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<br />101570
<br />UNIFORM COVENASTS Borrouer and Lender covenant and agree asfollows:
<br />1. Payment of Principal and Interest; Ptaepsyment and Late Charges, Borrower shall promptly pay when due
<br />the principal ofand interest on i he debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. t:undt 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 full, a sum ("Funds") equal to
<br />one - twelfth of. (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />4easehold payments or ground rents an the Property, if any; (e) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premium%, if any These items are called, "escrow items." Lender may estimate thq F-.uR ls' iiae:on the
<br />basis ofcurrent data and reasonable estimates of future escrow items.
<br />The Funds Shall k- held in an institution the deposits or accounts of which are insured or guaranted4by.4 ;fe feral or
<br />state agency (including Lender if Leader is such an intiittition), $:ender shall apply the Funds to'pay.tlie es¢ixirwl terns.
<br />Leader may not charge for holding and applying the Funds,.ana�. $ the.,accotuit or verifying ti;ecaurow itedi" ' unless
<br />Lender pays Burrowetr interest tilt the Funds and applicable law pe as_?Lezi"d td make such Ai6irge_ Borrower - and
<br />Lender may agree in writing that interest shall be paid on the Funds ;ljiile :an•3igtemenrwt,inade.or applical le'law:
<br />requires interest to be paint, Lender shall not be required to pay Borrower any io" 1 or. emings orl'ttca:Fun'6.:I.
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing reedits and debits to the hunds: aiid 2'ie
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<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the hums secured lay :
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<br />this Security Instrument.
<br />If the amount of the Funds field by Lender, together with the future monthly payments of Funds payable prior is
<br />the due dates of the escrow items, shall exceed the amount required to pay4he es6aw items when due, the excess shall Ne
<br />at Borrower's Gption, either promptly repaid tr► Borrower or credited to Bormbwar on monthly payments of Funds:Jly ui'e
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<br />amount of the Funds held by Lender is not sufficient to pay the escrow items wHen due; Borrower, shall spay to L:eiicls'?r any
<br />amount necessary to makeup the deficiency in one or more payments as requitVd•by Lender,
<br />Upon payment in full of all Sums secured by this Security Instrumeni;'.Lender shall promptly ref ind'to Borrower
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<br />any Funds held by Lender. If under paragraph 19 the Property is sold oracq4ra&by tender, Lender shall'apply. no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security instrument.
<br />& Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs i and 2 shall be applied: first. to late charges due under the Note;:secorril, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2, fourth, tto interest due; and,lasli to principal duct.
<br />4. Charges; Liens. Harrower shall pay all lanes, ;assessments, charges, fines and 'impositions attributable tai :ahe
<br />Property which may attain priority river this Security Instrument. and leasehold, pry'meno, or. ground rents, .if any.
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<br />Borrower shall pay these obligations in the manner provided ui paragraph 2. or Wool paid in- that- manner,.BorrouersbA
<br />pay them on time directly to the percrin owed payment. Borrower shall promptly. furnish -to Lender all'noticea ofamaunts
<br />to be paid under this paragraph. if Borrower makes iticwe p.synirnts directly, Borrower, shall promptly fermis°. to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which tins priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation sutured by the lien ur a manner acceptable to Lender; (h) contests in good
<br />faith the lien by. or defends against enforcemetu'uf the lien nr, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of arty purr of the Property; or (c)-wcures from the holder n €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 Instrumenti Lender. may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take tine or rntoTC of illit antiuns set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insu sace. Borrower shall ke:p the improvements now exit,ti irotrhereafter erected on the Property
<br />insured against loss by fire, hazards included within the terra "extended coverage''and'any ether hazard& far -which Lender
<br />requires insurance. This insurance shall be maintained in Use amounts and for the periods that Lender, requires. The
<br />insurance carrier providing the insurance shall he chosen by Burrower subject to Lender's approval which shu;12 -no be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be accepttrhle to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies arid renewals If I.cpater requires. Borrower shtrlliprompiiygive to Lender
<br />all receipts of paid premiums and renewal notice:. In the event of loss. Ilorruwer shall give punnet armtice m the inyu:mnce
<br />carrier and Lender. Lender may make proof of hiss if ntrt made pronipil% I by Ilorrtower.
<br />Unless Lender and Burrower otherwise agree nr writing. rnsuran, a hruectits shall be appNhd to remaration as repair
<br />of the Property damaged, if the restoration or repair is econoinicilly feasible and Lender's security is lessen.d. Cf
<br />not the
<br />restoration or repair is not economically feasible err bender's security w,tild he lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrattuenl, whether err nit then clue, with any exams paia to Borrower. If
<br />Borrower abandons the Property. or dues not auswcr within .311 day% it antics• from (.ender thhisthe itucv:ralWC career has
<br />offered to settle a claim. then Lender may collect the insurance prtweeds Vender may use the proceeds t:a repair (IT rnstore
<br />the Property or to pay sums secured by this Security Instrument, whether ter not then tine. The 30+day iperawa wi?l begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree iu w ruurg. any ,grphuarutu of prrxceds to principal :,hull'n.ot zxtesd-J or
<br />postpone the due date of the monthly payments referred to in paragraphs t and 2 or clratige the amount -of ,fiv p2yntrwi,s if
<br />under paragraph 19 the Property rs acquired by Lender. Horrtmer's tight lowly insurance policies and prcore;vd-, iesu'tung
<br />from damagcto the Property prior to the acquisition shall pas; to Lender rte the extent of the sumt seculed-by t .is security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Iturruwer shat! reset destroy, damt:rror sra�+s��ntially
<br />change the Property, allow the Property to deteriorate or ctiuonut waste If this Sc'rorrty Inttrunient ir: nu ct �a �srliold,
<br />Borrower shall comply with the provistons of the lease, and if We talc• art it he Property, the 1&tsehold and
<br />fee title shall not merge unless Lender agrees it Ilie noerger ur teat mg-
<br />• 7. Protection of Lender's Rights in the Property; 1lorlpiw Insurance, it lirrrlower falls to p:rfr,rin the
<br />covenantsand agrcerrientscontained in thissecunty Instrument. t+r rlsere 1..l lcr.rl I'loo,fAll y rlsat nray .nAnrfievuly' affect
<br />Lenders rights to the Property (such as ;l proceeding m bankruptcy, lot
<br />pnthatr, t t.TltI,•rlolation of to enforce h ass or
<br />rcgul$ iicass), sheerIxntilcr only do and pay forwharcterrsnecew ;nay tttprtltt•t i i1w,Atleof tilt" Puyrt•rty anti l.entict srr1his
<br />in the Property. Lender %actrnm may emirate paying any rune" reeled h; a 114'11 ohst h less Ureter} of r ifih� Stviinty
<br />Instrument. appearing mcourt. pa%mg reasonableannritey.' fees l's.
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<br />;►utic nerrnIt Iv, the 1•: tit t. rn.ri r rrpaur .f111hnu1;h
<br />Lender may take uctitw widerthrcparagraph 7. Lender does not lyatettt eft,,
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<br />Any amounts dcshumed be Lender under tht', paragraph 7 .h;III tic, nor .,,l,I�n,,n,,tt dcPtt . t It rnn.tr .%cried tit' ill!
<br />Stcurrty lnstrumeru t'nit•.s l3nrrnwer alld I Cildvr agive togeher terra, t if 11"'i, lilt shirr ,o,ll,,ants .h.tll ht•,r, lnrtttva'fror,
<br />the stare of ditbie"cnia'rit at th(• Note r.t!c and .li,111 tar 11;1% ; ll1c. s,th 11ttcn •.t. ul .•11 rr.•rn r hunt t coder h= 111ucrosct.
<br />requesting payment
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