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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Prtndpal alld Inleretl; Prepayment and Lite Cb....es, Borrower shall promptly pay when due the
<br />principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />Z. Fulld. for Tun .nd IllJal"lll(e. Subject to applicable law Or to a written waiver by Lender I Borrower shall pay to
<br />Lender on the day mopthly paymenls are due under the Note, until the Note is paid in full, a sum ("Funds") equal to one-
<br />twelfth of: (a) yearly taxes and llS.!iessments which may altain priority over this Security Instrument; (b) yearly leasehold
<br />p.yments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance
<br />premiums, if any, These items are called "escrow items," Lender may estimate the Funds due on the basis of current data
<br />and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits Or accounts of which are insured or guaranteed by a federal or
<br />slate agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender
<br />may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pays
<br />Borrower interest on the funds and applicable law permits lender to make such a charge, Borrower and lender may agree in
<br />writing that interest shall be paid on the Funds, Unless an agreement is made or applicable law requires interest to be paid,
<br />lender shall not be required to pay Borrower any interest or earnings on the Funds. lender shall give to Borrower, without
<br />charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to
<br />the Funds was' made. The Funds are pledged as additional security for the sums secured by this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the
<br />due dates of the escrow items, shall ellceed the amount required to pay the escrow items when due, the eXcess shall be, at
<br />Borrower's option, either promptly repaid to Borrower or credited on monthly payments of Funds. If the amount of the,
<br />Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any amount
<br />necessary to make up the deficiency in one or more payments as required bv Lender.
<br />Upon payment in full of all sums secured by this Security Instrument, lender shall promptly refund to Borrower any
<br />Funds held by Lender, If under paragraph 19 the Property is sold or acquired by lender. Lender shall apply, no later than
<br />immediately prior to the sale of the Property 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, AppUcaUon of, PaymclIls. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late chaTges 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 />... Cltai'aes; Utili. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument. and leasehold payments or ground rents, if any. Borrower
<br />shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on
<br />time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under
<br />this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the
<br />payments.
<br />Borrower shall promptly 4ischar8e any lien which has priority over this Security Instrument unless Borrower: (a) agrees
<br />in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; lb) contests in good faith
<br />the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent
<br />the enforcement of the lien of forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement
<br />satisfactory to Lender subordinating the lien to this Security Instrument, If Lender determines that any part of the Property is
<br />subject to a lien which may attain priority over this Security Instrument, lender may give Borrower a notice identifying the
<br />lieD. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice.
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<br />5. Huud IIIR....ce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />qainst loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires
<br />insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier
<br />providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld.
<br />AU,insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender
<br />sha\l have the right to hold the policies and renewals. If lender requires, Borrower shall promptly give to Lender all receipts
<br />of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance carrier and
<br />Lender. Lender may make proof of loss if not mEde promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or repair of
<br />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, th:: insurance proceeds shall be
<br />..,plicd to the sum 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 proceeds 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 will begin when
<br />the notice is liven.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds 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 Puagr~ph 19 the ProperlY is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from damage to tlie 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. PreItn..... ... MalatellUCt 0' Propert)'; Lnltllolds. Borrower shall not destroy. damage or substantially change
<br />the Properl)', allow the Properly to deteriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shall
<br />comply with the provisions of the 1Cll5C, and if Borrower acquires fee title to the Property, the leasehold and fee title shall not
<br />mer.: unless Lenckr qrees to the mer,er in writin..
<br />7. PnItedIoII of LHlIK'. ......... dIt ProSWrt)'; Monpp I...raace, If Borrower fails to perform the covenants and
<br />apeements, contained in' this Security Instrument, or there is a legal proceedin, that may significantly affect Lender's rights in
<br />the Property (such as a proceed in, in bankruptcy, probate, for condemnation or to enforet laws Or regulations), then Lender
<br />ma)' do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. lender's
<br />lIdions may include payin, any sums secured by a lien which has priority over this Security Instrument, appearinl in court.
<br />paylnareuonable attorney's fees and enterinl on the Property to make repairs. Although lender may take aClion under this
<br />pUqraph 7 lender don not han to do 50. Any amounts disbursed by Lender under this paragraph 1 shall be.-:ome
<br />additional debt of Borrower secured by this Security Instrument. Unless Borro.w~r. and lender agree to other terms of
<br />payment, these amountll ,hall bear interest from the date of disburseme~t at ihe'Noie Ulc and shall be payable. with intercsI,
<br />upon noc~ from Lemkr 10 Borrower rtquestinl payment. .
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