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<br /> . 9Q-'1�0581
<br /> 4t1v1rott!a!CovExAxTS. Borrowtr and 1 ender covenant and agree as follows: _
<br /> l. P�yment oi Pdnciysl aad Interes�Prepay�meat and I�te C`lurgts. Banower shall promptly pay when due
<br /> ' the principal af ar�d interest on ths debt evidenced by the Note and any prepayment and late charges due under Ihe Note.
<br /> 2. Fands farTasea and Iesnnace. Subject to applicable Iaw or to a written wai«r by Lender,�orrawer shali pay,
<br /> to Lender on the day monthly paymrnu are du2 under the Note,until the�`ote is paid in full,a sum f"Funds")equal to
<br /> r one-twdith of(a) yearty taxes and assessments which may attain priority ove'r this Security IInm�ument; (b) yeari}
<br /> ! IeasehoJd paymenu or groun� rents on the Froperty, if any; (c)ytarly hazard insurance premiums; and (@) yearly
<br /> martgage insurance premivms,if any.7'hts�items art calted"escrow items.••i,ender may esrimatt the Fuads due oa the
<br /> basis of cunen4 data anst teasoeabte estimates of i'uture escroar items.
<br /> Ttze Funds shall be held in an institution the deposiu or accounts af which are insured or guaranteed by a federal os
<br /> state agency tencluding Len�tr if L.ender is such an institutiore). Lender shall apply the Funds to pay the escraw items. �
<br />_ Lendtr may not charge for hotding and applying the Funds,anatyzing the account or��erifying the escrow items,unless
<br /> Lender pays Borrower interest on the Funds and agplicable law permiu Lender to make suci�a charge. Borrower and
<br /> Lender atay agree in ariting that interest shall be paid on the Funds. Unless an agreement es made or applicable law
<br /> — cequires interest to be paid,Lender shall not be reqvired to pay Borrower any interest or earnings on the Funds.Lender
<br /> - shall gi��e to B�nnowu.without charge,an arinual accounting of 1he Fuads shoa�ing credits and del�iu to the Funds and the
<br /> purpose far which each debit to the Funds was made.The Funds are ptedged as additional security for the sums secured by
<br /> this Seeurity Instrument.
<br /> . If the amount of the Funds held by Lender,together K-ith the future monthly payments of Fuads payable prior to �
<br /> the due dates of the escrow items,shaU eacaed the atnount re�*.�*"_�tc pay th+e escrow items when due,the eacess shall be,
<br /> at Bomnwer's option,either tsromptly repaid to B���er o:��'!ed to Bs�rrawer on monthly payments of Fands.If the �
<br /> a.*nount of the Funds heid trEr-�,endeF i�:sat su�ci�t.�p�k t��c�..v-row items when due,Harrower shall pay to Lender any
<br /> amouat necessary to makc up the de��_�sc in aae�r r�ese�a}rawnts as required by i.ender. .
<br /> Upon payment in fult of all s�.u.s securcai'�z t'�is Secus sty Instrument,I.ender shall promptfy refuad to�rrower �
<br /> any Furtds htld by Lender.If under pa��grag*�I�ei�:Prapsny is sold or acquired by Lender,Lender s�all apply,no later
<br /> bhan immediately prinr to the sale of the Frc�c�^��•;�*:ts acquisition 6y I,ender.any Funds hetd by I�der at the time o4' �
<br /> ` � application as a credit against the sums�:ured isy z:,:s aecurity,Instrument. '
<br /> 3. Appliqiloa ot Payments. F'nless applicable la��?!�vides otherwise,all payments received hy Lea¢�under
<br /> paragrapl-s 1 and 2 shall be applied:firs�,to�ate charges daP�:a.cz:r the Note;second,to prepayment chas���c�::�:i��.'r the
<br /> Note;thirS,:�r,�mounts payable under paragraph 2;fourth,t�c��°'erest due;and last,to principal due.
<br /> � 4. 4$-,�.*ges;Liecs. Bonower shall pay all taxes,assessmenis,charges,fines and impositiors�.>,:����:��'e tfl the �
<br /> ' f?r�pert} �u�h may �,�.�.s:;t priority,over this Serurity Insttu�nent, and leasehoid payments or �y::.-:� ser•��� z�any. , �
<br /> Borrowet s�;�1 pay thes��.:;^:igarie��in.the manner provided en���ragraph 2,or if not paid in that marse�.��ui:.*shall �
<br /> gay them c:time directly to cre p�=�:�4;�wed payment.Horrc��r shall promptly fiurnish to Lender all notices of amounts
<br /> t�be paid under this gara�.��:.Li t3:,�ower makes these paa�s directly.Bonower shaA prompti�- furnish to L.ender �
<br /> ra�ipts evidencing the pa�it�r��.
<br /> Bonower shalt pr�rn�:sg�:I*.arge any lie�c�«�ich ha�Ariority ovcr this Security Instrument c:r��2ss Bonower:(a) �`'�; =
<br /> agrees in writing to the payment of tYtR�'�ligation secured by tt�t���in a manner acceptable to Lender;(1�)contes�s i�gaod �'�''�'�
<br /> faith the tien by,or defends against er�"�rcemrnt of the lien ir, t�{:1 proceedings which in the l.ender's opinion r.}-,erate to
<br /> prevent the enforcement of ihe tien ar forfeiture of any pan c:'�:�:�Propeny;or(c?secures Prom the holder of t�:li;:n an •;�,i-_
<br /> agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any pari of �.,.�.,;:
<br /> ihe Property �s subject to a lien whieh may attain priority over this Security ]nstrument, Lender may give Bonower a ,�:'r�;;`_�_
<br /> natice identifying the lien.Borrawer shall satisfy the lien or take ane or more of the actions set forth afsove within 10 days --
<br /> of the giving of notice. . -
<br /> S. Haz�rd Insurance. Bonu�N�ar shal!keep the impn�:��;nents aow eaisting or hereafter ere��ted on the Property ��
<br /> insured against loss by fire.hazards ir.c�uded witi�ir the ter:*.t"Ex:ended coverage"and any other hazan3�far which Lender 'i
<br /> requires insurance. This insurance shall be maeer.t�r;�3 i^ t�::a:nounts z-�: fur the periods that Lender requires. The "'
<br /> insurance carrier praviding the inswra,�.ce shall be :':osere Ey i�o�rower s;:��<:st to tender's approval which shall not be �-�
<br /> unreasonablg withheld. � �
<br /> Ail:n��.�4rance policies and renewpls�hall be accepta�_'�:�� Lender and shall include a standard mortgage clause. `
<br /> Lendet shalt t�a;�e thc r�ht to hold the policies and renewals. If Lender req�sizes,Borrawer shall promptly give to Lender ��:'
<br /> al1 receipts of�x:�Fr�r^:�a:;�s and renewal notices. ln the evrni of loss.Borro:ver shall give prompt notice to the insurance '
<br /> carrier aRd t�;:�er.Lerc��r may make nraa`nf ioss if nat made r�omptly by Iiorrawer. � . �
<br /> _ Unles•s 11,eader and Borrower c,'��:��ise agree in writir�;,rasurance proceeds shaU he applied to restoration�r repair � �
<br /> osthe Property damaged,if'the restcc;:°ion or repair is econ�c��i:;ally feasible and Lender'�s security is Rot lessened. If the �
<br /> ' restoration ar repair ic net economicaUy feasible or Lcnder's security would be lessened, �he insurance proceeds shall be ,
<br /> applied ta the sums secared by this Serurity lnstrument, whethec ar nat then due. with any exces��wid to Horrower.lf
<br /> Borrawer abanAons the Properiy,or dces not answet within 30 days a notice Prom Lend�r that tF:�insurance carrier has
<br /> offered to sea!�F�:a claim.then l.ender rnay collect the insurance�rc�ceeds.Lxnder may uar rl.;proeeeds to repair or restore
<br /> the Propertr�:r to pay sum9 serurecE t�y this Security instrw�ettt,whcther or not the»d��:.The 30-day periad���:1 begin
<br /> whan the natiee is given.
<br /> Unle�s lxrtdet ar,,�:porrower otherwise agrex in writi�g.any applicat"ran of proceeds ta princigal��s!sall not extend or
<br /> + pastpone the due date a�cL��manthiy payments re,`_�ced to:ra�+�ragraphs 1�nd 2 or cha-�ge the amc�::r s:,f the payr.�ents.tf
<br /> under paragrash 191he�?zQperty is ss.�uired by Lender.Bcrr�hcr's tight t�any insurae:cc:,c:i�ies��.�praceed4 r�s::fting
<br /> from d�ma�;�:�the Property pricr r.�tta��acquisition shall�:ss aa Lender ta the exter.t c�^���:surrc c�„�red t�y�r..�6�,:nrity
<br /> instrument i:�mediatel;�:^-^r e�t�,:��c,a,�isition.
<br /> 6. Prt�ee�atian sm�t1s�.tf�.�ance o!Propetty;�.CiLSCI10Id9. Amrrower shall r.�::d.:si rc�y,c�s�n;;ge or subvtantially
<br /> � change the Property, alluw ihe i-`.,;.�,erty ta deteriorate nr cornmit waste. lf this 5ec•.:r., !nstr,;.��.at is nn a leasehald.
<br /> �� Borrower s'�;;,:comply with Ihe psa�::sions of�hc lease.and i��arrower acyuires fee tit'�:��:��e i'raperly,the ieasehold and ; - _,._-__
<br /> fee tide shali z�ot merge unl�ss Lencier agrees to the merger in�b•��ting. •
<br /> � 7. Protection at i.cndtr's Rights in the Property; 'l�artgage Insurance. ':!" 3orrowcr fails to perf���n the
<br /> covrnar►ts end agreements onmainc�in this Secur�ty lnstrument,�r there is a legal proceedin�that may signifccantly affect
<br /> Lender's rights in the Praperiy(such as a pr�x;eeding in bankruptcy, probate,for condemnatinn or co enforce laws or
<br /> "" rt���;�ti�,fis).!hen!en�!cr may d�an��ay for tivhsse�rer is:ee��::sr�:tu prutect eh:v�l:se cY�:he Yra�rerty�e�l.:ruler'ti ribht�
<br /> in the Praperry. I.,ender's actiorts may include paying any sums secur�d by a lien w}:•..�: ha5 pric�nty aver thiti Serurity �
<br /> �� � lnstrwnent,appear�ng in cnurt,paying reasonable attorneys'fees and entcring�+n the F'r,�,^,erty to makc rennir� 4!!h:�s�� �
<br /> � i.enaer m�y taac acunn under this paragrapf¢7,Lender does nc�t h���e t��du so. �i
<br /> Any amnunt�di�h�rsed hy Lender under this r�ragraph 7 shall hce��me addit�onai debt��f Rorr,�wer tiecured hy thic f
<br /> � 5tr�nty Ir.strumcnt.Ltniess liorrower and I.ender:�gree ta��ther term�F�f payrneut,thc�.e�:monntti�hnl}hear mtere�t from �''-
<br /> thr datc e,P d�sburvement .�t ttre Ne�te ratr aml chtdl he pacabie. a�th mtcsect. uri�e� noTice frc�rn Letider tu H:�rre��eer r �,�y
<br /> teyurs�tn�p:,yment. i•�;,
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