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IN
<br />89-- 105470
<br />UNIFORM COVENANTS, )Borrower and Lender covenant and ogee as follows:
<br />1. paysm of Priedpd aad Iattxdt; Prepaytattteat oral Late fit. 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, Farces ter Twm ttnad laataewm. 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-YwetOh of (a) yearly taxes and assessments which may attain
<br />- . se t �s se e priority over this
<br />ma�y urity instrument;
<br />kasud�}tents or gmad ents on the Property. if any; (c) y earl y hazard d insurance and (d) yearly
<br />tiva� tle�ttsl; ane os the
<br />rims s rny: 'Ir—tc winsWsttce pariut a
<br />- - - --
<br />book o(current data and reasonable estimates of future escrow items.
<br />The Funds shall be kM in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />staao aroty {ioduding" Under "if .Lender" is such an institution). Lender shall apply. the Funds to pay the escrow items.
<br />Leader may no charge for hoiding_atd applying the Funds, analyzing the account or verifying the escrow items, unless "
<br />Leader pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />iettder may agree in writing that interest shall be paid on the Funds. Unless an agreement is trade or applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall giveto BoRatver, withoutcharge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit tirtbeFurtds :tlirfexntade The Funds are pledged as additional security for the sums secured by
<br />s: this Security lnstruttaent.
<br />If the amount of the F'tj)sltfetiiy;tyertder. together with the future monthly pa ts
<br />of Funds payable pro. to
<br />the due dates of the, . qq+v items; X13 the amount required to pay the escrow items when due, the excess shall boo;
<br />i at Bormwees optim; 1►fter promptly re�fd,to Borrower or credited to Borrower on monthly-payments of Funds. If tale'
<br />amount of the Fundit W, by leader is not sufficient to pay the escrow items when due. BQrta! mr shall pay to Lender any
<br />amount nexessary to retake up thtdeflciency in one or more payments as required by li_eisxlc�r''.
<br />Upon payment iri full crOl stuns secured by this Security Instrument, L,ender5 l &...ftptly refitnd to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Under. -5. Winder shall apply, no lutf;r
<br />than immediately prior to the sale of the Property or its acquisition by Lender. any Funds. jidkl :. by Lender at the time f�t -'
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. ApplilaWks of Paywests. Unless applicable law provides otherwise, all payments received by Lander unties
<br />paragraphs i and 2 shall be applied: first. to late charges due under the Note; second. to prepayment charges due under t*'
<br />Note, third. to amounts payable under paragraph 2; fourth. to interest due; and last, to principal due.
<br />;. Clmew Lk". Borrower slWJ:p..ay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority. Security Instrument. and leasehold paymemtp or ground rents, if any.
<br />Borrower shall pay these obligations in ttictF' tner provided in paragraph 2, or if not paid in diitt manner, Borrower shall
<br />pay them on time directly to tfii` person sad payment. Borrower shall promptly,; fitsttish to Lender ali natives of amounts
<br />to be paid under this paragraph:.11 : exru +x makes these payments iiir i', :13'invo wer shall promptly fur -HiEh to Lender
<br />receipts evidencing the payments:.
<br />Security Iaf
<br />Borrower shall promptly discharge ;ttsy lien which has priority. over this str amerce unless Borrower: (.r1.
<br />agreoft in writing to the payment Q(th obi :gaiion secured by the lien in a mannerargeptable to Lender; (b) contests in good
<br />faith the lien by. or defends agiah st enforcement of the lien in, legal proceWing, which in the lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the property; or (fa) 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 Instrument.. Lender may give Borrower a
<br />notice identifying the lien. Burrower shatl satisfy the lien or take one or more of the actionf: setitlirth above within 10 days
<br />of the giving of notice.
<br />S. Numil ltatwrtauir. 13orrower shall keep tlsr improvements now existing or hereafter erected dn, the Property
<br />insured against kiss by fire, III Wds included within the term "extended coverage' and any other hazards for which Lendrex .
<br />requires insurance.; This insurance shall be maintained in the amounts and for the periods that Lender requires. '11 ,
<br />insurance carrier prow idtng the insurance shall be chosen by Borrower subject to Lender's approval which shall nct be
<br />unreasonably withheld.
<br />All insurance poticim, :Ind renewals shalt be acceptable to Lender and aluil! 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 L.endcr
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insuratrce
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance procce& 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 sunri :secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. if
<br />Borrower absn& is 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 Nipperty or to pay sums secured by this Security Instrument, whether or not then due. The 30•day period wilt begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any applicatit.�tt,orproceeds to principal shall not extend or
<br />postpone the due date of the monthly pay ments referred to in paragraphs I and: 10r change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to iiity'dnsurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender To ilia extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation 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 teasehold.
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehotd and
<br />fee titte shall not merge unless Lender agrees to the merger in writing.
<br />7. Pvo ctioa of LeadWs Ritthts In the Property; Slurtgage Insurance. If Ilorrowcr fails to perform the
<br />covenants and agreements contained in this Security instrument. or there t%a legal proceeding that may sigmffcantic affect
<br />lxnder s rights in The Froperty (Such as a ptmCedtfig n, t'ai;iiftiptcy. pro ba =c. far cant; €snnatrofr : =r to enfor-ce talwfi e£
<br />regulatwnr), then Lender may doand pay for whatever is necessary to protect the v aloe of the Property and Lender's rights
<br />in the Propetty" Lender's actions may include paying any sums secured by a lien which has prrurtty uvtr this Security
<br />instrument, appearing in court. paying reasonable aitc*rne)s' fees and entering on the Proper. it) make repair% Although
<br />I.ctwier may take ai;&)n under this paragraph 7, Lender dnes not have to do so.
<br />Any apmuni%drsbursedby Lender under this paragraph 7 shall bei come addttnvnal debt of harrower %:4:urcd by this
<br />Secum) In%trurncrs: U -11105 horfowcr and Lender agree to other term~ of r:►yrffent. thew amounts %hall tzar nnenv -At from
<br />the vl.ttc c,f ill %bur:etftent at the Noac cute and -hail he pivaNe- %v :th interest. upon m ncc ttom I ender n, ilorrn+wer
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