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<br />102-193
<br />UNIFORMOWENAN"M Borrower and Under covenant and agree asfollows:
<br />Payment of P-. Lrw gat and Interest Prepaymeat and Late Clksrgm Borrower &hall pru ;*ly pay when due
<br />the principal of and interest on lbe debt t%idenced by the blote:md any prepayment and latecharges due under the Note.
<br />2. Funds for T axes and Insumce. Subject to applicable lair or 17 a written waiver by Leader. Borrower shall pay
<br />to Lender on the day monthly payments are due tinder the Note, until the Note is paid in full, a sum ("Fund: -') equal to
<br />one-twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument: th) yearly
<br />leasehold payments or mound rents cn the Property, if any: (c) yearly :razard insurarce premiums: and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimue the Funds due ce 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 wLcounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lettwer is 3uc h ar_ institution). Lender shall apply the Funds to pay :It - items_'
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifyitlg the escroi�!� unless
<br />Lender pays Borrower interest on the Funds and applirable law permits Lender to make such a charge. wer and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is trade 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 izu U:bits to the Funds and the
<br />purpost for which each debit to the Funds was made. The Funds are pledged as additional sec n for the sums secured by
<br />this Security Instrumr_•nt.
<br />If the amount of the Funds held by Lender, tog, -then with the future monthly pz, ir^nts of Funds payable prior to
<br />the due dates of the escrow items. shall exceed the amount required to pay the escrow rtes-.., when due, the excess shall b_,
<br />at Borrower's option, either promptly repaid to Borrower er 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 Leander any
<br />amount 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, Linder shall promptly refund to Borrower
<br />any Funds held by Under. If under paragraph 19 the Property is sold or acquired by Lender, 1xnder 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 />a pp ;ication as a credit against the sums secured by this Security lnstrum, -nt.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under
<br />paragraphs i and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to arnounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority.over this Security Instrum,-nt, 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
<br />to be paid under this paragraph. If Bower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidenc :rg the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument 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 good
<br />faith the lien by, or defends against er,�orcement 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 part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may -stain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. :lazes: d Insurance. Borrower shall keep the ;mprovements now existing or hereafter erected on the Property
<br />insured aE;ainst !oss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained i,- the amounts and,for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen :.y Bonower subject to Lender's approval which shall not be
<br />unreas^nably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />nder shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />receipts of paid premiums and renewal notices. 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 in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Propperty 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 vents secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or don not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collet: the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Prepcny or to pzy 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 otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date -)f the monthly payments referred to in paragraphs I 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 />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage orsubstantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security instrument is on\a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and
<br />fee title shall not merge unlms Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance. if Borrower fails to perform [tie
<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), then Lender may do and pay for whstever is necessary to protect the value of the Property and Lender's rights
<br />in the Property. Lender's actions may inr•lude 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 Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security instrument. Unless Borrower and Lender agree to other tears of payment, these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower
<br />requesting payment.
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