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<br /> �-�~� 10649� �
<br /> UNIFORM GOVE�ANT5 Bc�rrowcr and l.endcr crn�cnunt and ugrce u.Pollc,��r:
<br /> i. Payment of P�inctp�tl�nd lnteresh P�ep�yment and Lvte Charqes. F����raw•cr shi�l) pn,mptly pay wfien dur
<br /> th:.principal nPand interest on tha debt e��icienced hy the N�te e�nd any prepaymcnt nnd In�e�•hn�gec due under�he Note.
<br /> 2. E�ands to�Taxts ant!Iesurance. Subicst t�npplicablc IAw ar ta u writtcn wa�vcr hy Lendrr,8ormwe�shull pa}�
<br /> � to Lender on the day manthl�paymcnts are due undcr the Nate,unti!thc Note is puid in full,u sum("Funds")equal to
<br /> onc-twclRh �f: (w) yea�ly twxes and Assessments which may attain priority o�•cr this Security Ir�strument; (b) yeurly
<br /> lessehold payments ar g�ound rents an the Praperty, iP any; (c) yeArly hazard insurunce premiums; und (d) yearl�
<br /> mortgsge insurance promiums.if any.These items are called"c�crc�w items."Lender may estimate the Funds due an the
<br /> �sis of current data and rcasanabie�timates of future escraw items.
<br /> The l�unds shall bc held in an institution the deposits or accaunts oPwhich are insured or guaranteed by u federal or
<br /> state agency (including Lender if'Lender is such an institution).Lender shall apply the Funds to pay the escrow items.
<br /> Lender may nat chargo for holding and appl�ring the Funds,analyzing the account or verifj+ing the escrow items,unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a ch�rge. Borrower and
<br /> Lender mxy ag�ee io writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> requires interest to be paid�l.ender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br /> shall give to Honower,without charge,an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> purpose for which cath debit to the Funds was made.The Funds are pledged as additional security for the sums secured by
<br /> this Security lnstrument.
<br /> If the amount of the Funds held by Lender.tagether with the future monthly payments of Funds payable prior to
<br /> � ihe due dates of the escrow items,shall exceed the amount required to pay the escrow items when due,the excess shall be.
<br /> • at Borrower's option,either promPtly repaid to Borrower or credited to Borrower on monthly pay ments of Funds.It'the
<br /> amount of the Funds held by Lender is not sufficient to pay the escrow items when due.Borrower shall pay ta Lender any
<br /> amount necessary to make up the deficiency in one or mare payments as required by I.ender. �
<br /> Upon payment in Pull of all sums secured by this Security Instrument, Lender shall prornptly refund to Borro�er ,
<br /> . any Funds held by Lender. IP under paragraph l9 the Property is sold or acquired by Lender,Lender shall apply,no later
<br /> . than immediately prior to the sale of the Property or its acquisition by Lender,any Funds held by Lender st the time of
<br /> applicatian as a credit against the sums secured by this Security Instrument.
<br /> • 3. Applicallon of Payments. Unless applicable law provides atherwise,all payments reoeived by Lender under
<br /> ; parag�aphs 1 and 2 shall be applied:first,to late charges due under the Note;second,to prepayment charges due under the
<br /> � Note;third�to amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> s 4. ��rges;Liens. Borrower shall pay all taxes,assessments,charges,fines and impositions attributable to the
<br /> Property which may attain priority,over this Security Instrument, and teasehold payments or ground rents, if any.
<br /> Bonower 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 person owed payment.Bonower shall promptly fure�ish to Lender all notices af amounts "
<br /> to be paid under this paragraph. If Bonower makes these payments directly, Borrower shall promptly furnish to Lender -
<br /> receipts evidencing the payments.
<br /> �orrower snaii promptiy ciiscnarge any iien which has priority over this Security insirumeni uniess$orrower:(aj -; =:
<br /> agras in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)cantests in good .� �' -
<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 part of the Property;or(c)secures from the holder of the lien an t
<br /> agrament satisfactory to Lender subordinating the lien to this Security Instrument.If Lender determines that any part of � _
<br /> the Property is subject to a lien which may attain priority over this Security lnstrument. Lender may give Borrower a •
<br /> notice identifying the lien.Borrower shall satisfy the lien or take one or more of the actions set fonh above within 10 days
<br /> • of the giving of notice.
<br /> , S. Hazard Insuranee. Bonower shall keep the improvements now existing or hereafter erected on the Property
<br /> insuied against loss by fire,hazards included within the term"extanded coverage"and any other hazards for which Lender
<br /> requires insurance. This insurance shxll be maintained in the amounts and for the periods that Lender requires. The
<br /> ' insurance camer providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br /> unreasonably withheld.
<br /> : AI}insurance policies and renewals shall be acceptable to I.ender and shall include a standard mortgage clause. � k
<br /> , I.ender shall have the right to hold the policies and renewals. If Lender requires, Bonower shall promptly give to Lende:
<br /> � a11 receipts of paid premiums and renewal notices.In the event of loss,Borrower shalt 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 repair : -;
<br /> of the Propeny damaged,if the restoration or repair is econamically feasible and Lender's security is not lessened. If the �
<br /> . restoration or repair is not economically feasible or Lendes's security would be lessened,the insurance proceeds shall be
<br /> applied to the sums secured by this Security Instrument,whether or not then due.with any excess paid to Borrower. If �
<br /> Borrower abandons the Property,or dces not answer within 30 days a notice from L.ender 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 Instrument,whether or not then due. The 30-day period will begin
<br /> when the notice is given. ,
<br /> . Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or
<br /> � postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments.If
<br /> under paragraph 19 the Property is acquired by Lender,Bonower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this 5ecurity
<br /> lnstrument immediately prior to the acquisytion.
<br /> 6. Preaervation and Maintenance o!Property;Leaseholds. Borrower shall not destroy,damage or substantially
<br /> change the Property,allow the Property to deteriorate or commit waste. Yf this Security lnstrument is on a leasehold.
<br /> Bonower shall comply with the provisions of'the lease,and if Borrower acquires fee title to the Property.the leasehold and . �-- �--
<br /> fce title shall not merge unless Lender agrees to the merger in writirtg. �
<br /> 7. Protection of Lender'a Rights in the Property; �iortgage Insurance. If Borrower fails to perform the
<br /> covenants and agreements contained in this Security Instrument.or there is a lega{proceeding that may signiftca�tly affect �
<br /> I.ender's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or ta enforce laws os �
<br /> regulations).then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br /> in the Property. Lender's actions may include paying any sums secured by a lien a•hich has priority over this Security �
<br /> � Instrument,appearing in court.paying reasonable aitorneys'fees and enEerir�g on the Property to make rcpairs. AlthougFr
<br /> l,ender may take action under this paragraph 7.Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragrapt�7 shall become additional debt of Borrower secured by this p,�
<br /> Security lnstrument.Unless Borrower and i,ender agree to other termc of payment,the�e amounts�hall hear interest from ���
<br /> the date of disbursement at the Notc rate and �hall he payablc. �vith mtcrest, upon notice from I_ender t�� Borrow•er
<br />; reques�ing payment. ty �'
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