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<br /> UNIFflRM COVENANfS. BoROwer and Lender covenant anQ agres ss,fo�ows: `�O� �O��0�
<br /> . , i. paymont of Principa� �nd int�ast; Pr�psyment and Lats Chup�s. Bortawer aha9 prompty pay when due the
<br /> pnc�Jpat o��nd htarest on the debt�+rideneed by the Not�ana any DreWYment ena late charyes due unde�the No:a
<br /> 2. Funds tor Taxss and Msur�nc�. SuDket to�ppQrabte I�w or to a wrftten waiver by len�er.Borrawcr ah�A pay to Lender
<br /> � on tha daY rtw�►thi�l Poi�ts are due undei the Note.unLl ihe Note is pald h ful.�aurn ("FurTQs'7 equsl to ono-twEttth of: (a) Yeady
<br /> fax�s�rM�ssessments r+fiich mty aRtah prEO�dy over 3hts Seasr�y(nsbvme�s� (b) yeary leasahotd paym¢nts or qrourtd rents on ihe
<br /> � properry.it�nd: fc)Ya►N hazard hsurance prar�ums:and(da Y�N�9��haurance prert�iums.ff arry.The�tems are cal� '•escrow
<br /> �a�ss.° tasQer mry ss�is Ne f�ss�et.�Qn t!!��S ot a�eii d�u and rotson3Me astirtNies ot fuWre eaac�w it�ns. ' ,
<br /> Ths Funds ahd 6s heid in an hstitutton the degos�s ar axounts ot wAkh an in,wred or qu�rantssd by�• tederat or aht� aperzcy
<br /> (ndudny laiddr it GnQer is auch an hstiDution�• �.ender ahal ap�ly tl�e Funds Uo p�y the escrnw kems. Lender rt�y nat charQt tor haid-
<br /> inQ�nd appfyin9 the Eunds, anay:h9 tha aecount or veifyhp the escrow fiams, �[ess Lender pays Sorrower inter�st on the Fund3 end
<br /> - ap�Ir�ble few partn�s Lender to aMke such s charg�e.*Bonower and i.ender�a�C a�es in writin9 thtt intarast shaf be p�id on the Funds. .
<br /> ��_ Uf1�lSS N��'EEfIfEQft�!R1f�G dT i�Ci�E{iMl�Et�1�2S llltEfESE LO�iQ Qi�� Llf1�3�ROL bQ f@QU�f��Q pi)t BO�fOWK 8tly�f1t0�C32 Of
<br /> ernin�s on the Funds. Lender staY qive to Borrower.wi�hout ctur�an�nnuaf+ccour�ttrs9 ot the FunQs showing exe�ts snd debita to
<br /> th� Funds�nd the putpose tor wdictt aAch debit ta the Funds was made. The Funds are pledgea as edd'rtiona!securdy tor the sums
<br /> secured by thiS Slat�fty tnsLument .
<br /> B the art�aunt ot the Fersds heW by lenda, together with the tufure mantt�y payments of Funds pr�abte prior w the Que dates ot the
<br /> escrow Kems. shal exceed the amau►iR required to pay tRe escrow items wfsen due. the excess shat�e. ei Bo►rowers option, eit,'�er
<br /> promptly t�id to Barower or cr+edifact,.to Sortawer ert monthty payments ot Fuads. Ii 4he amoant of���►c�Rdd tr1 Lender is nat
<br /> sullicient ic�,�the esaow items wl:oi iiue, Barrower shaH pay to Lender any amount necessary ta tnalse ug fl:�deficiency in one or
<br /> more pty�nestts as rc�.dr�by�eetd�t:
<br /> Upon paysnent 1n tuil.csf'aB surr�s sr,�cie�d 6y�thi� �ecurity insLument, Lender shap prompty rettm�to �arrower any Funds hetd by �
<br /> � f:c-trdr3. ff urt�er paragra�ta i9 tfie I�Yoperty ts sotd ar acquired b]►Lender. Leader shaH aPph.no tater thsn imme6ately prior to the sate
<br /> at tlre i�raqc�fs�or its acqutsitian by L�er, eny Funds heid by Lender at the time af ap�Rcaiton as a cred'rt against the sums sewred by
<br />— . ... ' • �:s Secuti'�.f-�sstrument . . .
<br /> . 3. Ap�iiC�tiOt1 O�Y��16nt9. Unless appGsable Iaw provides oiherwise. all paynents received by Lender under paragraphs 1
<br /> 3�d 2 sfiaN be appfied:l'u�,fo(ate charges due under the Note: se�ond, to prepaymertt charges dae undef the NQie;thkd,to amaunts
<br /> � �.ayabte urt�ex pua�h 2;faurtA,to interest da�end tasl,to pdnapai due. ,
<br /> 4. C�tf#�j9S; �f988. Borrawer shaN pay aH taxes, assessments. charges, fines and tmpositions etfibu�able ta the RropeRy which
<br /> ., r.ay att�ict tii�fdy a+rPr th�s Securiey fnstrumenL and leasehaid payinents u ground rent�. �any. BoROwer shap paY thess obGgations tn ,
<br /> • tire man�ter�icm!fded tT�agrapb 2. or H not paid In that manner.8arrower sh�II ps�thert an Ume cfirecdy to the persan owed payment. , •
<br /> 8ortower ehWi niomptly fumish to the Lender elt na�:ar�s of amounts to be paid under thts p3rz�aph. f!Har�nrer malces these payments •
<br /> � direc!!y,Bamrrrer shaw prampty tumish td I.�nder receipts eridenci�g the payments. � �
<br /> � � 8arroW�shaN prompUy discharge�y tten which has pdoriry over thfs Security tnstrum�►t usitess Borrower. (a)agrees tn writing to the
<br /> � payrtwnt af the obGgation secured by ifte Gen in a manner acceptable to Lender; (b)wntests tn good taith the lien by,or defends against ..
<br /> � entorcement o1 the Geo(n, kgal proceedu+gs which in the Lender's opinion operate to prevent the enforcement o1 the Aen or forfeiture of
<br /> eny paA of the Property;or(e)secures nom the hotder of the Gen an agreement saUsfactory to Lender aubordinaUng the Aen to this Security
<br /> , Instrumen�H Lender deteunines that any part ot the Property is subJecR to s Ikn whieh may attain priority over this Securicy� tnswment, �
<br /> , , Lcndet�ndy yive Borrower a nottce fdentityirty the Aen. Bortower shap saUsy the tien or take one or more of the actlans set toRh above -
<br />_ within 10 daya of th�s 9lving of noUcs. •
<br /> 5. Hazard Insurutcv. Borrower shaN keep the irnproveme�ts now e�sting or hereafter erected on the Proper4y ins�red again�t }_
<br /> Toss by 1ke, hazards induded within the term "exter.ded coverage" and eny ntl��r hazards tar which lend�raqutres fnsurartce. Thrs ''
<br /> lnsurance ahaN be mainteined in the��mts and tor the pe�iod�that Lendet rr�:,:res.Ttte ir,�urence prrier proVld�r,g Ihe insurance shalt
<br /> be chosen by Borrower aubject to LF.r�;�r's epproval which shai7 rtot he urr�ta,cr.�"�vnthhctd. �
<br /> NI k►surance pdicies end renewals shati be accepiabte to the Ler.•d�2nQ af.31!include a standard mortgage clause. tender shaA have �
<br /> the rlght to hotd the policfes and renewals. II Lender requires, Borrower aha'.1��mptly give to Lender ell receipts of paid prer.�iuma end•
<br /> � renewa!notkes. In the c�ent of loss, Bortower sh�ll qive prom�t�r.otice to the insurence cartier and Lender. Lender mzy maKe proot of �` :
<br /> losa M not m�de promptt,r by BoROwer. ,
<br /> Unkst I.ender�nd 8or�ower othecwl�e agree in rrr;ting,insurance proceeds shall be applied to restoraticn or repair c1 the Properry
<br /> dartqt , it the restor�Gon or rep�ir Is economtca+l teasible and Lender's security ls no!Isssened. If the re:toration or repair is not econ- '�,
<br /> s� v
<br /> - ortYcaty fe�sibte or Lertder's security woutd be lessened, the fnsuranCe proceeds shail be eppAed to the surns secured by thts Securiry �
<br /> Instrur»ent, whether w not then aut,w:th any excese paid to Bartower. If Borrower e6andons the Property, or does noi answe►within 30 '
<br /> da}IS a notice from Lender that the insurdnca prtier has o8ered to seltle a ciakn,then Lender may collect the insurence proceeds. lender
<br /> may uss the proceeda to repair or rtstore ihe PropeRyr ar to pay sums aecured by this Securiry Instrument,whether or not then due. The
<br /> _ 30-d�y period vriN bepin when the notice is given.
<br /> Urtiess lertda and Borrower otherwlse agee in writing,any application of proceeds to pdncipai shal)not e�Rend or postportA the due
<br /> date of the monthy payrtknts rMerred to tn paragreph 1 end 2 or chanqe Ihe emount ot the payments. II under paragraph 19 the Property
<br />� is tcquire0 by Lender. Borrower's right to eny insurence policies end preceeds resulUng trom dart►age to the Properry pdor to the acquis-
<br />— ition sh3N pass to L!r.d!r to the dRent o1 the sums by this Security Instntment imrttedlately prlor to the acyuisition,
<br /> 6. Pr�s�rvstion�nd Malntananco at Prop�rty; L�as�holds.Bortower shaN not desUoy,damage or aubstantialy chartge
<br /> the Property, allow the Property to deteri�rate or commit waste. If thts Security Instrument is on e leasehotd, Borrowes shatt eomply with
<br /> the provisions ol the te�se.and if 8ortower ecquires lee tit(e to tha Froperly.ihe leasehotd and iee titto shall no3 merge unless the lender
<br /> � .� �9rces to thc merger in writing. . ----_ --
<br /> 7. Rrot�ttlon of L�nd�*'s RIgMs tn th� Proporty: Mortgag� Insurance. N Bonower fails to peAorm the covenants
<br /> . and aqreements eontak�ed fn this Security tnsUument, or there is e tegel proceeding that may significantiy affect the Lender's righi in ihQ
<br /> Property (such w a ptxeeding h baniwptcy,probate,tor cai.�emnation or tu entorce�aws or regutations).ihm Lender may do and pay
<br /> _�_ _- tor whitaver Is necessary to proteet the vatue of the Property end Lender's rights in the Property. Lender's acttons may inciude payinc�eny . ;
<br /> � aum3 securet!6y a fien whkh has priority over ihls Security fnstrument, appeariqg 1n couA, paying reasonab(e eftorncnrs'fees and enterinl
<br /> + � on the Ptoperty ta m�ke repoirs. Although lender may take action under parac,�rnph 7,tender does not have to do so.
<br /> My amounts disbursed by Lender under paragraph 7 shall became additional debt ot Borrower secured by this 5ecurity Instrumen►.
<br /> Untess 8txrowcr end Lender agree to other terms oi payme(►t, ihese ambunts shail bear interost iram dato of disbursement at tho Notc
<br /> rala and sAaq be payable. upon notice iram le��der to Bartawer reqeesting paymeM. �''�
<br /> ' A ch�rg�r ass�ss�d by L�neer tn connection with Borrowsr's entering into this Seaurity Instrument �'
<br /> to pay th� cost of an tnd�p�ndant tax r�poeting svrvice shall not be a charge� for purpose of the pre ��
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