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<br /> Ut�1t1K CovExAt�. <Boirowec aad Lsnder covenar►t and agree as follows: �70 1 V 1�1 V�
<br /> � i. P�tyweat af PriRd�a!a�IaLera�Pe'e�y�at and Iite t�arges. Borrower shall promptiy pay when d�e
<br /> the prinapal of and iaterest on t�e debt evidmCe�by thc Not�and any prepayment and late charges due under the Ivote.
<br /> . 2, Fnads far Tues and I�cr. Subjact to appticable law or to a written�aiver by`Leader.Barrov►er shall pay
<br /> � ta Lsttdet on the day manthty paym@�ts.ate due under the Iv'ot�until th�tiote is paid in ful�,a sum("Fcutds")equal to
<br /> ono-twtlfth pf: (a) yearly taxts and.a.�.s�s5me�u,which may attain priority over this Security Instrument; f b)yearty
<br /> leasthold paymenis or graund rents on the Pro�erty. if any; (c) }early haTard insurance premiums, and (d) yearly
<br /> �mortgage insurance prmiiumv,.+�anY•'ftiese itemS are salled"escrow items."Lender may estimate the Funds due on the
<br /> basis afcnrrent data aad reason�bieestiresaus of future escrow items.
<br /> � The Funds shall be hdd in an institutior�the deposits.ar accounts of which are insur�i or guaranteed by a federal or
<br /> state ageacy(inclwding Le�der if Lender is such an institatiot�)-Lender shalt apptg the Funds to pay the escrow items.
<br /> L�der may ttot charge fos hold'sng and applyin�the,Funds,snatyar►g the account or verif}ting the escrow items,unless
<br /> Leader pays Basrawcr intaest ost�tte.Fuads and applicable law permits Lendec to maice sucb a charge. Borrower and
<br /> Lender may agree in writing that interest shai�be.paid on the Funds Unless an agreement is made ar applicabfe law - ��
<br /> requires int�st�o be paid,Ix.nde�r shai�not 6e required to pay Borrower anp interest or earnings on the Funds.Lender
<br /> shall give t��orrQwer,without cl�arge,an�nnual accounting of the Funds showing crediu and debits to the Funds and the
<br /> � , purpose for wdich each debit to the.Funds was�de.The Funds are pledged as additional security for the sums secured by
<br /> this Sec+irity,InsttvmenL , �
<br /> � If the amouns of the�unds he�d by Lender togethet with the fuiure manthly payments of Funds payable prior to �
<br /> tbe due.da�c of the escrov�r.items.shalj cxceed the amount,Feqccired to pay the escrow items when due,the excess shall b� � �
<br /> , . -__..:._�-.- _ at_�i,c►srssi�eF'�op?ion,�ither pramp�ty repa�d to Borruwer or cr�ited to Borro�.ver on monthly paycnents of Funds.if the '
<br /> amourjt pf the Fwid,4�eld by�.eader is not suf�ient to pay tfr�es�raw items whesi due,Borrower shall pay ta Lender any � . .
<br /> � amount pecrssary•,comake up.�he deficiency'i�.pn�,Pr�nvrepay-rtients as required by i.er►der. �
<br /> I1ppn paym.g�t in fuil qf all sums secur�d 3�y.this Ser^sricy Instrument,Lender shall prom�tly refund to Borrower ,. ` . . �
<br /> any Fun4s h���by.Lender.if unde�paragraph 39 the Pcaperf}�u sold ar acquired by Lender,Lender�aU apply,no later _� ` ' �
<br /> than i�nmsdt�tely prior ta,the.sale o�the Property or its acquisition by Lender,any Funds held by Lender at the tirne of • '�
<br /> app]icafiqrt,�s�credi;�gainsttl�e,sum.��curedbythisSecurity[nstrument. � � '�,�'
<br /> • 3 �.�Applicati¢�,pt,j'aytnents. Urttess applicabte law provides otherwise,alI payments.received by Lender'under.. �.
<br /> � . paragraphs 1 and�2 th���;j��appJied:first,to late charges due under tYie Note;second.to prepayment charges due under the
<br /> ' Note;thitc�.toamour��S,p�ya�bt�ttnder paragraph2;fourth,to interest du�and last.to pnncipal due- . � .
<br /> 4.� Ci�srges,Lieas. Borrp�uer shall pay all ta�ces,a�sessments,char�;es,fines and impositions attributabte tn the ,
<br /> Property �shf�h may �ttain priority,pwer,this Security Instrument. and i��.e,fwld pafinenu or ground rents, if any. , ,
<br /> Bonower shall pay these obligatians in the,mapnGr provided in paragraph Z,e�if not paid in that manner,Borrower shall '
<br /> pay them on time directly to the person awed paymein.Borrower shall prarnptly fumis�to Lender�lT.notices of amaunts , �
<br /> to be Q3id under this paragraph. If Barrouer make�.rh:se payments direc!!y. Bonou er�sll prom�tly furnisN�to Lender. � . ,
<br /> receipts evidencing the payments. � .
<br /> BorroWer shall promptly discharge any lien which has priarity over this Securit3 Iastrument unless Borrnwer:(a) , � . -.
<br /> agrees in wnting to the payment of the obligation secured by the lien in a manner acceptable to Lender.(b}contests in gnod �
<br /> " faith the lien by.ar defends against enfarceatent af the lien in,legal prnceedirgs which in the Lender's opininn�perate to , :
<br /> prevent the enforcement of t?►e lien or farfeiture of any pari of the Praperty;or(c)secures from the holder of the lie�an,,.
<br /> agreement satisfactory to Lender subordinating the lien ta this Security lnstrument.If I..ender determines that any.part of'.
<br /> the Property i}subject to a lien which may attain.priarity.av�r this Security Instrument, Lender may giv�$orr�wer a :�:-
<br /> notice identifying the}ien.Borrower shall satisfy the lien or take one or more af the actions set forth,abave within 10 days ' "-�—
<br /> of the gitiag of notice. .°�-�
<br /> 5. H9�rd lnsurAnce. Borrnwer.shal!k�p thc improvemcnts now cxisting ar hereaf'ter erec:ted on th�.Pmperty ''
<br /> insured against loss b)'fire,hazards included withir�the term"extended coverage"and any other hazards for which l.ender j
<br /> requires insu�anee. This insurance shall be mair.tained in the amaunts and for the periods that l.ender requir�. The :
<br /> insurance carrier pr�yidipg the insuranee shalj be chcssen by Borrower subject to Lender's appraval which sh�p r.et be � �
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<br /> . ' unreasonably withhetd.:; -
<br /> ' All ir►surance po,ii�es and renewaJs shall bc arceptable to Lender and shal)include a standard mortgage clause. �. ,
<br /> Lender shall have the right to hold the policies and renewals. 1P Lcnder reyuires,Borrower shall promptty give ta Lender `�.
<br /> aU receipts of paid premiums and renewal notices.In the evene of loss.Horrower shall give prompt notice to the insuranee �
<br /> carrier and Lender.Lender may make proof of loss if nat made��:amptly by Hc�rrower. '
<br />. Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applted tn resloration or repNir � '� `
<br /> of the Property damaged,if the restoration ar repair is economically feasible and Lender'ti secur�ty is not le,�sened. lf the �
<br /> restoratian or repair iti noi economically feasible or Ixnder's�ecurity would be lessened,the insurance pracee��.shaU be
<br /> applied tn the sums secured by this Security lnstrument.whether ar nc�t then due,with any excess paid ta Borrnu�er. lf
<br /> ' Borrowar abandons the Praperty.ar does not anrwer within 30 day�a natice fmm Lender that the insurance carrrcz has
<br /> - offe��4t W settlr a claim,then Lender may collect Ehe insurance proceeds.Lender may use the procceds ta re�rair or restore
<br /> � , ihe;�roperty or to pay�ums secured by thiy Secuc:ty lnstrument,whether c�r not then duc. Thc 3f1•d�y perind wil)begin
<br /> _.... . . . -whenthenoiiceisgiven.�---�--....... .... . .. .. .... . . . ... � .... -----._ .. ...
<br />�. . Unl�s Lender aad�3onawer at�wise agree in writing,any a�plication of praceeds to principa)shall nvt c�tend e�r
<br /> postpc�se thedue date of the monthly�Z��ments referred ta in paragraphs 1 and 2 c,r changc thc amount of thc pa}�ments.Jf
<br /> under paragraph ly the Yraperty is aequited by Lr:nder,Bnrrower's right ta�ny insurance pnlicie�and pmceeCS:esulting
<br /> � i'mm damage ta the Property prior to the acquisitc�r.shall pass tc�Lender tu the ea�tent c>f the�,um�secured by thiti Serur�ty
<br /> • fr•.Strument immediately pnor to the arquisition.
<br /> 6,� Preservatiae�nd:Naintenanceo!Froperty:I.easeholds. Hnnower shall nnt destruy,damage ur rubstanttaUy
<br /> change the I�rc►perty.ali�iw tke pr��periy t�� deteriarate or cn�:m�t wastc. If this Seeurityr Instrumrnt �s on a lea�ehoid,
<br />' Sormwer sh�U comply wtth the provisicsnsotthr:eese,and if Borrnwet�tcyuites fee ti;le to the,Yrnpeny�,the le��el�ald�nd ='-`—--
<br /> fee t�tle shell nc�t mergr unless Lcrnder agrees ic�eP��:snerger�n wrqing. . `
<br /> 7. Protection ot Lender's Rip,hts'in the Property; "�1ort�taRe lnsurance. 1f Nurruwrr fuilc ta perfi�rm tiic
<br /> eovenants and�greements contained ir.this Seeunty Instrument,vr there i+a lcgal psc�•:eeding that may ti��;ru(irantl�•uflcct
<br /> Lettder's rghts in the Prnperty (si:c!� as e prareeding �n bankruptcy�, probate,fc�r condemnati�n or 1�enfirrce law�nr ,
<br /> _te�ulatwn!.),then Ixnder may dn�nQ puy for whatever is nece�.wry�ta pt�tect the value of the!'r:�petty:�»d I.cndcr'y r�Z;hts
<br />. � � � in the Prc�perly. l.ender's aetions may �nclude paying any�umti�erured hy :� lien wh�ch F►a4 pnarit� i�rer tfii.tircuni} �
<br /> � tnslrumrnt.appeanng m coutt,paying reasunable Attarneys'fees and entrnng em thc Pr��pr rry e��rnakr r���a,r� at�iT��u�;h
<br /> l.rnde�may takc�ctu�u under Ihtc paragraph 7.Lendcr does nc�t h��e t�►de�st�. �'
<br /> Any am�+untt�Irtihucvetl hy l,�nder untlet this p�t�grarh 7 shal!heeart�e��i�im�»�,�1 deht��f I3E�rr�+w•cr�cccrcd hr ttm �
<br /> 5tcunty Inrtrutnent Ualer.Hurse�wer anci l.ertder��;rre tu vihcr trrm�r�f pa}rncnt.thc.e attt��utih tih�ili hear mtrtr.t ti��►n �q
<br /> the d�tr nf di�t+unement at the Vate rate nnd shall he pa4ahle. H�th tnterc�l. upv�� n��t�ce t�nsn i cndrr ��� H„r���«cr �� ,
<br /> reyuesf�n6ps�mci�t . fi
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