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<br />U- NIFORM CDWMAMM Borrower and Lender covenant and agree as follows: . 89-- 10494 4
<br />" Payttseat of Priaclgal aid Iat*fc" PreMytueat sad Late dirges. Borrower shall promptly pay when due
<br />theplhwil)al of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />X Erich for Taos and Imm um Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to under on the day mthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />one-twelfth of (a) YftdY taxes and aneutriertts which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insutancepremiutms, Wany. Thest:items are called ••escrow items." Lender may estimate the Funds due on the
<br />bttsisofeurrent dataand rea sonabkestimatesoffutureescrow 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 (includitsg Lender if Letsda is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for boWmg and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Pttutds and applicable law permits Lender to make such a charge: Borrower and
<br />Leader Way Stce in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />rsequires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />altail give to ffiTTOWC, Without charge, an annual accounting of the Funds showing credits and debits to the Funds arA.the
<br />purposeforwhich each debit to the Funds.was made. The Funds are pledged as additional.security for the sutras serer by
<br />thisSecurity Instrumptt
<br />If the amount of the Funds heldby Lender, together with the future monthly payments of Fundsgrayabk prior to
<br />the due_ data of the escrow items, shall exceed thcamaurnt r pay the esccuw ite:�• when dues fhc excess shai1. bee,
<br />at S9orrvwes's • required to
<br />either promptly flit tr�;l3isrrr,�vttrartsi- fital to Borrower ati iiirari3uy paynrtir. 46I&TFthe
<br />t of tbe)' ds held. by Lender israryf:l�Ftai�rl:.t� Otm. i itea�sswhen rE 3i" .l5riiz,aYr shst .JA�'r� �pQr rxt
<br />a mmm neceasY to mai z V the deWZ iif oitc sti#x lxiy+nj It tes ral?i ii eri ei; : y
<br />Upon payment in' t� of old sr>s sccureii fi�!j liri . i�S''ttista�ern il,: l der s',all promptly is it>id to Borrower
<br />Fur l brad 6y Lende{:.rii wider paragraph 19 tarp i #txrperty lv.tto o or tom " d by Lender, Lenda-sl�d1 apply, no later
<br />t immediately prior to tFts sale of the Property q±- acquiiftt: fly. r-ty F)teld by %ccdier at the rimr: of
<br />application as a credit against the sums secured by tIusSecuritq i brit -turret '
<br />3. A on of Fay�ts. unless apgls,�e law pt+svides oth�ViN,- 4 �Pz its recehlx • Linder ender
<br />aphs 1 and 2 shall be aMI W: first, to late c due under the Neslc;, 1 i, ,:,. umeayment charms due under the
<br />third, toamoumpayamr underPat1sgraph2; fbuitii; tointerestduc ;andL-isi,'0principaldue-
<br />MargW LlaarL Borrower shall pay all tatm assessments, charges. fines and impositions attributable to. the
<br />Pr�L:'ty which may attain priority. over this Security instrument, and leasehold payments or ground rents, if any.
<br />l0riMr;.aU11 pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay 6rm on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this panyMq . If Borrows makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority aver this Security Instrument unless Borrower: (a)
<br />agrees to 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 eafoccernent of the lien in, leo proceedings which in the Lender's opinion operate to
<br />Prevent the enforcement of the lien or forfeiture of any pan of the property; or (c) secures from the holder of the lien an
<br />agreement satisfactory toLeader subordinating the lien to this Security Instrument, If Lender determines that any part of
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice adentifyitsg the lien. Borrower shall satisfy the lien Of take one or more of the actions set forth above within 10 days
<br />of thegivinaornotim
<br />ins S. Hazard Imm uee. Borrower shall keep the improvements now existing or hereafter erectcd on the Property
<br />=edagaiwt loss by fire, hazardsincluded within the term "extended coverage,, and any other hazards for which Lender
<br />regcru s i.'tsumme• This insurance shall be maintained in the amounts and for the periods that Lender requires. 71he
<br />insurance cx'KW providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />warawfubiy Wn bll eld
<br />All insurance pc, and renewals shall be acceptable to Lender and shall include a standard •mortgage clause.
<br />Lem er shall have the rigWt ea hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />& Mcipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insur&we
<br />carrier and Lender. 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 resmrst:ion or Vc—Air
<br />Of t2k Property damaged, if fft restoration or repair is economically feasible and Lender's security is not iessened, If the
<br />restntion or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shafH be
<br />applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid to Borrotwex- &f
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />ofered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sutras secured by this Security Instrument. whether or not then due. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrowerotherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payment: r!
<br />under paragraph 19 the property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property pior to the acquisition sou pass to Lender to the-extent of the sums secured by this Security
<br />Instrument immediately pr5ortatheacquisition.
<br />d• Pnae "itke aid "Wis"Mme of a±. Pro 6W—,zasehohhr, Borro- er shall not destroy. damage or substantwlw
<br />change the Property, allow mhe Property to deteri Z;4 or commie aura. V: `is Security Instrument p p� a.lrasdu:(d
<br />Borrower shall comply watrs,tt a provisions of the lease, and if Borrower �rurc:s fee title to the Property, tie k Hold a:d
<br />fee titk shall not Merge urtl u: E ender agrees to the rMes in writing.
<br />7• Plrotaetloa of Latdws Rlsbts its the PtOWIty; 1Nortpge iteuusumce. If Borrower fails 20 perform the
<br />covenants and agreementseontaihed in this Si.man"Y 9n'stntment, or thtfe is a'1cg;tl pracccding drat may signjficanrly at'riw
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce lairs or .
<br />re fulatiom), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br />in the Property. Lenders actions may include paying any sums secured by a lien which has priority over this Security
<br />Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although
<br />Lendermay take action under this paragraph 7, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment: these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower
<br />rewimingpayment.
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