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89,... 103947
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />L Payment of Principal and Interest; 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 charger due under the Note.
<br />2, Funtis for Taxes and Insurance. Subject to applicable law Orton 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 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 he 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 />i 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 />j Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />i requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />j 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,#cW. iq tbt Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Security instrument-:
<br />If the dmount of the fr•uh&s he=ld by Lender, together with the future monthly payments of Ftutds payable prior to
<br />the due dates of the escrow items. Shull exceed the amount required to pay the escrow items when dues the excess shall be, .
<br />' at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payrnsectts of Fun& If flit
<br />F amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Len6r' any
<br />1 amount necessary to make up the Mcicncy in one or more payments as required by Lender,
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall prvtnlrtby 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 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 Payments, Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I iutd 2 shall be appliedrfim to late charges due under the Note; second. to prepayment charges due under the
<br />Note, third, t(ismounts payable under' J*ragraph 2; fourth, to interest due, and last, to principal due
<br />4, ChWW9 Uets, Borrowez*Rhall Pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority. (wer this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shalt (say these obligations is the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />Pay them otbtinre directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts i
<br />to be paid udder this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidences the
<br />g Payments.
<br />1 =r •. :1 r..„., f,:sy dpi aunt any hen which has priority over this Security Instrument unless Borrower. (a)
<br />� in writing to the
<br />aXem �g 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, legal proceedings which in the Lender's opinion operate to
<br />pKVetrit t!'!' �^f'�'!"- 'm" -t`! ! or. =`+?rf4u == c� °=st3% Iri ai tizL 1"roT:y; or tcj secures from ti�e.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 />i the Pro" is subject to a lien which may attain priority over this Security Instrument. Lender may give Borrower a
<br />notice identifying the hen. Borrower shall satisfy the lien or take one or more of the actions set forth above within IQ days
<br />;t of the giving afnotice.
<br />S, >l Iaaaraaee. Borrower shall keep the improvi+ rents now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coveirage" 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: tha11 -not be
<br />unreasonably withheld.
<br />All 11RAUJAnce Policies and renewals shall be acceptable to Lender and shall include a standard- mortgage clause.
<br />Lender sdtali )rive the right to hold the policies and renewals. If Lender requires, Borrower shalh promptly give to Lender '
<br />all Mvipts ot paid Premiums and renewal notices. In the event of loss, Borrower shall give prompt - notice to the insurance
<br />caide' r and balder. Lender may snake proof of loss if not made promptly by Borrower. _
<br />VilleOlender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration. or repair _
<br />' of the Prop", damaged. if the'restoration or repair is economically feasible and Lender's security is not lessai®d. If the
<br />restoration or, repair is not economically feasible or Lender's security would'be lessened, the insurance proceeds shall be
<br />applied to the sutras secured by this Security Instrument, whether or not that due, with any excess paid to Borrower. If
<br />Borrower abandons, the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />i ollered to senla a claim, then Lender may collect the insurance proceeds. Lender may use the roceeds to repair epair or restore
<br />the Propetty,6ir to pay sutras secured by this Security Instrument, whether or not then due The 30-day period will begin
<br />when the notice is given.
<br />i Unless Larder and Borrower otherwise agree in writing, any application of proceeds to rind
<br />postpone the due date of the monthi principal shall not extend or
<br />y payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />udder paragraph 19 the Property is acquired by Lender, Borrowees right to any insurance policies and proceeds resulting i
<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 prW to the acquisition.
<br />Maitttcmme of Property; Leaselioltls. 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. Prateetioa of Leader's 1R10ts in 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 1
<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 Iten which has priority oker 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 tkirrt7wer ,ccured by this
<br />Security instrument. Unless Borrower and Lender agree to nthcr term~ of pay merit, these amounts shall tear
<br />the dai_ of dishur,.;rc;,t at tlty flute rate and shall he p.iyaMc. with interest upon notice from I.ender to liorrq�M. r w
<br />resuming paynirni
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