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<br />89- 103096
<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as fellows:
<br />1. Payment of Principal and Interest; Prepayment and lane 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 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 payments are due under the Note, until the Note is paid in full, a sum ("Funds") 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 haaard 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 />Leader 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 of the Funds showing credits and debits to the Funds and the
<br />purpmfor 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 am wit of the Funds held by Lender. together with the future monthly payments of Funds payable prior to
<br />the duo; dates of the escrow items, shall exceed, the amount required to pay the escrow items when due. the excess shall be.
<br />at Bo w.wer's optkm. either promptly repaid to Borrower or credited; to Batrov�er on monthly payments of Funds. If the
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<br />amt3w 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 in one or mom paymenta.tts'required by Lender.
<br />Upon payment in full of all sums secured by this Security tmstrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sotd or acquired by Lender. Lender 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 />application as a credit against the sums secured by this Security Instrument.
<br />3. Apllieatior of Psymnts. Unless applicable law provides otherwise. all payments received by Lender under
<br />paragraphs 1 and 2 shall be, aigp ied: first, to late charges due under the Note; s6mmd, to prepayment charges due under the
<br />Note; third, to amounts paya tle under paragraph 2; fourth, to interest due; and last., to principal due.
<br />Lim 6, Cliargeg Li Borrower shall pay all taxes, assessments, charges, tines and impositions attributable to the
<br />Propedy which may attain priority over this Security Instrument, and leaseh ld. payments or ground rents. if any.
<br />Bngrower shall pay these obligations in the manner prntiicf,..d in paragraph 2, or if twit Z+2id in that manner. Borrower sh$T,
<br />pay them on timedirectly to the person owed paymetftc...9- orrower shall promptly; Nmis►W.,to Lender all notices of amwurus.
<br />to be paid under this paragraph. If Borrower makes theme payments directly, Borrowet-sh& promptly furnish to Leader
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien wbi!b has priority over this. Security Instrument unless Borrowers ia)�
<br />agrees in_writingo the payment of the_ _obligation secured by the lien in a matinee 3icxptable to Lender, (b) contests in good
<br />faith t he I imity; 0 r dfer16 against enforcement of the lien ia. legal proceedings a`ld`er in tfte 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 dstermincs that any. part of
<br />the Property is subject to a lien which may attain 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. Huard Iasaranee. Borrower shall keep the ,jusprovements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the tear "exteendedcoverage ". and any other hazards for which Lender
<br />regWres insurance. This insurance shall be maintained in the amounts and -for Abe periods that Lender requires. The
<br />inst�mme carrier providing• thq insurance shall be chosen by Borrower subject. trot Lender's approval which shall not be
<br />urit'ttasonably withheld.
<br />All insurance polities and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />]derider shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />A i oceipts of paid premiums and renewal notices. In the event of loss. Borrowersl' tall give prompt notice to the insurance
<br />ca "gr and Lender. Lender may make proof of loss if net. made promptly by BorTawer.
<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 Security Instrumen4 whether. not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Pr�aperty, or does not answer within 30 days a noticefrom 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 relmair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 -day- pgriod will begip
<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 />post
<br />pone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount ©fghtpaynmerttis. If
<br />up*r paragraph 19 the Proportoy is acquired by Let4er.. Borrowlq s eight to arey ; innsurance poli�ces an -pi'paeeds resulting
<br />from damage to the Property pr ior.to the acquisition shall pass to Lender to ibi: atcnf.mf the su-:'s s *ed,Bty this Secxarit}
<br />;.' Instrument immediately prior, tithe acquisition.
<br />" 6. Presmatios and 13sYatenauce of
<br />Property; L,easehotds. Borrower'shall not destroy, damage.iir substa'Jiisily
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrumcnc'ii�an a leasehold.
<br />Borrower shall comply with the provisions of the lease; and if Borrower acquires fee title to the Property. af.e leasehold and
<br />foe 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 fails"to 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 Lender may do and pay for whatever is necessary to protect the value of the Property and Lenders rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />L 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 ha%c 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 terms of payment, these amounts %hall bear interest from
<br />the date cif disbursement at the Note rate and shall be payable. with interot. upon notice from I.end;r to Borrower
<br />requesting payment
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