|
____ � __
<br /> � _____ __
<br />�
<br /> 1 _ �
<br /> UNIF(1RR1 Ct1VF.(�IAN 1'� BorroWrer and Lender co�enant and aRrec us fnllow�s: ; 8�7"�' n (� (�
<br /> 1. !'�yn�nt at Princlpd�nd lntere�t;Prepsymene�nd i,ata Ch��ges. 8arrowdi'shAll prom}�Iy�pu�r �T+1�naur
<br /> thc princi�l of artd interest on the debt evidenccd by thc Nate and any prepnyment and late ch�►rges duc under ihe Note.
<br /> Z. �und�tor Tase��ad In�urance. Subject ta applicuble law or t�t+wrilten wai�er hy Lender,Borrower shall pay
<br /> _ to t,cndcr an thc day monehly payments�rc due under the Nntc,until the Note is puid in fuU,a sum("Funds")equol t�
<br /> anrtwrlRh af: (a) yearl� taxes and as.sessmcnts Khich ntay nttsin priority ove� this Security lastrument; (b) yeurl}
<br /> � leaxhold payments �r graund �ents �� �hz 1'mperty, iP any; (cl ycarly halard insurunce premiums; and (d) vcart} '
<br /> mort�e insurnnce premiums,if wny.Thesc items�re calted"escsaw items."Lender may cstimatc thc Funds due on thr
<br /> b�sis of current d�ts and reasanable estimates of Puture rscrow items.
<br /> The�unds shall be held in An inctitution the daposits or accounls oPwhich arc insured or guarantecd by a Pederal ar
<br /> stxte a�ency(including I.ender iP Lertder is such an institution). Lender shall apply the Funds ta pay the escrow items.
<br /> Lender may not charge for holdin�And applying the F�unds.anslyzing the uccount or verifying the escrow items, uoless '�
<br /> l.ender psys Barra�+er interest an the Funds and npplicable law permits Lendcr ta make such a charge. 8orrower and
<br /> Lender mey x�ree in writing that interect shall� paid on tht Funds. Unlesc an agceemeat is made or applieable la�v _
<br /> requires interest ta be p�id.I.ender sh�ll not be required to pay Barrower any interest ar earnings an the Funds.Lender
<br /> ah�ll�ive to Borrower.without charge,an annual accounting oPthe Funds shawing credits and debits to the Funds and the
<br /> purpose for which eaich debit to the Funds was made.The Funds are pledged as additional security for the sums securcd b�
<br /> thisSecurity Instrument. .
<br /> It ihe amount of the Funds hetd by Lender.together with the future monthly payments of Funds payable prior to
<br /> the due dates of'the escrow items.shsll exceed the amount required to pay the escrow items when due,the eacess shall be.
<br /> at Aonaw�er's optian,either promptly repaid to Bonower or credited to Bonower on monthly payments of Funds. if the
<br /> . nmount of the Funds held by L.ender is not sufticunt to pay the escrow items when due,Bonower shall pay to Lender any
<br /> emount necasiry to make up the deflciency in one or more payments as required by Lender. �
<br /> Upon payment in full of a1)sums sccurcd by this Security lnstrument,Lender shall promptly ret�nd to Banower
<br /> any Funds held by Lender.lf under paragraph.l4 the Property is sold or acquired by Lender,Lender shall apply,no later
<br /> than immediately prior to the sale of the Prope�t3•c�r its acquisitian by Lender.any Funds held bv Lender at the time of
<br /> application as s credit against the sums secured a�tl�is Security Instrument.
<br /> 3. A�liwaoa oi P,�ya�en�s. Unless applicable!aw p*ovides otherwise.all payments received by Lender under
<br /> puragraphs 1 and 2 shs1)be applied:first,to late charges due under the Note;second,to prepayment charges due under the
<br /> Note;third,to amounts payable under psragraph 2;fourth,to interest due;and last.to principal due.
<br /> �. Crar�es;Liens. Bonower shall pay all taxes.assessments,charges,fines and impositions attributable to the
<br /> PropCrty which may attain priority.over this Security lnstrument, and leaxhold payments or ground rents, if any.
<br /> Borrowv shall pay these obligations in the manncr provided in paragraph 2,ar if not paic!in that manner,Barrower shall
<br /> psy them on time directly to the person owed payment. Borrower shaU promptly Purnish to Lender all noticcs of amounts ,.
<br /> ta be paid under this paragraph. If Borrower�naka these payments directly.Borrower shall promptly furnish to Lender i _i
<br /> recaptse+idencingthepaymer�ts. i ,;-
<br /> &�rtower shall promptly discharge any tien which has priority over this Security lnstrumeot unless Bonawer:(a)
<br /> agroes ia rrriiing io ine paymeni oi�t»e ooligaiion sa;unv oy inc iirn in a�naiuinr u�-t:cpuavic iG s.i��uc;;t`v)cvi,icsis�n�ua',�,
<br /> fiith 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 t'rom the holder oi'the lien an
<br /> agrament satisfactory to L.ender subordinating the lien to this Security Instrument.If Lender determines that any part of
<br /> � the Property is subjcct to a lien which may attain priarity over this Security lnstrument, 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 at'notice.
<br /> S. Huard Insurance. Borrower shalt�►eep the improvements nuw eaisting or hereafter erected on the Property
<br /> insured against toss b�•flre,hazards included within the tcrtn"eatended coverage"and any other hazards for which Lender �
<br /> roquires iosurance. '['his insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br /> insurance earrier providing the iasurance shall be chosen by Borrower subject to Lender's approval which shali not be
<br /> unreasonably withhetd. _
<br /> All insurance g�olicie.v and renewals shatT be acceptable to Lender and shall include a standard mortgage clause.
<br /> Lender shall have the right to hold the policaes�d tenewals.lf Ltnder��quires, Horrower shall promptly give to Lender ,
<br /> all teceipu of paid prcmiums and r�mev�al notices. In the e��ecrt of Ioss.Borrower shall give prompt notice to the insurance ' �:�_
<br /> carrier and I.ender.Lender may maice proof of loss if not:uua�t promptly by Borrower. �
<br />� Unless Lender and Borroqrer otherwise agrce in writing,insurance proceeds shall be applied to restaration or repair , j'.,�
<br /> of the Property damaged.if the restoratioa mr repair is economically feasible and Lender's security is not lessened. IP the � �°
<br /> restoration or repair is not economicallv feas:&le or Lender's security would be lessened, the insurance pra:eeds shaU be .
<br /> applied to the sums secured by tLis Secueity Instrument,w�ether or not then due,w�ith apy excess paid to Borrower. If �
<br /> Borrow�r abandons the Propeny.�r does nol answtr witixin 30 days a notice frosn Lender that the insurance carrier has
<br /> offered to settle a claim,then I.ender may collect the insurance proce�ds.Lender may use the proceeds to repair or restore
<br />, the Property or to pay sums secured by this Seeurity Instrument,wlsetfcer or not then due.The�day poriod will beg,icn
<br /> when the notice is given. �
<br /> - . Unlcss Lendcr and Borrawer atherwise agree in writing,any application o!'g:occeds ta pri�cipa!shatt.a�ai extestd oe ;
<br /> � postpone the due date af the monthly payments referred to in paragraphs 1 and 2 or change the amount of the p�yments. If
<br /> under paragraph 19 the Property is acquired by Lender.Borrower's right to any insurance policies and proceeds resulting ,
<br /> �'rom damage to the Property prior to the acyuisition shall pass to Lender to the extent of the sums secured by this Security
<br /> lnstrument immediately prior to the acquisition.
<br /> 6. Pratrvation and Naintenance ot Property;Lease6olds. Borrower shall not destroy.damage or substantially
<br /> change the Property. allow the Propeny to deteriorate or commit waste. lf th�s Security Instrument is on a leasehold,
<br /> Borrower shall comply with the provisions of the lea.+e,and if Borrower acquires fee tiNe to she Praperty,the leasehold and �-_ _— -
<br /> fee titk shall not merge unless Lendcr agrees to the merger in writing. '
<br /> 7. Protation o! Lender's Rights in the Property: �iortgage Insurance. lf Borrower fails to pert'orm the
<br /> eovenants and agrcements containeci in thes Seeurity instrument,or there ic a legal proceeding that may significantl}•affect '
<br /> Lender's rights in the Property (such as a Proceeding in bankraptcy, proba�e, for condemnation or ta enforce laws or
<br /> reEulations),then[.ender may do and pay for whatever is necessary to protect the�alue��f the Pmperty and l,rnder's rights
<br /> in the Property. l.ender'c actions may inrlude paying eny sums secuted by a I�en wh�ch has prionty ��rr this 5ecunty�
<br /> � In�trument,appeanng in court,pay�ng reasonable attorneys'fcrs and cntenng on the Property to makc repa�rs. Although
<br /> l.ender may tAkc act�on under th�s paragraph 7,l,ender does not have to do so
<br /> Any amuUnls d�sbursed by L.ender under�h�s paragraph 7 shall t+ecome add�t�onal debt vf Horrower�ecured by thiti n
<br /> Sccurity Inctrumenl l J��Ie«finrruw•er and l.ender agree tc�nihe�term�af p�yment.the�e:+m<�unt�.hall txar intere�t fr��m ' •���
<br /> the date of disburtiecrient at thr '�ute tatc and �h:�ll t►e p;iy�nblc, u�th �n��re�t. u��t► n�.ticc frrm 1 cnder t�� iii+rr��uer
<br /> rcyucs��ngraymem � wr'
<br /> �
<br />
|