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<br />88- 10t)1""'O
<br />UNIFORM CO\'ENAl'o'TS_ Bormwer and Lender covenant and agree as tallows: "- tj
<br />1. Payment of Principal and Interest; Prepa)'D1ent and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and a.ny prepayment and late charges due under the Note.
<br />2. FW'lds for Taxes and Insurance.. Subject 10 applicable law or to a ",rinen waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under tbe Note. until the Note is paid in full, a sum ("Funds") equal to
<br />one-twelfth of: (a) )'early taxes and assessments which may attain priority over this Security Instrument; (0) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) )'early hazard insurance premiums; and (d) )'early
<br />mortgage insurance premiums, if any. These items are called "escrow items," Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimales of future escrow items..
<br />The Funds shall be held in an institution the deposits or acrounts of which are insured cr guaranteed by a federal or
<br />state agency (induding Lender if Lender is such an institution), Lender shall apply the Funds to pa;y the escrow items.
<br />Lender may not charge for holding and applying the Funds., analyzing the account or verifying the escrow items, unles..~
<br />Lender pa}'s Borro....er interest on the Funds and applicable law permits Lender to make such a charge. Borro,,-.:r and
<br />Lender may agree in ,,'riling Ihat interest shllll be paid on Ibe Funds.. Unless an agreement is made or applicable law
<br />n.quires interest to be paid. Lender shllll nol be required to pay Borrower any interest or e.arnln.gs on the Funds. Lender
<br />shaD gl\'e 10 Borrower. 'without charge, :an annua1 accounting ofthe Funds showing credits and debits 10 the Funds and the
<br />PIll'Jl'llSC for which each debit to the Funds was made. The Funds are pled,ged as additional securit)' for the sums secured by
<br />tbisSecurity Instrument.
<br />H the amount ohhe Funds held by Lender, together with the fut\lre monthly pll.)'TTIents of Funds payable prior to
<br />the due dates of the esc-.row items, shall exoeed the ;amount ;requirc.d to pay the escrow items when due, the exC'eS.'\ shall be.
<br />at Bo.rrowu's option, either promptly repaJd to Borrower or credhed to BOT1'ower on monthly payments of Funds. If the
<br />amount of the Funds heM by Lender is f1(!>t sufficient to pay the escrow items when due, Borl'm\'<'.r slu.ll p3.)' to Lender :any
<br />amount nooessary 10 ma1~ up the deficiency in one n'l' more paymenlsfts ~"quirod by lender,
<br />Upon payment in full of aU :sums secured by this Socurity Instrumen" lender shan I'lromptly refund to Borrower
<br />any Funds heM by Londer.lfunder para,guph U9 the Propeny ijs sola or :acquired b~' Lender, Lender :shall aPI'I~\ no bter
<br />than immcdiatdy prior 10 the we of We Propeny ror ijts :acqUisition by Lender, :any Funds held by Lender at the time of
<br />a.pp1.ic.atioo:asa credit a,gains, the :sums 'SOCured!by thiS S~urity Instrument.
<br />3. Application of Payments. Unless ;applicable law pro,,~des otherWISe, ;all payments l'CCci\'ed b~' l.ender under
<br />paragraphs I and 2 -shall be applied: first., 10 Rate ,charges due 'Under ~he N'llIt('~ soonnd, to prepaymen' char.ges due under the
<br />Not~ third. to amounts payable under paf1l,graph 2; d'ounh, tn iinteres, ,due.; ;and bst, to principal due.
<br />t. <lw'ges; Ue..", Borrower shall pay all taxes, assessments, charges, fines :lOd impositions aUribu'able to the
<br />P.ropercy ",'blc:h may attain pnlority}ovC'.r lhis Security Instrument, ,And aCllse'hold pll)'TTIents Of ground rents, if any.
<br />Borroll'eT shail pay these obligations in Ihe manner pro,~dod :in para,graph 1, 'or if {lot ,pll.ld in that manner. Borrower :shan
<br />pay them on time directly ttJ :the person ('Iwcd lPa)ment. Bor-rnwer'SbaH promp1ly fumisl. to Lender aU nOliccs of amoun's
<br />to be paid under this paf1l,gR.pb. If BoTl'ower Iffia'kes dlese paymen,s directly, Borrower 'Shan promp,ly furnish to l<-nder
<br />~plsevidentin.g the payments,
<br />&no.'er !.haU promptly di!lOhar,ge ;any Dien '\\'hic~l has priority o\'er this Socutiity instrument unless &rrower; (8)
<br />awees in .'litin.g to lIle payment oftneobliga,ion $C{',ured!by .he lion ~n:a manner ;&o<<p,able to LendC'.t; (b) c.:Intests in:g('lOd
<br />faith the lien by, or defends :a,pinS\ enforQOmcn1 ('If ~he 'ien in, legal proceedings .'tlith in t'he Lender"s 'Opinion opera,e to
<br />pInClDt the enforocmmt afthe lien or rl'!-rfeitu~ ohny part of the Property~ OT (c) secures from t'he holder oftl'le Uen an
<br />~cn' satisfaotol)' to l.a1deuubordinating the lien .0 this Seourity Instrumenl. lfLcndcT delennines that any pArt of
<br />the Property is subjca 10 a lien which ~ay atlainpnori1y ,<wer this Security Inslrumen" Lender may .givc Borrower a
<br />aotioe identifying the lien. &rro"'N s'ha\l $atis.-f,y .'he lien <'T tale one 'Of more ohhe ,1lC'tions 'Sl.'l fonh :abovc within lG da)'s
<br />oftbeShin,gofllotioe.
<br />5. nu.ar.J lauruce. B.."llTmwer -r;halll<<:p the qmpf'O\'emenls lflOW -e"isling 'or hereafter <erected on ,he Propeny
<br />inli'\md a&aimt. Boss by iIWe" huards included within the torrn ~\eX1Mdod oovor8,ge" :and any other hU.llrds for which Lender
<br />aquirc:s il1l.'UT&noe. This :insurance ~hall be main1ained in .he amounlsllnd for the ~.riods ithat Lender <<'quires. The
<br />inwraDoe camior pro\idil\& the insuTAnoe "han be cllOscn !by Bor.ro\\'cr 'SUbjoot 10 Lender's approval whkh shall not be
<br />uDJawmab1y y,itbhe1d.
<br />All iMuranoe policies :and KJnewals !.ball Ibe iIlClCq)ta'ble ita l..endC'.r :and :s.nall in dude :a $landard monSl\8e ~lsuse.
<br />Leader shaD have the rWtl to hoM the policies ;and I(1OnC1A'sls. If Lender requii'cs. Borrower ~hall f'rom)'ltly :give 10 Under
<br />aU reocipt$ of paid premiums;and t'OIlewal nllltioes. In the <evr.n' of8oss, Borrower -shall.gh'e prompt notke to the 'nsl.lT'anC'~
<br />curier and Lcoiklr. Lender may make proofoHDssifno1 made promptly by Bowower.
<br />UJldtllS ullulor ;and B(lItrowtlJ' Othentr1SC tt,gree ijn 'wn Ling. nnsu Ta nIX' PfOC,oeds shall be appli od to.res t oration (lr replll r
<br />ofahe Property chma,ged. iftbe ('($toration or ~pair iis eClOnomically feasible and Le.nder"s security qS not lessent'<!, If the
<br />R$1oratil)n or Rpair is nol CIOMomica!ly feaslble OT Lender''li '!loculity would be lessened, the insuranoe pfOOC('ds shan be
<br />app!icd to Ibe $Urn" SClC>u.mJ by this Securi'y Instf'Ument. whe1ller OT :no' .nen dUt:, with :any UCCSi paid to Borrower, If
<br />Bonoau abandons Ihe Pl'OpC'11ly, ordOCli Illot ansv.'tlf within 30da}'s 11 notice from Lender tluu ,lte ~m;uranoe carrier ha"
<br />oIftted to Ktde a daim, then Lender may <<'I1100t the iinsurAnoe IPfooeeds, Lender ma~' use the prot'oeds t 0 f'Cpair 'Or rc!ltore
<br />the Propt.ny or to pay $ums soooNld by thiS Soouri1y Instrument, whether or not thC'./l due, The 3o..dllY period will begin
<br />.hen the notice is 8l\'M.
<br />Unless l.encl~ and 8o.rro.'OTOlberwisc ~rce in writing, any :applica'lon of f'roceod s to principal 'ShaH not extend ('IT
<br />pot;1pooe lhe due date oflhe monthly pa)'Il1ents fClfeJTed to in parb.grAphs land l (It' ~hant:e the amount of the pa~'ment~. If
<br />under p&r'iT~ 191hc PropCll1y is aoquiRld by Lenl3er, 8orrowor's '~8bt '0 an}' ~nsurant'e policies and proc-e<'ds resulting
<br />rromdam.,e tOlhe Propert)' priDrlO Ihcacq\lisitil'1O 1-han ",ass Co Lender toqhe e~tem of~he ~"m1i sN"ul'c'd \1)' this SN"urilY
<br />lM1roment immcdia1dy pri()f to Ihe acquisition,
<br />6. Pnlttutiollud .Mtiateant'e of ProperJt.l..euellb\cl~. BotT(lwtT'Shllll n01 dC's.l1'(l)" dllmllge (IT $i\lh~ll\ntiall)'
<br />dwIge the Property, allow Ihe Property to detMt\ra1e Of oommit wlSle. tf .his Sl'curit)' Im.trument ~s nn II leasehold,
<br />Bor-ro.'cnhallrompl)' lIIith the prO\luMs of the Jeaw:. :And if&Prower acquires fee title to the Prope';n)', .he le./lschold and
<br />fee title sha1J not mclge unless Lemler ~rca to .be merger in writing.
<br />7. PnhctkIII of ........ RiPls i. lite Propert)'; Mortgaae Inl'uralK'e, If Bl)rrowtr fails to perfClrm the
<br />CO\'U\Uts and lIIrecments con"incd inlhi" Security Ins;trument. or there ~i a kgal prC\C'CC'ding thllt may 'Significant1)' IIffC'Cl
<br />Lmder'~ rilht" in the Propeny (such as a prooecding in ~nkruptc)', probale, for condemnation (lr to enforce laws or
<br />ftIUlatioRs), Ibm Lendc-s may do and pay for ,,'hate"eris neoessal)'l{)~rotect itbeyalueof'he Property and tender's rights
<br />ill lhe Propa1y. Lender's actions may indude pa)-1ng any sums scC'urt...-t b)' a lien which has priori')' O\'cr lhii Security
<br />Imtrurnm',.appeari11J in rourt, paling reasonableauomeys' fccsand efl1ering on the Propell)' to make repairs. Allhough
<br />l..mdu may take action uode,," Ihis paragraph 1, Lender docs not hl\'c 1<' do so.
<br />An)' amounts diWuned by Lender under this paragraph 7 shall bc-come addit ional dC'\1t of Borrower secured b)' this
<br />SecurilY Instf\lmmt, Unless Borro.'Cf and u-ndc-,," agree to otherlenns ofpa)'men1. IhC'jOC amounts \hall hear interC'\t f((lm
<br />the date of di..bursemmt at the Note rate and mall be f\l)'ablC'. wilh interC\\, U(lOI\ l\(1l1(.'C' from Lender 1\1 Borrower
<br />requcstin. pa)'mcnt,
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