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<br />84 -002923
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<br />UNIFORM COVENA'TS Borrower and Lender covenant and agree as follows:
<br />1. Paymenl of Principal and Inlerest; Prepaymenl and Late Charges, Borrower ,hall promptl\ 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. Funds for Taxes and Insurance. Subject to applicable law or to a written "ValVer by Lender. Borrower shall pay
<br />to Lender on the day monthly payment' are due under the NOle, until the Note" paid in full, a sum ("Funds") equal to
<br />one~twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground renlS on the Property, if any; ICJ yearly hazard insurance premiums; and (d) yearly
<br />mortgage 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 of future escrow Items
<br />The Funds shall be held m an instttutlon the depoSIts or accounts of whIch are Insured or guaranteed by a federal or
<br />state agency (mcluding 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 Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower 10terest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree 10 wnting that mterest 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 account1Og of the Funds show1Og credits and debits to the Funds and the
<br />purpose for which each debIt w the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Seeunt\" Instrument.
<br />If the amount of the Funds held by Lender. together with the future monthly payments of Funds payable prior to
<br />[he due dates of the escro\\" Hems., shaH exceed the amount required to pay the escrow items when due. t.he 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 ttems when due. Borrower shan pay 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 Df all sum5 secured by this Seeunty Instrument. Lender shall promptly refund to Borrower
<br />any Funds held by Lender If under 0aragraph i 9 the Property IS sold or acquired by Lender, Lender shall apply, no later
<br />than Immedlatcly pnor to the sale of the Proper". or ItS acqulSltton by Lender, any Funds held by Lender at the lime of
<br />apphcatmn as a credn agamst the sums. secured by thIS Secunty Instrument.
<br />3. Application of Payments, Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and:: shall be apphed: first. to late charges due WIder Ihe Note: second, to prepayment charges due under the
<br />Note: third. to amoums payabie under paragraph 2; fourth. to mterest due; and lasti to principal due,
<br />4. Charges; Liens. Borrower shall pay all taxes. assessments, charges, fines and impositions auributable to Ihe
<br />Property which may attain pnonty over thiS Secunty Instrument. and leasehold payments or ground rents. if any.
<br />Borrower shall pay these obligations In the manner pronded In paragraph 2, or if not paid in that manner, Borrower shall
<br />pay them on time dlrectl) to the per '".)wed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />[0 be paId under thIS paragraph. If horrower makes these payments dIrectly, Borrower shall promptly furnish 10 Lender
<br />recelpts eVldencmg the payments
<br />Borrower ,haJl prompt I) dIscharge any hen whIch has pnonty over thIS Security Instrument unless Borrower: (a)
<br />agrees In wntlng 10 the pa)'ment of the obhgatlon secured by the hen m a manner acceptable to Lender: (b) conlests in good
<br />faith the hen by. or defends against enforcement of thc hen In, legal proceedings whIch m Ihe Lender's opinion operate 10
<br />prevent the enforcemenl oflhe hen or forfeiture of any pan of the Property; or (c) secures from the holder of the lien,an
<br />agreemenl sattsfactory to Lender subordmatmg the hen to thIS Secunly Inslrument. If Lender delermines that any pan of
<br />the Property IS subject to a hen which may attain pnonty over this Security Instrument. Lender may give Borrower a
<br />nouce Idenufymg the lien. Borrower shaJl sausfy ,he hen or take one or more of the actions set forth ahove within to days
<br />of the giVIng of nOtice
<br />5, Hazard Insurance. Borrower shall keep I he Improvements now eXISting or herealier erected on Ihe Property
<br />Insured agaInst loss by fire. hazards 1llduded Wlthm the Lenn "e:uendc::d coverage" and any other hazards for which Lender
<br />reqUires Ins.urance_ Th.ts InsurancC' ,hall be maIntained In [he amounts and for the periods that Lender requires. The
<br />Insurance camt:T provldmg the insurance shaH he ....hosc:n by Borrower subject to Lender's approval which shall not be
<br />unreasonably Withheld
<br />All IIlsura"ce pohcl'" and renewais ,hall be acceptable to Lender and shall Include a standard mortgage clause.
<br />Lender shall have the nght to hold the poliCIes and renewals If Lender requires, Borrower shall promptly give to Lender
<br />all receIpts of paId premIUms and renewal notll'es, In the event of loss, Borrower shall gIve prompt notice 10 the insurance
<br />carner and Lender Lender may make proof oflos>lf not made promptly by Borrower.
<br />Unless Lender and Borrower otherWl~ agree ill wnung. insurance proceeds shaH be appiied iO restoration or repair
<br />of the Property damaged. If the reslOratton or repalf IS economIcally feasible and Lender's securily is not lessened, If the
<br />restoration or repau IS not economIcally feasIble M Lender's securtty would be lessened. the ..surance proceeds shall be
<br />apphed to the sums secured by th,s Secunty Instrument, whether or not then due, wuh 8IlY excess paid 10 Borrower, If
<br />Borrower abandon, the Property, ,>r does not answer with.. 30 day' a nottce from Lender that the insurance carrier has
<br />offered to ""tle a dalm. then Lender may collect the Insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pal' sum, secured by tillS Secunty Instrument, whether or not then due, The 30-day period will begin
<br />when the nonce IS g1\:en.
<br />Unless lender and Borrower otherwl>e agree 10 wnttng, any apphcatJon of proceeds to princtpal shall nOI extend or
<br />pill'Itpone the due date (lfthe monthly paymetH~ referred to In paragraphs i and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property IS acqutred by Lender, Borrower's nght to any Insurance poliCIes and proceeds resulting
<br />from damage to the Property pnor ~o [he acqulsluon shall pas-~ to Lender to the e.,{ent of the sum~ secured by this Security
<br />In!,[rumenl imme<hately pnor to the a~qUlSlt10n
<br />6. Preservation and ~taintenance of Property; Leaseholds. Borrow~r shaH not destroy, damage or substantially
<br />change the Prope-rty, aHo....- the Property to deteriorate nr commit was.te. If thIS Secunty Instrument is on a leasehold.
<br />Borro~~' shall compl)' \\-Ith the rn.W1SI0n~ of the lease. and If Borrower acqUlr~ tt."t" lltle 10 the Property, the leasehold and
<br />fee mle shaH not merge unie~s, Lender agrees w [he merger 10 wntmg,
<br />7, Prolection of Lender's Rights in the Propert~.; '\torlgage Insurance. If Borrower falls to perform the
<br />Cll\,renanlloo and agreements. comamed In thiS ~urlt~ Instrument. or there l~ do legal proceedmg th~,ll may slgmficanlly affe.ct
<br />Lender',; nghh m the Propen)' (such a.." a proceedmg in bankruptc). probate. for cundernnslIolI O( tfl enforce laws or
<br />regulatlon~). then Lender may do ;:'U1d pa~ for whate....er I~ nec~\l,ary to protect Ihe \alut.' of the Property and Lender'., nghh
<br />In the PropC:l1y_ Lender.... aCBon~ ma~ lI1c1ude paymg. any SUffilo. ~ured hy a hen whu..'h ha~ pntJnl~ ll\er lhl~ SectJfHy
<br />Instrument. appeanng m court. paymg reasonable anorney~' (eo and entering (11'1 the Pr("lpt'T[~ h' make re-l'alr\, Ahhough
<br />Lender may HIke a.,;Hon under thiS paragraph 1, Lender does not ha\e' 10 dl.l "-J
<br />Any amOUl'U& dl.Sibu~ by Lender under thl~ paragraph '7 ~haU Oet.'(lme ddd.lttonai dcbll.lf Hornl\'1,t:'r ~~l.."tHt.'d b) tlH~
<br />St;;:un:, Inlotfum-cnt CnlC'~ Bonowc-f and L~ndtf agre.: to lither tt'flll'. ("If payment. lhe"le ~1.mi..HHll" ..hall bear Intcresl from
<br />the date or dLsbur~menl a,l {he:: "'ote rate and \ohall he rajahit':, \\Ilh micrb.L Upl'Tl noll\.'(' lftlOl I endl.;! 11.' H~lrri'\H'r
<br />requ~tmg J,.'layrnenl
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