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<br /> ; UNi�FORfiN COVENANTS.Borrower and Lender covenant and agree as fo!lows: ��_��,���� � •. ; � —
<br /> 1. Payr�ent�!P�Incipal and Intercst; Prep�yment and La4e C6�arges. Bonower shail promptfy pay when due the principal 09 � � � `�•-
<br /> and interest on the debt evisienced by the Agreement and any prepayment and late charges due under the Agreement !•� • � , �`�-`�
<br /> 2, .Appltae4ion o!Payments. Unless applicable taw pravides otherwise, all payments received by Lender under paragraph 1 � ' � ��.
<br /> . shall be applied:first,to interest due;second,to principal due;and tast,to tate charges due under the Agreement " ,
<br /> 3. Charges;Liet�s. Borrower shall pay all taxes,assessments,charges,fines and impositions atfributa6ls to Lhs Property vu�ich � � �
<br /> " may attain priority over this Securiry Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these ' �
<br /> � obligations direcUy to the person owed paymen� Borrouver shalt prompify fumish to Lender all noiices of amounts to be paid � �
<br /> under th�s paragr�ph and shall prompUy fumish to L.ender receipts evidencing tha payments. Barcovrer shall promptty � - - �-- :_
<br /> ° dischargo any lien which has priori4y over this Security Instrurqtent untess Borrower. (a)agress in writing L�o tfie payment of � f. • •
<br /> the obligation secured by the lien in a manrter acaeptable to Lender,(b)contests in good faith the lien by,or defends against F ` � �
<br /> enforcement af the lian in, legal proceedings which in the Lertder's opinion operate to prevent the enforcement of the lien or �
<br /> fo�tei3ure of any part of the Property; or (c) secures from the holder of the lien an agreement satisfaciory to Lender � � � i
<br /> subordinating the tien to this Security Instrument If Lender determines that any part af the Propsrty is subjeci to a lien which " . . .—
<br /> : s may altain priority aver this Security Instrument,Lender may give Borrovrer a notice idontifying the lien.BoROwer shail saYssfy " .' , . -
<br /> � the lien or take one or more of the actions set farth abnve within 10 days of the gnring of notice. � -
<br /> ! 4. Hezar�Insurance.BoRawer shall keop the improvements now existing or hereafter erected on tile Property insured against � ��.r�_.
<br /> ? [oss fay fire, haaards included within the term'extended coverage" and any other hazards, including floods er floodin g,tor � -_
<br /> which Lender requires insuranc�. This insurance shall be maintairted in the amounts and for the Rerieaz�s thaY Lender .
<br /> �� requires. The insurance carrier �;oviding the insurance sha11 be chosen by Borrower subject to Lender's approval which •� • ' .: '—
<br /> shall not be unreasanabiy withheld. If Borrawer fails to maintain coverage as describad above. Lender may, at Lende�'s � ' . ` . . • :..�
<br /> . � option,obtain oovera�e to protect Lende�s rights in the collateral in accofdance with paragraph 6.All insurance poliaes and � � . ' �,"""°
<br /> , :� renewals sNall be acceptabte to Lander and shail inctude a standazd moRgage clause.Lertder shall have the right M hofd the �{ � �"���• `�'"- =•�
<br /> olicies and renewals. If L.ender n � �;�:-�.� '� .�?�
<br /> p roquires, BoROwer shall promptly give to Lender a..�:�ts of paid premiums and renewa! t` . .�,�v�� ��; � •.
<br /> , ., .,;.. ., ...,t•:�
<br /> .� . notices. In the event of loss. Borrrnver shall give prompi notice to the insuranoe carr�-�:and Ler.dar. Lender may make proof . ;,�� �,--`--
<br /> of loss if not made prompUy by Borrower. Ue�t�ss Lender and Borrower othervuise agree in wri�ra�. insu�ance proceeds sh�"1 - � ;,;'� —
<br /> be applied to restoration or repair of the Propa:�y damagod,it 4he restoration or repair is econom:�lty feasible and Lende�s � ' �,,,` ?��y' " °
<br /> _ securi t y is not lessene d. I#t he restoration or repair is not economis�lly feasible or Lender's security woutd be trssenad,th0 � : � ��'Pi..
<br /> _ insurance proceeds shall he apgfied to the sums secured by this Security Instrument, whether or no!then due,with any �'',.;��:; � �. � '
<br /> excess � to Borro�rer. If 8orrflwer abartdons the Pro e '`�;:;:=;���s•�_ �
<br /> F� p rty, or does not answer wnhtn 30 slays a notice hom Lender thag ,:_�;,z � , '
<br /> the insuranr,e c��r h,�offered to settte a claim, then Lender may ca�,:a�t the insurance proceeds. Lender may use t':a ' � I —
<br /> ";;�.:, . .
<br /> pracee ds to rep a ir 0:-�s t ore t he Property ar to pay sums secured by t'�:�Sacurity Ir.strument,whether or not then due.Tr�a ;-=„���� ..",;� :� t::
<br /> 30-day period will bac'n when the not�ce is given. Unless Lender artd Borrowar o�c�c►r.ise agree in wriUng,any applicatlon d,• •� ��•:.`i��°:�;��,�. -
<br /> raceetis to rinci al shall not��end or os ono the du0 date of the month ' ���� �
<br /> P P P p tp y payments refeRed to in paragraph 1 or :���:[::� .
<br /> change 4he amount of tfle payments. if under paragraph 20 the Properiy is acquired by Lender, Borrower's right to any � •� .����,�� . ..�
<br /> insurance poltciss and proceeds resufUng from damage to the Property prior to the aoquisition shall pass to Lender to the •'�� ��" a:
<br /> extent of the sums secured by this Securi2y Instrument immediately prior to the acqulsition. =��'".-- - ✓�: `. .-
<br /> . 5. Preservation and Main4enance of Property;Leasehofds.8orrower shall noi destroy,damage or substantially cbange the y �-�� �:� y
<br /> Property,other than in acxordance with the Agreament, allaw the Property to deteriorate or commit waste. N this Security ��`�"' ,���
<br /> . ��-.,.
<br /> Instrument is on a teasehold, Borrower shall comply with the provisions of the tease,and if Sorrower aoquires fee tiUe to the • • ��'�. .-:.,�
<br /> P�operty,the teasehold and fee tiUe shal!not merge untess Lender agrees to the merger in wriUng. ���--�;� ;: -�
<br /> 8. Protection o4 Lender's Rights in the Property; Moe4gage Insurance. If Borrower faits to perform the oovenants ana ,�����'�'��"�'
<br /> � agreements con4ained in this Security Instrument,or there is a legai proceeding that may signiticantly aftect Lenders rtghts i;e � .,,;.:
<br /> the Progerty(such as a proceedi�g in bankruptcy,probat9,for condemnaUon or to enforco laws or regulaUons),then Lender ;�.,,�u„� _
<br /> may���..�d pay for whatever is."cc�ssary to protect the valua of the Property and Lender's rlghts in the Property.Lender's ':;;,:;�;,;,,''Y._`~._='-�
<br /> � actio;,s�ay include paying any sums secured by a lien which has priority over this Security Instrument,appearing In court, ' .'�.tz.;;=�,c�'y-:r:•t,:,�
<br /> � payfng reasonable attomey's feea and entering on the Property to make ropairs.Aithough Lender may take ac4ton under th�, ;:.�, : ����: _°•
<br /> • ,�"°:�;,�..
<br /> � ; paragraph 6. Lender does not have to do s�. Any amounts disbursed by Lender under this paragraph 8 shail becorr� �+,�2R:,
<br /> � additicrt:d debt of Borrowsr secured by this Sacurity Ins�mant Unless Bonots�r and Lender agree to other terms of ' � � • ��!'e. �:.�•
<br /> • •'4 payme�c�,:hese amounts shall bear interest from the date cC�isbursement at the As,�sement rate and shall be payable,wi�'o ` �'� �'
<br /> interest,upon notice irom Lender to Borrower requ,ssting payment. �.�•� � �"�' —.-
<br /> . 7. inspecttan.Lender or Its agent may make reasonable enMes upon artd�respections a}the Property. ' `
<br /> 8. Condemnatfon. The proceeds of any award or claim for damages, :irect or consequenUal, in cannectlon with �� � .' � � �
<br /> condemnaUon or other taking o!any part ot the Property, or tor oonveyance in lieu of condemnaUon, are hereby assigr.� � .
<br /> � and shall be paid to Lender. In the event o!a total taking of the Properiy,the procee�s shall be applied to the sums secures . �
<br /> by this Security Instrument,whether or noi then due,with any excess paid to Borrower. In the event ot a partlal taking o!�e : � �
<br /> Property, unfess Borrower and Lender otherwise agrea in wriUng, tho s�ma secured by this Security Instrument shall � � � �. � .:�!-"=
<br /> � reduced by the alr�v�t of the praceeds mu1Up11ed by the following tr-�.�on: (a) the total amount of the suma securad
<br /> immaeliatefy bofore the taktng,divided by(b)the fair market value ot the Property imrnediatety before the taking./�ny balance � . �� ��
<br /> - . HSNE0358059� � � � i�IA�S:� •� PA�E20F5 " .
<br /> • ORIGINAL COPY �..y�� . � �
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