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<br />_i0704'7
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows,: . a when due
<br />1. Payment of Pdaelpal and lateratit; Prepayment and Late Charges. Borrower %221 promptly pay
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />Insurance. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />2. Funds for Tara and
<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 />attain over this Security Instrument; (b) yearly
<br />one-twelfth of: (a) yearly taxes and assessments which may priority
<br />lessehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly,.,,.;�,�
<br />"escrow items." Lender may estimate the Funds due on the
<br />mortgage insurance premiums, if any. These items are called
<br />basis of current data and reasonable estimates of future escrow items.
<br />or guaranteed by a
<br />which are insured federal or
<br />The Funds shall be held in an institution the deposits or accounts of
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />or verifying the escrow items, unless
<br />— ----- ---
<br />�` M.
<br />lender may not charge for holding and applying the Funds, analyzing the account
<br />Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />s •..r,
<br />Lender pays
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />to Borrower any interest or earnings on the Funds. Lender
<br />:: -+;..
<br />requires interest to be paid. Lender shall not be required pay
<br />to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />by
<br />;:'.
<br />shall give
<br />purpose for which each debit to the Funds was made. The Funds are pkdged ns additional security for the sums secured
<br />.
<br />this Security Instrument. s payable prior to
<br />If the amount of the Funds held by Leader. together with the future monthly payments of Fund
<br />to the escrow items when due. the excess shall be.
<br />i'
<br />the due dates of the escrow items, shall exceed the amount required pay
<br />Borrowers option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />at
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />later
<br />payment
<br />any Funds held by Lender. If tender paragraph 19 the Property is sold or acquired by lender. Lender shall apply, no
<br />by Lender, any Funds held by Lender at the time of
<br />than immediately prior to the sale of the Properly or its acquisition
<br />application as a credit against the sums sectimed by this Security Instrum/ew.
<br />•, ! h all received by Lender under
<br />f "
<br />3. Applicadon of Payments. Un�]zss applicable law provides etwise, payments
<br />I and 2 shall be applied; first, to late charges due under the Note; second, to prepayment charges due under the
<br />paragraphs
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />Borrower shall all taxes, assessments, charges, fines and impositions attributable to the
<br />=
<br />4. Charges; Liens. pay
<br />Property which may attain priority,over ibis Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in The manner provided in paragraph 2, or if not paid in that manner. Borrower shall
<br />r .
<br />-
<br />pay them on time directly to the pem. a owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />Borrower shall furnish to Linder
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<br />to be paid under this parap m ^'h. if Borrower makes these payments directly, promptly
<br />�
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />lien in acceptable to Lender; (b) contests in good
<br />i
<br />agrees in writing to the payment of the obligation secured by the n manner
<br />faith the lien by, or defends against enforcement of the lien in, legal rr.,ceedings which in the Lt'nrkr's opinion operate to
<br />Property; or (c) secures from the holder of the lien an
<br />prevent the enforcement of the lien or forfeiture of any part of the
<br />satisfactory to Lender subordinating the lien to this Security' instrument. if Lender determines thet any part of
<br />agreement
<br />the Property is subject to a lien which may attain prir+rity over this Security Instrument, Lender may give Borrower a
<br />lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />notice identifying the
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />"extended and any other hazards for which Lender
<br />insured against loss by fire, hazards included within the term coverage"
<br />insurance. This insurance shall be maintained in the amounts and for tt•e periods that Lender requires. The
<br />requires
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />LtndtT Borrower shall promptly give to Lender
<br />Lender shall have the right to hold the policies and renewals. If requires,
<br />receipts of paid premiums and renewal notices. In the event of kiss. Borrower shall give prompt notice to the insurance
<br />all
<br />carrier and Lender. Lender may make proof of loss if nor. made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in V. riling, insurance proceeds shall be applied to restoration or repair
<br />is economically feasible and Lender's security is not lessened. If the
<br />ir`.,t;
<br />of the Property damaged, if the restoration or repair
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />then due, with any excess paid to Borrower. If
<br />;;�; } ,•
<br />applied to the sums secured by this Security Instrument, whether or not
<br />Borrower abandons the P- opetty, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim. 'l:eu 'Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />by this Security Instrument. whether or not then due. The 30•day period will begin
<br />the Property tic to pay sums secured
<br />when the notttcc isgiten.
<br />Unles, Lender and Borrower otherwise agree in writing, any spnccation of proceeds to principal shall not extend or
<br />i and 2 or change the amount of the pay ments. If
<br />�... ..
<br />postpone the due date of she monthly payments referred to to paragraphs
<br />under paragraph 14 the Property is acquired by Let..,itr. Borrower's right to any insurance polictts and proceeds resulting
<br />Security
<br />from damage to the Property prior to the acquisivaa static pass to Lender to the extent of the sums secured by this
<br />i
<br />Instrument immediately pnor to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. K,rrower shall not demroy. damage or substantially
<br />change the property. allow the Property to deteriorate or commit sseste. If thi% Security lnszrument is on a leasehold.
<br />Borrower compiy worth she pro%mons of the lease. and tf Bortim er acgutr.• t-e•e •title to the Property the teawhold and
<br />shall
<br />fee title shall not merge urt�ess Lender agrees to the merger to writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurattcc. If Horrower fad: t,. perform the
<br />__ _ ..._....... J....... am.N�t!`aOt1V afferl
<br />covenants and agreements contained to this security' inmrumew- . sicetc 1..t h�... t•,.�•��•••e ••• -• .. —: °•o-•• -• - -•• .
<br />Lenders rights to the Property (such as a pnkectlmg to hankruptt:y. pr.�h3w. for condemnation (it to enforce laws or
<br />regulationo. then Lender may do and pay' for whateser t % necessary to protect the s.+lue of the Property and Lender's rights
<br />in the Property. Lender's acttom may include pa}tng any sum% secured by a Icon which has priority a *sec this Security
<br />Instrument. appearing to court, paying reasonable armrney� feet and entering on the Property to make repairs Although
<br />Lender may takeaction under this paragraph 7. Lender does nor hr%a todo.o
<br />Any amounts disbursed by lender under this paragraph ' .h.W became additional Behr ,if Ekirrawer secured by this
<br />Security instrument. Unte%s Hornmer and Lender agree to tither term. of payment. these am.an,t. shall hear interest from
<br />toe with tnterLm. upon notice tram I ender to Harrower
<br />the date of disbursement it the !Cote rate and %hall payable,
<br />requesting payment.
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