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<br /> $g- 10634�'
<br /> UNIFORM CovEN�N7'S. BoROw�r and Lender coven9nt and agree ac follmvs:
<br /> 1. P�yne�t ot PNscipal s�d latersst; f'�ep+�yment aad l.ate Ch�rges. Borrowcr shall promptly pay whcn duc
<br /> the principal oPand interest on the debt evidenced by the Note and anv prepayment and lnte chstrge�due under the Note.
<br /> 2, �ndt tus Taxes aa�lnsur�nce. Subject to applicable IAw ar ta a written wAiver by Leuder,Bor rower sl�ail pay
<br /> � to Leii�iea o�tF�e day�i�oi►ti�ty pay�er�ts aie due under the Note,untit thr Tdat�is p�id in full,a sum("Fund�')equal to
<br /> ane-twelRh af (a) yeuly taaes snd assessments which rrtay attain priority over this Security Instrument; (b) yearly
<br /> teasehold payments or graund rents on the Property. if any: fc) yearly hazard insurance premiums; and (d> y.arly
<br /> mortpae insurxncc premiums,if any.These items arc called"cscraw items."Lendcr may estimate the Funds due an the
<br /> M�is�afcurnnt dat��nd re�soaabk eatimAtas af futu�e esc�aw item$. �
<br /> The Funds shall6e held in an institution the depasits or accaunts of which are insured or guarantced by a federal or
<br /> sqte saency(including Lender iP L.ender is such an institution). Lender shall apply the Funds to pay the escraw items.
<br /> Lrnder msy nat charge for holding and Applying the Funds,an�lyzing the,account or verifj+ing the escrow items,unless
<br /> Lrnder pRys Horrower interest on the Funds and applicable law permits Lender to make such a charge. Bonower and
<br /> Lender may agree in writing that interest shall be paid an the Funds. U�less an agreement is made ar applicable law
<br /> requira interest to be paid, Lende�shAll not be reyuired ta pay Borrower any interest or earnings on the Funds. l.ender
<br /> st�all give ta Borcower,withaut charge,an annual accounting of'the Funds showing credits and debits to the Funds and the
<br /> purpose ior which each debit to the Funds was made.The Funds are pledgod 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 fl�ture monthly payments of Funds payable prior to •
<br /> } the due dAtes of'the escrow items,shall exceed the amount required to pay the escrow items when due,the exce�s shall be,
<br /> at Borrowtr's option,either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds.IP the '
<br /> amount of the Funds hcld by Lender is not sufficient to pay the escrow items when duc.}3orrower shall pay to Lender any
<br /> amount necessary to maks up the deftciency in ont or more payments as required by Lender.
<br /> Upon payment in fuil of all sums secured by this Security Instru�ent,Lender shall promptly retiind to Borrower
<br /> any Funds held by I.ender.IPunder paragraph 19 the Property is sold or acquired by I.ender,Lender shal)apply,no later
<br /> than immediately prior to the sale af the Property or its acquisition by Lender.any Funds held by Lender at the time of
<br /> application as a credit agains!the sums secured by this Security Instrument.
<br /> 3. Appliqttion ot Pay�nent�. Unless applicable law provides otherwise,all payments received by Lender under
<br /> paragraphs 1 and Z shall be applied:first,to late charges due under the Note;second,to prepayment charges due under the �
<br /> Notr.third.to amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4. C6arga;Lien�. Borrower shall pay all taaes,assessments,charges,fines and impositions attributable to the �
<br /> . Property which may attain priority over this Security Instrament, and leaseho2d payments or graund 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 � ;
<br /> . pay them on time directly to the petson owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br /> . to be paid under this paragraph.�If Borrower makes thecsee payments directly,Bonower shall promptly furnish to Lender � -�?��
<br /> : receipts evidencing the paymenu. � � = °
<br /> &►rrower shall promptly discharge any IieR which has priority over this Security lnstrument unless Bonower;.(a). " -
<br /> - � �gs.;w i:�r'sling su i����m�n:at'i:�t a5ligaiiass sxusw!sy:h:licss in a mN:sncs ac:,:�.:.�:�.a Lcrs�cr,(ts3 cast.;�t�it�gucd� - ,z
<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 or forfeiture of any pari of the Property;or(c)secures from the holder of the lien an -
<br /> ' ! agreement satisfactory to Lender subordinating the lien ta this Security Instrnment.!f Lender determines that any part of
<br /> ' the Property is subject to a lien which may attain priority over this Security Instn�ment, Lender may give Borrower a
<br /> notice identifying the lien.Borrower shall satisfy the lien or take one or more of the actians set forth above within 10 days
<br /> of the giving of notice.
<br /> + S. Hazard Insurance. Borrower shall keep the improvemenu 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 be 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 which shall not be
<br /> . unreasonably withheld.
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br /> � I.ender shall have the right to hold the policies and renewals.IP Lender requires,Borrower shall promptl}gn-e to Lender ��.
<br /> all receipts of paid prerniums and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance ��--
<br /> carrier and Lender.Lender may make proof of loss if not made promptly by Borrower. �;-
<br /> ' Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repsir �' �:�
<br /> of the Property damaged,if the restotation at repair is economically feasible and Lender's security is not lessened. If the �-�
<br /> restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be
<br /> applied ta the sums secured by this Security Instrumeni,whether or not then due,with any excess paid to Borrower. If �
<br /> Bonowet abandons the Property.or dces not answer within 30 days a notice from Lender that the insurance carrier has
<br /> ; offered to settte a claim,then Lender may coliect 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 wiil begin
<br /> when the notice is given.
<br /> _ i Untess Lender and Borrower otherwise agtee in wreting.any application of proceeds to principal shall aot extend or
<br /> postpone the due date of the montEtfy payments referred to in paragraphs 1 and 2 or change the amount of the payments.lf
<br /> ; under paragraph 19 the Property is acquired EiS Lender, Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the�'coperty prior to the ac�ui�ition shall pass to Lender to the extent of the sums secured by this Security
<br /> Instrument immediateiy prior to the acquisitz�iir. '
<br /> 6. Preservation u�M M��t�ntnce ot Property;I.easeholds. Borrower shal{not destroy,damage or substantially
<br /> change the Propeny. allow the Propeny to deteriorate ar commit waste. If this Security Instrument is on a leasehold,
<br /> � Borrower shall comply with the provisions of kite lease,and if Borrower acquires fee title to the Propeny,the leasehold and ►-_'___— L
<br /> � fee title shall not merge unless Lender agrees to the merger in writing. '
<br /> 7. Pratection ot I.ender's Rights in the Property; Mortgage lnsurance. If Borrower fails to perform the I
<br /> eovenants and agreements eontained in this Seeurity Instrument,or there is a legal proceeding that may significantly affect �
<br /> Lender's rights in tt�e Propeny (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws ur .
<br /> regulalions),then Lender may do and pay far whatever is necessary to protect the value of the Property and Lender's rights
<br /> in the Properiy. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br /> i Insirument,appraring in court,paying reasonable attomeys'fees and entering an the 1'roperty ta make repair�. Although
<br /> L Lender mxy take acnon under this parngraph 7,Lender dc�es not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become addrttcmal debt of Barrow•er�ecured by ib� �
<br /> Secunty Instrument. Unless iiorrower and Lender agree to other terms of paymen�,the�c am��unts�hall bcar intcrr�t kc►m �
<br /> ihe date of disbutsement at the Nate rate and shall be payable, with imere�t. u�+c�n n��ure from Lcnder tn Jinrn»�cr
<br /> reRuest�ng payment. f�
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