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<br /> ' ' . a sum(hereu►"Funds°)e4ua1 to one-twetfth of(a)the yeartq taxes aIId ass�meats whu;b may he levied on the } ,: �' . ' .
<br /> . ��-�<. Property, (b)the yearly grouad re�s. if any, (c)the yeazly premium iastallments for fire and othcr harard
<br /> insaiance,rent loss;,��,•a*+�and snch other insnrans:covermg the Property as Ixader maY requi�e Pursuant - : -. ' -,'` •
<br /> —_�'-r = � to paregFaph 5 heceo� (d)die Y�Y P��'"`"�tt",�for mnitgage iasurance. if auy,aad(e)if this --��fi--<:--'.'-_ ..
<br /> � Instrument�s on a teasehold,the yearly 5xed r�ts.if aay,�mder the grouud lease,all as reasonahly esdmated ,`'�°' � .
<br />_ inuially and it+om time to timc by Lender Qn the basis of AQCeecm�n c�b�7Ls and reasonable est�ates thereof. : ����'
<br /> '. ,�. Any waiver by l�nder of a�equirement that Bonrawer pay snch F�mds may be revoke�bq Lender,in Iender's
<br /> - . soIe disaetion,at anY time aPon notite in wriring to Bor[ower. I�eader may requine Borrower to pay to Iender, - ° • _
<br /> � in advance.sach otlier Fvads for other taxes,charges,preminms,assessmenrs and imposidons ro connecdon arith �` --
<br /> , . Banoarer or ttne Property cvhich I.ender shall reasonably deem necessary w protecc l.endet's mterests(herela �'., .+:.�.. ��1�,�--
<br /> , "Other Im�ositions'). Unless otheiwise provided by applicable law, Lender may require Funds for Other � _��. .�.'
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<br /> • � � Impos'srions to be paid by Borrower ia a Iump sum or in periodic insta ts,at Leader's optIon. Collearon of ,�.
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<br /> � . . ��y i„�,ttmen�c of the anaual premium for fae and other 6a7ard insurance is araived as long as Bortower - • ::� _ _
<br />- is not m default under the Loan Dacuments a�d L°nder is rrovided�*rith satisfactory evidence of pmper coverage -� , -
<br /> � . �P�PaYment withm forty-fn+e(4�days of the a4e date o,thc premi�.,. ` ,.
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<br /> . ,..� The F�ds shall be held ia an inst�tnuon(s)the d�osits or acconnts of which are insured or gua�ueed � ;_;�--.
<br /> - . .:� by a Federal or state aSen�►(lnsluding Lender if Lend�is svrh an mstitution).Leuder shaII aPFiY the Fands w .� ' �-�-
<br /> °=., r pay said reats,ta�ces,asses�ents,msurance premtums and Other 1a�positions so tong as Borrower is aot in ----- i•
<br /> � � breach of aay covenant or agreement of Borrower m this bsaument. I.ender shall make no char8e for so holdinS � '�M1�"r�
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<br /> .. . and applying the Funds.analyzing safd accaimt or for verifying and comp�7ing said assesstpents aad b�1s,unless ;! t� �;;.:'>-''�:
<br /> . . . l�nder pays Borrower iaterest.eamings or pmfits on the Funds aud applicable law permits Lender to make suc1� . , �`'��l -
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<br /> ;,- . . a charge. Borrower and Lender may agree in writing at the time o f executioa o f t h i s I n s a�e at t h a i m t e c e s t on �:_
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<br /> . the Fands shall be paid to Bormwer,and unless such ageemeat is made or applicab2e law requires iaterest, � , '� ' ._=�''
<br />-,.: � eamings ar profits w be paid,Lender s�aU uot be required w pay Bormwer anyr mrerest,earnings or profits on ;°• t�:`��'�'�
<br /> :�r: : • the Fvads. I.ender shall give to Borrower.wit2cout charge,an annnal accouasiag of the Fuads in Lender's no:mal •.:'�;
<br /> �� ; • � ' format showing cred�s and debits to the Funds and the pncpose for which�ach debit w the.Fimds was made. :;:.:`-`"°—_
<br /> . .. The Funds are pledged as additional securiry for the svms sec�ued by this Ittstrument. ;�:;.;�'.�,:;��
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<br /> � ; If the amo�mt of the Fuads hetd by L�ender at the wne of the annual accouating thereof sball exceed the �.. -��.`,���'"
<br /> � ` , amoimt deemednecessary by Lender w provide for the payment of taxes.assessments.iasuraace prem��s,rents � - -`���;,�,
<br /> . . and OWer Imposidons,ag tiiey fall due.such exces9 shall be credited w Borrower on the nextmoathty iastallment . . , : :,�:'��_"-
<br /> ° • i or imsta»m�ts of Fuads due. If at any ffine the amo�mt of the Funds held by Lender shall be less than the amouat " =�`yr
<br /> � deemed necessary by Leader w pay taxes.assessments,insuraace premiums.rents and Other Impositions.as they J`•�.;;=:�.-:
<br /> .. fall due,Borrower shall pay w Leader aay amount necessary to make up the defciency arithia thirty days after , �;:_;..�
<br /> . � �� notice from Lender w 8orrower requesting payment thereof. - � - -
<br /> � � Upon Borrower's breach of any covenaat or agreement of Bonower in this lnsttvmeat,Lender may �,,��
<br /> - ' applY,i�any amoimt and in any order as Lender shall deteimine in Lender's sole discretion.any Funds held by . : � ��"_°
<br /> • � Lendec at the time of application(i)w pay rents.taxes,assc,gsments.insvrance premiams and Orher Impositioas � � . * , . -°.;
<br /> which are now or wiU hereatter become due.or(ii)as a credit against sums secaued by this Instrument. Upon "`. ���'"`
<br /> � "�� payment in full of all sums secured by this Iastrument,I.ender shaU prompdy refuad to Borrower any Fuads held �
<br /> - by Lender. All amounts deposited shall be held by the Lender wlthout inteaest and the amount deposited shall � °
<br /> . , not coastitute tzust funds and may be commingled wlth the geaeral funds of the Lender. . .:
<br /> . . � 3. APPLICATiON OF PAYMENTS. Unless applicable law p:ovides otherwise.all payments received ' .
<br /> •� by Leader from Borrower under the Note or this Insuument shaU be applied by Lender ia the follo�ving order • :
<br /> of priority:(i)amounts payable to Leader by Borrower under paragrapb 2 hereof:(ii)interest payable on the
<br /> : � ' � Note;(ui)priacipal of the Note;(iv)interest payable oa advances made pursuant to paragraph S hereaf:(v) • • �
<br /> �.• � principal of advaaces made pursuant to para�aph 8 hereof; (vi)interest payable on any Future Advance,
<br /> , �. � . provlded that if more than one Future Advanse is outstanding,Lender may apply payments received among the
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