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<br /> UNIFORM CoVENANTS. Bpr�ow•er and Lender covenant and agrec as Pallows: ��
<br /> l. P�yment ot Princlp�l�nd Ieteoesh Prep�yment and I,ete Charges. Borro�ver shall promptly pay�vhen due
<br /> the�rinci�al of and interest on the deht evidenced by the Note and any prepayment and late charges due under the Note.
<br /> 2, Funds fo�Taxea and Insuranee. Subject ta applicable low or to a written waiver hy Lender.Borruwer shall pay
<br /> � to Lenda on tiie day tttonti�ly payments are due under the Note,until the Note is paid in full,a sum("Funds")equsl to
<br /> one-twelfth of: (a} yearly taxes and assessments which may atlain priarity over this Security instrument; (b) yearly
<br /> lasehold papments or ground r�nts an the Pro�rty. if any; (c) y�rly hazard insurance premiums; and (d� y�e�rly
<br /> mortgage insurance premiums,if any.These items are called"escrow items."Lender may estimate the Funds dae an the
<br /> basis of current data and reasonable estimates of f uture escruw items.
<br /> The Funds sha1)be held in an institution the deposits ar accaunts of which are iasured or guaranteed by A federal or
<br /> state agency(including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br /> Lender may not charge for halding and applying the Funds,analyxing thc account or verifying the escrow items, unless
<br /> Lender pays Honower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br /> I.ender may agree in writing that interest shall be paid on th� Funds. Unless an agreemenl is made or applicable law
<br /> requires interest to be paid, I.ender shall not be required to pay Borrawer any interest or earnings on the Funds. Lender
<br /> shap give to Bonower,without charge,an annual accounting of the Funds showing credits and debits to ihe 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 exr.eed the amount required to pay the escra�v items when due,the excess shal!be.
<br /> at Borrower's option,either promptly repaid to Eorrower or credited to Borrower on monthly payments of Funds.lf the
<br /> amount of the Funds held by Lender is not sufficient to pay the escraw items when due,Bonower shall pay ta Lender any
<br /> amount necessary to make up the deflciency in one or mare payments as required by Lender.
<br /> Upon payment in ft�ll of all sums secured by this Security Instrument,Lender shal)promptly refund to Bonower
<br /> any Funds held by Lender.If under paragraph 19 the Propeny is sold or acquired by Lender.Lender shall apply,no later
<br /> than immediatefy prior to the sale oi'the Praperty 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. Applicatioa ot PAyments. Unless applicable law provides otherwise,all payments received by Lender under
<br /> paragraphs 1 end 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. Cbarges;�.iens. Borrowar shal!pay all taxes,assessments,charges�fines and impositions attributable to the
<br /> Property which m;�y attain priority over tbis 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 not paid in that manner,Bonower shall '
<br /> pay them on time directly to the person owed payment.Borrower shall promptly furnish to Lender all noiices of amounts ' .
<br /> to be paid under this paragraph. If Borrower makes these payments directly,Borrower shall promptly furnish to Lender .
<br /> rxeipts evidencing the payments.
<br /> - Honower shall promptly dischazge any lien which has priority over this Security Instrument unless Borrowrr:(a) � ,r--.
<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 ffom the holder of thc lien an
<br /> agrament 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.Bonower 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. Haurd Insuranee. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured against loss by 8re,hazards included wethin 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 roquires. 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 rene�e+als shall be acceptable to I.ender and shall include a standard mortgage clause. ' 4 `.
<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 of paid premiums and renewal notices.In the event of loss,Borrower shall give prompt notict to the insurance �
<br /> 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 shali 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 /> r�storation or repair is not economically feasible or Lender's security would be 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 /> 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.I.ender 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 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 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 /> , Instrument immediately prior to the acquisition.
<br /> 6. Preservation and Maintenance 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 /> Bonower shall comply with the provisions of the lease,and if Borrower acquires fee title to the Property,the leasehold and %=_ =—
<br /> fce title shall not merge unless Lender agrees to the merger in writing. •
<br /> 7. Protection of Lervler"s Rights in the Property; Mortgage Insnrance. If 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 /> _,___ Lender's ti�ht� in the Progerty (such as a procP?ding in bstsl:ruptc;, prot�.:tc, for c�ndcmaat'so;� ar ta c�farcc laus or ;
<br /> regulations),then Lender may do and pay for whatever is necessary to protect the value of'the Property and Lender's rights
<br /> in the Property. l.ender's actions may include paying any sums secured by a lien which has pnority over this Security �
<br /> — � lnstrument,appearir_g in court,paying reasunable attorneys'f�es and entering on the Property to make repairs. Although �
<br /> Lender may take action under this paragraph 7,Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt nf Borrower secured by this h
<br />_ - Security Instrument.Unless Borrower and l.cnder agree to other tcrms of payment,thece�mounts shal!bcar interest from ��
<br /> __ the date of disbursement at ihe Notc rate and shall be payablr, with intcr��t, u}�on nrnice fmm Lender to Hormwtr �U'f�
<br /> _ requesting payment.
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