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<br />84 ....,-J 00315:3
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<br />L:'<IFORM COVESASTS Borrower and Lender covenant and agree as follows:
<br />l. Payment or PrindpaJ and Interest; Prepayment and Late Charges, Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and lale charges due under the :-;ot.,
<br />2, Fund. (or Taxes and Insuranee, Subject to applicable law or to a wrill'," waiver by Lender, Borrower shall pay
<br />In Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds'') .qualto
<br />one.twelfth of, (a)yearlyta.es and assessments which mayallain priority over this Security Instrument: (b) Yearly
<br />lea~hold pa>'ments or ground rents 00 the Property. if 'any; (c) -yearly hazard insurance, prei'11ium5~- -,and- {d}- ,,.eariy
<br />mongage inwtance premiums, ir any, These itC1llS are called "escrow items," Lender may estimate the Funds due <In'rhe
<br />hasic. of current data and reasonable estimates of future escrow items.
<br />The Funds shall b<: held in an institution the deposits or accounts of which are insured orgwiranteedbyafedei'alor
<br />Slate agency (including- Len<k'r If Lender- is such -an jnsti_tuHon1" _ Lend~r shaU apply-, t~e-Fun:~-to:paY-,J~_~,:C"~rG7}t_em5,
<br />Lender may not chargdor holding and applying the Funds, analyzinglhe secount or verifying the c;scrowiteol11si 1:':Il.l'Tl'
<br />Lender pay' Rorrower interest on the Funds and applicable law permits Lender to make such a charge,'Sorrower'and
<br />Lender may agree in wnting that interest shall b<: paid on the Funds, Unless an agreement is made or apj:llicabIelaw'
<br />requires .ntert"t to b<: paid, Lender shall not bc required to pay Borrower any interest or earnings on the Fimds:Lender
<br />shall gIVe to Borrower. without charge, an annual accounting oilhe FundHhowing credits and debits totbe Funds and the
<br />purpo~ f()f 'A.'hich- each debit I() the Fund~ wa, made- The-Funds are pledged as. additi-onaJ-s..-curity'for_th-e-sums secured-by
<br />thl~ Securit\' J nstrumenl.
<br />If the amount of Ihe Funds held by Lender, together'With thefuture monthly payments of Fundspayable"prio~to
<br />Ihe due dates of the escrow nems, shall e.<:eed the amountrequired to pay the escrow items whendue;,theexccss'shallbC,
<br />al Borrower" opllon. e1lherpromptly repa.d to Borrower or credited to Borrower on monthlypaymentsofFundsdf the
<br />amount of the Funds held by Lender is nol sufficIent 10 pay the escrow items when due; Borrower shall pay to Lender allY
<br />amount neCCS'ioary to make up the d-dlciency in one or more payments as required by -Lender.
<br />Upon pa\'ment In full of all sums secured by this Security Instrument, Lender shallpromptlyrefundloBorrower
<br />any Funds held by Lender. If under paragraph 19 the Propeny is sold or acquired by Lender, LendershaJl,apr>ly,cnolater'
<br />lhan .mmedialely pnor 10 the ..Ie of the Propeny or ItS acqUISition by Lender, any Fund. held by Lender at the time of
<br />j,pphcaoon a_'i a credit against the Slims .so:ufed by this, Sc;urity 'Jnstru~nt.
<br />), Application of Payments. Unles, applicable law provides otherwise, all payments reeeiVedby Lender"under
<br />pangraph, I and 2 ,hall b<: appiled: first. to late charges due undenhe Note; second, to prepaymentchargc:s due under the'
<br />'Ole: Irlff'd, 10 amounts payable under paragraph 2: fourth.. to interest due; and last.to-pnncipar-du,e.
<br />~, Char~es; Liens, Borrower shali pay all taxes, assessments, charges, fines and impositions artributabl.eto the
<br />ProperlY whICh m3)' analO pnonty over thiS Secunty Instrument. and leasehold payments or ground rents. - if '-any~
<br />Borrower ~hall pay these obhgatJons In the manner provided in paragraph 2. or ifnot paid in that manner.- Borrower_shaU
<br />pay them rm Hme dlrec.ly lothe pel50n owed payment. Borrower sh.'lpromptl)' furnish to LenderaRnotices ofalllOUrtlS'
<br />to be paId unde.! thts paragraph, Ir Borrower mak", these pa)'ments directly, Borrower shall promptly fumlshtoLellder
<br />receiptS eVidenCIng the payments
<br />Borrower .hall promptly dls""c"e any hen whIch h.. pnonty over thIS Seeuritylnslrument unless Borrower: (a)'
<br />Jgreo H\ wnting. to the payment Oflhc obligation !C'c:ured by tht: lien in a manner acceptable, to Lerid-er;-(b}cont_eSls,in-&_O:Od
<br />faIth dle< hen by, or defends a~atnst enforcement of the hen in. legal proc(':edmgs which -in the Lender's-opinirn:roperate-Jo
<br />prC'\o'cnl th~ cnfon;:em-cnt ()f the lien {)r forfeiture of any pan of the Propcny; or (-c) ,secures f-rom the hoJper ,of-the fien -an
<br />3greem-ent- satlsfacwry to Lender subordinating [he lien to this Security Ins.trument. If Lender d'eternilnes thai ,an)' :part of
<br />the Properry 1\ subject to d hen which may attam pnonty over thi~ Sec-,unJy lnstfument. Lender may _gIVe Horro\Ver a
<br />notICe Id~nnfymg the hen BorrowC'r shall u1l5t\. [he hen or take one or more of the actions-set forth abttve ""thin 10 da);~
<br />nf ~he l)\'!f1-g of no[iJ.;'~
<br />5. Haurd insurance. Borrower shall keep (he: impro"o"cme-nts now e:\I:)ring ()r-hereafter erected _on the,-Pf'Op~rl>
<br />msureJ J.~aUlS( io~s by fire. hazards Included within the [crm .'c\tendcd c-O~erage-" and-any other hazards (or whlch-Lendet
<br />r~qu1re'!. in~uran"( This in\uraocc ~haH be rnainfamed in the_ amounts and for th~ 'perlods- that Lend_er:- requires.. The
<br />msura!l(t' carfltt pro~idin~ the ins.urance shaH be ch(~eJl by Borrower subject _to Lender's approval-which shall not be
<br />unrca!'tonably \/oithhdd.
<br />AI! tnsuram.'(' pOh'l~ and renewals ~hali be a.:-ceplable to L(nder and -,shaH include a ~tandard mongage cIaus.e
<br />Lender .hall h..e the nght III hold the poil",e; and renewals. !fLender requite;, Borr"...er shall promptl)' gIve to Lellder
<br />all fe\:ciplS uf plud premiUms and renewal nOtlceS-. In the' e\fent of Iou. Borrower shaH gJ\'C prompt n(llke- to the insurance
<br />carner and Lender. Lendet may make proof of 10" if nO! made promptl)' by Borrower.
<br />Unle-s.s Lender and Borrower otherv.-'lse agree in \lniting. insurancc:_phx;<<d-s shaH be applied. to re:stQtation or fepalf
<br />of Ihe Prllpert~ damaged, if the r"'lOration or repair ts economically feasible and lender'S security is not~ened. If the
<br />re~lOrallon or reI''''' " not economIcally fea!>ibie or L<:nder's securit)' wouldb<: lessened, .the insurance proceeds shall be
<br />applied to (he slIms_ secured by this Security Instrument, whelh-er Or oot then duej with any excess paid to Bo-rrower- If
<br />Borr()\\'er ~"bandons. th~ Propen:,;, or dQeS not ans"-"e.r within 30 day!!. a notice from Lender that the,knsurance carrier ha.~
<br />offered I{J :..cl11e a claIm, then Lender may (."ollectthe Insurance prftCeeds-~ Lender may use the pn:x:ee(ls to repalf or re-sIOft'
<br />the Propt"rt). or to pay ~ums secured by this Security Instrument. "Ir..h~thef or not then due, The_ 30.day period wi,!! begltl
<br />~,hen the IWHee IS gl\Cn
<br />L'ni~3 Lender and Borrower Olhe~ls-e agree in wrlung., any applicaoon of proceeds h) prmclpal ~h(lll not ('...tend or
<br />pO-StrOoe the due date of the monthly payments. referred to in paragraphs. I and 1 or change lheamourH Oflhe payrnt'_nh- If
<br />under paragraph 19 the Property IS acquired hy Lender'. Borrower's rig.ht to any In.,uranc~ pollcu:,s and pH)Ce-ed~ re~u!tH1g
<br />from damage to the Property prior to the .acquJS-1110n shall pass to Lender to the o_tent of the sum~ secured by trti~ Stcurity
<br />In5-trumenl immediatel!-' pnor 10 t-he ac-qulsillon.
<br />6. Presenation and l\.taintena-nce of Property; Le-aseholds. Borrower shall not desuoy, damage or "ub...,ranll;ili~
<br />\;~hangc; the Property, aUO'w the Property 10 deteriorate or commit \lr;'<lslt". If thlS $ecunl)" In.strumern IS on .a JeilSdl,)ld,
<br />fkHrow-er &hall complY w,Ith the pro...islons of the: lease, and if Borrower acqUIres fee [HIe to the Propert)', [he kasdwJd and
<br />fee title ihall nm merge unles-s. Lender agrees to the merger in ","Titing.
<br />7. Protection of Len-der~s Rights in the Propert)'; :\-1o-rtgage Insuran-ce~ Ir Borro,",er fads 10 jX'ffl..'onn thr:
<br />;:o\-cnanls,'and agreements coota&ned.in ttus See-unlj' Instrume:m, -I.)r there IS a legal pHx.'eeding .that may sl~nitil:-'aJ\!!: a_tft"t
<br />l.-ender's ng.hts in tht: Property ($uch as a pn.lCcedmg in bankruptc)', probate, for condemu::stlon Of to enl~)f1.'<;.' J~l"':. or
<br />rcgul;uiot\.s.L then Lender may-do and pay for ~'hate"(:r is necc~:'.ary to prote\:llhe -value ofth~ Property and L~Jh.kr\ nghh
<br />!n lhc: Pro-peo}', Lender', aC1.\Of1S may indudc paymg any sums ~e,ured by a hen y"hj-('h ha~ rnQrH) ~!"er !hh
<br />Ini-lnHneOL 4.ppc:a.nng.tO court, paYing rea.sQnabir: attorneys' fees and entenl1g on the Propet't:. to ma~e repan":\o.
<br />l,cndc.r may lake ac:tioll under thl!ii piHa,gniph 7. Lender diX:s not h;a\c: to dO'\{I
<br />An)' ~tTlounh ui,.burS:Cd by Lender UfH.kt IhiS paragraph 7 s.han become adJ}uona~ dl,"'tH _of Bnr-ro\o\Gf "~~:l,irl<;d b~ \1.1'
<br />~i.HHy .tns.tr~ment. Unlt'\lj. .BoHower and Lendt:r agrce-H)'ot'her t-erm1o- of palmeri!. Ih~ ,Ul1i...HHH\ ",hjH ~~:;.ir llHt'fL"':'>t
<br />l1\t d;llc 0-( ~hwu,-~rn('m at ~h(' Note nlte <sad ~h;JILbe pa;."abJe. with Intn-e.'!'){. Ur~)n Ih..'llkc fr.JHl l.cn~j-ef H"ri".,l,.t;'t
<br />tcqu(',~lln~ 'paYffj~nl
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