|
r
<br />,. -r-
<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows: q(� -105569
<br />1. Paymat oiP'rladital and Intetcsst; Pmpayateat and IlAte Charges. Borrower 1911 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 Ta :a ant Iasurance. 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 />owts-elflh of: (a) yearly taxes and assessments which may attain priority over this Security instrument; (b) yearly
<br />1' leasehold Iinyments or ground refits 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 />'Be 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 Leader is such an institution). lender shall apply the Funds to pay the escrow items.
<br />Loftier may not charge for holding and applying the Funds, analyzing 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 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 />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 />I 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 in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold 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. Application) of Payments. Units.% applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charge% due under the Note; second, to prepayment charges due under the
<br />' Note; third, to amounts payable under paragraph 2; fourth, to interest due; and lust, to rrincipal due.
<br />;. Cluwatb; L t". Bus towet shAl µ1y all taxes, iisarvaotcnti, cliargcs. fhuas slid to the
<br />I Property which may attain priority over this Security. Imtrument. and leasehold payments. kv ground remit, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph '.or if not paid its th.iit; manmr. W *-n *wcr shall
<br />I
<br />I pay them on time directly to the person owed payment. Burrower %II-A ,promptly furnish to Leader. a0P n.�tice• n:' aroa�uuc.
<br />to be paid under this paragraph. If Borrower makes these Ya.ments direct! y, Borrower shall promptly furnish t. Lender
<br />} '
<br />receipts evidencing the payments.
<br />_
<br />Borrower shall promptly discharge any lien which has priority liver thi% Security In%trummr unless iorrower: (a)
<br />! -
<br />agrees in writing to the payment of the obhgatto".ecure:d by the hen in a manner acceptable to Lender: (b) contest% in gokld
<br />faith the lien by, or defends against enforcement of the ben in, legal prmcedmgs which its the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secure% from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines shut any part of
<br />the Property a ae b.je t to a lien which may attain pnorny over this Security Instrument, lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy epic lien or lake one of more of the action %et forth above within 10 dais
<br />of the giving of notice:.
<br />IS. Hazard Insurance. Borrower shall keep the imptovenicnts now existing ar hereafter erected on the Property
<br />insured against loss by fire, hazards included within the terns "cmende d coverage" and any other hazards for w Which lender
<br />requires insurance. This insurance shall he maintained in the amounts and for the perimb that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's arproval which shall not he
<br />;
<br />unreasonably withheld.
<br />All insurance policies and renewals shall he acceptable to lender and %hull included standard mortgage clause.
<br />Lender %hall have the right to hold the policies and renewals. If Lender requires, tiorroiw•er %hall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the eveni of Ion%. Borrower %hall gme prompt notice to the insurance
<br />j carrier and Lender. Lien ter may snake proof (if kiss if not made proinpeli• h, Borrower.
<br />�=
<br />Unless lender said Borrower otherwise agree in w riling, in%uravve proceed% %hall he :applied u% reuorauon or rep:.ir
<br />ice'
<br />i of the Property damaged. if the restoration or repair is a conomcalh feasible and Lender's %cunt% is not lessened. If the
<br />i
<br />i restoration or repair I% not economically feasible or Lender's wcurit) would he le%wned, the in%urance limcred% shall Ix-
<br />applied to the sums secured by this'Securit) Instrument. whether or not then due, %roeh any excess paid to Iorrower If
<br />Borrower abandons the Properly. sir Joe% nr*t Answer within .u) day% is noliee from I ender Thar. the inwrance carrier ha%
<br />ofrered ito stick a cl:aum, then lender may cotleo Ac insurance pniceed% Under may use, the priwred% to repair or re%to ole
<br />Me 1"wfwn*. or topa9 sum% secured by this Security In %trument, whether ar nor thest due the 1iL41y pen,wj wilt began
<br />when th,e nMiet is gi%rn
<br />I Ui ;om Lender and Borrfmikeir.nherwise v lee 111 l•,ra"—w, ,tit) a ileall,%11 •,� A r'% "eat• t•, ^�ti, '1 it %k;lll ;n.,r -
<br />g w l%p i {�: -mend „r
<br />--
<br />jpoaatpottr flier taut date of the moni Wy payments referred in tai paragraph% I and ur .•hangs t he arnoount 14 the R.
<br />undo llaitagra& V* One Property is. acquired by lender. Wrrow•er'% right it, aril inwrance poll <cts, ived proo!eds r, %Ullgv:
<br />t.. mA..r......, V,. MAC lib— ... t. a L, ILaw ..,w..v .6'11 ,•. -. . ,.. 1 .«..1... I..,6 .. ......... ..I. 16.. .,. r.l 1... aM,. t.......,.
<br />... -'0 ..... . ..I-� ,y I!..... .hjC.:elm. __._...... .. �._.... .......... ,.... ...........� ..... +....... ............ ,
<br />Instrument immediatel) poor to the acqumlion
<br />j6. Preservation and 1laintenanceof Property, leaseholds, Fiorruwer% hall not dorm ro y,damageur%uh%t ant iafly
<br />change the Property, allow the Property to deteriorate ur commit wa%te If th1% %tcurity In%trunlint is. tin a ka%ehuld,
<br />Borrower shall comply with the provisiom of the Ica%%, and if Borrower acquire% fir title to the Property . the leasehold and
<br />fee title shall not merge units% I ceder agrees to the merger in w riling
<br />'-
<br />7. Protection of Lender's Rights in the Property; Moirtplic Insurance. If Burrower Lail% it, perform the
<br />cotenants and agr timeniscontatned to thi%%ecurity In %Iruinern. or there i%a legal ptoreedaig that 111.1) %ignitivanih affect
<br />i
<br />Lender's rights. in the Property (vuch w% a proceeding in hankruple), probate, for condemnation or sal enforce law% ,at
<br />i
<br />regulation%), then i ender may do and pay for whate%er i% neves%ary to proteo the value of the liniperty and 1 ender'% right%
<br />in the Property l ender'%action% ma) include paying any %uni% %enured h) a hen which has praaann over IN% tir:urit)
<br />Instrument, appearing in court, paying reasonable attorney: tee%,aud entering on the Prefect) to make repair% Although
<br />Lender may take action under the %pinragraph 7. l enderd(c%not have tads %a
<br />An) l 7 hr%rt,a Ilotro%cr h%
<br />raruount%di%hur%e%Ih,% ender under this paragraph %hall addun,nal dehi of %r% urnd till.
<br />Scvuwt Invtruntent linle,% 11„rrowet and l ender agree loather tern+ %,d lia%111int. them- a11l "11111% 01. 111 h•.ar irli -io%t tn•nl
<br />^,
<br />the date %►f Ihshur%roirot at the %OIC rest .and %hall tie pa%ahlr. %s 11h lru -l-%1 11roll n„tl„ ,rain 1 CmIcr to Hot fowcr
<br />request inll pay men!
<br />J
<br />,• .
<br />
|