|
� �
<br /> ��� 1�OV���
<br /> UNIF�oAM Cov�N�N1's. Harsowec and Lender cavenant and agra u fa!lows:
<br /> � 1. Psy�t ot Pri�tip!�/I�teroaq Pre�sya�eat u�l Lte(.1w�a. Borrower shall pramptly psy whcn due
<br /> the princip�l at�d interat o�the debt evidenced by tha Note�nd Any prepay�nent And late charges due under Ihr Note.
<br /> �. ��tor T�ucM�1 I�w��ce. Subject to applic�ble I�w or to a written w�iver by Lender,Bonawer shsll pay
<br /> to Ltnd�r on tbe day monthly p�yme�tts ue dut under the Note.until the Note is p�id in ftt11,s sum('•Fund�")cs�w!to
<br /> one•twetRh of: (��yarly ��p and assessments which m�y atuin priority over this Security Instrument; (b) yeuly
<br /> katebold paymeota or �raund rcnu on the Property, if any; (c) yarly hazard insurance pnmiums; Atnd (d) yeuly
<br /> mott�e Insurmce premium�,if�ny.7'hese items�re c.�lled"acroa items."Lender msy atimste th��uads duo o�the
<br /> � bals o!'current dau and ra�son�bleatinuta of ftiturc acrow items.
<br /> The Funds shall be held in an institution t1u deposits or�coounts of which are insured or guaranteed by a federal or
<br /> st�te a�a�cy (inetudin�Le»der if Lrnder is such an instltution). Lender�hsli�pply the Funds ta p�y the acrow items.
<br /> Lender msy twt chuge for haldin=and applyina tlrc Funds,aaalysing the account or verifyin�the acrow items�unlas
<br /> Lender psy�Horrarver lnterat on the Fur�ds and applicable IaM+permits Lender to make such a chuge. Borrower�nd
<br /> La�der may asree in Mritins that interat shall be paid on the Funds. Unlas an agrerment is a�ade or spplicabk law
<br /> requins interest to be p�id.L.et�der shsll not be roquirod to psy BorroMer any interest or eaminjs on tht Funds.l.ender
<br /> sball pve to Borrow�er,Mithout char�e,aa annw)acxountina of the Funds showing credits and debits to the Funds and the
<br /> pu�poa for w►hich ach debit to the Funds wu made.The Fw�ds are pledgod as additional security for the sums secured by
<br /> t�Security Instrument.
<br /> If tlu smount of'the Fuads heW by Lender.to�ether�vith the Potnre monthly psyme�ts of Funds pay�ble prtor to
<br /> the due dues oithe acrow►itahs�'sball ea�caed the amount required to psy the escmw items when due,the excess shaU be,
<br /> at Borrower's option.dther protnptly repaid ta Borrower or credited to BorrQwer on monthly payments of Funds.If the
<br /> amount of the Fund�held by La�der is�ot sufscient to psy the escrow itwr�s whrn due,Borrower sI�all piy to Lender any
<br /> amount neassary to make up the deflcicncy in one or more p�yments as roquired by Lender.
<br /> Upon psymrnt in fiill of all sums aecwed by tbis Security Instrument.Lender shap pmmptly rcfund to Bonowor
<br /> sny F�nds heW by Lsrider.If nnder puagraph 19 the Property is sold or acqnirod by Lender,Lender ahall apply,no later
<br /> thaa immedistely ptior to the sak oP the Property or its acquisition by Ltnder.any Funds held by Lmder at the time af
<br /> spplicatlon as a credit apinst the sums secured by this Security Instrnment.
<br /> 3. Ap/lid�tlo�of Pprae�b. Unkss applicalrk 1aw provides atherwise,all paymeats recdved by I.ender under
<br /> p�ra jraphs 1 and z shall be apptied:firat,to iate char6a due under the Note;second,to prepsyment ch�ges due under the �.,'
<br /> IrocG third,to amounts payabk under para�raph 2;fonreh,to interat due;and last,to princip�l due. f��-
<br /> �. Ctiry�Y.1eiu. Horrower shall pay all taxes,assasmants,chuges.Rna and imposiriom sqri6uabk to the � '
<br /> Property wrhicb may utain priority,over this Security Itutruataat, aad lasehold aymenis or ground rents, if any. 1.=�`-
<br /> Borm�rer shall pay thae obUptions in the manner provided in paragraph 2,or if.not paid in that manner,BorroMer shaU -
<br /> �wiy ina.,�u i'w,c u;;o�;uy w t ic pwivn Gwuci pa�jr»urni.mrrowrr sn�w prom�i�iumisn iv iencier ail ttaiices oi amounis '
<br /> � . to be paid unda thi�panp�aph.If BorroMer maka ttaae psyments directly,Harrow+er shall pmmptly fumiah to I.ender '
<br /> �a�n►��s�p.y��. �
<br /> Horro�►er shill promptly dischuge any lien which has priority over this Security Instrument unlas Borrorver:(s) ' �
<br /> a jrees in a►ritia j W tbe paynKnt of the obliptioa aecured by the lim in a manner accepubk to Ixnder;(b)contesu ia good .
<br /> faith the lien by,or defends adainst enforoemmt of the Iiea in.le�l proceadinas wrhich ia the Lender'�opinion operate to •
<br /> preveat tl�e rnfoneement of the lien or forfeitun of ury part of tbe Property;or(c)secures from the holder oP the lien aa
<br /> asreemeat suisfictory to Lender subordinating the lien to this Sacnrity Instrumea�If Lender determines thit any part of
<br /> ' the Property b subject to a lien whicb may attain priority over�his Security lnstrumrnt,I.a►der nuy �ve Borrn�Ter a ,
<br /> . notioe idaitifyins tlu lirn.Borrower sball satisfy the lirn or take one or more of the sctions set farth above within 10 days �
<br /> ' of the aivins of notia. �
<br /> !� S. H�s�+i Ir�uea BorroMer shall keep the improvements now existin6 or herafter erected on the Property
<br /> insw+ed apinst bss by fire,hszards included within the term"ea�trnded ooverage"and at�y other hszards for which Lender
<br /> requirea insurance. This insurance shalD Et maintdned in the amounts and for the periods that I.ender requira. The �
<br /> inwraace carrier providinj the i»surana sh�ll be chosen by Borro�ver aubject to Lender's approval which shall not be . ` -�
<br /> , unrea�onably writhheld.
<br /> AU insuru�ce licies and renewals shall be ��—�
<br /> . po acceptable to Lender and shall include a standard mortgagc clsuse. ;. ;��:�.
<br /> Lender shall have the ri`ht to hold the policies and renewals.If Leader requira�8orrower shall promptly give to I.eader
<br /> all recxipts of paid premiums and renewal notices.In the event of Loss,Bono�rer sh�ll give prompt notice to the insurance �
<br /> carrier and Lender.Lender may mske proof of laas if not made promptly by Borrower. _
<br /> Unless Lender and BorroMer othenvise agree in writina,insutance proceeds shal!be applied to restontion or repair
<br /> of the Property damaEed,if the tatontion or repair is economically fasible and Lender's security is not lessened. If the
<br /> , ratoration or npair is not eoonomically fasible or Leader's security Mould be lessened,the insurance proceeds slull be
<br /> appliod to the wms secured by this Security lnstrument,Mhether or not then due,with any excess p�id to Harrowcr.If
<br /> Bornt+ra sbaadons Wr psopesty.or daes aat answcr within 3fl days a natice iram Lender that the insur�nce carrier has
<br /> oA'eted to settk�claim,then l.ender msy callect the insurance proceeds.Lender m�y use the prooeeds fo repair or ratore
<br /> the Property or to py tums secnred by this Security Instrumrnt,whether or not then due.Thr 30-day period aill begin
<br /> rvhen ihe notioe a pven.
<br /> Unkss Lerider and Borrower otherwise agra in a+riting,any application of procads to principal shall not eatend or
<br /> patpone the due date of the monthly payments referreal to in puagaphs 1 and 2 or change the amount of the paymer�ts.If
<br /> under parajnph 19 the Proporty is acquired by Lender,Horrower's riEht to any insunnce policies and proceeds r�sulting
<br /> from dams�e to the Property prior to the scyuisition sh�ll pus to Lrnder to the extent of the sums securcd by this Secarity __-__- __
<br /> lnstrument immediately prior to the acquisition. :
<br /> 6. Pre�er�atio�a�i MdRte�a�ce o(Properfb,I,tateYolds. Borrower shaU not destroy.damnge or substantially
<br /> chan=e the Praperty, albw the Property to dcteriorate or commit waste. If this Security Instrument is on a te�sehold, �
<br /> Borroaer sha11 comply with the provisions of the lease.and if Borrower acquires fee title to the Property,the leasehold and '
<br /> fa titk shall nol merae unkss I.ender aarets to the merger in writing. ,
<br /> 7. Probetlo� ot i.e�der'� Rldts in t�e Property; Moet�e Insu�a�ce. lf Borrower fails to perform the
<br /> covenanta and a�reements contained in this Security lnstrument,or there is a legal proceeding that may signiflcantly affect
<br /> L I.ender's ri=hts in the Property(such as a procading in bsnkruptcy, probate, Por condrmnation ar to enforce laws or
<br /> te�ulatiorts),then Lender msy do snd pay for whatever is necessary to protect the value of the Propeny and Lender's nghts
<br /> in the Propesty. L�ender's actions may include psying any sums secured by a lien which has priority over this Secunty ���
<br /> instrument,apparing in cnurt,paying r¢asonable attomeys'fees and entering on the Property to make repa�rs.Although
<br /> Lender may akt action under this paragraph 7,Lender does not have to do so.
<br /> •Any�mounts disb�tsed by i.ender undar this pan��aph 7 shall become add�t�onel debt of Bnrrower securtd by this � ,�
<br /> Secunty Instrument.Untess Borrower and l.ender agrte to other terms of payrrient,lhese amnunts shall t►ear intcrest from
<br /> the Aate of d�sbursement at the Note rate and shall be payable. w�th �nterest, upon not�ce frc�m Lender ra F�<�rrowcr
<br /> requesun�payment
<br /> �
<br />
|