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<br /> UNIFORM CoVENANTS. Borro�ver und Lender cavenant and agrec as follows:
<br /> 1. Payment of Principal And Enterest; Prepav►�ent And I.at�Charges. Barra�ver shall promptl,y pay�vhen due
<br /> the principa!of and interest on the debt evidenced by the Note und any prepayment and late charges due under the Note.
<br /> 2. Funds fo�Taxes sued Insuranse. Subject to applicable la�•or ta a�vritten waiver by l.ender,Barrower shall pay
<br /> � to Lender an the day manthly puymenis are due under the Note, until the Note is paid in full,a sum("Funds")equal to
<br /> one-twelflh of: (a) yearly taxes and assessments ahich may attain priority over this Security Instrumrnt; �b) yearly
<br /> leasehald payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> � martgAge insurance premiums,it�any.�l hese�tems are calied"escrow�tems."l.enaer may est�mate the runds due on the -
<br /> basis of cur�ent data and reasonable estimates of future escrow items.
<br /> The Funds shall be held in an institution the deposits or accaunts of which are insured or guarant�ed by a federal or
<br /> state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escraw� items.
<br /> Lender may not charge for holding and applying the Funds,analyzing the account or verifying the escrow items, untess
<br /> I.ender pays Bonawer interest on the Funds and applicable law permits Lender to m�ke such a charge. Banower and
<br /> I.cnder may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> reyuires interest to be paid,Lender shall not be reyuired tu pay Borrower any interest or et�rnings on the Funds.Lender
<br /> shall give to Borrower,without charge,an annual accounting of'the Funds showing credits and debits to the Funds and+he
<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 Instrument.
<br /> If the amount of the Funds held by Lender.together with the future monthly payments of Funds payable priar to
<br /> the due dates of the escrow items,shall exceed the amount reyuired to pay the escrow items when due,the eacess shall be,
<br /> at Borrower's option,either promptly repaid to Banower or credited to Borrower on monthly payments of Funds. IP the
<br /> � amount of the Funds held by Lender is not sufficient to pay the escrow items when due,Borrower shall pay to Lender any
<br /> amount nccessary to make up the deficiency in one or more payments as required by Lender.
<br /> Upon payment in full of all sums secured by this Security ]nstrument.Lender shall promptly refund to Borrower
<br /> any Funds held by Lender.If under paragraph 19 the Property is sold or acquired by Lender,Lender shall apply.no later �
<br /> than immediately prior to the sale of the Property or its acquisiiiun 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. Appticatlon oY Payments. 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 /> Note;third,to amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4. ChArges;Liens. Borrawcr shall pay all taxes,assessments,charges,fines and impositions auributable to the
<br /> Property which may attain priority.over this Security Instrument, and leasehold payments or ground rents, if any.
<br /> Borrower shall pay these obligations in the manner provided in paragraph 2,or if nos paid in that manner,Bonower 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 promptly furnish to Lender :
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<br /> receipts evidencing the payments. ,
<br /> � $orrower sita7i prompt'ry discharge any tien which has priority over tnis Securiiy in�irumrui unka,Sui:vwei:{aj ; - _
<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 /> faitli the lien by.or defends against enforcement of the lien in,legal proceedings which in the Len.der's opinion operate to � r
<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 �
<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. �:
<br /> 5. Ha�rd Insut�ance. Borrawer 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 I.ender
<br /> requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br /> ' insurance carrier providing the insurance shall be chosen by Borrower subject to 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.If Lender requires,Borrower shall promptly give to I.ender �'
<br /> all receipts ospaid premiums and renewal notices.In the event of lass,Borrower shall give prompt notice to the insurance � .
<br /> carrier and Lender.Lender may make proof of loss if not made promptly by Borrower. ���°rt
<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 not lessened. If the .
<br /> restoration or repair is not economically feasible or Lender's security would be les,sened, the insurance proceeds shall be ,
<br /> applied to the sums seeured by this Security Instrument,whether or not then due,with any excess paid to Borrower. If
<br /> Borrower abandons the Property,or dces not answer within 30 days a notice from I.ender that the insurance carrier has
<br /> offered to settl�a claim.then Lender may collect the insurance proceeds.Lender may use the proceeds to repair or restore
<br /> the Property or to pay sums secered by this Security Instrument.whether or not then due.The 30-day period will begin
<br /> when the notice is given.
<br /> Unless Lender and Borrowet otherwise agree in writing,any application af 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 amouns of the payments.lf
<br /> under paragraph 19 the Property is acyuired by Lender,Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br /> lnstrument immediately prior to the acquisition.
<br /> 6. Preservation snd Maintenance of Property;I.easeholds. Borrower shAll not destray,damage or suhstantially
<br /> change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br /> ��� $orrower shaq comply with the provisions of the lease,and if Borrower acquires fee title to the Property,the leasehold and %_--___
<br /> � fee title shal!not merge unless Lender agrees to the merger in writing. '
<br /> 7. Protection of Lender's Rights in the Property; Mortgsge Insurance. If Borrower fails to perform the ,
<br /> covenants and agreemei�ts contained in this Security Instrument,or there is a legal proceeding that may significantly aft'ect ,
<br /> � L,ender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforee laws or �
<br /> regulations),then Lender may do and pay for whatever is necesxary to protect the value of the Property and Lender's ri�hts
<br /> in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security �
<br /> L instrument.appearing in court,paying reasonable attorneys'fees and entering on the Property to make repairs.Although �
<br /> l.ender may take action under this paragraph 7,Lender does not havc to do so.
<br /> Any amounts disbarsed by Lender under this paragraph 7 shall bca�mc additional debt of Borrower�ecured by this d
<br /> Serunty Instrument. Unless f�orr�wer and Lxnder agree tn other terms��f payment,these amounts shall bea:inicre�t fmm ru`}
<br /> —_° the date of disbursement �t the Note raee and shall be payable. tiv�th �ntcre�t, upon nnt�ce f'rom l,ender ic� Ei�rrower W
<br /> --r rcyuestmgpayment. .` '��
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