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<br /> UtvtFOx.at Co��n�at�r['s_ Borrower and Lender covenant and agree as follows: 7O-= 10 0 9 61 � .
<br /> 1. Payment of Principal and Iateres�Prepayment and Late C6strges. Sorrow•er shali promptly pay when dne
<br /> the principal of and interest on the debt evidenced by the Note and any prepay ment and tate charges due under the Note.
<br /> 2. Fands for Tsexes and Iasuranee. Subiect to applicable law or to a written waiver b}Lender.Boctower shall pay
<br /> ta Lendu on the day monthly paymenu are due under the l�tote,untii the I�Tvte is paid in fuli,a sum f"Funds")equat to
<br /> r one-twelfth of: (a) yearly taxe� ana assessments which may attain priority over this Security Instrument: (u� y�ty
<br /> _ � Ieasehald payments or grounci rents on the Property, if any; (c) yearly hazard insurance prertaiums; and (d} yearly
<br /> mortg�ge insurance preminms.if any.These items aza callec!"eszrow iiem�."Lentler may estimate the Funds due on t8e
<br /> bass of current data and reasonabte estimates of futvre escrow items.
<br /> � Tfie Funds shall be hetd in an insritution the deposits or accounts of�c hieb are insuaed or guaranteed by a federal or
<br /> state agency(including Lender if Lender is sucb an institution). Lendex shall apply the Funds to pay the escrow items.
<br /> . Lender may not chazge for hotding and applying the Funds,analyzing the accovnt or verif}zng the escrow items,unless
<br /> Leader pays Bnnower interest on the Funds and applicable law permits I.ender to make such a charge. Borrower and �
<br /> � � Lender ma,y agree in writing that interest shall be paid on the Funds.Unle�an agreement is made or applicable!aw
<br /> requires interest to be paiQ, L�nder shall nat be roq,uired to pay Bonoaer a��interest or earnings oa the Funds.Lender
<br /> , s�all give to Borrower,wit3FOUt charge,an anntuf,�ti-�unting af the Funds showing credits and debits to the Funds and the
<br /> purpose forwhicb each debit to the Fuuds was�-.:�The Fuat�zre pledged as additianal security for the sums secured by
<br /> this Security Instn�ment. �
<br /> 1f the amount of t���unds held by Lendecr tx;:gether with the f�ture monthly paymeiits of F�Kfs payabis prior to
<br /> . • the due dates of the escra�it.�s,sball exceed the a.:iount required to;,ay•he escr• w items when dae.k2z:excess shall be, �
<br /> at Borrawer's oprion,eit'����tompt{y repaid to Barrower or credited to Borrower on monthly Nayme����of Fu�s:If the
<br /> , amount of the Funds held Isy Len�z w aot sufHcient to pay the escrow items when due.Harrower shall pay to Irsa,��any '
<br /> amount necessary io make�.�the de,,�a��zsy in one or more payments as required by Lender_
<br /> ' Upon payment i�r C�.l'�,�f all sums secured by this Security Instrumer,�.;Lender shall prompt�y-��xsd to SL�rrower
<br /> � any Funds hetd by L.end�_�°::r:der paragraph 19 the Property is sotd or Zcu,r�ired by Lender,I.ender.�..�-1 a;T.3�..30 later
<br /> than immediately prior t�o r�te sale of t'�e Property or its acquisition by Lender,any F'unds held by Lender at t����e of, '
<br /> � apptication as a eredit against the su�s�ured by this Seeuritc•�;zctrument. . . .
<br /> 3. ApplicatEon of Paymeats. �Tnless appticable la�=�.�iides atherwise,all payments recei�ed by Lezi�:-under
<br /> paragraphs 1 and 2 shall be applied:first,to late charges due i:-;:r the Not��econd,to prepayment c'�arges due under the ". �
<br /> Note;third,to amounts payable under paragraph 2;fourth,to im.erest due;a�:��ast,to principal due.
<br /> � ; 4. Charges;Liens. Borrower shall pay atl taxes,asses�^tents.ch�.ges,fines and impositions attribut��:r�:o the . �
<br /> Propeety wra.fi may attain priority,over this Security Instru:~�t, and leasehold payments or ground rer.ts."�any. �
<br /> Bono�cver shat3�ay these obligations in the manner provided in��,�agraph 2,ar if not paid in that manner,Borrc���w=-shall •� �
<br /> pay them on time directl3 Co the person owed payment.Bonower shali pr�r,��::y furnisb to Lender a11�c*.ices oc�-::ounts .
<br /> to be paid under this paragraph. If Bonower makes these payments direcs:?�;Borrower shall prom��,��;:LC.:.�dr_a Lender �
<br /> receipts evidencing the payments. � . �
<br /> Borrower shall promptly discharge any lien which has priority over this Securit}•�.:�strument unless Borra�;wr:(a) :
<br /> agrees in writing to the payment of'the obligation secured by the tien in a manner acceptable to Lender;(b)contests�:�good
<br /> faith the lien by,or defe�ds 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 af any part of the Property;or(c)secures from the holder of the lien an :; :
<br /> agreement 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 rr�ay attain priority aver this Security Instrument, Lender may give Bor*ca•er a -
<br /> notice identifying the lien.Borrowec shal)satisfy the lien or tak�c±ss or mare of the actions set fonh above within f:��iays ;'
<br /> of the giving of noiice. °
<br /> S. Haz�rd Iasurnnce. Bonower shall keep the improvements nc-�y�.xisting or hereafter erected on the Property �-��
<br /> insured against loss by fire,ha�ards included within the term"extended cc•.�e.r4.ge"and any oiher hazards for which L,ender ':�,
<br /> requires insurance. This insurance shall be maintained in the a.^_.ou:.IS ar_s for the p::-:pds that Lender requires. The ;'�
<br /> insurance earrier providing the insuranee shall be chasen by L;��wer subject to Le:���+Y's approval which shall nat be
<br /> , urzeasonablywithheld. '�,�,.,,�..
<br /> AU insuran�e poticies and renewals shal) be acceptable ta Lender��u�shall include a stanc�a;d mortga�;e clause. �-.!is.:,.
<br /> ' L.�der shall have the right to hold the policies and rencwals.If�.ender requires,Borrower shall pramptly give to Lender 'r:�'�'�.
<br /> a11 receipts of naid premiums and renewal notices.ln the event�:!:u�ss,Horrower shall gi��:prompt notiee to the ir�:crance ��
<br /> carrier and�,r.;��tr.Lender may make proof of lass if not made�.-�:�'^ptly by Borrower.
<br /> Unless,"..ender and Borrower otherwise agree in writing.ir,:;�rance proceeds shall be applied to restoration or repair ,�
<br /> oP ihe Property damaged,if the restoration or repair is ecanor^:cally feasihle:��d Lender's security is not Icssened. lf thc
<br /> — � restoration or repair is not�:.onomically feasible or L.ender's s��.arity would'.x lessened,the insuT�nr,e proceeds shall be
<br /> applied to th:sums secured by this Security lnstrumcnt, wh:tl�ur or not then due, with a:.y�exr,ess�aid to Borruwer. IP
<br /> Bvrrower abaadans the Property.or daes not answer within 3a�i;zys a n��tice fmm I.ender t:°�t the i�surance carrier has
<br /> offere�J tosettie a ciaim,then Lender may collect the insurunce pc�ceeds.Lendcr may utie tE:2�ra:eed5 to repair or restore
<br /> the Qroperty or to pay sum:;secured by this Sece�riiy iastrument,whether or not then due. The 30-day�eriad will begin
<br /> wl��ihe notice is given.
<br /> — Unless Lender and Borrower�therwise agree in writin�,any application of prc�cer•d5 to principal shall not extend ov
<br /> � pasiponc th:duc date of the monthly payments referred ta in{saragraph�:I and 2 or changc thc amount of thc payment!;. !P
<br /> under paragrap:h 19 the Yraperty is acyuired by Lertder.Barrower's right to any insurance policies and proceeds resulting
<br /> fram damage to the Property prior to the acquisition shall pass to Lender ta the extent ot the sums secured hy this Security
<br /> lnstrument immediately prior to the acquisition.
<br /> � 6. Preservation and tilpfntenAnce ot Property;Leasehoids. Borrower shal!noi destrc�y,damage or substantially
<br /> change the i'roperty.allow the Property to cicteriorate or commit waste. lf this 5ccurity ]nstrument is�m a le���ehuld,
<br /> &�rrower shall cc�mply with the provisinns of the lease,and iPBorrower acyuires fee titie tn the Properry.�he leasehnfd and ' -- ----
<br /> fce title shall nn!merge unless Lender agrees ta the merget in writing. '
<br /> 7. Protection at I,ender•s Riphts in the Property; :t'lortgage Insurartce. If Hvrrcnver faits tu p;;rForm the
<br /> covenauls and agreements cantained in this Security lnstrumenL or there�s a legal p�raceeding that m�y sigtnficantly affect
<br /> � Letzder's rights in the�'roperty(such as�pr�x:eeding in bankruptcy, nrobate. fi�r c�rtdemnation or tn enforce lawc ur �
<br /> — reguiatiuns),fhen Lrncier may do�nd p�y fnr whatever is necestiary tu protect thr v�lueoPlhe i'rnperty and I.ender'�ri�htti
<br /> in Ihr Yr�perty. Lenc}er's actic+u�may inrlude payin�any sums secured hy a lirn whirh has pn�r�ty ��er th�s Security �
<br /> L Intitrument,appearinu in r��urt,payin�reasunable uttorneys'fecs�n�enterinN�,n the pr��perty t��makc rcpair� Afthnugh �
<br /> lender muy�ake action under th�s paragraph'1,l,endcr�1oc5 n��t h.��•e to do st�.
<br /> � Any am��unt4 di4b�trsc�by Len�ler u�ider thiti pata�rarh 7 thall heci�me add�tinnal deM��f Nnrn�wer�,ecored hy Uiiti �•
<br /> Security InLtrumesit. llnleti�Hurr<�w•rr<ind l.rn�ler��;ree t�.ather terni<<.f p�ynicnt,these ammnri�tih:dl he:it intere�t fn�m �ta�
<br /> Ute date c�f e1i�E�t�rSCrnent at the 1i;�tr setr ;md �h��ll be �•;►}•uhte. �tith rotcre�l, u�+�+n ru�ti�c t�tntn I.rndet tr Ht�rr��t�er �
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