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<br />U%1FORM COVEN A, N;Ts BOMoWCI acrd L :CnZltr and arrerastollcl-
<br />,eC, ---
<br />1. Payment of Principal and laterest: Prepayment wmeat and Late CIUMMM.- B )TT,%%rCT ..hall P %kt T! -1,1v
<br />the principal of and interest on the debt evidenc et} fns the Note and am n7ctillvirien I and late chaTacs dii unde-, tht Notv
<br />2. Funds for Times soidlasiarance. Suhmcl Waripficabic iaA OT to a written waive by LendeT Borrsl-%e! shitlj I at
<br />to Lender on the day monthly payments are due
<br />under the `vote, unit' the %nte is paid in full, a sum ( "Fund equal to
<br />tine- twelfth of: (9.1 yearly taxes and assessments which may attain priori-%. iver this Security Instrument. it!
<br />leasehold payments 3 or ground rents on the Property. if any; i c i yen-1 , y hazard insurance premiums: and (d) %caiix
<br />mortgage insurance premiums. if any. The items are called "escrow items - Lender may estimate the FundN due on The
<br />basis of current data and reasonable estimates of future escrow items
<br />The Funds shall be held in an institution the deposits or accnuntsoif which are insured or guaranteed b% ii federal Or
<br />state agency (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 the Fund,,. analyzing, the account or verifying, the escrow items, unless
<br />Lender pays Borrower interest or the Funds and applicable law permits Lender to make such a charge Borrower and
<br />Lender may agree in writing that interest .hall be paid on the Funds Unless an .agreement is made or applicable lit%%
<br />requires interest to be paid, Lender shall not be required to pad. BcirrawcT any interest or earnings .
<br />s an the Funds. Lender
<br />shall give to Borrower, without charge, an annual accountincof -Oic Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Fund; are pirdged as additional security for the sums secured
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender. together with the future monthly payments of Funds payable prior to
<br />the due date-, of the escrow items. shall exceed the 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 motithhy payments of Funds If the
<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 payment, 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 Fund- held by Lender. If under -paragraph 19 the Property is sold or acquired by Lender. Lender shall appiy, no later,
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall he applied: first, to late charges due under the Note: second, to prepayment charges due under the
<br />Note: third, to amounts payable under paragraph 2: fourth, to interest due; and last, to principal due
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments. charges, finL-, and impositions attributable to the
<br />Property which may attain priority over this Security Instrument. and leasehold payments Or ground Tents. if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not 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 the payments.
<br />Borrower shall promptly discharge any lien which has priority over this SecuntN 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 to
<br />prevent the enforcement of the lien or forfeiture of any part of the Properry: or (c) secures from the holder of the lien art
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property is subject to alien which may attain priority over this Srcuntv Instrument. Lender may give Borrower a
<br />notice identifying the lien Borrower shall sattify the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice
<br />S. Hazard Insurance. Borrower shat! keep the improvements now extstinz or hereafter erected on the Property
<br />Aured 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 in the amounts, and for the period.,, that Lender requires The
<br />insurance carrier providing the insurance shall he chosen by Borrower subiect to Lender's approval which silall not he
<br />unreasonably withheld.
<br />All insurance policies and renewals shall he acceptable to Lender and shall include a standard mortgage clause
<br />Lender shall have the right to hold the TK)Iicit% and renewals If Lender requires, Borrower shall promptly give 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 PTOOf of loss ifriot made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall he applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened if the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall he
<br />applied to the sums secured by this Security Instrument, 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 that the insurance carrier has
<br />offered 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 Instrument. whether Or not then due The 30 -day period Will begin
<br />when the notice is giver.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceed,,, to principal shall not extend or
<br />postpone the due date of the monthly payments referred in in paragraphs 1 and 2 or change the amount of the payments If
<br />under paragraph 1q the PTOperIN. is acquired by Lender, Borrower's right to any insurance policies and proceeds resultink
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured hy this Strcurit}
<br />Instrument miniLdiateIN prior to the acquisition
<br />6. Preservation and Maintenance of Property; I.Amsehoicls. Borrower shall not destroy. damage or substarit tali
<br />change the Property, allow the Property to, deteriorate or commir, waste If this Security Instrument is on it leasehold.
<br />Borrower shall comply with the proyisi-aii . is of the lease, and if Borrower acquires fee title to the PropertY, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing
<br />7. Protection of Lender's Rights in the Property. Mortgage Insurance. If Borrower fails to nerforn, the
<br />covenants and agreements contained in this Security instrument, m there u, it tegal proceeding that nun sLrT11fiC.aT11k aIflei:Z
<br />Lender's rights in the Property (such as a proceeding In bankruptcy. probate, ior condemnation oT to enfOli:t• 1.1%41 OT
<br />regulation,.,"). then Lender may do and pap to' whatever 1" necessary io protec,, the value nil the Property and Lender*s ilviit,
<br />r the Property Lenders actions nwc . tic'udc paynig al- sums scc ured a iten which has prorti -r, 1u• , sr u T 1!
<br />Instrument, appearing it) --our! tliMng !eilsorlatilf, allome, jr•-, anti enterer nn Tiiv llr:iinrl\ i:, rra4x 7r
<br />lender nuty tAr actiot, tinciff Q- Lender Joe, no hil-tv I- do so
<br />Anv arni-writs dishur%ed t-s I. vnaeT uncie, Ihi, paragrapti 7 shall tie oru adL'Imolud debt of li"! I ,µr! ...ere
<br />Sex unto It
<br />istrumew 1.�riirs, Iivr nwr and I t-mR-1 .girt !f :),,her It•IMN al 1111VTTIVII!
<br />the Clutf ol Als"orwinev: !! th" N,itv 7,0C JhLi J!16n I", Ltpor no!ict
<br />pil, 111f.11:
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