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<br />UNIFORM COVgiVANTS Borrower and Lender covenant and agree as follows: 90-107166
<br />1, psfyttaeat of pritacllial sad later prepaymeat sad Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charge% due under the Note.
<br />2. Paaillsfor Taxes and ful ranee. Subject toapplicable law or to a written waiver by Lender. Borrower shall pay
<br />to [Lender on the day monthly payments are due under the 1Vote, until the Note is paid in full, a mum ( "Funds ") equal to
<br />one-twelfth of. (a) yearly taxes and assessments which may attain priority over this Security Instrument: Of yearly
<br />lefumhold payments or ground rents on the Property. if any; (c) yearly Ward insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basisof current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable low
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow item-% shall exceed the amount required to pay the escrow items when due, the excess shall be.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amiount of the Funds held by Lender is not sufficient Io pay the escrow items when due, Borrower shall pay to Lender any
<br />amount necessary to nuke up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note. %econd, to prepayment charges due under the
<br />Note: thirst, to amounts payable under paragraph 2: fourth, to interest due: and last, to principal due.
<br />4. Charges, Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority .over this 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 />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If WIrrOWer makes these payment- directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptat U: Lender; (b) contests in Lvod
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which rr, -in: Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Properrp.: r ic) 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 ever this Security Instrument. Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take vne or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall ke,;!p the imp7ovements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included wilt -) the term "extended coverage" and any other hazards t07 which Lender
<br />requires insurance. This insurance shall be maimainetl in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall he acceptable to Lender and shall 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 Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance
<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 proceeds shall he 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 he lessened, the insurance proceeds shall he
<br />applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does riot 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 Property or to pay sums s4eure4 by this Security Instrument, whether or not then due. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any applicai:on of procceds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />under paragraph t'a the Property is acquired by Lender. Borrower *% right to any insurance policies and proceeds resulting
<br />from damage to the Property parr io the acquisition shall paw to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior w the acquisition.
<br />6. Preservation and %laiatenance of Property; Leaseholds. Borrower %haiu see damage or %uhsrA .1 illy
<br />change the Propert}_ allow the Property to aletererrate or comma wa %tc. If chi• Secwrai [nstrun.T.te r, is on a lea:seckild.
<br />Borrower %haltcompl.y with the promsonsefthe lea,e. and if Borrower acqu-tre%fee MW r0 t:hv POOPe"%. ^he Ir asehoid and
<br />fee utteshalt tint merge unle,% l err&tr agrees ro the merger in w rtring
<br />T. Protection of LesdletrN Rights in the Property: 1lortime lasurance. M' $4rrrower fad% to perform the
<br />covrnaatsand aRreemenr%sone*rrC%t in this Security Instrument, or there r. a legal proceoding that may ,tgnificurrt'•} -i %ct
<br />Lendees rights in rho Property (such as a prokeedmF in hankruptcy, probate. for conuemnanon or it, enforce iaw. cn
<br />reguUta-ins.l, then Lender may doand pay for whatrier i% necessary to protect the salue of the Property and Lender's rights
<br />in the Propert). Lender's actions may include paying any sums secured by a lien which has pnority user this 5ecunty
<br />Instrument, appearing in court, paying reasonable attorney. fee, and entering on the liruperty to make repairs Although
<br />Lender may take action under this paragraph 7. Lender does not ha%e to do so
<br />Any •amounts disbursed by lender wider this paragraph 7 shall become additional debt of Ilurrowor %ecured by this
<br />Security Instrument. Unless Borrower and Lender agree to tither term. of payment. these amounts shall hear interest from
<br />the date of disbursement at the Note rate and %hall he payable. with interest. ap{at nonce from l ender to llurrimcr
<br />requesting payment.
<br />S
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<br />1,
<br />,i•+.
<br />UNIFORM COVgiVANTS Borrower and Lender covenant and agree as follows: 90-107166
<br />1, psfyttaeat of pritacllial sad later prepaymeat sad Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charge% due under the Note.
<br />2. Paaillsfor Taxes and ful ranee. Subject toapplicable law or to a written waiver by Lender. Borrower shall pay
<br />to [Lender on the day monthly payments are due under the 1Vote, until the Note is paid in full, a mum ( "Funds ") equal to
<br />one-twelfth of. (a) yearly taxes and assessments which may attain priority over this Security Instrument: Of yearly
<br />lefumhold payments or ground rents on the Property. if any; (c) yearly Ward insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basisof current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable low
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow item-% shall exceed the amount required to pay the escrow items when due, the excess shall be.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amiount of the Funds held by Lender is not sufficient Io pay the escrow items when due, Borrower shall pay to Lender any
<br />amount necessary to nuke up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note. %econd, to prepayment charges due under the
<br />Note: thirst, to amounts payable under paragraph 2: fourth, to interest due: and last, to principal due.
<br />4. Charges, Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority .over this 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 />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If WIrrOWer makes these payment- directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptat U: Lender; (b) contests in Lvod
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which rr, -in: Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Properrp.: r ic) 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 ever this Security Instrument. Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take vne or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall ke,;!p the imp7ovements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included wilt -) the term "extended coverage" and any other hazards t07 which Lender
<br />requires insurance. This insurance shall be maimainetl in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall he acceptable to Lender and shall 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 Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance
<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 proceeds shall he 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 he lessened, the insurance proceeds shall he
<br />applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does riot 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 Property or to pay sums s4eure4 by this Security Instrument, whether or not then due. The 30-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any applicai:on of procceds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />under paragraph t'a the Property is acquired by Lender. Borrower *% right to any insurance policies and proceeds resulting
<br />from damage to the Property parr io the acquisition shall paw to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior w the acquisition.
<br />6. Preservation and %laiatenance of Property; Leaseholds. Borrower %haiu see damage or %uhsrA .1 illy
<br />change the Propert}_ allow the Property to aletererrate or comma wa %tc. If chi• Secwrai [nstrun.T.te r, is on a lea:seckild.
<br />Borrower %haltcompl.y with the promsonsefthe lea,e. and if Borrower acqu-tre%fee MW r0 t:hv POOPe"%. ^he Ir asehoid and
<br />fee utteshalt tint merge unle,% l err&tr agrees ro the merger in w rtring
<br />T. Protection of LesdletrN Rights in the Property: 1lortime lasurance. M' $4rrrower fad% to perform the
<br />covrnaatsand aRreemenr%sone*rrC%t in this Security Instrument, or there r. a legal proceoding that may ,tgnificurrt'•} -i %ct
<br />Lendees rights in rho Property (such as a prokeedmF in hankruptcy, probate. for conuemnanon or it, enforce iaw. cn
<br />reguUta-ins.l, then Lender may doand pay for whatrier i% necessary to protect the salue of the Property and Lender's rights
<br />in the Propert). Lender's actions may include paying any sums secured by a lien which has pnority user this 5ecunty
<br />Instrument, appearing in court, paying reasonable attorney. fee, and entering on the liruperty to make repairs Although
<br />Lender may take action under this paragraph 7. Lender does not ha%e to do so
<br />Any •amounts disbursed by lender wider this paragraph 7 shall become additional debt of Ilurrowor %ecured by this
<br />Security Instrument. Unless Borrower and Lender agree to tither term. of payment. these amounts shall hear interest from
<br />the date of disbursement at the Note rate and %hall he payable. with interest. ap{at nonce from l ender to llurrimcr
<br />requesting payment.
<br />S
<br />ov, r'
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