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<br />84 - 006416
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<br />l;:o.olFORM COVE:o.oANTS Borrower and Lender covenant and agree a.~ follows:
<br />I. Payment of PrilKipal ami Interest; Pre,aY1DC4t ami Late Charges, Borrower shall promptly pay when due
<br />the pnnclpal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. FIIIIlls for Taxes ami I_ance. Subject to applicable law or to a writtcr, '"cr by Lender. Borrower sball pay
<br />10 Lender on the day monthly payments are due under the Note. until the Note is paio ir. full, a sum ("Funds") equal to
<br />one-twelfth of: (a) yearl~' ta~es and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the propeny. if any; (c) yearly hazard insUfallCC premium$; and (d) yearly
<br />mortgage insurance premiums. if any. These items are called "escrow items." Lender may estimate the Punds1klecm~
<br />basiS of current dalll and reasonable estimates of future escrow items. , ,',> ......' ',"
<br />The Funds shall be held in an institution the deposits or Ki:O\1nts of which are insured or luanmtccd by. ~or
<br />state &FJ1Cy (ilKluding Lender if Lender is such an iastitutioo), Lender shall apply theF~t9,.y:tk4; .'
<br />Lender may not charge for holdinl and applyiaa the Ftmds, aulyzing tile ~t orveri~tlui',
<br />Lender pays Borrower interest on the Funds and appi<:abIc law permits Lender to make suchi!-'
<br />Lender may agree in writing that interest shall be paid on tbe Funds. Unless an aareement is miIl$i'
<br />requires interest to be paid. Lender shall not be required 10 pay Borrower any interest or eami!lpootbe'
<br />shall give to Borrower. without charge. an annual accountir4S of tile Funds showing credits and debits to the
<br />purpose for which each debit to the Funds was made, The Funds are pled~ as additional security for the sums ~',!!,
<br />this Security Instrument. " ,".., .,>i,>',
<br />If the amount oflheFunds held by Lender, logether with the future monthly paymentsofPu"~prior,!,
<br />the due dates of the escrow Items. shall exceed the amount required to pay the escrow items when due. tlle~ slIlilU.~
<br />at Borrower's option. either promptly repaid to Borrower or credited to Borrower on l1lQftthIy payments or~ If~
<br />amount of the Fund., held by Lender is not sufficient to pay the escrow items when due, Borrower sUH pay to Lender...,
<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 Security Instrument, Lender shall promptly ~to...l+t>.4
<br />any Funds held by Lender. If under paragraph 19 the Propeny is sold or acquired by Lender. Lemler ~.~
<br />than Immediately prior 10 the sale of the Property or its acquisition by Lender. any Funds IIdd by Lcactcrat,tk4;
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. App\icatioa of PayllleDts. Unless applicable law provides otherwise. all payments received by Lcactcr tmder
<br />paragraphs I and 2 shall be applied: first, to amounts paYl\b Ie undel' paX'4Il'aph 2 i second. to 1ateNC
<br />due; and last. to principal due.
<br />4. C1w,es; Liens. Borrower shall pay all taxes. assessments, charges. I1nes and impositions attributable to*
<br />Propeny which may attain pnority over this Security Instrument. and leasehold payments or IfilUDd rents, if ..,.
<br />Borrower ..nail pay these obligations in the manner proVIded in paragraph 2. or if not paid in that 1l1lIIU1a', &lIowusUH
<br />pay them on lime dire.:tly' to lhe person owed payment. BorrowerSlliJfPi'ompt y umlS to nouces .
<br />10 be paId under Ihis paragraph, If Borrower makes Ihese paymenls directly, Borrower shall promptly furRish to Leader
<br />receipts eVIdenCIng lhe payments.
<br />Borrower ~hall promplly discharge any lien which has pnority over thiS Security Instrument unless Borrower: (a)
<br />agrees In wntmg 10 the payment nflhe obligallon !>Ceured by Ihe hen III a manner acceptable to Lender; (b)comestsinaood
<br />faith the lien by, or defends agamM enforcement of the hen m. legai proceedin~ which in lhe Lender's opinion opcrateto
<br />prevent the enforcemenl of the hen or forfellure of any part of the Propeny: or (c) secures from Ihe holder of the 1ien an
<br />agreement sallsfactory to lender ,uhordmatmg the lien to thiS Sec..~ty Instrument. If Lender determines that afty part of
<br />the Propert, IS subJecl Eo a hen which may all31ll pnority o~er Ihis Securily InMrument, Lender may give Borrower a
<br />notice Idenllfying lhe lien Borrower shall '8tl!.fy Ihe hen or tale one or more of the aCllons set forth above within JO days
<br />ofthe glVIRg of notl'~,
<br />S. IIIZlU'd IlISuraace, Borrower ,hall h'ep the Impnwements now eXIMing or hereafter erected on the Property
<br />msured agamst I()s.~ by fire. hazards mduded wllhm the lerm "exlended co~erage" and any' other hazards for which Lender
<br />require-. m~urance ThIS msurance shall he maintained in Ihe amounls and for the periods thaI Lender requires. The
<br />.:tsurance carner provldmg the in'uralKc ,hall be chosen by Borrower subject 10 lender's approval which shall DOC be
<br />u:, ,easonably wnhhdd,
<br />All insurance I'ohclt~s and renewals ,hall he acceptable In Lender and ,hail include II standard mof1ilIIC cIauIe.
<br />Lend,,; shall haH' the nght 10 hold the pohCles and renewals, If Lender requires, Borrower shall promptly give to LcndcT
<br />all receifo'~ of plud premiums 1nd renewal nollees, In the event oflos.,. Borrower shall give prompt notice to the insunaa:
<br />carrier and Lender Lender may' make proof of loss if not made promptly by Borrower,
<br />Unle<\s l.ender and Borrower otherwise agree in writing, insuranc:e proceeds shall be llpplicd to restoration or repair
<br />of the Properly damaged, if the reslOnUlOn or repair IS e.:onomically fea.sible and tender's security is not lessened. If the
<br />restoratIOn or repair IS not economically feasible or Lender's security would be lessened, lhe insufllnce proceeds shall be
<br />applied to (he ~ums ,-<<ured by this Security Instrument, whether or not Ihen due, wilh any excess paid to ~'et'. If
<br />Borrower aband('n~ the "ropen)'. m d~ [JOl answer within -'0 days a notice from Lender that the insurance carrier has
<br />offered to setlle a dalm. then Lender may ,'ollecI lhe msurance prO<.'ecds, Lender may use the proceeds 10 repair or restore
<br />lhe Propert\' nr 1(' pay 'urn, secured h\' Ih" Se<'unr, Instrument, .....hether or not then due, The 30-day period will begin
<br />when the nollee l' gl,'en,
<br />Vnk..." Lt'nder and Ilorrowet (,therY>l,e agree In wntmg. ~ny applicalion ofprocecds to pnncipal shall not elltend or
<br />postpone the due date nflhe mnnthi!. payment' referred to m paragraphs 1 and lor change the amount of the paymenls, If
<br />ullder paragraph I Q the Pr,'pert~ ",,l\:'1Ulred hy Lender. Borrower's right 10 an, IIlsurance l'olIl"ICS and proceeds resu!.ing
<br />fmm dama!te In rhe Property prior W Ihe ,1I:'1\ll'IIIOt1 shall ra" 10 Lender h' Ihe exlent "fthe ~ums secured by thIS Security
<br />fn"trumcn~ lm"lCd"tld~ pnllT to tn{~ aC4UI~lttpn
<br />6, Prexn.tion HO '\1ainleRlllKe o' !'ropcny; Leasdlolds. B<'rmwer ,hall Iwl dt.,t my. damage "I' 'ubslanltally
<br />chan!(e Ihe Pwren\, ;Ill(\\~ 'he P<"'r<'11\ hI delefl"lale "I commIt wasle, If Ih" SecuIIl' Instrument I' Oil a leasehold.
<br />Ik,r...."'er shall u'rnrl~ Wllh rhe pt.", "",'" "I the lease. ;;nd If Borln",er a"l1ll1rt" fee 1\!le I,; the Prnpen~', Ihe ieasehllld alld
<br />fee lllle ,hall IWI rnf~r!!e unl....., I <'[ukr "!tIel" In the merlter III wnlU]!!
<br />". I'rotec:lion fIr Lender's Ripls in tile I'roperty; '\tortRlllle Insurant'e. If Il"m.w('r falh 10 perfmm the
<br />cn\'Clmnh and A~r('(~ntt:nt~ \. "nt.alfled 111 ltw'l 'n'lIrll\ In'tfunH~nl. Pf I herr I' a Iq;:al prt\.t(.'t~dlll~ that 'n~'y "'1~t1:tlcantl~ ;ltTel.:t
<br />l.t"flt.kf'~ n~,hh m lht' Pf"I~~rt~ l~u(h a'o ;t pn'-1..::C'e{hng It1 hanhrUr1..'~. pr(~hale, for llHllk"rnnaflon pf Ii' ertf~'n.:e la"' nr
<br />fe~ui:,f;llnn",I. then f ....~ndeT m-ioH ,.ill .H1\.1 pa\o f\)f \\ 1'1.\111'..'\ Cf 1'" 11:("i.:T',,;tr \ h 1 prnrt~L..t I he \ alUt- nt 1ht' Pn1pt.-rty ~Hld (.I,onder', nghl'
<br />In rhe I'rOr'l1tn~' r.('tHlrr''l, ;ultIfHl\ rn~i~ Irll.:Judc jla~lllg ;til\ ""H~l'" '-,t'i.'ured h\ ;1 lien \\hh.'h ha' pnnnt\ l'\t;r fhl' Sel'unt\
<br />In'~fl.Hne()L ,tjlpeaf1l'J~ HI ,pun. pa.vm~ rf_~a"'~_ln.h'jtf' ,'1th'PH"\' kt'''' ,1Ih1I'nfl'f1!l~ \In lhe P!"('PCf1\ 1(1 T!la~t.' rCl'illf' ,\lttll'll~h
<br />t _CfH!-ef 1fU~ t.l~t" iH:'1lilt! upde1ltll'" P;'f,}~.r.Jrh'''' l nll.kr d,'I(-'" tH'1 h.~\~' h~ dil""l
<br />"'n\ ,lfllutlllh ~11...htJ"f.'1.1 h., le'Hkr under fhl'- +'M;tli!r;lrh - "-h.dl bt,,,,".lt1lC .ldd1l1!"1l,1! lid'" .'t Ht~rn~\HO! "~'\"lill"d h\ Ill:,
<br />~:~:Llf!l\ Int;,Hurnnd lnk,1" Htln\''''''t'f ;HId I {'!Hie, a~ft'f.' l,l 'Jlbc! ~qp\.. ,,! r',t\lnt'!ll !he'.! ,nHI'iinf'" ...11;)11 t\(,'.\I !nr~'lt'...! !,\QD
<br />'he ,LAft' .;f d!...h~jf<;,{:'nl('fl' ;lr lhr -";, If{' liil(,' :lnt! "h.,1I hot, 1';1\.1"1,- \\1111 ,,1!l.'!\'...r h.t1'.' '1,'1'1 ! \'lldl'l '" H,III"\\t':
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