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<br /> UNl�otttH Co�ENA'�TS., Borrower and Lender covenant and xgroe as foltows: ' ' .
<br /> • 1. P�yspt ot Prl�eipf aed intaa�Pire�aymeat aad Iite(�uges. Bonower shall prompdy pay when due �
<br /> - the principat of and intttest on thc debt evideaced by tlte Note and a�ny pregayment and tate charge�dur urtder the Note.
<br /> � � , 2. F�s for Taxes a�d Iu�unrca Subject ta applipble!aw ar to a writtea waiver by Lender,Bonow e�shalt pay �
<br /> to Lendrr on the day monthly paymen�S are dne under the Note,w►til the Note is pasd ia ful1,a sum{••Funds"}equal to ' �
<br /> ° -r ; `Ont-t�d#h c�Ei�)���► t�es and assessrnents which may attain griorityr over thi��Security Instrument; (b} yeatJy �
<br /> , lasebo3a payments or ground fents on th� Propertp, if any; {c) Yeazly hazard insurance premiva� and {d) yearly `
<br /> mort�agt insnrmce�+rerruums„if any.These items aze caltai"escrow items."Lender may�estimate�the Funds due on tlse �
<br /> , 6asis of�curnat data and reasonabk cstimates of future escrow items. .
<br /> � Tha Funds sh�ll be I�eld in an institution tise deposits or acc�unts�of wluch are i�ured or guarantad by a federat or .
<br /> , shte ageucy(inciudittg I.endes if Lertder is such an institntion).Lender shall apgly the Fund's tu pay the escroa items. �
<br /> . _ � Lendec may not cbuge for holding and applying the Fund�.anaIyang the account ar verifyi�g the escrow items,unless
<br /> • . • I.ender pays Borrower inttrrst on the Funds and applicablc law permits Leicder to make sach a charge. Bonower and � •
<br /> La�der may agree in writing that interest shaU be paid on the Funds. Unless an agreement is made or applicable law
<br /> , , roqtrira interesi to(ze�aid,i,ender shati not be required to pay Harrower any interest or earnings on the Funds.Lender
<br /> �iu�ll give to Borrower:without charg�aa annnal a�counring of the Funds showing eredits and debits to the Fands and the
<br /> � purpose for which eacb debit to tha Funds was made.The Funds are pledged as additional yecurity for the sums securcd by
<br /> ; this Sa�rity Instrument. , - .
<br /> } ' If the amount of the Funds held by Lender.tagether with the future monthly payments af Fonds payabte prior to . `
<br /> the due daus of the e�scrow items.�shail cxcxed thc amount raquircd to pay the escrow ittms when due.the excess sha}t be,
<br /> at Bonowor's option,either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds.If the
<br /> •. i, amaunt of the l�unds hetd by I.ender is nat su�cient to pay the escrow items when dne.8onower sha114ay to Lender any
<br /> amount necessary to maice up the cBef cienay in one or more payments as reqbired by I.ender.
<br /> fJpon paymeat in,fuU of aU sums secured by this Security Instrument,Lender shall promptly refund to Bonower
<br /> � � sny Funds hetd by Lender.If under paragraph I9 the Property is'soId Qs acquired 6y Lender,Lender shall apply,no tater � � � �
<br /> � � t6an immedi�tely prior to the saTe of the Property or iu acquisition hy I.ender.any Funds held by Lender at the time og ,
<br /> _ application as a eredit against the sums secured by this Security Instrument.
<br /> ` • 3. Applicattoa Qf PsyeQ�ts. Untess appFicable 1aw p�ovides othernis��1 payments received by Lender under
<br /> � � paragraphs 1 and 2 shalt be applied:first,to late charges due under the L�ate;second.to prepayment charges due under the •
<br /> . Notr,third,to amo�ucts payable under paragraph 2;fourth,ta intere�du�and last,to principal due.
<br /> . 4. Clt�rgt�Li+ees• Borrower sha11 paY a11 taxes.assesss��t�.cbarges,fines and impositians attributabte to the
<br /> , Property whicb may attain priority,over this Se�urity Iastrument, and teasehald payments or ground rents. if.any. .
<br /> � Borrower shall paX these obtigations in tke manner provided in paragraph 2.or if nat paid in that manner,$onower shall ,
<br /> � pay them on time directly to the person owed payraent.Borrower shall promptly furnish ta Lender all notices of amoants
<br /> ` to be paid under this paragraph.If Borrower makes these payments directly,Borrawer shall�promptly furnssh to Lender • � -
<br /> receipts evidencing the payments. �
<br /> Bonower shall promptly diseharge any lien which has priority over this Security Instrom�ent unless Borrower:(a) ;
<br /> agrces in writing to the payment of the obligation secured hy the lien in a manrier acceptable to Lender;(b)contests in good ��
<br /> faith the lien by,or defends agairtst enforcement of the lien in,legal proceedings�vhicb in the Ixnder's opinion operate to -�- -
<br /> . prevent the enforcea�ent oi'the lien or forfeitvs�of any part of the Property;or(c)secures from the holder as the tien an �
<br /> agrament satisfacta.*r,.to L'cnder subordinati�r�the tien to this Securit��nstrument.If Lcnder determines that�ny part of • _
<br /> the Property is subjeet to a lien which may attain priority aver this��.�curity Instrument, Lender may give 8arrower a � `
<br /> , . natice identifying the lien.Barrower shall satisfy the tien ec cake one Qr r,:ore of the a�tions set farth a6ove within 10 days .�'!
<br /> of the giving of natjce. � , ' �;�;
<br /> ; . S. Harud I�suranee. Borrower st-�.,�E£6ceep ti:e isr.provemenc�a�uw existi�g ar hereafter erected on the Property
<br /> insured against loss h�-fire,hszards included within the tes^2"eatende�coverage"and any other hazards for which Lender
<br /> � requias insurance. 'I'I�is insurance shall be maintained "rn )he amounts and for the periads that Lender reqaires. The �
<br /> . insurance carreet providing the insurance shall be chcisen�� Qotrawer subject ta Lender's approval which sliall not be .
<br /> ' unrrasonably withheld. � �
<br /> � AU insurance policies and renewals si�.;sIC be acceptable to L,ende.r and shall includc a standard mortgage ctause.
<br /> Lender shall have the tight to hold the policies and renewals.If Lendec requires,Borrower shall pramptly give to Lender
<br /> all rcceipts of paid premiums and icrtewal noti¢es.In the event of 1ass.Horrower shal!give prompt notice ta the insurance .;�
<br /> . carrier and I.ender.Lender may�make proof of Ioss if not ma3e promptly by Borrawer. , � .
<br />: ; Unless Lender and Borrower otherwisc agree in writing.insurance proceeds shaU be appl;ed to restorati.m or repair �
<br /> osthe Property damaged.it'the restoration or repair is economicalty fc�sible and Lender's sec�rrity is nat lessened. If thr
<br /> restoration or repair is noi ecorlomically feasil�:e or Lender`s security�ould be lessened,the insusance proceeds shall be
<br /> applied to the sums secured by this Security Instrumcmt, w•hether or not then due.with any excess paid to Rorrower. If �
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<br /> • Borrower abandona the Property.or docs not answer w•ithin 30 days a notice�Pram Lender that the insuraace rarricr has� � .� _.
<br /> otfered ta settte a claim,then Lender may collect the inslran�:e proreeds:Lender may use 1he proceeds to rcpair ar restore
<br /> • the Prop�rty ar to pay sums secured by this 5ecurity lnstrument,�tvhethcr or not thcn due.`fhe 30-day perind will begin
<br /> when the notice is given.
<br /> , , Unless Ler.der and Borrower otherwise agree in writ�.ng,any applicalion of pr��eeds to prinripa{shali not cxtend or
<br /> � postpane the due date of tht monthly payments referred.to in paragraphs 1 and 2 or chan�e the amaunt of the payments.lf
<br /> ' under paragraph 19 the Property is acquired by I.endei,Horrc»ver's right to any insuranc�e pnlicies and praceeds resulting
<br /> from damage to the Property prior tn the acquisition shall pass to Lender to tfle extent of the sums secured by this 5ecurity
<br /> � Instrument immediately prior to the acquisition.
<br /> . • . 6. Preservatioe stnd Mainten9ttce olProperty;Leaseholds. Borroa•er shatl not destroy.dama�e ar substantiaily
<br /> . change the Praperry,allow the Property to deteaarate or commit waste. lf.this 5ecurity Instrument is�n a leaseh��ld,
<br /> , Borrower sha11 romply with the pravisions of Ihe lease,and if Horrawer acyuirrs fee title to the Property,the leaschold and ' �
<br /> fee title shall not merge unless I.ender agrees to the merger in writing. . � �
<br /> - �- . . ?. F�ral�c�s:��II,eader's RigifQs #rt.4i�e Fruperiy; �artgat;e irisurance. tf€t�rrra•cr i�ifs tci pert'orm fi�r ' �
<br /> ' covenants and agteetnents cantained in�his Securi�y Instrument,ar thcre i�a legal prareeding that may signific:snUy uffee:�
<br /> � Lcader's rights in the Property (sueh as a proceeding in bankruptcy. prab-ate, for condemnati�►n �r tc�enforce law���r �
<br /> � regi�lations),then Ixnder may du and pay for whatever is necessary tn protert the�alue uf thc Pa�perty and Le��der'�rights
<br /> in¢h�Property. Lender's acticins may irtclude paying at�y sums secured by a lien �vhirh has pric+rity nrer thiti 5ecurity �
<br /> t Instrament,appearing in coutt.paying reasonable att�raeys fees a�id entering on the Property t��m:�ke rep.�irti, Althe�ugh �
<br /> L,. � ,Ltndet may take acf ion under this paragraph 7,Lender dnes not havP to du so. :¢
<br /> Any:tmuunts disbursed by i.ender uades this paragraph 7 shall hecnme:�ddi�inna)�leb�vf t3urrutivcr�crured br-shrs �
<br /> • 5ecurity'insirument.UnEess 8ortutver attd�.errderagree t6 vth�r tE�tns of p5�ment,thcsc amitunf�sUall he:u inietcst from �
<br /> •the ti�te a�'disbursement at the Note ratc and shall be payabte, ivitf� intrr��t. up��l� notrce frnm Lcndcr tn 13arr��r•er �
<br /> , requestingpayment. �r �'�
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