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<br />LINIFORMCOVENANTS. Borrorvereud 87-- lo2886
<br />Lender covenant
<br />1.19 at Pei and agree as follows;
<br />Md "I lied IAtawfi Prepy�tt aM Late
<br />the principal of and interest on the debt evidenced by the Note
<br />Borrower shall promptly PaY when due
<br />and an
<br />under the Note.
<br />2. F tin Taxes and It�traeee, Subject to applicable law orrt lea written waiver by Lender,
<br />to Lender on the day monthly
<br />Borrower s all pay
<br />payments are due, under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security
<br />leasehold Payments or
<br />Instrument; (b) yearly
<br />ground rents on the Property, if an (c) yearly hazard insurance premiums; and d
<br />mortgage insurance premiums, if soy. These items are called "escrow items." Lender ()Yearly
<br />liaises Of current data
<br />may estimate the Funds due on the
<br />ad reasonable estimatea of future escrow items.
<br />Fact
<br />The Funds shall be held in an institution
<br />the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to
<br />Lender may not charge for holding and applying
<br />the Funds, analyzing the account or verifying the escrow escrow unless
<br />Pays Borrower interest on the Funds and applicable law
<br />Lender
<br />LendeLender
<br />Permits Lender to make such a charge Borrower and
<br />may agree in writing that interest shall be Paid on the Funds. Unless an agreement is made or applicable law
<br />r interest to be paid, Lender shall not be required
<br />to pay Borrower any interest or earnings on he Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds
<br />Purpose for which each debit to the Funds was made. The Funds
<br />this Security Instrument. and he
<br />are Pledged as additional security for the sums secured by
<br />If the amount of the Funds held by
<br />Lender, together with the future monthly payments of Funds
<br />the due dates of the escrow items, shall exceed the amount required to pay at Borrower's option, either
<br />Payable
<br />items
<br />promptly repaid to Borrower orgredited to Borrower on
<br />due, the s of un shall be,
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due,
<br />Y payments of Funds. If the
<br />amount necessary to
<br />Borrower shall Pay to Lender any
<br />make up the deficiency in one or more payments as required by Lender.
<br />Ulan payment in full of all
<br />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
<br />than immediately
<br />Lender, Lender shall apply, no later
<br />application as a credit against the sums secured by this Security y Instrument. PP Y.
<br />prior to the sale of the Property, or its acquisition by Lender, any Funds held by Lender at the time of
<br />3, AiPlteat0
<br />of Payments, Unless applicable law provides otherwise, all Payments received by Lender under
<br />Paragraphs I and 2 shall be applied, first, to late charges due under the Note; second,
<br />Note; third• to amounts
<br />to prepayment charges due under the
<br />Payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Lam; Llees. Borrower shall
<br />pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Properly which may -.tram priority over this Security Instrurnent, and leasehold
<br />Borrower shall pay these n(iligations
<br />payments or ground rents, if any.
<br />in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />Pay them on pens directly to he person owed
<br />to he Paid under
<br />a�
<br />of amounts
<br />this paragraph. If Borrower makes these Payments di ectly.pBorrowerh hall promptly mp lynfurnish
<br />receipts evidencing the Payments
<br />to Lender
<br />&irrower shall Promptly discharge any hen which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the Payment of the oNiplion secured by the hen in a manner
<br />faith the hen by, or defends
<br />acceptable to Lender; (b) contests in good
<br />against enforcement of the hen in, legal Proceedings which in the Lender's
<br />Prevent the enfiircement of the lien or forfeiture
<br />opinion operate to
<br />of any Part of the Property: or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating he hen to this Security Instrument. if [ender determines
<br />the Property is to a tiro which
<br />that any part of
<br />g the lien,
<br />may attain Pnonty over this Security Instrument, Lender may give Borrower a
<br />notice identifying the Lien. Bormwer shall satisfy the hen or take one or more of the
<br />Of the giving oaf notice.
<br />actions set forth above within 10 days
<br />S. Narard tmswm ce Borrower shall keep the
<br />insured
<br />improvements now existing or hereafter erected on the Property
<br />against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained
<br />insurance
<br />in the amounts and for the Periods that Lender requires. The
<br />earner Providing the insurance shall be chosen by Borrower subject to Lender's
<br />unreasonably withheld
<br />.
<br />approval which shall not be
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard
<br />a
<br />Letisler sites!! have the right to !told the policies include
<br />and renewals. tender requires, all mortgage clause.
<br />shall promptly
<br />all receipts off paid premiums and renewal notices. In the event of toss, Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss of not made
<br />promptly by Borrower.
<br />Unless Lender and &urower otherwise agree in w riteng, insurance proceeds shall be applied to restoration
<br />Of the Pr oPerty damaged, if the restoration or repair is
<br />?
<br />or repair
<br />economically feasible and Lender's security is not rationed. c the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
<br />applied to he sums secured by this Security Instrument,
<br />proceeds shall be
<br />whether or not then due, with any excess paid to Borrower. if
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender
<br />ofered t settle a claim, then Lender
<br />that the insurance carrier has
<br />may collect the insurance proceeds. Lender may use he proceeds to repair or restore
<br />the Property or to pay sums secured by his Secunt Instrument whether or not
<br />when the notice is given. y
<br />then due. The 30 des Y period will begin
<br />Unless Lender and Borrower otherwise
<br />note
<br />agree in writin
<br />postpone flee due date of the g. any application of Proceeds to principal shall not extend or
<br />under paragraph 19 the t monthly Payments rcferred tom Paragraphs I and 2 or change the amount of the
<br />Property is acquired by Lender.
<br />from
<br />dam payments. if
<br />Borrower's right to any insurance policies and proceeds resulting
<br />age to the Property prior to the acquisition shall Pass to Lender to the extent
<br />Instrument immediately
<br />prior to the acquisition. of the sums secured by this Security
<br />C Pf- tr*atiOn and MiurtteeeeCe of
<br />change the ProPet•ty. allow the Pr grower shall not destroy, damage
<br />to deteriorate
<br />or substantially
<br />Borrower shall comply with the prow smy
<br />or commit waste. If his security instrument is on a leasehold,
<br />fee title shall noes mere un IeSU• and if Borrower acquires fee titre
<br />g less Lender
<br />to the Property, the leasehold and
<br />agrees to the merger m writing. the 7.
<br />cAnder s and agreements rsu in this ty "Op umcnt. rtaW li Iegsa1Y. proceeding Borrower fails to
<br />I.en Tian rights in the Pr Perform the
<br />properly (such as a
<br />proceeding in lmnkruptcy, probate, for condemnationiror yto eniforcetlaw�or
<br />r l+t s). then Lender may do and pay for whatever i necroses
<br />» the Property. Lender's necessary to Protect
<br />the value of the Property and Lender's rights
<br />actions my tnel g Y
<br />Instrument, appearing in cswrt, i Y Paying an sums secured by a lien which has priority over this Security
<br />Paying reasonable attorneys, fees and entering
<br />Lend" may take action
<br />on he Property to make rrpairx. Although
<br />under this Paragraph ), Lender does not have to do so.
<br />Any amounts xy by Lender
<br />Unles
<br />under this Paragraph 7 shall lxcome additional debt of Borrower securest by this
<br />Instrument Unless Bsxrower ad Lender agree to other terms of
<br />The s�
<br />t at the Nine rate and shall tx Payment, these amotsits shall bear interest from
<br />r mgpaYment Payable. with interest. upon nonce from I ender to Kni-i wer
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