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<br /> UnIIFORM CovErta[�TS. $orrotiver and Lendcc covenant and agree as follnws: �•��'1 Q�$�i � �
<br /> � . 1. PryaKat ot P�inrip�!�ad I�ter=si:Peep�ymeet and Late Char�es, 8omori��r shall pramptly pay when due
<br /> the principal ofand interest an the debt�videnced by the Note and any prepayment and�tu charges due under the Note.
<br /> Z. Furtds for Tuq aAd Iasurastce. Subjcct to applicable taa or to a W�ritten K�ui��sr by Lender,Borrower shall pay
<br /> � t�Lender on the day monthly pa�mcnts are due under ti�e Nate, until the i�izit�is paiti�in full.a sum("Funds")equal to � .
<br /> one-tweliih of: (a) yearly taxes and ossessments which may attaan priority�•o��,.„r�this 5ecurity Instrument; (b) yearly
<br /> trasehotd paymtnts or ground rents on the f'ropcny, if any;'(c) yearly harvr$ u►s•.uance premiums; and (d) yearly �
<br /> mortgage insurance ptemiumg.if aay.Th�se icec�s ar�rd�lecl"escPOw it�m3"Lend��may esiimate ihe Fends dae oa the
<br /> bues ef current data an�reasonable estimates dE fueurc csc:ruw items. •
<br /> T'he Funds shald be heFd i�t an institation Ihe deposits or accounts of whic�:ar�3nsured or guaranteed 6y a federat ar '
<br /> � : siate agency(including L.ender if t,er.dtr is such an institution?. I.ender shall apply thr�unds ta pay�the escrow items.
<br /> , � Le�der may not charge for holding and applying the�unds.anatyzing the accuunt oi;•eis'�'�:ng the escrow items;u;-�Iess �
<br /> Lender pays Borrowtr interest on the Funds and apphcabte law permits l.ender to ma�k�ssc.ti 3 t�ag,e.. Barrowe�and
<br /> :� ; L.euder may agree in waitcng t6at interrst shall be paid on thc Funds. lJnless an agreem�rt,%s�ay���a�'_=,,;�.�'e Iaw
<br /> requires interest to be paid. Lender shal!not be required to pay Bc�rrawer any interest or carr:�.�.�s•.z^���:a�:.;:s. �3er '
<br /> shall give to Borrower,withuut charge.an annu�J accounting oFthe Funds showing credits and debits ta r����F;:.�.�azd the �
<br /> ' purpose for which rach debit to the Funds was made.The Funds are pledged as additional security for the sc��is secured by - .
<br /> this SecuriEy insCrumen4. � ' . � ••
<br /> If the amount of the Funds held by Lender,together with the future monthly payrnents of Funds�ayable prior to
<br /> the due dates of the escrow items.shall exceed tl�e amount required ta pay the e.scraw items when d�e,cae excws shall be, � �
<br /> at Barrower's option.either promptly repaid to Borcower or crcdited ta Bc�nower on monthfy ps.yx.z�;,s�fF�.:.�s.If the
<br /> , amount of'the Funds held by Lender is not sufficient to gay the escrow items when dae.Borrower s.�� �3y*o�der any
<br /> , amount necessary to make up the de6ciency in one ar more payments as required by Lender.
<br /> Upon payment in full of all sums soeured by this Secucity Instrument.Lender shall prompr2�rc�aed ta Borrower ' � "
<br /> � any Funds held by Lender.lf under paragraph 19 thc Property is sold ur acquired by Lender,Len��r�r�.1 applg,no latgr ' �
<br /> ; t han immediately prior to the sate of the Propeny ar its acquisition by Lendcr,any Funds held bg-.L�.-�:F at the time of � .
<br /> appiication as a credii against the sums secured by this 5eeurity lnstrumem. -
<br /> 3. Applicat€on ot Payments. Unless applicable law provides otherwise.all payments recei�e��y Lender under
<br /> ; paragraphs 1 aad 2 shall be applied:first,to late charges due under the Note;second,ta prepayment ch��due under the
<br /> , Note;third,ta amoants payable under paragraph 2;fourth.to interest due;and last,to principal due.
<br /> , 4. C6arges;Liens. Borrower shall pay all taaes,assessmentc,cha.rges, fines and impositians�.�r:butable to the �
<br /> Ptoperty which may attain prionty over this Security Instrument. and leasehald payment§ or ground rents. if any. }
<br /> , 8arrower shall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall � �;:'',r.
<br /> pay them on time directly to the person owed payment. Borrower sh�ll promptly furnish to Leader all notices of amounts •
<br /> to be paid under this paragraph.IP Borrower makes these payments directly, Barrower shaU promptly furnish to Lender ,':;;-���',�;�
<br /> rcceipts evidencing the payments. . r,,: ;,.,
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<br /> Borrower shall promptly discharge any lien whicb has priority over thiti Srcuri�y In~trument unless Bmr.;.�::er:(a) � •
<br /> agrees in writing to the payment of the obligation secured by the lien in a mann�r acceptuhle tc�i.ender,(b)contes:s=n good � _
<br /> faith ihe lien by,or defends against enforcement af'the licn in.legal proceedingti whitih in thc l,ender's opinia���erate to ' --
<br /> prevent the enforcement of the lien or forfeiture of any part of'the Prflperty;ar(c)Secures Prom the holder or r[r�e lien an �
<br /> agrcement satisfactoty tn Lendtr subordinating the lien to this Security Instrument. If'Lender determine;thui any�art of `.
<br /> the Property is subjeet to a lien which may attain priority c�ver this Security Inslrument. lxnder may give Borrower a -
<br /> notice identifying the lien.Barrawer shall satisfy the lien ar take o�ie or more of'tflc actiuns set f�nh above within 10 days -
<br /> of the giving of notice. �,!—
<br /> S. Hazard Insurance. Borrower shaU krep the improvements naw existiag on c�rcaf'ter erected an tfi�Pcaperty �;
<br /> insured against loss by fite,hazards included within the term"extended caverage"and any other haiards for wtsa�;Ti�,,�der '��
<br /> � requires insurance. This insurance shall be maintained in the amounts and fc�r thc �xri�xls th�t 1Lender requires, ihe :
<br /> . insurance casrier providing the insurance shall be chosen by Borrow•er subject to I.cndrr'�;spprovul which shall na:��w �`�
<br /> `'1 .'
<br /> unrcasonably withheld. ;;,,z .;
<br /> All insurance policies and renewals shall be acceptable to lxnder and tihall inclucic a staa�dard mortgage clause. ;i;� ��•
<br /> , Lender shall have the right to hold the palicies and renewals. IP l.ender requires, flurruwer yhal! promptly gi�e to Lender °� �
<br /> ap receipts of paid premit►ms and renewa!noiiees.ln the event of lo,s.Borrower rhall give prnmpt ncit�ce t�tl�e insurance '.,,;�.,
<br /> carrier and Lender.Lender may make proof'of loss if not made prompUy by Nc+rrowcr. ;-=�;
<br /> Unless Le�der and Horrawer otherwise agree in writing,intiurpnce pnrceeclti rhs�ll he��pplicd t��rcstorotion or repr,ir � �'_:';
<br /> � of the Prope��ty damaged,if the restoration or repair is economically feas�ble and Lcncfer'�tiecuruy iti aut lesrcned. ]f'the
<br /> restoration or repair is not ecanomically feasiblc or l.ender's security wc�uld bc Irssc�md,�I�c�ntiurance;prr�cecds shaU be
<br /> ; applied to the sums secured by this Security lnstrument,whether or n�,t �hcn due,w�lh any exce« paicf t�+Hormwer.If •=-
<br /> Barrower abandons the Property,or dtxx not answer within 30 days�nc�tice frarn l.ender that the�n�urunce c�►rrier h�s
<br /> o1f'ered to settle a claim.then I.ender may collect the insurance prexeeds.L.ender may use the pr����«:�Iti t��«pair or restore
<br /> tbe Property or to pay sums secured by this Security lnstrusnent.whether c,r nnt �hen dur. '1'hc .�(I�d;ry�xt��xi will begin
<br /> when the notice is given.
<br /> Unless I.ender and$orrower otherwise agree in writing,any applir7t�on of ptuccvd�,l��pruic�pal tihall not cxtend or
<br /> � postpone the due date of the monthly payments referrcd to in�aragraphs I and 2 c�r chau�;c the c�modnt��f'the payments.If
<br /> ' under paragr�ph fy the Praperty is acyuired by Ikttdcr.Hcirrnwer s rig6t�i+any m�i�ra��cc pnhrtc�and prnrcc�d+rctiulting �
<br /> from damage to Ihe Yroperty priar to the acyuisition shall pass to l.eiidrr to the extent i�f�he�urnv�c�•we�t Hy thn ticcuruy
<br /> lnstrumcnt immediately prior to the acquisition.
<br /> 6. Preservation 9nd Mainten9rtce of Property;I,easeholds. Rurruwcr sh��l)not dear���,daiu;►�;r ur �ulnuudi�lly
<br /> change the Prnpeny.altaw the Property to�leteriorate ar commit w�istc. lf thi� Sccurity Intilrum�•nt iti uu ;� Ira.elu,ld,
<br /> - Bo.rrower shap comply with the pravisions of'the leasc,a�id ii'B�rrower acyuires fce title u►thr Pr�+per�}.thc ic;�ticl�c�ld aud ' %--=—"=
<br /> fet tilly shall not merge unless Lender agrees to the nterger in writing.
<br /> - 7. Pratection ot Lender's R1Rhts in the Property; :�tortRaqe Insurance. If' Nurruarr t:ulr tn pc�fn�n� rhe i
<br /> covenants and agreementscontainesi in this 5ecurity lns�rument,c�r thcre�ru legal prncccdin�;�hat m.►r ti�F;u�tic,,�u1� ,,fi�rri '
<br /> Lenders rights in the f'roperry (saeh as a proceeding in bankruptcy, probate, fc�r rua�lcmn,�tu�n��r t�►�nh�r.-r I:�as nr '
<br /> _- reo+:lat'sons�,eh=s:Lesul:r maj c3u an$€say far tihatczei is nEec;��ry iv piufcrt tne v,ilue c,f thc i=r��crr�-:�nci i rnit�°r'�ril�it�� .�
<br /> itt the Yruperty. I.ertder's acti�•ms may inelude paying any surns secured b}�� I�eu��t�ich ha� �,n�m�y E��cr t1�G+`e�urity
<br /> Instrument,�ppearing in cuurt,paying reasonablevttorneys'fees�nd enteruig an thc Pn+�+crty r����i,�l.c rr�+;n�� Althnu►;I� � ���
<br /> Lendcr may taxe�ct�un uuder thic paragraph�.Lender daes nn1 have t��dn s��.
<br /> ` Any am��untc d�sbur�ed by l.ender under Ihis p�ragraph 7 shall t►ec�,rr�c;,dditu�n,il dcl+���i k��rr u�.r� �c•��n cd h� i lu. �
<br /> Stcunty lnsttununi.Uulrs�Efurruwer an�f Lenderagrce to Mher tcrat+uf p,�ymcnt,the.c a���nurn..h,�ll l�r,u u��,•rc�t Ir�nu A'
<br /> the date of d�sbur�cment at the Nate rt�te anci shall be payahle. wilh mterect, up,�n u�qi.c t'r��in 1 c�i,t�r t�� 1►�������«�� �E�',�
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