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<br />88-102811
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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 Charges. Borrower shsll promptly pay when due
<br />thl' principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note,
<br />Z. FIUIdII for Taltes and Insurance. Subject to applicable law or to a wriuen waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note. unlilthe Note is paid in full, a sum ("Funds") equal 10
<br />one-twelfth of: (a) yearly taxes and assessments which may attain priority over Ihis Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; ana 1.1) yearly
<br />mortgage insurance premiums. if any, These ilems 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 />stale agency (including Lender if Lender is such an institution), Lender shall apply the Funds to pay the escrow ilems,
<br />Lender may nol charge for holding and applying the Funds. analyzing the accoun! or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law pennits Lender to make such a charge, Borrower and
<br />Lender may agree in writing that interest shall be ~aid on the Funds, Unless an agreemenl is made or applicable law
<br />requires interest to be paid, Lender shall not be requIred to pay Borrower any interesl or earnings on the Funds. Lender
<br />shall give to Borrower, without charge. an annual accounting ofthe Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as addilional security for the sums secured by
<br />this Security Instrument,
<br />If the amount of the Fund!; held by Lender, together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items, shall ellceed Ihe amount required to pay the escrow items when due, Ihe excess shall be,
<br />at Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds, If the
<br />amoun! 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 m one or more payments as required by Lender,
<br />Upon payment in full of all sums secured by this SecunlY Instrument. Lender shall promptly refund to Borrower
<br />any Funds held by Lender, If under paragraph 19the Property is sold or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Property or liS acqulsilion by Lender. any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Secunty Instrument,
<br />3. Application of Pa,.entl. Unless applicable law provides otherwise, all paymenls received by Lender under
<br />paragraphs I and 2 shall be applied: firsl, to late charges due under Ihe Note; second. to prepaymenl charges due under the
<br />Note; third, 10 amounts payable under paragraph 2; fourth, to interesl due; and lasl. 10 principal due,
<br />4. <lIaraa; IJaIL 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,
<br />Borrower shall pay these obligations in [he manner provided in paragraph 2, or if nOl paid in that manner. Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />10 be paid under Ihis paragraph, If Borrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing Ihe payments,
<br />Borrower shall promptly discharge any hen whIch has pnorily over thiS Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligatIon secured by Ihe hen m a manner acceptable 10 Lender; (b) contests in good
<br />faith the lien by. or defends against enforcemenl of the hen 10. legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Ins!rument. If Lender determines that any part of
<br />the Property is subjeCt 10 a lien which may attalO priomy over thiS Securily Instrument, Lender may give Borrower a
<br />notice identifying the lien, Borrower shall salisfy the hen or take one or more of the actions set forth above within 10 days
<br />of the giving of notice,
<br />5. HuanlI_1"8IICe. Borrower shall keep Ihe Improvements now eXIsting or hereafter erected on the Property
<br />insured apinstloss by fire. hazards mcluded withlO Ihe term "elltended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be mamtamed an [he amounts and for the periods that Lender requires The
<br />msurance carTier providing the Insurance shall bo: chosen by Borrower subJecl 10 Lender's approval which shall nol be
<br />unreasonably withheld,
<br />All msurance poliCIes and renewals shall be acceptable 10 Lender and shall include a standard mortgage clause,
<br />Lender shall have the ri/!ht to hold Ihe policies and renewals, If Lender requires, Borrower shall promptly give 10 Lender
<br />all receipts of paid premiums and renewal nouces. In the event of lou, Borrower shall give prompt notice to the msurance
<br />carrier and Lender, Lender may make proof of loss if not made promptly by Borrower,
<br />Unless Lender and Borrower otherwtse agree m wnting. insurance proceeds shall be apphed to reslorauon or repair
<br />of the Property damaged. if the restorauon or repair IS economically feasible and Lender's security IS not lessened If Ihe
<br />restoration or repair is not economically feasible or Lender's security would be lessened. the msurance proceeds shall be
<br />applied to the sums secured by this Secunty Instrument. whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property. or does not answer ",'ithin 30 days a notice from Lender that the insurance carner has
<br />oIFerc:d to settle a claim. then Lender may collecl the 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, The JO-day penod wtll besan
<br />when the notice is given,
<br />Unless Lender and Borrower otherwise agree In writing, any application of proceeds to principal shall not elltend 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 paraJraph 19 the Property is :lcqUlred by Lender. Borrower's right to any msurance policies and proceeds resuhmg
<br />from damage to the Property prior to the acquisition shall pass to Lender to the eltlent of the sums secured by thts Secunly
<br />Instrument immedialely prior to the acquisllion,
<br />6. Prelenatlon ad MalDtenaace of Propertl'; Leaadtokla. Borrower shall nOI destroy. damage or subslanlially
<br />change the Property. allow the Propert)' to deteriorate or com mil waste, If Ihis Secunly Instrument IS on a leMehold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acqUIres fee litle 10 Ihe Property. t he leasehold and
<br />fee title shall not merge unless Lender agrees to the merger an writing,
<br />7. PnltedJoe of LnlIer'. Rlptl in the Property; Mort~ Insurance. If Borrower fails 10 perform the
<br />covenants and agreements contained in thiS Secunty Instrumenl, or Ihere IS a legal proceedmg thaI may Slgnlficantl)' affect
<br />Lender's rishts in Ihe Property (such as a proceedang an bankruptcy, probale, for condemnallon or 10 enforce law5 or
<br />reJUlalions), then Lender may do and pay for whatever II necessary to protecl Ihe value of lhe Property and Lender's righls
<br />In the Property, Lender's actiollJl mllY mclude paymg any sums secured b)' a hen whIch has pnom}' over thiS Secunty
<br />Instrument, appearing in coun, paying realOnable anorneys' fees and enlenng on Ih~ Properl)' to mak~ repaIrs Allhough
<br />Lender may tak.: &Cllon und:r Ihis paragraph 7, Lender does nol have 10 do so
<br />"ny amounU dllburKd by Lender under thiS paragraph 7 shail becom~ addtllOnal debl of Borrow~r secured by 1 hIS
<br />Sccunty Instrument Unleu Borrower and Lender agree 10 other lemu of payment. th~ amounts shall bear m[~rest from
<br />tbe dale of dllhur\Cmenl al the NOle rale and shall be payable, wllh tnleresl, upon nOllc~ from Lender 10 ""rrower
<br />requellng paymenl
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