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90--10 J 9 U U
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agrees follows:
<br />I. Payawtat Of PrI114D l aced latweist( Prepayaseat call 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 charges due under the Note.
<br />2. Resettles (wTattea aced ilsoraace. 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 the Note is paid in full. a sum ( "Funds ") equal to
<br />otte-twellth of: (a) yearly taxes and assessrnenta which may attain priority over this Security instrument; (b) yearly
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<br />( IearJuAd 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 />busies o(current data acid 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 />Ldtder pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lander may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />squires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />tthall 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 [Wade. The Funds are pledged as additional security for the sums secured by
<br />tLia Security Instrument.
<br />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 make up the deficiency in one or morepayments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument, 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 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 />& Applies" of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note: second. to prepayment charges due under the
<br />r Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments. charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />t Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
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<br />to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
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<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
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<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, legal 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 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 10 days
<br />of the giving of notice.
<br />S. Hazard lasurance. Borrower shall keep the improvements 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 i.ender requires. The
<br />�.. insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
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<br />` S unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard 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 event of loss, Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
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<br />t Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged. if the restoration or repair is economically feasible and Lender's swung e'
<br />is not lessened. If th
<br />restoration or repair is not economically feasible or Lender's security would be lessened. the insur.•vrwe proceeds shall be
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<br />applied to the sums secured by this Security Instrument, whether or not then due. with any exaxvs paid to Burrower. if
<br />Borrower abandons the Property. or does not answer within 30 days a notice from Lo -;doer that th, :r,.4uranot"rr„ev Ko.
<br />offered to settle a claim. then Lender may collect the insurance proceeds Lender may use the pokvoe;:. co repair cc' restort
<br />the Ptupoly or to pay sums secured by this Security lastrument, whether or not then due. Thv 30 -dig perand will begin
<br />when the notiutr is given.
<br />Unless Lettderattci Borrow,,rotherwcse agree in wntmg. any applwatwn of proceeds tit principal shrill r...oi extend or
<br />postpone the due date of the maatbly, payments referred to to uarwwaphs I and 2 or change the amount of the rra i men;. If
<br />f tender paragraph 19 the Properry is acquired by lender. Borrower's right to any Insurance poltctes wW proceed% resulting
<br />I from damage to clue Piroperry prior to the a.:gw.smon shall pas% to Lender to the exten t of the -*urns sin; ured by the, Security
<br />Instrument immediately prior to the aorquasit►on
<br />& Pnstnmtiaa anti NLWaNsaace o(FNvperty; i..eaueholds. Borrower shall not destroy, damage or substantially
<br />. change the Ph)prrty, allow the Property to deteriorate or commit waste If this Security instrument is on a leasehold.
<br />Borrower shall comply with tits provisions of the lease. and If Harrower acyutres fee title Io the Property. the leasehold and
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<br />fee title shall not merge unless Lender agrees to the merger in iii riling.
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<br />7. Protextioa of Leader's Rights in the Property; Mortgage Insurance. If Borrower fath to perf,irm the
<br />covenants and agreementscontamed to this Security Instrument, or there js a legal proceeding that ma% significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate, fist condemnation or to enforce Lrsys or
<br />regulations), then Lender may do and pay Fier w hatever as necessary to protect the salue of the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums w ured by a hen which has pnonty over this Security
<br />Instrument. appearing to court. paying reasonable altorr"s fec nand entering ion the Property tit melee repairs Although
<br />Lender may tale action under this paragraph 7. Lender does nut have to do so
<br />Any arruwnts dcshurwd h) Lender under Ihrs puagraph "shall hes•orne additional dchr oaf Boirrtiuct %c%:ured by this
<br />Secunt) Instrunwril Unless Borrower and Lender agree tit tither terrnstofpayment. thoc.amuunts.hall hear interest from
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<br />the date of dtshum+ement at the Note rate and shall he ry)ahle. with interest, ul>ton it ome fr-m I ender tv l womer
<br />requesting pa) men[
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