|
UI1th'ORMCOVENA%TS. Borrower and Lendercovenantandalit as! .:lacy;: & 89 104223
<br />1. Psyttseat of Priseipal and loose%, Prepayment and Late Charges. Bortower shall promptly pay when due
<br />The principal of and interest on the debt evidenced by the :`Tote and any prepayment ant J.11tf? charges due under the Note.
<br />L FamU for ?axes and lasswitaee. Subject to applicable law or to a writtea,KwiiOtt by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid irk. €ull, 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 pt?triliums-. and (d) yearly
<br />tnortg* 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 Sholl apply the Funds tar. 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 p4ys Burroviier interest on the Funds and. applicable lase permits Lender to miAe such a charge. Borrower and
<br />i et;#fier asap agree in writing that interest shall be paid on the'Funds. Unless an ag cemient is made or applicable law
<br />red �- fires interest to be pair!. Lender shall not be required tc,, - Borrower any,interecf irr�trnings en. the Funds. Lender
<br />stun =t give to Borrower, without charge, an annual accounting of tile. Fu-ids she'xting credits and de tits to the Funds and the
<br />�supose fbc -w zich each titbit to the Funds -was made. The Funds are pltd!po .additional security for the sums secured by.
<br />this security 1p.Ar'ument.
<br />Ifthe;, t unt of the Funds held by Lender. together the future monthly payments of Funds payable prrrr tza
<br />the due datefi,,tf'the escrow items, shall exceed the amount regxfti °dt to pay. he escrow iterns when due, the excessiSW, -4. Ne,
<br />at Borrower ,i_.?ptor., either promptly repaid to Borrower or t:ridited to Berrrower on monthly payments of Fun '11f ;: .
<br />amount of t : -Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Len&e,'hy
<br />amount n=vKwy to make up the defina rrcy: in one or more pa }-rents as required by Lender.
<br />Up* payment in full of all s. s&-tired by this Instrument. Lender ihall promptly refund to Borrower
<br />any Funds 'held by Lender. If under paragraph. V? the Property is sold or acquired by Under, Lender shall apply, no later
<br />than immediately prior to the sale of the Proper&% cc its acquisition by trap; der, any Funds held by Lender at the time of .
<br />s plicationasacreditagainstthesum %secured by thr,Security Instrumer.z.
<br />3. Application of Payments. Unless applicable taw rovides otherwise, all payments received by Lender under
<br />paragraphs t and 2 shall be applied: first, to late charges due w7 der the Note: second. to prepayment charges due under the
<br />I
<br />ote; third;v'amounts payable under paragraph 2; fourth. to interest du--: and last, to principal due.
<br />4. Charm; Ltevm Borrower shall pay all taxes, assessments. chvzges. fines and impositic: s a._tributable to the
<br />R- aperty which may attain priority over this Security Instrument, iii leasehold payments or g-.-,-,srd rents, if ariv.....
<br />Borrower shall pay these obligations in the manner prinided in paragrap". _,u-;r if not paid in that manner, Borrower shalt .
<br />pay them omlime directly to the per -Ain owed payment. llorrm et shall pre._ -v- y fuse; i-.. to Lender all notices l: aM741ttty :
<br />us be paid, under this, paragraph If Kirrower makes these pa±ine as dirccr,y. Gorri -a -i r 4hall promptly furnish ce E/wider
<br />m- a ptseru6mcmgthepayments.
<br />!3i: -7ower shall promptly discharge any lien which has prionty over this Security Instrument unless Borrower. ('41,
<br />agrees so w" cling to the payment of the obligation secured by the hen in a manner acceptable to Lender. (b) contests is good
<br />faith the 41an by, or defends against enforcement of the hen rn legal proceedings which is- the Lender's opinion operate to
<br />prevent tN-- enforcement of the lien or forfeiture of any parr c< the Property. or (c) secures from the holder of i,lit lien an
<br />agreement satisfactory to Lender subordinating the lien to th ;,i %e.unty Instrument. If Lender determine% that any part of
<br />the Property is subject to a lien which may attain priority ova, t �v.* Srxnanly Instrument, lender may give Borrower a
<br />notice identifying the lien. Horrower shall satisfy the lien ur take,- -; :. (;Y ,T :o'c of the actions set forth above within lU days
<br />of the givigg; (if notice.
<br />S. ')`4azard lasuraece. m3fr'ower %hall keep the 1mrn1 11,. -tents now exishr),,n or hereafter eructed on the Property
<br />tli,rur :�; ;etacast loss by fire, hazarrltincluded within the term "es,.endcd cent crage" and any other hazards for which Lender
<br />r: :rr,Yanc,:. Thin, vsurance shall he maintained in the amo;: -t.• and fir the penfxls that Lender requires. The
<br />6%surance arrter- providing the insurance shall he chosen by Wirrower ltjfs;v -st to I- cuder's approval which shall not be
<br />unreasttnaf!(.;r," w ahheld
<br />Ali. iw, :4 rancc rirlicici and rcrunval% shall I•e accep a! ;t: r.0 I ender and shall Include a standard mortgage clause.
<br />Lender *411. have the right if, held the policies and renewat,. Ifl-ender requires. Wirrow•er shall promptly give to Lender
<br />all receipts of paid ims and renewal notices. In the eveni of Toss, lit lrrower shall give prompt notice to the insurance
<br />carrier and Lender I .cmt.!�,,lT +,nay make pfoof of tots if not made promptly by Borrower
<br />Unless Lender v., H;.; :rower otherwise agree in w riling, utsurarice prmeedi ~hall be applied to rc%toration or repair
<br />of the Property damage t. T (he refs' 1 :Iratton or repair is feasible and Lender'% security is not lessened. If the
<br />restoratiorn t:: repair t, r,rt econ rr. � ically feasible or L.ender''e,,wcurtty would be lessened. the insurance proceeds shall be,
<br />applted to the suers 5o;'4, red by this Security Irivrument. whether or not then due. with any excess paid to Borrower. If
<br />).i,rrrower abandf`m t t;,_ Property, or does not an , %cr within :t) days a m i tce from lender that the insurance carrier has
<br />c$ered to cattle a clam.;. then Leader may collect the insuramw proceMs. Lender may use the proutr/.s to repair or restore
<br />the Propetrty or to pay sums secured by this Security Instrument. whether or not then due. 'the peritxi will begin
<br />when the ni)t'ice iv given
<br />Unless Lender a--.d Horro%cr otherwise agree in writing. any gpph,.axion of proceeds it) jinn ipal shall nut extend or
<br />postpone the due date of the monthly payments referred to in papa *ranfla land 2 or change the ar et, ,I of the payments. If
<br />under paragraph 19 the Property is acquired! b% Lander. Berrixx cr's rig.'1'I to any insurance poltoes and prtwceds resulting
<br />from damage to the Property prtot to the acquistion shall pass. ro Lender t(, the exteni r f the sums secured by 1111% Security
<br />lnstrumm'i immediately prior to tht: acquisition
<br />6. Prtsrrvstioe and Staintrnance of Property; Leitseholds. iirsrr,,wcr shall n;,r destroy, damage nr substantially
<br />?cadge the Property. allow the Property to deteriorate fir commit w rite If this Security Instrument is tin it leasehold.
<br />Nirroacr shall comply with the pra%rsiuns of the lease. and if Horrow'er acyuitcs fee title ffi t he Property. the leasehold and
<br />fee title shall not merge unless lender agrees to the merger in writing
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance. If Hoin -,er fail~ tin perform the
<br />cotenants and agrtxnlentscantan►c . f in this Sec acct} inotument. ur there v a legal hrotcedivig that may ignifivaiill) affect
<br />t B J e1.r :! n. ri .r t.� Lit .� %li a,
<br />°.gl:;. ;, -, vice , soF�:rt: t;t:ci: a. �, I+r�teec, :riF to t-..rrr'ars:p.... p:(tlr:tss. .:utsi: i alt:. .. if:- .e !a r
<br />regulations►. (hen (t nt.ler play eta anti p:f1, fill w hateter Ii. accessary to proico the c.th,c (if the Property and I crider's right,,
<br />III the Properly I cnder'c Jowns nilcry include psymg any sums secured by a licit ccluch has priont) 0ter this Security
<br />Instrument, appearing In touit, payoth reasintablc atrotney%, feesand enh-wig (,n the Property tt, r11.Ikc tcl,airs Alihough
<br />Vendef ntay lake acn,oi under itir, paragraph'?. l rmfer discs not base ti,du s(,
<br />Any ,(rm tint. tll,t+ursa t! h) i c niter and r thry l,ara t<sr11 ` hat! bit, :r.( ad,fit; :ma t dt ht, f K'T I,+wCr I: % ured h% thaw
<br />Stti tin Y lnorttrt(I' fir ('file I.n It„I W AcK .11A I (IIdcr itvtcc r,` other neI III `.1,f patruew tficke dmount%; �fCilH car w rof lit'III
<br />the (IatC t,f des'•uractlu tit aE Ike �,• e pit at'til 411.Yi Ft l,as.tri!r >s, t21-11 :10;,e it sir 1 mulct r„ 141111o+%Ct
<br />fvtiurtlrt:F t!;l4rr :grit '
<br />t
<br />
|