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<br />' UNIFORM COVENANTS Borrower and Lender covenant and agree as follows 85- 001945
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<br />L Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when (fur
<br />the pnnetpa) ofand interest on the debt evidenced by the Note and any prepayment and late charges due under the Note
<br />2. Funds for Taxes and Insurance, Subject to applicable law or Ina written wailer by. Lender, Borrow cr shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Fund~ ") rqual t,
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security instrument. (hl ,earl,
<br />leasehold payments or ground rents on the Properly, if any; (c) yearly hazard Insurance premiums; and (d) cearl,
<br />mortgage insurance premiums, if any. These items are called "escrow items '• Lender may estimate the Funds due on the
<br />basis ofcurrent data and reasonable estimates of future escrow items
<br />The Funds shall be held in an institution 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 u, pay the c'wruw items
<br />Lender may not charge for holding and applying the Funds, analyzing the account or tenfying the escrow Item,, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds Unless an agreement Is made or appllcahlc I.,%% requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debris to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional secunty for the sums .ectircj ht
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, togetherwiih the future monthly payments of Funds payable prior it I
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow Items when due. the excel .hall he.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Fund, 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 .Ins
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Secunty Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply. no later
<br />than immediately pnor to the sale of the Property or its acquisition by Lender, 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 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, to prepayment charges due under the
<br />4.
<br />Note; third, to amounts payable under paragraph 2; fourth, to Interest due; and last, to principal due.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to The
<br />Property which may attain pnonty over this Security instrument, and leasehold payments or ground rents, if ant
<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 pnonty over this Secunty Instrument unless Borrower lai
<br />agrees in wilting 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 pan of the Property; or (c) secures from the holder of the lien an
<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 a lien which may attain pnonty over this Secunty instrument, Lender may give Borrower .,
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above 'A u I t) d:n s
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the Improvements now exist Ing or hereafter erected on Ittc i'n+pert,
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for tt filch I ender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires i he
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's appr(,,al which I, oil rrol he
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to lender and shad) Include a standard rnortgacc .lausc
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Burrower shall prompil% git e to I ender
<br />all receipts of paid premiums and renewal notices. in the event of loss, Borrower shall gate prompt noucc to the• Insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower
<br />Unless Lender and Borrower otherwise agree in wnting, insurance proceeds shall be applied To re%u,ranon or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security Is not Ics,ened If the
<br />restoration or repair is not economically feasible or Lender's security would he lessened, the Insurance proceeds shall he
<br />applied to the sums secured by this Secunty Instrument, whether or not then due, with any excel', paid to Borntwc•r If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance• earner ha,
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may
<br />when the notice is given. use the proceeds n+ repair or re,rore
<br />the Property or to pay sums secured by this Secunty Instrument. whether or not Then due The 30 -dat pe noe h l ulil .u;
<br />Unless Lender and Borrower otherwise agree In A rlttng, any dpphcation of proceeds to principal shall r t .Vcn,;
<br />puslpone the due date of the monthly payments referred to in paragraphs I and 2 or :hinge the amount of the pay torn: , I!
<br />under paragraph 19 the Property Is acquired by Lender. Borruwrr's nght to any ;c,uil,r,f
<br />from damage to the Property prior to the acquisition shall pass to Lender t(• insurance and pnkrcds the e s
<br />Instrument immediately prior to the acquisition. xtent of the suns. creed 1,% oh„ c
<br />6- Preservation and Maintenance of Property; Leaseholds. Hurrowcr shat! riot destroy, darnage,,r
<br />change the Property, allow the Property to deteriorate or commit waste If this Secunty lost rumens r, „n ,, ;r,,,,. h"I'!
<br />Borrower shall comply with the provisions of the least, and If Borrower acquires fee title tot the Pn,pc•rty, thr 1, ,,,eh,. iii
<br />fee title shall not merge unless Lender agrees to the merger In w ruing 'Ind
<br />7, Protection of Lender's Rights in the Property; Mortgage insurance. If H(antwer
<br />cotenants and agreements contained in this Security Imirurncnt, or there Is e Icgal proecrdult thou rna, „gr,,;;, ,,;,;;,, ,t(,,
<br />Lender's rights in the Property (such as a proreedmg ut hankruptcy, pnthaie. (or ;onoeumati"n o,r r., en!or „• ;,,,,, .•,
<br />regulations), then Lender may dfand pay for whate,eris necessary to protect the,aloe of the l'ropern end I en,L • ,,,,• ,I,
<br />m the Property Lender's actions n,ay Include I,ayntg any ,unit secured by ;, lu•n whr,I, has piwriin
<br />Instrument, appearing In (ours, paying reasonable atturnrys' (ecs and interior . n the I'r ;iris I,, ni.,ke
<br />lender ntaq rake action under this paragraph Lender discs not hale ;n dots.,
<br />'\ny anunrnts dishurscef by I.c•nrler under this Ivrar ntph ° sh,oi he. •n c e,;.l i , u.,l ,:rhl !Hoe rote:
<br />swcuniv Instrunit•nl l.'nless lorrower and I rndcr :,r;rre lo, „flirt tern,. „I i,a,n,rt I Ihes:- .rn,nn!,.h,I he • +` ..
<br />rhr ante n( dnhursenirrtl al Ott, N, )Iv rate 1 shall h <• ,,nehlr airh nrh•r,•v ;I,.
<br />reque,hny lrij meal - i n r, �„ . .•. ! ,.� I(. .. ,,,
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