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89-- -. 101848
<br />UNIFORM COVENANTS. Borrowgt and Lender covenant and agree as follows:
<br />1. fttt ym at of Peladptt ad talneg; Ptegaytaeat tad Lak Clttarga. Borrower shall promptly pay when due the
<br />principal of and interest on the deM eidenad by the Note autd any prepayment and late charges due under. the None.,.
<br />2. Foe& for Tana rand i maoace. Subject to applicable law or to a written waiver by Lender. Borrower shall. pay .ta
<br />i Lender on the day monthly payments are due under the Note. until the Note is paid in full. a sum C'Funds ") wal to are-.
<br />twelfth of: (a) yearly taxes and assessments which may attain priority over this Security lnsU=ent; (b) yearly teasebala
<br />payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance
<br />premiums. if any. These items are called "escrow items." Lender may estimate the Funds due on the basis of current data
<br />and reasonable estimates of future escrow items.
<br />i 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 meets. Leader:
<br />may not charge for holding and applying the Funds. analyzing the account or verifying the escrow items, unless Lender pays
<br />i Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may atgree In'
<br />writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be "raid,
<br />t Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower,, willmut
<br />charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose far which each did616,
<br />the Funds was made. The Funds are pledged as additional security for the sums secured by this Security lustmuatent.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable paiAt trT` 1 ..
<br />1 due dates of the escrow items, shall exceed the amount required to pay the escrow item`s when due. the excess shall ;>tr .et
<br />Borrower's option. either promptly repaid to Borrower or credited on monthly payments of Funds. If the amauji'061he
<br />Funds held by Lender, is not sufficient to pay the escrow items when due, Borrower shall pay to Lender. azti*j :auicaht
<br />necessary to make up the deficiency in one or more payments as required .by. Lender.
<br />Upon payment in full of all sums secured by this Security instrument, Lender shall promptly refund t6 Borrower any
<br />Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall amply, no- later than
<br />immediarr.Iy prior to the sale of the Property or its acquisition by Lender. any Funds held by tender at the time of
<br />j application as a credit against the sums secured by this Security Instrument. :
<br />3. Appgeatfoa of Paywals. Unless applicable law provides otherwise. all payments rcev+ed by Lender under
<br />i paragraphs I and 2 shall. be applied: first, to tat,: dramas. &e under the Nat,;; second. to prepayment charges due under the
<br />t Dote; third. to amoums -payable- under paragraph. i; f -wth, to interest dues and last.., to principal duo.
<br />: 4. Qsatges: &,Mwe� shall pay all taxes. as:�rnents. chsrsnges, f'A mtef impositions attributabtc to the
<br />property wlsich maylattauy..tiriprEty aver this Security Instrument. and teamheld payments era ground rents, if any.. A'arrower
<br />iball pay tluse obligations' in the grander provided in paragraph 2. or if not {laid in that manner, Borrower shall pay, ahem on
<br />! time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under
<br />this paragraph. if Borrower makes these payments directly. Borrower shall promptly furnish to Lender receipts evidencing the
<br />paymeaM, '
<br />idrrtxa w-.r sbsll promptly ditzhargr any lien which has prioni:y over this Security Instrument unless Borrower: (yi) agrees
<br />in writing ta- die pa,pnvap of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith
<br />the lien by, or defeu%agtzirtst enfcs'rcment of the lien in. legal proceedings which in the Lender's epWon operate to prevent
<br />the enforcement of tits firm of forf�'vrre of any part of the Property; or (cy secures from the holder of Oic lien'an agreement.
<br />�:atisfactasry .o Lender subordin", g the lien to this Security instrument. if Lender determines that rani. part of the t2rcoerty is , '
<br />7—arjed ICI w lien which may attain Oasrity over this Security Instrument. Lender may give Borrower a notice idetsrif g the
<br />Caen. Be. rmvv r shall satisfy the lien or take one or more of the actions set forth above within 10 da;+s cf the giving of notice.
<br />S. Nauard lasersace. Borrower shall keep the improvements now cxiitxsng or hereafter erected nn. the Property insured
<br />against loss by fire, hazards included within the term "extended coverWI!:aid any other hazards fate wtuch Lender requires .
<br />insurance. This insurance shall be maintained in the amounts and for Lhe rerlods that Lender requires. The insum" Mrr}:c
<br />providing the insurance shall be chosen by Borrower subject to Lender's &;,proval which shall not be unreasonatl,x ;,V lk�Ai.
<br />All insurance pcHcies and renewals shall be a c"ble to Lender and •shall include a standard mortgage claw. Le:/-ec
<br />shall have the tight to hold the policies and renewals. if Lender requires. Elarrower shall promptly glut to Lender a;l recei ;xs
<br />of paid premiums and renewal notices. in the e'onna of loss, Borrower shall give prompt notice to tbe insurance carrier and
<br />Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration ar repair of
<br />the Property damaged, if the reg.-aration or repair is economically 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 insunirce proceeds shall be
<br />applied to the sum secured by this Security instrument, whether or not then due. with any excess paid to Borrower. If
<br />Borrower abandons the Property. or does not answer within 11) days a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair ar restore
<br />the Property or to pay sums secured by this Security instrument, whether or not then due. The 30-day period will begin when
<br />the notice is given.
<br />Unless Lender and Borrower otherwise agrto in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments ret:md to in paragraphs 1 and 2 or change the arr.cwt of the payments. if
<br />under paragraph 19 the Property it acquired by Lender, Borrower's right to any insurance policies v.d proceeda resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by 5hi'5 Security
<br />Instrument immediately prior to the acquisition.
<br />6. I*mrvation sad Malattsaace of Property; Leaseholds. Borrower shall not destroy, damage or substantially change
<br />the Property, allow the Property to deteriorate or commit waste. If this Sftwrity Instrument is on a leasehold. Elonower shad
<br />comply with the provisions of the lesise. and if Borrower acquires fee title to the Property, the leasehold and fee tide shall not
<br />merge unless Lender agrees to the merger in writing.
<br />7. Froteetles of Lea/et's Rights ice the Property; Mortgage iasaraace, if Borrower fails to perform the covenants and,
<br />agreements contained in this Security instrument, or there is a fegai proceeding that may significamy affect Lender's rights in
<br />the Property (such as a proceeding it.. bankruptcy. probate. for condemnation or to enforce laws or regulations). then Lender
<br />L may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's
<br />actions may include paying any sutras secured by a lien which has priority over this Security Instrument. appearing in court,
<br />paring reasonable attorney's fees and entering on the Property to make repairs. Although Lender may take action under this
<br />paragraph 7 Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become
<br />additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of
<br />'paymaLt. these amounts shall bear interest from the date of disbursement at the [vote rate and shall be payable, with interest,
<br />upon notice from Lender to Borrower requesting payment.
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