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<br /> UNIFORM COYENA�ITS Borra�ver and Lender covenant and agree as iblla«�s:
<br /> 1. P�yment of P�incipai snd Interest;Preppyment and I.ate Charges. Barru��•er shul) pramptly pay �vhcn dur
<br /> the principal of'and interesc on the debt evidenced by the Note and any prepayment and late churges due under the Note.
<br /> 2. Funds fvr T�ces and lnsurAnee. Subject to applicable la�r ar to a written a�ai��er hy l.ender,Horrawer shall pay
<br /> � ta Lender an the day manthly payments are due under the Note, until the Nate is pnid in Pull,a sum("Funds")equal t�
<br /> one-twelfth of: (a) yearly taxes and assessments which may attuin priority over this Secu�ity Instrument; (b) yearly
<br /> � leasehold payments ar ground rents on th� Property. if any; (c) yearly hazard insurance premiums; and (d) yearly�
<br /> � mongage insurunce premiums,iiany.The�e iiCU�s arc cailehi"cyc��ow itLms."L;.nder may estimatc th:Funds du�os the
<br /> twsis of currtnt data and reasanable estimates af future escraw items.
<br /> The Funds shall be held in an institution the deposits or accounts of which are insured ar guaranteed by a federai ar
<br /> state agency(including Lender if'Lender is such an institution). Lender shall apply the Funds to pay ihe escraK items.
<br /> � Lend�r may not eharge for holding and applying the Funds.analyzing the account or verifyring the escraw items. unless
<br /> Lender pays Hurrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower und
<br /> � Lender mAy agree in writing that interest shall be paid on the Funds. Unless an agreement is ma�ie or applicable law
<br /> � requires interest to be paid, Lender shall not be required to pay Borrower any interest or earninss on the Funds. Lender
<br /> shali give to Horrower.without charge,an annual accounting of the Funds sho�ving credits and 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 lnstrument.
<br /> If the amount of the Funds held by Lender,together with ihe future monthly payments of Funds payable prior to
<br /> the due dates of the esc�ow items,shall exceed the amount required to pay ihe escrow items when due.the excess shall be.
<br /> at Borrower's option,either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. 1f the
<br /> amount of the Funds held by Lender is not sufRcient to pay the escrow items when due,Borrower shall pay to Lender any
<br /> amount nceessary to make up the deficiency in one or more payments as reyuired by Lender.
<br /> Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refhnd to Borrower
<br /> any Funds held by Leader.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 /> applieation as a credit against the sums secured by this Security Instrument.
<br /> 3. Applieation af Payments. Unless applicable law p*ovides 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. Ch�trges;L.iens. Bonower shall pay all taxes,assessmentc,charg�s,fines and impositions attributable to the
<br /> Property which may attain priority,over this Security Instrument, and leasehold payments or ground rents, if any.
<br /> Bonower shall pay these obligations in the mann�r 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 of amounts
<br /> to be paid nnder this paregraph. lf 8orrower makes these payments directly, Borrower shall promptly furnish to I.ender
<br /> �, rcceipts evidencing the payments. � _r
<br /> � - Harrower snalt prampuy discharge any iien wfiicn has priority over this Securiry insirurment uniess 8orrower.�ai � . _
<br /> agroes in writing to the payment of the obligation sccured by the lien in a manner acceptable to Lender;(b)contests in good
<br /> f a i t h t h e l i e n b y.o r d e f e n d s a g a i n s t e n f o r c e m e n t o f t h e t i e n i n,l e g a l pr o c eedin gs which in the Lender's o pinion o p erate 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 /> � agrament satisfactory to Y.ender subordinating the lien to this Security Instrument.lf Lender determines that any part of
<br /> the Property is subject to a lien which may attain priority over this Security lnstrument, Lender may give Honower 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. i
<br /> S. �Iazard Insuranee. Borrower sha11 keep the improvements no�v eaisting or hereafter erected on the Property
<br /> insured against loss by fire,hazards ir..luded 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 periads that Lender requires. The �
<br /> insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be f�
<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,Horrower s.hall promptly give to Lender
<br /> all receipts of paid premiums and renewal notices.In the event of loss,Borrower shaU give prompt notice to the insurance '_�
<br /> carrier and I.ender.Lender may make proof of loss if not made promptly by Borrower. � :�.�
<br /> ' Unless Lender and Bonower 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 economically 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 /> Bonower 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.Lender may use the proceeds to repair or restore
<br /> the Pmperty or to pay sums secured by this Security instrument, whether or aot then due.The 30-day period will begin
<br /> when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writinR,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 amoant of the payments.If
<br /> under paragrapb 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 tu the extent of the snms secured by this Security
<br /> Instrument immediately prior to the acquisition.
<br /> 6. Preservation and Maintenance ot 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 /> Borrower shall comply with the provisions af the 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 /> 'f. Protection of Lender's Rights in the Property; Mortgage Insurance. If Horrower fails to perform the
<br /> covenants and agreements contained in this Security Instrument,or there is a legal proc:eding that may significantly affect '
<br /> Lxnder's riehts in the Pronerty (sueh as a proceeding in bankruntcv. probate. for condemnation or to enforce laws or
<br /> ��j 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. Lender's actions may include paying any sums secured by a lien which has priority over this Security �
<br /> L lnsttumQnt,appearing in caurt,paying reasonable attorneys'fees 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 c�f Horr�wer�ecured by this r.,
<br /> Security lnstrument.Unless$orrower and Lender agree to other terms of payment.thesc am�unts shall bear intcrest from u�Q
<br /> the date of disbursement at the Note rate and shall he payable, with intrrest, upon notice fr�m Lcnder to B�rmwcr
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<br /> requecting payment.
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