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<br />UNIFORM l'itvFNk %i• Borrower and I ender covenant and agree as follciws 89-102915
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Nate and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />(' to Lender on the day monthly payment% are due under the Note, until the Nate is paid in full. a sum ( "Funds ") equal to
<br />I one- twelfth of: (a) yearly twins and assessments which may attain pnonty 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 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 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 he paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />OW) give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose 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 qh: Funds held by Und. -r, together %kith the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items, shat1 exceed the amount required to pay the escrow arems when due~ tht excess shall be,
<br />at Borrower's illation, either pTomptl► repaid to B, rrt wet or credited to Borrower on tnottthly payments of Funds. If the
<br />amount of the Funds held by Lender is ssz,: sufficient to pay the escrow items when due, lkirrower shall pay to Lender any
<br />iiamnt necessary lo, make up the deficiency in one ir, more payments as required by Lender.
<br />Lipari payment in full of all sums secured by this. Secunt} Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 1 o Zhr Property is sold oT azqutred by Lender. Lender shall apply. no later
<br />than immediately prior to the We of the Property or its acquisition by tender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by thus Security Instrument
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied first, to late charges due under the Note. second. to prepayment charges due under the
<br />Note, third. toamounis 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 o,.cr this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations to 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 pail under this paragraph If Horrower makes thew payments directly, Borrower shall promptly furnish to Lender
<br />recetptc evidencing the payments
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />as. in carting to t= a v+yinc"t to the obirltarian secured ry the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defend% against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />_ prevent the enfc%rcttrient t?f the hen of forfedure of any part of the L`ioperiy; or (c) secures from the holder of the lien an
<br />agreetnennsatisfactory 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 ma% attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the hen. Borrower shall satisfy the hen or take one or more of the actions set forth above within 10 days
<br />of the giving of notice
<br />S. Haurd insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requirft insurance This insurance shall be maintained in the amounts and for the periods that Leader requires. The
<br />insurance earner providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unr+easonsblr withheld
<br />All insurance policies and renewals shall be acceptable to !.ender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all,receipts of paid premiums and renewal notices. iit 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 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 Secuntr 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 to settle a claim, then Lender may collect the insurance proceeds Lender may use the proceeds to repair or restore
<br />she Property or to pay sums secured by this Secunty Instrument. whether or not then due. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower other wiz agree in 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 Proper ty 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 rmor to the acquisition
<br />6. Preservation sad Niaintettance of Propero; Leaseholds, Borrower shall not destroy, damage or substantially
<br />change the Property, allow the Property to deterrrate or commit waste If this Secunf) Instrument is on a leasehold,
<br />Borrower shall comply wcc6` the pis_ , tsicss of the Lease, and of Borrower acqu -es lee rate to the Property, the leasehold and
<br />foe-title shall rot merge t{ntm i.ende:: agrees toy f).,emerger in writing.
<br />7. "ectioa of IAOder's Idfgitts in the Property; 'Wo"pite Insurance, V i�rrower fails in fseefoz:#t the
<br />covenants acurd�.agreen e�a' . ,- .iiratntd it thi% Secum y Instruaif -ern Or there is a legal pre nag that may stgntticacar;yr affect
<br />Lender's rights in the Pr.;�riy (cuch as a proceMfi ^g in Nankruptc), prdboo , for condernnat� :,ri c-c to enforce laws or
<br />regulations), then Lender may do and pay for who "c ;ter tsrl-!:X''ssary to proteCT-the salue of the Property and Lender's rights
<br />L in the Property Lender's actions may include paving ar.f, i,: n% secured by a hen which has priority Over this Minty
<br />Instrument. appearing in court, paving rea%Onnhlc attorneys fees and entering on the Property to make repairs Although
<br />Lender may take action under this paragraph 7. 1 ender does not have to do %o
<br />Any arriounts disbursed by Lender under this paragraph 7 shall become additional debt of Wrrnwer stti ured by this
<br />r.+ea:unty instrument l,rac %% Nurrowrr and I ender agree to either terms of pavmmt. these amounts %hail hear rntere,I from
<br />thr date of dishurument at the % -,tr %ite .mtj %hat tw I:aiahle. urah in!r•rrsr, upr:n iioti. r from 1 ruder to liorrov c•r
<br />rCOCA11119 pas men
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