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<br />90-106353
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Pa)Wat of Prlttc(p d and Iatt rest; Prepayment lord Late Charges, ilorrowcr 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 tinder the Note.
<br />law to a written waiver by Lender, Borrower shall pay
<br />3. Fuada for Taxes and Imuraace. Subject to applicable or
<br />to Lender on the day monthly payments are due under the Note. until the Note is paid in full, a scam ("Funds") equal to
<br />this Security Instrument; (b) }early
<br />one-twelfth of. (a) yearly taxes and assessments wirier( may attain priority a%cr
<br />leasehold or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
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<br />payments
<br />mortgage insurance premiuttts, if any. These items are called "escrow items." Lender may estimate the Funds due on the
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<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
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<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Funds. Unless an agreement is made or applicable law
<br />Lender may agree in writing that interest shall be paid on the
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
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<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />for which. each debit to the Funds was made. The Funds are pledged as additional security for rite sums secured by
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<br />purpose
<br />this Security Instrument.
<br />If the amount of the Funds held. by Lender. together with the future, monthly payments of Funds payable prior to
<br />be.
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<br />the due dates of the escrow items, shall erased the amount requimed to pay the escrow items W h rr. due, the excess shall
<br />at IIoffower's option, either promptly repaid to Borrower or credited to Borrower on mornr.Ky Wyments of Funds. If the
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<br />amount of the Funds held by Lender is not sufficient to pay the escrow items whm due, Sor n r'tax shall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as regv�iceJ is Lender.
<br />Nixm. payment in full of all sums secured by this Security Instrument. Gender shalt promptly refund to Borrower
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<br />any Fi uks hVId by Lender. If under paragraph 19 the Property is sold or acquired by Lender. Gender shall apply, no later
<br />Property its acquisition by Lender, any Funds held by Lender at the time of
<br />1:lU17,P1.t M1Lf rately prior to the sale of the or
<br />ai}y +I� w�L'on as a credit aesiiast the sums secured by t'Ws Security Instrument.
<br />3. Appllctig wro off isyments. Unless applicable law p *ovides others tee, all payments received icy Lender under
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<br />paragraphs 1 and 2 shaJ:LbSe applied: first, to late charges due under the Note; aotRnd, to prepayment charges k:ue under the
<br />2; fourth, to interest due; andlast, to princigaldue.
<br />Note; third, to amounts payable umderparagraph
<br />6. Charges; Liews. Borrower Shall pay all taxes, assessments, charges, fearer and impositions attributable to xCte
<br />rents, if any.
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<br />Property which may ,=ain priority, over this Security Instrument, and lea --Wd pmxM.M. "is or ground
<br />Borrower shall pay thcc.-obligations in the manner provided in paragraph 2, or Toot pazZ in that manner. Borrower shaL't
<br />pay them on time directly to the person owed payment. Borrower shall promPtiv tutmraQ�t i� Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly. Bnraattes shall promptly furnish to Lender
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<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this S�. u� fry 71 n�hn�ment unless Borrower: {al •,
<br />agrees in writing to the payment of the obligation secured by the lien in a manner ac yc'rmble S': Lender, (b) contests in grvd
<br />faith the lien by. or s1e1'e�„L4 against enforcement o£ the lien in, legal proceedirr u�hr:Dc in the Lender's avian operate to
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<br />prevent the enforcement et the lien or forfeitare' , Platy part of the Property; or. (c$, sL�ures from the hold:r c1 the lien an
<br />agreement satisfactory io Lender sttlKvf radnk U.ie Len to this Security Instrumv,-1. Ir lbendtr determi aes t w1 , any part of
<br />the Property is subject to a lien 0,..it:h = stctaiet priority over this Security Iusrranau.aat. (Lender mad' give Borrower a
<br />• n i... •:.. . •h� a a4 w more A' ci. a<tr�ams s� forth abe �e watCtin 10 days
<br />notice identifying dic lien. Dorrcwe:; s;,.•il sa t -st . lien o. take one or mo. _ of id
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<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now eviiisr•ing or hereafter erected m the Property
<br />insured against loss byfere. hazards included witldLa d-n- term "extended coverage" and any other hazards ftor+xhich Lender
<br />be in the amounts and 6cr the periods that Lender requires. The
<br />requires insurance. This insurance shall maintaerted
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not Me
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<br />unreasonably withheld
<br />All insurance. rr:licies and renewals shall rte acceptable to Lender and --,ball include a standard mortgage clalace.
<br />Lender shall have the right to hold the policies attd renewals. if Lender regtcert Borrower shall promFtlt g ave to Leader
<br />all receipts of paid p:etri ums and renewal notices. In the event of loss, Borrower shall give prompt notice i, atte insutance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall.be pnpli- ev c - oration or rtC .
<br />of the Property damaged, if the restoration or repair is economically feasible and Lenders security is and lessened. If the
<br />restoration or repair is rust economically feasible or Lenders security would [re 'essened, the insurance cr ceeds shall be
<br />applied to the sums sem:md by this Security Instrument, whether or not then. •doe, with any excess paetd w, Borrower. If
<br />Borrower abandons tl.e Property, or does not answer within 30 days a noti4,e from Lender that the ins:; -aace carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Len, er may use the proceeds to repair or rest o
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will biz
<br />when the notice is gi %' em-
<br />Unless Len6k a ^.d Borrower otherwise agree in writing, any applicatir?n of proceeds to principal shall not extend or
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<br />postpone the due date of the monthly payments referred to in paragraphs t :end: 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrowers right to any insurance policies and proceeds resulting
<br />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 theerquisition.
<br />6. Preservatiotx and tiiaottbstatsce o€ Frepaxtyt Leaseholds. Borrower shall not destroy, damage or substantially
<br />change the Property.:>LCaw the Vn perty to deteniorate or commit waste. If this Security instrument is an a leasehold,
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<br />Borrower shall comply with the p- -vSion of the 1 se. and if Borrower acquires fee title to the Property, the leasehold and
<br />fee title shall not merge unless Lcft&r agrees to the merger in ,,u sting.
<br />T. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the
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<br />covenants and agreements contained in this Security instrument, or there is a legal proceeding that may significantly affect
<br />Lenders rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation 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 sums secured by a lien which has priority over this Security
<br />Instrument, appearing in court, reasonable attorneys' fees and entering on the Property to make repairs. Although
<br />paying
<br />Lender may take action under this paragraph 7. Lender does not have to do so.
<br />Any arntounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall hear interest from
<br />the date of disbursement at the Note rate and shall be payable. with interest. upon notice from Lender to Borrower
<br />requesting payment.
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