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<br />89-' 101625
<br />UK*V1tM CovENAM'& Borrowerand Lendercovenant and agree as follows:
<br />L Payoeat.of PdsciiW cad Ltereat* Prepayaaeat a" Late G'harges. Borrower shall pmmptll*-V*y when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due undesthe Note.
<br />2. Faads for Taxes sad Iawraisce. Subject to applicable law or to a written waiver by Lender, Bermwer 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 />leasehold payments or ground rents on the Property, if any; (cLl yearly hazard insurance premiums, and (d). yearly
<br />mort&e insurance premiums, if any. These items are called "esc;ifiems." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items:: ,;
<br />The Funds shall be held in an institution the deposits or accouniL* oOwhich are insured or guaranteed bya federal or
<br />state agency (including Lender if Lander is such an institution). Lender shall apply the Funds to pay, the ewrow item.
<br />I.alder may not charge for holding and applying the Funds, analyzing the account or verifying the ecrow-ittans, unless
<br />Lander pays Borrower interest on the Funds and applicable law permits Lender to make such a charge: Burrower and
<br />Leader'
<br />MY agree m wrung that interest shall be pad on the Funds. Unless an agreement is made.cr applicable law
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interestoreamings on tho Funds. Lander
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credim and debits to she Funds" the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additicilzl surity fqr, the sums secured by `
<br />this Security Instrument.
<br />If the amount of the Fund; :held by Leader, together with the future monthly pa<,ymenta c ands payable prior to
<br />the due dates of the escrow items, shall exceed tbe: amount required to pay the escrow iruims whir dice. the excess shall be;
<br />t Bono es' 'then tl
<br />a w s opuorn. n promp y repaid tut Marower or credited to Borrower an m»>l=y p rents of Funds. If the ;
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due;;l3` 'gower shall pay to LkWer any `
<br />amount to make up the deficiency in one or more payments as required by L,aJ4k :
<br />Uponrtyment in full of all stains secured try this Security Instrument, Lender stia8 promptly refund:: grower:
<br />any Funds held by Lander. If under paragraph 10 the Property is sold or acquired by Leiiderjecde4 shall apply. no later
<br />than immediately poor to the sale of the Prapeatpt.flr its acquisition by Lender, any Funds:he.ld V:ic,g2;uder. at th- e,time of
<br />application as a credit against the sums secured this Security Instrument. .. ' . - .
<br />3. Applialke of Paynnsits. Unless applicable law provides otherwise, all payments recjvi by L• aru,,rc ruder
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepsymercE'✓ =5%&ets -ider the.
<br />Note; third, to amounts payable under paragraph Z'; fourth, to interest due; and last, to principal dice .
<br />4. Cksww Llem Borrower shall pay jR taxes, assessments, charges, fines and imposisTi`.YtYG tattributabte to the
<br />.Property which may attain priority, over this Secraity Instrument, and leasehold payments cc,g=ound rents, .if any.
<br />Borrower shall pay these obligations in the marmer provided in paragraph 2, or if not paid in thi1. murner, Borrower shall
<br />pity them on time directly to the person owed pa�'.'M` nt. Borrower shall promptly furribli to Lernerall notices of amounts
<br />to be paid under this paragraph. If Borrower niak-es these payments directly. Borrower shall promptly furnish to Lender
<br />teceipa evideming the payments.
<br />Borrower shall promptly discharge any lien which 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 of the Property; or (c) secures from the holder 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
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 14 days
<br />of the giving of notice.
<br />S. I surd Insurance. Rama ver shall ket p the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards iticiuded withimhe term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance £hall be ravintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the inturance shall be chosen by Borrower subjwt! to Lender's approval which shall not be
<br />unreasonably withheld.
<br />Ail insurance policies and renewals shall be acceptable to Lender and :shall include a standard mortgage clause.
<br />Lender shat( have the right to hold the policies and renewals. If Lender mquimc, Borrower shall prcmptly give to Lender
<br />all receipts afpaid premiums and renewal noticcL. In the event of lass. Burrower shall give prompt ni-tre to the insurance
<br />carrier anrtLeitder. Lender may make proof of toss if not made promptly by Borrower.
<br />Uniesa Lender and Borrower allu rwise agree in writing, insurance proceeds shall be applied to reatiwa0x -cr repair
<br />of the Property damaged. if the resturaion or repair is econamit:allly +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 shall be
<br />applied to the sums secured by this Security IIniirument, whether or not then due. with any excen paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within, 34 days a notice from Lender that the insurance carrier has
<br />offend to settle a claim. then Lender may collect the insuratim proceeds. Lender may u%- the proraeL to repair or restore
<br />the Property or to pay sums secured by this Security Instnims,- rta.whether or not then due. The 30-4Uy period will begin
<br />when the nwtice is given.
<br />Vale% Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone t]terdue date of the monthly payments referred 2a in Varagraphs 1 and 2 or change the amount cf the payments. If
<br />tinder pan#Vh 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 this Security
<br />Instrument immediately prior tothe acquisition.
<br />6. Praenation and Malatenaace of Properjy; Leaseholds. Borrower shall not destroy. damage or substantially
<br />change the Property. allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold.
<br />Borrower shall 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 unless Lender agrees to the merger in writing,
<br />7. Protaetloa of Imider's Rights is the Property; Mortgage Insurance. if Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument. or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy. probate. for condemnation or to enforce lards or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although
<br />Lender may takeaction under this paragraph 7. Lender does not havdto do see
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and bender agree to other teil4Mi of payment, these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower
<br />requesting payment.
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