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<br /> 89--�1�6g41
<br /> U:vIFOKt��Co�'ENANTS Borr�wer and Lender covenunt and agree u�f��llo«ti:
<br /> 1. PAyment of g�incips�l and Interest;P�epayment and i.�te Charges, Borr����er shall promptly pay���hen dur
<br /> the rrinciral�f and interest on the debt evidenced by the Note and any prepayment and lAte charges due under the Note.
<br /> 2, i�uads fnr Taxes And Insurance. Subject to applicabte lu�v or ta a«'rit[en�ti�aive�by Lrndcr,Barro�z cr shal!pAy
<br /> ta Lcnder on the day monthly payments are due under the Nate,until the Note is paid in full,a sum("Funds")equal ta �
<br /> onc•twelfth of: (a) yearly taxes and a�sessments «hieh may attain priority o��er this Security Instrument; (b) ycA�ly
<br /> leaschold payments or graund rents on the Property. if any; (c) yearly hazard insura�ce premiums: and (d) yearly
<br /> mortgage insurance premiums,if any. These items are called"escro�v items."Lender may estimate the Funds due on the
<br /> basis of current data and reasanable estimates of fLture escrow items.
<br /> The Funds shall be held in an institution the deposits or accuunts of which are insured or guaranteed by a federal or
<br /> state agency(including Lender if Lender is such an institution). Lender shall apply the Funds ta pay the escrow items.
<br /> Lender may not charge for holding and applying the Funds,analyzing the account or verify ing the escrow ilems.unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br /> Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> requires interest ta 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 ta the Furids and the
<br /> purpose for which exch debit ta the Funds was made.The Funds are pledge�l as additional security for the sums secured by
<br /> this Security Instrument.
<br /> If the amount of the Funds hetd by Lender.together with the future monthly payments of Funds payable prior to
<br /> the due dates of the escrow items,sha➢1 exceed the amount required to pay the escraw items when due,the exces.a shall be,
<br /> at Borrower's option,either promptly repaid to Bonower or credited to Borrower on monthly payments of Funds.lf the
<br /> s�muuni uP iiic i uu�s 1i�id hy Lcn3�r is noi s�:tReien!so p�y thP P��mw items when due.Borrower sha11 pay to Lender any
<br /> amount necessary to make up the deflciency in one or more payments as required by Lender.
<br /> ' Upon payment in full of all sums secured by this Security lnstrument,Lender shall promptly refund to Horrower
<br /> any Funds held by Lender. lf under paragraph 19 the Property is sold or acquired by Lender,Lender shall apply,no later
<br /> than immediately prior to the sale of'the Propeety 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. ApplicaHon ot Payments. Unless applicable law p*ovides otherwise,all payments received by Lender under
<br /> paragraphs 1 and 2 shall be applied:flrst,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 /> 4. Charges;Liens. aarrower shall pay all taxes, assessments.charges,fines and impositions attribntable to the
<br /> Property which may attain priority.over this Security Instrument, and leasehold payments or ground rents, if any.
<br /> Borrower shal)pay these obligations in the manner provided iz paragraph 2,or if not paid in that manner,Borrower shall
<br /> puy them on time directly to the person owed payment.Borrower shall promptly furnish to Ixnder 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 e�idencing the payments.
<br /> isonowcr sha;Z N;a,��Nt1�3�sc:�arge:.:.,:ier.�»�hich h.a�grierity�ver thic Security Instrument unless Borrower:(a) __
<br /> �agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lcnd�r;(b?contests in good , -
<br /> faith the lien by.or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion aperate 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 /> agreement satisfactory to Lcndcr subardinating 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 ]nstrument, I.ender may give Bonower a
<br /> notice identifying the lien.Borrower shall satisfy the lien or take ane or mare of the actions set forth above within ]0 days _
<br /> of the giving of notice.
<br /> 5. Hazard Insurance. 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 ather hazards for which Lender ��
<br /> , requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br /> insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be ,
<br /> unreasonably 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. If Lender requires,Horrower shall promptly give to Lender �_
<br /> all roceipts of paid premiums and renewal notices.In the event of loss.Borrower 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 proceeds shall be applied to restoration or repair
<br /> �f 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 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 does not answer within 30 days a notice from Lender that the insurance carrier has
<br /> offered to settle a claim.then Lender may collect the insurance proceeds.Lender may use the ptoceeds 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 wi11 be8in
<br /> whcn the notice is given. —
<br /> Unless Lender and Borrower othenvise agree in writing,any application of proceeds to principal shall aot extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount af the payments.If
<br /> under paragraph 19 the Property is acquired by Lender,Borrower'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 Security
<br /> Instrument immediately prior to the acquisition.
<br /> 6. Preservation and Maintenance of Property;Leaseholds. Borrower shall not destroy,damage or substantially
<br /> change the Property, allow the Property to deteriorate or commit waste. ]f this Security Instrument is on a leasehold,
<br /> Borrower shaU comply weth the provisions of'the lestse,and if Borrower acquires fee title to the Property.the teasehold and ;--.--_:_-.
<br /> fee title shall not merge unless Lender agrees to the merger in writing.
<br /> 7, ProteMion of I.ender's Rights in the Property; MortgaRc Insurance. If Borrower fails to perform the
<br /> , covenants and agreements contained in this Security Instrument,or there is a legal proceeding that may significantly affect
<br /> l.ender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or ,
<br /> regulations),then Lender may do and pay for whatever is necessary to protect the value vf the Property and Lender's rights '
<br /> in the Property.Lender's actions may �nclude paying any sums secuted by a lien which has pnnrity c�ver this Security �
<br /> L Instrument.appearing in courL paying reasonable attorneys'fees and entering on the Prc�perry to make rcpairti. Although
<br /> Lender may take action under this paragraph 7.Lender docs not havr to do so. ��
<br /> Any amounts di�bursed by Lender under this paragraph 7 shall hecnme addiUonal deht�f Hc�rrower serured by thiti
<br /> Secunty lnstrument.Unles�I�otrower and Lendrr agree to c�ther term��f pay�ment,ihe�c amuunt�tihall bear intere�t fn�rry �`-
<br /> the date of d�sbunement at the Picite �ate and chaii be rayabir. «�th intrretit, up��n nc�tice fr��m l.etider ti� Hnrrraer . �
<br /> requE�t�ng payment � �
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