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<br />' UNIF(MM C0VMANn Borrower and Lender eosronarit &rid firma fa irms.. 89" ' 101888
<br />i. Paystietat of Priadpal cad Iatetrest;. P*ttotrytttttiti tart Lte (lacges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Notd. *nd. any prepayment and late charges due under the Note.
<br />I Fw b iforTaxes acrd 1(aaarasce. Subject tta 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 ( "Fun(W') 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; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These itetnsare caffixt "e�scrowlitxms." Leader may estimate the Funds dutan the
<br />basis of current data and reasonable estimates of future escrow item. -
<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 instittuta.enN Lender shall appl +=•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 iiitertst shall be paid on the Fundrr Unless an agreement is made or applicable law
<br />requires interest to be paid, Lendii�thtalI not be required to pay Borinkver any interest or earnings on the Funds.. Lender
<br />shall give to Borrower. without aarge. an annual accounting of the F showing credits and debits to the Funds and the
<br />purls64 for which each debit to the. Funds was made. The_ Fond., are pledged as additional security for the sums secured by
<br />thb5ccurity Instrument.
<br />If the amount of the Funds held by Under, tcget e:*ith thii future monthly payments of Funds payable prior to
<br />the due dates of the escrow items, shall exceed thn;amcuof .r"Wred to pa-cf the escrow items when due. the excess shall be,
<br />at Borrawees option, either pronipdy � r�l�rrmwtrc r7r credited to Borrower on monthly payments of Funds. If ttie
<br />amount: of the Funds held by L is pert s ii��ent trs Ya # -the escrow items when.dur, Borrower shall pay to Lender any
<br />atnouat necessary to make up thed3 dte iW,4 m 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 to Borrower..: .
<br />any Fur & held by fiaerdet. If under paragraphs 19 the Property is sold or acquired by Lender, Lende7 shall apply, no tatcr:•
<br />than intnsochatety; pt* to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time:6-
<br />applirisz*iwasa credit against the sums secured by this Security Instrument.
<br />S.' Application of Payments, Unless applicable law provides otherwise, all payments received tr >; x$er under
<br />paragraphs I and 2 shall be applied: tit st, to late charges due under the Note; second to prepayment 4--m—TS d ae under the
<br />Note; third, to amounts payable under Faragrrph2; fourth, to interest due, and last, to principal due.
<br />!f.. Charges; Liieas. Borrower shall pwg-ali,taxes. assessments. charges, fines and to the
<br />Properly: which may attain priority ever grin Security Instrument, and leasehold payments or fir ts, if any.
<br />Borrasvershall pay these obligations in tae manner provid�.iit paragraph 2, or if rot• paid in that nt�t tr, Sop' rower shall
<br />pay them on timedirectly to the person owed payment. H+3crower shall promptly furnish to Und-erall notices of amounts
<br />to be paid under ibis paaragraph. If Barmcwer makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencin&Jhe:p'ayments.
<br />Borrawer.sHa'i tcrrplS.y discharge any lien which has priority over this Security Instrument unless Ekrrower: (a)
<br />agrees in writing to the paymciti_ of the obligation secured by the lien in a manner acceptable to Lender; (b) cc ctests in good
<br />faith the lien by, or 06.-nds against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or feeciture of any pan of the Property; or (c) secures from: the holder of the lien an
<br />agreement satisfactory to Lender sabordihating the lien to this Security Instrument. If Lenderd-a- t=nines that any part of
<br />the Pftl) y is subject to a lien which• may attain priority over this Security Instrument. Lendt:m may gb.e Borrower a
<br />notice identiPjing the lien. Lr'i m3wer shall satisfy the lien or take one or more of the actions set forth above v::thin 10 days
<br />of the giving cf notice.
<br />S. hazard fAwrance. Borrower shall keep the improvements now existing or hereaft.w erected on the Property
<br />insured against lovity'rre; bmards included within the term "extended coverage" and any oth-erbrezards for which Lender
<br />requitm insurance. This incunnix shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance earner providing th4 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 shall include a itd.:nJard mortgage clause.
<br />Lander shall,hava the right to hold the policies and renewals. If Lender requires, Borrower shall: promptly give to Lender
<br />all agmeipts of paid premiums and renewal notices. in the event of loss, Borrower shall give prom}7.- notices t; thz insurance
<br />cartierand Lendef. 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 restor;-:tinn or repair
<br />of the Propert a-dumaged, 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 Lender's security would be lessened, the insurance proceeds Jmall be..
<br />applied to the sums: se~'ured by this Security Instrument, whether or not then due, with any excess paid to S:rrower. If
<br />Borrower.abandens the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Ueda may collect the insura.n-u.- proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower oihenvt sc agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date ofthe monthly payments referred to, in. paragraphs 1 and 2 or change the amount of the payments. if
<br />under paragraph 19 the Property is acquires! by Lender, H-arrower'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 to the acquisition.
<br />6. Preservation add Maintensnce of Property; 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 />BorrOxer shall comply with the provisions of the lease, and :f Borrower acquires fee title to the Property. the leasehold and
<br />fee title shall not merge unless Lender as M to the me her in writing.
<br />7. Protection of Leaders Rights in the Property; Mortgage Insurance. U 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 laws or
<br />regulations), theft Lender many do and pay for whatesec is 11"essnr y to protect the value of the Property and Lender%. 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 take action under this paragraph 7. Lender does not have to do so.
<br />Any amounts disbursed by Leader under this paragraph 7 shall become additional debt of W- Tr0wer secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from
<br />the date of disbursement at the ?Vote rate and shall be payable. with interest. upon notice from Lender n+ Borrower
<br />requesting payment.
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