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87- 104452 UNIFMM CAVENANTs, Borrower and ant and agree as follows: 1. Payinivid afftadpal and Intere@4 Prepayment and Left Borrower shall promptly pay when due the principal of and ' interest on the dek evidenced by the Note and any prepayment and late charges due under the Note. 2. FunillsfarTaxesaadlevagamir. Subject to applicable law or to a written waiver by bender, Borrower shall pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to one4welfth of: (a) yearly taxes and assessments winch may attain priority over this Security Instrument; (b) yearly leaschold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance prermunui, if any. These ' itterns are called -escrow item .^ Lender may estimate the Funds dace on the bous of current data and reasonable estirriates of future escrow items. The I=& shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or stage agency (including Lender if Leader is such an ' institution). Leader shall apply the Funds to pay the escrow items. Lender may M charge for the Funds. analyzing the account or verifying the escrow items, unless Leader pays Borrower interest on the Funds and applicable law permits Leader to make such a charge. Borrower and Leader y agree in writing that interest shall be paid on the Funds.. Unless an agreement is made or applicable law requires interest to be paid, Lender shafi not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by ibis Security Instrument. If the amount of the Fun& held by Leader. together with the future monthly payments of Funds payable prior to g. the due dates of the escrow items. shall exceed the amount required to pay the escrow items when due, the excess shall be, at 's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the ' amount of the Funds held by Lender is not suffickni to pay the escrow items when due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower y Funds held by . if under parattraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later than immediately prior to the sak of the Aroperty or its acquisition by Lender, any Funds held by Lender at the time of at. n asa credit against the sums secu :tidby this Security lnstrurnenl. 3. Appikation of Paymenai. Unkna. zppli ble taw provides o4herwise, all payments received by Lender under paragraphs I arts! 2 shall be applm: first, to late charges due under the Note. second. to prepayment charges due under the Note. third, toamotmis payable under paragraph 2. fourth, to interest due; and last, to principal due. b. Borrower sWi pay all taxes, a. mutts. charges, fiats and impositions attributable to the Property which may attain priorny over this Security instrument. and leaseho4d payments or grouted rents, if any. Borrower Aall pay thew obligations in the manner protided an patagrapti 2,or if not paid in that manner, Borrower shall pay then on time dirmily to the person owed payment_ Borrower shall promtlstly furnish to lender all notices of amounts to be paid tender this paragraph. If Borrower makes these payments dtrcctly. Borrower shall promptly furnish to Lender recripts ev i the pa) ° [s_ Borrower !I promptly drschsrge any l %which has priaatit% over this Se-cueiry Instrument unless Burrower: (a) agrers in writing to the payment atf'the t.Migation secured by the lien in a manner acceptable to Lander; (b) ca+ - -sts in go.:l faith the hen by. or enforcement of the hen in. legal proccedinp which in the Lender'% opinion operate to prevent the enforcement of the leers cm forfeiture rd' any part 4 the Property. tat (c) secures from the holder of the lien an agreement tafactcory to Lender , tang the lien to this purity Instrument. If Lendcr determines that any part of the Property is subject to a hen which may attam priority over this :` rity Instrument, Lender may give Borrower a notwe ideat4ing the lien. Borrower shall satisfy the hen or take one or more of the actions set forth above within 10 days h ofthegivingetnotict. S. Hanardlownrance. Borrower shall kccpihc orripra?va:nwnis now cxisting or iisreafter erected on the Property rid against loss by tire, hazards mcluded within the t -extended Coverage " and any other hazards for which bender requires . This I be mamiasned in the amowits and for the periods that Lender requires. The misurancit carrier providi ng the insurance "I be t:lia b) Borrower sic t to Lender's approval which shall not to unreasonably withheld All insurance policies a be acceptable to Leader and shall include a standard mortgage clause. Leader shaH have the right to hold the po - and r If Lender requires. Borrower shall promptly" give to Lender all receipts of paid prenuums and renewal notices. In the event of . Borrower shall give prompt notice to the insurance carrier and Leader. Lender y make proctof if not made promptly by Borrower. Unica Leader and Borrower otherwise agree m %ruing, insurance proceeds shall he applied to restoration or repwr of the Property if the restoration or repair is econouncally feasible and Lender's security is not lessened. If the restoration or repair ism economically feasible or 's security would be lessened. the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within ail days a mice from Lender that the insurance carrier has ollerad to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair car restore the Property or to pay mum secured by this Security Instrument. whether or not then due. The y period will begin when the mice is given. Unim Lender and Borrower cwtherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Leader. Borrower's right to any insurance policies and proceeds resulting from to the Property prior to the acquisnion shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquiution. 4. awl Borrower shall not destroy, damage or substantially change the Property, aWw the Property to deteriorate or commit waste. if this Security Instrument is on a leasehold. Borrower 1 c y with the pnmuonsof the lease. and if Borrower acquires fee title to the Property, the leasehold and fee title sW1 not unless to the merger in writ 7, Pteftelien of Leader's in the PropetW, MorfgW Insurance. If Borrower faits to perform the covenants and agreements c'onuuned in this Security Instrument, or there is a legal proceeding that may significantly afi'ect Leader's rights in the Property (such as a proceeding in bankruptcy. probate. for condemnation or to enforce laws or rtguihavxw1 then Leader may do and pay for whatever is necessary to protect the valise of the Property and Lender's rights in the Property. Lender's actums may include paying any sums secured by a lien which has priority over this Security Instrument. appearing in court. paying r W fees and entering can the Prclerty to make repairs. Although L Lender "y take action under this phi 7. Lender does not have to do so. Any amounts disbursed by Lender under this 7 shall bcc it tonal debt of harrower secured bythis . Instramem Unless to other terms of payment, these amounts shall tear tnierest from the of , t at the Note rate lI be payable, with interest. it xm i c4we from l.cn der to Ilaarrower TOPedmo