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<br /> rC�- 10Ai54
<br /> UNIFORM CO�'��v�!vTS Borrower and Lender covenant a�ad agree as fallows:
<br /> � 1. P�ymcnt of Prie�cipal and Interest; Prepayment snd Late Charges. Rarrawer sliall promptly pay when due
<br /> the principal of and interest on the debt evidenced by the 1Vate and any prepayment and late chargec due under�he Nme.
<br /> 2. Fund�for Taxes and la�uran.e. Subject to applicable law or ta a written waiver b}•Lender,Bonower shall pay
<br /> to Lender on the day manthly payments are due under the Nate,until thr Nate is paid in full,a sum("Funds")equal to
<br /> orsatwelfth of: (a)�yesrly taaes and assessments which may attain priority over this Security lnstrument; (b) yearly
<br /> leuehold payments or graund rents �n the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> mortgage insurance premiums.iP any.These items are called"escrow items." Lender may estimate the Funds due on the
<br /> basis of current data and reasonable estimates of futUre escrow items.
<br /> The Funds shall be held in an institution the deposits or accounts of which are insureQ or guaranteed by a federa!ar
<br /> stste agency (including Lender if Lender is such an institution). l.ender shall apply the Funds to pay the escrow items.
<br /> Lender may not charge for holding and applying the Funds.analyzing the account or verifying the escrow items,unless
<br /> I.ender pays Horrower interest on tht Funds and applicable law permits Lender td make such a charge. Borrower and
<br /> Lender may agtee in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> � requires inter�t to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. I.ender
<br /> shall give ta Horrower,without charge,an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> purpose for which each debit to the Funds was made.The Funds are ptedged as additional security for the sums secured by
<br /> this Security Instrument.
<br /> If the amount of the Funds held by L,ender,together with the future monthly payments of Funds payable prior to
<br /> the due dates of the escrow items,shall exceed the amount required to pay the escrow items when due,the eacess shall be,
<br /> at Horrower's option.either promptly repaid to Borrower or credited to Horrower on monthly payments of Funds.If the
<br /> amount of the Funds held by Lender is not sui�icient to pay the escrow items when due,Borrower shall pay to Lender any
<br /> amount necessary to make up the deficiency in one or more payments as required by I.ender.
<br /> Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refnnd to Borrower
<br /> any Funds held by Lender.If under paragraph l9 the Property is sold or acquired by Lender.Lender shal)apply,no later
<br /> than immediately prior to the sale of the Property or its acquisition by Lender.any Funds held by Lender at the time of
<br /> — application as a credit agsinst the s�ms s�used by this Security I�strument.
<br /> 3. Appli¢adau o!P�yments. Unless applicable law provides otherwise, all payments received by Lender under
<br /> paragraphs 1 and 2 shall be applied:first.to late charges due under the Note;second.to prepayment charges due under the
<br /> Notr,third to amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4. Cbarges;Liees. Horrower shall pay ali taaes,assassments,charges.fines and impositions attributable to the
<br /> Property which may attain priority.over this Security Instrument, and leasehold payments or ground rants. if any.
<br /> nnrrower snaij pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borro�e+u shall � :
<br /> pay them on�time directly to the person owed payment.Bonower shall promptly furnish to Lender all notices of amounu '
<br /> to be paid under this paragraph.If Borrower makes these payments dircetly,Horrower shall promptly furnish to Lender � :
<br /> receipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Horrower:(a)
<br /> agras in ariting to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in goad �
<br /> faith the lien by,or defends against enforcemcnt of the lien in,legal procadings which in the Lender's opinion opsrate to � ���
<br /> prevent the enforcement of the lien or forfeiture of any part of t�e Property;or(c)secures from the holder of the lien an •
<br /> agrxmrnt satisfactory to Lender subordinating the lien to this Sccurity Instrnment.If Lender determines that any part of
<br /> the Property is subject to a lien which may attain priority over this Security lnstrument, Lender may give Barrower a
<br /> notice idrntifying the lien.Borrower shall satisfy the lien or take one or more af the actions set forth above within 10 days '
<br /> of the giving of notice.
<br /> S. Hazud Insurance. Bonower shall k�ep the improvemenu now existing or hereafter erected on the Property +
<br /> insured against loss by fire,hazards included within the term"extended coverage"and any other hazards!'or which Lender • -
<br /> requires in�urance. This insurance shall be maintained in the amounu and for the periods that Lender requires. The ;;i'
<br /> insuran�e carrier providing the insurance shall be chosen by Borrower subjxt to Lender's approval which shall not be �
<br /> unreasonably withheld. , ,�
<br /> AU insurance policies and renewals shall be acceptable to Lender and shal) include a standard mortgage clause. � -.�
<br /> Lender shall have the;ight to hold the policies and renewals. If Lender requires,Borrower shall promptly give to Lender �
<br /> all receipts of paid premiums and renewal notices.]n the event of loss.$orrower shall give prompt notice to the insurance
<br /> carrier and Lender.Lender may make proof of loss if not made promptly by Borrower.
<br /> Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair
<br /> of the Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.lf the
<br /> restoration or repair is not economically feasible or i.en�er's sxurity would be lrssened,the insurance proceeds shall be
<br /> applied io the sums secured by this Sccurity Instrument.whether or not then due,with any excess paid to Borrower. If
<br /> Borrower abandons the Property,or does not answer within 30 days a notice from Lender that the insurance carrier has
<br /> offered to settle a claim,then Lender may collect the insurance proceeds. Lrnder may use the proceeds to repair or restore
<br /> the Property or ta pay sums secured by this Security Instrument,whether or not then due.The 30-day period will begin
<br /> when th�notice is given.
<br /> Unless Lender and Borrower otherwise agra in writing,any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under paragraph 19 the Property is acquired by I.ender,Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the Propeny prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security --- _- -___-
<br /> Instrument immediately prior to the acquisition. "
<br /> 6. Preaerratlon and Maintenance ot Proper�;L,easeholds. Bonower shall not destroy,damage or substantially
<br /> change the Property, allow thc Property to detenorate or commit waste. If this Security Instrument �s on a leasehold,
<br /> Borrower sha11 comply with the provisions of'the lease,and if Borrower acquires fee title to the Property,the leasehold and
<br /> ' fee title shaU not merge unless Lender agrees to the merger in writing. �
<br /> 7. Protection of l.ender's Rig6ts in the Property: Mortgage Insurance. lf Borrower fails to perform the �ti
<br /> ��' covenants and agreements contained in this Security Instrument,or there�s a legal proceeding that may significantly affect •
<br /> __ � Lender's rights �n the Property (such as a proceed�ng in bankruptcy, probate, for condemnat�on ar to enforce laws or ��C:
<br /> regulations),then Lender may do and pay for whatever is necessary to protect the value of the Praperty and Lencier's nghts �
<br /> in the Pro p en y. Lendtr's actions may inc lu de paying any sums secured by a lien which has pnoruy o�•er th�s Secunty lt�
<br /> ' Instrumenl,appeartng in court,paying reationable attorneys'tees and entenng c�n the Propetty ta make repa�rti Althc�ugh ��(
<br /> �___j�� Lender may take action under th�s paragraph 7, I.ender daes not have to do w }
<br /> ����t Any amounts d�cbursed hy Lender under thiti�iaragraph 7�hall hec�rne addilu,n�l det�t��f He�e rnwer�ecured by fhn �
<br /> —`�`'��, Secunty Inetrument Unle�s 13orrnwer Hnd l.r�ider agree tci nther tetmti nf pnvme�et, ihetic.�mi�unt.�hall hcar inlerest Ir��tri
<br /> 'u���;!: Ihe datr of ctiahursemeril at Ihe Note rate sind tihall he payable, w�th �rilerr�t. uFx�n n„n�r fr��m I cniier t�� fin�rnwer
<br /> �'����{�e. requesting payment
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