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89— 101173
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Prisci#al o d Interest;, Prepayment and Late Charges. Borrower shall ,pr' mrtly pay when due
<br />the principal ofand interest on the debtevidertced by the Note and any prepayment and law charges due under the Note.
<br />2. Fends for Taxes and Insurance, Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in f0l. a sum ( "Funds") equal to
<br />one - twelfth of. (a) yearly taxes and assessments which may attain priority owr 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. These items are caned "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow it:ams.
<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 verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless as 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 accoutiting of the Funds showing credits and debits to the Funds and the
<br />puxpme for wU.ii.s ach.detht to the Funds was made. The Funds are pledged as, . additional security for the sums secured by
<br />tbti� Securityr%ft„�c•,�ert:.
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<br />I€ the air,..,: aa2! xl,e. Lands held by Lender, together with the future in'rsnthly payments of Funds payable prior to
<br />the d= datem cffbe t: -A items, shag exceed the amount required to pay tiro escrow items when due, the excel shall be,
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<br />at- r r f+ramrptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />aa�f -- t of the Funds heM t�- );.reader is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />t=W y in one or more payments as regc&ed by Lender.
<br />• Upon payment in fu,i<of Q.w745 secured by this Security Instrument, Lender shall promptl - tLfund to Borrower
<br />arxy funds held by Lender. If un&i- oalrszraph 19 the Property is sold or acquired by Lettd�.r„1F.endesr�ltalI apply, no later
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<br />'hanl iminedi wly prior to the sale 6ruh-~ Pruperty or its acquisitin_n by Leaser, any Frw4- held iby�'I�ader at the time of
<br />application as a credit against the stiri's seed by this Security Inst:ri>c
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<br />3. Application of Faymentx. Unless applicable law prov all payments receiicd by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under th e Nct-e .�.rond. to prepayment cFArges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to intw� due: w :d last, to principal due.
<br />4. Charges; Liens_ Borrower shall pay all taxes, assessments, eta. --ges, fines and impositions attributable to the
<br />Property which may attain; pOority over this Security Instrument, ake-, b aichold payments or S urd rents, if any.
<br />&grower shall pay these dl r;ms in the manner provided in paragraph Z. cr if not paid in that ntacr,,:.t^, Borrower shall
<br />pay them on time directly tz &-c persen owed payment. Borrower shall prompt23 famish to Lender aR ti aces o amounts
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<br />to be paid under this paragraph. If) .&,3wer makes these payments directly. IBurmw•er Shall prompt:y furnish t�- Lender
<br />receipts evidev.dugtlte payments.
<br />Borrowce 4,N& prompts_ disz1harge any lien which has priority over t2i�, S»u::t_ Instrument unless Borrow: (a)
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<br />agrees in writing to the pay *�=t of the obligation secured by the lien in a mar er acceptable to Lender; (b) contests in gc vd
<br />faith the lien by, or defends aea.-ist enforcement of the lien in, legal proceedcngs which in the Lender's opinion operate to
<br />prevent the enforcement of tree dozes er forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement sat~,ia..ctoty to Lender 5Wl rdinating the lien to this Securay Instrument. If Lendv. determines that any part of
<br />the Property is- s:abject to a 't:=Z which may attain priority over t*hi;, S=uoty Instrument- Lender may give Borrower a
<br />notice identifying the liens Frrrawer shall satisfy the lien or take ors; c•t zmorz of the actions set forth above within 10 days
<br />of the giving of notice._
<br />S. Hazard Insurance. Borrower shall keep the improvcments now existing or hereafter erected on the Property
<br />insured against loss by fire. hazards inr.W jed within the term "exte -ded coverage" and am ether hazards for which Lender
<br />requires insurance. This insurance sftall be maintained in the ar,r,3;:ats and for the perrcds 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 pc15 ;T,% and renewals shall be acceptable to Lender atnd shall include a standard mortgage clause.
<br />Lender shall have the riyr�r to hold the policies and renewals. If Le 3er raqu:ires, Borrower shall promptly give to Lender
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<br />all receipts of paid preriums and renewal notices. In the event of bass. Borrower shad prompt notice to the insurance
<br />carrier and Lender. Lends. may make proof of loss if not made promptly by B-;: rrower.
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<br />Unless Lender an W &- rrower otherwise agree in writing, inter an z pr•; needs shall be applied to ro- tor3tion or repr.ir
<br />oft1be Property damaged, i► the restoration or repair is economica.ty and Lender's security is iwi lessened. If the
<br />res.oray.,on crr repair is not economically feasible or Lender's s--runty would be lessened, the insurance proceeds shall be
<br />applied to tfiW gums secured by this Sc-mrny Instrument, whttktr or not then due, with any excess paid to Borrower. If
<br />Borrower a4dndons the Property, or does not answot within .10 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim, them Lender may collect the insuvarce proceeds. Under may use the proceeds to repair or restore
<br />the Property or to pay stars secured by this Security f ns3rt4mertt, whether o. Y not then due. The 30 -day period will begin
<br />when the notica is given.
<br />Unless Lender and Borrower otherwise agree in -ki-u-ecing. Wni, appl',. .ion of proceeds to principalshall not extend or
<br />postpone the due date of the monthly payments referrer to in paragraphs ) 4" 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lerrdtx, Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Proper Ty prior to the acquisiucr: shall pass to Lender to the extent of the sums secured by this Security
<br />lastrument immediately .emir to the acquisition.
<br />6. Preservativ>v:;rr.4 Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substantially
<br />change the Property. zt . the Property to'deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br />Borrower shall comply %vi rht .he provisions of the lease. and if Borrower acquires fee title to the Property. the leasehold and
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<br />fee title shall not merge err h%� Lender agrees to the merger in writing.
<br />7. Protection of Cendees Rights in the Property; Mortgage Insurance. if Borrower fails to perfornn the
<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that ma) significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate. for condemnation or to enforce laws or
<br />regulations), then Lender.maN. do and pay for whatever is necessary to protect the salue of the Property and Lender's rights
<br />in the Property. Lender's a,vonr, may include pa }ing any sums secured by a lien which has prwret% over this Security
<br />Instrument, appearing in court. paying rt:asonab'leattorneys' fees and 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 additional debt of i3orreacr secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of pa% ntent. these amounts shell) hem interest f rum
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<br />the date of disbursement at the Note rate and shall he payable. with interest. upon notice from Lender n• Horroacr
<br />requesting payment
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