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<br /> U!vtFOttM CffyEtv�t�7s. Boxrower and Lendcr covenant and agree as follows:: . �
<br /> i. Payaeat ot Pri�ciMi�d Lt�res�PreMy�t aed Lte.t�7�arges. Borrower sha1l prompdy psy whett due
<br /> , the prineipat of and inrerest on the debt evidenced by the Nott and aay prepayment and late cha4ga duq under the Note. , �
<br /> 2. Fr�ds for Ttses�ud Lsar�t. Subject to a�plicabin taw or to a written v►raivtr by Lender.Borrower shall pay
<br /> to Lender on tht day m�nthly payments are due undEr tka�+�te,nntil t�e Note is paid in fnll,a sum("Funds"��tquai to. � .
<br /> � . oat•trvelfth of �a)yarly taxes and asses,sments which may attain ptiority aver this S�cutity Instrument; (b)yearly . ,
<br /> -. kuekaTd paymcnts ot gropnd rents on the Propert.y, if any; (c) yearly hazard insusance gremiams; and (d)year�y
<br /> , ' moh�sga insusana prctninms,i€any.T1ies�items are r,�lted"esrtoa:items,"Lendec may esiimate tht Ftu�ds due on the .
<br /> � ' bsa�is of currcnt dats an�.rea.wnabbe estimates of future escrow items. � f�
<br /> � The Funds shal�be h�eld in sn insritution the deposits or accounts of which are insured or guarantecd by a feden�l or :� �
<br /> � stace a�ency(including Lcnd�r if Lentkr is such an iastitntion). Lender sha}i apply the Funds to pay the tsc�ow iteats. . . ..
<br /> -: Ltnt�er m�ty nor�thst6e for haldin8�and aPPt3ring�tt�c Fands;a�ly�ing the account or xerifying the escrow items,unttu .... ..,_ ..._..-=- ,
<br /> � ,� I,endet pays Hnnuwer interat oa the Eunds and applicable law permiEs I.ender to make such a charge. Hoaower and �
<br /> f , I.end�r e�ag�e.in rvritin8 t}�at intetest shail be paid on t���ds. Unitss an agcernent is made or applicabl�law
<br /> .ra�iets;iatx�tSr:2�lse paitd.l.ender sha1T not 6e rFqnired.ta�?a�;�r.�'owa�aazs�interest ar�nings on ti�e Funds.Lender
<br /> �} sh� "`vetcr�zro�er,va-�thr.ut et►�rge,an annual a�cau�iting o�'x�e 1�i��s'�iTe?�zng crodits and debits tn rhe Funds and the .
<br /> , �.:. .
<br /> ; ya��qst foF wh3c�+�ta e#�sit.o the Funds was mad�.:T'I�c'�u�ir�s�r��il�z�:�additional security fot r.�s�ms seru:al by
<br /> ' � thisSecurity.ixts!'stu�nX:::..... .. ":, � ":.:',:•� ::::: :.. _ .; `•
<br /> �' � lf t�e�ioi�r:t,��:�1ie Funds heid by Lender,fogether v�,��t'h''t�:�.`�..T=monthly payments of Funds payat+tc�:i�-.fr to � .. : . .
<br /> � �'�` . ihe dat dates dftifie estrc�w items.shall excad the araount requi�d to�+a�thc escrow items when du�the excrs��I be, �' °.. .
<br /> :. i � at Bortower's aption,eit�x promptly repaid to Borrawer or creditai t�&?r�owec on mon�hiy payments of Funds.If t6e , .
<br /> :i amount oI'the Funds hElr:li�y Lender is not suffieier►t ta pay the escrow�'t�ai�when due.Bottower st[att pay tn Lender�ny ,, .
<br /> ; amaunt necasary to maice up the defic'sency in one or more payments��ttluirad by Lender. .
<br /> � Upon pa�tneru in full of all sums.secured by this Secur�t�,Ynstilirnerit,l.tades shall promptly refund f��ierrower ;
<br /> � any Funds hcic�_�*gsQO.d�r.If undcr¢aragraph lg the Prupert�r�s��old or aCquired by 1.ender,Lender shal!�p�l�,sso later
<br /> � than immediately priar�.0 ihe sale of the Propeny ar.its ac���ian by I.ender,any Funds held by Ler�,ir a2 2��tiane of
<br /> iapplication�s a credit sgainst tbe sums secured by��:s 5ecu:ic:�strument. .
<br /> , 3. AppUatia of Faymeat9. Unless ag�7i.ci�ie law�ovides otherwise,a11 payments rectived 6y Lender under
<br /> � paragrsphs 1 and 2 shall be applieci:first,ta late charges due��er ihe Note;secand,to prepayment charges due nr•i�er the
<br /> Nate;third.to amotmu payablt ander paragnph 2;x�vrth,to iaterest due;and last,to principal due :
<br /> . � 4. Ciargeti Ik�� Borrower shall pay ali:Aaxes,assessments,charges,fines and impositions attribataL��z�:�the _
<br /> pr,operty which may attaim�priority,over tbis Security Instrum�ent, and teasehold payments or gound renu; if any.
<br /> ' I Ho�ower shail pay these obligations in the manner provided in paragraph�,e:�.if not paid in that manner,HorrQ�:er shall ' � t
<br /> � � pap::ti;m on tim+e dircetly to the persan owe�d payment.�orr�wer shall pror�,?tly fumis�t�Lender all natices czf:unc�unts ,` .. � _
<br /> , to�e�sa:���der this paragraph.If Bonowcr makes these payments directly,Borrowet s�:�31 pramptly iarnish•t�s t endet
<br /> _ � [�c�evidsrnei�rgekepaymettts. . _: "
<br /> $orrower shall promptly discharge any lie�a ahich has priority c��+c-s'this Security Instrumer.��„������ower:(a)
<br /> � agras in writing to the payment of the obligation seeured by the lien in a r.�anner acceptable to Lender;�,'Tsj•ra.=�t�.�s in good .
<br /> + ' faith the lien by.or defends against enfareement of the lien in,l.e�::l procee.dings which in the Lender's opir.:c.�rn cc,�erate to
<br /> preveet the enforament of the lien or forfeiture of any part c��:�;.Property;or(c)secures from the hoider c�i:��x lien an
<br /> agrament satisfactory to Lender subordinating the lien to this 5ecurity Instrument.If Lender dstermines that a:ny pan of
<br /> � tha Property is subject to a lien which may attain priority over this Security lnstrument, Lender may give Borrower a
<br /> � notice identifying the lien.8onower shall satisfy the lien or take one or mare af the actions set forth above within 30 days
<br /> ; o;tlhe givir►gaf nutice. -
<br /> � S. Hazard Inwr�ece. Borrower shall keep the imY�c�ements now existing or hereafter erected on the Property
<br /> insured against loss by fire,hazards included within the term'"fx���nded coverage"and any other hazards fot which Lender ' �
<br /> requires insurance. This insurante shall be maintained in t3e amounts and for the periads that I.rnder requires. The
<br /> � insurance carrier providing the insurance shall be Chosen G;Borrower subjeci to Lender's approval which sha11 not be ��
<br /> � unrcasonably withhe�d. �
<br /> A}1 insurance policies and renewals shall be accepti�sl�±o Lender and shall include a standard mortgage clause. —
<br /> Le�dcr shali�avc t::c riglst to ha:d the palici�.ars�rerse::�sts.!'f Lender requirss,�PerrowPr sh?!t p�omptly give to IxndPr �.-
<br /> all reccipts of paid pretrW�c:r�s and renewal notices. ln the event of'loss,Borrower shall give pr�mpt notice to the insuras�ce �.;
<br /> carrier and I.ender.Lea.�'.�°as may make proof of toss if not made promptly by Borrower.
<br /> Unless Lender a.i.:�I�orrowcr othenvise agree in��rriti.*.�,insurance proceeAc shatl be applied to restoration or repair i--
<br /> of the Propetty damaged,if the restoration or repair is eCOa��r�sicatly feasible and lxnder's security is not lesse���:ci:. if the �� _.
<br /> rtstoration or repair is not economically feasible er l,ender's<ecurity would be lessened,the insurance proceai:�3ha11 be � -
<br /> � aP9lied to the sums sec�red by this Security Inst?ur7ent, whether or not ihen due,with any excess na�d to�;rower. If � _
<br /> � �'sower abandons the Property,or does not answer within 30 days a notice from Lender that th�c�;�;a�.,.�;,:�carrier has
<br /> � e/.C'sred to se�tte a claim, then Lender may c:ollect the ic��,4r::nc�proceeds.LE.�nder may use the procooris eo sepsir as restore
<br /> ; r?:r Prape�;j ar to pay sums secure�ti�� this Security inst�:ntn��tld,whether or not ther���e.The 3t�day period�wii]begin
<br /> v�rl�.en the c��i.:e isgiven.
<br /> � Uniess Lender ar d�onower otherwise agree in writing,any application of procecds to principal shall nut 4x..ttnd or
<br /> � ptstpone the due date of the monthly payments referred to in paragraphs 1 ar.d 2 or changc the amount of the pay�nents.If
<br /> under par�gtaph 19 the Property is acquired by Lender,Borrower's right to any insurance policies and proceed4 resulting
<br /> ; from damage to the Property ptior to the acquis�tion shall pass to Lender to the extent of the sums secured by thYS Security
<br /> ' Instrument in�mediately prior to the acquisition.
<br /> ° 6. Pre�erratlon�nd Mai�tenaece ot E'roperty;Ixaseholds. E3orrower�hall not destroy,damage or substantially
<br /> change the Property,allow the P�operty to det�ci+�rate ar commii waste. lf this Security Insttument is on a leasehold.
<br /> Borrower shull comply with the provisions of the lease,and iP Borrower acquires fee title to the Property,the leasehold and �_--..—
<br /> fee title shall noi metge untess Lenderagrees ta the mergcr in writing. t
<br /> 7. Protection ot Lender's Rights in thc Property; Mortgag� Insuranre. If Borrower fails to perform the
<br /> covenants and agreements contained in tl:is Security Instrument.or there is a legal proeeeding that may significantly affect � . �
<br /> Lpader's ri�hts in Ehe Fro�+erty 44uch�a proceeding.in banksugtcy, probate. for condemnation or to enforcr laws or , ,
<br /> regulations).then Lender may do And pay for wh�tever is neccssury to protect the value of the Property and Lender's rights
<br /> ' in the Property, tender's actions may include paying eny sums secured by a lien which ha} priority over this Security
<br /> lnstrument,appearing in court.paying reasonable attorrteys'fees and entcring un the Propeny to make repairs.hlthough
<br /> L Lertder may take action under this paragrapfi 7,Lettdcr does not havc tn do so.
<br /> . Any amountsdisbursed by Lender underthis para�raph 7 shall become:►ddittonal deht�►f Horrutir•cr sccured by�this
<br /> Security Instrument.Ltnless 13nrrower and Lender agrce to nther terms of payment,t hese amounts shall bear�nterest fr�m
<br /> the datc of disbursemcnt at thc N�rie rate attc) �h:tll he payablr. with inte[ert. up��n noticc frc,m Lcnder tc� Borrourr
<br /> requestingpayment. � Q —
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