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<br /> UNIFOItM COVeNAN7'S. Borrower rnd l.ender covenant and agree as foUow�: � ,.`� •.
<br /> 1. P�ymeat of Princlpal and Interat;PrepnYment and I.�te Ch�+�es. Rorrowcr ahall prompdy pay when due , ._
<br /> , ., the principal of�nd interest on the debt evidenced by the Note and any prepayment and late chargeti due undcr the Note. �
<br /> 2. Fuada for Tnxe�wnd Insu�ace. SubJect to applicuble law or�o a written w�iver by Lender.Aorrower�hall ��_,.
<br /> pay to Lender on the day monthly payments�ue due under the NMe, until the Nute is paid in full,a sum("Funds")for: � "�..s
<br /> -_rs.
<br /> (a)yesuly laxes and asseasments whic6 moy anain priority over this Security Instrument as o lien an the P�aperty;(b)yearly i� ��,
<br /> le�ehold payments or ground rems on the Property, if aoy;(c)yearly hazard or property fnsura�ce premiums;(d!yearly � , :��
<br /> � �'-.Y�_
<br /> iood insurance pcemiums,if any;(e)yeuly mortgagc insurance premiuma, ii nny;and(8 ar►y sums payable by Borrower _
<br /> ta Leeder,in accordance with the provisions of paragrnph 8,in Iku of the payment of mongage insurance premiums.Thesc
<br /> � items ue called"Escrow Items."l.ender may,at any time,collcet and hold Funds in an amount not m excced the maximum .. -_
<br /> ! amount a lender for a federally rdated mortgwge loan may require for Bonower's escrow account under the federal Real �',
<br /> 1 Estate Settlement Pracedurcs Act of 1974 aa amended from time to time, 12 U.S.C. � 2601 et seq. ("RESPA"), unlesc ,-;�:�
<br /> another law that applies to the Funds sets a lesser amount. !f so, Lender may, at any time. collect and hold Funds in an -
<br /> ►n � amount not[o excced the lesser amount.I.ender may estimate the amoun[of Funds due on the basis oi current deta and ��. _ =`,�
<br /> � ' re,a�onable estimates af expendinues of I�ture Escrow Items or otherwise in accordance with wpplicable law. , =�:�,�_
<br /> � � ' _ _ � -
<br /> The Funds shall he held in an insptution whose deposits are insured by a federal �gency, instnimentality,or enlity •��:y;y.
<br /> ! (includi�g Lender, lf l.ender is such an institution)or in any Federel Home Loan Bank.I.ender shall apply the Funds to _
<br /> �. . I pay the Escrow Items.Lender mey nat charge Bonower for holding end applying the Funds. annu�lly analyzing the escrow � �_ "'�'� �
<br /> 't i account,or veriPying the Escrow I�ems.unless Lender pays 8ortower interest on the Funds and applicable law permits l.ender i �� �
<br /> to make such a charge. However, l.ender rney �equire Borcower to pay a one•time charge for an independent real estate � 3`"�=
<br /> licable Iaw rovida utherwise.Unless an agreement
<br /> taa reporting service used by Lender in connecdon with this loan.unless aPP P
<br /> is made or applicable law requires interest to be paid.l.cnder shall�ot be required to pay Barrower any interest or earnings � . ,.�„
<br /> on the Funds. Borcowcr and l.ender may agrce in writing,however,that interest shall be paid on the Funds. L.ender shall �. j•;�
<br /> � ' give to Borrower,without charge,an annual accounting of the Funds,showing credits and debits to the Funds and the purpose � � s,,�.;.�
<br /> for which exh debit to the Funds was made• 7'he Funds are pledged es addh�onal security for all sums secured by lhis Securiry � , .�.-
<br /> . . ' Instrument. � , ��-
<br /> If the Funds held by I.ender exceed the amounts pecmitted to be held by applicable law,L.ender shall account to Borrower . ,.-�
<br /> for the excess Funds in accordance with the r uirements of a licable law. lf the arnount of�he Funds held by Lender at i�. ,; �
<br /> c9 PF ' �.
<br /> 9
<br /> • � any time is not sufficient to pay the Escrow Itema when due, l.ender may xo notify Borrower fn writing,and, in such case �� .
<br /> � ' Borcower shall pey to I.ender the amount ixcessary to make up the deficiency. Bcxrower shall m�ke up the deficiency in ' `� ;
<br /> no rtwre than twelve monihlY payssitats.at Lendzr's so1P diccretion. _
<br /> Upon pAyment in full of all sums s�ecured by this Security Instrument. Lender shall promptly refund to Horrower �;
<br /> any Funds held by L.ender.If,under pangraph 21,Lender shall ucquire or sell the Property, I.ender,prior lo the acquisition ,.,�.
<br /> or sale of the Property.shell apply any Funds held by l.ender at the time of acquisitioa or sale as a credit against the sums
<br /> secured by this Security Instrument.
<br /> 3. AppllcAdon ot Payments. Unless applicable law pravides otherwise,all payments received by L.ender under
<br /> paragraphs 1 and 2 shall be applied: firs�,toany prepayment chargea due under the Nde;second.to amounts payable under
<br /> para�rnph 2; third, to interest due: fuurth. �o principal due; and last, ta any late charges due under the Note.
<br /> 4. Char�es;Liens. Borrower sh�ll pay all taxes,nssessmcnts,charges,fine+ and impositions attributable to the
<br /> Property which mey attain prioriry over�his Security Instrument,and leas�hold payments or ground rents,if any. Borrnwer
<br /> sh�ll pay these obligations in the manner pruvided in paragraph 2,or if nut paid in that manner,Borcower shall pay them
<br /> on time direcdy to the person owcd payment. Borrower shall promptly fumish to Lender all notices of umounta to be paid
<br /> under this p�graph,If Borrower makes iliese payments diracUy,Borrower shall promptly fumish to Lender receipts evidencing
<br /> , the payments.
<br /> Borrower shell promptly discharge any lien which has priority over this Security Instrumem unless Borrower: (a)
<br /> agrces 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,legul proceedings which in the l.ender's opinian operAte to
<br /> � prevent the enforcement of the liea;or(c>secures from the holder of the lien an agreement sntisfactory to I.ender subor•
<br /> • dinating the lien to this Securiry Instrument.If I.ender determines that any pan of the Property is subjxt to a lien which
<br /> � i may attain priority over this Securiry lnstrument, l.ender may give Borrower a naice identifying the lien. Borrower shall
<br /> satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice.
<br /> S. Hazard or Properly Insurance. Borrower shall keep thc improvements now ezisting or hereafter crected on
<br /> the Property insured against loss by fire, hazards included within the term "extended coverege" wtd any other hezards.
<br /> � including floods or flooding, for which l.ender requires insurance.Thi�insurunce sha11 be n�in�sined in the amaunts and
<br /> y � for the periods that L.ender require�. The insurunce carrier providing the insurnnce shall be chu�en by Borrower subject to
<br /> � � txnder's approval which shnll not be unreasonably withheld.If Born►wer fails to mairnai n cover�ge described above,l.ender
<br /> rtwy, at Lender's option,obtain cover�ge to prorect I.ender's rights in the Property in accorJance with paragruph 7.
<br /> All insurance policies and renewals �hall be acceptable to Lender ai�d sh;ill include a st•rnJurd martgage:lautie.L.ender
<br /> shall have�he right to hold the policies and renewals.lf l.�:nder requirex,eormwer+hall prornptl5'give to l.endcr all recripts
<br /> of paid premiums and renewal notices.ln the event of loss. Borrower shall give prompt nutice to the imurnnre carrier and
<br /> [.ender. I.ender may makc pr�x�f uf knx i(nut made prumptly by Borrowcr.
<br /> Unless Lender and Borrower utherwi�c ugree in wriung, insuruncc pnx:ccds �hall bc ap��licd tu rc.luruuun or repeir
<br /> � of the Property damaged, if the restur�ti��n or rep•r�r is econumicully tea+�blc and Leneier's,ecurity is nut Ic.aened. If the
<br /> , restoration or repair is not economically feasible or Lcnder'�securiry wuu1J be le+aened, the insurunce pnkeedti +hall he
<br /> , �pplied to 1he sums secured by this Securiry Inswment,whether or not then due,with an�•cxce.s paid to Borniwer.II B�irrower
<br /> abandons 1he Property,or dcxs not answcr within 30 Juy.:�notice from Lender that the in�uruncc c•rrricr ha�uffered to
<br /> settle a claim,then Lender may cullect ihr m�urancc pnkceJs.Lender m�y use thc pr�s•�ed+to repa�r��r re�t��re thr Pro�xny
<br /> .,......4...�....c corurPd hv�hic Srruriw Inurument.whether or nut then due. The 30�day pen�xl will beg�n when the nuuce
<br /> ...w�--°•-----•---. -. . ,
<br /> is given.
<br /> Unless[.ender and Borrowcr rnhcrwise agrec in wntmg, um• applicatiun of prix�ed�to prm�ipal tih�ll nut cxtcnd
<br /> or postpone the due date of thc monthly payments referred to in paragraphti I und 2 or rhange the amount of thc puymcnts.
<br /> . If under paragraph 21 the Property is a�yuired by Lender,Bormwer'+right to any msuran�.�n�licic�:+nJ proc:crdti rc�ulanR
<br /> � ftom damage to the Propeny prior t�Ihe acyuisition s;�a11 pa.s ti�Lendcr w the ext�nt ul thr.um. �crur;d h� thu Sc.uru�
<br /> lnstrument immediately prior to the acyuisiuon. �
<br /> �
<br /> i Form 30iB 9��o r��u,.'„r•r�u�•„
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