|
..._.__..._r. ��. �
<br /> �'
<br /> °A-- �.0����
<br /> UN�FoItM Cc�v�tvqNts. Rqrrowtr And t�nder cavenant and ugrer u5 f�llnu•s:
<br /> • 1. P�y�!ot Prl�eipaf Md ieterest;Plepry�nent Rnd I.ate Char�cs. B�rr�W�er�hal) pron�ptly pay whcn due
<br /> � sh�prinel;�!of.::s�i:.tc:�;t c�,-�ihe deet evidenccci by the i�tote ancf uny prepayment aod late charg�s due unde�the Notr.
<br /> _• �'��ds��r'�'�xw u�I�aar�noe. Subject taxpplicahle law ar Eo a wriet�r�Kaiver t+y Lendu.Barrawer shalt pay
<br /> ta t.rndtr on the d�y manthiy paymcnts�rc duc undtr the Nate.until the Note ix pxid in full.n sum("Funds")equal to
<br /> r one•twelRh af: (a)yearly t�xes and �ssessments which m��� �ttain priority ave� this Securitp lnstrumcnl; (b) yGarly
<br /> � � laistlwid p�yments ar �rourxt �cnts on the Propeny. if any; (c) yeuiy hazard insurancr premiums; and (d) yearly
<br /> ; trwrtp�e insur�na premiums,if�ny,These items�rc c�lled•'escra�v ltcros."l.cnde�ma��estimatc th�Funds due on thc
<br /> ; basis of current dat��nd reasonabk estimates of i'uture escrow items. •
<br /> ; Ths Funds sh�ll be held in an institutian the deposits or accounts of which are insured ar guarantced by a federal ar
<br /> � state yency(inclwling I,ender if Lender is such an institution). Lender ahall apply the Funds to pay the escrow items.
<br /> � Lender may not cluir�e for holdina�d applying the Funds,analy�iog the account ar verii'ying the escrow items, unless
<br /> .� Leader pays Borrower interest an the Funds and�pplicable law permits Le�der to mxke such a charge. Horrower and
<br /> � Leeder may ��ree in writina that interest shall be p�id on .the Fund9. Unless an agreement is made or applicable law
<br /> roquircs inicrat to be piid,Lender shall not be r,equired to pay Borrower any intercst or earnings on the Funds.Lcrtder
<br /> ' shalt�ivc to Borrower.without charge.an annual accounting�f the Funds showing crcdits and debits to the Funds and the
<br /> purpose tor which ach debit t�the Funds was made.The Funds are pledged as additional security for the sums secur�d by
<br /> � thia Security Instrument, .
<br /> � If the unaunt oPthe Funds held by Lender�together with the future manthly payments of Funds payable prior ta
<br /> � the due dstes of the escrow items,shall eaceed the amount required ta pay the escrow items when due,the excess shall be,
<br /> � �t Borro�ver's option,either promptly repald to Banower or credited to Bonower on monthly payments of Funds. If thc
<br /> � � unount of the Fuads held by Lender is not sufficient to pay the escrow ite�s v�hen due,Borrower shall pay to Lender any
<br /> � : aunount neces,cary to make up the deflciency in one or more payments as reneured by Lender.
<br /> , upon payment in fuli of all sums se�ured by this Security�nstrumant,Lender shall promptly refund to Bonower
<br /> � any Funds lreld by Lender. lf under paragraph 19 the Propert�is sold or acquired by Lender,Lender shall apply,no later
<br /> � th�n imlrxdixtety prior to the sale of the Propeny or its acquisition by Lender.any Funds held by Lender at the time af
<br /> spplication as a credit apinst the sums secured bp this Security Instrument.
<br /> { 3. A�Ikatlos oi P�yn�e�t:, Unless applicable law p•ovides otherwise.all payments received by Lender under
<br /> � paragraphs 1 and 2 shall be applied:flrst,to late charges dueunder the Note;second,to prepayment charges due under the
<br /> � Note;thira,to amounts payable undea psragraph 2;fourth,to interest due;and last.to p�incipal due.
<br /> � 4• �f�;�MS• Bomov►er shall pay a11 taxes.assessments,charges, fines sr�d impositions attributable to the
<br /> � Property which msy attain priority,over this Security Instrument, and leasehold payments or ground rents, if any.
<br /> ; Bc�rrower Shall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner. Borrower shall �
<br /> + pay them on time dirxtly to the petson owed payment.Borrower shsll promptly furnish ta Lender all notices of amounts �
<br /> ito be paid�nder this paragraph.If Borrower makes these payments dircctly.Borrower shall prompily furnish to Iamder ' '�
<br /> _ _-_:_:_ -_-::�f..S:..�..vn.�iigi�icytiyrnonis.- . _ _. _ _ - _
<br /> Borrower shall promptly discharge any lien which has prioriry over this Security Instrument unless Borrower:(a) ���°'
<br /> ' agrees in writing to the payment of the obligatian secured by the lien in a manner acceptable ta Lender;(b)c�ntcsts in good i�
<br /> ' i'aith the lim by,os defends against enforcement of the lien in.legal proceedings which in the Lender's opinion operate to
<br /> ' prevent the enforcement of the lien or forfeiture of any part af the Property;or(c)secures from the holder of the lien an
<br /> agreement satisfictory to Lender subordinating the lien to this S�curity Instrument.if Lender determines that any part of
<br /> the Property is subject to a IIen which may attain priority over this Security lnstrument, Lender may give Borrower a '
<br /> , notice identifying the lien. Borrawer shal!satisfy the lien or take one or more of the actions set forth above within 10 days
<br /> , oPthegivingofnotice.
<br /> � S. Hazard Insunnee. $orrower shall keep the improvements now existing or hereafter erected on the Property
<br /> � insural against loss by fire,hazards included within the term"extended coverage"and any other ha2ards for which Lender
<br /> i requires insurance. This insurance shall be maintained in the amounts and for the periods that I.�nder requires. The ��
<br /> � insurance carrier providing the insurance shall be chosen by Botrower subject to Lender's approval which shall not be �
<br /> � unreasanably withheld.
<br /> ; All insurance policies and renewals shall be acceptablo to Lender and shall include a standard mortgage clause.
<br /> Lender shall have the right to hold the policies and renewals.If Lender rcquira. Borrower shall promptly give to Lender �
<br /> s all roceipts of paid premiums and renewal notices. In the event of loss,Borrower shall give prompt notice to the insurance —
<br /> carrier and Lender.Lender may make proof os loss if nat made promptly by Borrower. �_-
<br /> � Unless LendeT and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repai r � �
<br /> s of the Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened. If the �
<br /> ; restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds sha11 tse
<br /> ! applied to the sums securcd by this Security Instrument,wheiher or noi then due. with any e�scess paid to Borrawer.If
<br /> ; Borrower abandons thc Propefty,or does not answer within 30 days a notice fram Lender that the insurance carrier has
<br /> , offered to settle a claim,then Lender may colleci!he insurance procceds.Lender may use thr proceeds to repair ur restore
<br /> . the Frogerty or to pay sums secureci by this Security tnstrument.whether or not then due.The 30-day period will begin
<br /> when the notice is given.
<br />, � Unless I,endtrand Borrower otherwise agrce in writing.any application of proceeds to principal sh�ll not extend or
<br /> < postpone the due date of the montlaly payments referred to in paragraphs 1 and 2 or changc the amount of the payments.If
<br /> - under paragraph 19 the Property is acquired by I,ender,Bonower's right to any insurance policies and proceeds 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 /> � Instru.ment immediately prior to the acquisition.
<br /> 6. Preservation and Maintenanre of Property;Leaseholds. Aorruw�er shalt not destroy,damage or substantially
<br /> cflange the Property, allow the Property to deteriorate or commit waste. Ef this Security [nstrument is on a leasehold,
<br /> Borrower shall comply Kith the provisions of the lease,and if Borrower acquues fee title to the Property,the leasehold and �
<br /> fee title shall mot merge unless Lender agrees to the merger in arcting. �
<br /> 7. Protectian of I.ender's Rights in the Property; �tortgage Insurance. b(' f3orrower fa�ls to perform the
<br /> eovenants and agreeinertts contained in this 5ecunty Instrumeat,or there is a legal�+rc�ceeding that may sign�ficantly aflect
<br /> Lender's rights in the Property (such a,a proceeding in bankruptcy, pmbate, for condemnmt�on or tn enforce iaws or �
<br /> regulations),then Lender may do and pay for a•hatever is necessary to protect the�alue of the!'roperty and Lrnder's rights •
<br /> in the Property, Lender's actions may include paying any sums secured by a lien «•hich has pri�r�ty oaer this Securit�• �
<br /> lnstrument,appearing in murt,paying rea�cmable attorncys'fees and entenng on the Property to maF.e rep:,ir�, Although I
<br /> Lender may takc action under thi�paragraph 7,Lender does not ha��c to do tic•. �
<br /> Any amounts disbursed by Lender under this paraeraPh 7 chall hecornr addst:�mal deht af�i,�rrm:�r:�currd i�y �In. %�-
<br /> Security Instrumcnt. Unless Borm�vcr and Lender agrec to othcr term��f�a}mcnt. thc�e amounf��h��ll hcar ii�tcrc�t fr��m �
<br /> the date of disbursctncnt at thc tii.te rate ar�d tihall he payahlr. ��ith interc�t, urum n��t�re R��m !end�•r t�� Hnrr��ti�cr �
<br /> rcquestin�p;�ymcnt. . '�
<br /> �.
<br /> _�
<br />
|