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<br /> � UNlFORM�.'OVENAN75. Horruwer and Lendcr covenant and aRrcc as follows: v 0 Q�
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<br /> �. F�watt ot F'ri�ciMl�ad l�terat;�'re�nyment�nd Late ChuQa. Borr�wer shal!promptt�pay whe.n due
<br /> the princip�l of and interest on the debt evidenced hy 1he Nnte and aay prepayment and lste chargrs duc undcr ehe Nate.
<br /> . 2. F��ds tor'!'aYq�I�ras+ee. Subject ta applicablc law os ta a written waiver by Lendcr�Barrawer shall�ay
<br /> � to Lender on the day manthly p�yments are due under the Note� until the Nate is paid in full,a sum("Funds")equal ta
<br /> one-twcllth af: (�)yea�ly taxes and assessments which mAy �ttain priority uver this Security I�strument; (b) yearly
<br /> �chold p�ymenta or graund rents on the Praperty, if any; (c) yearly hazard insurance premiums; a�d (d) yearly
<br /> atort�agc insurance premiums,if any. These items are called"escrow items."Lender may estimatc tht Funds due on the
<br /> baiis of current data and reaso�able estimates oPfuture escrow items.
<br /> The Funds shal!be held in an institution the deposits or accounts oPwhich are insured or guaranteed by a federal or
<br /> state s�enGy(including I.ender if I.ender is such an institution). Lender shall apply the Funds to pay the escraw items.
<br /> I.ender may not eharge for holding and applying the Funds,an�lyzing the account or verifying the eserow items, unless
<br /> Lender pays Bonower interest on the Funds�nd applicable law permits Lcpder to makc such a charge. Borrower and
<br /> Lender msy agrec in writing that interest shall be paid on the Funds. Unless an agreement is n:ade or applicable!aw
<br /> requira interest to be psid,Lender shall not be requircd to pay 8orrower any interest or earnings on the Funds.Lender
<br /> shall give to Barrawer,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 escrow items,shall exceed the amount required to pay the escrow items�hen�ue,the excess shall be,
<br /> �t Bc�rrower's option,either pramptly repaid to Borrower or credited to BonaWer on monthly payments of Funds. If the
<br /> • amount of the Funds held by Lender is not suflScient to pay the escrow jtems a�Fen due, Borrow�r shal)pa�+to Lender anv
<br /> smount nececcsary to make up the deficiency in one or more�ayments as required by Lender.
<br /> Upon payment in full of all sums secured by this Security Instrament,Lender shall promptly�efund to Borrower
<br /> any Funds held by Lender.lf under paragtaph 19 the Property is sold ar acquirecl by Lender,Lender shall apply,no Iater
<br /> rha,n�ianmodiately prior to the sale osthe Property or its acquisition by Lender,any Funds held by Ltnder at the time of
<br /> applic:uion as a credit against the sums secured by this Security Instrument.
<br /> 3. Appliqtlon of Paymeets. Unless applicable law provida otherwise,all payments received by Lender under
<br /> paragraphs 1 and 2 shall be apptied:first,to late charges due under tRe Notr,second,to prepayment charges due under t�:e
<br /> . Note;third,to amounts payable under paragraph 2;fourth.to interest due;and last,to principal due.
<br /> 4. Charges;Liens. BQrrower shall pay all taxes.a�sessmer.ts, charges.6nes and impositions attributable to the
<br /> Property which may attain priority over this Security Instrument, and leasehotd payments or ground rents. if any. • �
<br /> Bonower shall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower sha!! ;
<br /> pay them on time directly to the person owed payment.Borrower shall promptly furnish to Lender all notices of amounts �
<br /> t0�IG � under this naraeranh.Tf rtr� ar ma4wc t xn o.� se .»��.. _'^ c --'-'- - ,--='--
<br /> -- -: � . .. -.. ---- —�(.'--_1Y� _..._...,,.�h..._�..�s^�is.�ii::�ilj� :::,T:a::... arral�}nv�i}NISji �u,ut��� tu i.caacr � _
<br /> receiptsevidencing the payments. i ° :_
<br /> Borrower shall promptly discharge any lien whi:h has priority over this Security Instrument unless Borrower:(a) � _°�-
<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 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 oP the Property;or(c)secures from the holdtr of the lien an
<br /> agreement satisfactory to Lender 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 ,4
<br /> notice identifying the fien.Borrower shall satisfy the lien or take one or more of the actions set fonh above within 10 days
<br /> t of the giving of notice.
<br /> � S. Haasrd Insurance. Borrower shall kap the improvements now eaisting ar hereafter erected an the Property
<br /> � insured against loss by fire,hazards included within the term"extended 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 Bortower subject to Lender's appraval which shall not be
<br /> , unreasonably withheld.
<br /> � All insurance policies and renewals shall be acceptable to Lender and shall include a standard mongage clause.
<br /> ; Lender shall have the right to hold the policies and renewals.If Lender requires, Barrower shall promptl}give to Lender
<br /> � all receipts 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 proot'of loss if not made promptly by Borrow�er.
<br /> � Unless L,ender and Borrower otherwise agree in w�riting,insurance proceeds shall be applied to restoration or rep�ir �
<br /> of the Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened. lf the . �
<br /> - restoration or repair is not econamicalty feasible or Lender's security would be lessened,the insurance proceeds shall be
<br /> ' ; applied to the sums secured by this Security lnstrument.whether or not then due,with any excess paid to Borrower. If
<br /> ' Borrower abandons the Property,or dues not answer within 30 days a notice f'rom Lender that the insurance carrier has
<br /> : offered to settle a ctaim,then Lender may collect the insurance proceeds. lxnder may use the proceeds ta repair or restore
<br /> the Property or to pay sums secured by this Security Instrument,whether or not then due. The 30-day period will begin
<br /> i when the notice is given.
<br /> Unless I.ender and Borrower ulherwise agree in writing,any application of praceeds to priacipal shall not extend or
<br /> . postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or 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 pass to Lender to the extent of the sums secured by thi.Security
<br /> Instrument immediately prior to the acquisition.
<br /> 6, Preservation and Maintenance of Property;I,easeholds. Borrower shall not destro}•,damage c�r substant�ally
<br /> change the Property,allow the Property to deteriorate or commit waste. lf this Secutity Instrument is on a leasehald,
<br /> Borrower shall comply with the provisions of'the lease,and if Borrower acquires fee title to the Propeny�,the ieasehald 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; �iortp,age lnsurance. If Borrow•er fa�l� to perfi,rm thc
<br /> covenants and agreements contained in this Security Instrument,or there is a Irga1 proreeding that may significanth•affrrt
<br /> Lender's rights in the Propecty (such as a proceeding in bankruptcy, probate. for condemnation or to enforce lewti or �
<br /> regulations),then Lender may do and pay for whatever is necessary to protec�the valuc��f'the Pmpert}and l.ender'r right.
<br /> in the Property. L.ender's actions may indude paying any sums secured by :e lien �ch�ch hati pn�nty cner �hi� 5erurny �
<br /> L Instrument,appcaring in court, paying reasonable attorneys' fees and entcnng on thc F�il�r�ily'1(t tll"dl�l'�C(�a�r�. Althc�ugli �
<br /> Lender may take artion under this paragraph 7.(,�nder does not ha�e to do sc�. 3
<br /> Any amount��i�hur�rd by Lender under this paragraph 7 shall becamc additional dcht��f I;i�rrouer.e�ured h� t hn t�
<br /> Security]nstrument.Unless Borrowerand Lenderagreetoe�ther termsof p,i}�ment,thr�c ame�unt..hell hc.,r intrrc�t fr�un ���
<br /> the date of disburtiement at the Note rate and shall be payable. aith interetit, iirun n��ucr fr�mi 1 rndrr t�� li,��n��.�•r
<br /> requestin6 payment.
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