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90-1064522
<br />UNIFOI M Cprv6NA" Borrower and Lender covenant and agree as follows:
<br />1. Paytweat of principal acid Inter , pfWytstent turd Late Cliargea. Borrower :hall 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, lltads for Tastes aid Issuranuce. 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 />Irxadtold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance pt'emlums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of. ==cot data: and reasonable estimates of future escrow items.
<br />V;p. Words shall be lield in.. an insstitutlon the deposits err a.CGAUitts of which are insured or gumitteed by a fedeml or
<br />state age .I, (Wr iding, Laird& if T. wd—cr Is mch air. insdaition). Lratder sJtalk apply the Funds to pay the escrow items.
<br />Lander may i m chW-9: thtr 4y*bna said applying the >"unds, anml :yzirag the account or verifying the escrow items. unless
<br />Lender pays Borrower rdur~' msk, = titc ands and x,ppPikal a l-w permits, Lcad.cr to makc such a cringe, Borrower and
<br />Lender tray agree in writing that: interest shall be paid on the 1Fumds, Unless are, agreemeItt is made or apgbyza tle faun
<br />requires interest to be paid. Lender shall not be requites to rM. Romower any irrreresr, vr a am, rogs on r.R.e 1Fca ds. IlAvdw
<br />shall give to Borrower, without charge, an annu& rrc=ttrrreg d.b-ee 1Fur:nds sltov iTS cheats, a.-,d debits to OUy - iFun 4:,=2lWe,
<br />purpose for which each debit to the Funds was made. 7! i'rt >fland. s ,'e piOdged sr,,, ad&torPA F 50CQrrity for tine sr4r,� '�iri a3! Cry
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender. tvL,,egkfw ' i•JTn, future montlily payments of Funds payable prior no
<br />the due dates of the escrow items, shall exceed the amount r.-quir'ed to pay the escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monhy taylments of Ftutds. if the
<br />amount of the Fun& told by Lender is not sufficient to pay the escrow items when due, Harrower shall pay ao Lt rider any
<br />amount necessary to nine up the deficiency in one oa more payments as required 'b3 Lender.
<br />Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Funds [field by Lender. If under paragraph 19'tbe Property is sold or acquired by Lender, Lender shall apply, no Later
<br />than irrsmt diately prior to the sale of the Property or its acquisit ins Eby Lender, any Funds held b) Lender at the time cif
<br />applcation as a credit against the sums secured by 1hisSecurity ITivicurntnt.
<br />& Appiiatioo olNyments. Unless applicable law provides othemise, all payments received by Lender under
<br />paragraphs l and 2 shall be applied: first. to Isle charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph =; 'fourth, to interest due, and last, to pttn npal due,
<br />4, Charms Liess. Borrower shall pay ail ta-ce% asmrnents, chwge% fines and impositions attributable to the
<br />Property which may attain priority, over this Security instrument, and leasehold payments or ground rents, if any.
<br />BormwrTshall pay thew obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower shall
<br />pay theta on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />atgreea in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests to good
<br />6:•i •I,. 1' {... A .• .•.rn ••• P t • t, ins leos,i n-m—d' o¢ which in the Lender's opinion operate to
<br />•MM• MR tri• v7, or ..efw..� 3g31 ^....».. ^C.�'!le... i`. h... -t,..- r _ _ _ _ _ _lIt�
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) sec res from the hoider 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 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. Hazard Uaswaoee. Borrower shalt keep the improvements now existing or hereafter erected 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 insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />ewna providing tL-- it surarice shall be chosen by 80eroaer subject to Lender's approval which shall not be
<br />unreasoeabty withheld.
<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 notices, in the event of loss. Borrower shall give prompt notice to the insurance
<br />carrierand Lender. Leader may make proof of foss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in wining, 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 secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. U
<br />Borrower abandons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />o6'ered tosetde a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30.day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise avtee to writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments refsrred to in paragraphs I and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borvowei 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. Presenattion and Maintenance of Property; Leaseholds. Borrower shall not destroy. damage or substantially
<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 promsions of the lease. and if Borrower acquires fee title to the Property. the leasehold and
<br />fee title shah not merge unless Lender agrees to the merger in writing.
<br />7. 1Protecdoe of Leedees Rights in the Property. Nfortgage Insurance. if Borrower fails to perform the
<br />covenants and agreements contained in this Security instrument. or there rs a legal proceeding that may significantly affect
<br />Lender's 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 w hatever is necessary to protect the value of the Property rind Lender's rights
<br />in the Fmperty. Lender's actions Wray include p3y'ing any sums secured by a hen which has priority over this fieciirii -9
<br />Instruractit. appearing in court. paying reasonable attorneys' fces.and entering on the Propr_tiy to make i:q nirs. Althoi4 i-
<br />Lender• may take action under this paragraph 7, lender does not have to dig so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall bwome, 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 he payable, with interest, upon notice from Lender to Borrower
<br />requesting payment.
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<br />90-1064522
<br />UNIFOI M Cprv6NA" Borrower and Lender covenant and agree as follows:
<br />1. Paytweat of principal acid Inter , pfWytstent turd Late Cliargea. Borrower :hall 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, lltads for Tastes aid Issuranuce. 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 />Irxadtold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance pt'emlums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of. ==cot data: and reasonable estimates of future escrow items.
<br />V;p. Words shall be lield in.. an insstitutlon the deposits err a.CGAUitts of which are insured or gumitteed by a fedeml or
<br />state age .I, (Wr iding, Laird& if T. wd—cr Is mch air. insdaition). Lratder sJtalk apply the Funds to pay the escrow items.
<br />Lander may i m chW-9: thtr 4y*bna said applying the >"unds, anml :yzirag the account or verifying the escrow items. unless
<br />Lender pays Borrower rdur~' msk, = titc ands and x,ppPikal a l-w permits, Lcad.cr to makc such a cringe, Borrower and
<br />Lender tray agree in writing that: interest shall be paid on the 1Fumds, Unless are, agreemeItt is made or apgbyza tle faun
<br />requires interest to be paid. Lender shall not be requites to rM. Romower any irrreresr, vr a am, rogs on r.R.e 1Fca ds. IlAvdw
<br />shall give to Borrower, without charge, an annu& rrc=ttrrreg d.b-ee 1Fur:nds sltov iTS cheats, a.-,d debits to OUy - iFun 4:,=2lWe,
<br />purpose for which each debit to the Funds was made. 7! i'rt >fland. s ,'e piOdged sr,,, ad&torPA F 50CQrrity for tine sr4r,� '�iri a3! Cry
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender. tvL,,egkfw ' i•JTn, future montlily payments of Funds payable prior no
<br />the due dates of the escrow items, shall exceed the amount r.-quir'ed to pay the escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monhy taylments of Ftutds. if the
<br />amount of the Fun& told by Lender is not sufficient to pay the escrow items when due, Harrower shall pay ao Lt rider any
<br />amount necessary to nine up the deficiency in one oa more payments as required 'b3 Lender.
<br />Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Funds [field by Lender. If under paragraph 19'tbe Property is sold or acquired by Lender, Lender shall apply, no Later
<br />than irrsmt diately prior to the sale of the Property or its acquisit ins Eby Lender, any Funds held b) Lender at the time cif
<br />applcation as a credit against the sums secured by 1hisSecurity ITivicurntnt.
<br />& Appiiatioo olNyments. Unless applicable law provides othemise, all payments received by Lender under
<br />paragraphs l and 2 shall be applied: first. to Isle charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph =; 'fourth, to interest due, and last, to pttn npal due,
<br />4, Charms Liess. Borrower shall pay ail ta-ce% asmrnents, chwge% fines and impositions attributable to the
<br />Property which may attain priority, over this Security instrument, and leasehold payments or ground rents, if any.
<br />BormwrTshall pay thew obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower shall
<br />pay theta on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />atgreea in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests to good
<br />6:•i •I,. 1' {... A .• .•.rn ••• P t • t, ins leos,i n-m—d' o¢ which in the Lender's opinion operate to
<br />•MM• MR tri• v7, or ..efw..� 3g31 ^....».. ^C.�'!le... i`. h... -t,..- r _ _ _ _ _ _lIt�
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) sec res from the hoider 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 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. Hazard Uaswaoee. Borrower shalt keep the improvements now existing or hereafter erected 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 insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />ewna providing tL-- it surarice shall be chosen by 80eroaer subject to Lender's approval which shall not be
<br />unreasoeabty withheld.
<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 notices, in the event of loss. Borrower shall give prompt notice to the insurance
<br />carrierand Lender. Leader may make proof of foss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in wining, 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 secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. U
<br />Borrower abandons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />o6'ered tosetde a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30.day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise avtee to writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments refsrred to in paragraphs I and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borvowei 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. Presenattion and Maintenance of Property; Leaseholds. Borrower shall not destroy. damage or substantially
<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 promsions of the lease. and if Borrower acquires fee title to the Property. the leasehold and
<br />fee title shah not merge unless Lender agrees to the merger in writing.
<br />7. 1Protecdoe of Leedees Rights in the Property. Nfortgage Insurance. if Borrower fails to perform the
<br />covenants and agreements contained in this Security instrument. or there rs a legal proceeding that may significantly affect
<br />Lender's 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 w hatever is necessary to protect the value of the Property rind Lender's rights
<br />in the Fmperty. Lender's actions Wray include p3y'ing any sums secured by a hen which has priority over this fieciirii -9
<br />Instruractit. appearing in court. paying reasonable attorneys' fces.and entering on the Propr_tiy to make i:q nirs. Althoi4 i-
<br />Lender• may take action under this paragraph 7, lender does not have to dig so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall bwome, 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 he payable, with interest, upon notice from Lender to Borrower
<br />requesting payment.
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