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<br /> UNIFORM CQYGNANTS Borrower and Lender cavenant and agree ac fi�llows:
<br /> 90--° l003�7
<br /> l. Psyment of Principitl Aed Interest;PrepAyment and LAte Charges. Bnrraw��r shpll prompcly pay when due
<br /> the�rincipai oPand interest on the debt evidenced by the Note and any prepayment�nd late�hurge�due under ihe Note.
<br /> 2, i�uad�fur Tax�xnd lrtsur�nce. Subject to applicable law or to a wntten wnive�by Lender,Borrower�hall pay
<br /> � to I.endcr on tl►e day m�nthly payments are due under the Note, until the Note is paid in full,a sum('•Fundc")equal to
<br /> onrtwelRh oP: ta) yearty taaes and assessments which may attain priority over thic S�:curity Inst�ument; {b) yearly
<br /> leasehold paymants or ground ronts on the Propeny, if any; (c) yearly hazard insurance premiums; and fd) yearly
<br /> � mortoage iastrenee prtmic�ms,if sny.These items�rc caZla!"�..cro�:•it:ms."L:nd;.r may csiimat,th:. Funds rluc on thc -
<br /> b�sis oPcurrent data and reasonabie estimates of future escrow items.
<br /> The Funds shal!be hetd in an institutiun the deposits or accaunts of whirh are insured or guaranteed by a federal or
<br /> state agency(including Lender if Lender is such an institution). Lender shal) �pply the Funds to pay the escrow items.
<br /> I,ender may not charge for hulding and applyin&the Funds,analyzing the account er verifying the escrow items,unless
<br /> I.ender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br /> Lender may agree 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 ta 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 and debits to the Funds and the
<br /> purpose for which each debit to the Funds was made.The Funds are pledged as additiona!securily for the sums secured by
<br /> � this Security Instrument.
<br /> lf the amount of the Funds held by Lender,together with the future manthly payments of Funds payable prior to
<br /> the due dates af the escrow items,shall excoed the amount reyuired to pay the escraw items when due.the excess shall be,
<br /> at Borrower's option,either promptly repaid 3o Horrower or credited to Banower on monthly payments of Funds.If the
<br /> amount of the Funds held by Lender is not suRicient to pay the escrow items when due,Borrower shall pay ta Lender any
<br /> amount necessary to make up the deflciency in one or more paymcnts as required by Lender.
<br /> Upon payment in full of all sums secured by this Security lnstrumont,Lender shall promptly refund to Borrower
<br /> any Funds held by Lender.If under paragraph 19 the Property is sold or ucquired by Lender,Lender shall apply,no later
<br /> than immediately prior to the sale of the Praperty or its acquisition by Lender.any Funds held by Lender at the time of
<br /> ap�lication as a credit against the sums secured by this Security Instrument.
<br /> 3. Appllcation of Payments. Unless applicable law provides otherwise,a11 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. �arges;Liens. Borrower shall pay all taxes,assessments,charges,flnes and impositions attributable to the
<br /> � i'roperty which may attain priarity over this Security lnstrumeni, and leasehold 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 manner,Borrower shall ' '
<br /> � pay them on time directly to the person owed payment.Borrower shall promptly furnish to Lender all notices oPamounts '
<br /> ' to be paid under this paragraph. If Borrower makes these payments directly.Borrower shall promptly furnish to Lender .
<br /> receipts evidencing the payments.
<br /> Bonower shall promptly discharge any Iien which has priority over this Security Instrument unless Borrower:(a) �
<br /> agras 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 the enforcement of the lien or forfeiture of any part of the Property;or(c)secures from the holder of the lien an
<br /> agreemeni satisfactory tv Lender subordinating the Iien 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 Bonower a ,x-=
<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 /> — S. Ha�ard Insarance. Borrower shall keep the improvernents now existing or hereafter erected on the Property f
<br /> insured against loss by Sre,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 Lender requires. The
<br /> insurance carrier providing the insurance shall be chosen by �onower subject to Lender's approval which shall not be f
<br /> unreasonalsly withheld. t
<br /> All insurance policies and renewals shall be acceptable to Lender and sha11 include a standard mortgage clause. i
<br /> Lender shall have the right to hold the policies and renewals. If Lender requires, Bonower 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 /> carrier and Lender.Lendet may make proof of loss if not made promptly by Borrower. '`��
<br /> Un1GSS Lender and Bonower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair �.��'� -
<br /> of the Property daanaged,iP 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 tre lessened,the insurance proceeds shall be � •
<br /> appliod to the sums secured by this Security Instrument, whether or not then due,with any excess paid to Borrower. If
<br /> Bonower abandons the Property,or daes not answer within 30 days a notice From Lender that the insurance carrier has �
<br /> ott'ered to settle a claim,then Lender may collect the insnrance proceeds.L.ender may use the praceeds 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 8orrower otherwise agree in writing,any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments refettesi to in paragraphs 1 asid 2 or change thc amonnt of the pay�nents.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 Property prior to the acquisition shall pass to Lender tc►the extent of the sums secured by this Security
<br /> Instrument immediately prior to the acquisition. �
<br /> 6. Preservation and Mnintenance of Property;Leaseholds. Borrower shall not destroy,damage or substantially
<br /> _ change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br /> Honower shall comply with the provisions of'the lease,and if Borrower acquires fee titie to the Property,the leasehold an� -- _--
<br /> fee title shall not merge unless Lender agrees to the merger in writing. � '
<br /> 7. Protectton o! Len�er's Rights in the Property; Mortgsge Iesurance. If Borrower fails to perform the
<br /> covenants and agreements contained in this Security Instrument,or there is a legal proceeding that may signi6cantly affect �
<br /> Lender's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or to enforce laws or �
<br /> ���, �ronlatinhc���nr.+n T�;;r��!����II�:.��yq��'r„::�ifiic"ZCi iS ili;Cf8587j%FO Ni3ICt;i IitC va3llC O�tIIC Y�OpCRy 8T10 LCl1�Qf'S i1�11[S
<br /> -� in the nroperty. I.end�r's actions naay include paying any sums secured by a lien which has priority over this Security �
<br /> — � Instrument,appearing in cdurt,paying IeasQnable attorneys'fees and entering on the Property to make repairs. Although �
<br /> L,ender may take actiotj under this para�raph 7,L,ender does not have to do so.
<br /> Any amounts djsbursed by Lend�r underihis paragraph 7 shall become add�tional debt of Borrcnver secured by this �
<br /> Security Insirument.Unless Borrowcr and Lcnder agree to othcr terms of payment,thesc amounts shall bear intcrest from �
<br /> � the date af disbursement at �he Note rate and shall be payablc. with intcrc�t. upnn nut�ce from Lendcr ta Rnrmwer ���
<br /> requesUng�aymrnt.
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