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<br />88-- 102364
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<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal and Interest; Prepayment and Late CharJles. Borrower shall promptly pay when due
<br />the principal of and interest on Ihe debt evidenced by the Note and any prepayment and late charges due under the Note,
<br />2. Funds for Taxes and Insurance. Subjeetto applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") equal to
<br />on,,-twelfth of: Ca) yearly taxes and assessments which may altain priority over Ihis Security Instrument; (b) yearly
<br />lcuchold payments or ground rents on the Propeny. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />monsase 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 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 />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds. analyzing the account or verifying the escrow items, unl::ss
<br />Lender pays Borrower interest on the Funds alld applicable law permits Lender 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 made or applic"!'>'" law
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Fun", Len.;::r
<br />shall give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funo:. ..ad the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Security lmtrument.
<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 exceed the amount required to pay the escrow items when due, the e.'\CCSs shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Funds beld by Lender. If under paragraph 19 tbe Propeny is sold or acquired by Lender. Lender shall apply. no later
<br />than immediately prior to the sale of the Propeny or its ocquisition by Lender. any Funds held by Lender at the time of
<br />application as a credit against tbe sums secured by this Security Instrument.
<br />3. AppIicatioa of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; second. to prepayment charges due under the
<br />Notl:; third. to amounts payable under paragraph 2; founh. to interest due; and last, to principal due.
<br />4. CIIarIes; LieIII. Borrower shall pay dl taxes, assessments, charges. fines and impositions attributable to the
<br />Property wbich may atuin priority, over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided ill paragrapb 2. or if not paid in that manner. Borrower shall
<br />pay them on time directly to the penon owed paymenL Borrower shall promptly furnish to Len.:ler all notices of amounts
<br />to be paid under this paragrapb. If Borrower makes tbese payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments,
<br />Borrower shall promptly discharge any liom wbich bas priority over this Security Instrumenl unless Borrower: (a)
<br />qrees in writing to the payment oftbe obligation secured by the lien in a manner acc:eptable to Lender; (b) ronteStS in good
<br />faith the lien by, or dd'cnds against enforcement of the lien in, legal proceedinp .,hieh in the Lender's opinkm operate 10
<br />prevent the enfcm:ement of the lien or forfeilure of any pan of tbe Property; or (c) secures from tbe holder of the lien an
<br />qreement utisfactor}' to Lender subordinating Ibe lien 10 this Security Instrurncnt. If Lender dctennines that any pan of
<br />the Property is subject to a lien whicb may attain priority over this Security Instrument, Lender may give Bol'l'O'A'er a
<br />notice idc:IItifying the lien, Borrower shallutisfy the lien or take one or more of the actions set fonh above within 10 days
<br />of the livin. of notice.
<br />5. HaanI ~ Borrower shall keep the improvements now existing or hcrealier erecled on the Property
<br />insured against IGiS by fire, hazards included within tbe tenn "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in Ihe amounts and for the periods tbat Lender requires. The
<br />insurance carrier providing tbe insurance shall be chosen by Borrower subjccl 10 Lender's approval whicb shall DOl be
<br />unrellllOllAbly withheld,
<br />All iDlurance policies and renewals shall be acceptable to Lender and shall include a standard mortPF clause.
<br />Lender IhaU have the riJbt to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender
<br />all nx:ciptl of paid pmniuma and renewal notices. In the evenl of loss, Borrower shall give prompt notice to the insurance
<br />carrier IDd Lender. Lender may make proof of IGiS if nOl made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing. insura.,ce proceeds sball be applied to restoration or repair
<br />of the Propeny damaled. if tbe restoration or repair is economically feasible and Lender's security is not 1esscDed, If the
<br />restoration or repair is nOl economically feasible or Lender's security would be lessened. the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument. wbetber or nOI then due, with any excess paid to Borrower. !f
<br />Borrower abudons the Property, or does nOI answer within 30 days a nOlice from Lender that the insurance carrier has
<br />dFeRd to settle a claim, tben Lender may collect tbe insurance proceeds, Lender may use the proceeds 10 repair or restore
<br />the Property or to pay sums secured by this Security Instrument. whether or not then due, 1be 3O-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any applicalion of proceeds 10 principal shall not extend or
<br />poiIpone the due date of the montbly payments referred to in paragraphs I and 2 or change Ihe amount of the payments. If
<br />under puqraph 19 the Propeny is acquired by Lender, Borrower's right 10 any insurance policies and proceeds resulting
<br />from damqe to the Property prior to the acquisition shall pass to Lender 10 the elllent of the sums secured by this Security
<br />Instrument immediately prior to Ihe acquisition,
<br />6. ~ aM MlliateallCe of Pro,erJr; LeeIeIao'" Borrower shall nOI destroy. damage or substantially
<br />change the Propel1y. allow Ihe Propeny to deteriorate or commit waste. If this Security Instrument is on a leasehold.
<br />Borrower sha11 comply witb tbe provisions of the 1easc. and if Borrower acquires fee tille to tbe Propeny. the leasehold and
<br />fee title IbaII DOC metJC unless Lender I8ree5 to the meraer in writing,
<br />7. PntedioII 01 LeIMIer'l RiP" In die Pro,erty; MortJPIIC Insurance. If Borrower fails to perform the
<br />covenants and apeements rontained in Ihis SecurilY Instrumenl, or Ihere is a legal proceeding that may significantly atreet
<br />Lender', riahll in lhe Propel1y (such as a proceeding in bankruptcy. probate, for condemnation or to enforce laws or
<br />rqulations). lhen Lender may do and pay for whatever is necessary 10 protectt he value of the Propeny and Lender's rights
<br />in the Property, Lender's aclions may include paying any sums secured by a hen which has priority over this Securit)'
<br />IlIIlrumenl. appearing in caun. pa)'ina reasonable attorneys' fees and enlering on the Property to make repairs, Ahbouah
<br />Lender may take aClion under Ihis parasra9h 7. Lender does nOI have 10 do so.
<br />Any amounts disbursed by Lender under Ihis paraaraph 7 shall become addlllonal debt of Borrower secured by th..
<br />Security Instrument Unless Borrower and Lender agree 10 olher terms of payment. these amounts shall bear mleresl from
<br />lbe date of'disbursement a' Ihe NOle rale and shall be payable. with interest, upon nOllce from lender 10 Borrower
<br />requestinl payment
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