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90-- 106895
<br />UNIFORM COVENANTS. Borrower and Under covenant and agree as folows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower ahal promptly pay when due Ors
<br />pdndpol of and ktieratd on the debt evidenced by the Note and any prapayll" end late chargoa do under the NOW
<br />2. Funds for Taxes and Insurance. SAW to applcable law or to a wrilten weNer by Lander. Bonoww ehel pay to Lernder
<br />on the day monthly payments are due under the Note, unit the Note Is poll In full, a cum rFunda') squat to ore4w$Mh of: (a) ysarfy
<br />taxes and asessmants which may again priority over this 89cwhy Instrument; (b) yearly leasehold payments or ground rents on the
<br />Properly, if and: (o) yearly hazard insurance pranfums: and (d) yearly mortgage Insurer" premiums, N any. The hams are cam "escrow
<br />items:' Lender may estimate the Funds due on the basis of cumentdats and reasonable estimates of futon escrow hems.
<br />The Funds shall be held in an institution the deposits or accounts of which we Insured or qustanteed by a federal or state apernoy
<br />(Including Under 1 Under le such an institution). Lender shall apply the Funds to pay the escrow Items. Lander may rot charge for hold
<br />ing end applying the Funds, anety*g the account a vedlying the escrow Nana, unless Lender pays Borrower Interest on the Funds and
<br />applicable few permits Lander to make such a charge. Borrower and Lander may agree In writing that interest shelf be paid on the Funds.
<br />Unless an agreement is made or applicable law requires Inlertrat to be paid, Lender shag not be required to pay Borrower any Interest or
<br />earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debNt to
<br />the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional aetaudty for the sums
<br />secured by this Security Inshument.
<br />N the amount of the Funds held by Lender, together with the future monthly payments to Funds payable prior to the dos dales of the
<br />escrow Hems, shat exceed the amount required to pay the escrow items when due, the excess shag be, at Borrower's option, either
<br />promptly r"M to Borrower or credited to Borrower on monthly payments of Funds. N 1,1W amount of the Funds held by Lander is not
<br />sufficient to pay the "am Name when due. Borrows► IM pay to Lander, any amount necessary to malts up the dddanty in one or
<br />more payments as required by Lender.
<br />Upon payment In lug of all sums sew7ed by Psis a -,vdty Instrument, Lender shag promptly refund to Borrower any Funds held by
<br />Lender. If under paragraph 19 the Property Is sold or acquired by Lander. Lander sleail apply, no later than Immediately prior to the sate
<br />of the Property or its acquhNlon by Lender, any Funds held by Lander at the time of application as a credit against the sums secured by
<br />this Security Instrument,
<br />3. Application of Payments, Unless applicable law provides otherwise, sit payments received by Lender under para;cavhs 1
<br />and 2 shag be applied: first, to late charges due under the Note: second, to prepaymenit charges due under the Note. third, to amounts
<br />payable under paragraph 2: fourth, to Interest due; and last, to principal due.
<br />4. Charges, Uens. Borrower shelf pay ale taxes, ass"smenta, charge$. fines and impositions stiributable to the Property which
<br />may attain priority over this Security Inatument, and loosehold payments or ground rents, a any. Borrower shag pay these obligations in
<br />the manner provided In paragraph 2, or it not paid In the manner, Borrower shag pay them on time directly to the person owed payment.
<br />8oeawar shag promptly furnish to the Leni* to nntiefm of armounls to be paid under inks paragraph. If Borrower makes these payments
<br />directly, Borrower shit promptly furnish to Lander receipts evidencing the payments.
<br />Borrower shag promptly discharge any fen which has priority over this Security irrs•ument unless Borrower. tat agrees in writing to the
<br />payment of the obligation seared by the lien in a manner acceptable to Lender, ('a) contests in good faith the pen 'by, or defends against
<br />enforcement of the Men In, legal proceedings which In the Lender's opinion operate to prevent the enforcement of the lien or fvriail_re of
<br />any part of the Property. or (o) secures from the holder of the Dan an agreement satisfactory to Lender subordinating) the lien to lh,s Security
<br />Instrument If Lender dwltmr nes that any part of the Properly is subject to a Men which may attain priority over this Security Instrument,
<br />Lender may give Borrower a notice Identifying the Men. Borrower shall satisfy the Der. or take one or more of the acfruns set forth above
<br />within 10 days of the giving of notice.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against
<br />loss by tiro, hazards included within the term "extended coverage" and any other hazards for which Lender requires Insurance. This
<br />Insurance shag be maintained In the amounts and for the periods that Lender requires. The Insurance carrier providing the insurance shag
<br />be chosen by Borrower subject to Lender's approval ,vhich shall not be unreasonably withhold.
<br />AM Insurance policies and renewals shag be acceptable to the Lender and shall include a standard mortgage clause. Lander shag have
<br />the right to hold the policies and renewals. It Lender requires, Borrower shag promptly give to Lender all receipts of paid premiums and
<br />renewal notices. In the event of loss, Borrower Shall give prompt notice to the insurance carrier and Lander. Lender may tasks proof of
<br />loss If not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree In wri rig, Insurance proceeds shall be applied to restoration or repair of the Property
<br />damaged, if the restoration or repair is economically feasible and Lender's security a3 not lessened. If the restoratfon or repair Is not soon -
<br />omialy feasible or Lender's security wo3'.d be lessened, the Insurance proceeds shag be applied to the sums secured by this Security
<br />Instrument whether or not then due, with any excess paid to Borrower. If Borrower abandons tt-.e Property, or does not answer within 30
<br />days a notice from Lender that the Irsuzence artier has offered to settle a claim, then Lender may collect the Insurance proceeds. Lando
<br />may use the proceeds to repair or restore the Property or to pay sums secured by this Seedy Instrument, whether or not then due. The
<br />30-day period will begin when the notice Is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shag not extend or postpone the due
<br />date of the monthly payments refenec': In paragraph 1 and 2 or charge the amount of the pal,rrsnts. If under paragraph 19 the Property
<br />Is acquired by Lender. Borrower "s right to any insurance policies and proceeds resulting from Carnage to the Property prior tc the acquis•
<br />Ition shall pass to LerVer :; the extent of the sums by this Security Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall arc: dealray, darrar,e or substantially change
<br />the Property, allow the Property :o deterforate or commit waste. If this Security Instrument is en a leas&o:d. Ocnower shall comply with
<br />the provisions of the tease, and if Bar -ewer acquires fee title to the Property. the leasehold anu lee title stall nct merge unless the Lender
<br />agrees to the merger in writing.
<br />7. Protection of Lender's Rights in they Property; Mortgage Insurance!. 11 Aorr4wer Pails 12 perforrn the cov enants
<br />and agreements contained in this Security Instrumerc:. :r there is a legal proceeding that may significantly affect the Lender's right In the
<br />Proeertv (such as a proroceedin9 in bankruptcy probate, for condemnation or to enforce laws or regulations), then Lender may do and pay
<br />for whatever is necessary to prorea the vakue of the Property and Lender's rights in the Property. Lender's actions may ".toe paying any
<br />sums secured by a Fier which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering
<br />on the Property to make repairs. Ailhough Lender may take action under paragraph 7, Lender does not have to do so.
<br />Any amounts disbursed by Lender under paragraph 7 shag become additional debt of Borrower secured by this Security Instrument.
<br />Unless Borrower and Lender agree to other terms of payment, these amounts shall bear Interest from date of disbursement at the Note
<br />rate and shag be payable, upon notice from Lender to Borrower requesting payment.
<br />A charge assessed by Lender in connection with Borrower's entering into this Security Instrument to
<br />pay the cost of an independent tax reporting service shall not be a charge for purpose of the precee
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