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<br />90- 107206:.__
<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows:
<br />at and Late Charges, Borrower shall promptly pay when due
<br />1. Payout of Prttttclpal and Ittteresh Prepayata
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. .�.
<br />1. Funds for Tastes aad Insurance. Subject to applicable law or to a writ ten waiver by Lender, Borrower shall pay , • , ..
<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
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<br />one-twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (h) yearly v
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />} mortgage insurance premiums, if any. These: items are called "escrow items." Lender may estimate the Funds due an the
<br />basis of 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 agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. r ..
<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 pennits 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 law _.
<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 />t purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by Ir,
<br />this Security Instrument.
<br />s er with the future monthly payments of Funds If the amount of the Funds held by lender, togeth Itay at Ie prier as
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, lice exsxss 581018 tv,
<br />at Borrowers option, either promptly repaid to Borrower or credited to Borrower on monthly payments y t Funds. If the � :• � ,�_� _
<br />amount,ad'the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay t e Lender any :Y ��=nmr, `
<br />amount necessary to make 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,;.. r_�ttl_ any F
<br />unds held by Lender If under paragraph 1Q the Property is sold or acquired by Lender, Lender shall apply. no later than immediately prior to the sale of the Propen) 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. j•
<br />3. Application of Psymeats. Unless applicable law provides
<br />otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under tMe
<br />Note; third, 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 ;u
<br />— ; pay them on time directly to the person owed paymcnt, Borrower shall promptly furnish to I ender nil notices of amounts
<br />to be paid under this paragraph. If Borrower makes these paymems directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />l r. 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 acceptable to Lender; (b) contests in good
<br />r faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) 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 over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days �.
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower %hall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall he maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval w•t;ieh shall not be i
<br />unreasonably withheld.
<br />All insurance policies and renewal~ shall be acceptable to Lender and ~hall include u standar-O 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
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<br />�: t • ; �, ;" carrier and Lender. Lender may make proof of IO�s if not made prompt 1 y by Bt7rrowrr.
<br />Unless Lender and Borrower otherwise agree in writing. insurance proceeds %hall be applied to restoration or repair
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<br />:,; � �, .' • . •;'•I�i'•''' �•. . of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />' ' • 1 restctratu•nn or repair is not economically feasible of Lender's security would be lessened, the insurance proceeds shall be
<br />, }'. applied :ta the sums secured by this Security Instrument. whetl7•er or not then due, with any excess paid to Borrower. If !
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<br />' t Borrower abandons the Property or dcxh not answer within 30 days a nonce from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender ma) coil ecr the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 day period will lxgin
<br />when the notice is given.
<br />t Unless Lender and Borrower otherwise agree to wntir..c.:try application of proceed, rr.I nncipal shall not ertero .:-I
<br />pc�5Vvii a the due date of the monthly ra }tnents referred to i1•: ramptaphc I and 2 or charrc '" :amount of the paymrr+.ta. `i'`
<br />under paragraph 19 the Property 1c acquired by Lender. Horm%cr's right to any insurance ,.odes and proceeds resu'Xinp
<br />` from damage to the Property prior to the acquisition shall pass to Lender i., rye extent of the sums secured by this SL%unt%
<br />ii }"' Instrument immediately prior to the acquminkiu
<br />6. Preservation and Maintenance a( Property; Leaseholds. Hornwrr shall oat -destroy. damage or sub +r+nclsfiy
<br />i change the Property, allow the Propem at deteriorate yr commit waste. If this Security Instrument is on a Irasehwi�.
<br />Borrow ershall comply atth the prtiv,ntnc td the least:. and if Borrower r :o;uaes fee title to the Property, the leasehold acrd
<br />' fee title shall not merge unless Lender agrees to the merger in w rtttne
<br />7. P�atcetion of Lender's Riahts in lbe Property; %fonaaite Ires�rance. If Bt7rntwer fails to perform the
<br />covenants and agreements u�ntacnr,3 in rh�s5e, until Instrurnenr. or there r, a l,:gat pro, ;eesrng that may significantly atiect
<br />Lender`s rights to the Property tuuch as t proceeding to hsn4rupre), pntbatr, for onofcmnauun ur to enfitrce laws or
<br />reputations), then Lender ma) do and pay for Aharetcr is rice -ss:en in prtnco the %Aue of the Property and Lender's nghts
<br />I to the Property Lender's actions Wray include paying an} gums sel'ured by a hen which has pnonq user this Security
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<br />Instrument, appearing to court. paying reatsonable attorney: fees and cnienng on the Property to ink repatro. Although
<br />Lender may take action under this paragraph 7. Lender doe%not hate todo so
<br />Any amounts dtshurscd by Lender under this paragraph 7 %hall became additional debt of iorrower secured by this
<br />Security Instrument l'nlc'ss lit7rrower and I ender agree to tither terms,d'patment, these amounts shall hear interest from
<br />the date of dtsburu•ntent -it the Now tote and shall he pat ahle. vwtth lntere.t. upon nonce trim 1 cider to Horroucr
<br />requesting payment.
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