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<br />UN IFORN CUV F \AN Is Borrower and Lender covenant and agree as follow~: 89-1-02506 -
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borro %%er shalt prompt y 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. Funds for Taxes and Insurance. SOh ect 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 dote 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. (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 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 shalt 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 shall 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 ofthe Funds showing credits and debits to the Funds and the
<br />purpose for which eac;t deXt to the Funds was made. The Funds are ple•.'.gtd as additional security for the sums secured by
<br />this Security Instrumem.
<br />If the amount of the Funds r %'.d by Lender, together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items,_sEX -1 exceed the amount required to pay the escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on 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 decency in one or more payments as required by Lender.
<br />Uporp payment in full of all sums secured by this Securizv Instrument, Lender shall promptly refund to Borrower
<br />any Funds &ni4 by Lender. If under paragraph 19 the Propen i. sold or acquired by Leader. Lender shall apply, no later
<br />than immedi;:'ely prior to the sale of the Property or its acq: is`aion by Lender, any Funds held by Lender at the time of
<br />application as acredit .aga:lnst the sums secured by t -is Security Instrument.
<br />3. ef'Payments. Unless applicable law provides otherwise. all payments received by Lender under
<br />paragraphs. i -.snd � N`ha ? be applied: first. to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third. rr $tnotinas. ayable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Charges; Lsens. Borrower shall pay all taxes, assessments, charges, fines and imposit- ns attributable to the
<br />Property which may at ain priority over this So.crity Instrument. and leasehold payments vT ground rents. if any.
<br />Borrower shall pay thpsZ obligations in the mar -;--•er provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay them on time directly to the person owed pay:^zent. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paidd jder this paragraph. If Burrower makes these pay+r. Lnts directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any leers which has priority o% t9is Security Instrument unless Borrower: (a)
<br />agrees in writing to the Nyment of the obligation s=ured by the lien in a marner acceptable 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 part of the Property; or (e) secu.-�,n, from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the liea ti► this Security Instrument. If Lis • rdetermines that tiny pan of
<br />the Property is subject to a lien which may attaLT priority over this Security Instrument. rre.ay give Borrower a
<br />notice identifying the lien. Borrower shall satisfy th. lien or take one or more of the action}. set fo - ^_h af-ove within 10 days
<br />of the giving of notice.
<br />S. l4aimird Insurance. Berg; ver shall keep the improc-cments now existing or hereafter ert:cted on the Property
<br />insured agayr,!: loss by fire, hazards hwluded within the term '(;.-!.t ended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall he maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier pro+ic: og the insurance shall h_ _hosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld
<br />All insurance pesky, and rc;anvals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to ho!d rlre wOlicies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />ail receipts of paid pree;; Tr.s and renewal notion. r n the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Leti(Qr may make proof of i not made promptly by Horrow•cr.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Prop r iy damaged, if the rest-mation or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration r repair is not economt aE,, feasible or Lender'% security would he lesscr-,cd. r1-. ,nuance proceeds shall h,
<br />applied to the sums secarcd by this Security !n�'rument, whether or not i liat due. w t v.n,. _rt ess paid In Borrower. If
<br />Borrower abandons th4. Pri:;.erty, or does not any : _-r within 30 clays a nuriec from Le:.ser rr it 1',.- insurance carrier has
<br />offered to settle a claim, tlu:n Lender :ray collect the insurance proceeds. lender may u:•_ r I-e proceed:, 10 repair or restore
<br />the Property or to pay sums secured 1); this Security Instrument, whether or not then dill. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agrcv in writing, any application cif pruccx [it, to principal shall not extend or
<br />postpone the due date of the monthly payments rcti_rred to in paragraphs I and 2 or chaiwe the amount of t he pay ntents. If
<br />under paragraph 19 the 11mperty is acquired by Lender. Hurrc »ycr'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 nuI de�Imy. Damage or sulAtantualy
<br />change the Property, allow the Property- to deteriorate or commit waste. if this Se,urin, Instrunicnt is on a leasehold.
<br />Borrower shall comply with the pro, isions of the lease, and if Horrowcr at:quires fee title to the property, the leasehold anJ
<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 Horrower falls to perform the
<br />covenants and agreements contained in this Security Instrument. or there rs a legal procceding that inny sign ticanth aOIC',
<br />Lcndcr's rights in the Properly (such as a proceeding in bankruptcy. probate, for condemnation or to cnfor ce lain t,,
<br />rE•PIIIa11t7TtG).: )tt_ ti E rrI(??I may do and psy for t+' h «l. =. r !t iteCe'.t ::rV tit prittc-111tr . atilt of t he Pry �pc rty ani. 1 t i iat, i'.. hiti i,
<br />in ih, Pr. periy Lender's uJimis may include paying any sums secured by a hen c+htch has ptyont: M Vr Ihi, SeC::rlt+
<br />11Nruntent. appearing in court, paying reasonable attorneys' fees and entertne on the Property to m.ikc rep.iirs •11th; t.t'.
<br />Lender may take action under tins paragraph 7.1 ender does not have ti i do so
<br />Any amounts disbursed by L ender under this paragraph - shall heo lnic adt]11 inn.ct :1011 44 lie.'t i t •u.c: ,ec a rot: 1-1, t h. a.
<br />Security lustrumerit. Untcss liorrom cr and i endc., agree to other terms of pa%mcm. thc,: ,mim nt, sh.ttl i,c,tr ]W. tc•.!
<br />the date of dishurs:,niertt at the Notc rate and .haa he p.tyar.Ft tioh iutr::.r, .ql:m omit. tr rn 1 rn.'..; it it. ti:•,.c
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