument. appearmg m court. paYing rasonabh: attorneys' f~ and c:ntermg on the Propcr1}' (0 make: repim" .l\l1h,)u~h
<br />lender may lake action under thl! paragraph 7. Lender docs nol ha\'e 10 do "i0
<br />Any amounts. dl'ibuned by lender under Ihis paragraph 7 shall become 3ddlllonal debt of Horm" l'r \C'l urC'o h~ Itll~
<br />St'cUrll) In\uumcont Unle<ls Borrowt'r and tender ngrcoc to olhC'r term' of ra)mC'nl. Ihe~c amnunt.. ~hl)1I tv;1I 1l11('rr\1 from
<br />lhC' dale or dlt,bunt'menl al Ihe Nole raft' and ,hall be pllyahlr, wllh Inlcoresl, upon "("IlleC' from Lt'lIdt't Ip IIIl1lP\Ht
<br />rt'qunllnJ p~)rn('n'
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