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Lender shall have the right to hold the policies and renewals. If Le eer requires; Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower %hall give prompt notice to the insurance
<br />carrier and Lender. Lender may make pnlof of loss if not made pro. —ptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, itr iurance proceeds shall be applied to restoration or r, hair
<br />of the Properl)< 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 sball be
<br />applied to the sums secured by this Security Instrument.. whether or not then due, with any excess paid to Borrower. If
<br />BorTtSwer abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carric;;.has
<br />offered to settle a claim, then Lender may collect the insurance pmxreds. Lender may use the proceeds to repair or retitore
<br />the Property or to pay sums secured by this Security instrument, a!tether or not then due. The 30 -day period will I3081a
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shalt 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 any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. 'Preserration and Maintenance of Property; Leaseholds. Borrower ,,hall not destroy, damage or sub %tantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquire% fee title to the Properly. the leasehold and
<br />fee title Shall not merge unless Lender agrees to the merger in writing.
<br />7. Pratection of Lender's Rights in the Property: Mortgage Insurance. If Borrower fails to perform the
<br />covenants and agreements containpri rit this SecurAy Instrument, fir there is legal prrwecdirg that may significantly affect
<br />Lender'% rights in the Property (such as a proceeding in bankruptcy, probate, for condenimition or ti. enforce laws or
<br />regulations), then Lender may doand pay for whatever is necessary to protect the %aluc of the Propett% and Lender'% tight%
<br />in the Property. Leader's action% may include paying any sums secured by a lien which has pnonty met this Securit}
<br />Instrument, appearing in oourl. paying rea %enable attorney.%' fees and entering on the Property to make rt•p.itr, Although
<br />Lender may iakeaction under thw paragraph 7, iender does not have to do so
<br />Any amour it,. dishursed by i ender under this paragraph 7 %hall become addwiii it dchi i•f tart r, .%vt %c.ureci h} this
<br />Security Instrument. Unles% Nc,rrower and i ender agree to other terrn%t4 pay tiit.'rit. nicks' am t tit it, %hall hear interest fro n
<br />the date of dishursctttent at thz %!life rate and ,.hall he payatile. uoli inters %t. upon iwlwe fs.�iii I.oidef t, 11-noeter
<br />requesting payment. `
<br />89� '104792
<br />02
<br />UNIFORM CovENAMS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and 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 />2. Funds for Taxes and Insurance. Subject to applicable Imm- or w 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 assessmentswhich may attain priority over this Security Instrument; (b) yearly
<br />i Ieasehold payments or ground rents on the 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 of current data and reasonable estimates of future escro!v 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 agreemea : is made:bk- applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings can m
<br />shall give to Borrower, withcutcharge, an annual ace ;,outing of the Funds showing credits and debits 0# !# - ,
<br />,Funds a
<br />this Security Instrument. '
<br />If the ariimurnt of the. Funds held by Lender, together vvith t�a�: wore menihly payments of iiInd.-s payable p6or to
<br />the due dates of the escrow diems, shall exceed the amount requirG� c..T i dhi escrow items when due, Oxe.excess shall be,
<br />at Borrower's option, either 1 amptly repaid to Borrower or crec :?trio Borrdwer on monthly payments of Funds. If the
<br />amount of the Funds held Lt.`, .ender is not sufficient to pay the eso uw items when due, Borrower shall pay to Lender any
<br />amount necessam, to make up the deficiency in one or more payniaiNas required by Lender. .
<br />.
<br />Upon payment in full of all sums secured by this Security'iaastrument, Lender shall promptly refund to Borrower {
<br />{ `'
<br />any Funds held b-_. Lender. If under paragraph 19 the Property. is sold or acquired by Lender, Lender !ball apply, no later
<br />than iimnedia'6_- ,prior tc•.d e sale of the Property oz 13 acquisition by Lendex; any Funds held by Fender at the time of
<br />applicaticn asacredit ' ;.. ; -he sums secured by this'a"` urity IastrTment.
<br />3.
<br />AY0946n.offtyrnents. Unless applicable law p!trfo ? otherwise, all paymer:ss received by Lender tinder
<br />paragraphs 1 ;` 'shall be applied: first, to late charges due undxsil-i•. Note; second, to prepa:yment charges due underthe
<br />Note: third, - O.*punts P2%a?e under paragraph 2; fourth, to intend due; and asst, to principal due.
<br />4. Charges; Lkas::.tff6rrower shall pay all taxes, assessments, charew; fines and impositions r+ _ibutable to the
<br />Pn4erty which may a
<br />attai -i priority. over this S
<br />Borrower shall .l�sy these obligations in the manner provided in rrsr.raph 2. or if not paid bf that manner, Borrower shall
<br />pay them on titre directly to the person cw "c3. payment. Borrower. 4—all promptly furnish to If:!6der all notices of amounts `
<br />` ..
<br />to be paid under this paragraph. If Borrower makes these payme:::s directly, Borrower shdil promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unL.-ss 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 />,
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's 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 part of
<br />the Property is subject to a lien which may ,attain priority over this Security 1listrument, Lender may give Borrower a
<br />notice 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 giving of notice.
<br />S. Ruled led Insurance. Borrower shall keep the improvirolovis now esis►ing or ligntafier erected on the Property
<br />insured agaiiuii;lm by fire, hazards included within the term "extended coveraZtye" and any other hazards for which Lender
<br />regmM insassnce. This insurance shall be maintained in the amounts and for the periods that Len&.r,,, requires. The
<br />insurance carmpr providing the insurance shall be chosen by Mtrower subject to Lender's approval which shall not be
<br />unreasonably w.Wi held.
<br />All insw ahce policies and renewals shall be acceptable to f wader and shall include a standard mortgage i;fause. Z
<br />ZZ ZZ
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