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894::. 103851
<br />UNIFORM COVENAMS. Borrower and Lender covenant and agree as follows:
<br />L Paytaaaat of PriKIMI anti latsttwq PMM-MI t anti Late Ckaroc 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. Faatis lbw Taxes nest Gwrmee. Subject to applicable law or to a written waiter 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 ( "Futuls ") equal to
<br />one - twelfth of (a) yearly taxes and ass aements which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />tettu'4W inwrattoe ptaniwm% if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />battlaofeatrreut data and reasooableestimates of future escrow items.
<br />The Funds shall be held in an bl ultution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Leader is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may no 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 shlsll 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 pte4ed as additional security for the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funds hold by Lender. together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow itana, Ohall exceed the amount required to pay the escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly xq*d 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 %pder 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 stuns secured by this Security instrument, Lender shall promptly refland to so' er
<br />any Funds held by Lender. If under paragraph 19 she 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. Ae time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs l and 2 shall be applied: first, to late charges due under the Nom, iiecond, 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. Curless Lisa. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Inert ame nt, and leasehold payments or ground rents,. if any.
<br />Borrower sbaff pay these obligations in the manner provided ire. p aragraph 2, or if not paid in that: manner, Borrower shall
<br />PAY then on •tare directly to the person owed payment. Borrower shall promptly furnish to Lender ell. notices of amounts
<br />to be paid under this paragraph. If Borrower mains- these payments directly, Borrower shall promptly, furnish to Lender
<br />.teoapts evidencing thepayrneuts.
<br />lira visawn ilia priority over ibis jCCUrity instrument unles 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 good
<br />faith the liar 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 Hart of the PronerM or (c) gi ores from the h4- de- of the lien s*
<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 />e notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Haatrd Iassraace. Borrower shall kertp the improvements now existing or hereafter e>.^6aW on the Property
<br />insured against lam by fits hazards included withbT.'the term "extended coverage" and any other haz" for which Lender
<br />requites imwrance. This insurance shall be maintained in the amounts grad for the periods that i;ciufes requires. The
<br />r ` inwrance earner providing the insurance shall be chosen by Borrower subject to Lender's approval 4hich shall not be
<br />unmssoa &Y,writhheld.
<br />Alf.4murance ptilia'ies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Leader shall have the light to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender i
<br />all receipts.Opad premiums and renews! notices. In the event of loss. Borrower shall giveprompt notice to the insurance
<br />carrier and Leader. Lender may make proof of loss if not made lmxmptly by Borrower. ,
<br />Unlest Lender and Borrower otherwise agrees in writ in& insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is. ecmarnically feasible and Lenders security is not lessened. If the
<br />restoration or repair is not economically feasible or L:endees *xurity would be lessened, the insurance proceeds shall be
<br />applied to the sums se cared 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 30days a notice from Lender that the insurance carrier has
<br />: o0red to utdc aclaim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or-to pay so= secured by this Security Instrument, whether or not them due. The 30-day period will begin
<br />when the notice it -jgvm_
<br />Unless Lander od Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change tht' amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Pressrvatlaa sad Mainteasioett of Property; Lesseiolds. Borrower shall not destroy. damage or substantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property. the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7- Protection of Le:aderis Rlg(O is the Property; RolortgW Iasaraace. If Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate. for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lenders rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has pnoniy o,.er this Security
<br />Instrument. appearing in court, paying reasonable attorneys' Fees and entering on the Property to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security instrument. Unless Borrower and Lender agree to other terms of payment. these amounts shall hear mter(st from
<br />tie da!e of do- JL•r;ci :rat sir the N'oic rate afed siiali be payable. with interest. tipon notice tram i ender to fiorrouer
<br />requesting payment
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