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<br />89-- 100784
<br />UNIFORM COVENANT& Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on thedebt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds forTaxes and Insurance. Subject to applicable law or to s written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Mite, until the Note is paid in full, a sum ( "Fundti') equal to
<br />one- twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument;, Ca) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums. if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds. analyzing the account or ve.��ttfying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to makb such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made_ The Funds are pledged as additional security for the sums secured by
<br />this Security instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to
<br />the due dates of the escxrsw items. shall exceed the amount required to pay the escrow items when due, the excess shall be.
<br />at Borrower's option, et1=.pTcmpdy repaid to Borrower or credited to Borrower on monthly payments of Funds If the
<br />amount of not sufficient to pay the escrow items when due. Borrower shall pay to Lender any :•: ..
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<br />::.,., : , Mount necessary to rFrz&_ ct�;, •t.n.: deficiency in one or more payments, as required by Lender. •. . �: ;,.: .
<br />Upon payment iii. frt3l. tifall sums secured by this Security Instrument, Lender shall promptly refund to Borrower.
<br />airy Funds held by Lend: If under paragraph 19 the Property -is sold car ar:Guired by Lender, Lender shall apply; nn
<br />than immediately prior to the sale of the Property or its acgtiisiaion by Lender. any Funds held by Lender at the time
<br />application as a credit against the su&s.smured by this Secant y . nstrument.
<br />3. Application of Payments. Unless applicable '.,-�,� Orovides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late char g--f due under the Note; second, to prepayment charges due under the • . '
<br />Note; third, to amounts payable underparagraph 2 ; interest due; and last. to principal due.
<br />4. Charges; Liens. Borrotrir . shall pay all taa4% u-t to lsments, charges, fines and impositions attribumble to the
<br />Property which may attain priorit, .i, <F er this Security'Listrument, and leasehold pa. *-ments or ground rerr if any.
<br />Borrower shall pay these clriig,3ticn.�stn, tote manner provida "iii: rtr.r,1graph 2,,. or if not,paid in that manner, Borrower shall.
<br />pay them on time directly I? 1` ttic pers:;rs; i>> payment. Dorm Khali pramply furnish to Lender ail. notices of amounts
<br />to be paid under this paragraph. If Borrower ma os. these poyrnih N,dirrg:{Iy. Borrower shall premptI.y furnish to Lender .
<br />receipts evidencing the payments.
<br />Bomswer shall promptly discharge any lien which has Oriority over this Security Instrument unless Borrower: (a)
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<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends against enforcement of Vie lien in, legal proceedings which 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 holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. if Lender determines that any part of
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<br />the Property is subject to a lien which may attain priority over this Security Instrument. Lender may give Burrower a
<br />notice identifying the lien. Borrower shallsatitify the lien cr taki one or more of the actions set forth above witYTin 10 days
<br />of the giving of notice..
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<br />S. Hazard lnswinuce. Borrower shall IhAllp the improvements ppw exisiirrg or hereafter :nmted on Oe Property' '
<br />;inured against loss by fire, hazards included within tbie term' extended coverage" avid ant, other hazards for w7 gat Lender
<br />requites in,urance. This insurance shall be mairtairsed en the amounts and for the {. -:rods that Lender requires. The
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<br />insurance Gluier providing the insurance shall h-e chosen 1-4c1 -Borrower subject to Lender's approval which shall not be
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<br />unreasondbiy withheld.
<br />All insurance policies and renewals shall rte acceptable to Lender and shall include a staijria•7d mortgage clause.
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<br />Lender slidi 'llave the right to hold the policies and renewals., 1'f Lender requires. Borrower shall r, crrs aptly give to Lender
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<br />all receipts of -paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to cb,,, inwrance
<br />carrier and Ltruder. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security i�i rot lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insvrzrce proceeds shall be
<br />applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to &..rrower. if
<br />Borrower abandons the Pronerty.ior does not answer within 30 days a notice from Lender that the insurar.ci� t:a►rier has
<br />offered tosettle a claim., tht.�rr tmd,, may collect the insuran.: proceeds. Lender may use the proceeds to rEp -i:r C.T'restore
<br />the Property or to pay stimi secured by this Security Instrument, whether or not then due. The 30 -G--y period will begin
<br />when the notice is given.
<br />Unless Lender and Borro verotherwise agree in writing. any application of proccods to p•rinzipal shall r,,nt extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the imi punt of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance pe.i ewi and prmceds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy. damage or substantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Property. the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance. if Borrower falls to perform the
<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property {such as a proceeding in bankruptcy. probate. for condemnation or to enforce laws or
<br />regu'raituus3. Ilrerr Lender may dtr and pay ftrr whatever is necessary- to protect the value of the Property and Lcttdr_r s tigith
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<br />to the Property. Lender's actions may include paying any sums secured by a hen much has priority over thr% Security
<br />Instrument, appearing in court, paying reasonableattornep.* fees and entering on the Property to make repairs. Although
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<br />lender ntay take action under this paragraph 7. Lender does not have to do sr
<br />Any amountsdv hurwd by Lender under this paragraph 7,-teal! become additional debt of Horrimer secured by this
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<br />Security 1m.trutnent t✓ tilesBorru% ver and tenderagreeto tither termsofpa }tnent. theseamount %%hail hear rntetotfrom
<br />the date of disbursement at the Note rate and %hall he pa ,.ahle. atth rurere%t. urcmc tic tc,c from: I ender tr- llo-. rower
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