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<br /> UNIFORM COVEIYANTS. Borrower and Lender covenant and agree as follows: � _
<br /> � 1. Pnyment of Princlpul and Intcrest;Prcpayment nnd Late Charg�.w. Borrowcr shall prompdy pay when duc the _
<br /> principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. _—
<br /> 2. F'unds Por'i'uxes und[nsttrance. Subject to applicable law or to a written waivcr by Lcnder,Borrow�r shull pay to
<br /> Lcnder an thc day monthly paymcnts arc duc undcr thc Notc,until thc Notc ts paid in fuU, u sum("Funds")for: (a)ycarly I ;
<br /> � taxes and asscssments which may attain priority avcr this Securiry Instrumcnt as a licn on the Property;(b)yearly lensehold
<br /> p�ymcnts or ground rents on thc Propcny, if any; (c) ycarly h:uurd ur pruperty insurancc prcmium�; (d) yc�rly flood i ;; : _ -
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<br /> insurancc prcmiums. if:u�y; (c)ycarly martgagc Insurancc prcmfums, if any; und (fl any sums payablc by Borrowcr to f �T.:,�,���.
<br /> �� �,,, l..cndcr, in accordancc with thc provisions of pAragraph 8, in licu of thc payment of mongagc insurancc prcmiums. Thcsc I , __
<br /> items�re called "�scrow Iterns." l.ender may,At any time,callect and hold Fundw in:ui amount not to excecd the maximum .
<br /> ,unount a Icndcr for a fcdcrally rclatcd martgagc loan may rcquirc for Burrower's escrow account undcr thc fedcrnl Rcal ` •�� �
<br /> � Est�tc 5etticment Praccdures Act af 1974 ns amendcd from umc to tlmc, l2 U.5.C, q 2601 et ser�. ("RESPA"), unlcss I ""•`=:
<br /> anuthcr I�iw�I►ut applics to thc Funds scls u Icsscr�ntoun!• If so, 1.�:�rdcr may. m��ny timc,collcct:uid hald Funds in�u� � ..��_
<br /> ;,muunt noi a� cxcecd thc Icsscr am��unt. Lsndcr ntay csUmntc thc nmaunt of Funds duc on thc basis of currcnt datn and ��,,-
<br /> - rcasanublc ertftn;nes uf expenditures af futurG�scrow Items or atherwirc b�accordtuue with lpplicable law. •
<br /> 'I'h�� 1'unds shul!bc hcld in an instltutl�m whosc dcp��siis ,vc Insttr�:d by t► (ccictnl agcncy, instrumcntaliry, or cntity ��., .
<br /> (incluJing l.�:ndcr, if l.cndcr Is such un institutiun)or in any Fcdcrnl Homc l.o.ui B.u�k. L.cndcr shail apply thc Funds to �__
<br /> ptry thc Escraw Itcros. Lcndcr may not chargc Borrowcr for holding:uid applying ihc Funds,annuaUy�icablclawc cermits
<br /> t�ccount, ot vcrifying thc Escraw Items, unlcss l.cndcr pays Burrawcr intcrest on che Funds and app p � .
<br /> I.cndcr ta makc such n chavIIc. tiowevcr, l.ender may rcquiie Borrawcr to puy a one•time charge for nn independent real
<br /> cstate tux reporting scrvice used by I..ender in connection with this loao,unless�►pplicuble luw provides otl►erwise. Unless an ,
<br /> ngrcernent is made or applicable law requires interest to be paid,L.ender shall not be required to pay Borrower any interest ar :
<br /> carnings on thc Funds. Borrowcr and Lcndcr may agrce in writing, however. that int�rest shall be paid an thc Funds. ';
<br /> � and�ehe purposec(or whi h each debit tohhc Fund wnasamade.0 The Funds a enpledged as addlional ecurity for a11F ums -
<br /> securcd by this Sccuriry Instrument. �
<br /> � If thc Funds hcld by Lender excced thc amounts permittcd to be held by applicable law, Lender shall account to __
<br /> Bonower for the excess Funds in accordance with the requirements of applicable law, If the amount of the Funds held by
<br /> I.ender at any time is not sufficient to pay the Escrow Items when due, I.ender may su notify Bonower in wrinng,and, in
<br /> ' * such case Horrower shall pay to l.ender the amount necessary to makc up the deficfency. Borrower shall make up the
<br /> deficiency in no mare than twelve monthly payments, at Lender's sole discretion.
<br /> — il�on payrn!'nt in ful1 of all sums sccured by this Sccurity Instrument,L.ender shaU prompdy refund to Borcower any _tl
<br /> Funds held by Lender. If,under paragraph 21,l.ender shall acquire or sel►the Yropeny, I.ender,piWt tu ilid ai;tJUISiT��II OT �_` i
<br /> • sale of the Property, shall apply any Funds held by I.ender at the time of acquisition or sale as a credit against the sums �
<br /> securcd by this Security Instrument. �•--_�--
<br /> 3. Applicution of Payments. Unless applicable law provides otherwise,all payments received by Lender under ���,
<br /> paragraphs 1 and 2 shall be applted: first, to any prepayment charges due under the Note; second, to amounts payable �___
<br /> ' under para�raph 2; third,to interest due; fourth,to principal due;and last,[o any late chazges due under the Note.
<br /> 4. Charges;Liens. Bonower shall pay all ta�ces,assessments, charges,Rnes and impositions attributable to the ��.��s.y
<br /> � Property which may attain priority over th[s Security Instrument, and leasehold payments or ground rents. 3f any. �
<br /> w Bonower shall pay these obligations in the manner provided in paragraph 2,or if not pald in that manner, Borrower shall :
<br /> �� pay them on ttme directly to the person owed payment. Bonower shall promptly fumish to Lender all notices of amounts to be � .,�
<br /> '� paid under this paragraph. If Borrower makes these payments directly,Borrower shall promptly furnish to Lender rcceipts __
<br /> �• evidencing the payments. __
<br /> '� Bonower shail prompUy discharge any lien which has priority over this Security Instrument unless Borrower: (a) _
<br /> � agrees 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 Iten by,or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion uperate to
<br /> � prcvcnt the enforcement of thc lien; or (c) sccures from the holder of the licn an agreement satisfactory to Lender ---
<br /> � subordinating the lten to this Security Instrument. If Lender determines that any part of the Property is subject to a lien
<br /> � which may attain priority over this 5ecurity instrument,Lender may give Borrower a notice tdentifying thc lien. Bonower
<br /> shull sacisfy the lien or take one or more of the actions sct fonh above within 10 days of the giving of notice. ___
<br /> ,. 5. Hazard or Property Insurance. Borrower shaU keep the improvements now existing or hereuftcr erectcd on the v
<br /> ' Propeny insured against loss by tire, hazards included within the term "extended coverage" and any other hazards, ,-��� _
<br /> includfng floods or flooding, for which Lender requires insuranca This insurunce shall be maintained in thc amounts and :;�-- �-�°�
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<br /> for the periods�hat Lender requires. The insuraz�ce carrier providing che insurance shall be chosen by Borrower subject to _
<br /> Lender's approval which shall not be unreasonably withheld. lf Bonower fails to maintain coverage described abov�, �, ���•.j.
<br /> Lender may, at Lender's option,obtain coverage to protect Lender's rights in the Propeny in accordancc with para$raph 7. r� �.`'�
<br /> All insurance policics and renewals shall be acceptablc to Lender and shall include a standard mortga�e dause. T�_. .: ' °��, �:.
<br /> Lender shall havc thc right to hold thc policies and rencwals. If L,cnder rcquires, Borrower shall promptly give to L.ender •; ��K
<br /> all receipts of paid premiums and renewal notices. In t he even t o f loss,B o r r o w e r s h a l l g i v e p r o m p t n o t i c e t o t h e i n s u r a n c e '`�-•='��:'-�°'��
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<br /> carricr and Lendcr. Lcndcr may make proof of loss if not made promptly by 8orcower. I
<br /> Unlcss Lcnder and I3orrowcr otherwise agrce in wrmng,insurancc proceeds shall be applicd to restoration or rcpair of
<br /> thc Propeny ctamagcd, if thc res�oration or repair is economically fcasiblc and L.cnder's sccurity is not lesscned. If the �,
<br /> restoration or rcpair is not economically fcasibir or Lc:ndcr's securiry would bc lesscncd, thc insurance proceeds shall bc
<br /> applied to the sums secured by this Security Instrument, whecher or not the�i due�y with;any eaoess paid to Borrower. If �
<br /> Borrowcr abandons thc Property, or docs not ans�vcr within 30 days a noticc fro'm Lendcr that the insurancc carricr has
<br /> offcrcd ta sctdc a claim,then l.�ndcr m.ry collcct the insurancc prorcrds. Lendcr may use the procccds ro rcpair or restorc '
<br /> the Properry or to pay sums sccurrd by this Security lnstrument, whcthcr or not thcn duc. Th�30•d�ry period will begin i
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<br />� 1 Wll{VII IIK�IIV��\��J��.�.... .. ''.__.- --.-_--- ..
<br /> Unless Lendcr�uid Borrower otherwise agrce in writing, any application uf procecdy to principal shall noe extend or (
<br /> � postpunc thr duc datc of thc munthly payments rrterrcJ ro in paragraphs 1 :md 2 or changc thc amount o(thc paymcnts. If ,
<br /> � undcr paragraph 21 thr Property is acquircd by l.cnder. Burruwcr's right to any insurancc policics and procceds resuiting f
<br /> frum damagc to thc Prupert)• prior ro thc acquisition shall pass ro Lendcr to thc extcnt ot the sums secured by this Sccurity I
<br /> Instrumcnt inuncdiatcly privr to�hc acyuisitiun. ;
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