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<br /> � � �^ � UNIFORM COVENANTB. 6otrawer and Lendar coventnt and ayree ae foilowa: -'-' -"` ��� -----
<br /> � 1. P�ym�nt of Prinaipal and lnter�at;P��prym��rt snd L�t�Chtrpo�. BoROwer ehalt prompty pay when due the
<br /> pdnoip�l of end Intereat on the debt evldenaed by the Note and�ny prop�yment and Iats ehugea dui under the Nota.
<br /> 2. Funds tor Tiuc�s#nd insuranc�. 8ubJeet to�pptlabte I�w or co�vrrltten watvar by Lender,Baaowe�eha,t pay w Lender on c _
<br /> ,;:,� -„ " �� the day monthly paymente aro due ueder the Note.wttl the Note la paid In fuq,a sum('Funda•)tor.(�) yetrly►taxes�nd asaeasments whioh --
<br /> • - •� • " c tcasohold e enM or round renta on the Property.
<br /> :l. ........, may atuln pdodty over thle Secudty fnetrument ca a pcn an tho PrapertY:(�)Y�Y P Ym 9
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<br /> ��'_�ter�c�'''��� . Aood Ineuance remtume,if nny: e e mortpafle Ineunnae pramiume, ----
<br /> . � ��^_. ,..,...•-�,�; B amr, (c)YesdY hazard or ProPertY Inourance premlums:(�Y�N P ()Y�Y
<br /> u ° tf any;and {n any auma paysbte by Bortower to Lender,In accordance u�ith tha proviatons at parepraph 8,In Ileu ot the paymm►t o}monaape ��
<br /> .' �. � Insuranoe premfuma. Theae ftoms are alled 'Eecrow Items`. Lender may,et any time,col�eot and hoid Funda In en amount not to exeeed �_y___
<br /> ��14,;, •°� the inaximum e�mount a lender for e tederaNy reiated mortgdge Ioan may raquire tor BoROwers esaow eccount under the tedarat Reat :•,.���„-,___
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<br /> � Esttte 8ettlement P►ocedures Aat of 1874 as amendad trom tlme to Ume,12 U.S.O.�2801 et seq.("RESPA'�.un�ess another Inw that appllea to ;.�;u�' _
<br /> • �' � �' the Funda sete a tesaer amoup� It so,Lender mny,ct any time, colleat and hotd Funda tn an amount not to exceed the lesaer amount. Lender ,�,r:=
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<br /> _, . � may esUmete the amount o4 Funda due on the basb ot curtent data and reasonabie esdmatea ot axpendiNres ot future Escrow Items or otherwlee r , ,�_,,..__.
<br /> ' ' •� in accordanae wfth appllcabia taw. � ���_-:
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<br /> / The funds shatl be heid In an institution whose depoafts are Insured by a federai agency,instrumentaYly, or entity(including Lender N Lender _.
<br /> is such an InsUtuUon)or in eny Federai Home loan 8ank. i.endor ehatl appry tbe Funds to pay the Eacrow Items. lender may not chnrge •�•�'��:=,�„�,�,a,
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<br /> � �� � Borrowar tor hold(ng and appying the Funds, annuelyr enalysing the esaow acaount or ve�(tytng the Eeerow Items,un�eas Lender pay3 BoROwer „ _ _
<br /> interest on the Funda and applicable Iaw permks Lender to make auch a aharge. However,Lender may ►equire BoRCwer to pay s one�tlme aharge , ' _
<br /> _______-_______�. tnr an Independent reai eatate tex reporting service used by Lender in aonnecllon wfth thia loan,unlosa applieable lew provides othervvise. Untesa ______---_ __ --
<br /> �i sn agreemeet Is made or applicable taw requlrea Interest to be patd,Lender shail not be�equlred to pay 8orrower any interest or eamings on the ,
<br /> " Funda. BoROwer and Lender may agree in writing.however, that interest she11 be paid on the Funds. Lender shalt gNe to Borrower,without
<br /> •• charge,an annual accountlng ot the Funda show�ng credits and debfts to the Funds and the purpose for which each debft to the Funds � 'i-�,:
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<br /> � � .�, waa made. The Funds are pledged as addiUonat aecurity for eY sums oecured by this 8ecurfly Inatrument, -• �� �
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<br /> '��; ,;i; It the Funds held by Lender exaeed the amounts permltted to be heid by appicabie Isw,Lender ahall aoaount to Borrower for tho excesa �. ��_
<br /> � ����` Funds in aocordartce with the requirements of appibeble law. If the amount ot the Funde held by Lender at any time is nat cuHicient to pay the �T;��__
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<br /> " •'���`•, Escrow Iteme when due,Lender may so notiy Bortower In wdting,and,In suoh case Borrawer shatl pay to Lender the amount necessary to make . �
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<br /> up the defldency. Borrower shall meke up the defldeney in no more than tweive monthty peyments,et Lender's sole dlscreUon. ��!
<br /> Upon payment In fuli of all suma secured by thie 3ecurlty Inatrument,Lender shall promptiy retund to BoROwer any Funda held by Lender. If �';�"�-
<br /> _ _ _____,_',,11__ • under paragreph 21,Lender ehail aaqulre or sell the Prope►ty,Lender, pdor to the acquisftion or saie of the Property,shail apply any Funds hetd ��ri��
<br /> � �� by Lendcr at the time of acquls111on or sale as a aredii nynirist the surrs sswrad by lhis 9ecusity lnatnement.
<br /> • 3.Applieatlon at Paymente. Uniess appNcable Iaw provides otheiwise,ell payments receNed by Lender under parag►aphs 1 and 2 -`
<br /> �� sheli be epplied; flret,to any prepayment chargea due under the Note; secand,to amounis payabie under paregraph 2; thlyd,to interest due;
<br /> � fourth,to prtndpai due; and last,to any tate oharges due under the Note. , ,,;�- ,
<br /> • 4. Chargea; Lle11s. Bortower shal�pay a1 taxes,aseesementa,aharges,flnes and Impositions adrlbutebte to the Property whloh may . � • ., ;,
<br /> � • � aiteln prior{ty avar ihls Secucity inetrument,and leasehold paymertts or e�mund rpntn, If any. Bortower shep pay these obligations in the manner • 'y,,'•r�
<br /> provided In paregraph 2,o�If not paid in that menner. Borrower sheli pay them on dme directly to the peraon owed payment. Bortower shall
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<br /> � prompUy tumish to Lender all notices of amounta to be peld under this peragraph. It BoROwer makes these payments dlreotiy,BoROwer `�d
<br /> shali promptly tumish to L�nder recelpta evidencing the payments. I ;���"� ',;;
<br /> Bortower shell promptty discharge any Ilen which has prfodly over thls Seeurity Instrument uniesa Borrower. (a)a9rees in writing to the pay- � �
<br /> �� ment ot the obllgaGon secured by the Iien In a menner acceptabie to Lender;(b)contests in good faith the�len by.w defends against eniorcement
<br /> ' . ot the ilen in,Iegai proceedings which In the Lender'e opinlon operate to prevent ihe eniorcement ot the pen: ar(n) secures hom the hotder of the r - ��.�1f�
<br /> j Aen an agreement saUofaetory to Lender aubordinaWg the Ilen to thls Security Inotrument. II Lender detem�ines that any paR ot the Property is j ,;,��
<br /> subjeot to a Uen whlch may ettain prlotity over thia Securily Instr�ment, Lender may give Borrower e notiee identitying the Ilen. Borrower ahall � �>i' ,
<br /> eaUsiy lhe Ifen or take one or more ot the actions set torth above within 10 deys of the giving ot notbe. !
<br /> � 5. Hazard or Property Insuranee. Borrewer sheN keep the improvementa now exlating or herea8er erected on the Properiy innurexi � •
<br /> ageinst bss by iire,hezards included within the term "extended coverage' and any other hazarde, ineluding flaods or flooding,tor which Lender I
<br /> requires Insurence. This tnsurance shaU be mahtalned In the amounte end ior the periods thet Lender requires. 7he insutance carrier provlding i
<br /> the insurance shali be chosen by Borrower subJect to Lender's approval which shali not be unreasonably withheld. It Bonower talls to maintaln � .
<br /> coverege deacribed above, Lender may, at Lender's optlon, obtain coverage to protect Lender's dghts in the Property in accordence with . •
<br /> peragreph 7. :.
<br /> . All insurance policlea and renewais shall be ecceptable to ihe Lender and shell include a slandard mortgage ciause, Lender shall have the �
<br /> rtght to hotd the poilciea and renewals. If lender requlres. Borrower shell prompUy give to Lender all rescelpts oi pald premlums and renewai �
<br /> noticea. In the event ot ioss, Borrowar shail gNe prompt notice to lhe Insurence cartler and Lender. Lender may make proof oi�oss M not mede
<br /> � promply by Bor►ower.
<br /> `' Uniess Lender and Bortower othervvise agree In w�iting, insurance proceeds shali be appiled to restoratlon or repair of the Property damaged,H .
<br /> the restoration or repair Is economiceNy teasible and Lender's security is not lessened. If the restorallon or repair Is not ecunomlcalry teasible
<br /> � ' or Lender's secuHty would be lessened, the inaurance proceeds shell be applied to the sums secured by lhis Securiry Instrument,whether or not
<br /> then due, with any excesa peid lo Borcower. If Borcower abendona the Property.or does not answer wNhin 30 days a notice irom lender that the
<br /> � � insurance carrler has aNered to settle e claim,ihen Lender may coNect the insurance proceeds. Lender may use the proceeds to repelr ar restore
<br /> ' the Property or to pey sums secured by this Securily Instrument,whether or not then due. The 30•day period wlll beqin when the notlee Is given.
<br /> Unless lender and Borrower othenvise agree in w�iting, any applicatlon ol prxeeds to princlpai shall not extend or postpone the due date
<br /> � � oi the monthiy payments�eferced to in paragraph 1 and 2 or change the amount of the payments. It under paragraph 21 the Property is
<br /> acqulred by Lender,Bortower's►Ight to any Insurance pollciea and proceeds resulting from damage to the Property prlor to the acquisition
<br /> -- . � ... . . .. _ . ...__._.�__..��� ..�ue e....�e conval hv thla SacuHtv Insirument UItt118d1fl1@lY p�i0�t0 thB 6CQUISRIOn.
<br /> --. �. . . . snHit PBSS W lCI1Vat tv u�o onwn. v.............-----•---• ' - -
<br /> ; 6. Occupancy�Preservation, Maintenance and Prdtection of the Property; Borrower's Loan Apptication;
<br /> ; Leaseholda. BoROwer ahell occupy. establish,end use the Property as Bortower's prinelpal residence wllhin slxty days eRer the executlon of
<br /> thls Secu�ity Inatrument and ahuN eontlnue to occupy the Property es Borrower's p�inclpei resldence for et teeat one year after the dato of
<br /> ' ' occupanay, untesa Lender otherwlse agrees in wrilhg, which eonsent shali not be unreasonab�y withheld,or uniess extenuating circumstances exist
<br /> �;' whiah are beyond BoROwers contrd. 8orrower shali not destroy,damege or Impnir the Property. aAOw Ihe Property to detehomte. or commit
<br /> ? ; waste on the Property. Bortower shflli be in detadt it eny torfelture aclbn or prxeeding,whather cfvli or c�tminal,is begun that In Lender's good
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<br /> JO$Bt.1rm(3l91) P�gc 2 0�S FOmt 302B 8/90
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