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<br />UNIFIIRM Ct►VtiNA V 1% Hnrmwer and Lender covenant and aQrer as Gdlnwv 90-10549 J
<br />1, Payment of Principal and Interest; Prepayment and Late Charges. Iorrower %hall pro ropily pay when due
<br />the principal ofand interest on thedehl evidenced by the Note and any prepayment and latechurge% due under the Note
<br />2, Funds for Tapes and Insurance. Subject to applicable luw or to u written waiver by Lender, Horrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full. a sum 1"Fund% ") equal a►
<br />one - twelfth of (a) yearly taxes and asun %ments which may attain priority over thl% Secunfy Instrument; (h) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly haiard insurance premium%; 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 it) pay the escrow item%.
<br />Lender may not charge for holding and applying the Funds, unaly7ing 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. Horrower and
<br />Lender may agree in writing that interest %hall be paid on the Fund% G nits% an agreement I% made or applicable law
<br />requires interest to be paid, lender %hall not he required to pav &►%rower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credit%and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged a% additional security for the cum% secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payment% of Fund% pa�sablr prior w
<br />the due date% of the escrow item %, shall exceed the amount required to pay the escrow nemc when clue. Qht excess shall be.
<br />at Borrower's option, either promptly repaid to Borrower fir credited to Horrower on monthly pa }re.- :.,its of Funds. If the
<br />amount of the Funds hold by Lender 1% not sufficient w pa} the ewrow Item% when due. Borrower vfiw'i; pay to Lender any
<br />amount necessary to make up the deficiency in One ar more rayment %a% required by lender.
<br />Upon payment in full of all sums secured by this Se: n•: t.:y Instrument, lxnder shall promptly refund to Burrower
<br />any Funds held by Lender. If under paragraph 19 the Properly is sold or acquired by Lender, Lender %hall apply, no later
<br />than immediately prior to the sale of the Properly or 11% acqui%Ition by Lender, any Fund% held by Lender at the lime of
<br />application as a credit against the %um%secured by this %ecurlly Instrument
<br />3. Application of Payments. lJnle%% applicable law provides otherwise, all payments recened by Lender under
<br />paragraphs 1 and 2 shall he applied- first, to late charges due uatder the Nate; second. ttl g+repay ment charges due under the
<br />Note; third, !., amount% payable urtal: paragraph :; fourth. 4.1 In trre:t duc; and last, t.• :tpa! due.
<br />4, Charges; Liens. Horrower shall pay all taxes, a,%cssment%, charge%, fine% and Impomiton% attributable to the
<br />Property which may attain priority over this yr,•urtly Instrument, and lea,eholtl payment% oir ,;round rent%. If any
<br />&)rrowershall pay then - obligations to the manne••rprovided m jmragrapl: .2. ,Ir If not paid to that m. +nner. Horrower %hall
<br />pay them on time directl) t4.► the per %rsn owed payment. Horrower %hall promptly furnish to I ender all notice% of amounts
<br />to be paid under this paragraph If Borrower make% these pay ment% directly. It1►rrower %hall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly dl%chargr .nty lien which has priority o%er this Swum% Instrument unles% Horrower (a)
<br />agrees in writing to the payment of the ohllgatton secured by the lien lit a manner acceptable to Lender, lh) contest% In gotsd
<br />faith the lien by, or defend% against enforcemenf of the hen 111, legal pn►cccelings which ul the 1 ender'%opinion operate to
<br />prevent the enforcement of the hen ,0T f.►rfenure of any part of i'he Property, or (c) %ecurrs from the holder rsl the lien an
<br />ugreemcnl satisfactory to Lender %uN•,-•dlnating the hen lit flits Securm Instrumenf If I ender delermme% that any part of
<br />the Property is %uhltct It% a lien which may atlarn priority over flit% tiecurin Instrument, I ender r -js gne Horrower :I
<br />notice Identifying the hen 3orrl%wer shill %:►lira► the lien or take one or mlwr.d' the action% %et foTItt .lmh »e within Iti day%
<br />of the giving of notice.
<br />S. (Ward Insurance. Horrower shall keep the Improvement% flaw tasting or hereafter erected on the Proll.:rty
<br />insured against Ion by tire, haiards Included within the term "extended rrnrragc" ,rod any other haiard%for which Lender
<br />requires insurance Thss Insurance %hall he m. Imtutned m the arnounh and I*t•r life prntds that I ender require% I he
<br />insurance carrier providing the insurance %hall ix chosen by Horrower %uh!ect to I ender', appro%al which %hall not hi-
<br />unreasonably withheld.
<br />All insurance pr%IIc1e% and renewals shall he acceptabv to I ender and %hall we i ide a standard mortgage clauw
<br />Lender shall have the right to hold t he policies and renewal% It 1 ender require%. Hortum er %hall promptly give 11• Lender
<br />all receipts of paid prertnra•'Itsand renewal notice% In the cent of loss. Iorrower %hall gn r prompt mince a► the insurance
<br />carver and Lender. I melt% may make prt►of of dt' %,1t not made prompt!% by Ifornmet
<br />Unless Lender and il3tlrrower otherwise agree n► writing. Insurance prts:vc•d %shat, 1%c.ipphcd to restoration IIr r4.p.al
<br />of the Proper!) danwged• If the rtwhnrtulm or repair I%econonucaliy fea%Ihlr,tld I euJiiv'%%ccurlt% I% not lowned It file
<br />restoration or repair 1% not econotuwall% feasible or I ender'% iccunl% would t►r lessened, the Insurance Prmceds %11.111 he
<br />applied to the swiss w: ured by IN% 5rcunfy Instrument, whether of not then due. Auh ill% e%t4. %% ;paid 1.% tiortowcr II
<br />8tlrrower abandon% tlty Ipra, re }, I•r iftr% first ,tv.,lser within to tla%% a ner►t,,':•, m I ender that the insurance tarnel ha,
<br />offered to %ease a claino. ;late Lender nu cohleaer the insurance I- r,x:cc,, I ender um, .:%t• "1:•• pt,%'eei!y *•r1.Ilc t r rt•%Inre
<br />the Property or to pay %unI% secured N, this kcunly Instrument, whether or not Iht•r. ;! rte )lit' 1•erlott :t..j hcgla
<br />when I he nrlt• „ :,e s itn ea.
<br />Unles% Lender and Horrower olhe'rwtw agice 111 w Ming. ,ills allplkat ion tit Ph % I•C1 :% ho I`VII. i•".11 ih.111 Ilt,f t•%felld or
<br />postponetheduedalcofthe monthly pay ment% refer red its Ili parsgraph% Ia ot l: Ill . h.rl, r~e :h.4..ir._•1-ur%-fthepaymcnl% II
<br />under naratrranh 14 the Pr...wrty .. ........ r...1 I... 1 ....At.,
<br />- - - .—•-: •- -�—.. __. , ... . : : :•� :: � ::r,... .. .:::. :::•.::: _.:.:: � .::; -. «call : � :.
<br />from lama;!: ru the PIt•+prrl'y pro, It to the k4tit%trion shall pa%% t,1 1 endt•r tit the•c%t,er,I ,I' W�,C •lifts set ulcd h% tkL ht. urlt}
<br />Instrument 1rriffmlfatel% pnt,r fit rttc.tt.,lule Int,rl
<br />6. Preaetvatwow sad Mainkmance of Proetrty: Lenwholds. HI •rr,,wer % .tiI r., r trc%�, .i.un.lge tar submailu4111%
<br />change the Prolwrty..sllow the Properly f,, d'erertt,rafe or t:rinnut w.I n• ff riri, sr, 11nr% In %rrnuvcol 1% ,m a leawhold.
<br />Horrower shall comply with file pro%I %Ion%of the ie.jw. anti If llortimer ;kilt :; • t,•, r.11t t,• tr,: tit, •r,rrt%. the least•ht►ld and
<br />fee title %hall not merge unless I ender agrees to the nle•rgel fit w t iting
<br />7. Protection of Lender's Rights in the Prupertp: Mortgage Inot,uronce. If Ili /rr.mcl tat!% to Iscoolm the
<br />ca%enant%and agrecnlelu%comauled m thI%kcunr% Instntmew. ,,r there I% a Ica al pl.srrthng that 111.1% ilgolht.11111% .111co
<br />1 ender'% right% In the I'n %party ( %ueh a% .1 pr,aellhng III hankruptt %. Illt•tmic. flit t.Illdlllltl,ll1, 11 ,,I h, t•Ittttltt• I.Iw% „I
<br />(CSUTAII00 %). then 1 ender in.l% do Jnd pa% tat w heal' %e,r N Ill %e%%.,v % .altl I Cutlet % tl►ht%
<br />In the Property lentler'%arursn% 111.4% nlclude P.I%nlg am sums %ct11rctl h% .I hill %%filth has prt.,rlt% .NCI tit.% st,ultl%
<br />Instrument. appcatlllg Inl1%IIfI. 1/a %Ills tt•a%tniable itIsnliv%% fee-. •Ill,! . ' 1 1 1 , • ( 1 1 1 1 ' „h Idle I t'-pt•IIs It, (that. Iirll
<br />1 ender nla% take action under Ihls paragraph
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<br />Any mlitsuoi%doburssl h% 1 co,lt•r 1121,14.1 1111% pataizia 1.11 " %11.111 ht•,.•1 fit .1,I4t I I 1 •11.11 dtI" -•I 11. -11, tit I . , ..t„I l,% 0.1,
<br />•R -utII% 111%tllont 111 I flies♦ Kltlo%el Auld I entire .!ghee t-'. otht•I Itlln %.'11•.t%tn. r.t •I,. ., tin. 1 r, .t tI••m
<br />the d.slc ..t dl%hur%t11unl it the \,• , ,t, ut,l %t 111 IN 1•.,%,,,I, .t-,r t I II •II• w.
<br />teyu"tnK Iwo meat
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