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89-w 103535
<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows:
<br />1. Payateat of Principal mw lnterost; Prepayment rind Late Charles. 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 />L Fmtait fa Tisxes m" laattntace. Subject tsspplicable law or to a written waiver by Lender. Borrower shall pay
<br />to Leader 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 payonents or ground rents on the Property. if any; (c) yearly harard insurance premiums; and (d) yearly
<br />aor%W inautnaace Premiums. if any. These items are called "escrow items," Lender may estimate the Funds due on the
<br />basis ofewrent data and reasonable estimates of future acrow items.
<br />Time Funds sh&U be held in an institution the deposits or accounts of which are insured or guaranteed by a federal our
<br />arena,,, (including Lender if Leaner is such an iimtitution). lender shall apply the Funds to pay the escrow items.
<br />Larder may not cltiarge. for holding and applying the Funds, analysing the account or verifying the e s tow items. utxiera
<br />Lender pays 9000M unrest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in "tct that interest shall be paid on the Funds, Unkss an agreement is manse or applicaW few
<br />t WAm interest to be paid.. Larder shall not be required to pay Borrower any interest or earnings ea the Funds. Lender
<br />shall give to Borrower, without charge. an. annual accounting of the Funds showing credits and debits to the Funds "the
<br />Purpose for which each debit to the Fund %was made. The Funds an 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 payineots of Fua s payable prior to
<br />Ukdue dates of the escrow items, shall excftd the atmc*v:czmt required to pay Om ewrow items, when due, the excess shall be,
<br />it lgorrower's option, either pranpdy rtp ai . pea Bbm maur or credited to Bono wtv on mtoe dly payments of Funds, If the
<br />amount of the Fuatb held by Lender is not sircient to pay the escrow items when due, Bim' avm shall pay to Lax6trany
<br />1101010011 necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by iSbis Security Instrument, Lender shall promptly reirmW to Borrower
<br />any Funds held by Lender. If under paragraph 19 titre Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior to the sale of the Property or'tts 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 />S. ANifeadso of PRynswL Uatless appliicabie law provides otherwise. all P11y0i W$4 received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment dur.,ges due under the
<br />Now third, to amounts payable under
<br />paragraph 2; trriatctlm. to interest due; and Last, to princip11tiiirce
<br />Property which 4. Csrgaii; 14w Barrs't$r `= �: pay aB tattles. assetsmermts, charges. times andb wMasktazt m attributable to the
<br />BwOwel 111111111 may 11twn priority orer this Security Instrument, and kaaehold payanetcts ev Sround rents. if any.
<br />pay these obligations i0 the manner provided in paragraph 2. or if not paid in that mutter. Borrower shall
<br />pay them on time directly to the ptsrsons owed paymtent. Borrower shall promptly furnish to Lender ale notices of amounts � to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promntty fiunith in y Anetar
<br />*CU91Pa c.ioomcing tits payments.
<br />Borrower shall promptly dhacharge any lien which has prWty over this Security Instrument unless Borrower. (a)
<br />agrees in writing to the payment tithe obligation secured by the lien in a manner acceptable to Lender. (b) contests in good
<br />faith the lien try. or Wends q ime W�,,..�.,�t of �� � � - -- ., � • • so operate to
<br />Few the enforcement of the lien or forfeiture of art � � � WW in elm t're ia:mder't; , potion --
<br />t s11tisfac y P� Of the may; Or (c) secures from the lidder of the lien tut
<br />INVII1nnera tory to Ieet r subordinating the Ihm. to this Security Instrument. if Lender determibeft that any part of
<br />the Property is subject to a lugs, which as ay attain prictity over this Security Instrument,. Leader t6ay ,give Borrower a
<br />lotiee identifying the lien. Borrower she'll s isfy the ►,ierm or take one or more. of the actions set forth shove within 10 days
<br />aftbe giving of notice. ;
<br />S. H herd lemraaee- Borrower shall keep lite improvements now, a sisting or hereafter erected an the Property
<br />insured against loos by fire, h zxrds included within tee" "extended coverage.* and any other hazards for which Lander
<br />requires 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 Leah, be
<br />wwanoeably withheld.
<br />wu insurance policies and renewals stall be. aWATtable to Lender and shall include a standard mortgage clause. `
<br />LaWer shall have the right to hold the policies and rasewals. if Lender requires. Borrower shall promptly give to 1. rader
<br />all receipts of paid premiums and renewal notices. In the event of lcsms,. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of lass if not made pronwly 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 ecoomically feasible and Lender security is not Ir~asermM. If the
<br />restoration or "Pair ,is not economically feasible or Leader's security would bel p- - P Pd, the iitnseranee proceeds shall be
<br />applied to 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 notice from lender that the insurance carrier has
<br />tiffil d to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair nr reatore
<br />tlta Property ar to POY turns secured by this Security instrument. whether or riot then due. The 30day period will begin
<br />wk u the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or
<br />postpone the due due of the monthly payments r efe:rred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />under 11111ragrspb 19 the Property 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 Leader to the extent of the sums secured by this Security
<br />Instrument Immediately prior to the acquisition.
<br />g- Prmw"doa s d Maiateaaace of ProperW. L ueboitia Borrower shall not destroy, damage or substantially
<br />change the Property. allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold. ,
<br />Borrower shall comply with the provisions of the tease. and of Borrower acquires fee title to the Property. the leasehold and
<br />fee title shah; WA riwat an;cw Lender agrees to the merger in writing.
<br />7. rrawetiso of I.eaelrr's Riots in the Progeny; Mortgsage lasaraaee. If Borrower fails to perform the
<br />cOvcm is and agreements contained in this Security Instrument. or there is a legal proceeding that may significantly affect
<br />LeWer't rights in the Property Ouch as a proceeding in bankruptcy, probate. for condemnation or to enforce laws of
<br />r gulatsow). then (.,ender may do and pay for whatever is necessary to protect the ►slue of the Propeny and Lender's nghts
<br />L'a the Progeny Lenders acttciru may include paying arsy sums secured by a lien which has priont) over this Security
<br />lratrusunt, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs Although
<br />Leader may take action under this paragraph 7. Lender does not have to do sc►
<br />Any amounts disberwd by Lender under this patagranh 7 %hall t-cop r. -Ad:,: sl dear ::f tinrro�.er :.denied by 111,o 'aecurtty Instrument Unless Burrower and Lerkfsr agtce tcioiher terms of pay ineni. these aniounI% Shah hear interest from
<br />the date d dish irwn :ere at the Note rate and ,hall he payable. with inierem upt,n entire fr,.m I ender to &irrc►wer ..
<br />re+queuing payment -
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