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<br />89' 10324
<br />UNIFORM COVENAN15. Borrower and Lender covenant and agree as follows:
<br />1, PRymestt of PdWpal and IattttoW Prepayaaeat arsd Late Cbwges. Borrower shall prop; qtly pay when due
<br />the principal ofand interest on the debt evidenced by the Note and any prepayment and hate charges dun under the Note.
<br />2. Faads for Taxes and Iawranee. Subject to applicable law or to a written waiver by Lenih m. Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note. until the Note is paid in 11410, a sum, ( "Funds ") equal to
<br />one-twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Iatttrument; (h) yearly
<br />taaehoid 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 ofcurrent 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 guar nteed 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 veritNing that 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 matde 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 />WWI give to Borrower, without charge. an annual accounting of the Funds showing credits and debita: to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security ll"s 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 mount required to
<br />at Borrower's lion, either � pay the escrow items wltrn: due, the excess shall be,
<br />op promptly repaid to Pm')I eec or credited to Borrower on monthly payments of Funds. If the
<br />amount oft 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 mckv.. "ynnents as required by Lender.
<br />j Upon payment in full of all sums secured by. this Sik.iirity Instrument, Lender shaft prumpdy refund to Borrower
<br />any Funds held by tAnder. If under pan%raph.191 the Prey is sold or acquired by Lender, Lender shall apply, no later. .
<br />than immmediately pn'or to the sak of the Property or its atcquisition by Lender, any Fundtheld by Lender at the time of
<br />applica*a is a credit against the sums secured by this Security Instrument.
<br />3. Application of Payinents, Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs l and 2 shatt be applied: first, to late charges due under the Note; second, to•prepaytnent charges due under the
<br />Note-, third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />46 CbWW Llem. Borrower shall pay all taxes, assessments, charges, flues and impositions attributable to the
<br />PropertY "1*h may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower sbaU pay these obligations in the manner provided: in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay their stns time directly to the person owed payment. Borrower shall promptly futtush to Lender all notices of amounts
<br />to be plaid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts a vidming the payments.
<br />SD=wer shall promptly discharge any lien which has priority over this Security instrument unless tin Borrower_: (a).
<br />�rEGC 1t� _grtio to th...., «. e.1. --
<br />- .--. t...,�....t:...,._ �:,.,h rrna si�:unu arme ilea m-amamw aoCeptab>ie~ tii%eudcr (b) contestsin good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which ih ebe Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures ;runt the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien. to this Security Insiruuieni. Ia °11xacie. dciermines 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 Aall satisfy the lien or kike one or more of the actions set forth above wi!tMn 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 term "extended coverage" and any other hazards for which Lender
<br />requites insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to L4414 i rand shall include a standard mortgage clause.
<br />Lender shall have the sight to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts,of paid premiums and reaewal notices. In the eveni of loss, Borrower shsdel give prompt notice to the insurance
<br />carrierartal Lender. Lender may make proof of loss if not made promptly by Borrower..'
<br />tPiiless 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 io the sums secured by this Security 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 noti-ce from Lee der that the insurance r has
<br />offered td settle a claim, then Lender may collect the insurance proceeds. Leander may-use the proceeds to repair or restore
<br />the Property or to pay sums saufed by this Security Instrument, whether isr not then due. The 30-day period will begin:
<br />when the notice is giweru
<br />Unless Lender and Borrower otherwise agree in writing, any application of prmeeds to principal shall not extend or
<br />postponothe due date of the monthly payments referred to in paragraphs 1 and 2 or cltange the amount of the p a ments. If
<br />under paragraph 19 the Property isicquired by Lender, Borrower's right to any insu'ra'nce 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 acquisitions.,
<br />6. Praenatioa and Maintenance of Pa:,aperty; Leaseholds. Borrower shall rot destroy, damage or substantially
<br />change the Property. allow the Property to deteriorate-or commit waste.'If this SecGCigy Instrument is on a leasehold,
<br />Borrower shall comply with the pr*' isions of the lease. and if Borrower *ukres fee iiil'e to t he Property. the leasehold and
<br />fee title shall not merge unless Lender agrees tot.he merger in writing.
<br />7. Proteed" of Leader's Rigktis taR Property; Mortgage Yaasurance. 111 Borrower fails to perform the'
<br />covenants and agreements contained in this Security Instrument., «r tl+ete is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding in b�nfCri ptcy, 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 Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />Instrument, apptaring 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 have todo. 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 shall bear interest from
<br />the date of disbursement at the Mote rate and shall be payable, with interest. upon notice from 1 ender to Bornmcr
<br />requesting payment.
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