$§ter 162579
<br />UNIFORM CO I.NA%ts Hio rrgw cr and Lender c otenant and dr_recasf,lf/1w,
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. B rrimer ,flat] promptly pith w hen disc
<br />the principal of and interest on the debt evidenced by the Note and any prepay inc•nt and ]aie charge, due under t he \otc
<br />.'. Funds forTaxes and insurance. Subiect to applicable law or to a tyrtien water by Lender. Borrower shall pay
<br />to Lender on the clay monthly payments are clue under the Note. until the time is paid in full, a slim (" f ands•' i equal iv
<br />one - twelfth elf (a) yearly taxes and asuKsmcnts which may attain priority over this Security Instrument. (h) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard Insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These 'items are called "escrow items." ]_ender may estimate the Funds due Inn the
<br />hasisofcurrent data and reasonable estimates offutureescrow• items.
<br />The Funds shall he held in an in,-.I tution Ihedeposits or accounts of which r,re ur,ured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow itenis
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a .:Marge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be paid. Lender shall not be required to pay Itnrrower any interest or carnmgs on the Fuld,. Lender
<br />shall give to Borrower, without charge, art annual accounting of the Funds showing credit, and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds arc pledged as additional security for the Burns secured by
<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 clue dates of the escrow items. =hall exceed the amount required to pay the escrow Items when duc. the escc,s shall be,
<br />at Borrower's option. either promptly repaid to Borrower or credited to Borrower on nionthty payments of Fund, If the
<br />amount of the Funds held by Lender i, not sufficient to pay the escrow Items •viien due. Borrower shall pity to Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender
<br />Upon payment in full (,f all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Funds held by !.ender. if under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Propert•, or its acquisition by Lcnder, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security instrument
<br />3. Application of Payments. Unless applicable law pro.•ides otherwise, all payments recened by Lender under
<br />paragraphs 1 and 2 shall he applied: first, to late charges clue under the Note: second, to prepayment charges due under the
<br />:Vote; third, to amounts payable under paragraph 2: fourth, to interest clue: and last, to principal due.
<br />4. Chartres; Liens. Borrower shall pay all taxes, assessments. charges. fines and impositions attributable to the
<br />Property which may attain priority o%cr this Security Instrument. arid lrtsehold paymcnts or ground rents, if any.
<br />Borrower shall pay then obligations tit fire manner provided n; paragraph 2. (,r it not paid ul t .:i manner. Borrimer shall
<br />pay them on tune directly it) the person owed payment fhrrower shall promptly furlits.1 :•, ":)del all notice of amounts
<br />to be paid under this paragraph. If Krrower makes these payments directly, Borrower shall prtmtptly furni di to 1 ender
<br />recei pis ev ide'ne ing ttic payment
<br />Borrower %hall promptly disc'haige any lien which has priority over this Securit \ Instrunictit Hitless Borr(wcr_ (:t)
<br />agree to writing to the pa} ment of ncc obhganon secured by life lien in a manner acceptable to Lcnder; Ili) contests n) good
<br />faith the lien by, or defends again,,[ enforcement of the lien tit, legal proceedings winch In the Lender's opinion operate to
<br />prevent the enforcement of the (left or f_rfeiture of any part of the Property, or (c) secures (foul the holder of the ben an
<br />agreement satisfactory to Lcnder subordutatnig the lien to this Securtiv instrument. If Lcnder determine, that ant p arl of
<br />the Property is subject to a lien which may attain priority owcr ih;s Security Instrument. Lender may gice Borrower I
<br />notice identifying the lien Borrower shall satisfy the hen or take one or more of tine actions ,et forth aholr .rithin 10 day,
<br />of the giving of notice.
<br />5. Hazard Insurance. Borruwcr ,hall keep the irnprotemcnts now existing or hereafter erected tin tote Property
<br />insured against loss by fire, hazards included within the term 'extended coverage' and any other hazards for which Lender
<br />�?
<br />requires insurance. This insurance shall he maintained tit the amounts and for the periods that Lender requires hhc
<br />insurance earner providing the Insurance shall he chosen by Borro%%cr suhject to I ender'-, appimai which ,hall not he
<br />,R
<br />unreasonably withheld
<br />All insurance polimics and rcrIC%al, ,(Sall he acceptable to I_cllder and ,hall include a ,landai "d Mortgage elapse
<br />Lender shall have the right to hold the policies and renewals. If Lender require,, Borrower shall prommptly gtvc to Lender
<br />all receipts of paid premiums and renewal notices fit the event of less. Borrower ,hall gite prompt notice to the insurance
<br />carrier and Lender. Lender may make rrcwfof loss if not made promptly by Burrower
<br />Unless Lender and Borrower otherwise agree in writ irig, In,urtr:c 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 It the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceed, shall hic
<br />applied to the sums secured by this Security Iratrument. whether or not then due. with any excess paid to Borrower If
<br />Borrower abandons the Property, or doors not answer within 30 days if 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 given
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not cytencl or
<br />postpone the due datcof the monthly pay menu referred to in paragraphs l and'_ nr chanf •: the amount e,flhc payments If
<br />under paragraph 19 the Property a, acquired by Lender. Borrower's right to any In,u ,.ace [)(,here-, "-.,d proceed, resuiune
<br />from datnage to the Property prior to the acquisition shall pass to Lender l,1 the• extent (,f the suns secured by t tits Security
<br />Instrument immediately prier to the acquisition
<br />6. Preservation and ]Maintenance of Property: Leaseholds. Horruwer shall not de,tnoy d:unagc fir sub,rinualll
<br />change the Property. alloie the Property to deteriorate or commit waste II' till, scrurat% in,Irulnent is "if a lcaschrdd.
<br />Boreowershalt comnly with the pummton, of the lease. and if Borrower acquire, !cc fide to the Property. the lea,c•hold and
<br />fee tole shall nor merge unkws Lender agrees k• the merger in writing
<br />7. Protection of Lender's Rights in the Property: Mortgage insurance. if BorrmVer falls to perform the
<br />covenants and agreements contained in this Security Instrument, or there is a ire.+i proce•edlnv that m.r, swnific,niii,. affect
<br />Lender'-- rights in the Property (sacfi as a procLeding In hankruptcy, probate. for :ondcnmo Then rr Ii, enforce• law, nr
<br />regulations), then Lender may do and pay for whatever is necessary In protect the nelue d the Propertl and I ender'-, nehrs
<br />in the Property Lender's action% may include paving and, sums secured tti .I her. ..hlrh ha, pnont .•i<•r On, sccurltl
<br />Instrumem, arpearing In court, pityug reasonable attorneys" fees and enicnng on the i'nopa•rrt too mass repau, :illh•ja.!•
<br />Lender may take action under this paragraph - I ender diw, mof h;o e lo do so
<br />Any itnouni, dr horsed by 1 kndel hider this paragf.il f hail flee ill , 1f 111 1 al 11 hl I fl. WI. WIII r ICI k111 -(j ht 0.11
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<br />the ,fait' ref dlshuru ^tae t_ at Ili. \.I! -, rate and shall he f �s tt lc•. anh ....,.CS n l 1,rr1 o ii "1r1.•wrr
<br />:cijuesauix fyatymcnt
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