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<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follow%
<br />1. Payttteat of Priselpal and laterest; Prepayment and Late Charges, Borrower %hall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and laic charge% due under t he Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written w an er by Lender, Borrower shall pay
<br />to Lender ion the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />r one•lwelfth of (a) yearly taxes and u %%essment% which may attain priority over IN% Security Instrument; (b) 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, 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 eamirip 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 Fundy 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 monthl% 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 pnyments 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 aOO sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. U 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 Paymeats. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied, ftr%t, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paregm rh 2; fourth, to interest due, and last, to principal due.
<br />4. Ckargess; liens. Borrower shall pay all taxes, assessments, charges, fines and imposinons attributable to the
<br />Property which may attain priority over this Security lnstrumem, 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, Wrrnwer shall
<br />pay them on time directly to the person owed payment. I'l rrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments dir elly, 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; ( h) contc%Is in good
<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 pan of the Property. or (c) secures 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 shall satisfy the lien or take one or more of the actions set forth above within l0 days
<br />of thegm*g of notice.
<br />S. iiiatrard Insurance. Borrower shall keep the improvement% 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 for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be choun t•% Borrower subject to Lender's approval which shall not he
<br />unreasonably withheld.
<br />All insurance policies and evnewals shall be acceptat►le k► Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the pohctes and renewals. If Lender requires, Borrower shatil promptly give to Lender
<br />all receipts of paid premiums and renewal notice+. In the rent of loss. Burrower shall give prompt notice to the insurance
<br />carrierand Lender. Lender may make proofof loss ifnoi raade promptly by Burrower
<br />Unless Lender and Borrower otherwise agree in w riling, insurance proceeds shall 1+c applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender'% security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would he lessened, the insurance pr►cceds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. Of
<br />Borrower abandons the Property, or dens not answer within 10 days a notice from Lender that the imurunce carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may u %e the prtneed% to repair or re%tore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 10 -day period will begin
<br />when the notice is given.
<br />Unless Lender and borrower otherwise agree in writing, any application of proceed% to principal %hall not extend or
<br />postpone the due date of the monthly payments referred to in paragraph-. I and 2 or change the amount of the payment% If
<br />tender naranranh 19 the Pnuterty r¢ ikeaurred by 1 nnalor Mirrastwo w right In anv mu,ran.•o n..1 -@• .•rid r.r.r•...•.t. rwub•....
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the %um% secured h% this tiecurty
<br />Instrument immediately pour to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. lk%rrower %hall not destroy, damage or %uhmanually
<br />change the Property, allow the Property to deteriorate or commit waste. If this Swurity Instrument Is an a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Properly, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Leader's Rights ie the Property; Mortgage Insurance. It' Borrower fail% to perform the
<br />covenantsand agrtemients contained in IN%Swcunty Instrument, or there t% a legal priweeding that may %igmftcantly alfect
<br />L.endee% rights in the Property (%wh as a pr weeding in bankruptcy, probatc, fire condenina ivii or to enforce laws ter
<br />rtgullattiwisl, then Lender n'.uy elo.rcJ pry ftrr whatt%er I%necemary to protect the %aiur,�f the Propen'. and lender'% nFhr%
<br />in the Property. Lender's actions nuy include paying any %ums secured by a hen ufts:h ha% prcorin oner rht% Sccunt%
<br />Instrument, appearing in court, paying reavonaPie attorney~ fee%and entering art the Pr•Iperrl It' make repair%. Although
<br />Lender may take action under this paragraph 7. Lender doe% not ha% c to do %o
<br />Any amounts disbursed by Lender under this paragraph 7 shall licconic a.t,irrional debt of Ikrrrow cr %ecured h% i lim
<br />Security Instrument. Unless Borrower and I ender agree to tither term• of pay mint. rhew amounts %hall tear nacre %t front
<br />the dale of disbursement at the Note rate and %hall he payahlc. meth twe'le%1. ulvm notice Irom 1 ender it, Hoirm4er
<br />requesting payment.
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