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<br /> 89- 10658�
<br /> . UN1FORM CovEtv�ntTS. Borrower and Lender caventnt and agree�s faqows:
<br /> r 1. Payiaeat o!Principtl and Intera�Prep�ymeat and Late CAar�a. Borrawer shAll promptly pay when due
<br /> f the pri�ncipal oPa�d inttrtst o�the deht cvidence+i by the Note and�ny prepayment and late charg�s due undet tha Note.
<br /> 2. Fu�[or Tuca�ad l�qranee. 5ubject to appficable I�w or to a written waiver by Lender,Bar�ower sh�U psy
<br /> ta l.�nder on thc day monthly payments are due under the Note.until thr Note is paid in full,a sum("Funds")equal to
<br /> one-twelRh of: (a�yearly taaes snd assessments which may atuin priority over this Security Instrumcnt; (b) yearly
<br /> le�ehold p�yments ar ground rents on the Property� if any; (c) yarly hazard insunnce premiums; and (d) yearly
<br /> mottgage insurar�ce premiums,if ar►y.These items are called"escrow items."Lendtr may estimate the Funds due on the
<br /> basis oPcurrent dau and reuon�ble atim�ta of future escrow items.
<br /> The Funds shall be held in an institution the deposits or accounts of which ue insured or guarantecd by A federal or
<br /> sute a�ency(including L.ender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br /> Lender msy not chuge for halding and applyins the Funds,snalysing the account or verifying the escrow items,unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a chuge. Bonower�nd
<br /> l.ender au�y agree in writing that interest shal! be paid on the Funds. Unless an agrament is made or applicsble law
<br /> requires intuest to be paid,Lendor shall not be required to pay Borrower any interest or earniags an the Funds. LendCr
<br /> shall give to Honower,without chuge,an annval accounting of the Funds showing credits and debiu to the Funds and the
<br /> purpose for which ach debit to the Funds wa,s made.The Fs�nds are pledgod as additional security for the sums sccured by
<br /> this Socwrity lnstrument.
<br /> If the amount oP the Funds held by Lender�together with the future monthly payments of Funds payable prior to
<br /> the duc dates of the escrow items.shall exceed the unount required to psy the escrow items when due,the cacas shall be,
<br /> at Borrower's option,either promptly repaid to Borrower or credited to Bonower on rtionthly payments.of Funds.If the
<br /> amount of the Funds held by Lender is not sui6cient to pay the escrow items when due.Borrower shall pay to Lender any
<br /> amount necessary to make up the deficiency in one or more payments as required by Lender.
<br /> Upon psyment ia fi�ll of all sums xcwed by this Security Instrnment.Lender shall promptly refund to Bonower
<br /> any Ftinds held by l.ender.If under paragraph 19 the Property is sold or acquired by Lender,Lender shall apply,no later
<br /> than immedistely prior to the sale of the Property or its acquisition by Lender.any Fnnds held by Lender at the time of
<br /> ' �ppUcation as a credit agsinst the sums secured by this Security Instrument.
<br /> 3. Ap�li�atios o!Payeie�ts. Unless applicable law provides otherwisG all payments received by Lender under
<br /> paragaphs 1 and 2 shall be applied:first,to late charges due under the Note;second,to prepayment charges due under the .
<br /> Not�third,to amounts payable under parsgraph 2;fourth�to interest due;and last,to principal due. �
<br /> 4. Ctiar�er,I3as. Horrower shall p�y all taxes,assessments�charges�flnes and impositions attributable to the � '. .
<br /> Property �vhich may attain priority,over this Security Instrumrnt, and leasehold payments or ground rrnts. iP any. ;.;,
<br /> Horr�oMtr shall psy thtse obligations in the manner provided in pa�xgaph 2,or if not paid in that manner,Borrower shall `
<br /> pay them on time direcdy to the person owed psyment.Horrower shall Dromptly furnish to Lender all notices of amounts i._�.f��'
<br /> to be paid unda thie puagraph.If Borrowu makes these payments directly,Horrowet shall promptly fomish to Lender -=`'
<br /> reaipts evideucing the psyrrieats. � ,=
<br /> � Borro�ver slull promptly di�chuge any lirn which hss priority over this Secnrity Instrument unless Borrower:(a) -
<br /> agras in writing to the payment of the obligation secivad by the lien in a manner acceptable to Lender;(b)contests in good -=
<br /> fait�t t3�litn by,or defends against enforceneent of the lien in,legal procadings�vhich in the Leader's opinion operate to �
<br /> prevatt the enforcematt of the lien or forfeiture of any part of tbe Pmperty;or(c)secures from the holdcr of the lien an —
<br /> asreement satisfutory 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 Instrument� Lender may give Ba�rower a
<br /> notice identifying the lien.Borrower shall satisfy the lien or talce one or more of the actions set forth Above within 10 days �
<br /> of the giving of notice.
<br /> S. H�rard Iiuura�ce. Borrower shall kap the improvements now existing or hereafter erected on the Property ;
<br /> insuro�ag�inst loss by flre.hazards includod within the term"extended coverage"snd any other ha�ards for which Lender }
<br /> requins insurance. This insurnnce shaA be maintained in the amounts and far the periads that Lender rtquires. The '
<br /> insuraace carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be ;t,�.�
<br /> unreasontbly witbheld. s .�'" :.
<br /> All insurancx policies and renewals sh�ll be acoeptable to Lender and shall include a standard mortgage claase. ��"��
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<br /> I�snder ahall have the right to hold the policies and renewals. If Lender requires,Borrow�r shall prompily give to Lender
<br /> dl raxipts of paid premiums and renewal notices.In the event of toss,Borrower shall give prompt notice to the inswance '
<br /> canier and I.endes.Lender may make proof of loss if not made promptly by Honower.
<br /> Unless Lender and Borrower otherwise agra in writing,insurance proceeds shall be appliod to restoration or repair �
<br /> of the Property damaged, if the restors�tion or repair is economically feasibk and Lender's security is not lessened.If the
<br /> restontion or rep�ir is not economically feasible or Lender's security would be le,csened,the insurance proceeds shall be
<br /> spplied to the sums secured by this Security Instrument,whether or not then duq with any excess paid to Borrower. If
<br /> Boiscnver abi�lo�s the Property,or das not answer within 30 da�rs a notice from Lender that thr insurancc carrier has
<br /> � � os'ered to settk a clsdm,then Lender may collect the insurance proceeds.Lender may use the proceeds to repair or ratore
<br /> _ the Ptoperty or to p�y sums secured by this Security Instrument,whether ar not then due. ?he 30-day period will begin
<br /> w►hen the notice is given.
<br /> � Unless Lender and Bonower otherwise agra in ariting,any application of proceods to principal shall not extend or
<br /> postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under puagnph 19 the Property is acquired by Lender.Borrower's right to any insurance policies and proceeds resulting
<br /> from damaae to the Property prior to the acquisitioe shall pass to Lender to the extent of the sums secured by this Secanity
<br /> : Inatrumrnt immediately prior to the acquisition. ----
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<br /> 6. PreaenaHon and Mdeteeance o!Propert�;Lea�eholds. Bonower shaq not destroy,damage or substantially �
<br /> change the Property, allow the Property to deteriorate or commit waste. lf this Security Instrument is on a leasehold, i
<br /> Hotrower shall comply with the provisions of the lase,and if Borrower acquires fa title to the Property,the leasehold and �
<br /> fee titk ahall not merse unless Lender agrees to the merger in writing. i
<br /> � 7. Protectioo at Le�ds�'s Ri�6U in t6e Property; Mortgage Inaunnce. If Borrower fails to perform the _
<br /> covenants and agteements contained in this Security Instrument.or there is a Itgal praceeding that may significantly affect �
<br /> L l.ender's riahts in the Property(such as a praeeding in bankruptcy. probate, for condemnation or to enforce laws or
<br /> re=ulations).then l.ender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br /> � in the Ptopetty. Lender's actions may include paying any sums secured by a lien which has pnonty over th�s Security h
<br /> � tnstrument,sppearing in coun,paymg reasonable attorneys'fees and entering on the Property to make repaus. Although yp
<br /> Lender m�y take action under�h�s paragraph 7.Lender does not have ta cio s� !��
<br /> Any amountsdisbursed by l,ender under this paragraph�shali become add���ona{debt of Borrower cecured by th�c �`
<br /> 9ecunty lnsttumem Unless Borrowcr and Lender aRree to other terms of payment,lheu am�unts shall bear intetest from `
<br /> - � the date uf dubursement at thc No�e rate and shall be paybbie, wrth interts�, upon n�tire fr�m I,endrr to Hormwer
<br /> � reyu�suna paymen�
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