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<br /> �,a-.�06713
<br /> �NiFORM COV�NA'VTS Dormwer and Lender cavenant and agree as fnlla«�s �
<br /> 1, Payment of PrincipAl w�d lut�erest;Yrepayment and Lat�Chs�rges. Horrowrr shaH �+romptly pay when due
<br /> the principal af and interest on ihe debt evidenced hy the Note und any prepayment nnd late chargcs due under the Nute.
<br /> 2. Fuads for Tax�s and lnsuranse. Subject to Applicable la�v or ta a���ritten wai�•er by Lender,f�orrower shf�ll pn�y
<br /> � ta Lcndcr on tl�c day monthly payments are due under the Note.until the Note is paid in Pull, �cum("Fu�ds")equal tn
<br /> one-twelftfi of: (a) ye�riy t�xc� and a�sessnients which may attain priarity avcr this Security Instrument; (b) yearly
<br /> teasehold payments or ground rents on the Proprrty, iP any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> mort�ts��o insurance premiums,if any.These items are called"escrow items." �ender may estimate the Funds due on the
<br /> basis of current data and reasanable estimates af future escrow items.
<br /> The Fuads shall be held in an institution the deposits or accounts of which are insured or guurunteed by u Pederal 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 not charge for holding and applying the Funds�analyzing the account ar verifying the escrow items.unless
<br /> Lendar p�ys Barrower interest on tho Funds and applicable!aw permits Lender to make such a charge. Borrower and
<br /> l.ender may agrce in writiag that interest shall be paid on the Funds. Unless an agreement is made ar applicable law
<br /> requires interest to be paid,Lender shall not be required to pay Borrower any interest or earnings on the Funds.Lender
<br /> shall give to Borrower,without eharge,an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> purpose for which each debit to the Funds wus made.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 Lender�together with the future monthly payments of Funds payable prior ta
<br /> the due dates of the escrow items,shall exceed the amount required to pay the escraw items when due,the e�cess shall be,
<br /> at Borrower's optian,either promptly repaid tu Horrower or credited to Bottower on monthly payments of Funds. If the
<br /> amount of the Funds held by Lender is not sufRcient to pap the escrow items when due,Borrower si�all pap to Ixnder any
<br /> amount necessary to make up the deficiency in one or more payments as required by Lender.
<br /> Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Borrower
<br /> any Funds held by I.ender.If under paragraph 19 the Propeny is sold or acquired by Lender,Lender shall apply,no later
<br /> than immediately prior ta 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 Instcument.
<br /> 3. Applic�tion o!Payments. Unless applicable law p*ovides otherwise,all payments received by I.ender under
<br /> paragraphs 1 and 2 shall be applied:first.to late charges due nnder the Note;second,to prepayment charges due under the
<br /> Note;third,to amounts payable under paragraph 2;fanrth,ta interest due;and last,to principal due.
<br /> 4. Charges;Ltens. Bonower shall pay all taxes,assessments,charges,flnes and impositions attributable to the
<br /> Property which may attain priority.over this Security lnstrument, and leasehold payments or ground rents, if any.
<br /> Bonower shall paX 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.8orrower shall promptly furnish to Lender all notices of amounts �
<br /> to be paid under this paragraph. If Borrower makes these payments directly.Borrower shall promptly furnish to Lender
<br /> receipts evidencing the payments. ' ;
<br /> Borrower shall promptly discharge any lien which has priority over this Security Insirument unless Borrower:(a) � ;;;
<br /> agras in writing to the payment of the obligation secured by the Iien in a manner acceptable to iender;(bj contests in good � -.=-.
<br /> faith the lien by,or defends against enforcement of the lien in,legat 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 � _
<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 tniay attain priority over this Security Instrument, Lender may give Borrower a
<br /> natioe identifying the lien.Borrower sha1)satisfy the lien or take one or more of'the actions set forth abave within 10 days �
<br /> f ..
<br /> of the giving of notice. —
<br /> S. H�rd Iaturance. Borrower shall keep the improvements 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 I,ender
<br /> requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br /> insurana carrier providing the insurance shall be cZ�osen by Bonowet subject to Lender s approval which shall not be �
<br /> unrcasonably withheld.
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. � ;
<br /> Lender shall have the right to hold the policies and renewals.lf Lender requires,Borrower shall promptZy give to Lender ,
<br /> all receipts of paid premiums and renewal notices.In the event of loss,Bonower 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 prceeeds shall be applied to restoration or repair ��;�::
<br /> of the Property damaged.if the restoration or 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 wonld be lessened,the insurance proceeds shall be �
<br /> applied to the sums secured by this Security lnstrument,whether or not then due,with any excess paid to Bonower. If . _
<br /> Borrower abandons the Ptoperty,or dces not answer within 30 days a notice from Lender that the insurance car�ier has
<br /> offered to settle a claim,then Lender may coilect the insurance proceeds. Lender may use the proceeds to repair os restore
<br /> tho Property or to pay sums secured by this Security Instrument,whether or not then due.The 30-day period will begin
<br /> wren the ttotice is given.
<br /> . ' Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principa!shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amouni of the payments. lf
<br /> under paragraph 19 the Properiy is acquired by L.ender,Horrower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the acquisition sliall pass to Lender to the extent of the sums secured by this Security
<br /> . Instrument immediately prior to the acquisition.
<br /> 6. Preserration and Majntenance of Property;I.easefioids. Borrower shall not destroy,darrsage or substantially
<br /> ' change the Property,allow the Propeny to deteriorate or commit a�ast�. If this Security Instrument is on a leasehold.
<br /> Borrower shall comply with the provisions o1'the lease,and if Borrower acquires fee title to the Property,the leaseho2d and %-_ _—__-
<br /> fee title shall not mesge unless Lender agrees to the merger in writing. '
<br /> 7. Protection ot I.ender's Righis in the Property; Mortgage lnsurance. If Borrower faiEs to perform the ,
<br /> covenants and agreements contained in this Security Instrument,or there is a legal proceeding that may s�gnificanily affect ,
<br /> Lender's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation ar to enforce laws or i
<br /> regulations),then Lender may do and pay for whatever is necessary to protect the value of the Property and L.ender's rights
<br /> in the Property. Lender's actions may include paying any sums secured by a lien which has priority� over this Security Y
<br /> � Instrument,appear�ng in coutt.paying reasonable attorney,c'fees and entering on the Property to make repairs. Although
<br /> Lender may take action under this paragraph 7,Lender does not have to do co.
<br /> Any amounts disbursed by Lender under this patagraph 7 shal)become add�tiemal debt uf Bc�rmwer secured by this �
<br />_ Security Insirument.Unless Horrower and Lender agree to ofher tcrms of payment.thcae am��t�nis sha{I bear interest from �
<br /> the date uf ditbursrment at ihe Note rate :�nc1 shall he pay�ahle. with interetit. up�m notice frc�m Lender ti+ Borrower tA
<br /> requestmg payment �'
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