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<br />SQ_a..103075
<br />UNIVORM. COVI:NRNT1 &irrowcr and Lender cm enant ;tntl agrcr a., follokv%
<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 Note and any prepayment and late charges duc under the Note.
<br />2. Funds for Taxes and Insurance. Suhject to applicable law or to a written waiver by Lcndcr, Narrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, it suns ("Funds") equal to
<br />one twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Iustrunicrtt; (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 hoiding and applying the Funds, analyzing the account or verifying the escrow items, urtless
<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 an 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 ghee to awpr. 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 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 when due, the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or 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 deficiency hi. one or more payments as required by Lender.
<br />Upon payment in full of all sums smund by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragratlrb;19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior to the sate of the Ft%vrty or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secu.&d.by this Seaerity ftrstrament.
<br />3. Application of Payments. Unless applicable law Onwides. otherwise, all payments received by Lender under
<br />paragraph% i and 2 shall be applied. first, to late charges due under die Note; second, to prepayment charges due uadcr the
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. CluuT s; Liens. Borrower shall pay all taxes. assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security instrument; and leasehold payments or ground rents, if ally.
<br />Borrower shall pay these obligations in the. ir`autner provided in paragrapb 2, or if not paid in that manner, Borrower symi ll
<br />pay them on time directly to the person owed?. payment. Borrower shet promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph:.' I.i' Borrower makes those payments directly, Sorrower shall promptly furnish to Lender
<br />receipts evidencing the payments..
<br />Borrower shall promptly discharge any lien whisk itias priority ow. this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the liert ire a manner acceptable to Lender, (b) contests in good
<br />h :1i::.C.: vyt:�:i}.;f:,rt"tsi 3ii:Si : t:f8s.: ,d�r;t aif il:e iiCii iiarugaiiu%iti diA�a which in laic Let,' i's opinion i3Nc'ISic r'3
<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 />agreetrr.w-tsatisfactory to Lender subordinating the lien to this Security Instrument. if Lender determines that any part of
<br />the Pivf. #Ty is subject to a lien which may attain priority over this Secuaat.4, Instrument. Lender may give Borrower a
<br />notice identifying the lien. Borrower shall,satisfy the lien or take orne Qr: M6r, of -the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire. hazards included within the terms "extended coverage* 3Ad any other hazards for,which Lender
<br />requires insurance. This insurwioc shall be maintained,rit thq amounts and'for the periods that Lendeir requires. The
<br />insurance carrier providing the insurance shall be chosep .by, Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />A 11- insurance "policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renew -als. If Lender requires. Borrower shall promptly gd. a to Lender
<br />all receipts of paid premiums and renewal notices. in the event of loss, Borrower shall give prompt notice t6 the insuran"
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lend r and Borrower otherwiwagree in writing, insu.=rree proceeds shall be applied to restoration or regisec
<br />of the Property damaged, if the restorationn or repair is economically 'fcasible and Lender's security is not lessened. 1:f the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds s6tt -'be
<br />applied to the sums secured by, this Security Instrument, whether or not then due; with any excess paid.ro 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.clsim, then Lender may collect the insurance proceeds. Lender may use the gmceeds to repair or restore
<br />the Property or': •ro {say sums secured by this Security Instrument, whether or not then due., T�c.30 -day period will begin
<br />when the notice is given.
<br />);finless Lender and Borrower otherwise agree in %rising, any application of proceeds to principal shall not extend or
<br />postpone the duedaw of the monthly payments referred to in paragraphs t and 2 or change the amount of the payments: if
<br />under paragraph M.tlir Property is acquired by Lender. Borrower's tight to any insurance pahvies and proceeds resuleing
<br />from damage to the: property prior to the "- gisition shall pass to Eihder to the extent of the shins secured by this Security
<br />Instrument immediately priox.tathe acquisition.
<br />6. Preservation and:4fsiiiatenance of Property, heasehglds�' Borrower shall not destroy, damage or substantially
<br />change the Property, allow" the Property to deteriorate or' eommf-s waste. If thi's Security instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease, and if Borrow' er acquires fee title to the Property. 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 fads III perform the
<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 Lcndcr may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br />to the Property. Lender's actions may include paying any sums secured by a hen which has priority over this Security
<br />Instrument. appearing in coprt. paying reasonable attorneys' fees and entering on the Property to make repairs Although
<br />Lender may take action undee ibis 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 t his
<br />Security Instrument, Unless BurrcFwer and Lender agree to other terms 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 Horrom cr
<br />rtyucstrr•,g payment
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