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<br />90-105607
<br />UNIFORM COV @HANTS Borrower and Lender covenant and agree a% fidlow,:
<br />1. Payment of Principal and intereelt Prepayment and Late Cliarges, Borrower %hull promptly pay when due
<br />the principal of and interest an t he debt evidenced by the Note and any prepayment and hate charge %due under t he Note
<br />2. Funds for Taxes and insurance. Subject to applicable law or to a written waiver by lender, Borrower shall pay
<br />to Lender on the day monthly payment% are due under the Note, until the Note is pail in full, it sum t" Fundoo,") equal to
<br />re one - twelfth of: (a) yearly taxes and assessments which may attain prnnty o%er this Security Instrument; (h) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly haiard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow item%." Lender may e%ttrnaie 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, analyzing the account or verifying the escrow items, unless
<br />j 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 lu lure 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 />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 a% required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender Ocafl promptly refund to Borrower
<br />any Funds held by Lender. If under.parsagraph Iq the Property is sold or acquired by Lert%aer. Lender shall apply, no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, anv 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. Unless applicable low provides otherai.:isr, all payments received by Lender under
<br />paragraphs I area+ 2 shall be applied: firs!. to late charges due under the Note; second, It- prepayment charges due under the
<br />Note; third, to a.^rt aunts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Charges; Liens. Borrower shall pay all' taxes, assessments, charges. tines and impositions attributable to the
<br />Property which may attain priority over this 1,1e4:u6gy Instrument, and leasehold payments or grround rents, if any.
<br />Burrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that mariner, Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish Ko Lender all 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 discharge any lien has over ilat.+ Instrument unless Borrower: (a)
<br />promptly which priority .i4cunty
<br />agrees in writing to the pay-ment of the obligation Secured by the lien in a manner acceptable to Lender; lb., contests in good
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<br />faith the lien by, or defends against enforcement of the hen in, legal proceedings which in the Lender's opinion operate to
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<br />i prevent the enforcement of the lien or forfeiture of any pan of the Property; or (c) secures from the holder of the lien an
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<br />agreement satisfactory M Under subordinating the lien to the Security Instrument. If Lender determines that any part of
<br />the Property is subject to a hen which may attain prionty over this Sevur.iv Instrument, Lender pray give Borrower a
<br />not identifying the lien. Wvrirower shall satisfy the lien or take one or more or lire actions set forth ahwe within 10 days
<br />Of the giving of notice.
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<br />S. Hazard lasurtu ce. florrowe.r 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 />requires insurance. This insurance shall be maintained in the amounts and Car the period% that l ender requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower subject to Lender's appro%at which shall not he
<br />unreasonably withheld.
<br />All insurance policies and renewals shall he acceptable to Lender and shall include a standard mortgage clause
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<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to lender
<br />all receipts of paid premiums and renewal notice%. In the event of loss, Morrow cr shall pave prompt notice to the insurance
<br />carrier and Leader. Lender .rrray make proof of loss if not made promptly by Burrower
<br />Unless Lender and Burrower otherwise agree in writing, insurance proceeds %hall he applied to restoration or repair'
<br />of the Property damaged, if the resumation or repair is economically fea%ihle and Lender's security i% not loy%eneol. If the
<br />restoration or repair is not economically feasible or Lender'% security would he le%%entd. the insurance procceds shall be
<br />applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Bc►rrowcr. If
<br />Burrower abandons the Property, or does not answer within .10 dav% a notice front Lender that the insurance carrier ha%
<br />offered to settle u claim, then Lender may collect the insurance proceed% Lender may use the proceed% to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due the MI day pentxi will begin
<br />when the notice I% given.
<br />Unless Lender and Borrower otherwise agree nr w sting, airy applicat rim of pnM•eed% to principal shall not rxtend or
<br />nnalmieso ttu. At to /ilia nrtha n,1./.t6tw may!nen!t [J.. ,N ehc • n, 4 / hr of
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<br />under paragraph 19 the Property is acquired by Lender. Borrower's right o ►an) m%urance pi►licic%and pr.nc#.A%resulting
<br />from damage to the Property prior to the ac4umlion %hall pass to Lender tit the extent of the sum% %toured by this Security
<br />Instrument immediately prior to the ue4umtioan.
<br />6. Preservation and Maintenance of Property; Leaschulds, lk►rrow•er shall not destroys. damuge or %uWantially
<br />change the Property, allow the Property to deteriorate or comrtnt voa%tc If this Sccunt) Instrument is ilia a leasehold.
<br />Borrower shall comply with the provsion,s of the lease, and d' Borrower acquucy fee title to the Prulwri ). the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in venting.
<br />7. Protection of Leader's Rights in the Property; Mortgage Insurance. If Mortimer furl% ar perform the
<br />covenants and agreements contained tit this Security Instrument, or there is a legal pr4weeding that nias %igntficantl) affect
<br />Lender's rights in the Property (such as. a prot:cWt rg its bankruptcy, probate. Gar %:uudemoution rr to cnfince laws or
<br />regulations). then Lender may do and pay for whateser s nmet,%ars to protect the %alur of the i'oJWtt% .and I ender'% right%
<br />to the Property. Lenders actions ma) include paying tiny %um% secured h. a :per, wtitai ha% prt,%ru+ mer tht%St units
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<br />Instrument, appearing in court. !using reaminuble attoro"%' der% and cnterane +•ra .hc !'%..purl t.• tttat%� repair% Although
<br />Lender may take acti(m tinder tram parat r.tph ". I ceder d,» nova h.i %e i,, do %.
<br />Any amounr% dr4Nu,u%.,J hs 1 ender under atot. p.trat i'drit .ha:; hey. rci .,,:diurnal debt r-f H.•r -• ,tier set. U7M. h% Iii .
<br />Security Instionwar 1."rgh.,,•• Il►rrowei and I ender agree to other terse%%.4rx.,nent. these mi uunt% %nail be.tr or
<br />the date of dnhuii%erat, w at the Note talc .►rid %hall be rr,_..u•ec. w ct ;i•.t. ut%m n,�tnr ti,,m I rn,lc-i t. If. .. %%rr
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<br />requesting payGirizonf
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