|
� _ _ I �
<br /> � .
<br /> �
<br /> ' . 106466
<br /> �q,�
<br /> .
<br /> ` UNIFO1tM CoVENANTS. HorrOWei and Lender cavenant ind a�ree x.c('ollows;
<br /> � i. P�y�eat ot PrisctM!ud l�terar PreMYn�eat�d I,�te G�anes. Bonowu shal! promptlY psY whea due .
<br /> tlee prineipal of and anterat on the dtbt evidenced by the Ndote and any prepuymrnt�nd late charges due under the Nate.
<br /> 2. fi��for Taxa aMd INwrance. Subject ta�pplicable law or to�written waiver by Lendcr,Burrower sh�ll pay
<br /> to Lender an the dsy monthly p�yiryents sre due under the Note,until the Nate is paid in full,�sum(••Funds")equst to
<br /> onatwelRh of: (��yarly taaa and assessments which may attain priority over this Security lnstrument; (b) yarly
<br /> lenehold payments or �raund rents on the I'rop�rrty� if any; (c) yeuly huard insurance premiums; and (d) yearly
<br /> mortqge in�urance premiuma,if any.Thae items ue called"escrow items." Lender may estimate the Funds due on the
<br /> basi�of current d�ts and re�sonable estlmata oPfluure acroM items.
<br /> The Funds shall be held in an inadtutian the deposits or accounu of which ue insured or guaraateed by a fedenl or
<br /> . state a�ency(including Lender if Lender i�such arr institution). Lender shall�pply the Fu�ds to pay the acrow items.
<br /> Lender n�y not chuge for holdinE and applyin�the Funds,andyzing the accuunt or verifjring tha escrow ltems�unless
<br /> Lendrr pRys Barrower interat on the Funds and appUcabk uw permits Leader to make such a chuge. Borrower�►nd
<br /> l.cnder enay ap+ee in writing that intetat ahall be paid on the Funds. Unless�n agrament is made or applicable l�w
<br /> rcguii'a lniesest to w�aid� 3.ender stw11�ol ix roquired to pay�orrower any interest or eunings on the Funds.Lender
<br /> thall Sive to Borrower,without chuge,an annw!accoanting of the Funds showing crcdits and debits to the Funds and the
<br /> purpose for�vhich euh debit to the Funds w�s made.The Funds ue pledged as additional security for the sums secured by
<br /> this Security Instrument.
<br /> If the amount af the Funds held by Lender.together with the tt�ture monthly payments of Funds p�yable prior to
<br /> the due data oP the escrow ite�ns,shall eacceed the amount roquired to pay the acrow itans wheai due,the eacas shall be,
<br /> at Homower's option.either promptly rep�id to Borrower or creditod to Borrower on monthly payments of Funds.IS the
<br /> amount of ihe Funds held by Lender is not su�cient to pay the escrow items when due,Borrower shall pay to Lender any
<br /> amount neodsary to mske up the deHciency in ona or more pay�ments as required by Lender.
<br /> Upon payment in ft�U af all sums securod by this Secnrity Instrument. Lender shal)promptly refund to Bonower
<br /> any Fut�ds held by Lender.If under pnragtsph 19 the Property is sold or acquirod by Lender,Lender shall apply,no later
<br /> thau immediauly prior W the sale of the Property or its acquisirion by Lender,any Funds held by Lender at the time of
<br /> appl�Catlon as a credit aaainst the sums aecured by this Sccurity lnswment.
<br /> . A�liatlw ot Paar�eab. Unlas applicabk bM provides otherMise,s!l payments received b�Lender under
<br /> pnrasaphs l and 2 sh�ll be applied:flnt,to late charges due under the Note;second�to prepayment charges due under the � '
<br /> Nat�third�to amounb psyabk under puagraph 2;fourth,to interat dne;and I�at,to printipal due. �
<br /> 4• �IJe�u. Borrower s1u11 piy a11 taaes,assessments,cbuges,Anes and impc�sirions ettribuuble to the
<br /> Property Mhich may attsin priority,ovu this Socurity lnstrumen� and leasehold paymrnts or ground rents, if any. � *_
<br /> Borcrnver shall pay these obli�tiona in the manner provided in paragnph 2,or if not paid in that manner,BarroMer shaU �
<br /> _.__ . n�v them on time directi�r tn th���.�Q.�.���.,,��r„^���sr:h-�'.3 .., y;iy Fur���;i-v;.e,-,ue,i�ii„viicea of unounis `�_��
<br /> ta be pRid under tbis paraaraph. If Borro�rer makes thae pryments directly,Borrower shall promptly fan�ish to La►der �
<br /> reoapts evidencina the paya�eats. � -
<br /> BorroMer shaU promptly dl�chu�e any lien which bas priority over this Security Instrument unless BorroMer:(a) -
<br /> s#rea in Mritinj W the payment of the obligarion aecurod by the lien in a manner acceptsble to Lender;(b)contests in good -
<br /> faith the lien by�or dd'rnds again�t enforcement of the liea ia,legal proceedings�rbich in the La�der's opinion operate to '
<br /> prevmt the eafar�rnt of the liea or forfeitnre of any put of the Property;or(c)axures from the holder of the lien an 's�
<br /> a=noanent satisfacwry to Lender aubondinating the lien to this Secwity Instrument.If I.endu determines that any part of �—
<br /> tbe Property is subject w a lien which may atuin priotity over this Security Instrumrnt, Leader may give Batro�er a
<br /> eotia idaitifjring the lien.Botrower ahaU satisfy the lien or tslce one or more of the actions set fortH abowe writlun 10 days
<br /> . of the pviat of notice.
<br /> s• Na�ard Iaara�ee. Horrower shdl kap the improvements now existing or hereafter erected on the Property
<br /> insured apinst bss by fire,haurds included within the term"extended covenge"and any other hazards for which I,ender , °'
<br /> requira iasuranoe. 'I'his insnrance shall be aiaiatainal in the unounts and for the perieds that Lmder requira. The , �
<br /> inwrance carrier�giovidin�the insurana sball be chosai by BorroMer subjxt to I.mder's appmval which shall not be �.,,�,;.
<br /> unrwo�sWy�vitt�luld. : _-
<br /> All insuraace policia and rmewals shall be acceptable to Lender and shall include a sandud asortgage clawe. , ����,�
<br /> I.ender shall have the right to hold the polieies and reneMals.If Lender requires.Borrower shaZ1 promptly give to Lcnder �
<br /> all rooeipts of paid praniums and renew�l aotic�s.In the evp�t of loss,BorroNer shall give#�roa�pt notice to the insuraace
<br /> � carrier ued Lender.l,ender msy make proof of loss if'not made promptly by BormMer. �
<br /> Unleas Lender aad Borrower otherMise agree in w►riting�inawance proceeds shall be apptied to restoration or repair
<br /> of tbe Property damaaed.if the ratorarion or repair is eronomicalty feuible and Lender's sec�uity is not lesscned.If the
<br /> ratontion or repair is not economically feas�'ble or Leader's sec�uity would be lessened.the insurance praceeds s1�1t be
<br /> applied to she sums secured by thu Secwity Instruax�t,whether or not thrn du�,with any excess paid ta Borrow�er. lf
<br /> HorroWer abandons th�Pro�perty,or deea not ana�rer�thia 30 days a uoda frnm I.ereda that the ins�rr�nce carrier has
<br /> � o�'erod to settle a cl�im�then I.ender nu�y collect the insurance procecds.I.ender may use the prooeeds to��e�rair or restore
<br /> � tbe PropMy a to pay�uma secwed by this Security Instrument,wrhether or not then due.?he 30-day period will begin
<br /> when the notioe is pven.
<br /> Llnlas Lender and Bosro�er otherwiae agra in w►riting�any application of proceeds to principsl shall not eatend or
<br /> patpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the unount of the payments.If
<br /> under p�rainph 19 the Property is acquired by I.ender,Borrower's right to any insurance policies and proceeds resulting
<br /> fnoui damaje to the Property prior to the�cquisition shall pus to Lender to the extent of thr sums secured by this Security �-_--—
<br /> . Instrument immediately prior to the acquisition. .
<br /> 6• PraerraHos u0 M�tatewce of Pro�e�r;Lpseholdr, Horrower shall not destroy,damage or substantially
<br /> chanae the Property. albM the Ptoperty to deterionte or commit wute. If this Security lnstrument is on a leasehold, �
<br /> Borrower shall c�mply�vith the provisions of the tase,and if Bonower acquira fee title to the Propeny,the leasehold and
<br /> fa titk shaU not merae unlas I.ender�gas to the merger in�vriting.
<br /> 1. Protectlo� ot I�e�der'� RI�Yti is t6e Property; Mortp�e I�rsurance, lf Bcirrower fails to perform the �
<br /> L oovenints and asrcements wntained in this Security Instrument.or there is a legal proceeding that may signi6cantly afFect
<br /> l.et�der's ri=ht�in the Property(such as� proceeding in bankruptcy. probate. for condemna�ion or to enforce laws or
<br /> r�e=ulation�).then Lrnder may do�nd pay tor whatever is necessary to protect the value of the Property and Lender's rights �
<br /> in the Property. E,ender's act�ons msy include paying any sums secured by a lien which has pnority over th�s Security �
<br /> Inatrument.appearin6 in court,paying rasonable attorntys'fees and entering on Ihe Property to make repa�rs. Aithough y�t�
<br />_ I,.hedtr msy talce sction under thss paragraph 7,Lender doe�iot have to c!o so
<br /> Any�mounts d�sbursed by I,ender under�his psr�graph 7 shall become add�t�onal debt of Borrower srcured by th�s �• �
<br /> Secunty Instrument. Unless 8orrower and Lender agree to other terms nf payment these amounts chnll btar interest frorn
<br />• the date of dosbursement at the Note rate and shall be payeble, with interest, upon nat�ce fr�m l.ender tc, Borroaer
<br /> teque�t�n�payment
<br /> �
<br />
|