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<br /> I gg,� 106586
<br /> UNiFOttt�CovEN�t�t7's. Borrawcr snd Lendcr cavensnt snd agree as fallaws:
<br /> � 1. P�yMeat ct PriAClMI a�d Iatsra�PreMy�rat aad Late Ch�rga, Borrower sh�l) p�omptly pay when duc
<br /> the prinelpal of�tnd ir►terest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> ). Fw�tar Tiuc��ad Iawruice. 5ubject to�pplicable law or to a written waiver by Lendcr.Borrower shall p�y
<br /> to Lrnder on�he day monthly payments ue due under the Note,until the Note is paid in full.a sum(•'Funds")equal to
<br /> o�e-tMelfth ofc (a}yarly taxes and assessments which m�y attain priority over this Security lnstrument; (b) yearly
<br /> leaehold payments or �round nnts on the Property. if�ny; (c) yarly h�tard insuraace premiums; and (d) yearly
<br /> mort�aje insurance prcmiums,if any.Thae items are called"arrow items."Lender may estimnte the Funds due on the
<br /> b�sis of curra�t data and re�sonable atinutes of tl�ture acrow items.
<br /> Tlie Fuads shall be held i�an institudon the deposita or accounts oPwhich ue insured or guaranteed by a federal or
<br /> state a�enncy(includin�I.ender if Lrnder is such an institution). Lender shaU apply the Funds to pay the acrow items.
<br /> I.ender msy not sharge for holding and applyin�the Funds, analyzing the account or verif�ring the escrow items,unless
<br /> Laider pays Borrowe.�interat on the Funds and applicable law permits Lender ta make such a charge. Bonower and
<br /> Lender msy aaree in writing th:t interest shall be p�id oa the Funds. Unless an agreanent is tnade or applicable law
<br /> rdqulres Intercst to be paid,Lender shall not be required to pay Borrower any interest or esrnings on the Funds.Lrnder
<br /> shall�ive to Borrower,without chuge,an annwil accountina of the Funds showing credits and debits to the Funds and the
<br /> purpose for which each debit to the Funds wss ma�e.The Funds are pledged as additional security for the sums secured by
<br /> this Security Instrument.
<br /> If the amount of the Funds held by I.ender,together with the future monthly payments of Funds payabte prior to
<br /> the due data of the eseroM iteras�shsll eacad the amount required to pay the escrow iterns when due,the excess shall be,
<br /> at HorroMer`s option,dther promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br /> amount of the Funds held by Lender is not suf8cient to pay the escrow items when due,Borrowa shall pay to Lender any
<br /> amount necessary to make up the de8ciency in one or more payments as required by Lender.
<br /> Upon psyment in fLll of all sums secured by this Security Instrument,Lender shall promptly refund to Borrower
<br /> any Funds held by I�euder.If under puagraph 19 the Property is sold or acqaired by Lender.Lender shall apply.no later �
<br /> than immediately priar to the sale of the Property or its acquisition by Lender.any Funds held by Lender at the time of
<br /> application as a credit against the sums secured by this Security Instrument.
<br /> 3. A�/lieat�of Pa�esb. Unless applicable law provides otherwise,all psyments received by Lendet under
<br /> parsgraphs 1 and 2 shall be applied:flrst,to late chuges due under the Not�second,ta prepaymrnt charges due under the �
<br /> ; Note;third,to amounts payable under pusgraph 2;fourth,to interat due;and last.to principal due. ;
<br /> � 4. G�IJen. Borrower shsll pay all taxes.aasessmaits.charges,fuzes and impositions attributable to the
<br /> Property Mhich msy atuin priority,over this Security Instrument, and le�sehold paymenu or ground rents. if any. �
<br /> Borrorver shall psy these obligations in the manaer providod in paragnph 2,or if not paid in that manner,Bornowrer sha1) ; � a
<br /> p�y iaem on time dire�tiy to tbe pe�n owe�payment.lsortower shall p�•omptty furnish to Lender all notices of smounts j�
<br /> . to be p�id under this par��raph. If Honower makes these payments dirxtly,Borrower shall promptly Pornish to Lender �� -
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<br /> � receipts evidencing the paymrnts. . -
<br /> Horroaer shall promptly discharge any lim which has priority over this Security Instrument unless Bonoaer:(a)
<br /> aarees in Mriting to the payment of the obligarion secured by the lien in a mmner aoceptable to Lender,(b)contests in good . -
<br /> faith the lirn by,or defrnds against enforcement of the lirn in,kgal proceedings ahich 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 �'
<br /> ' aaraKnent utisfactory to Lrnder subordinating the lien to tlus Secwity Instrument.If Lender determines that any psrt of �
<br /> , the Property is subject to�lien which may attain priority over this Security lnstrument, Lender may give Barrower a
<br /> ' notice identifying the lien.Borrower shall satisfy the lien or talce one or morc of the actions set forth above within 10 days
<br /> of the givina of notice.
<br /> � 5. Harard Imaraaea Borrower shall keep the improvements now exisring or hercafter erected on the Property
<br /> , insured sg�inst loss.by�re,hazards included within the term"extended coverage"and any other hazards for which Ltnder
<br /> ! rcquires insurance. This inauruice ahall be maintained in the amounts and for the periods thai Lender requires. The
<br /> insurance curier pmviding the insursna shall be chosen by Borrower sub,j�ct to Lender's approval which shall not be �
<br /> unrea�onably vrithheW. .�:
<br /> All insuruice policies and renewals shall be acceptable to Lender ind shall include a standard mortgage clause. �����:
<br /> Lender ahall have the right to hold the policies and renewals.If Lender requires,Borrower shall promptly give to Lender •
<br /> all reaipts of paid premiums and ren�wal notias.In the event of loss,Borrower shall give prompt notice to the insurance �
<br /> carrier and Lender.Lender may mslce proof of loss if not made promptly by Borrower. .
<br /> Unkss Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restaratiun or repair
<br /> of the PropeRy damzgod,if the resWration or repsir is oconomically fasible and Lender's security is not lessened.If the
<br /> resWrarion or repair is not oconomically feasible or Lender's secwity would be lasened, the inanrance proceeds shall be
<br /> applied to the sums socured by this Security Iasttument.whether or not then due. with any excas paid to Borrower. If
<br /> , $orrawer ab�endons the Property,or does not answer within 30 ds�ys a notice from Lender that the insurance canier h�s
<br /> oQ'erod to settle a eLim,then I.ender may collect the insurance proceeds.Lender may usa the pracoeds to repair or restore
<br /> . the Property or to pay sums secured by this Security Instrument,whether or not thrn due.The 30-day period will begin
<br /> Mhen the notice is given.
<br /> Unless Lendcr and Bonower othervvise agra in writing,any application of proaeds to principal sha11 not extead or
<br /> poatpone tha due date of the montbly payments referred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under psrsgraph 19 tht Property is acquired by Lender,Borrowtr's right to any insurance policies and proceeds rcsulting
<br /> from damtge to the Property prior to the acquisition shaU pass to Lender to the extant of the sums secured by this Secvrity __ _ _ _
<br /> Inatrument immcdiatdy prior to the acquisition. ;` --
<br /> , 6. Prqenatton and Mdntenance o!Properfb,Lesseholda. Horrower shaU not destroy,damage or substantially
<br /> ehange the Property, alloa the Property to deteriorate or commit waste.lf this Security Instrument is on a leasehold.
<br /> Borrower ahal)comply with the provisions of the ie�se,snd if Bonower acquires fee title to the Property.the leasehold and ' �
<br /> fa titk shall not merge unless Lender agrees to the merger in writing. � •
<br /> 7. Protection at Lender•s Righb in the ProDerty; Mort�t�e Insurance. If Borrower fails to perform thc
<br /> eovenants and agraments contained in this Security Instrument,or there is a legal proceeding that may significantly affect �
<br /> L Lender's rights in the Property (such as a procading in bankruptcy, probate, for condemnation or to enforce laws or
<br /> reaulationa),tben Lender msy de and pay for whatever is necessary to protect the value of the Propeny and Lender's rights
<br />" in the Property. Lendet's actions may include paying any sums secured by a lien which has priority over this Security h•
<br /> lnstrument,appearing in court,paying reasonable attorneys'fees and entering on the Propeny to make repairs.Although ��
<br /> Lender may take action under this paragraph 7.Lender does not have to do so. , �
<br /> A�y smounts disbursed by l,ender under this paragraph 7 shall become additional dtbt of Borrower secured by this t„
<br /> Secunty lnstrument.Unless Borrowet and Lender agree to vther lerms of payment,these amounts shall bear interest from �
<br />. the date of disbursement at the Note rate und shall be payalbfe. with �aterest, upon notice from Lender to �orrower
<br /> requesting p�yment.
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