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<br /> UN1FORM CovENwN'rs. Borrawer and Lender covenant and agree as f�llows: �
<br /> � l. Payment of Principal and Ieterat;Prepayraent and I.ate Char�es. Borrower shall pramptly pay when duc �„�
<br /> the principal af and int�rest on the debt evidenced by the Note and any propayment and latr charges due under the Note. =
<br /> � 2. Fund�[or Taxa and Insu�ance. 3ubject to applicable law or to a written waivlr by Lender,Borrawer shall pAy � "'
<br /> � to Lender un the day monehiy psyments are due undGr the Note.unu!the Note�s paid i�full,a sum("Funds")equal to � � �
<br /> one-twelRh of: (a�.yeariy t�uces and assessments which may attain priority over this Security lnatrumeot; (b) yearly � r
<br /> lasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance piemiums; and (d) yearly ,j o �
<br /> � mortgage insunnce premiums,if any. These items are called"escrow items."Lender may estimate the Funds due on the � a -�
<br /> basis of cunent dau and reasonable estimates of tl�ture escrow items.
<br /> The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federa!or
<br /> � state agency(including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow itoms.
<br /> Lender msy not charge for hplding and applying the Funds,analyzing the acconnt or verifying the escrow items,unless
<br /> I.enda psys Borrower interest on the Funds and applicable!sw permits Lender to make such a charge. Borrower and
<br /> Lender may agree in writing that intorest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> �quires interest to be paid,Lender shall not be required to pay Borrower any interest or earnings on the Funds. I.ender
<br /> shaU give to Borrower�without charge.an annual accounting of the Funds showing credits and debiu ta 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 oi the Funds held by Lendcr,together with the future monthly pay ments of Funds payable prior to
<br /> the due data of the escrow items�shall ea�cad the amount reqnired t�pay the escrow items when due,the ezcas shall be.
<br /> at Homower's option,either promptly repaid to Bonower or credited to Horrower on monthly payments of Funds.If the
<br /> amount of tbe Funds held by Lender is not sufficient to pay the escrow items when due,Borrower shall pay to Lender any
<br /> unount necessary to make up the deficiency in one or more payments as required by Lender.
<br /> Upon payment in full of all sums secured by ihis Secnrity Instrument.Lender shall promptly refund to Borrower
<br /> any Funds held by Lender.If unrler paragraph 19 the Property is sold or acquired by Lender,Lender shall apply,no Iater
<br /> than immaliately pripr to the sale of the Property or its acquisition by Lender.any Funds held by I.ender at the time of
<br /> application u a credit against the sums secured by this Security Instrument.
<br /> 3. Applintion ot��ye�snte. Unlas appl':zable lasv provides othenvist,ail paymcnts receiv�d by Leader under
<br /> pangraphs 1 and 2 shaU be applied:first,to late charges due under the Note;second,to}�repayment charges due nnder the
<br /> Notr,third,to amounts payable under puagraph 2;fourth,to interest due;and last,to principal due. .
<br /> . 4• Cl�ar�s:Lien. Borrowe*sha11 pay aU taaes,assessments,charges.tines and impositions Attributable to the
<br /> � Property which may s�ttain priority,over this Socwity Instrument� and leasehold payments or ground rents. if any.
<br /> Borrowrer shaU p�y these oblig�tions in the manner providod in paragraph 2,or if not paid in that manner,Borrower shall ;
<br /> D�v them nn�im��M�Y�:�5��S'°.�SS II•:1:,i3}7`..3'ii;�i�i.anw'�Pfi3F�cP S,iali NPGSt�rtij�ilutil�it lU LCItaCf SIl itOf1CCS Oi ililfOUlliS - -
<br /> � to be paid undu this puagraph.If Borrower makes these payments dirxtly,Borrower shall promptly furnish to Lender �
<br /> raxipts evidencing the paymrnts.
<br /> Borro�ver shall promptly discharge any lien which has priority ovcr this Security Instrument unless Horrower:(a)
<br /> , agea in w�riting to the paymrnt of the obligation secwed by the lien in a manner acceptable to Lender;(b)contests in good ;�-
<br /> fdth the lien by,or defends against enforcement of the lirn in,legal prnceedings�vhich in the LendePs opinion operate to � -
<br /> prevent the rnforcement of the lien or forfeiture of any part Qf the Property;or(c)socures from the holder of the lien an
<br /> agrament satisfactory to Lender subordinating the lien to this Securiry 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 BoKrower a �
<br /> notice identifying the litn.Borrower shall satisfy the litn or take one or more of the aGtions set forth above within 10 days
<br /> of the giving of notice. ��
<br /> s• Hara*d Insu�ance. Bonower 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 far which Lender ` `
<br /> roquira insurance. This insumna shall be maintained in the amounts and for the periods that Lender requires. 'I'he ��
<br /> insurance curier providing the insurancc shall be chosen by Borrower subject to Lender's approval which shall not be
<br /> um+aisonably withheld. .,�
<br /> All insurance policies and renewals shall be acapuble to Lender and shall incbde a standard mortgage clause. '` �
<br /> La�der shall have the sight to hold the policics and renewals.If Lender requires,Borrower shall promptly give to Lender '
<br /> all receipts of paid premiums and renewal notices.In the event of loss.Borrower shall give prompt notice to the insurance
<br /> curier and Lender.Lender msy make proof of loss if not made promptly by Borrower.
<br /> Unless Lender and Horrower otherwise agree in writing,insurance procoods shall be applied to restoration or rcpair
<br /> of tbe Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened. lf'the
<br /> restontion or repair is not economically feasible or Lender's security would be lessened,the insurance proca:ds shall be
<br /> applied to the sums socured by this Security Instrument, whether or rtot then due.with any excess paid to Borrower. If
<br /> Borrower abandons the Property,or does not answer wethin 30 days a notice from I.ender that the insurance carrior has
<br /> o6ered to settle a claim.then Lender may collxt the insurance proceeds.Lendtr may nse the proceeds to repair or restore
<br /> the Property or to psy sums secured by this Security Instrument,whether or not then due.The 30-day period will begin
<br /> when the notice is given.
<br /> Unless Y.ender and Bonower otherwise agree in writing,any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to ia paragraphs 1 and 2 or change the amount of the payments.If
<br /> under paragraph 19 the Property is acquited 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 I.ender to the extent of tht sums secured by this Security -_ _
<br /> � Instrument immediately prior to the acquisitioa. � T
<br /> 6. Presenatlon and MdetenanceolPropert�;I,e�hold:. Borrower shall not destroy,damage or substantially
<br /> change the Property� allow the Property to deteriorate or commit waste. 1£this Security Instrument is on a leasehold,
<br /> Borrower shall comply with the provisions of the lease,and if Borrower acquires fee title to the Property,the leasehold and
<br /> � fa title shall not merge unless Lender agras to the merger in writing.
<br /> 7. Protection of Leeder's Righb in the PropeRy; Mortgage Insunnce. If Borrower fails to perform the �
<br /> covenants and agreements contained in this Security Insirument,or there is a legal proceeding that may significantly affect �
<br /> LLender`s rights in the Property (such as a procading in bankruptcy, probate, for condemnat�on or to enforce laws or �
<br /> regulations),then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights �d
<br /> � wn the Property. Lender's act�ons may include pay�ng any sums secuted by a lun which has prior�ty over this Security �n
<br /> � Instrument.appearing in court,paying reasonable attorneys'ftes and entenng on the Property to make repa�rs. Although �
<br /> � Ltnder may take action under this paragra�}�7, Leuder does not have to do so . �.,.
<br /> �, Any amounts dtisbursed by Lender under this paragraph 7 shall become add�t�anal deht�f Borrawer cecured by this , .
<br /> _ -_ Sec�nty(nstrument Unless Borr�wer and Lender agree to other terms�f payment,these amounts tihall hcar interest from
<br /> ��� the date of dtsbursement at thc Note rate and shall be payable, w�th in�erest, upon noure frc�m Lender tc� Burrc�wer
<br /> �',�� request�ng payment
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