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<br />90 --. 105638
<br />UNIFORM CoVENAN S Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and interest= Prepayawat 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 inapplicable 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 Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Properly, if any; (c) yearly haeard insurance premiums; and (d) yearly
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<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). Leader 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 />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender nay agree in writing that interest shall be paid on the f=unds. Unless an agreement is made or applicable law
<br />Innuirsx interest to be paid. Leader shall no 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 Futids was made. The Funds arc plet,Lp%d as additional security for the sums secured by
<br />"Security Instrument.
<br />If the amount of the Funds held by Lender, together with the fumm monthly payments of Funds payable prior to
<br />the due dates of the escrow items. shall exceed the amount required to pa) +.he escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Narrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items alerr &.: Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency in one or more paymer,s as requited by I.onder.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Horrovter
<br />any Funds held by (Lender. If under paragraph 19 the Property is -AoW :,v acquired by Lender. Lender shall apply, no later
<br />than immediate4- prior to the sale of the Property or its acquisiticirt by Lender, any Funds held by Lender at the time of
<br />opphicatamaasa credit against the sums secured by this Secunty Instrument.
<br />y. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 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. Cam'+ Liens, Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay there obligations in the manner provided in paragraph 2, or if not paid to 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
<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 prionty over this Security Instrument unless Borrower: (a)
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<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) conicsts in good
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<br />faith the lien by, or defends against enforcement of the lien in. legal proceedings which to the Lender's opinion operate to
<br />prevent the enforcement of the lien air forfeiture of any part of the Property; or (c) %ecures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien 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 %hall satisfy i he (ten or take one or more of t he actions set fnrlh above within 10 days
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<br />of the giving of notice.
<br />S. Hasid Ima ante. Borrower shall keep the improvements now existing or hereafter eructed nn the Property
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<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 he maintained to the amounts and for the periods that Lender requires. the
<br />insurance carrier providing the insurance shall he chosen by Horrower %ubject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall he acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the tight to hold the policies and renewal~. If Lender requires, Harrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices In the event of Iaas. Horrower shall give prompt nouce to the insurance
<br />carrier and Lender. Lender may make proof of loss of not made prompt ly by Itorrrower
<br />Unless Lender and Burrower at herwt%e agree to writing. Insurance proceed% shall he applied to restoration ur repair
<br />of the Properly damaged, if the restoration or repair t% economtcaily acasthle and I ender'% security I% not lessened If the
<br />restoration or repair is not economically feasible sir Lender's security would he Ie%%ened, the insurance proceeds shall he
<br />applied to the sums secured by this Security Instrument, whether or tint then due.. with any excess paid to Borrower If
<br />Borcewer abandon% the Properto,. ar does not answer within 30 days a notice front Lender that the insurance carrier has
<br />offered re settle a claim. then 1 ender may collect the insurance proceed% Lender may use the Proceeds to repair or restore
<br />the Property or to Irsay sums secured by this Security Instrument. whether err not then duw Tke 10 -day period %L sit hessm
<br />when the notice is seven.
<br />Lnlms I -under and Borrower otherwise agree to witting, an. application A rrmec.l% m principal shall not extend
<br />ps rwww the due date of the m.xtrhly payments referred to to paragraph% I and : or s•hange the amount of the pa%mcnt% If
<br />under i-mragraph 19 the Prerperry is acquired by lender. Burr(,wer'% right to mn, uL,4urance policies and proceeds resulting
<br />from damaite to the rrnpeny prior to rite aacgtu%ition %haii pass to i cotter In the extent of the rums secured by this security
<br />Instrument antamedsalely prior to theacyua%ttion
<br />6. Preservation and Maintenance of Pro;wri): Leawhoddu. horrowrr %hall not destroy, damage or %ubstaargill
<br />change the Property, allow the Property to dnerustate of commit waste It r.ht% Sccunty Instrument Is on a leawhs-id.
<br />BtKrswaer shall comply with the pru%mon% of the least. ace.t tf lie >rrcrwer ar4urres fee tick it, the Property, the lea%ehou aced
<br />fee hrk shin!! not merge unless I ender agrees r. r the rnerper m a rtrin K
<br />7. PinotutWa of Usher's Rialtts is Ilk Prep ► : ♦tort{rW Intwrame. If it,+rro%cr file its pett:+rm The
<br />co% enainttsandagreementscontained its thi stie.urtryInstrumeni.orthere %.s'coalrr. Rev dvng that mar %igmfi.antlysr'fr.r
<br />Lends r's. rights in the Properl% Isuch I% i prt%XW1nit rn hank(uPtcc. pr,+hare G,r condenuwtion or to enfot.e law% or
<br />regulations), then Lender may do and pay for %%hatescr is neresurp ro panem the salue ref the Prorcm. end I ender'% riphT%
<br />to the Property Lender's actions m4% Include pl)tng any %um% %e %ured by a hen which has priorit% user this 1e.t.rttr
<br />Instrument, appearing in court• PayIng rea%anahle attorneys' fee. and entrrang ,it the Propert% to make rclmir% Although
<br />Lender may take action under this ratagraph '. I ender doe% not ha%e to do W V
<br />An) atnountsdeshur%Ld M I ender under ihi%pmAgraph' %hall t+e.onar aJdulrm,rl arht .•t lloriowrr %et med h% this
<br />Security ln%truntent Unks% [kit rowci iod I rndet ague toot her ter nl%,d P•:smctrt rhr %r ,uu,•unt% %hell t.r•.0 u=nite• %t fIoin
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<br />the date of di%hur%elnCIII at the time rate and shall he pa%ahle. Mlth mtrre%t ul•.•n n "Il't tt••nr 1 older r•• 11,•rr+,uct
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<br />requesting payment
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