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89- 104943
<br />UN1MIM CONTIU 'IS. Bon+mw,erilid Lender covenant and agra w follows:
<br />t. Payment at PriaciMt era! Pre /newt sad late Amtgea. 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. Facia for Taxes and Imatsaa. Subject to applicable law or ton written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments we due under the Note. until the Note is paid in full. a sum ( "Funds ") equal to
<br />oam welftuh of: (a)yeady•taxes ant:arwasstrterits which may attain priority over this Security Instru -mait; (b) yearly
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<br />iessehodd payments- or groattd_- rafts Cat the ftoperty. if any; (c) yearly' hazard insurance piemiueis; and Td) yearly
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<br />mortgage insurance premium%. if myz Thme items are called " eserow items." Lender may estimate the Funds due on the
<br />basis of"currentdatsw d rawmabloestbutes of future escrow items.
<br />The Funds shall be hold in.ta: institution the deposits or accounts of which we insured or guaranteed by a federal or
<br />taste agency (including Leader if Leader is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for hoiditig and applying the Funds, analyzing the account or verifying the escrow items, unless
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<br />Lender pays Borrower mUrlest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may ague in. writing that interest shall be paid on the Funds. Unless an sgteemmt is made or applicable law
<br />requires interest to be-pa4 Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />:hall give to Swrower, without charges an annual swooning of the Funds showing credits and debits to the Funds and the
<br />purpose kr*hieh each debit to the Fiords was made. The Fonds are pledged as additional security for the sums secured by
<br />"Security Instrument.
<br />If the amount of the Funds held by Esardier, together with the ft tore monthly payments of Funds payable prior to
<br />the due dates of the escmw items, shall exceed :ibe amount required to pay the escrow items when due, the excess shall be,
<br />at Borrower's optima, eMw promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds bold by Lam.rw is not sufficient to pay the escrow items when date, Borrower shall pay to Lender any
<br />amount necessary to tasois up the deficiency in one or more payments as required by Lender.
<br />Upon payment i full of all sums secured by this Security Instrument, Lender shall promptly refund'to Borrraww
<br />any Funds held by Lw&r. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Property orits acquisition by Lender, amT Funds held by Lender at the time of
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<br />applicatiam as a credit against the sums secured by this Security Instrument.
<br />3. Applicatlos of Payase ts. Unless applicable :raw provides otherwise, aff payments received by Lender under
<br />paragraphs d and 2iisaUbe applied: first, to Wrcbarges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amicmis payable under paragraph 2; fourth, to interest due; and last, to principal due.
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<br />4, Charm barns. Borrower shall pay all taxes, assessments, charges, flares and impositions attributable to the
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<br />Property which may attain priority. over this Security Instrument, and lesseboV., payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2. or if toe. paid in that manner. Borrower Shan,
<br />pay them on time directly to the person owed payment. Borrower shall piarmptly furnish to Lender all notices of ar ourits
<br />to be paid under this paragraph. If Borrower makes these payments duly, Borrower shall promptly furnish to Unnder .
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment ofthe 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 Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from She 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 Iasi ment, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the sx6ons set forth above within 10 days ,
<br />of the giving of notice.
<br />S. 141aaard laaaiwmm Borrower shall keep the improvements now existixg or hereafter erected on the Property,
<br />insured against loss by fim hazards included within the term "extended coverage* and4ny other hazards for which Lender
<br />requires insurance. This insurance shall be maintained i.o the amounts and for t e periods that Lender requires. The
<br />inwts= carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
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<br />unrmwaWy withheld.
<br />AJ insurance policies and renewals shwlt 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 "I promptly give to lender
<br />all recdpts of paid premiums and mewd notices. In the event of loss, Borrower shafts give prompt notice to the insurance
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<br />carrier and Lender. Lender may nuke 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
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<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If their
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the tuna secured by this Security Instrument, whether or not then dun with any excess paid to Borrower. If:
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />ollered to settle a claim, then Lender may collect: the insun ince proceeds. Lender may use the proceeds to repair or restore
<br />Me 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 a given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Fender, 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
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<br />Instrument immediately prior to the acquisition.
<br />C Prowwatiom sad Malatemme of Property; L*w*beW 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 provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Laader's Riots is the Property; Mor4W Insurance. 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 />Leader's rights in the Property (such a a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />Lender do for is
<br />regulations). then may and pay whatever necessary to protect the value of the Property and Lenders rights
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<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 />itny amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
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<br />Security Instrument. Vnlexs Borrower and Lender agree toother terms of payment, these amounts shall bear interest from
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<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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