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<br /> � UNIFORM CQVENANTS. BonoweP and Lender covenant and agree a�follows; ��""� i p S g 8�
<br /> 1. Payment of Principal �nd I�te�est; P��p�ymsnt a�d Lat� Charqes. Borrower shell prompty pay when due the
<br /> prtnclpal 01 and inierest on ihe debt evidenaed �y the Note end any prepayment and late cherges dua under ihe Nole.
<br /> 2, F�nds #oi Taxes and Insur3nse. Subjec!to appttcabta taw or tn a wrttta-►w�Ner Gy LendCr, BoRnwer shall pay to Lendar
<br /> : r on ihe day monthy paymenta ue due under the Note, unUl tRe Note Is p�td In tuH, a sum('Funds') equal to onatwelth ot: {a)yearty
<br /> � taxes and esaessments which may�ttaln pdority over tht�Securily tnstrumenl; (ba yearty le�sahold payn�ents o�ground rents on the Prop-
<br /> erty,N any; (c)ye�ry haurd insu�ance prcmlums; and (d)yeady mort�pe insunnce prert�fums,e�ny. These Rans u�caAed 'escrow
<br /> tlems'. Lender may�esUmata the Funds dua or tAa bas1� oi curteni d�ta And ra�sonabta a3tknata�af tutura escraw ftams.
<br /> The Funds aiu�N b�hetd tn�n ins�tuttcn iha deposita or accaunts af which an k�surod or yuaantead by a tedeal a atata aye�cy
<br /> (indudinp Lender H L�der Is aucA an Institution}. Lender shaN�ppy ths Funda to pay tM Kaow item�. Lander tnay not ehar�e tor hold-
<br /> Iny and appyinp th�Funds,anayziny th�account or verMyiny ths eacrow Rems, unl�s� Under pays 8arower Intenst oo ths Funda and
<br /> appNcaWa law pemats Lander to rtwike auch a chu�e. Bortower�nd Le�d�t m�y s�as in w�itM��tMt(ntereat sh�A b�pald on the Funda.
<br /> Unkss an ayrearnmt b made or applic�bk lew requkes interest to be p�W, Lender ahaN not bo requked to pay Borrawer any interest w
<br /> e�minps an th�Funds. Le�der shaN plve to 8arower, wllhout charpe,an�nnual�ccauntk��01 the Funda ahowinp creditm and debfta to
<br /> tha F�nds and ths purpose ta whkh each debit to the Funda waa mads. The Fund��ra pledyed as acicNtion�l aecurity Tor the aums ae-
<br /> cured by this Secwrity Irtatrummt.
<br /> N the amount of the Funda held by Lender�together with the tuture monthy payments of Funda pay�ie p�ia to the due datea ot the
<br /> escrow itema, ahap exceed the art�cu�t requked to pay tha escrow flema when due, the exceea shaN be, at 8ortower'a optic►�, either
<br /> promptry repaid to Barower or cred'Red to Bo►rower on monihy peyments of Funda. H the�mount of tAe Funds held by Lender is not
<br /> f� u�ln 1 tn o���I�s wnw�..:u w w�u1�� O N � • _ •. �.
<br /> � _._r.. _ F_, . . t!_m_ � d��. OTC:.'.. ��i.;..j1:y Z� ZC1 �T:tiy�.i�iJil��ii:.'vwwaiy w iiwno UM u�o uoi��ie�wy i�� w�a uti
<br /> more paymenta as rcqu'red by Lender.
<br /> Upon payrnmt in tuN of eM aums secured by 1hb Secu�Iry InatrumeM, Lender shall promptly�efund to Borrower�ny Funds held by
<br /> � Lender. li under parayraph i9 the Property Is sold or acquired by Leoder, Lender shall appy, oo later than knmedietety pdw to the sale
<br /> of the Property o�its acquisition by Lender, any Funds held by Lmder at the time of appllcation et�a credit agalnst the sums secured by
<br /> thls Security Instrument.
<br /> �. Apppeatlon of Paymenta. Unless applicabte 1ew provides otherwlse, all payments received by Lander under pareyrsphs 1
<br /> and 2 shall be�pplied: Mst,to late cherges due under the Note; second, to prepayment charge�due under the Note;thkd,to amounts
<br /> payable unde�paragraph 2;teurth,to interest due; and last.to pdncipal due.
<br /> 4. Cherge9; Liens. BoROwer shall pay all taxes, assessments, cfiarges,fines and impositions a:tributable to the Property whicA
<br /> may ariain pdority over this Securityr Instrument, and leasehold payments o�ground rents, i1 any. Borrower shaN pay these obligatlons in �� .�
<br /> the manner provlded in paragraph 2. or N not pald i�that manner, BoROwer shall pay them on time directly to the person owed payment
<br /> Borrower shaY prompUy tumish to the lender aD notices of amounts to be pald under this paragraph. I}Borrower makes these paymenta �rt`
<br /> directly, Borrower shaN prompty tumish to Lender receipts evldencing the payments. ► _-.'-��'
<br /> . .- . - : Bartower shall nrotnntly dlscharae any Ue�whir.h�ww nrinr�tv ny:Y ihle Cnr��rt;�••c!rss�teni�.s.�l�e Q•:.••aW`;. eej ag•°,�,.°�t r:r«»�zg•a
<br /> tha payment oi ihe obi'iyatlon secured by the Yen in a msnner acceptable to Lender, (b) cootasta in qood taith•the Gen by, or detends � -
<br /> j agalnst eoTorcement of the qen in, leyal proceedl�ps whlch in the Lender's opinlon operate to p�event the e�forcement of the uen or tor �-
<br /> . teiture o1 any paR oi the Property; or(c)aecures from the holder oi the lien an agreement satistactory to Lender suba�dlnating the Nen to
<br /> this Security tnsUUmen� H Lender detem�ine�that any part ot the PrapeRy is subJect to a Nen whkh may atfak�pdoriry over thla Secu�ity
<br /> Instrumen� Lender may ytve BoROwer a notice identitying the Nen. Borrowc�ahall saUsty the Aeo or take one or more of the actions set '•
<br /> forth above within 10 days of the giving of notice.
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<br /> 5. Haza�d Insu�ance. Bortower shall keep the Improvements�ow existing or hereafter efected oo the Property insured egalnst
<br /> loss by fire, hazards inctuded within the term 'extended coverage' and any other hazards for whlch Lender requkes insurance. Thls insur-
<br /> , ance shall be meintatned In the amount�and to�the periods that Lender requtres. The insurance cartier providing the fnsurance shaN be
<br /> ' ' chosen by 8orrower subject to Lender's approval ti.hich shaM not be unreasonably withheld.
<br /> ; Ap insurance pollctes and renewals shaU be acceptabla to the Lender and shall include a standard moRgaga clause. Lend�shal! have
<br /> • the�ight to hold the policies and renewals. It Lender requke�, Borrower shall promptly give to Lender�p receipts ot pald premiums and
<br /> ' renewal noUces. In the event ot loss, BoROwer shall give prompt notice to the insurance cartier and Lender. Lender may make proot o1 + .�` :
<br /> loss il not made promptty by Borrower.
<br /> Untess Lender and Borrower othervvise agree in writinfl, insurance proceeds shall be applied to restoration or repai�of the Prope►ty �: _
<br /> damaged, i1 the restoration or repair is economicaly teasible and Lender's securiry is not[essened. It the restoration or repair is not eco- �
<br /> nomlcaly teasible or Lender's security would be lessened,the insurance proceeds shall be appGed to the sums secured by this Security �
<br /> Instrument, whether or not then due, with any excess paid to Borrower. If BoROwer abandons the Property, or does not answer within 30 �-
<br /> days a noUce(rom Lender that the Ir►surance cartiec has oHered to setUe e ctaim, then lender may coHect the insurance proceeds. Le�der
<br /> may use the proceeds to repair or restore the Pro�erly or to pay sums secared by this Secudty InsUument,whether or not then due. The
<br /> 30-day period wiD begin when tha notice 1s glven.
<br /> tln;ess Lende►an9 Bortower otherwtse agree h wAting,any a�ptication ot proceeds ta princtpe! shaU no!e�dend er gasipons the das
<br /> • date oi tha monthty payments reterred to in para�raph 1 and 2 or change the emount ot the payments. If under paragraph 19 the Property
<br /> Is acquired by Lender.Borrower's �ight to any insurance pol'�clea and proceeds resulting irom damnge to the PropeAy prbr to ihe acquisl-
<br /> Gon shall pass to Lender to the extent of the sums secured by this Security Instrument Immediately prlor to the acqaisitton.
<br /> 6. Pres�rvation and Maintenance of Property; Leaseholds. BoROwer shall not destroy, damage or substantiatly change
<br /> the PropeAy�allow the Property to �eteriorate or commit waste. If this Security Instrument is on a leasehald, Borrower shall comply with
<br /> the provisions oi tha lease,and N Bonower acqulres tee title to the Property,the leashotd and fee tftle shall not merge untess the Lender
<br /> agrees to the merg�in writing. r'- --
<br /> 7. Protectton of Lends�'s Rlghts in the Property; Mortgage Insurance. Ii Borrower fails to peAortn the covenants
<br /> and agreements Contafned ln this Security Instntment,or there is a legal proceeding that may sign�canty aHect the Lender's rights ln the
<br /> Property(such ss a Froceedinp in banlwptcy, probate, for condemnation or to entorce�iws or regulations),then Lender may do and psy �
<br /> for whatever Is netessary to protect the value o1 the Property and Lender's rights in the Property. Lersder's acUons may include paytng any �
<br /> sums secured by s lien which has priority over thls Securiry Instrumenf, appeari�g in court, paying reasonable attomeys'tees and entering �
<br /> � on the Property to make repairs. Nthough Lender may take action under tl�is paragraph 7, Lender does not have to do so.
<br /> My amounts disbursed by Lender under this paregraph 7 shall become additionat debt a1 Borrower secured by this Security Instrument.
<br /> Unlcss 8onower and Lender agree to other terms of paynnent,these amounl9 shall bear intorest trom the date oi disDursement at the �
<br /> Nota rate and shall be payable,with Interest, upon nolice irom Lender to Bortower requesting payment. fp
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