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<br /> UNtFOicM CAVENANTS. Borto�rer�nd Lender cctve�nt�ond�agree xs follows: • � , � , .
<br /> ° . L Psy�t of Pd�daal aad Iatte�at�t'tq�yment snd Lte,C6arges. Borrower shai!promptly pay when dur
<br /> ' , tlte principal af an;d int�rcSC'4n the debt evideziced'ny the l�tdte and any prepayme.nt and IaUe eharge.s due under the Note. � �
<br /> 2. Faads!or 1''axes a�d Iasuraete. `Subject taapplicable tacV or to a written waiver by I:ender.Qorrowershall pay
<br /> ' ' , to Lender an'tl�e day monthlg paytrients are dut undes the Noit;unti!the Note is p�id in full.a sum("Funds")equdl ro
<br /> on�.t�velfth c�f: �a� y+early t�ats� ass�essmeai�_vt�h�h m�y altain.priority Qver this 5ecusity Instsumen�; (b)Yearly; _ . .
<br /> � ` tid�sehntd payments.air ground rents an the Praperty.,if any; (c) yearly hazard insurance premiums; and (d) Y��Y ' .
<br /> mart�age insurance prtmiums,if any.Thae items are called"escrflw items"Lender may estimaie the Funds due on the . , . `
<br /> . buis rif current d�ts�nd rt�sonahte esti�natcs of future escrov�r items. �
<br /> The FW�ds sliall bcheid in aa institution the deposits or accounts of which'are insured or guaranteed by a fedcral or
<br /> � . s�tte age}�cy(incl�ing Lender if Ltnderis sucb aa institutioa).Lender shali apply the Funds to pay the escrbw items. � �
<br /> � �.tnder msy nbt charEe for hotdis�g and applying the Fuads,analyzing the account or verifyting the escraw items,untess
<br /> ; , Letidet psys Barrower interost ot�the Funds and applicabte iaR permits Lender to make sueh a cbarge. Horrawtr and
<br /> : I.eader may agre�in writing thai inierest shall be paid on the Funds. Unless an agreement is made or appGc�able !aw .
<br /> ; � requires i�4�k f,�ttii:paid,I�ender s6a11 nat be requiced to pay Borrower any intere�st.ar eanrings on the Fands.Lender . ,
<br /> ; sh�U give��j�aa��r,aithcrrit.eharge.aur annval accounti�g of the Funds sh4�credits and debifs:G t:l�e.Fundsand the , � �` :: ..s .
<br /> f „:;r;�.,� .
<br /> paspose for w}t�e�t:��s"�cc��:7he���nds was made.'t'he Funds are pledged.�s':;:�ditional security fe��tI;;.�ns secure,d by ��s�� . .
<br /> : this Securety Ia�t�.3t�:e�:,.''.:..', . , : � � ' - , . . ,
<br /> , = �'��,:•
<br /> , .� If the amc�r:i���e�:.iiids hatd hg�der,:���:�her ari4h tF���t�crnthly payments of Fuiids�aya6le prior t� _
<br /> , �the due dates of E�ie escraR%�ECns.shaH extxod the am�unt required to pay tli�escrow iteuts when due,t�e cacess shall be. �.
<br /> �,., , st Botro�rer's optinn,either p��mpEly repaid to Borrower or crediteti te Borrov�er on manthly paymcnts af Funds.If the �
<br /> ' amaunt of tht Fnaids hetd by I:ender�s not st�&cient to pay the escrorv items tvhen due,Bonower shall pay to Lender any ' -
<br /> � amount necessary to make up the deficiency in one or moFe payments as required by Lerider.
<br /> . � . Upnn paymeni in fu11 of all sums secured by this Security Insfrument,F ender s6al!promptly refurtd`to Bonower
<br /> � � . ar►y Funds held hy Lender.If under paregreph 19 ihe Praperly is sotd or acquired by Ler�der,I.ender sha{1 apply,no l�ter .
<br /> ` � ' , thzn immodiatefy p�ior to the saie of the Propersy or its acquisit�on by Lettder,any Funds.hetd by Lender at the time of
<br /> . � apptication as a crcdit against!he sums secured by this Security Instrument. .
<br /> , ' � 3. AgpltcaHoo a!Paymeets. Unless applicabte!aw provides otherwise,all payments received by Lender under � �
<br /> � par�gaphs t and 2 sball be applicd:first,to late charges due uader the Noi�second,to prepayment charges due ur.der the
<br /> . Notr;third,to amounts psryable bnder paragraph 2;fourtb,to interest due:and last.ta principal due.
<br /> ' 4. (�r�;l�. Borrower shall pay�11 taaes,assessments,charges,fines and impositions attributable to the
<br /> . Property which may attain prioriry over this 3ecurity Instroment, arid Ieasehold payments or �round rent�, if any.
<br /> ` Horrower shaN pay these obtigations in the rr�anner ptovided in paragraph 2.or if not pstid in that manner,�orrower shall ; '
<br /> ; pay thern qn timc diroctly to the persan owed payment.Borrower shal!pramptly furnish to Lender alJ notices of amaunts �-
<br /> . � to be paid under this pazagraph.If Borrower makes these payments directly,Bonawer shall promptly fumish to Lender
<br /> ' . � receipis evidtneing the gayments. '
<br /> . • Horrower shall pnnmptly discharge any lien which has priority aver this Security Instrument unless Barrower:(a) ' �
<br /> ' agrees in writing to the payment of'the obligation secured by the lien in a manner acceptable to l.ender.(b)contests in good
<br /> . faith the lien by,ar defends against enforcement of the lien in,tegal proceedings whicb in the Lender's opinion operate to -
<br /> ' prevent the enforcement of the lien or forfeiture of any part of the Property;or(c)secures from the hoIdPr of the Iiec�an �
<br /> ' agrament satisfactory to Leadtr subordinati»g the lien to this Security Instrument.If Lender determines that any part of ��
<br /> , . the Propetty is subject td a lien which may attain prcarity over this Security Instrument, Lender may r�ive Borrower a
<br /> '. "notice identifying the lien.Horrower shall satisfy the lien ar take one or morc of the actions set forth above within 10 days '
<br /> � of the giving of notiee. ' --
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<br /> I S. Haurd Insnranee. Borruwer shall keep the improvements naw existing or hereafter erected on the Property . �
<br /> ; � insured against toss by fire,hazards includod within the term"eatended coverage"and any other hazards for which Lender
<br /> � roquires insurance. ?his ins�sance shall be maintainc� in the amaunts and f�r the periods that I.ender requires. The
<br /> . : insurance carrier providing the insurance shall be chasen by Barrower subjec:t tb T.ender's approval whi¢h shall nat be ,
<br /> unreasonably withheld. � '
<br /> • All insurance policies and renewals shall be acceptable to I.ender and shall include a standard mortgage clause.. •
<br /> ' " Lender shall hava the�ia1t1 to hold the policies and renewats.If Lender rtquires.Borrower shall promptly give ta Lender
<br /> � all receipts of paid premiums and rtnewal nntir,es.ln the event of toss.Borrower shalt give prompt notice to the insurance ,.�
<br /> � carrier and Y.ender.Lender may make proofbf toss if not made prompily by Herrawer.
<br /> , i Unless Lendor and Borrower otherwise agrce in writing,insurattce proceeds shali be applied ta restoratian or repair
<br /> : oP the Property damagod,if the restoration or repair is econamically feasible aad Lender's security is not lessened. If the
<br /> . restbration or repair is not economically feasible or Lender's security would be lessened,the insurartce prnceeds shall be
<br /> , applied to the sums securod by this$ecurity lnstrument,whether or not then due.with any excess paid to Borrower. If
<br /> Borrower abandons the Property,or does.not answer within 30 days a nolice from Lender that the insurance carder has ��-��-�-�---�-- - �
<br /> � � oRer�ed to settle a ctaim,then Lender may ro}tect the insurance proceeds. Lender may use the proceeds to repair or restore.
<br /> . � the Property or to pay sums secured by this Security Instrument.whethcr or not thcn due.The 3Q-day period will begin ' . .
<br /> when the notic;e is given. ,
<br /> , � Untcss Lender and Borrower oiherwise agree in.writing,any application af proceeds to principal shall not extend or.
<br /> � pastpone the due date of the monthly payments referred to in p�ragraphs 1 and 2 or c�nangc the amaunt of the payments.If
<br /> �� unQer paragraph 19 the Property is acqdirad by Lender,Borrower's right to any insurance policies and procetds rcsulting
<br /> : from damage to the Praperty prior to ttse acc{uisition shall pass ta Ixnder to the exteni of the surns secured by this Security
<br /> , : lnstrument immediately prior to the acquisition. �
<br /> 6. Praerration and Mainten�nce olPraperty;Leaseholds. Borrower shail noi destroy,damage or substantially �
<br /> change the Property,allaw the Property.to dexcriorate or commit waste. If this Security Instrument is an a leasehold,
<br /> Bonower shall ccicr�ply with the ptovisioc�s a�f the lease,and if Horrower acqvires fee titte to the Property,the leasehald and ,-—
<br /> fee titte shall not merge unless l.ender agrees to the merger in writing. . �
<br /> _ � 7. Pmt�ian nf I�ed�er's Si�hts tn the PraAerty; Martgage Insursnce, lf Hnrrnwer fa:�c to {+erform the . ;
<br /> � cavenants and agreements c;,ntained in this Security l�trument,or there is a legal ptoceeding that may s:gniflcantly affect �
<br /> Lender's rights in the Property(such as a proceeding in bankruptcy,pro6ate, for eond�::nation or to enforce laws or ' �
<br /> , regulations),the�Lender may do and pay for whatevex is necessary to protect the value of t�:e Property and Leader's rights �
<br /> ' in the Property.I.ender's astions m�y include paying any sums secured by a tien which has priority aver tbis Security �
<br />. Insttument,appearing in et�urt,paying reasonable atturneys'fees and entering on thc Property to mnke zrpairs.Although
<br /> � Lender may take action under this patagraph 7,Lender does not Have to do so.
<br /> Any announts disbnrsed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this . n
<br /> Ses�,rity Instrument.Untess Horrawer and Lender agree to other terms�f p�ymeni,th�se�ttioUnts shaU bear interest frnm. � �
<br /> thC date of disbursement at the Note tate�nd shall be payabte. with interest. upon nofice fram Lender to Harrower . , �p
<br /> - . .ttquestin&payment.
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