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<br /> 89-� 106919
<br /> UNIFO�M Co��ENAVTS Barrawer�nd Le»der covenant and agrec as follows:
<br /> � 1. P�y�aent of Princip� and lntere�t;Prcpaya�GUt aad I.ate A��ges. Barrower shall promptly pay when due
<br /> thc principal af and interrst on Ihe debt evidenced by the Note and any prepayment and late charges due under the Nate.
<br /> 2. Fued�tor Taxa�od Insurance. Subject to applicable law ar to a written waiver by Lender,Bor�uwer shall pay
<br /> ta Lender on the day monthiy payments are due under the Note, until the Note ic paid in full,a sum f"Funds"?equ�+l to
<br /> one-twelfth of: (a�yearly taxes and assessment§ which may attain priority over this Security lns�rument; (b) yearly
<br /> leasehold payments or ground rents on the Propeny. if any; (c) yearly hazard insurancc premiums; and (d) yearly
<br /> mortgage insurance premiums,if any.These items are called'•escrow items."Lender may estimate the Funds due on the
<br /> basis of cwrent data and reasonable estimates oP future escrow items.
<br /> The Funds shall be held in an institution the deposits or accounts af which are insured or guaranteed by a federal or
<br /> sute agency(including Lender iF Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br /> Lender msy not charge for holding and applying the Funds,analyzing the account or verifjring the escrow items,unless
<br /> Lender pays 13orrower interest on the Funds and applicable law permits Lendcr 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 tnade or 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 /> aha1)give to Borrowtr,without charge.an annual accaunting of the Funds showing credits and debits to the Funds and the
<br /> purpose for which each debit to the Funds was made.The Fu�ds are pledged as additional security Por the sums secured by
<br /> this Socurity lnstrument.
<br /> If the amount of the Funds held by Lender.together with the future monthly payments of Funds payable prior to
<br /> the due dates of the escrow items.shall eaceed the amount roquired to pay the escrow items when due,ehe eacess shall be,
<br /> at Borrower's option,either promptly repaid to Horrower or credited to 8orrower on monthly payments of Funds. If the
<br /> �mount of the Funds held by Lender is not sufficient to pay the escrow items when due,Borrower shall pay to Lender any
<br /> unount necaisary to make up thc deflciency in one or more payments as required by Lender.
<br /> Upon psyment in full of all sums secured by this Security Instrument.Lender shall promptly refund to Horrower
<br /> any Funds held by Lender.If under paragraph 19 the Property is sold or acquired by I.ender.Lender shall apply,no later
<br /> than imraediately priar to the sale of the Property or its acquisition by Lender,any Funds held by Lender at the time of
<br /> applicstion as a crcdit against the sums secured by this Security lnstrument.
<br /> 3. Appllptloe o!Pay7nenb. Unless applicable law provides otherwise, all payments received by Lender under
<br /> Faragraphs 1 and 2 shall be applied:first,to late charges due under the Note;second,to prepayment charges due undsr the �
<br /> Not�third,to amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4• G�arg�Irlent. Horrower shall pay all taxes,assessments.charges,fines and impositions attributable ta the
<br /> Property which may attain priority,over this Serurity Instrument. and leasehold payments or ground rents. if any. �
<br /> Borro�var shall pay these obligaaona in the m�nner provided in paragraph 2,or if not paid in that manner,Bosrower shall ; -._
<br /> ¢iy them on time�li.,rrTt���,�.��„�;;��,,..�„��m�=,���,��yr�S N,-vr,-,Niiy iaini�n io unaer aii 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 paymrnts. �
<br /> BorroMer sh�ll promptly dixharge any lien which has priority over this Security lnstrument unless Borrower:(a) --
<br /> agras in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in goad `_
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<br /> fiith the iien by,or defrnds against enforcement of the lien in,legal proaedings ahich in the Lender's opinion operate to � :��
<br /> prtvent the rnforcement of the lien or forfeiture of any part of the Property;or(c)sec�res from the holder of the lien an ` -�
<br /> agrament sstisfactory to Lender subordinating the lien to this Secwity Instrument.If Lender determines that�ny part of ��
<br /> the Property is subject to a lien which may attain priority ovcr this Security Instrnment, Lender may give Botrower a
<br /> notia idrnrifying the lien.Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br /> of the giving of notiee.
<br /> s• Huud Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property {
<br /> insured aaainsj luss by fire,harards inclnded within the term"eatended coverage"and any other hazards for which Lender =
<br /> requires insuruice. This insurance shall be maintained in the amounu and for the periods that Lender requires. The ��`
<br /> �nsurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which sAall not be
<br /> unreaaonably witbheld. �
<br /> All insurance policiac and renewals shall be acceptable to Lender and shall include a standard mortgage clause. �� �
<br /> Lender shall h�ve the right to hold the policies and renewals.If I.cnder requires,Borrower shall promptly give to Lender �
<br /> all receipts of paid prcmiums and renewal notices. In the event of loss,Borrower shall give prompt notice to the insurance �
<br /> curier and I,ender.Lender may make proof of loss if not made promptly by Bonower.
<br /> Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair
<br /> of the Property damaged.if the restor�tion or repair is economicaUy feasible and Lender's socurity is not lessenod. lf the
<br /> ratoation or repair is not economically feasible or I.endet's security would be ltssened,the insurance proceeds shall be
<br /> appliad to the sums secured by this Security Instrument. whether or not then due.with any excess paid to Borrower. 1f
<br /> Bormwer abandons the Property,or does not answu wiihire 30 days a notece€ram Lerc�ier that the insurance carrier has
<br /> o�'ered to settle a claim.then Lender may collxt the insurance proceeds.Lender may use the proceeds to repair or restore
<br /> the Property or ta pay sums secured by this Socurity Instrument,whether or not thon due.The 30-day period will begin
<br /> ahrn the notia is given.
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceods to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> under pusgraph 19 the Property is acquired by Lender,Horrower'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�ecured by this Socarity
<br /> Instrumrnt immediately prior to the acquisition. ' - -
<br /> 6. Prqertation and Mdntenance o!Prope�;I,qseholds. Borrower shal!not destroy,damage or substantially
<br /> shange the Property,allow the Property to deteriorate or commit waste. lf this Security ]nstrument is on a leasehold,
<br /> Borrower shall comply with the provisions of the lease.and if Borrower acquires fee title to the Property.the leasehnld and
<br /> fa title shsll not merge unless Lender agrees to the merger in writing. ;
<br /> 7. Pratectior of Lender's Rights in the Property; Mortgage Inaurance. If Horrower fails to perform the
<br /> eovenants and agre�mrnts contained in this Security Instrument.or there�s a legal proceeding that may significantly affect �
<br /> L Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnat�on or to enforce laws or �t�
<br /> reautations),then Lender may do and pay for whatever is necessary to protect the value of the Propeny and Lender's nghts
<br /> in th� Propeny. Lender's acuons may �ncfude paymg any sums secured by a lien wh�ch has pr�onty over th�s Secunty ��`-
<br /> Instrument,appearing in cburt,paying reasanablt attnrneys'fees and entering on thr Property t<�make repain Alt�ough �
<br /> l.ender rnay takt action uncler th�s paragraph 7,Lender does nut have to do so , �.�
<br /> Any amounts d�sbursed by I.endcr under th�s paragreph 7 shal)became add�tianal debt i�f Barrc�wer srcured by this ,. '
<br /> Secur��y Instrument tlnless B�rrowcrand I.ender agree to other terms of paymcnt.these am��un���hall hear ���teretit frc�m
<br /> the date r�f disburtiemmt ai the N�+le r.ite arid shall tx pay�ble. w�th interc4t, upc�n n��licr fn�m 1 ender �n Hs�rr��wcr
<br /> rWursting payrneni
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