|
F.
<br />r
<br />Uttta+ottas COVErtntsts. Borrower and fender covenant and agree asfoliows:.` . 89a- 104358
<br />1. Pa>>t M Of Print W and lataraat; PreMynnt at Late ChiwWs, W -rroic : Trail promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepaym wt and Mine. listrges due under the Note.
<br />t Fasda far Tattea aW fund ■ce. Subieet to applicable law or to a: wrhtcn wai vcr h; {,harder, Borrower shall psy
<br />to Leader on the day monthly payments are due under the Nate. until the -Neat is paid in thtl: a sum ( "Funds") equal to
<br />one-twtdRh of (a) yearly taxes and tassessarents which may attain prkthty "er this Security Instrument; (b) yearly
<br />leasesoid payments or ground rents on the Property-, i€ any. (c) year tj bawd itt Wane premiums; and (d) yearly
<br />ritortgaBe insurance premiums. if any. These items are called - escrow iteinT.%" Under may estimate the Funds due on the
<br />braaia afcarreat data and reasonable estimates of future escrow item
<br />The Funds shall be held in an institution the deposits or accost u of wbich are insured or guaranteed by a federal or
<br />state agacy (including bender if Leader is its h an institution). Lender shall apply the Funds to pay the escrow items.
<br />Laaeler test' not chor=e for holding AM applying the Fionda, analyzing tie acccent or verifying the escrow items, utaim
<br />Leader pys Borrower interest on the Funds and applicable lax permits lea dad to make such a charge. Bommm and
<br />Laaodex rosy agree in writing that interest shall be paid ors the Funds. Unless ail agreement is made or applicable law
<br />requires interest to be paid. Lewder shall not be required to pax Borrower any interest or earnings on the Funds. Leader
<br />.snail give to Borrower, without charge, an annual accounting c1the Funita showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds wan mode. The Funds are pledged as additional security for the sums secured by
<br />this Sect * instrument.
<br />If the amount of the Funds held by Leader, togetiser with the future monthly payments of Funds payable prior to
<br />the due data of the eservw item& shall esceed tae arnount required to pty the escrow items when due, the excess shall be.
<br />at Berm es option, either promptly repaid is Borrower or credited tr,Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lauer 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 pavir!ents as required by Lander.
<br />Upon payment in full of all sums secured by this Smur•'ty 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, owes later
<br />than immediately prior to the sale of the Propedy or its acquisition by' Lender, any Funds held bg Lender at tit time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3 Applicsdost of Payaata. Unless sprlzuble law provides otherwise all payments retiersvd by L w er under
<br />paragraphs I and 2 shall be applied: 8rst.m. ktec barges due under the Note. second. to prepayment charges, due under the
<br />Note. third. to amounts payable under jaragraph Z„ fourth, to interest due; and last. to principal dose:.
<br />4. Ctiarpen Lleas. Borrower "pay ay all taxes, assessments. charges. fines and impositions attributable to the
<br />Property which may attain priatity.ever this Security Instrument. and leasehold payments or ground rents. if any.
<br />Bonow+w shall pay these obligations in the manner provided in paragraph 2. or if not•paaid in that manner, Borrower shall
<br />pay them on time directly to the penwxi owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid uakr this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts esi$ticing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation sectored by the lien in a manner acceptable to Lender. (b) contests in good
<br />faith the Lka by, oK default against enforcement of the lien in, ieysl proceedings which it the Lender's opinion operate to
<br />prevent Otcoforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />aggreemene ttatisfactory to Lander subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property a subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />trotice 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 givi2g cif notice.
<br />S. 141aitanl lmmw m. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire. hazards included within the term "extendod coverage" and any other hazards for whi* Lender
<br />requires insurance. -I h a insurance shall be mAur,,tained in the amounts and for the periods that. Lender rapires. The
<br />Insurance carrier proosvding the insurance sham be chosen by Borrower subject to Lender's spprcrwsu which s?:a ,not be
<br />unreasonably withheld.
<br />All insurance policies and racwals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lewder 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 lass. if not made promptly by Borrower.
<br />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 security is not lessened. 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 sums secored by this Security Irsi nir enz wfwher or net, then due. with any excess paid to Borrower. If
<br />Borrower abandons the Phaperty. or does not zmwrr w °tk =— 10 days a W-31ce from Lender that tht insurance carrier has
<br />offend to settle a clairm then Lender may collect :,hc insurance— proceeds. Lender may use the proceeds to repair. or restore
<br />the Property to to pay sums secured by this Security Instriiur,cn, whether or not them due. The 30-day perW will begin
<br />when the Ia*m is given:
<br />Udr m Lender Wd Borrower otherwise xgree in writing, any applic ntr an of proceeds to prirtci ;pxri, shall not extend or
<br />postpone the due date Of the monthly payments rrXsrred to in paragraphs I and 2 or change the amount of the payments. if
<br />under yaragdtAO 19 tile,Froperty is Acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />keen dasaaga vb the Property prior io the acquisition shall pass to Lender to the extent of the sums secured by t�,-jn :Security
<br />lnstrutnetrretnmediat ly prior to Oear quisition.
<br />& PtwervMiaariaar Malateaaace erf Propery, Lesselba& Borrower shall not destroy. damage or substantially
<br />change the Property, allow the Property to eAiern) rate or commit waste. if this Security Instrunw,t. is or a kasehold.
<br />Borrower shah comply with the provisions of tlx %ase, and if Borrower acquires fee title to the Pr °{arty, the lea%hold and
<br />fee title t11ai1tinot merge unless Lender agreees to the merger in wnting.
<br />7. 'WOtsetiea Of Leaget it Aiglft in the Property; Mortgage Insurance. If Borroweer .Caik to gieorm the
<br />eoveaaata and agreements contained in This Secure ty Instrument. or there is a legal proceedIn�e shsu. nrav ai iS.y!ttly i rect
<br />Leader's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnatico 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. Lenders actions may include paying any ruins secured by a lien which has priority over thts Security
<br />instrwneat, 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 addittonal debt of Hotmwer secured by this
<br />Security Instrument Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from
<br />the date of disbursement at the No,e rate and shall be payable, with interest, upon notice from Lender to Borrower
<br />requesting payment.
<br />r1
<br />y i
<br />
|