|
• 1
<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows: 89-- 102007
<br />I. Payrtaeat of Principal aed Interest; Prepayateat and Late Charges. Borrower shall promptly pay when due
<br />the principal ofand interest on thedebt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Fonda for Tares aad Ianwance. 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 fill. a sum ("Funds") equal to
<br />orm twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />3atsebold payments or ground rents on the Property. if any; (c) yearly harard insurance premiums; and (d) yearly
<br />tm0ttg1e insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis ofcM?=tdsxa 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 areney (including Lender if Leader is such an institution). Lender shall apply the Funds to pay the escrow item
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items. unim
<br />Leads pays Bonrowef interest on the Funds and applicable law permits Lender to make such a charge. Borrower aad
<br />Leader may agree cn writing that interest shall be paid on the Farads. EInless an agreement is evade or ntlicable law
<br />r�egtiiiM interest to be paid, Lender shalt not be required to pa.} Borrower any inGeret ar ea rrtitegs an the 1Fauav3s Linder
<br />SM2 giM4W 13orrosvea, without ebaraG an annuAlaccommigr4iif the 1 siimw.7rrc credits gad cfebirs gfl ETrieffli s the
<br />putposeii® 'w&icheadxdebit ea elbalFisndswsswa4ipT Tte F4w.r s 3se {:rsip�eii a a xeira{ secsn> rry frzst�+e s,: sesurexil by `
<br />. - ..h the future maathly: tytdesst;. se i4 -1 Y sL +. ra>rlh
<br />thedt�iit± t+ lires .srvasems;. ;aisa�,xexiffrer,r kiredto the -
<br />atriLYVVtai,�a .' PaY esarrmaitswtien :iiiuc ;tiitie.Tgts(tl.3or:
<br />pr+�itgstl�;° rrp>�. tits, i3itacr;?3at�rit3. s�eidit� ri �3;orseirr,�'rAit +riaiilh s ' � •-'
<br />Lritur3tfrira� TS net �. tt tistsrtr t iiii(id. ilP13irr r.
<br />i]v r
<br />.i:f�utzy.'t�yittfkct :ice :•ttir.�i?�ctn iini 1P.�3 its � W�•� :31f!ra•btiil. .
<br />.�. ci' �? . p`' �fi+ jY7ik� 'i(�a�rtt�,uyr�,6F� :L�acta9r'• . ..
<br />1`.0 c�'rr. payer: i of ally %ums secisr�3 4�: i9iy� : :I§i� iit71�- )i�7t�y t ; }1 iariiCx shall promptly refund ton Borrower
<br />any Fars& held by € �r4 't f after: ;rparagraph 15 the 7mjirriY is salil "or jug urrai by Lender. Lender shall apply. no later
<br />than immediately prior to the sale of the Property or its acquisition by hander, any Funds held by Lender at the time of
<br />application asa credit against the sums secured by this Security Instrument.
<br />3. Application of Paystneats. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall beapplied: first, to late charges due under the Note; second. to prepayment charges due under the
<br />Note; third. to amounts payable under paragraph 2; fourth. to interest due. and last, to principal due.
<br />4. Chwgea; Inns. Borrower shall pay all taxes. assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents. if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower shall
<br />Pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts f
<br />to be paid under this paragaph. It Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the paytmernts. W,
<br />Borrower shall promptly discharge any lien which has priority aver this Security Instrument unless Borrower: (a) n TA
<br />ogees in writing to the payment of the obligtr4i1rl� y h•Ien in a ^.iJ ner acc...ptabte 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 pan of the Property; or (c) sect:res from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Se"ney Instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may attain prion.y over 3; :; parity Instrument. Leo -•er may grtie Borrower a
<br />notice identifying the hen. Borrower shall sactsrr the lien or talc.- :,_,. I,• ; -��re of the actions set forth above with n 10 dags .
<br />of the giving of notice.
<br />S. Hazard immraace. Borrower shall keep the now existitrg cn t;ereaftet crated cn the Property
<br />insured against loss by fire. hazards Lncluded within the teem -blended coverage" acnl's : °y ataec I,_, Tds for which Lender
<br />requites insurance. T,'lti�. insurance shall be maintained in the amount -s: and for the periods rlvv Lender requires. The
<br />insurance earner prom. d!. ^.g the insurance sh�W be chosen by Borrower subject to Lender's ap5woval which shall not be Ir
<br />unreasonably withheld
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. +P
<br />Lender shall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender i
<br />all receipts of pond premiums and renewal rehires. In the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree tit writing. insurance proceeds shall be applied to 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 Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums 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 30 days a notice from Lender that the insurance carries has
<br />offered to settle a claim. then Lender may collect the insurance 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 givers.
<br />Unless Lender slid Borrower otherwise agree tat writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />under paragraph 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 to the acquisition.
<br />n�w_40. Presmatios aN Maintemmee of Pi operyy; Leaael olds. Borrower shall not destroy, damage or substantially-
<br />the Prope. ►y, a.,.o.r the Property to deteriorate or commit w&1 -,1.e fif this Security Instrument is on a leaseho4& r
<br />Borrower shall corrpiy wlth the pv.,visions of the lease, and if Borrower ° Aiqu.jns fe, role to the Property. the leasehold and
<br />fee title dutil not merge unless it -ruler agrees to the merger cot writing.
<br />Paotact'iari of Ie*dWfv Malts in the a ... .,
<br />pro- r�, :�razt��. ' if Borrower fails to �:^orm me '
<br />eoverrairS's and agtcec, &ts contained in this %nirrity Instr ;?mAU%t, or tt ;,m-e a a legal proceeding thv may signifixn. tly affer^ ,
<br />'L, endePs rights in fbe. P`4operty (such as a t�rc�c —4ding in L-xnitruptty. probate, for condemnations or to comic laws or
<br />regulation :}, then 14n,&Ar may daand pay fof *i0 t ?1%1 -ver }s nw,w,,, t4;;r , ?ect the value of the Property and Len6-,,r's rights
<br />j in the Property. Ltstd;fs actions may include' paying ary suns secured by a lien.whtch has priority over rft� -Security :
<br />j Instrument. appear.4n,X.!n court. paying reasonable aitorrityi` fees and entering on :1:t Property to make repairs Although
<br />Lender may take acocr: under this paragraph 7. Lender dtx-, have w
<br />Any amounts disbursed by Lender under this paragrar h 7 shall hwc - #ne additional debt of EWrower secured by this
<br />Security Instrument !1 nless lkitrower and I.erider agrt*e to other ternic of paymrnt, these amouiitc shall bear interest frain
<br />the daft of disbursement at thr *Jute rate and shalt he loaf•ablc. will, interest, ulxin nonce trnnt Lender to ilorrnwer
<br />requesting payrnrm
<br />
|