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<br /> UN1FOR�1 Cav�ronN7's. Horrower and Lender covenant and agree us fbllaws: 9Q���3��
<br /> 1. PAymeM af Arincipal and Inlerest;Prepayment ae�d Late Ch�rges. Horro�ver shall promptly pay when duP
<br /> the principal of and interest on the debt evidenced by the Nate And any prepayment and late charges due under the Note.
<br /> t. Funds for Taxes and Insurance, St�bject tc+applicable law or to a writtea wAiver by Lender.Harrower shAl!pay
<br /> ta Lender on the day monthly payments are due under the Note,unti!the Nate is paid in Pull,a sum ("�unds")equal to
<br /> � one-twelRh of: (a) yearly taxes and asscssments which may attain priority over this Security lnstrument; (b) yearly
<br /> leasehold payments ar graund rents on the Property, if any; (c) yearly hazard insurance premiums; und (d) yeurly
<br /> mortgage insurAnce premiums,lP any.These�tems are calted"escrow items."I.ender may estimate the Funds due un ii�r
<br /> busis of current data and ressonable estimates of future escrow items.
<br /> The Funds shall be held in an institution the deposits or accounts oPwhich are insured or guaranteed by a Pederal or
<br /> state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the cscrow items.
<br /> � Lender may not charge for holding and applying the Funds,analyzing the account or verifjring the escruw items,unless
<br /> . Lender pays Bonower interest on the fiunds and upplicable law permits Lender to make such a charge. Horrower and
<br /> Lender may agrce in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable 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,without charge,an annual accounting of the Funds showing credits ar,d 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 Instrument.
<br /> If'the amount of the Funds held 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 excess shall be,
<br /> , at Bonower's option,either promptly repaid to Borrower ar credited to Honower on monthly payments of Funds.If the
<br /> � amount of the Funds held by Lender is not sufticient to pay the escrow items when due,Borrower shall 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 lnstrument,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 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. Applles�Non o!Payments. Unless applicahle law provides otherwise,all payments received by L.ender under
<br /> paragraphs l and 2 shall be applied:flrst,to late charges due under the Note;second.to prepayment charges due under the
<br /> , Note;third.to amonnts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4. Cdasges;Lieas. Borrower shall pay all taxes,assessments,charges,fines and impositivns attributable to the
<br /> Property which may attain priority_over this Security lnstrument, and leasPhold payments or ground rents, if any.
<br /> , Borrower shall pay these obligations in the manner provided in paragraph 2,or if not paid in that maaner,Borrower shall • .
<br /> � pay them on time directly to the person owed payment.Bonower shall promptly furnish to Lender all notices of amounts
<br /> i to be paid under this paragraph.If Borrower makes these payments directly,Bonower shall promptly furnish to Lender �
<br /> I receipts evidencing the payments. ;
<br /> . isorruwer saaii prompity discharge nny iicn wi�ieii iibs N;ic„�iy�.er�hi��:.u;�ty I;��.ra:u�s:. ::ssl��ss�'��s:{�; r --,_,�
<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 /> faith the lien by.or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to
<br /> � prevent tht enforcement of the lien or forfeiture of any part of the Property;or(c)secures from the h�lder of the lien an -__
<br /> � agrcement satisfactory to Lender subordinating the lien to this Security Instrument.If Lender determines that�ny 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 idtntifying 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 af noticc. '
<br /> S. Hazwrd 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"eatended coverage"and any other hazards for which Lender
<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 Bonower 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. t'
<br /> Lender shall have the right to hold the policies and renewals.If I.ender requires,Bonower shall promptly give to I.ender
<br /> all receipts of paid premiums and renewal notices.In lhe event of'loss,Borrower shall give prompt notice to the insurance -"�
<br /> 1 carrier and Lender.I.ender may make proof of loss if not made promptly by Borrower. ��"�
<br /> � Unless I.ender 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. If the ,
<br /> � restoration or repair is not xonomically feasible or Lender's security would be lessened,the insurance proceeds shall be �
<br /> applied to the sums secured by this Security Instrument,whether or not then due,with any excess paid to Borrower.If _
<br /> Borrower abandons the Propeny, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br /> offered to settlea claim,then Lender may collect the insurance proceeds.Lender may use the proceeds to repair or restore
<br /> � the Property or to pay 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 Lender and Borrower 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 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 acquisition shall pass to Lender to the extent of the sums secured by this Security
<br /> lnstrnment immediately prior to the acquisition.
<br /> 6. Preservsttion and Maintenance of Property;Leaseholds. Borrower shall not destroy,damage or substantially
<br /> ' change the Propeny. allow the Propeny to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br /> Borrower shall comply with the provisions oPthe lease,and if Borrower acquires fee title 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 Insurance. If Borrower fails to perform the ;
<br /> � covenants and agreements contained in this Security Instrument,or there is a legal procee�ing that may significantly aRect , .
<br />_ ixn�ter's nghts in the Prat+erty (snch as a nrnr.ee�ing in F�aokruntcy. nrobate. for condemnation or to enforce laws or '
<br /> � regulations),then L.ender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br /> in the Property. i.ender'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 /> Lender may take action under this paragraph 7.Lendcr does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secuted by this �
<br /> Security Instrument. Unless Borrower and i.ender agree to other terms of payment,the�c amount�sh:ill bear interest from r`-
<br /> the date of disburserr�ent at the Note rate and shall be payable, with interest, upt�n notice from Lender to Horrnaer ��
<br /> � rcquesting payment. , 1,
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