|
R9.... 105187
<br />UNIFORMCovENA%TS. Borrower and Lender co Nenaatandagreeasfollows -,
<br />I. Payment of PrINC4 l and Int+erm Prepayment aarg.i "Chards. 1i1+7 mai..0 shall promptly pay when due
<br />the princip-ai of tend interest on the debt evidenced by the Note aad eny prepayment. fa:li}. - charges due under the Note.
<br />2, Fumb forTaxes aatl Iasmramm Subject :o applicak -1 1:9w or to a written % giver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under tb: NcU,_untit the'Note is paid in full, a sum ( "Funds") equal to
<br />one - twelfth of: (a) yearly taxes -and assessments which may ativra priority over this Security Instrument; (b) yearly
<br />• leasehold payments or ground rents on the Property, if any; (c) yehrly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums. ifany. 'These item are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates offtturtteietr witems:- - -- - -- -- - - - - -- - - _ -- —
<br />iite=FUnds sfilltlT he�3 n aninstiturc>a the cS giosits of accounts oi`which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such wa. institution). Lender shat1 apply the Funds to pay the escrow. items.
<br />Lender May not charge for holding and applying t1W 1l:un4 analyzing . the account or verifying the escrow items, unless
<br />Lauder pays Borrower interest on the Funds and a Thmble '& w iper mits Lender to make; such a charge. Borrower, and
<br />Lender may agree in writing that interest shall be plaid on the Funds. Unless an agreement is made or applicabie law
<br />requires interest to be paid, Lender sbralt not be required to pay Borrower any interest Q1' earnings on the Funds. Lender
<br />shat! give to Borrower. without charge, an annual accounting of the Funds shoswiai ti st and debits to the Funds.aiadthe
<br />petiole for which tgch d to the Funds was made._ The Funds are pledged. asp ddltfoft&D =rarity for the sums sac�>? k rt`1< "
<br />, .
<br />�tAt+iu i "af t%? ► rtlllr Try %cider. t ramrl:
<br />the future vrm is of Futr�• payswl7
<br />w p�o`
<br />tB %rt't es i'nro-.i d c;rs edtl t�rr c;r,!J requited to pay the es. -.sow z44 rw*n dut, :t g, c t; sS7br,
<br />credited to Borrower on M'dn` t'.*' payments of Fuir�s;: "'if the
<br />d>libe?unf oft Ip tztds held l>s" Lender i r, E sutizc tent to pay the., escrow items when duc,116rower shall pay to Lender any
<br />antottnt rte ley to make up the deSciesicy irz one or more pa.rmcrrts as required by Lender.
<br />Upon payment in full of all sums to by this Secitsiri,Instrument. Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under parapiph 19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than imrnediatety prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of
<br />application as acredit against thesis rtssecured by this Security Instrument.
<br />3. Application of Payta em. Unless applicable law p•ovides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first. to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth. to interest due; and last. to principal due.
<br />4. Cliarps; Lkas. Borrower shall pay all taxes. assessments. charges, 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 />Borrower shall pay these obligations in, Ilia manner provided in paragraph 2. or if not paid in that-manner. Borrower shall
<br />pay them on time directly to the person. otwed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragr4h. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payatent3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the ctligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the Gen by, or defends against enflor;ement of the lien in. legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien er forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lead+rr 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. &Irrcwe:r sha.i! satisfy the lien or take one or more of the action t, see: forth above with rat 1.0 days
<br />of the giving O notice.
<br />8. Hlrarnd Insurance. Borrower shall keep the improvements now existing or hereafter erected on the pn�perty
<br />insured against loss by rids. 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 pe :nds that Lender requires.- The
<br />insurance cameleer providing the imsuw,,ze shall be chosen by Rwri -)wer subject to Lender's approval which sh4 rn37 be
<br />unreasonable rAsAhheld.
<br />All insurance policies and renewals shall be acceptable sir Lender and shall include a standard mortgage clause.
<br />fx, nder shall have the right to hold the policies and renewals. If Lender, requires, Borrower shall promptly give to Lender
<br />ail receipts of paid premiums and renewal notices. In the event orj v'oss, Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made Vr<Tnptly 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 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. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle 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 agree in writing. any application of priicccdc 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 aniount of the payments. if
<br />tinder paragraph 19 the Property is acquired by i..ender, Borriwer'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 cif the sums �.ecured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. llorrov,er shall not destroy, damage ter 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 pio.i4,[ t:es of the lease, and if Borrower acquires fee title to the Property, the lease;. -Yld and
<br />fee title shall tmv merge unless Lender q r tes tothe mergei in wrmng.
<br />T. Pgmeetiort of Ins 's. sights in the Property; '*mortgage Insurance. if Iiorro er fails to perform the
<br />ei - nantsar :t agreements c: r;: -iz, ?�1 tbisSecurity lnstrumer.r. err there is legal proceeding that ma i significantly affect
<br />Lender's riglvt:s,,.n the Property (such an.,:a proceeding in hankn'.ptcy, probate, for ca;ider-.nattoe rr to enforce iiiivo, or
<br />aliC�?tS1„ i s LaAdst ring, du 3: fnF >"hatcrcr i ;.meet:ors?, - w Protect rtie i aluc T.-5:
<br />Prr,l�r;. Lender's actions c-:y nclude paying any sums secured c_; Jaen wh.,;: �. ; . ;,;,t�, :rice the
<br />a,�pearing in rr,;�,�t: p.�l,ir, r seasonable d�tnrneys fees and entrnr:�y.c �n rl;e i'rn� cite io ra�,ku repairs.
<br />lam: errsaXtIccactionu. �etthrsF. asaraph7 ,Ler:,t;1�cs�7na +,etndosa
<br />At ) ., 1,lLrtt. disbursed by Lender under th1. Ei aragr�p!i skall become additrnn:.,l &4,.)t of Rorrower secured icy "t In.
<br />Stcuruy Inser)'uncnt. Unless Iiezrrower .mid I. order agree to ritherterms of payment, th.sc Amounts A311 hear interest from
<br />the date of disbursement at the Note rate and shall be payable. with interest. upori notice from 1 ender to ltour+ucr
<br />requestingpayment
<br />�r�
<br />r
<br />a,
<br />r``
<br />>� r
<br />
|