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$9' 103897
<br />UNIFORM COVENANTS. Borrower and Gender covenant end agree as follows:
<br />1. Payment of Principal tend latest; Prepsywneat and Lane Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and anti prepayment and late charges due under the Note.
<br />2. Fwd% tar Taxes sad Issmamm. Subject to apphoble law or ton written waiver by Lender, Borrower shall pay
<br />to tender 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 Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />monpp 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 depeasits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including I.asder if I.eoder is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />I.ertder may not charge for holding and applying the Funds, analysing the account or verifying the escrow items, unless
<br />Leader 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 />shW 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 Leader, together with the future monthly payments of Funds payable prior to
<br />the due data 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 al) sums secured by this Security Imatirament, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior to the sak 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. AppKeetWe of Payieesta. Unless applicable law provides otherwise, all payments received by lender under .
<br />paragraphs t and 2 shall be applied: first, to late charges due under the Note; second, to prepayrment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />d. ClarW Liss. Borrower shall pay all taxes, assessments, charges, fines and impositions attributabk to the
<br />Property which may attain priority. over this Security Instrument, and leasehold payments or ground rents, if any
<br />Borrower shall pity these obligations in the manner provided in paragraph 2. or if not paid in that manner, Borrower spas 1
<br />pay them on time directly to the person oven d payment. Borrower shtelt promptly furnish to Lender all notices of amounts
<br />to be under this h. If Borrower makes these
<br />paid paragtap payments directly, Borrower shall promptly famish to Lender
<br />receipts evidencing tee 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, (b) contests in good
<br />faith the lien by. or defends against enforcement of the lien in, lei proceedings which in 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 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 alien 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 days
<br />of the giving of notice.
<br />& Harvard Inswimee. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the tern "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 chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage cl'iuse,
<br />Lender shall have the right to hold the policies and renewsis. If Lender requires. Borrower shall promptly give to Under
<br />all receipts of paid premiums and renewal notices. In theevcnt of Coss, Borrower shall give prompt notice to the insurance
<br />:. carrier and Lender. Lender mays make proof of loss if not made prompety by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, rnstrmm:e proceeds shall be applied to restoration or repair
<br />of the Property damaged. if the restoration or repair is economically feasible and Lender's security is not lessened. if the
<br />restoration or repair is not ecormInically feasible or Lender's security would be tesserted. the insurance proceeds shall be
<br />applW.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 widtirt 30 days a notice from Lender that the insurance carrier has
<br />ofiered'io settle a daint, then Lender may collect the iti=rmce proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Swuhty ttistrument, whi4her or not then due. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and 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 the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Bomower's right to any insurance poiisa,es and promm& resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sitrms secured by this Security
<br />instrument immediately prior to the acquisition.
<br />6. Preservation rued Malateatace of Propetrja, Leaseholds. 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 riot. merge unless Lender agre:a to the merger in writing. p
<br />7. Pre>rteetioa Of Leeaier's Shots Is the Property; Mortgage Insurance. 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 Lender's rights ^;
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security s
<br />Instrument, appearing in court, paying reasonable attomeys' fees and entenng 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 t.enden under this paragraph 7 shall become additional debt of Roi rower secured by this
<br />Security Instrument Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from ,
<br />the date of disbutwinent at the Note rate and %hall be pavable. with interest. upon notice from tender to Borrower
<br />requesting payment
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