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<br />89-1. 101116
<br />UNIFMMCOVENANTS. Borr01WwWIAM &roV4MAntandagfltaSfolkW%:
<br />I. Payl■Ntt of Pdadpal said Isterse ; Pt*PN rat M tad Lat!t • Borrower shall promptly pay when due
<br />the principal of and interest an the debt evidenced by the Note aMdanr late
<br />prepayment and charges due under the Note.
<br />2. Faadb fer Taxes atd Iasaraaee. Subjr:cr: toagpticabtc law ar to a writtetx waiver by Lender, Borrower shall pay
<br />to Leader on the day monthly payments at due under the Note, until the Note is paid in full, a sum ('•Funds•') equal to
<br />one -twelfth of- (a) yearly taxes and assessments mulch may attain
<br />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 insurance premiums, if any. Theca items are called "escrow items." Lender may estimate the Funds due on the
<br />bads of current data and reasonable estimates of futum escrow items
<br />The Funds shall be held in an institution the depe is or accounts of which are insured or. guaisntee3.bp.a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Fundb!ta -pay the escrow items.
<br />Lender may not charge for holding and applying the F t , analyzing the account or verifyinigthe. escrow items, unless
<br />Leader pays Borrower interest on the Funds and ap P&Ab a law Lender to '
<br />permits make such' a:.
<br />Larder may agree in writing that interest shall be paid ca tie' Funds-. Unless an �*� 13tsrrawer and
<br />t ma�dt ttpj;iiii rote law
<br />'
<br />requires interest to be paid, Lender shall not be , Miti,.� L�rodier
<br />"give LD BO ' -'t� t^►, pay Barrows any interest. or tarn on �rlr:,ii
<br />lP rm�. uithout charge, an auuud accoun - of the Fu.;.eb sF�' andd�ts tim!lf Cluri3 nitiF 3xr
<br />'cg
<br />purposefor,%ti=ch ew h debit to the Frands was 4ma
<br />thisSecuri* inadt T &GFundsSr@ le+d 23atldr
<br />' �ssir,�eai. : P d t?cros3 sectidiry ftirr itF�qu� ra~arreat b3!
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<br />If the amain of the Funds held b j I-Leirdzr, together with the future mbnthty payments of Fund>o , e print tic.
<br />the due dates el h: e=ow items, shat! end -the amount required to ahz items due,
<br />pay escnmw when the xeess shall
<br />at Borrowee . craioa, either promptly repaid to Borrower at credited to Borrower on monthly payments le,FiLads. If the
<br />amotmt oMe Funds held by Lender is not suf dint to pay �k escrow items when due, Borrower shall psy t? T�aeader any
<br />atnounzaftessaty to make up the deficiency inane or morppayments Ps acquired by Lender. "' s .
<br />1;pon payment in full of all sums secrarea by this Security lwrrs ant, Lender shall
<br />any Funds held by IA=der. If under paragraph:l4 the Propy is sod �r acquired tl LenderP
<br />. L,ler shall itgjitcJ: no IatYa �''. ;...
<br />than immediately prior io the sale of the Psgperty or its acquisition by Lender, i Funds heid icy Lenders i ie time o1`
<br />application as a credit against the sums secured by this Security I,1strument.
<br />ppUcafiaa ai Psyia m. - Unless applicable law provides otherwise,, Au' payments received by
<br />parag7ap'hs I and 2 dL1a * ag�ct_ asst, to line charges due under. the Note SeCOrxi, is p.. +' epaytt charges dt; a tfidEt 1 jie' :
<br />Note;
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<br />third, to am MW-V Rayablt und= Par&9m b 2; fourth; to interest due;. and less*:, r¢• Trrci�4 dW
<br />4- beau. Be crown shall pay all taxes, assessitients, cbargc�, fin, ;, an: axis attrtiruta bla to the
<br />Property 'a cb tray attain 006r ;� over this Security Iasstrument, and leasehold ;r-,m ,, or ground cents, if any.
<br />Borrows; sh alil pay these obligations-ID the manner provided in. paragraph 2, or if not paid in iLz =' =er, Borrower shall
<br />Pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph, IT Borrower retakes these Payments directly, Borrower shall furnish Lender
<br />promptly to
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which hus priority over this Security Instrument unless Borrower. (a)
<br />agrees in writing to the payment of the obligation secured by the Tian in a manner acceptable to Lender, (b) contests in
<br />asl .
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<br />good
<br />faith the lien by, or defends against enforcement of the lien inJe proceedings which in the Lender's opinion operate g
<br />prevent the enforcement of the lien or forfeiture of an P P n
<br />y Pars rift t9i¢ Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to thin Security Instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may attain priorityove . this Security Instrument, Lender
<br />'Liar
<br />may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien on take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
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<br />S. Ilatud Iaarnace. Borrower shall keep the impieivements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term.t %xtended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by- Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />. All insurance policies and renewals shall be acceptable to, Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals,.If1Lender requires. Borrower
<br />N�
<br />shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of logs, Borrower shall give prompt notice to the insurance
<br />carrier NO Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, laser 'ance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is feasible
<br />economically. and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lewauW, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, witlr any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days from
<br />a notice Lender that the insurance carrier has
<br />ofe nd to settle a claim, then Lender may collect the insurance proceed,,. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security
<br />Instrument, whether or not, then, due. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of1pr oceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in
<br />paragraphs 1 and lion change the amount of the payments. If
<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 prior to the acquisition shall to Lender to
<br />pass the extent,of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />G. Preservitioa mW Mainteaaaee of Propao; Leaseholds, Borrower shrill not-dtmtroy, damage or substantially
<br />change the Property. allow the Presyaerty to deteriorate
<br />or commit waste. If this Se --urity Instrument is on a leasehold.
<br />Borrower"] comply with the prOvisiMS of the lease. and if Borrower acquires fee Title to the Property, the leasehold and
<br />fee title shall not merge unless Lender aVaft to fic in
<br />I merger writing.
<br />7• Protection of undws g10% is tfw Property; Mortgaw ra Dunace. if Borrower faits to perform the
<br />covenants and agreements contained h% this Security Instruml
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<br />-4. Qt. theria' .I, a legal prl;: -e -ding that• may signif 11y affect
<br />Lender's rights in the Property (mils'as a proceeding in tstn)LLm -p,-,_V, , prn*ate, far c�rtdemnatiomor to enforce laws or
<br />regulations), then Lender may do andi'pay for whatever is nrcemary tO the
<br />i
<br />An�gect value of the Pinperty and Lender's rights
<br />in the Properly.. Lender's actions may inch«!% paying any Burns securcti y a lien wlrich has priority over this Security
<br />Instrument, appearing in court, paying reasonable attorneys' fees and
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<br />entering on the Property to make repairs. Although
<br />Lender may 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 additionakdebuafRorrower secured by this
<br />Security Instrument. Unless Borrowei and Lender agree to other terns of payments 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 />requesting payment.
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