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<br /> � _ . . . � - . � -- -�Q---- 14�8'�2 � � .
<br /> I -� UNIFURM 1COVEI3ANTS_ Horrower and Lender covenant and agree as f�llows: �
<br /> � 1. Payment of Prtncipal and Interest;Prepayment and I.4te C6arges.� Borrower shall ptomptty pay,when due
<br /> ' � the principal of and interest on thc debt evidrnced by the Note and any prepayment and late charges due under the Note. •
<br /> 2. Funds for Tazes an�Instir�nce. Subject to applicable law or to a written waiver by Lender,Borrower.shafl pay ,
<br /> . � to Lender on the day monthly payments are dae under the Note.untii the Nate is paid ia full,a aum("Funds")equal to - . ,
<br /> � one-twelfth of:(a) yeariy•taxes and assessments which may attain priority over this Security lnstrument; (b)�yeatly
<br /> leasehold paymen�s or ground rents on the Property, if any; (C) yearly harard insurance premiums; arid (d) yearly
<br /> mortgage insurarcce premiums,if any.These items are calted"escrow items."Lender may estimate the Fnnds due on the �
<br /> , � ,� basis ofcurrent data and reasonabte estimates of future escrow items. ,
<br /> � The Funds shall be held in an institution the deposits or accounts uf which are insured or guaranteed by a federal or •
<br /> • � state agency(including Lender if I.ender is such an institution). Lender shall apply the Funds to pay the escrow items. _
<br /> Lender may not charge for holding and applyiag the Funds,analyzing the account or verifying the escrow items,nnless
<br /> Lendes pays Barrower interest on the Funds and applicable taw permits I,er�der to make such a charge. Borcowet and
<br /> , . - Lender may agree in writing thaf interest shail be paid un the Funds. Unless an agreement is made or appticable law ,
<br /> requires interest to be paid,Lender s6a11 not be required tQ pay Borrower any interest orearnings an the Funds.Lender
<br /> ` shall give to Banower.without charge,aa�annual accuunting of the Funds sbowing credits and debits to the Funds and the � � '
<br /> purpose for which each debit to the Funds was made.Z'he Funds are pledged as additionat securit�for the sums secured by �
<br /> this Sec.wr�ty Insmunen�. � ,
<br /> - If t�e amouat.of t�te�Funds,�tetd by Lender,together wit3�t�te fatare monthly payments of Fnnds payahte prior to � -
<br /> ' � � the dua dates of.the esc�ow items,si�all exceed the amoun't require�fo�say the escrow items when due,the excess shali b� • .
<br /> - • � at Borrawer's option;;eirher promptly repaid tu Boaower ar`creditel�t�s$orrower on monthly paytnents of Funds.If the ; '
<br /> � a��cs�.-�t 3f.W:e Fuads ttcid tsf�SSC�is nai suS�sri�i ta gs;��cr��!+.+"tems when��ar,R�sr�wer chall pa�tn.Lender anv_ --- _ -_
<br /> � ; , amourfi n�cessary to make up the�eficiency in one or more pa�ments as required by�.eader. �' ', - ,
<br /> � �.. ' ' Lgpan�paymgnt in full of all sums secured t�y�this Security Instrument,Lender sttall promptly refiind t�Borrower
<br /> � � any Funds held by I.eader.If�nder paragraph 19 the Property is sold or acquired by Lender,�.eh�er shall apply.no lates � . � .
<br /> , . than immediately prior.to the sale of the Property or its acquisition by Lender,any Funds hel3 i�y Lender at the time af
<br /> ' , �. ,applicatior�as a credit against the sums secured 6y th�s Security Instrument: • , , , .
<br /> 3. Appf�canoa of Payments: Untess applicable law p*ovides otherarise.al!payments received by Lender under � •
<br /> paragraphs 1 and 2 shall be applied:first,to late charges due uader the Note;second,to prepayment charges due under the
<br /> � Nat�tbird,toamaunts gayable under paragrapb 2;fourth.to interest due;a�d last,to principal due.
<br /> , 4. Charges,I�eps. Bonawer shall pa}r all taxes,assessments.charges,fines and impositions attributable to the ,
<br /> - - -- - - -- - grop�r[�wfich�maY;�tain�riority,over this Serurity Instrumerrt,--arrd ieasebofd Fa3+rtients or grocimci rems. if�Y- • _.
<br /> Borrower shall pay these obligations in the manner provide8 iri paragraph 2.or if na��iaid in that manner.Bonower shall
<br /> pay them on time direcdy to the person owed payment.Borrawer shalt pmmptly fusassTr.to Lender all notir�es af amounts
<br /> to he paid under this paragraph.If Borrower maices these paymerits directly.Harrow�er shaU pso�ptly fumisls�tc�Lender � . _. _
<br /> receipts evidencing the payments. ` �
<br /> Borrower shall promptly discharge any Iien which has priority nver this Security Instrument unIess Barrower:(a) �� ���
<br /> agrees in writing to the payment of the obligation secured hy the lien in a manner acceptab2e ta Lender;(b)contests in good �
<br /> faith the lien by.or defends against enforcement of the lien in,legal proceedings which in the Leader's opinion operate to
<br /> prevent the enforcement of the tien or fo:feiture of any part os the Propeny;or(c)secures from the holder of the teen an .
<br /> ageement satisfactary to Lender subordinating the lien to this Security Instrument.If Lender determines that any part of '
<br /> � the Property.is subject ta a lien which may attain priority over this Secti�rity lnstrument, Lender may give Borrower a ,`�
<br /> notice identifying the lien.Batrower shall satisfy the lien or take one ar more of the actions set f�rth above within 10 days , ,�L,;
<br /> of the giving af notice. • ;
<br /> 5. Hazsrd lnsurance. Bonower shall keep the improvements now existing ar hereafter erected on the Property
<br /> insured against loss by fire,hazards inctuded within the term"extended caverage"and any other hazards for which Lender .t "
<br /> requires insurance:This insurance shall be rraintained in the amour.�.s and for the periads tha; Lender requires. The • ,
<br /> , . insurance carrier praviding the insurance sha11 be ch+asen by Harrawer subject ta Lender's approval which shall not be
<br />. � unreasonably withheld. . . `' �
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<br /> A!1 insurance policies and renewals shall be acceptable t�Lender and sbalfi a:^:lude a standard mortgage clause. � `��
<br /> �. I.ender shafl have the right ta hotd the palicies and renewats.If�Lender requires,$orrower shal)pramptly give to I,ende3 `'��'' ' •
<br /> all receipu of paid premiums and renewal not*r,:,�s.In the event of loss,Borrower shalt give prorroFi notice to the insurance" . ,;� .
<br /> carrier and Lertder.Lender may make proof oF�ass if not r.;aae promptly by Harrouer. .'
<br /> Untess I.ender and aorrower otherwise agree in w�c�i;:g,insurance prcTCeeds shall be applied to restos�s�ic:�or repair � ,
<br /> oi'the Propeny damaged,iP the restoration or repair is ece:amically feasible and Lender's security is nat(essened. Ii'the
<br /> ' restoration or repair is not ecanamically feasible or I.ender's security u�ould be lessened,the insurance proceeds shap be �,
<br /> applied to the sums secured by this Security Instrument,whether ar aot then due,with any excess paid to Borrower. If �
<br /> Borrower abarcdans thc Property,or does not answer within 30 days a notice from l,ender that the insurartce carrier has
<br /> offered�to settle a claim.then l,ender may rollect the insurance proceeds.Lender may use the proceeds to rep�ir or restore ,.. • �� '
<br /> the P�a,perty or to pay sums secuPed by this Security Instrtiment.whether or not ti��n due.The 30•day period wifl begin
<br /> . -----��--- ---.._. . . ..--- --� ---•-- ----�-------�-� --�-�--�--- �- ----._..__...---------•---�- ---�--�-- --._._ .. .._.....----�---�-------...-�-----�------- .._.... ... ..... . .. . .. --- ------
<br /> when ihe noticeisgwen.
<br /> Unless Lender and F3orrower ntherwi�agree in writing,any apg�[::ation�Ppr��eeeds to principa!shall no!extend c�r
<br /> postparre the due date oPthe manthly payrr.er:±y referred to in paragraphs't and 2 or change the amount of the payments.[f
<br /> under pasagraph 19 the Property is acyuired by iender.B�rrawer's right ta any insuranre policie�and proceeds re!+ulting
<br /> from damage t�the Praperty priar to the acquisition shaU pass to Lender to the extent af'the wms secured by this Security ,
<br /> Instrument immediately prior to the acquisitia�.
<br /> 6. Preservation and Maintenance of Property;Leaschotds. l�orr�wer shall nvt desu�>y,damage or substantially �
<br /> change fhe Property,altow the I'roperty.to deteriorate or commit waste. If this Security Instrument is on a leasehold. � _
<br /> Borrower shall cumply with thc prbvisi�ns of'the leuse.and if Borrower acyuirc<:fec titlr tc�thc!'raperty.the lcasehnld and '-- —
<br /> fee tiQe shall not merge unless lxnder agrees to the merger in writing.
<br /> 7. Protcction of Lertder's Rights in the Property: Mortppge Insurance. IP Harr�nver fails ta perform the
<br /> cnvenants and agreemenls cnntaine�!in tNis Serurity lnstrument.or t here is a Iegal pr�,cecding that may signifirantly affect �
<br /> � lxnder's rights in the Yroperty(such as a proceeding in hankruntcy, pmhate. fi�r cundemnatiou ar tE�enforce laws��r . '
<br /> � regulati�►nsj.i#es�i,ender may daand pay for wtt�t�wr�is�►cti:e�s��y tc+piutect tltr vait�rvf'tt�r i'rc�pr�iq u�rJ[.r�t�fr�',ti ibl►ty ' --�
<br /> in the Properly. Lender s acti�►ns may indude paying any sum�secured by a lien which hati prinrit}• oa�er this Secunt�• , .�f'
<br /> Instrument.appearing in c�wt,paying reasonablr attorneys'fers and entcrin�on�he I'r��perty t��m.�ke rcpairs. Alth��u�;h �",
<br /> �. � l.ender may take actinn urtder this�paraRraph 7.Lertder dnel;n��t have tu d��so �,
<br /> � ' Au}r amounts dKhursed by Lender under Ihis para6raph 7 vhell hecnmc add�t��,naf dcM��f'Hurr��arr ticcured by th�5 �.
<br /> Secur�ty Instrument.Onlecs Horrotiverand t.ei�der:�grrr tuothtr tcrnti�of��ayn�rm.tiic�c am�+i�nt.cf�.�ll hrar uitcfe�t fs��ni �tA�
<br /> �he date of disbursem�nt c�t the tiute ratc aud �hall he paysble, ��ith intcrc�t. u���u iu��ire fr<�m lender In I►�+rro��cr �
<br /> requestingpa}ment. , r �"
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