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<br />94-- 10808
<br />UNIPARM CovFNAttt•is Borrower and Lender covenant and agree as follows:
<br />1. Payliatia l of Principal sad interaatl Ptrepsyneent said We Chow, Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and lute charges due under the Note.
<br />2. Flaah for Tauten and Invoralim. Subject to applicable 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 t he Note is paid in full, a sum ("Funds") equal to
<br />one - twelfth of: (a) yearly taxes and avemmenis which may attain priority over this Security Instrument. (b) yearly
<br />leasehold payments or ground tents 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 disc on the
<br />bads of eutratt 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 itemit.
<br />Lander 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
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<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 />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 pledged as additional security for the sums secured by
<br />this Security Instrument.
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<br />a If the amount of the Funds held by Lender, together with the future monthly 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 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 snake up the deficiency in one or more payments as required by Lender.
<br />Upon payment in rfuOt of all sums secured by this Security Instrument, Lender shall promptly re.-fund 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 Leader, any Funds held by Lender at the time of
<br />application as a credit against the Sutred secured by this Security Instrument.
<br />3. Application of F*meM& Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall br applied: first, to late charges due under the Note; second. to prepayment charges due under the
<br />Now, third, to amounts payable under paragraph 2; fourth. to interest due; and last. to principal due.
<br />4. Charges; Liens. BorroW%V shall pay all taxes. asses:sments, charges. fines and impositions attributable to the
<br />Property v hixh may attain priority over this Security Instranvnt, and leasehold payments or ground rents, if any.
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<br />Borrower shall pay these obligations in the manner provided iv paragraph 2. or if not pod in that manner. Borrower shall
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<br />pay them on time directly -to the person owed payment. Borrower shall promptly furnish to Lendec- n'll notices of amounts
<br />i to be paid under this paraymph. If Borrower makes these payments directly. Borrower shall prompt :!. furnish to Lender
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<br />receipts evidencing the r ayments.
<br />Borrower shall promptly discharge any lien which has pnority 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) contests in good
<br />faith the lien by, or defe" against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the eaforcemex� of the lien or forfeiture of any part of the Property : or (c) secures from the holder of the lien an
<br />agreement sati4cinry to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property aq subject to a lien which may attain priority over this Security Instrument. Lender may give Borrower a
<br />notice idenri +l ,ing the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 1044 n
<br />of the gS.
<br />Haazard lasurance. Borrower shalt 1,e�r the improvements now existing or hereafter ertecced on the Property
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<br />insured against loss by fire, hazards included within the term "cwt ended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the pern%Js that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lendew . approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a saandard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the even ,cif loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made pi oz raptly by Borrower..
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied for restoration or repr.tr-
<br />of the Property damaged, if the restoration or rrpnir is economically feasible and Lender's %ecurtry. t, not lessened. If the
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<br />: restoration or repair is not economically feasible or Lender's security would he lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due. mth any exc«s paid to Borrower. If
<br />Borrower abandons the Property. or tines not answer within j0 days a notice from Icu 4er that the insurance carrier has
<br />offered to settle a claim. then Lender may collect the insurance prweeds. Lender may ua• the prtrecds to repair or restore
<br />lire Property or to pay sums secured by this Security Instrument. whether tut inn ilicii due. Tits pviitwi will besio
<br />when the notice is given.
<br />Unless Lender and Burrower othem rte agree in vi sting, an) application of prmLcds to principal shall not e%t.end or
<br />postpooe the due date of the months) payments referred to in paragraphs I and 2 or change the amount of t he pa) "tents. If
<br />under mraarsoh 11) the Progeny is acquired b} Lender. Borrower'. nght to any insurance tor. lick% and prtweetJs resulting
<br />from damage tts the PnVcny prior to the acquisamm "I pass to Lender to t he extent of the sums.cv ured by t his Security
<br />Instrument immediately prior to the acyutsiuoo
<br />d. Pretservatloa and Mdatesame of Property. Leaseholds. Borrower shill not de.rrtiy, damage or .uhstantially
<br />change the Property, allow the Property to deteriorate or armour waste If this Security Instrument is tin a Ica.ehold.
<br />Borrower shall comply with the provissonsofthe least:, and if Borrowerac4titres fee title tt the Property. the leawhold and
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<br />fee title shall not merge unle..1 ender agrees as the merger in w riting
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<br />7. Ptodtctioa of Lender's Rights in the Propany; Mortgage Insurance. If Iitirrower fails to rrrform the
<br />covenants and agrcrment% contained in this Socuniy Instrument, or there es a legal procetivding that n►ay signitic a» tI% affect
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<br />Leader's rights in the Property isueh as a proceeding in hankruptc), probate, for condemnation or to tnforce taws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the %Alur of•the I'noperty And I ender•% rights
<br />in the Property. Lender: actions may include paying any sums securest h) a heir which has priority otcr this Sc,", rty
<br />Inmiumcnt, appearing in court, pa)mg reasonable attorneys• tees and enterinit an the Prorwrry tit make rep.nr. Although
<br />Lender may take Action under tht. paragraph 7.1 ender Hors not ha%r todout
<br />Any anitwnt.di.hursad by I coder under this paragiaph'.hAll ttc.antr atddinri +al drhi of K,ri -Act tired ht this
<br />s cunt) Imtitiment Unless Botrrowei and I ender agree to other trnnsot pa.nirnt. dl;r.t anoounr..h tit ht .0 rnrcrc.r ir, m
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<br />the date of dishurscrncut at the %ate tare And .hull he pasahlc. with unrrr.r alv•n n. list ►nat� 1 i,iJ+r r.• 11. •r .•suer
<br />reaquwtnt Pa) meat
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