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<br /> �a�-RECQ�o�o 140238 ��---, 10693�
<br /> � UNIFI.�RM CUYENANI���orrower and Lender covena�t and agree as follo��•s:
<br /> , 1. Payment oi Priacips!an�ln4erest;PrepAyment and Late Chaeges. $orrowcr shaq pr��mptly p.iy �shen duc
<br /> the principal of and i�terest on the debt e��idenced by the Note and any prepayment and late charges due under the Note.
<br /> 2. Funds fnr Tpxes And Insur�nce. Subject ta applicAble la�v or to a written waiver by Lender,Horrower shall pay
<br /> � to I.ender on the day monthly�uyments are due under the Nate,until the Note is paid in full,a sum("Funds")equal to
<br /> one-twelflh af• (a) �•early taxes and assessrr�ents uhich may attain priority over this Security Insirument; (b) yearly
<br /> leasehold payments or ground rents on the Property, if any: lc) yearly h�a�rd inc��r�nce premi�ms; and (�? I�srly�
<br /> � mortgage insurance premiums,if any.These items are called"escraw items."Lender may estimate the Funds due an the
<br /> basis of current datn and reasanable estimates oP future escrow items.
<br /> The Funds shall be held in an institution the deposits or accounts of which are insured ar guara�teed by a federal or
<br /> state agency (including Lender if'Lender is such an instit�etion). Lender shall apply the Fundc ta pay the escrow items.
<br /> Lender may not charge for holding and applying the Funds.analyzing the account ar verifj�ing the escrow items, unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits Lender ta make such a charge.Horrower and
<br /> Lender may a�ree in writing that interest shall be paid on the Funds. Unless an agreer,�ent is made or upplicable law
<br /> requires interest to be paid,Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br /> shall give to Borrower.witr�out 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 pledged as additional security for the sums secured by
<br /> this Security lnstrument.
<br /> If the amount oP the Funds hetd by Lender,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 sha11 be,
<br /> at Borrower's option,either promptly repaid ta Borrower or credited to Barrower on.monthly payments oP Funds. If the
<br /> amount of the Funds hetd by Lender is not sufficient to pay the escrow items when due,Borrower shali pay to Lender any
<br /> amount necessary to make up the deflciency in one or more payments as required by Lender.
<br /> Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Bonower
<br /> any Funds held by Lender.If under paragraph 19 the Property is sold or acquired by Len�er,Lender shall apply,no later
<br /> than immediately prior ta the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of
<br /> application as a credit against the sums secured by this Security Instrument.
<br /> 3, Application of PAyenents. Unless applicable law p�ovides 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 /> Note;third.ta amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4. Chs►rges;Liens. Borrower shal)pay all taxes,assessments, charges, fines and impositions attributable to the
<br /> Property which may attain priority,over this Security Instrument, and leasehold payments or ground rents, if any. � '
<br /> Borrower sha11 pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall '
<br /> pay them on time directly to the person owed payment.Borrower shall promptly furnish to Lender all notices of amounts �
<br /> to be paid under this paragraph. If Borrower makes these payments directly.Borrower shall pro��ptiy fnrnish tv I.ender
<br /> receipts evidencing the payments.
<br /> Bc�rrower shall promptly diseharge any lien which has priority over this Security Instrument unless Borrower: (a) { J�v
<br /> agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)aontests in good -
<br /> faith the lien by,or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to -
<br /> prevent the enforcement of the lien or forfeiture of any part of the Property;or(c)secures from the holder of the lien an `
<br /> agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of �
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<br /> the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br /> notice identifying the lien.Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days ' —
<br /> of the giving of notice. i
<br /> : 5. Hazard Insurance. Borrower shall keep the improvements 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 for which Lender
<br /> requires insurance. This insurance shall be maintained in the amounts and for the periods that I,ender requires. The ^
<br /> ' insurance carrier providing the'insurance shall be chosen by Borrower subject ta Lender's approval which shall not be �
<br /> � unreasonably withheld. � � •
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. �"
<br /> Lender shall have the right to hold the policies and renewals. 1f Lender requires, Borrower shall promptly give to Lender
<br /> : all receipts of paid premiums and renewal notices. ln the event of loss,Borrower shall give prompt notice to the insurance '���
<br /> carrier and Lender.Lender may make proof of loss if not made pramptly by Borrower. . �
<br /> Unless Lender and Borrower otherwise agree in writing.insurance proceeds shall be applied to restoration or repair
<br /> of the Propeny damaged.if the restoration or repair is economically feasible and Lender's security is nat lessened. If the
<br /> restoration or repair is not economically feasible or I.ender s security would be lessened, the insurance proceeds shall be
<br /> applial to the sums secured by this Secvrity Instrument,whether or not then due,with any excess paid to Borrawer. 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.Lender may use the proceeds to repair or restore
<br /> ihe Property or to pay sums securecl by this Security lnstrument, whether or not then due.The 3U-day period will begin
<br /> when the notice is given.
<br /> Unless Lender and Borrower othenvise agree 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 Lender,Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the aequisition shall pass to Lender to the extent of the sums secured by this Security
<br /> lnstrument immediately prior to the acquisition.
<br /> 6. Preservation and Maintenartce of Property;Leaseholds. Borrower shall not destroy,damage or substantially
<br /> -- change the Property, allow the Propeny to deteriorate or commit waste. If this Security lnstrument is an a leasehold, —
<br /> �` Borrower shall comply with the provisions osthe lease.and if Borrower acquires fee tit�e to the Property.the leasehold and �
<br /> fee title shall not merge unless Lender agrees to the merger in writing.
<br /> 7. Protection of Lender's Rights in the Property; Mortgage lnsurance. It Borrower fails to perform the
<br /> covenants and agreements contained in this Security Instrument,or there is a legal proceeding that may significantly affect �
<br /> � I.ender's rights in the Property (such as a proceedin�¢in bankruptcy. nrnbate. fnr��n�+P.nr.stier. er :a csst'orcc::,•�;;;. �"!,�'
<br /> regulations).then Lender may do and pay for whatever is necessary to protect the�•alue of the Property and Lender's rights �
<br /> L in the Properry. Lender's actions may �ndude paying any sumc secured by a lien which has priority over this Security �
<br /> Insttument,appearing in court, paying reason:sble attorneys'fees and entering on the Praperty to makc rep:sirs.Although
<br /> i.ender may take action under this paragraph 7.Lender does not have tv do so. ��
<br /> };' Any amaunts d�sbursed by Lender under this paragraph 7 shall bec�me additionat debt uf Horrnwer�ecured hy th'is �
<br /> Security Instrument.Unless Nnrr�wer and L.ender agree tn othcr terms of�aymr���,�hr.c am��unts ehall hcar intcrc�t t���m
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<br /> __�; the datc of di�bursemrnt at �he I�r��te ratc and �hall r,e ray;ihlc. with intcrest, u�an n��ticc fr��m 1 endrr t�� N��rr�+wrr �
<br /> �+ teyueshn6 payment. ;,
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