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89-- -. :101739
<br />I: NIFORM Cot: ENANTS. Burrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal of and 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 />Instrument;
<br />one4welfth of: (a) yearly taxes and assessments which may attain priority over this Security (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 and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed 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 Lenti;:w,isv make such a char:. Strrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless ;iii agteemept. is made ,0r.- a,y^;.r1jvabk. I;tiv
<br />requires interest to be paid, Lender shall not be required to pay Bor a�>�r�� im =erest or m� m-Lgs on M 1``s ad_TQ'.-,, per
<br />shall give to Borrower, without charge, an annual accounting of the Fv r,�3ss� t credits afid:del�its tQ -- F;=ds at�d tee
<br />purpose for which each debit .tYLL die Funds was made. Thu Funds are pledgi�;:�ti,�zfditional security for t�� "-,� sw::rg�Cby
<br />t� Security Instrrument.
<br />If the of the Fz�&.held;by Lender, together with the future, ;;a. ,?tly payments of Funds payable rg, i-T c to
<br />e dates or ?.9 -& escrow its, shall exceed the amount required to pay tk �.,srow items when due, the excess shA. bz,
<br />�t W)itrower's option, either ^.r'�rnptly repaid to Borrower or credited to Bc:^ �;i on monthly paymer C> Fun l`f the
<br />i s -of the Funds held by lender is not sufficient to pay the .stk^ due. Borrower shall p v..to Leii4� •any
<br />ra!k# note sar)r.to make up the deficiency in one or more payments as r arced by Lender.
<br />Upon; Ia>i ,� eni in full of all sums secured by this Sep urity l , �t.,,.�-;ttent, Lender shalfi promptly refund to B�:- iwer
<br />any Funds held i-y Lender. F'' under paragraph 19 the Property is sr-hi ' ci acquired by Lgr;i=: Lender shall apply, nc•Iater
<br />than immediately prior to Y. Sale of the Property or its acquisition !u -° a ..emu Fu. ; Geld by Lender at the time of
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<br />application as a credit agair.-6a v!ie sums secured by this Security Instrut mp- .
<br />3. Application of Ptity-inents. Unless applicable law provides other Na. al: payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; scond, to prepayment charges due under the
<br />Note; third, to areal ants payable under paragraph 2; fourth, to interest due; anal last, to principal due.
<br />4. Manj-x Liens. Borrower shall pay all taxes, assessments, charges. , fines and impositions attributable to the
<br />Property which. —may attain priority•over this Security Instrument, and le*,adtold payments or ground rents. if any.
<br />Hern -wer sha I." ay these obligations in the manner provided in para ph 2: ii; if not paid in that manner, Borrower shall
<br />pay ti=n = tf; cfstrectly to the person owed payment. Borrower 41 al promptly furnish ta• Lender all notices of amcunts
<br />v be,pz;i'd t ndir tirx;. paragraph. If Borrower makes these payments directly, Borrower shAl promptly furnish to i+r:rtder
<br />s:;r�s =dettVa�; the payments.
<br />Borrower shall) promptly discharge any lien which has priority over thi.�, Security l it.rument 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 gtccd
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate ta,
<br />prevent the enf: rcement of the lien or forfeiture of any part of the Property; or (c) secures.fn.m the holder of the lien an:
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any partc•f
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Eermowur a
<br />nonce, identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within Ir, •days
<br />of the giving Q',zotice.
<br />S. Ham-d Insurance. Borrower shall keep the improvements nnw existing or he erected on 11,10 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 Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall'be acceptable to Lender and dull include, a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Under requires, lji�.rrc�,i�,t ;hall promptly give to Lender
<br />a'l reripts of paid premiums and renewal notices. In the c .e nt tTloss. Borrower sN;11 g ,; � prompt notice to the insurance
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<br />cerriu• and Lender. Lender may make proof of loss if not wtalte promptly by Borrower.
<br />Unless Ixnder and Borrower otherwise agree in n r;t.ntr, in urance proceeds shall I-eaoplied to restoration or repair
<br />of the Property &-tmaged, if the restoration or repair is econemically feasible and Lender'. ±i_curity is not lessened. if the
<br />restoration or rttpair is not economically feasible or lender's ir would be lessened, the insurance proceeds shall be
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<br />ap l�sd to the sums secured h;,;; this Security Instrurnen t, whether I.4 not then due, with any excess paid to Borrower. if
<br />8,1rro; -fcr abandons the Prrirerzy, or does net an -,Nvar arithin 30 days a notice front Lender that the insurance carrier has
<br />c.rlNrrt zo settle a claim, there Lender .7m-. irlmnance proceeds. ! -rider may use the proceeds to repair or restore
<br />the Property or to pay sums secured ba Instrument, whether or not then dui. The 30-day period wilt begin
<br />%hen the raozice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of procevAis to {principal shall not extend or
<br />ry.^Ilwne the due date of the monthly payments refert'ed to in paragraphs 1 and 2 or chap 4pm he am_runt of the payments. If
<br />unom paragraph 19 the Property is acquired by Lender. Borrowers right to any insurance policies ajti proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the Sums segued by this Security
<br />instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrover shalt 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 />Sorrower shall comply with the provisions of the lease, and if Borrower acquires fec title io the Property, the leasehold 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. 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 significanih affect
<br />Lender's nybts in the Property (such as a proceeding in bankruptcy. probate. for condemnation nr to enforce lave, err
<br />regulations), then Lender may do and pay for whatever is necessary to protect the salue of the Property and Lender's right
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has prionty over this Sccuruy
<br />Instrument, appearing in court, paying reasonable attorneys fees and entering on the Prelperty to make repairs Alihonig•h
<br />Lender may take action under this paragraph 7. Lender does not have tc, do so
<br />Any amoutrts di%burscd by 1 ender under this paragraph 7 hall beconic additional debt of Normuer secured by th-,
<br />Security Instrument Unleti4. lforro%%er and i ender agree toother terms of pasrnent. these aniouut,- Qmll Itiar u:tercm frorn
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<br />the date of dtshurwi ncnr at the Ntite rite and ,frail he payahlc. •tn•fr int•_re.t. IT OD n. U r from 1 diner io W, -to%% •r
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