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<br />UNIFORM COVENxtwrs. Borrower and Lender covenant and agree as follows: 99-404752
<br />1. Psymat of Principal sad iaterest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal ofand interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes aad insurance. 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 />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 tits. 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 />basis ofcurrent 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 net charge for holding and applying the Funds. analyzing the pecount or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Botaower 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, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and toe . ,
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured Ivy.
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future mon(h)y payments of Funds payabiq prior to
<br />the due dates of the escrow items, shall exceed the amount required to pal, the escrow items when due, the eXi 'ita)rll ;be,
<br />at Borrower's optics either promptly repaid to Borrower or credited tit Borrower on monthly payments of i`'uds: [1"t1i
<br />amount of the Funds held by Lender is not-sufficient to pay the escrow itisiis when due, Borrower shall pay t Lz, nder 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, Ltin&r shall promptly refittut: tri:Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired, by fender, Lender shall r tiy, no later
<br />than immediately prior to the sale of the PrWerty or its acquisition by Lender, any Funds held -by Lender at the t m i:4r
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received•liy_.f Girder under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; secottd.,to prepayment charges deli: under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last;�ta principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments. charges, fines and impositions attributable to the
<br />Property which:- m&y. attain priority. over this Security Instrument, aiad leasehold paymeiits� or ground renter,! if u sy'.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in:tha"t manner, Barrotver sha)1
<br />pay them on time directly to theperson owed payment. Borrower shall promptly fiiiiiAh to Lender all notiem of'amounts
<br />to be paid under this paragraph.. If Borrower makes these payments directly, Bom3wer shall promptly furnhh;ta Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unlrrss Borrower: (a)
<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 Lenders 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 pan of
<br />the Property is subject to a lien which may attain priority over this Security instrument. Lender mitygive Borrower a
<br />notice identifying did 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 notes.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter ercottsd 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 insunnct_ This insurance shall be. maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier po6viding the insurance rfhal.I be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably witb`iield.
<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 pat axes. In the event of 1omv Borrower shall give prompt notice to the insurance
<br />carrier and Lender. t ender may make prooih5f loss if not made prompt IV: 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 ecotiemically feasible or Lender's security u ould tx fcsiened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any eNcess paid to Borrower. If
<br />Borrower abandrntr, ►he Property. or does rasa' answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to nettle a,dairn, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums sra:ured by this Security Instrument, whether or not then due. The 30 -day peiitxd will begin
<br />when the notice is given.
<br />Unless Lmder and Borrower otherti ise agree in w sinng, any application of p,rocceds to principal shall not extend or
<br />postpone the duty plat` of the monthly payrents referred coin paragraphs 1 and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender, Borrower's Oghr to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Leader to the crtent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and :Maintenance of Property; Litttteholds.. Norrower tithali not destroy, damage or substantially
<br />change the Propen). allow the Property to deteriorate or commit- xvw: te. If this Security Instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease. and if Borr+nvt:r acquires fee title to the Property, the leasehold and
<br />fee title shall not merge untcs% Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; 'Mortgage insurance. if Binrower fails to perform the
<br />covenants and agreements contained in this Security Instrument. c17 there is a legal proceeding that may significantly affect
<br />undcr','right; in file riiypefiy (suds a5 a pfocrrtling tit bjithrupx-i. proirtte, For condemnattcrrt or to enforce tau•% or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the ti alue of the Property and Vender'." right,.
<br />in the Property. Lender's actions may include paying any,sum% secured by a hen Much has priortm user this Security
<br />Irstrument, appearing in cowl, paying reasonable attwneys' fees and entering tin t tie Property to make repi ir% Although
<br />Lender may take action under this paragraph T. Lender does not have to do so.
<br />Any amounts dt5burwd hg I ender under this paragraph 7 shall become additional debt of K,=rroscr ,c,urcd by this
<br />Security Instrument Unless llotrower and tender agree toother tertiv of pay MCI) t. t it' +c anuurrtt'-shall hcut interest fr,,Atn
<br />the date of di%hursentent at the lints ratc .rod ,hall he payable. I,%qh ,rttere�.I. up n rotr.•c frrrn Leader it, Korrcuer
<br />requeuing pas tnrnl
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