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<br />10715 1
<br />UNIPOItM COVBNANTS. Borrower and Leader ooveaant and agree as follows.
<br />Borrower dull promptly pay when due
<br />pmt pf p�tlpal seal Iatttnctt PN�aytaeat LaM f *moment Note.
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<br />I. and late chargesdue under the
<br />the pdWpal of and interest on the debt evidenced by the Note and any prepay
<br />law or to a written waiver by Lender, Barrows" shall pay
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<br />L FonTaxoa aatl lawrasoa. Subject to applicable
<br />ts fer"Funds")
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum equal to
<br />Security Instrument-. (b) Yearly
<br />Date- ttrelfih of. (a) yearly taxes and otsessments which may attain priority over this
<br />on the Property, if any; (c) Yearly, hazard insurance premiums; and (d) yearly
<br />kaaebold payments or ground "+state
<br />mortgage inauntttoe premiums, if way. Th ese items are called "escrow items." Lender may estimate the Funds due on the
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<br />buisof current data and reasonableestimates of future escrow items.'
<br />be held in an institution the deposits or accounts of which are insured guaranteed "abased by items.
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<br />The Funds shill und
<br />state agency (including Lender if Lender is such an institution). Lender shall apply pay
<br />or verifying the escrow items, unless('
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<br />Lender may not charge for holding and applying the Funds, analyzing the account
<br />interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
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<br />Lander pays Borrower
<br />Lender may agree in writiag Iltat irstemst shall be paid on the Funds. Unless an agreement is made or applicable law
<br />interest or earnings on the Funds. Lender
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<br />requires interest to be paid, Lender shall am be required to Pay Borrower any
<br />withwl charge, an annual accounting of the Funds showing credits and debits the Funds and the
<br />ahall give to Borrower. t
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the suttnssecured by
<br />this Security Iourument. Iter with the future monthly payments of Funds payable prior to
<br />If the atno nt of the Funds held by Lender. tOget
<br />to pay the escrow items when due. th shall
<br />the due data of the escrow items, shall exceed the amount aquirs:tl the
<br />at Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly pay of Funds-
<br />items due, Borrower shall pay to Lender any
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<br />amount of the Funds held by Lender is not sufficient to pay the escrow when
<br />menu as r aired by Lender.
<br />deficiency in one or more pay e9
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<br />amount "necessary to snake up the
<br />Upon payment in DA of all sums secured by this Security Instrument, Lender shall pro mptly refund to Harrower
<br />is sold or acquired by Lender, Len der shall apply, no later
<br />If 19 the Property:
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<br />any Funds held by lender. under paragraph
<br />than immediately prior to the sak of the Property or its acquisition by Lender, any Funds held b Lender at the time of
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<br />application as a credit against the suttassecured by this Security Instrument.
<br />F'ayasents. Unless applicable law provides otherwise. all payments received by Lender under
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<br />3. Application of
<br />paraagmphs 1 and 2 dull be applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />fourth, to interest dui, and last, to principal due.
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<br />Note; third, to amounts payable under paragraph 2;
<br />4. Charges; I,Ieas. Borrower shall pay all taxes, assessments. charges, fines and impositions attributable to the
<br />or ground rents, if any.
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<br />Property which may attain priority over this Security Instrument, and leasehold payments
<br />these obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower shall
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<br />Borrower shill pay
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />ikcrrower shall promptly furnish to Lender
<br />Room
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<br />to be paid under this paragraph. If Burrower nrai: t:.csc pa
<br />receipts eviuler:cing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />acceptable to Lender, (b) contests in good
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<br />agrees in writing to the payment of theobligation secured by the lien in a manner
<br />faith the lien by, or defends against enforcement of the lien in. legal proceedings which in the Lender'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 arcy part of the
<br />satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part a
<br />Borrower a
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<br />agreement
<br />the Property is subject to a lien which may attain priority over this Security Instrument. Lender may give
<br />the actions set forth above within IO days
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<br />notice identifying the lien. Borrower shall satisfy the lien or take one or mare of
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<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 coverage" and any other hazards for which Lender
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<br />insured against loss by face, hazards included within the term
<br />insurance. his insurance shall be maintained in the amounts and for the 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
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<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />and Renewals. If lender requires. Borrower shall promptly ecce to Lender
<br />Lender shall have the right to hold the policies
<br />all receipts of paid premiums and renewal notices. In t'h a event of loss, Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss Knot made promptly by Borrower.
<br />l!acl; {ss lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />feasible Lender's security is not lessened. If the
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<br />of the Property damaged, if the restoration or repair is economically and
<br />is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
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<br />restoration or repair
<br />applied to, the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />from Lender that the insurance carrier has
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<br />Borrower abandons the Property, or does not answer within 30 days a notice
<br />offered to sable a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />then due. The 30 -day period will begin
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<br />the Property or to pay sums secured by this Secunty Instrument, whether or not
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<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of prcx:eeds to principal shall not extend or
<br />in I and l or change the amount of the payments. If
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<br />1.
<br />postpone the due date of the monthly payments referred to paragraphs
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />of the sums secured by this Security
<br />from datac:+ge to the Property prior 'to the acquisition shall pass to Lender to the extent
<br />Instrument immediately prior to the acquisition.
<br />6. PreservaMon and Maintenance of Property; Leaseholsds, Berrrwes shall not desstc., damage or substantially
<br />changer the Property, allow the Property to detmoTate or commie wa +te if this S.curuy instrument Iti on a leasehold.
<br />if Borrower acquires fee title to the Property. the leasehold and
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<br />Borooxer shall CO mf+i} with the provisions of the lease, and
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<br />fee tigkshall not merge unless Lender agrees to the merger in wnstag.
<br />Protection of Lender's Rights in the Property; Mortpge Insurance. If Borrower fads tt+ perform -:he
<br />there is a legal proceeding that may sigmfi;antly affect
<br />revenants and agreements contained in ;his Security Instrument, or
<br />Lenders rights in the Property (such as a proceeding to bankruptcy. prooaic. 1- c�,..,.,.,,.o,..r.. ••• ••• -••• • -- •-
<br />then Lender may do and pay for whanever is necessary to protect the value of the Property and Lender's rights
<br />I
<br />regulations),
<br />in the Property. Lenders actions may include paying any sums secured hr a Gen which has priority .nee this Security
<br />fees on the Property to make repairs. Although
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<br />Instrument, appearing in court. paying reasonable attorneys' and entenng
<br />Lender may take action under this paragraph 7. Lender does not have to do so
<br />7 become additional debt of Borrower secured by this
<br />Any amounts disbursed by Lender under this paragraph shall
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment. these amounts shall tear interest from
<br />notice from Lender to Borrower
<br />the date of disbursement at the Nme rate and shall be parable, with cnterrsr. apnn
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<br />requesting Payment.
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