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IM Y r 5't 7 -111;w'.. { or�.. - ,i�t,}i ) f'. i,R y, y:. -. - ! l� f` �1��*.�i•i1. !! y r. ' !- '� - ;'? � tiA, +Ffl- - ?,,�° rg+1s� , ifF k$�rtSy�j�`.yKy:��y:•n.},•.•pw •r.. J'Y� ,; Aii,i�at,>iy;�ti• . ,, i � • . .. •r.!.a+fa.:w.�+.-- ,- .- .^... -....�-� '_�' 90--10'7304 UNFOgM COVENANTS. Borrower and Lander oovanent and agree as 11011M: . 1. Payment of Principal and Intertrsh Prepayment turd Late Chwilm Borrower char pron1p11y pay when der ' NM pdndpd of and Interest on the debt evWmcW by the NOW and any PrepaytrtaM and W41 ohargee der wndM Pt41 Note. - Z. Funds for Taxes and lnauranae. Irubjld to applabN Isar OF N • written wow by Lender, Borrower shall pay to Lender on IM day monthly payments we der under the Note, until the Nog N paid In PA a sum ( "Funda") equal to or&twaMlh of (N yeady taxes and assessments which my attain priority over this Security Imetruntsnh (b) yearly Mo$Aold payertertle or Wound rants on the Property. N any; (c) yearly hazard Insurance premiums; and (d) yawly mortgage Insurance premiums, N any. The Ron are cried "escrow Name." Lender may estimate the Funds due an the be The of current data and nasortable "Owl" d fWwe aawow items. — The Funds shag be hold In an Instllution the deposits or accounts of which we Insured or quaranteed by a federal Or 1111141 apwnay (Inoludhg Lender N Lander Is such an institution). Lander shall apply the Funds to pay the asorow nsnis. Landes may not Ohwg41 far l.:c• :: holding and applying the Funds, analysing the account or verffytng the sewow Nom. unless Landes Wye Borrower Interest on the --- Funds and applicablu law permits Lender to main such a charge. A charge assessed by Lander In con nscgon with Borrower's entering . f Into this Sewrily Instrument to pay the cost of an Independent tax reporting ssrvles shall not be a charge far purposes of the precsft sentence. Borrower and Lander may agree In writing that Interest shall be psld on the Funds. Unless an agreement Is made or appkable law requires Interest to be paid. Lender shd not be required to pay Borrower any interest or samirngs an the Funds. Lender shall give to i Borrower, without charge. an sanwal accounting of the Funds showing teas 0 and debits to the Funds and the purpose far which each r .•; for the sums set cared by this Secwxy Inatrunant. debit to the Funds was made. The Funds an pfedgad as additional seucnor to the due dates of t W the amount of the Funds held by Lender, togdW with the ltulure nnorrtliy plymerga al Funds payad>t. prior lion diner the escrow gems. shall exceed the amount required to pay the asaow items when due, the excess sisal be, all Borrower s cep promptly repaid to Borrower or eredded to Borrower on monthly pe nsnN of Funds. N lire amount of the Funds held by Lender Is not sufficient to pay the escrow hems when due, Borrower shall pay to Leander any amount necessary to make up the deficiency in ons or more payments as required by Lender. Upon payment N full of d sums secured by this Security Instrument, Lender shall prompty refund to Borrower any Funds held by Lender. N under paragraph 19 the Property is sold or acquired by Lender. Lander shag apply. no later than hrnediately prior to the safe of the Property or t13 acquisition by Lender, any Funds hold by Lender at the time of application as a cretin against the sums secured by this Security Instrument. S. Application of Payments. Unless apple" law provides otherwise, d payments received by Lender under paragraphs 1 and 2 shelf be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under parelimph 2; fourth. to Interest due; and Iasi, to principal due. 4. Charges, Liens. Borrower shag pay all taxes, assessments, charges, rinks and impos;tlons an7it:ut3bte to the Property which may attain priority over this Security Instrument, and lossehold payments or ground rents, a any. Borrower shag pay these oblil"00ns in the manna provided in paragraph 2, or N not paid in that rrmnnw, Borrower shd pay them on time het Borrower makes these payment eonoww A.01 prompt y fuaa :h to the tender all notim M amounts to be paid under this paagraD payments directly, Borrower shag promptly fumish to Lender receipts evidencing the payments. Borrower shelf promptly discharge any Den which has predity, over this Security Instrument unless Borrower. (a) agrees in writing to the payment of the obligation secured by the lien In a manner acceptable to Lander, (b) contests in good fifth the Den by. or defends against enforcement of the Den In, legal proceedings which In the Lender's opinion operate to prevent the enforcement of the Den or forfeiture of any pad of the Property; or (c) secures from the holder of the Nan an agreernsnl satisfactory to Lender subordinating the Pan to this security instrument. If Lender determines that any pad of the Property Is subject to a sere which may again PFWV over this Security Instrument. Lender may give Borrower a notice Identifying the Pen. Borrower shall satisfy the Pen or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard Insurance. Borrower shag keep the Improvements now existing or hereafter erected on the Property insured against lose by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires Insurance. This insurance shag be maintained In the amounts and for the periods that Lender requires. The Insurance carrier providing the Insurance shall be chosen by Borrower subject to Lender's approval which shag not be unreasonably withhold. AN insurance policies and renewals shag be acceptable to the Lender and shall Include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss. Borrower shag gbe prompt notice to the Insurance carrier and Lender. Lender may (sake proof of loss N not made promptly by Borrower. Unless Lender and Borrower otherwise agree In writing, Insurance proceeds shag be applied to restoration or repair of the Properly damaged. N the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair Is not eeonomfealy feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the Insurance carrier has offered to setge a claim, then Lender may tolled the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 -day period will begin when the notice is given. Unless Lender and Borrower otherwise agree In writing, any application of proceeds to principal shag not extend or postpone the due date of the monthly payments referred to in paragraph 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any Insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument Immediately prior to the acquisition. 6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substoftliy change the Property, allow the Property to deteriorate or commit waste. If this Security instrument is on a Leasehold. Borrower shelf comply with the provisions of the lease, and if Borrower acquires fee title to the Properly. the leasehold and fee title shall not merge unless the Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fags to perform the covenants and agreements contained In this Security Instrument. or there is a legal proceeding that may significantly affect the Lender's right in the fivpaq (�::�:: v., a pmCee_l:ny in 1_nn4n,n1�� prnharw- for condermation or to enforce laws or regulations). then Lender may do and pay for whatever Is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may Include paying any sums secured by a Len which has priority over this Security Instrument. appealing In court, paying reasonable &game"' fees and entering on the Property to make repairs. Although Lender may take action under paragraph 7. Lender does not have to do so. Any amounts disbursed by Lender under paragraph 7 shag become additional debt of Borrower secured by this Security Instrument Unless Borrower and Lender agree to other terns of payment, these amounts shall bear Interest from date of disbursement at the Raft rate and shag be payable, upon notice from Lender to Borrower requesting payment. F1029.Cn WAO) Paw 2 of 4 F{RST COMMERCE t i Y r 5't 7 -111;w'.. { or�.. - ,i�t,}i ) f'. i,R y, y:. -. - ! l� f` �1��*.�i•i1. !! y r. ' !- '� - ;'? � tiA, +Ffl- - ?,,�° rg+1s� , ifF k$�rtSy�j�`.yKy:��y:•n.},•.•pw •r.. J'Y� ,; Aii,i�at,>iy;�ti• . ,, i � • . .. •r.!.a+fa.:w.�+.-- ,- .- .^... -....�-� '_�' 90--10'7304 UNFOgM COVENANTS. Borrower and Lander oovanent and agree as 11011M: . 1. Payment of Principal and Intertrsh Prepayment turd Late Chwilm Borrower char pron1p11y pay when der ' NM pdndpd of and Interest on the debt evWmcW by the NOW and any PrepaytrtaM and W41 ohargee der wndM Pt41 Note. - Z. Funds for Taxes and lnauranae. Irubjld to applabN Isar OF N • written wow by Lender, Borrower shall pay to Lender on IM day monthly payments we der under the Note, until the Nog N paid In PA a sum ( "Funda") equal to or&twaMlh of (N yeady taxes and assessments which my attain priority over this Security Imetruntsnh (b) yearly Mo$Aold payertertle or Wound rants on the Property. N any; (c) yearly hazard Insurance premiums; and (d) yawly mortgage Insurance premiums, N any. The Ron are cried "escrow Name." Lender may estimate the Funds due an the be The of current data and nasortable "Owl" d fWwe aawow items. — The Funds shag be hold In an Instllution the deposits or accounts of which we Insured or quaranteed by a federal Or 1111141 apwnay (Inoludhg Lender N Lander Is such an institution). Lander shall apply the Funds to pay the asorow nsnis. Landes may not Ohwg41 far l.:c• :: holding and applying the Funds, analysing the account or verffytng the sewow Nom. unless Landes Wye Borrower Interest on the --- Funds and applicablu law permits Lender to main such a charge. A charge assessed by Lander In con nscgon with Borrower's entering . f Into this Sewrily Instrument to pay the cost of an Independent tax reporting ssrvles shall not be a charge far purposes of the precsft sentence. Borrower and Lander may agree In writing that Interest shall be psld on the Funds. Unless an agreement Is made or appkable law requires Interest to be paid. Lender shd not be required to pay Borrower any interest or samirngs an the Funds. Lender shall give to i Borrower, without charge. an sanwal accounting of the Funds showing teas 0 and debits to the Funds and the purpose far which each r .•; for the sums set cared by this Secwxy Inatrunant. debit to the Funds was made. The Funds an pfedgad as additional seucnor to the due dates of t W the amount of the Funds held by Lender, togdW with the ltulure nnorrtliy plymerga al Funds payad>t. prior lion diner the escrow gems. shall exceed the amount required to pay the asaow items when due, the excess sisal be, all Borrower s cep promptly repaid to Borrower or eredded to Borrower on monthly pe nsnN of Funds. N lire amount of the Funds held by Lender Is not sufficient to pay the escrow hems when due, Borrower shall pay to Leander any amount necessary to make up the deficiency in ons or more payments as required by Lender. Upon payment N full of d sums secured by this Security Instrument, Lender shall prompty refund to Borrower any Funds held by Lender. N under paragraph 19 the Property is sold or acquired by Lender. Lander shag apply. no later than hrnediately prior to the safe of the Property or t13 acquisition by Lender, any Funds hold by Lender at the time of application as a cretin against the sums secured by this Security Instrument. S. Application of Payments. Unless apple" law provides otherwise, d payments received by Lender under paragraphs 1 and 2 shelf be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under parelimph 2; fourth. to Interest due; and Iasi, to principal due. 4. Charges, Liens. Borrower shag pay all taxes, assessments, charges, rinks and impos;tlons an7it:ut3bte to the Property which may attain priority over this Security Instrument, and lossehold payments or ground rents, a any. Borrower shag pay these oblil"00ns in the manna provided in paragraph 2, or N not paid in that rrmnnw, Borrower shd pay them on time het Borrower makes these payment eonoww A.01 prompt y fuaa :h to the tender all notim M amounts to be paid under this paagraD payments directly, Borrower shag promptly fumish to Lender receipts evidencing the payments. Borrower shelf promptly discharge any Den which has predity, over this Security Instrument unless Borrower. (a) agrees in writing to the payment of the obligation secured by the lien In a manner acceptable to Lander, (b) contests in good fifth the Den by. or defends against enforcement of the Den In, legal proceedings which In the Lender's opinion operate to prevent the enforcement of the Den or forfeiture of any pad of the Property; or (c) secures from the holder of the Nan an agreernsnl satisfactory to Lender subordinating the Pan to this security instrument. If Lender determines that any pad of the Property Is subject to a sere which may again PFWV over this Security Instrument. Lender may give Borrower a notice Identifying the Pen. Borrower shall satisfy the Pen or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard Insurance. Borrower shag keep the Improvements now existing or hereafter erected on the Property insured against lose by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires Insurance. This insurance shag be maintained In the amounts and for the periods that Lender requires. The Insurance carrier providing the Insurance shall be chosen by Borrower subject to Lender's approval which shag not be unreasonably withhold. AN insurance policies and renewals shag be acceptable to the Lender and shall Include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss. Borrower shag gbe prompt notice to the Insurance carrier and Lender. Lender may (sake proof of loss N not made promptly by Borrower. Unless Lender and Borrower otherwise agree In writing, Insurance proceeds shag be applied to restoration or repair of the Properly damaged. N the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair Is not eeonomfealy feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the Insurance carrier has offered to setge a claim, then Lender may tolled the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 -day period will begin when the notice is given. Unless Lender and Borrower otherwise agree In writing, any application of proceeds to principal shag not extend or postpone the due date of the monthly payments referred to in paragraph 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any Insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument Immediately prior to the acquisition. 6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substoftliy change the Property, allow the Property to deteriorate or commit waste. If this Security instrument is on a Leasehold. Borrower shelf comply with the provisions of the lease, and if Borrower acquires fee title to the Properly. the leasehold and fee title shall not merge unless the Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fags to perform the covenants and agreements contained In this Security Instrument. or there is a legal proceeding that may significantly affect the Lender's right in the fivpaq (�::�:: v., a pmCee_l:ny in 1_nn4n,n1�� prnharw- for condermation or to enforce laws or regulations). then Lender may do and pay for whatever Is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may Include paying any sums secured by a Len which has priority over this Security Instrument. appealing In court, paying reasonable &game"' fees and entering on the Property to make repairs. Although Lender may take action under paragraph 7. Lender does not have to do so. Any amounts disbursed by Lender under paragraph 7 shag become additional debt of Borrower secured by this Security Instrument Unless Borrower and Lender agree to other terns of payment, these amounts shall bear Interest from date of disbursement at the Raft rate and shag be payable, upon notice from Lender to Borrower requesting payment. F1029.Cn WAO) Paw 2 of 4 F{RST COMMERCE t