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<br /> ` .` Utvu�oleM CovEtv�tx3rs. � HorroMer md Ltnder covenuit and agra as follows: �� �V""1��`�Q� � •
<br /> • ` 1•� P��eat at PM�tINI�i Iw�eres�PreNyaea!a�d Lte C�r�. �Bonower sha1l promptly pay w�en due�� �
<br /> `` � t the prineipal af and`vnterest onshr.��ebt evidenced by the Notc and any prepayment�nd tate charg�s drre under tbr Nnte.
<br /> � � � 2. #��fot Ta�[a ud I�rabc� Subja;t tn applicable taw ar to a written waiver by Leadu,Qarrawtr shall paK � �
<br /> ` . ` ta Lrnder on thb day montbly p�yments_ars due uader Ure Note,until the Note is,paid in full,a sum("�unds")ecjual[�
<br /> �•���� (�) Y��Y��s an�assessments which may. attain pribrity Qv�� this,Secprity Insttumen�; (b) yrart� �
<br /> : .. k�sehold psnnents ar g�u�nd r�ts on the.Prape�tY. if aa►y; (c)X�arlg haTatd insnraace premiums; and td? yearly
<br /> . . ,' t�t�insur�tic�Prtmi�ms.i�'mny.'1'6esG items:re Callbd"escrow items."Lender may estimate the Funds due on the
<br /> . 6ui�ofcusrtnt data and rasuaabk estima�a of future e3crow items. � ' `
<br /> _ ; . 7'he Funds shait be beld in ar�iqstitution the deposits or accaants of which are insured ot gnaranteed by a fcdera!or � • • �
<br /> , , stite a�encY(includi�g I.ender i�Lender is such an institution).Lender sh�ll apply the Funds to pay the escrow items. � �
<br /> � � � Lt�detr m�►y not chuae for fiokiing and applying the Feuids,analyz�ng the accour�t or vsrifying ihe acrow items,uakss � �
<br /> , . La�defr pays Baira�v�inta4st on the Fvnds and�pplicable!aw permits Lender to make such a charge.Borrawer and .
<br /> - - -� �.ender aru�y agret ia yvre`iin�tluf�iaterest sball he paid an the Funds. C1aless an ao�.�►�is msde os agplics8te(aa � . - ` -
<br /> � � , raryires interest to be paid,Lender shaU not 6e reguirGd to pay Borrower any ia�terrst or earnings,on the Funds.i.euder
<br /> � , sbal!�iye to&�srpwer,without chatg�an aanual xccovnting of t6e Funds shawing credits and debiu to the Funds and ihe '
<br /> � � , purpose for�vhic�t each dcbit to iha Funds was made.The Funds are pledged as addirional security forthe sums secured 6� �' �� `
<br /> � � tLisSecudtylttstrument. . � , ,
<br /> ` � � If the aawuunt uf i]�e��nds held by l.pider,together�with the future monthly payments af Fuads � � �
<br /> paya(ile.g.r:`es tu � � �
<br /> the due dates of she e�cro�e.itrans;shall excad the amount required to pay the escrow items wben due,the excess sSaL be, � � �
<br /> . . �at.8ortmver's option,either�rromptfy repaid to 8orrower or crc�ted to Borrower on monthfy paymrnts of Fursds.if the �
<br /> . : a�naqnt of th�Funds hetd b�i€�t$u is noi suAScient to gaythe es�xow items when due.Bar�awes shalt pay eo Lsnder azry . � � �
<br /> ; �ami+ont neees.�ry ta makr up tfie de6ciency in ane ar more payments as required by I.ender. . ,
<br /> _ ti . � � Upon p�ymeni in fult of all sums secured by this Se�.nrity Instrument.Lendet shaU promptty refund to Barrower � .
<br /> � � • any Funds held�'by 7.ender.If under paragraph 19 tbe Property is sold or acquired by Lendtr�Lender shall apply,nu iater-
<br /> : s �than immodiatety prios ta the sale ot'the Property or its acquisition by Lender,a,ny Fonds betd by Iknder at the iime of �� - -
<br /> , f appfica3on as a�redit agai�nsithe sums secured by this Security instrument._ ,
<br /> f . A�Ik�tion oi 14��eeet�.� Unless applicable taw p*ovides otherwis�a11 payments receivedi 6y t.ender.uncler _
<br /> , . parsgraphs 1 and 2sha11 be a�plied firs�to late chargrs due under the Note;second,to prepayment charg�due nnder the
<br /> , .� Note;third,to amounts payable under paragraph 2;fourth.tn inter�st due;and last,to principal duc.
<br /> � 4. CYar�Lhes. Borrower s�all�pay ap taxes.essessments,charges,fines aad impositions atfributable tfl the �
<br /> � � Praperty wAich�may attain�riarity,over this Seea�rity Instrument, and leasehold payments or graund rents, if any.
<br /> Borrower shall pay these�bligations in the maRSter provided in paragraph 2,or if not paid in that manner��orrawer shall :
<br /> � i �. pay them on time directty to the person owtd payment.Bonower shald promptly furnish ta txnder all notices of araiounts � � - - _
<br /> � to be paid under this paragaph. li Borrower makes these payments directty,Borrower shall pramptly fumish to Lender
<br /> � teceipts evidencing the payments. - � .
<br /> : ' Borrower s6a11 proatpily discharge any l�tn which has priority over this Security Instrumeni unless Burrower:(a) ! .�.`
<br /> _ agras in writing to the payment af the obligution$ecured by the liea in st manner acceptable to L,ender;(b)Contests in good °
<br /> , : faith the lien by,or defends against enfarcement of the tie�in,legal proceedings wh#ch in th�Lender's apinion operate to '� <<�
<br /> I • prevent�t�e enforcement of the Iien or forfeiture of any part oi the Pruperty;ar(c?secures from the holder of the lien an �
<br /> � agrament satisfactory to Lepder suboidinating the lien ta this Security Instrument. If Lender determines that any part of ; =
<br /> , the Property is subject to a Gen which may uttain priority ovcr this Security lnstrument, Lender may gi've Borrower a
<br /> notice identifying the lten.Borrower shali satisfy thc licn ar take one ar more of thc actians set fonh above within I�days :;�
<br /> � i of the giving of notice.
<br /> S, Huted Iesunace. Borrawer sha11 keep the impravements now eaisting on c�reaftcr erectcd on the Pro�erty
<br /> . � insured against lacs by fire,hazards included within the term"extendcd coverage"and any other hazards far which Le�der
<br /> � � requires,insurance. This insurance shall be maintained in the amounts and far the periods that Lender requires. The
<br /> . � � insuranoe carrier providing the insurance sha11 be chosen by Aorrower subject ta Lendcr's appraval which shall not be
<br /> i unreasonably withhcld. ,
<br /> � A,11 insuranet policies and renewats shnll be acceptable to l.ender and shall.include a standard mortgage ctause.
<br /> � L.endcr shall have the right to hold'thc policits and renewals. lf Lender requires,8orrnwcr shaJ)pr�mpily give tn i.er►dcr
<br /> � alI rtceipts of paid premiums and renewa)natices.ln the event of loss.Borrawer shal)give prampt nntice'to Ihc insurance �
<br /> , ' carsicr and Lender.Lender cnay make praof of lass iP nnt made pr�mptly by Borrower. �."
<br /> Untess Lender and Borrower otherwise Agrce in writing,insuraricc procceds shall be appticd to restoratian ot repair
<br /> ; of the Property damaged.if the restoFation�r repair is eco�iamicalty feasiblc�nd Lender'S security is nc�t le�sened. if thr
<br /> � restoratipn�r repair is no!econamically feasible or l,ender's security Kould be lessened.the insurance proceeds sh;ili be � �
<br /> ; apptied ta the sums secured by this Security Instrument.whether or not then due.with any excess paid to Borrower. If �
<br /> ; Belrrower abandons the Prc�perty.or does not answer within 30 days a notice from Lcnder that Ihe ir�sLranre carricr has
<br /> � � olfered to settte a claim,thrn Lender may cnllect the insur�nce proceeds. I.cnder may use the proceeds tn rc�+air ur restare ._ ..__. _._ ..
<br /> ' ' ' t�e Presper�y ar to pay sums securtd by thiS 5ecurity lpstrumem.whethrr or nnt theii due. The 30-day periad will hegin
<br /> ; when the notice is given.
<br /> ' Untess Lendcr and Borrawer otF�e3wise�gree in writing.any applicatian of prue;ceds to principal shal)n�t e�tend or
<br /> 1. posipone Ihe due date of the montbty payments referred to in paragraphs 1 mid 2 nr changc the amnunt of the paymentti,lf
<br /> I, under�aragraph 19 the Property is acyuired by Lendet,Btirrower's right Ie�any�n�ur�nce pc�licies and prcx:erds resulting
<br /> from damage to the Property prior to the acyuisitiun shall pass t��l,endec to�he extent��f the sumc secured by this 5ecurity
<br /> � Instrument immecliately prior to the urquisitiun. �
<br /> . 6. Q�eservatlun artd A1Aintenance at Property;Leaseholds. Hnrrc�wcr sh�ll n�st dcst rr�y,damagc ur�uh�tantially
<br /> change thc Pro�rly, allow the Pruperty to deteriorate nr cumn�it«aste. lf th�s Securuy I�i�trumcnt is em a leatehuld,
<br /> � gorrower shall romply with t�1c provisions of the lease,nnd iE B�trnwcr acyu�tes Per litle tE�the Pro�rerty,the le�sehold and ' T
<br /> � fee title sh311 nat mcrge unlcss Lencler agreec to th�m�ro�r��z writ!no. '
<br /> 7. PrMerdon ot Leader•s Rfghts in the 1'raperty: :�fnrf�ge Insurance. If He�rmwcr failc to p;rPorm the
<br /> covenants an�:�greements contained in this Serunty lnstiument,or thcre is a lebal prt�ccedinK that may s�gn�fic:,ritly�t�ect
<br /> -.,- _. t.rrtder'4 right��ihe Pso�ert3.(xu�h as w�i;i3ECCf�i#fg ifi�raitl�tiUjlf�'S'. rrni�te,fc.►r crnr�em�raiior.�f titi�nl(ifC� tawl e�r � 4
<br /> regul3tibfls)..then Lettder may doand pay Pcz�whatecer is nece�sary to prutect the�alur uf the E'u���erty a��ci l.endrr'ti n�h�s �
<br /> io the Prpperty. 1,ender's setinns rn.iy inrlude p�ying any sums secured b}�a hen «•hich ha� �Snnrity<ner tht�Secunty �
<br /> , ; Instrument.appearing in cautt,�aying reavunable attnrneys'fees�nd enterm�;�m thc f�r��perr} tv�nakc rr�sci�rs. Alth��uy,t► ..
<br /> LLxnder tnay takc aclion under this paraFtaph 7.I,etzcier dnrs not ha�c tcs de��r� ' .�
<br /> , Any�mauntsdisburseJ hy Lc»der under ihis��r�igfaph 7�hall h�r�c�tnr.«i�i��,�,��.il dchi c�t li��rr��acr�c�urcJ b} tfu. �.
<br /> Security tnstrument.Linles�Hdrra«•er�ui d l.en der agrec tu E►t hcr terrn���f�aymrnt.thc.r:un��i,ut��t�,�);he�t tntrrctit frnm �
<br /> the date of disbursentent a! thc Note rate and �i�a11 hi pa}�at+le, u�ltt �nt��rs�t. u��t�er ����ticc f'€��n� (er�cfct t�• H�irr��i�r: �
<br /> requecting p�yment. .
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