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UNIFORMCOVENA%TS' Borrower andLender covenant and agree asfollows: 89- 101724
<br />I. Payment of Principal and Interest. Preptiyment and Late Charges. Borrower shall promptly pay when due
<br />the principal ofand interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds 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 />ont- 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; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data andreasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or gwanteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying ;the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such ,,a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is:made or applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and titbits 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 e.£ 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 whm due, the excess shall be.
<br />at Borrower's option, either'gtr.,mpdy repaid to Borrower or credited so Borrower on monthly payments, of Funds. If the
<br />'amount of the Funds held by f t3tx is not sufficient to pay a ie escrow items when due, Borrowe$ shMA pray to Lender any
<br />amount necessary to make up tl:e ,�15ency in one or mom nt.gents as required by Leader.
<br />Upon payment in full of aril sums secured by this Sa ~ iijy Instrument, Lender shall prG=,, wy refund to Borrower
<br />any Funds held by Lund#. If under. paragraph N the Property is sold oc acquired by Lender, I,erader•shall apply, no later
<br />than immediately pr ar to the s.-In of the Property or its ac. itisition i:y Lender. any Funds held+lny Lender. at the time of
<br />application as a credit against ti=sut,_:s secured by this Secom;y Instrument.
<br />3. Application RIP Pxyibr� , Unless applicable r <!rernise; alI payments received by Lm-der under
<br />paragraphs 1 and 2 srr3 , be applsad: first, to late charges due under the'�,;r_e: second, to prepayment charges due under the
<br />Note; third, to amour..s payable under paragraph 2; fourth; to interwvi�u. °; and last, to principal di=e.
<br />4. Charges; Liens. Born wer shall ga-Y all taxes. assessmerl:s. 'barges. fines and impositions attributable to t1k
<br />Property which may attain 1111.43n zi.over this Security rmstrument. and leasehold payments or ground rents. if any.
<br />Borrower shall pay these obliga *iNa a ;n the matter .'. »a . i n paragraph 2, or if not paid in tt m manner, Borrower shall
<br />pay them on time directly to the �.•�on owed p.,'Lr . ^a: tRi :rr. rowcr shall promptly furnish to Lender all notices of amounts
<br />to be paid under tl-.i i, Oxagraph. 1 Borrower mikes these Borrower shall promptly furnish to Lender
<br />receipts evidencing1lmp ayments
<br />Borrower ski !''.promptiv'�i :i4.c#targe any lien which hai. priority over this Security Instrument unless. lar_.ower. (a)
<br />agrees in writing to the payment r_:1"! rte obligation secured by r.: w lien in a manner acceptable to Lender; (b) rcinfeh:s in good
<br />faith the lien by. or defends against enforcement of the lien'in, legal proceedings which in the Lender's opircis3it 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 ;-i>,ich may attain priority over this Security Instrument, Leader may grls-e Borrower a
<br />notice identifying the lien. Borrowiwshall satisfy ll ;e NXI rr rake one or more of the ac=tions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shalf k :* -=� the improvements now existing or hereafttie crested on the Property
<br />insured against loss by fire, hazards included wrilm the term "extended (x veragc" and any otheilxa;ards for which Lender
<br />requires insurance. This insurance shall be —maintained it the amounts and for the periods than Lender requires. Tltr,,
<br />insuranc ee carrier providing the insurance shall be chosen liy. Borrower subject to Lender's approval which shall not be
<br />unrca�;omMy withheld.
<br />Ali insurance liotieies and renewals shall be acceptable toltcaidiir and shall include a standard mortgage clause_
<br />r , + Lender shall have the right to he.w the policies and renewals: If La w:r mquires, Borrower %hall promptly give to Lender
<br />all receipa of paid premiums and rorrewal notices. In the event of loss; iorrower shall give prompt notice to the insurance
<br />carrier utd Lender. Lender may iiiA. proof of loss if not made promptly by Borrower.
<br />.
<br />Unless Lender and Borrower• otherwise agree in writing, insurance proceeds =,h=all be appli "ecita restoration or repair
<br />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 l,ender.'s security would be lessened, the iwwnance proceeds shall he
<br />appli_d to the sums secured by this Security Instrument. whether or not then due, with any o,,,_,oss paid ter' Borrower. If
<br />Borroa►rxni:andons the Property. or does not answer wiihiir 30 days a notice from Lender that 0..-: insurance carrier has
<br />offered to Nctrle a claim, then Lender may collect the insurance proceeds. Lender rray use the pros.�h fn repair or restore
<br />the Property or to fray sums secured by this Security l rtsirument, whether or not Aer, due. Th: � period will begin
<br />when the notice is given.
<br />Unless Under and Borrower otherwise agree lit writing, any application of psoreeds to priniit al shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the arnocra of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance pofide5 and proceed% resulting
<br />from damage to the Prctlierty prior to the acquisition shall pass to Lender to the extent cif the sum~ sec urea by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower Shall not debt rUy. damage or suhstantially
<br />change the Property, allow the Property io deteriorate or commit waste. If this Security Irntrurr.ent is art a leasehold,
<br />Borrower shall comply urth the provis►ons of the lease. arid if Borrower acquires fee litle to th:- Prork!rty, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger to writing
<br />7. Protection of Lender's Rights in the Property; MortgaKe insurance. if ilorrm %cr fails to perform the
<br />cownantsand agreements contained lit this ScL unty litstruntent. rtr there is a legal proceedma that r,1 sy st.n ift.;tnth affect
<br />Lend.-r'% rights in the. Property (such as a proccedinF in bankruptcy. probate. for condemnation,or tai cr.hor_c laws (-r
<br />regulatic +nc). then Lender may do aiid pay far %hate%er is necessare, tr, protect the salve of the Propal t m J I emler's clam,
<br />in the Property Letder's a=tions ►nay ut.lude paging ant sum~ tit: ::ured b% e Len which owr tht. 5.cut-O"
<br />Instrument, appearnig irtll+tirt, ra-wig, rcaso :I.Ihlc Attur fees and enter inaon the Property ts, a AA � rrp•rr, Nltttrueh
<br />i- etider may take action under this Car,tsr<tph 7.1 elydcr does net hale to do so
<br />Any 1 coder unict ih;,. paragraph 7 shalt heci.tne eddtt: mal cleh� of if, ^tr>nes rurc:f ny t'7i�.
<br />Se,urwy Instrument It tiles lf+,rtowcr :alit 1 :•tidcr satce to other teems cat t`.t lTllt. .trn:
<br />the il.ste of lit a:,tltr '%ulc rite ;end %n -111 fie r+y.ihlc. %% rh Interest, u,Pa r,; ti,r tr. ' t .i !:; h :. }(. wl
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