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<br />84 - 006766
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<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows:
<br />I. Pa,....t of PriacipallIIId IIItereIt; Prepa,....t lIIId Late CIIarps. Borrower shall promptly pay when due
<br />lhe prineipal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />Z. FlUIds for Taxes lIIId luunmce. Subject to applicable law or to a written waivcr by Lender, Borrower shall pay
<br />to Lender on lhe day monthly payments are due under the Note, until the Note is paid in full. a sum ("Funds") equal to
<br />one-twelfth of: (a) yearly laxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground renls on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />monpge insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates offuture 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 Iln institution). Lender shall apply the Funds to pay the escrow items.
<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 charge. Borrower>and
<br />Lender may agree in wriling t;lat 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 Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge. an annual accounting of the Funds sbowing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the Sunil> 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 due dates of the escrow items, sball 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 monthly 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 t he 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 refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Propeny is sold or acquired by Lender. Lender shall apply, 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 lIS a credit against the sums secured by this Security Instrument.
<br />3. AlIPficatioll of Pay_ts. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first. to late charges due undcr the Note; second, to prepayment charges due under the
<br />Note; third. to amounts payablc under paragraph 2; fourth, to interest due: and last. to principal due.
<br />4. CIutrps; Uens. Borrower shall pay all taxes, assessments, charges. fines and impositions auributable to the
<br />Propen.Y_~_ffiJl~t!li!Lp_!:tQrj!YJlve[ this Securit\' Instrument. and leasehold~ents or-8!Qund rents. if any.
<br />Borrower shall pay these obligations in the manner pro\'ided in paragraph 2, or if not paid in thai manner. Borrower sha11
<br />pay tbem on time directly to the person owed payment. Borrower shall promptly fufl"sh to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments direclly, Borrower shall promptly furnish to Lender
<br />receipls evidencing the payments.
<br />Borrowcr shall promptly discharge any lien which hIlS priority over this Security Instrument unless Borrower: (a)
<br />alfee5 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 enforccment of the lien or forfeiture of any part 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 Propeny is subject to a lien which may auain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy tbc licn or lake onc or more of the actions set forth above within 10 days
<br />of tbe giving of notice.
<br />S. HazenlIRSUnIIICe. Borrower shall keep the improvemenls now existing or hereafter erected on the Property
<br />insured against loss by fire. hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance sball be maintained in the amounts and for the periods Ihat Lender requires. The
<br />insurance carrier providing lhc insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheltj.
<br />All insurance policies and renewals shall be acceptable 10 Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender reqUIres, Borrower shall promptly give to Lender
<br />all receipts of paid premiums llnd renewal notices. In the event of loss, Borrower shall give prompt notice to the insurancc
<br />carrier and Lender. Lender may make proof ofloss if not made promplly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or rcpair
<br />of the Property damased, if the restorati(m or repair is economically feasible and Lender's security is not lessened. If the
<br />rcMoralKm or repair is not economically feasible or Lender's security would be lessened. the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any ClIcesS 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 />oI'cred 10 settle a claim. then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or rC!itore
<br />the rropeny or to pay Sumll SC(:ured by this Security Instrument. whether or not then due. The 3{)..dllY period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower othcrwise alilree in writing. any application of proceeds to prinCipal shall nOI eMend or
<br />poIIlpooe tlte due date oflhe monthly payments referred to in paragraphs I and 2 or change the amount of the paymems. If
<br />IIftder par~ 19 the Property is acquired by Lender, Borruwer's riBhl to IIn)' iniurance ,..olicies and proceeds resultlllg
<br />from ~ 10 lhe Propeny prior to the acquisition ihall pass to lcnlkr to the e~tenl orlhe sums securt'<l b~ Ihis SccllTlI)
<br />IMtl1l.ffiftt Immediately prior III the acquisition.
<br />6. ~.tilim llIMI Mai~ of Propeny; l_flloWtJ. Borrower shall nOI destroy. dlllllltlle or slIbslllllllally
<br />c~ the Property. allow the Propeny to delenorate or commit waMe. If Ihis Sccllmy Instrume"t " nn It leaschol<l.
<br />Borl'mlo'er shall comply with the rrovillions urthe lease, and if 8orrower acqulfes fee !Itte 10 Ihe Prnperly. lhe leaschol<l and
<br />fee tItle: shall not merl'C unk:lis Lender asrea to the merger in writin._
<br />7. ~ of Lender's ~ 1ft tlrle Property; ~ InwntIl('t'. If Bormwe. falls III perform Iht"
<br />c~ts and IIIreemmts conlluned In thIS Security Instrumetll, or there is a It'II111 rfll",~edinllthal may "lIll1fklllllly "ffl.'C1
<br />Lender's "!lilts in the Propen)' (mch liS It pflx:eedmg m bankruptcy. probate, for wmlemnlllloll nr "' ,'nfl'ree laws Ill'
<br />r.l3t..._). tlwn tender may dIo and pay for whlllC"er l' nel'01lllry tn protC<:llhe valll<' of the "mpeny 1I11111..l'ndt"r', n~hls
<br />in the Property. LUlder's IIctions nlllY indulk paymg any 'un" 'iC<:ured by a lien wtll,'h h:" pfWnl) I'lef Ih" Senlrll)
<br />IMtrumenl. IIPPMrinJ! in courl, l'aymtll~llonable 1I11offleys' fen and emermll\ "lithe Prnl"crt\ III mllkl' repalls. Althl'Ullh
<br />Ltnder may hllr.eactlll'l1 undtf thi~ paflllr3ph 7. Lenlkld....n 1I0t ha\c IOU..~..
<br />Any a_ll!~ dillburlletl hy I.en<ler llIw.ler IImqmragral'h i ~hllll het"'fllC dddlllllllal deh".IJl,'rrl'\\<,r ,e.:urt'\J h~ . hI'
<br />~UlltJi rmlnlflWflt tJfllCll>~ Ikrrruwer.lInd I.e'''",r allr<'C It, IIlhet rern" of pltyn1\'lll. rllt.....' M!1ll>lllll' ,hail hear 1111""'" from
<br />rite dale of di1lbu,wrnenl :.. Ill.. Nole f..le llU<l ,hall he p"y"hl... ".lh "1I,'rl"1. "l~'" ""Il,',' fr,'m I "nil", 'I' 110m"",..
<br />r~llflg ll'Iynwnt
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