|
I �
<br /> Q 106i'�9
<br /> UNIFORM Ct��'F.NAtiTti BorroN�rr and l.cndcrcc>vcnnnt and Adrecus fnlloa�: ;�'����1°
<br /> 1. P�yment of Nrincipal w�d tretcrest; P�opsymem and IAte Charges. Borr����er shall pmmptly pa�� when due
<br /> the pnncipul uPnnd interert on the debt e�idenced by the Note und nny prepu}•ment and l,�te charges due under the Nme.
<br /> �. F u�dv ta�Tsxes and Insuranra Suhject tu applicablc lu�+�ur ta a written wai��er h�•Lrn�ler,B��rr��►��er shal!pt�y
<br /> � to Lendcr un Ihe day manthly payments nre due undcc the Noic,ui»il the Note ic paid in Pull, a�um("Funds")equal ta
<br /> one•eweliih ��f: (a) >ea�ly taxes and �.aasments which ma}• attui�� priaritti• a�•er this Security� Instrument; (b) yearly
<br /> leasehold paymtr�ts or g�aund rents �n the Propeny, if any; (c) Se.�rly hazprd insurancc pr�miunis; and (J) yeariy
<br /> mortgsgc insurance premiums.if any.Thcse items are calted "escrow items."I.ender may estimute the Funds due on the
<br /> basis of currcnt data and reasonable cstimatex of future acrow items.
<br /> The Fands shall be hcld in an institution thc deposits ar accaunts of which are insured ar guarAnteed by A federal or
<br /> stpte agency(including I.ender ii'Lender is such un institution). Lender shall upplv the Funds to pay the escrow items.
<br /> Lender may not charge for halding und applying the Funds, analyzing the account or veri{j�ing the escrow items, unless
<br /> l.ender pays Borrower interest on the Funds and applicable law permit�Lender to make such a charge. Borrawer and
<br /> Lender may agrce in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> reyuires interest to be paid, Lender shall nat br required to pay Barrower any inte�est or earnings on the Funds. Lender
<br /> shall give to Barrower�without charge,an annual accaunting ot'the Funds sho«•ing credits aad 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 /> lf the amount of the Funds held by Lender,together with the fature monthly payments of Funds payable prior ta
<br /> the due dates of the escraw items,shall exceed the amount required to p�y the escrow items when due,the excess shal!be,
<br /> at Horrower's option,either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. IP the
<br /> amouni of the Funds held by l.ender is not sufficient to ps�y the escrow items when due. Borrower shall pay to l,ender any
<br /> amount necGSSary to make up the deficieacy in one or more payments as required by Lender.
<br /> Upon payment in Pull o!'al)sums secured by this Security Instrument,Lender shall promptly refand to Bonower
<br /> any Funds held by Lender. if under paragraph 19 the Property is sold or acquired by Lender,Lender shal)apply,no later
<br /> than immediatcly prior to the sale of'the Propeny 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 lnstrument.
<br /> 3. Applieation of Psyments. Unless applicable law provides otherwise.all payments received by Lender under
<br /> paragraQhs 1 and 2 shall be applied:fint,to late charges due under the Note;secand,to prepayment charges due under the
<br /> Note;third,to amounts payabte under paragraph?;fourth.to interest due:and last,io principal due.
<br /> 4, Clurrges;L,iens. Borrowcr sha1J pay aA taxes.a��ments,c�arges, 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 /> $onower shall pay these obligations in the manner provided in paragraph 2,or if not paid ia that manner.Borrower shall '
<br /> pay thern on time directly to the person owed payment.Banawer shall promptly furnish to Lender all notices of amounts
<br /> to be paid under this paragraph. If 8ottower makes these payments directly. Barrower shall promptly furnish to Lender _.
<br /> receipts evidencing the payments. �:
<br /> 4:��
<br /> �„^::e'::sr�::a!!Ysas��st�3�3is::�a.��azS D;'r��:�ic: 5a�Nrioiiiy u�cr ti�is Sc�;uriiy Insirument untess Tsorrvwer:{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 i:-_
<br /> 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 ur forFeiture of any part�f the Propeny;or(c)secures from the holder af the lien an =-
<br /> agrament satisfactory ta Lender subordinating the lien to this Security[nstrument.If Lender determines that s�ny pan of
<br /> the Prnperty is subject to a lien which may attain priority over this Security lnstrument, Lender may give Borrower a
<br /> notice identifying the ioen.Borrower shall satisfy the iier or take one or cra�re o1'the actions set forth above within 10 days
<br /> of the giving of notice.
<br /> 5. Hazud Insurance. Borrowe�shall keep the improti•ements no�•existing or hereafter erected on the Property
<br /> insured against loss bg f�re.hazards included within the terrn"ectended cc�L�erage"and any other hazards for w•hich Lender .
<br /> requircs insueance. ThES insurance shall be maintained in the amounts and for the periods that I.ender requires. The
<br /> insurance carrier prociding the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br /> unreasonably withheld. —
<br /> AU insurance policies and renewals shall be acce��a&°�to Lender and shall include a standard mortgage clause. ��
<br /> Lender shall have the right to hold the policies ar�d renew•a1s. If L.ender requires,Borrower shall promptly give to Lender
<br /> all receipts of paid premiums and renewal notices.{n the evenc of loss, Barrower shaU give prompt notice to the insurance ;��
<br /> carrier and Lender.Lender may makc praof of loss if not made promptl}by Borrower. .
<br /> Unless I.ender and Borrower otherwise agree in writinR.insurance proceeds shaU be applied to restoratio�or repair •
<br /> of the Property damaged,if the restoration or repair is econarttically feasible and l.endcr s security is not tes.uned. If the
<br /> restoration or repair is not economically feasible or Lender's security a�ould be lessened,the insurance preceeds shall be
<br /> appliod to the sums secured by this Security Instrument, whether or not then due.with any excess paid to Borrower. tf
<br /> Borrower abandons the Property,or does not answer within 30 day�s 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 secured by this Security InstrE►�ent. w�hether or not then duc. The 30-day period wi11 begin
<br /> when the notice is given.
<br /> Unless Lender c�nd Borrower otherwise agree in writing,any app➢�cation of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragrap�hs t and 2 or change the amount of the payments. If
<br /> under paragraph 19 the Property is acquirod by Lender.Bonovver's right ta any insurance policies and ptocecMs resulting
<br /> from darnage to the Property prior to thc acquisition shall pass to Lender to the extent of the sums secured by this Security
<br /> Instrument immediately prior to the acquisition.
<br /> 6. Preservallon and:Naintenance of PropeRy;Leaseholds. Horrower�hall not desttoy.damage or substantially
<br />, change the Propeny, allow the Property to deteriorate or commit waste. If th�s Security Instrumem is on a leasehold. _____ ,__
<br /> Borrowet shall comply with the provisions of the lease,and if Borrower acqwre,fee Utle to the Property,the leasehold and � �
<br /> fee title shall ndt merge unless Lender agrees to the merger in writ�ng.
<br /> 7. Prottction ot Lender•s Piights in the Property; '�1ort��e lnsurance. If Borrow•er fa�ls t� perform thc
<br /> covenants and agreements contained in th�s Secunty Instrurnent,ar there tr a Icgal proceedtng that may��gn�ficantly�affrct
<br /> l.ender's rights m the Property (such ac a prnceeding m bankruptcy, prc.bate, f��r rnndemnahon �r t��enforce law�� �r
<br /> regulations),then i_ender may do and pay for whatever i5 neceswry�to protect the�alue af thc Pmpert�•and[_endcr's nFhtr
<br /> m thr Prnperly. i.ender's acuons may incfude paying any surns tiecured h}�a I�en �tihirh has pr�unt< <��er thi� Srrun�ti �
<br /> � In4t�ument,appeannR�n cc�urt,paying reasonable attorneyv'feec and cntcrmE�m the Yrc�pert} t��makc rrreir� nllhouFh
<br /> I.ender may take action undeR th��pacagraph 7,Lender dcx-ti n��t ha�r tc•do w
<br /> Any amc�untc ct+sbursed by I.endrr undcr th�ti par.igPapla 7�hall her��rne addiuon.+l�ich;��f H��rrc�«er.crurcd h. rhi� �nR
<br /> Securuy In�trurnent !'nle5�li�ztmµrr;uuf I,-nder agrre I��„Ihzr term�n(�.�}nu�nt.thr�c:nn��unr��h;ill he.ir uilerr�t fr��m �ii
<br /> the [tate of d�tit�wormcnt at ittc '���tc r.ete nnti .haff hr ra},�C�Ie. ui�ti �nfcre�t u{���t. n��h�r frnm ! rniic•r t�� N�,nn«rr , ��.�,.�
<br /> reyuetitinK pa�rnent -,
<br /> �.� �
<br /> _.��
<br />
|