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<br />UNIFO1tMCOVENANTS Borrower and LeA'd :?covenant ind agrr4 j; follows: 89-104860
<br />3. Paynicitt of Pdacipal and Interest; Ptepsy f and Late 4hNi1". Borrower shall promptly pay when due
<br />the principal of and interest on the debt 4denced by thi Mote and.anye*44ment and late charges due under the Note.
<br />2. Fewls for Tara aM Iasaranoe. Subject to applicabldow or toa 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) yewly
<br />leasehold payments or ground rents on the Ptopert;r, -if. any, (c) yearly hazard insurance premiums and (d) yearly
<br />mortgage insurance premiums, if any. 'These items $Me&ilexl `+escrow items." Lender may estimate the Funds due on the
<br />basis of current data and nwonable esumates of fimtum csas m .hells.
<br />The Funds shall be held in an institution the dapetits.or saabuntsof which are insured or guaranteed by a Wet$1
<br />state agency (including Lender if header is suck art, atititutitm);at:�nder shall apply the Funds to pay the escrow ites� .., .
<br />Leader may not charge for holding and•applying tltn F4116,,swillWd'py the_Amount or verifying the escrow items, unless° ; - •
<br />Leader pays Borrower interest on the Von& and .. appli6abki t6w.,permhilb Lender to make such a charge. Borrower, 865 .
<br />Lender may agree in writing that i dumb shall, be paid .on, the Fonds, Unless an agreement is made or applicabk• kw
<br />requires interest to be paid, Lender si1n11�got. ba requireed to _pa t•Borrower any interest or earnings on the Funds. L�n&r
<br />shall give to Borrower, without charge; an annual accounting oft.he Funds showing credits and debits to the Funds an -A the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security, for the sums securer! by
<br />this Security Insttvmeat.
<br />Uthe amount of the Funds held by Lender. together with the future monthly payments of Funds payable VW to
<br />the due dates of the escrow itemm shall exceed the ama int -r quimd to pay the escrow items when due, the excess sli4l be,
<br />at Borrower's option, either promptly regald to Botraw4r. or credited to Borrower on monthly paym ws s of Funds. If the
<br />amount of the Funds held by Leader is not staff cietttito pay the escrow items when due, Borrower sh f pay to Lender any
<br />amount necessary to make up thedeffciency in one armore payments as required by Lender. .
<br />Upon payment in full of all sums secured by this Security Listrument, Lender shaU. pr'vinptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property iswid or acquired by Lender. Lender shall apply. no later
<br />than immediately prior to the sale of tine Property or its acquisition by Lender, any Funds held by T:4r:1er at the time of
<br />application as a credit against the sutras secured by this Security Instrument.
<br />3. A/pliatioa of Priyawsts. Unless applicable law provides otherwise; all payments re d%eJ by Lender =der
<br />paragraphs I gad 2 shall be applied: first, to We charges due under the Note; second, to prepayment eF es due =5ri the
<br />Note; third, toamounts payable under paragraph 2. fourth, to interest due; and last. to principal due:
<br />d. CbKv r, Lieaa. Botrawec shall pay all taxes, assessments, charges, fines and impositi W s6ributakr to the
<br />Property which May goalie this Security Instrument, and leasehold payments or =' d rents, if any.
<br />Borrower shaft pay these csbGpWw em the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />Pay than Om tim directly W List peesrsa owed payment. Borrower alall promptly furnish to Lender all notices of am�u nts
<br />to be paid un;dOrthis paragaph. If Borrower makes these payments directly. Borrower shall promptly fumish to Lender
<br />receipts evidencing the payments.
<br />Borrower shalt pr=pOy discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />arm in writing to the pa mml of the obligation secured by the lien in a manner acceptable to Lender. (b) contests in good
<br />faith the lien ley, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the earFmcenment of the lien or forfeiture of any part of the Pmperty; or (c) secures from the holder of the lien an
<br />Agreement s,actory 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 Instrument, 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. Iiaa wd Insurance. Borrower shall keep the improvements now existing Cr Lemafter erected on the Property
<br />insuredagaiL ems by fire, hazards included within the term "extend coverage" and arycaher hazards for which Lender
<br />rta�ires insurs.sce. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />fnrta�asee carrier providing the insurance shall be chosen by Borrower subject to Lender's approval! w'rtich shall not be
<br />w rmsonabty withheld.
<br />All Wour race policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall bv. a the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />aid r. wdpts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance
<br />ceder 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 applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economica2y feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's seamy would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether rr not then due. with any excess quid to Borrower. If
<br />Sommer abandons the Phsperty, or does not answer within 30 days. a wire from Lender that the in- ut ance carrier has
<br />e0ted. to settle a claim, dun Lender may collect the insurance pivxxaU. I M40 may use the prone as w repair or restore
<br />the Property Of to• pay sutras secured by this Security Instrument;. whether or not then due" T+ae 30-day period will begin
<br />when the no6wisSiven.
<br />Unless Lesder and 13nrrower otherwise agree in writing, any application of proceeds to principd shall notex=d or
<br />lxtstpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount aEthe payments. If
<br />raoader pragrap b 19 thePta"y is acquired by Lender, Borrower's right to any ittsuran xpolicies and proceeds rewlting
<br />from damage to t& Fropgmy prior to the acquisition shall pass to tender to the extent of tltc stims =ured by this Security
<br />Instrument immedia efY pcc-or to the acquisition.
<br />i. hm"ad m md'4MWRteaaace of Properp, Leaseholds, Borrower shall not destroy, damage or substantially
<br />change the Property, allow the Property to detenorge or commit waste. If this Security Instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property. the leasehold and
<br />fee tide shall not merge unless Lender agrees to the merger in writing.
<br />7. Preteetin of Lwdes's Riots in the Property; Mortpge lmaranet. If Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />Lender's sights in ik Vtoperiy (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. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />Instrument, 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 became additional debt of Borrower 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 Note rate and shall be payable, with interest, upon notice from Lender to Borrower
<br />requesting paynient.
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