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<br /> UNIFORh1 CUYFNANTS Ranawcr and Lender cavenant and agree as follow�: ��� '
<br /> ; 1. P�yment ot!*rinclpal ted Ietere:t; Prep�ymee!nnd Late Chstrges. Borrawcr shall pramptly pay a�hen duc
<br /> the principal oPand interest on the debt evidenced by the Nate and Any prepayment and late charges due unde�the Note.
<br /> 3. Furtds for Tax�and Insarar.rr. Subjec:t to�applicablc law or to a wntten��•a��er by Lende�.Barrowzr shall puy
<br /> � !�'!..-.r.d.:on thc dsy monshly Fay:sients are dua undc:thc 1�'atc, nniil thc Noic is paid in fu!!,a�um('•Funds")��ua!tcs
<br /> arte-twclRh of: (a) yearly tax�s a«d assessments whi�h may attain priority over this Security Insttumrnt; (h) yeariy
<br /> teusehald payments or ground reats an the ProE+erty, if any; (c) yrarly 13azard insurance premiums; und (d) ycarly
<br /> , mortgage insurance promiums.if�ny.These items are called"escrow items." Lender may estimate the Funds due an the
<br /> buis ofcurrent data and rnisonable atimates of future eserow items.
<br /> , The Fundc shall be held io an institution Ihe depasiss or nccuunts�f which are insured ur guaranteed by a federal or
<br /> state agency (including Lender if Lender is such an institutian). Lender shall apply the Funds ta pay the escrow items.
<br /> I.ender may not charge for holding and applying the Funds,analyzing the account or verifying ihe escrow items, unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits Lender ta make such a charge Borroa+er and
<br /> Lender may agree in writing that interest shall be paid on the Funds. Untess an agreement is made or applicable law
<br /> requires interest to be paid,Lender shall not be requi�ed to pay Borrower any interest or earnings on the Funds. Lender
<br /> sh�ll give to Bonower.without charge,an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> purpose far which each debit to the Funds was 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 futute monthly payments of Funds payable prior to ,
<br /> the due dates ot'the escrow items,shall eaceed the amount required to pay the escrow items when due,the excess shall be,
<br /> at Bonower's option,either promptly repaid to Hanower or credited to Bc�naL�ver on manthly payments of Funds.If the
<br /> smount of'the Fundc hrltl hy l.�nd�r ic r��t c�ifTici�nt t�i ay the escmiy�•e•ns�•,SIpP�Lpf Bfl•T�,,..z s!:��!F�;:o�:a3�r any
<br /> amount necessary to make up the deficiency in one or more payments as required by Len@er.
<br /> Upon payment in full of all sums secured by this Security lnstrument.Lender shaDl promptly rePund to Borrower
<br /> any Funds hetd by Lender.If under paragraph 19 the Property is sold or acquired by Lender.Lender shall apply,no later
<br /> . than immodiately prior to the sale af the Propeny or its acquisition by Lender.any Funds held by Lender at the time of
<br /> application as a credit against the sums cecured by this Security lnstrument.
<br /> 3. Application ot Paymeets. Unless applicable law provides otherwise,all gayments received by Lender under
<br /> paragraphs 1 and 2 shaq be applied:first,to late charges due under the Note;second,t�prepayment charges due under the
<br /> Note;third,to amounis payable under paragraph 2;fourth, to interest due;and last.to principal due.
<br /> 4. Chuges;Liens. Bonower shall pay all taxes, assessments,charges,fines and impositions attributable to the
<br /> Property whi�h may attain priority over this Security lnstrument. and leasehold payments or ground rents, if any. � �
<br /> Bonower shall pay these obligations in the manner provided in paragraph 2.or if not paid in that manner.Horrower shall � �
<br /> pay them on time directly to the person owed payment. Bonov�•er 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 /> recetpts evidencing the payments.
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<br /> Borrower shall promptly discharge any lien which has priority o��er this Security Instrument unless Borrower:(a) ��-
<br /> - - a�.�.;�i��r�i;�g ta��c y,ny��ier�i uf incvoligaiivn securcci by the lien in a manner acceptaoie to[.ender;(b)contests in goad f -�
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<br /> faith the lien by,or defends against enforament of ihe lien in, legal 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 /> agrcement satisPactory to Lender subordinating the lien to this Security Instrument.If Lender determrnes that any part of � -_
<br /> the Propeny is subject to a lien which may attain prioriry over this Security lnstrument, Lender may give Bonower a �'_
<br /> notice identifying the lien.Honower shall satisfy the lien or take one or more of the actions set forth above within ]0 days
<br /> ; of the giving of notice.
<br /> S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insurod against loss by fire,hazards included within the term"eatended coverage"and any other hazards for which Lender
<br /> requires insurance. This insurance shall be maintained in the amounts and for the periods that I.ender 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 /> � Alb insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br /> Lender shall have the right to hoid the policies and renewals.If Lender requires,8orrower shall promptly give to L.ender '
<br /> ' all receipts of paid premiums and renewal notices.In the event af 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. e
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<br /> Unless I,ender and Bonower otherwise agree in writing,insurance proceeds shall be applied to restoration or rep�ir '
<br /> of the Property damaged.if the resloration or repair is economically feasible and I.ender'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 �ot then due, with any eacess 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 Lendes may collect the insurance proceeds.Lender may use the proceeds to repair or restore
<br /> the Propetty or to pay sums secured by this Security Instrument,whether or not then due.The 30-day period will begin
<br /> when the notice is given.
<br /> lJstless Lendea a�d Borrawer oiheswise agsee in writing,any application uf pruceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of 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 /> lnstrumeni immediately prior to the acquisition.
<br /> 6. Preserration and Maintenance of PcoperYy;Le�seholds. Horsower shall not destroy,damage or substantially
<br /> change the Property, allow the Property to deteriorate or commit w-aste. If this Security lnstrument is on a leasehold. -__--�-___
<br /> Borrower shall zomply with the provisions of the lease,and af Barrower acquires fee titie to the Property.the leasehold and �
<br /> fee titleshall not merge unless Lender agrees tothemergerirt writing.
<br /> 7. Protection o! Lender's Riqhts in the Property: Nortgage Insurnnce. If Borrower fails to perform the
<br /> covenants and agreements eontained in Ihis Security Instrument,or there is a legal proceeding that may significantly affect
<br /> Lender's rights in the Property (such as a pro�eeding 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 of the Property and Lender'�rights �
<br /> in the Propeny. Lender'.s actions may include paying any sums secured by a lien which has prior�ty over th�s Security
<br /> � lnstrument,appe�anng in court.paying reasonable attorneys'fees and entering on the Praperly to make repa�rti. Although
<br /> Lender may take actian uncler this paragraph 7.Lender does not have to do so.
<br /> Any amounts disbursed by Lender under ihis paragraph 7 shall becom�addu�onal debt c�f H�rr��wrr�ccured b� �h�� �
<br /> Sec�nty Instrument. Unless Borrawer and Lender asree toc�ther lerms of�aymcnt,thesr am�untti tihall hcar interc�t Prnm �
<br /> the d•rte �f d��buncmrnt at the No¢e rate and shatl be payahle. w�1h u�tere>L upon nc�tirr fnnn Lrndrr t�� Ili�rr�xrcr , ,�,�
<br />; rc�ucstmg paymrnt �y .:
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