|
:
<br /> � _ _ ___
<br /> _ _� __ _
<br /> _ __.
<br />-�
<br /> �
<br /> � � -- �
<br /> I
<br /> � � 9�`l p
<br /> �3 01.
<br /> UNIFO1tM CoYENANTS. Borrower md Lender cav�n�nt�nd�=ree M+fa{luws:
<br /> � i� p�y�t o/Pri�t�al�I�terwt;PrsMywcnt�d Lte C�. Horrower shsl)pramptly p�y v�hen due
<br /> the princip�l of�nd interest on the debt evidenced by the Nate and�ny propayment aad late char�os due under the Note.
<br /> Z. Fa�for 7ucM aN I�r�nee. Subject to�pplicable law or to a written waiver by Lender.Botrow�r shAll pay
<br /> ta l.ender cu�the day man�hly p�yments uc due under the Note,until the Note is paid in full.a sum("Funds")equal to
<br /> one-twrelRh of: (�}yarly uxES and assessments which m�y utain priority over this Security Instrument; {b) ye�rly
<br /> la�ehold paymrnts ot �round ronts o� the Property� if any; (ca yearly hazard insurance Premiums; and (d) yairly
<br /> mortp�e insurance prnmiums,if�ny.Theae items are cailted•'escrow items."Lender may estimate the Funds due on the
<br /> basis of cumnt data snd reasonable atimates of future escrow items.
<br /> � T'he Funds shall be held in an lnstitution the deposits or accounts of which are insured or guaranteed by a fedtrrl or
<br /> •tate s�ency(includin�Lrnder if I.ender is such tn institution). I.ender shall apply the Funds tQ pay the escrow items.
<br /> l.eeder may not chsr�e tor 6oldina�nd�pplying the Funds,analyzing the account or verifying the escrow items,uniess
<br /> I.en�tr p�ys Bono�er interat on the Funds and appl�cable law permits Lender to make such a charge. Horrower and
<br /> I.ender nuy aane in writina that interest ahall be ptad on the Funds. Unless sn agrament is msde or applicable lsw
<br /> requira interat to be paid, Lender�hall not be required to psy Horrower any intertst or airnings on the Funds. Lender
<br /> shall�ive to Borrower,without charge,an annual�ccounting of the Funds showing credits and debits to the Funds and the
<br /> pur�for w►hich ach debit to the Funds wu mide.The Funds ue pledged as additional security for ihe sums secured by
<br /> thi�5acurtty Instrumrnt.
<br /> • If the amount of the Funds held by Lender�togethet with the fnture monthly psymcnts of Funds payable prior to
<br /> � :ue��ie u�io oi ihe essrow iiems.snail ea�ceon the amouat required to pay the escrow items when due,the eacess shali be,
<br /> �t Borrow�er's optian,either promptly repaid to Borrower or credited to Borrower on monthly payments os Funds.If the
<br /> � amount of the Funds held by 1.er�der is not sulHcient to pay the escrow items when due.Borrower shsll psy to Lender any
<br /> amount neopsuy to make up the deflciency in one or more payments as required by Lender.
<br /> . Upon payment in full of a11 sums secured by this Security Instrument.Lender shAll promptly refund to Borrower
<br /> any Fund�heW by Lender.l�'under pstagnph 19 the Property is sold or acquired by L.ender.l.ender shall apply.no luer
<br /> thati immediately prior to the salr of tht Pmperty or its acquisition by Lender, any Funds held by Lender at the time oP
<br /> appUcation�s a credit sgsinst the sums securea by this Security Instrument.
<br /> 3. ANliat�ou ot Paysenb. Unless applicable law Qrovides otherwise.all pnyments received by Lender under
<br /> � para�raphs 1 u�d 2 ahall be applied:flrst,to lue charges due under the aVote;second,to prepayment charges due under the � .
<br /> 2�Iotr,third,ta amaunts psysble under pangnph 2;fourih,to intcrest due;and last,to principal due. ,
<br /> �. �arye�IJeiu. 8omower shall pay all wces,auessments,chuges,fines and impositions�ttributable to the
<br /> Property Mhich may atuin priority,over this Sacurity lnstrumrnt, and leasehold payments or ground rents, if any.
<br /> - - 1�orro�v�r shai!pay tAae obligstions in the manner provided in paragraph 2,or if not paid in that manner.Borrower shall ;
<br /> psy them on time dirxtly to the person ow�ed payment.Bonower shall promptly furnish to Lender all notices of amounts '
<br /> to be paid under this parasraph.If Horrower makes these payments directly. Bonower shall promptly fumish to Lender
<br /> receipts evideacing the payments.
<br /> Botroaer shaU promptly diacharge any lien which hu prioriry over this Security lnstrument unless Borrower.(a) -
<br /> a�rees in�vritin=to the payment of the obligation secured by the lim in a manaer acceptable to Lender;(b)contests in good �-�
<br /> faith the lirn by,or defrnds againat enforcement of the lien in,legal proceedings w�hich in the Lender's opinion operate to ?P-
<br /> prevent the enforcement of the lien or forfeiture of any part of the Property;or(c)socara from the halder of the lien an •i �
<br /> aat�anrent satisfictory to Lender subordinating the Iien to this Security lnstrument.If Lender determines that any part of �,�
<br /> the Ptuperty is subject to a lien which ms�y attain priority over this Secnrity Instrument, Lender may give Bo�trower a
<br /> notia idrntifying the lirn.Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br /> . of the giving of notice.
<br /> S. Ha�ard Iawrance. Borrower shall kap the improvements now eaisting or hereafter erected on the Property
<br /> insured aEainst loss by fire,hanrds included within the term"eatended coverage"and any other ha�rds for which Lend�r �
<br /> noquires insurance. ?his inaururce shall be maintained in the amounts and for the periods that Lender requires. The
<br /> inaurance curier pmviding the insurance shaU be chosen by Hosroaer subject to Lcnder's approval which shall not be
<br /> unre�onably withheld.
<br /> AU insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage c�ause. #
<br /> Lender shall have the right to hold the policies and renewals.If Lender requires, Barrower shall promptly give to Lender
<br /> all receipts of paid premiums and renewal notices.In the evont of loss,Borrower shall give prompt notice to the insurance ,
<br /> carrier utd Lender.Lender may make proof of loss if not made promptly by Borrower.
<br /> Unless Lender and Borrowtf otherwise agra in writing,insurance proceeds shall be applied to restoration or repair
<br /> of the Property damagod,if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br /> resWrstion or rcpair is nat econamically fcasible or Lender's security wauld be ls.ssened, the insurance proceeds shail be
<br /> sppfied to the sums secnred by this Security Instrument,whether or not then due.with any eacess paid to Borrawer.lf
<br /> Borrower abandons the Prnperty,or does not answer within 30 days a notice from Lender that the insurance camer has
<br /> offtred to settle a claim.then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br /> the Properiy or to pay sums secured by this Security lnstrument, whether or not thrn due.The 30-day period wiU begin
<br /> when the notice is given.
<br /> Unless I.ender and Borrower otherwise agree in writing,any application of proceeds to principal shall not eatend or
<br /> postpone the due date of the mon4hly payments referred to in paragraphs 1 an�2 or change the amount of the payments.lf
<br /> under parsgraph 19 the Property is acquired by Lender.Bonower's right to any�nsurance policies and prc�ceeds result�ng
<br /> from�amage to the Property prior to the acquisition shatl pnss to i.ender to the extent of the sums secured by this Secun►y _ ______
<br /> Instrument immediately prior to the acquisition. "
<br /> 6. Presenatton and Maintenance otPropert�;I,ezseholds. Borrow�r shall not destroy,damage or substantially
<br /> change the Property.allow the Property to deteriorate or commit waste. lf th�s Security Instrum�nt is on a leasehold,
<br /> Borrower shal)comply with the provisions of the lease,and if Borrower acquires fee title to the Property,the leasehold and
<br /> , fee title shall not merge unitss Lender agrees to thc mcrger in writmg.
<br /> 7. Protection of Lender•a Rights in the Property: Mortgage Insuranre. If Borrower fa�is to p�rform the M�
<br /> covenants and agreements eontained in this Secunty Instrument,or there is a legaJ proceed�ng that may sigmficantly a(fect .
<br /> � Lender's rights in the Property (such as a proceed�rtg �n bankruptcy, probate, for condemnat�on or to enforce laws or �
<br /> regulations),then Lendet may da and pay for whatever is necessary to protect the value af the Property and Lender's nghts 3.
<br /> in the Property. I.endet's act�ons m�y include paym�any surris secured by a I�en WFifCF! F135 �TtO�tly' 04CI IFliS �CC11:�1y �f-��
<br /> Instrumtnt,appearing in court,paying reasonable attorneys'fees and entenng on the Property t�make re�a�rs Alth�ugh �
<br /> l,ender may take actinn under th�s paragraph 7, Lender dces not ha�e to dc►so �
<br /> Any amvuntsd�sbursed by Lender under th�s patagraph 7 shall bec�me adci�t�nnal deM��f Rnrmwer tiecured by thit �
<br /> 3ecunty Instrument. Unless Borrower and I.ender agree to�ther terms of�ayment, thcse amounts�hall hear mtrretit frcmi
<br /> the date of d�sbursemcnt at thc Note rate and shall be pa�•able, with interetit. up<m noUre fn�m 1 ender tc� li��rr��ucr
<br /> tequestmg payment
<br /> ____J
<br />
|