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UNIFORItCOVENANfS. Borrower and Lender covenant and agree as follows: ' 89-102094
<br />1. Paymeat of Principal and laterest; Pt epytneat eaA Gate 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. Faaftfor Taxes ad Iasaraeee. 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 />one - twelfth of (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or pound 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 shalt 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 debits to the Funds and the
<br />pm-pm 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 of 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 whern due, the excess shall be,
<br />at Borrower's option. either promptly repaid to Borrower of credited to Borrower on monthly payments of funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower. shall pay to Lender any
<br />amount necessary to make up the difeciency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promplyy+ refund to Borrower
<br />any Funds held by Lender. if under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to. the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sunrssecured by this Security Instrument.
<br />3. Application of Psymenta. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs i and 2 shall Cve applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, toamounts payable under paragraph 2; fourth, to interest due; and last. to principaldue.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property wMch 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 cr paragraph 2, or if not dined i.tz tfiat. manner, Borrower shall
<br />pay them c,%n timedirectly to the persan owed payment. Bor: aaer shall promptly fumish to L arr&r all notices of amounts
<br />so be paid sander this paragraph. If Borrower snakes these payments directly. Borrower shall pn?Mpdy furnish to Lender
<br />receipts evidencing the pa- yrnents.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the-pawrrent a• theiatdi ga ion secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or de5m& against erft r: v— ,rtes: cf the lien in. legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement, saf the lien or furfairure of any pare of the Prupetty; or (c) secures from the Milder of the lien an
<br />agreement satisfactory to Lender &- .aNmdinating t1he lien to this Security Instrument. If Lender determines that any pa..!t of
<br />the Property is subject to a lien ufti Ji. may attain priority over this Security Instrurst(mt. Lender may give Barvv:aeT a
<br />notice idoulPriing the lien. Borrower �.hgl satisfy the lien or take one or more of the actions set forth above within. [ ) days
<br />of the givirgg ,"notice.
<br />S. St�azard 1€muri ice. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured agpinst loss by.6w, hazards included within the term "extended coverage' and any other hazards for which Lender
<br />requires ut�-ufance. This insurance: 41tall be maintained in the amounts and for the periods that Lender re;,,: ;res. The
<br />insurance carrier providing the insarance shall be chosen by Borrower subject to i cnder's approval which ss.zO not be
<br />unreasonably withheld.
<br />All insurance policies and 6mewals shall be acceptable to Lender and shall hij;fude a standard mortgF,.�e. clause.
<br />Lender shall have the right to hold t lie policies and renewals. If Lender requires, Barrower shall ,promptly give to Lender
<br />all receipt ,of paid premiums and renewal notices. In the event t of loss, Borrower shali Laive prompt, notice to the rn 5urance
<br />carrier wid (Lender. Lender may make proof of loss if not made; promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree to writing, insurance proceeds shall be appls,ed to restoration or repair
<br />of the Property damaged. if the restoration or repair is economically feasible and Lender's wcustty is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the irausance proceeds shall be
<br />applied it) 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 carrier has
<br />offered ta rattle a claim. then Lender may collect the insurance proceeds. Lender may use the proceedi to repair or restore
<br />the Property or to pay sums secured by this Security instrument. whether or not then due. The Set -day period will begin
<br />when the notice is given.
<br />Unless Lender End Borrower otherwise agree in writing, any application of prmcedi top -irctrol ,hall n(-.t extend or
<br />postpone the due date of the monthly payments referred to in paragraphs i and 2 or change the amour: of the payments. If
<br />under paragraph ly the Property is acquired by Lender, Borrower's right to any in -sar ncc poiccief; and 'pracew.5 resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of she sums secured by this Security
<br />instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Plcperty; 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 />Borrower shall.cornply with the provisions of the lease. and if Borrower acq *wires fee title to the Pri tpeny . 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 perforin the
<br />cotenants and agreements contained in this Security Instrument. or there is a legal prweeding that may significantly affect
<br />Lender's riglrts to the Ptopctiy (such as a picsccethlig its bastituptcy. pfobatc. Coo or to crtfc,rcc lad, car
<br />regulation,#). then Lender may do and pay for whatever is necessary to protect the vale: of the Property and Lendet's right%
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority iner thus Security
<br />Instrument. appearing in cuuti, flaying reasunableattorncys fees and entering on the Property n• make repairs Although
<br />Lender may take w tion under this paragraph 7. Lender does not have to do sv
<br />Any aniour,tsdisbursed by Lender under this paragraph 7 shall become additwnal debt 4 ftorromer scour --d by this
<br />Security Inuruinetat. Unlcss Borrower and Lender agree to other terms of ray ructit, these atnouut0 01.111 bc.sr 11114 -res1 front
<br />the date of dttbuv :cmunt at the Neste rate and shall he paaabie. with triterest, upon iwitic fr.nn i ender t., ite•110%%cr
<br />rcqucating pay nit"t
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