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<br />90-05936
<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows:
<br />1. Paylt t of Prlacigal atsd 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 charges due under the Note.
<br />Z Funds for Taxes and Insurance. Subject to applicable law or ter 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 />one- twelikh of. (a). yearly taxes and assessments which may attain prinnty over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly havard 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 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 />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 shall be paid on the Funds Unless an agreement is made or applicable law
<br />requires interest to be paid, Leader shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />dual give to Bos roarer. 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 />We 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 tams 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 all sums secured by this Security Instrument, Lender hall promptly refund it- Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by L..,nder, Lender shall apply, no later
<br />than immediately prior to the sale of the Property or its acquisition by lender, any Funds heft; :r, :.ender at the time of
<br />application as a credit against the sums secured by this Security Instrument
<br />3. AWAker■U"- of Payw ttita. Unless applicable law provides otherwise, aii rayments received by Lender under
<br />paragraphs t and 2 shall be applied: Iflnt, to late charges due under the Note; second. rc. ,repayment charges clue under the
<br />Note, third, v amounts payable urod-;!r paragraph 2; fourth, tto interest due; and last, to principal due.
<br />4. Charges lien. Borrower shall pay all taxes, assessments, charges, fines and imposition% attributable to the
<br />Property which me)- amain priority over this Security Instrument, and leasehold payment~ r,r ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph :, or if not paid in that manner. Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furrrxri e.; Loader all notices Of amounts
<br />to be paid under this paragraph. If Borrower makes these payment% directly, Borros4e- vnall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Securtty Instrument unlcs, Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien to a manner acceptable to Lender, (b) o ontests in got d
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opim-on operate to
<br />prevent the enforcement of the lien or forfeiture of any pan of the Propeny, or (c) sec res from the hoidet of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Secunty 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 mr - •e of the acuoms set form above within 10 days
<br />of the giving of notice.
<br />S. Hazard Inarratsce. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by tire. hazards included within the term "extended coverage" and any other ha. ands 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 vx1ri)ect to Lender's approval which shall not be
<br />unreasonably withheld.
<br />AU u:osurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender sW;I- :leave the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all rempas of paid premiums and renewal notices. l n the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. L mler may make proof of lords if not made prompt ly by Borrower
<br />Unkest Lender and Borrower otherwise agree in w niiing. insurance proceeds shall be applied to restoratton or repair
<br />of the Property damaged, if the restoration or repair is ecvnimmically feasible and Lemttea's secunty is not lesw recd. If the
<br />restoratiols or repair is not economically feasible or Lender's %ecunty would be lessened. the insurance proceeds shall be
<br />applied to the suits secrtrad by this Security Instrument. whether or not then due, with any tiwe%s paid to Borrower. If
<br />Borrower aooi%km thr Oroperty, or does aim answer within 30 days a rio,:c.e from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the tnsurAw-e rnreedi Lender may use the proceeds to repair or restore
<br />The Property or to pay sums secured by this Security Instrupwat. whether or not then due The 30-day penod milk begin
<br />when the notice is given.
<br />aiiuca: i.cTnici iirti OUF FOWCT triiicrwrsc agree m w•nnng, any application of proceeri% to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments- If
<br />under paragraph 19 the Property is acquired by lender, Borrower's right to an% inwrance pobt:ies and proceeds resulting
<br />Lender from damage to the Property prior to the acquisition shall pass to ender to the extent of the sums secured by this Security
<br />Instrument immediately prior to theacgmsuron
<br />C Pt+edervadom sad Majateaawe of Properts; Leaseholds. Borrower %hall not destroy. damage tit substantially
<br />change the Property, allow the Property to deteriorate tar commit wane If this Security Instrument is on a leasehold,
<br />Borrower shall comply with the provision, of the leas, and if lkirrtower acquires fee tit le to. the Property, the leasehold and
<br />fee tick shall not merge unless Lender agrees to the merger in x riling
<br />7. Protection of lander's Rlgkts in dw Property; yltntgge Insurance. If Wirrttvter fads to perform the
<br />coverui its and agreements contaihed in this Secunty in%trumen t, or there i% a legal prtweeding that may significantly affect
<br />L Lender's rights in the Property (such as a proceeding in hankrupic), probate, for cundemnatton or tr enforce laws tar
<br />regulations), then Lender maydeand pay for whale%cr os nece%%ag aopn►tect the %aluc of the Propem and 1 ender' %nght%
<br />in the Property. Lender's actions may include paying any %umi %ccured by a lien whnh hoc prioni% over this %c%uriq
<br />Instrument, appeanng to court. paying reaminahle attorneW frr%and entering t +o ihr 1'r..t.t ri% 1,. mike repair. Although
<br />Lender may takeaction under this paragraph I ender Joe% nit have it, do 4.1.
<br />Any amounts disbursed M I ender under i hi;. paragraph ' %hall t.r"�n►r aildmilrul %lehr .,t him.-wrr %ct ured by thn
<br />Security Instrument finless Borrower and 1 undet •agree tt +ttthc r tt'rnit of t.v%ntcrrt. these amvunr• .hill heal tntere.i from
<br />the date of divbursement at the Noir rate end .hall Ix- pay.tr•le. with ititt'ie.t up•r li -tr,r titan I rntlrr t,, lir,irowocr
<br />requesting payment
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