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90--10 5 610
<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows:
<br />1. Payseest of Principal toad Interastl 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 charges due under the 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 payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />one - twelfth of: (la) yearly tastes and assessments which may attain priority over this Security Instrument; (h) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly horard 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 />Liendev nuy 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 />"I 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 />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 %old 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 acredit against the sums secured by this Security Instrument.
<br />3. Application of Psyatents. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be 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. Cbar= Litmst. P.orrowrr shall pay all taxes, assessnieiiis, chaiges, lints and inlpoailium aitribuiabie iu file
<br />4 Property which May attain priority over this Security Instrument, and leasehold payments or ground rents. if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
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<br />to he paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />:
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over ihi% Security Instrument unless Borrower: (a)
<br />ra
<br />agrees in writing to the payment of the obligation secured by the lien In a manner acceptable to Bender; (h) contests in gum
<br />faith the lien by, or defends against enforcement of the Ilea in. legal proceedings which to the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property, or (c) secures from the holder of the hen an
<br />agreement satisfactory to Lender subordinating the hen to this 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 lien or take one or more of the actions set forth above within 10 day%
<br />1 of the giving of notice.
<br />{
<br />S. Hatrard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against low by fire. hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall he maintained to the amount% and for the perods that lender requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower %ubje'ct to Lender'% approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renemils shall he acceptable tit Lender and shall include a standard mortgage clau%e.
<br />Lender shall have the right to hold the policies and renewal%. If (ender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of boss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of ho%s if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance priweeds shall he applied it) re%torautoa tir repair
<br />of the Property damaged. if the restoration or repair I% economically feasible and Lender'% security I% not le%%eni'ci It' the
<br />restoration or repair is not economically feasible or Lender'% wcunty would he lessened, the insurance proceeds %hall 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 I.rnder that the Insurance carrier has
<br />offered to settle a claim. then Lender may collect the insurance proceed%. Lender ma} use the prt►ceeeh to repair or restore
<br />1 the Property or to pay sums secured by this Secuniv Instrument, whether or not then due the it) -day perii►d ii, 111 hegln
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree In writing, any appitc.stion of pro►cced% to principal shall not extt. ldtit-
<br />postpone the due date of the monthly payments referred to In paragraph% I and 2 or change the amount of llit raprtients. If
<br />under paragraph 19 the Property is acquired by lender, Borrower'% right to any inwrance ptihcle% and prt*tm -,,Ms re%ull ing
<br />from damise to the t►rtwwrtu nru%r i ah....•nu".e...w .,Lum1 .. .... !=dr. ....1... ...... of .1...
<br />Instrument immediately prior to theacquhillon
<br />6. PresemstWe and Maintenance of Property; Leaseholds. Burri►wer %hall not destroy, damage or %uMtantiaIN
<br />change the Properly, allow the Property to deteriorate or commit aa%te If this securm Instrument t% on a Iea%ehuld.
<br />Borrower shall comply with the provisions of the lease, and If Iturrower acquire% sex title to the Property. thlt leasehold and
<br />fee title shall not rnerge unless Lender agrees to the merger to w sting
<br />7. Protection of Lender's Ritthts in the Property. %lortge Insurance. If tii►rrimer fails to perforn► the
<br />covenants and agreements contained In this Seturny Instrument, or there N a legal priwecding that ma% %IKniticantly diTitt
<br />Leader's rights In the Property (such a% a procceding to hankruptc), prohate• tot ,:%indemnition t►1 it) cnlitrce Ids. tit
<br />regulations), then Lender may do and pay for whate%er I%nere%%ar) to protect the vAue ofthe Property .omd Lender's rights
<br />In the Property Lender'% action% may Include paying an% %um% %inured h% a hen which h.%% prlonts o r thl% tieiurity
<br />Instrument, appearing In court, pay ng rc.i onahlc al1tirncy%' fees and enterin(t tin the Property to make rerarr% Although
<br />L Lender may take actNirrl under t hl% paragraph ". l ender doe% not hate to dot %a
<br />Any ar*Kwntsdlsbumed hit I c Ider under this '? shall heiome deht iota b%
<br />paragraph addmttn.►I tit rawer wt. urnt 1h1%
<br />Security Instrument Unkm lkirriwer and ( ender agrrett. tither term%01 PJW1 t,t. Ihe%tr arnttu111%%h.111 hear intere %t Inmi
<br />the Bate of dlshursemel►1 At the late tote mid %h.111 he AIth tit rtt•.t a.•ri,r tr,-tit I itt'1vr t„ N.•t loo,& t
<br />requesting payment
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