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90-- 105589
<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follow%:
<br />1. Payment of Priselpel and Intereuti Prepayment and Late 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 charge% due under the Note.
<br />2. Funds for Taxes and lint nsace. 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 Sectnrnty Insrument; (h) yearly
<br />leasehold 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 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, analysing 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 array 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 Brxrower. without charge., an annual accounting of the Funds showing credits and debits to the Funds and tlrt :•
<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 -r,-.,:aid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />stmount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in frill 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 Propem is sold or acquired by Lender. Lender shall apply, no later
<br />thou immediately prior to the sale of the Properly 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 />& Application of Paymests. Unless applicable law provides otherwise, all payments received by Lender under
<br />t paragraphs 1 and 2 shale ire applied: first. to late charges 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 last. to principal due.
<br />4. Charm- [Jens. Borrower shall pay all taxes. a%.wt.,u penis, charges, fines and impositions attributaMe -to iihe
<br />Property which may attain priortty c-.er this Security Initrurocnt, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these oWigut0n% ire she manner provided In paragraph 2, ,or If not paid In that satanner, Borrower shall
<br />pay them on time direct(} to the person owed paymew. Borrower shall prompily furnish to (.ender ail notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b►contests in goad
<br />faith the lien by. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) %ecurc% from the holder of the lien an
<br />t agreement satisfactory to Lender subordinating the lien to ths% Security Instrument. If Lender determines 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 hen or take one or more of the actions set forth above within 11) days
<br />of the giving of notice.
<br />j S. Hamrd Insunumae. flmower shall ket 1 the improvements nt%w rioting or hereafter crecsw:i on the Properly
<br />i insured against loss by fire. hazards included within the term "extended coverage" and any other hazardx (or which Lender
<br />requires insurance. This insurance shall be maintained in the amount-, and fior the period% that Lender requer•n. The
<br />insurance camer providing the insurance shall be chosen hr, Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld
<br />All insurance policies and renewals shall he acceptable to Lender semi shall include a standard mortgage clause.
<br />Lender shall Stave the n ha to hold the policies and renewal% If Lender requires. Borra►w•ra shall promptly give to Lender
<br />t all receipts 4paid premiums and renc4vcal notices. In the event ,of less. & -wrrower shall gi %v prompt notice to the in•+vrance
<br />carrier and Lender. Lender may make: yroof of lose If not made p,roMptly by harrower
<br />Unless Lender and Borrower otherwise 4giree in writing. Insurance proceeds shall he applied qo !r%toration or repair
<br />of the Property damaged, if the restoration or repaia to economically feasible and Lender'% %ecufity o. nut 1"%ened. 1f the
<br />restoration or repair is not economically feasible ae Lender'% security would he le%%entd, the Insurance proceeds shall be
<br />applied to idle sums secured by this Security Instrument, whetber or not then due. with any excess paid to Boa -acr If
<br />Borrower Wt-andons the Property, or dtvs not agaswer within .10 days a notice from Lender that the Insurance carder has
<br />r4eml to seede tt e1pim, thin 1 ender may eollea, rb,• tt»araner proceeds. Lender may u.c the rr:a rr,t. r�., reltpat• ..o.;.rr
<br />the Property or to pa} scums secured by this Sccunry Instrument, whether or not then due the t91 -dal. period wdai begin
<br />when the notice is given
<br />Unless Lender and Hinrraer otherwise agree In wriunyr, any apphcauon of proceeds to principal shall natr cluvnd or
<br />postpone the due date of the monthly payments referred to In paragraphs I and 2 or change the amount of the pay ments U
<br />ntar4r tirratinra 10 tlar Drawtr►au a r.v."ierri Ina I rwar. rl... r[., a.. ...1.. ..d .. rr t. ..b...
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<br />from damage to the Property pnor to the acquiuviton %hall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition
<br />6. Preservation and Malntenaace of Property. Lee selsolds. Borrower %hall not dt_�struy, damage or %uhmanhally
<br />change the Property, allow the Property, to detenorate of commt wa%te If IN% S"urtty In%trurnent I% on a leasehold.
<br />Btirreower shall comply with the pf(M —t* ors tK the lease. gnat if Borrower acywrc% fee title ht the Property, the leasehold and
<br />fee title shall not merge unless Lender agrtts tto thvr mergtr in w rating
<br />7. Protection of tAwkr'e Rights in Ole Pr*Wry: Nun pile Insurance. If Itorrim r fail% to perform the
<br />covenants and agreement%containett in thisSmunt) Wtrutmsr, or there I%a legal prt%:r%dmK that may %ignlficantly affect
<br />Lender's rights in the Property (such as a proceeding In hankruptc). prt>hate, tOr condemnation or it, enforce laws ter
<br />regulations). then Lender may doand pay hor uhateser I% neceswry to protect the %slur of the Propert% and I ender'% fight%
<br />in the Property. Lender's actions may Include paying any %u n% secured by a lien which has pfionty owr ihl% %scum%
<br />Instrument, appearing in court. paying reawnable attorneys' fees And entering on the Propt•tly tit snake repair, Although
<br />Lender may take action under this paragraph 7, l .ender doe% not has a to do w
<br />Any amount% disbursed by I ender under this paragraph *7 %hall hrctnnr .uidnntutal deM tit litarttwci %ccured ho th1%
<br />Security Instrument. [Tnlc.%lltorrower and I ender agree to other let m tit pa%mcw. thew anuvint% shall tx-m inictr%t fhtnt
<br />the date of disbursement at the Note rate and .hall he payable. with it►tcte%t. ulvm 11011tc tenon I rude( tit Itttrtttwrt
<br />requesting payment.
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