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<br />88-
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<br />102984
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<br />UNiFORM COVENANTS, Borrower and Lender covenanl and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment-and Late Charges. Borrower shall promplly pay when due
<br />Ihe principal of and inleresl on Ihe debt evidenced by the Note and any prepayment and lale charges due under Ihe Note.
<br />2:. Funds for Taxes and Insurance. Subjecllo applicable law or 10 a written waiver by Lender, Borrower shall pa'
<br />10 Lender on Ihe day monlhly payments are due under the Note, until the Nole is paid in full, a sum ("Funds") equal ,0
<br />one-twelfth of: (a) yearly taxes and assessmenls which may attain priorily over this Security Inslrumenl; (b) yearly
<br />leasehold paymenls or ground renls on the Property, if any; (c) yearly haiard insurance premiums; and (d) yearly
<br />mortgage insurance premIUms, if any. These ilems are called "escrow ilems." Lender may eslimale Ihe Funds due on the
<br />basis of currenl dala and reasonable eslimates of fulure escrow items.
<br />The Funds shall be held in an instilulion Ihe deposils or accounls of which are insured or guaranleed by a federal or
<br />stale agency (including Lender if Lender is such an instilution). Lender shall apply Ihe Funds 10 pay the escrow ilems.
<br />Lender may not charge for holding and applying Ihe Funds, analyzing Ihe accounl or verifying Ihe escrow ilems. unless
<br />Lender pays Borrower interesl Oil the Funds and applicable law pennils Lender to make such a charge. Borrower and
<br />Lender may agree in wriling thaI interesl shall be paid on Ihe Funds. Unless an agreemenl is made or applicable law
<br />requires interesl to be paid, Lender shall nol be required 10 pay Borrower any inleresl or earnings on Ihe Funds. Lender
<br />shall give to Borrower. without charge, an annual accounting of the Funds showing credils and debils 10 Ihe Funds and the'
<br />purpose for which each debil to the Fur-ds was made, The Funds are pledged as additional securily for Ihe sums secured by
<br />Ibis Security Instrumenl.
<br />If the amounl of the Funds held by Lender, logelher with the fUlure monlhly payments of Funds payable prior 10
<br />the due dates of Ihe escrow ilems, shall exceed Ihe amounl required 10 pay the escrcw ilems when due, the excess shall be,
<br />at Borrower's option, eilher promptly repaid to Borrower or crediled to Borrower on monlhly paymenls of Funds. jf Ihe
<br />amount of Ihe Funds held by Lender is not sufficienl to pay Ihe escrow items when due, Borrower shall flay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Ler.der.
<br />Upon payment in full of all sums secured by Ihis Security Inslrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 Ihe Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immedialely prior 10 the sale of Ihe Property or its acquisition by Lender, any Funds held by Lender allhe lime of
<br />application as a credjl against the sums secured by Ihis Securily Inslrument,
<br />3. Applicatioa of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, 10 lale charges due under Ihe Note; second, 10 prepaymcol charges due under the
<br />Note; thi:l:l, 10 amounts payable under paragraph 2; fourth, 10 inlerest due; and lasl, to principal due.
<br />4. Charla; Lieu. Borrower shall pay all taxes, assessments, chl!rges, fines and impositions attributable to the
<br />Property which may attain priority, over Ihis Securily Inslrumenl, and leasehold payments or ground rents. if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if nol paid in thaI manner. Borrower shall
<br />pay them on lime directly to Ihe per!.OD owed paymenl. Borrower shall promplly furnish 10 Lender all notices of amounts
<br />10 be paid under this paragraph. If Borrower makes Ihese payments directly, Borrower shall promptly furnish 10 Lender
<br />receipts evidencing the paymenls.
<br />Borrower shall promptly discharge any lien which has priorily over Ihis Securily Inslrument unless Borrower: <a)
<br />agreeli in wriling 10 the payment of the obligation secured by Ihe lien in a manner acceptable 10 Lender; (b) conlests in good
<br />faith the lien by, or defends againsl enforcemenl of the lien in, legal proceedings which in Ihe Lender's opinion operale 10
<br />prevenl the enforcemenl of the lien or forfeilure of any part of Ihe Propeny; or (c) secures from Ihe holder of Ihe lien an
<br />agreement satisfaclory 10 Lender subordinating the lien 10 thiS Securily Instrumenl. If Lender detennine:o thaI any pan of
<br />the Propeny is subject 10 a lien which may altain prionlY over this SecurilY Inslrument, Lender may give Borrower a
<br />nolice idenlifying the lien. Borrower shall satisfy the lien or take one or more of Ihe aClions set forth above wilhin 10 days
<br />of Ihe giving of nolice.
<br />5. Hazard lannace. Borrower shall keep the improvemenls now eXisting or hereafter erecled on Ihe Property
<br />insured againslloss by fire. hazards included wilhin Ihe lenn "alended coverage" and any olher hazards for which Lender
<br />Rquires insurance. This insurance shall be maintained in the amounts and for :he periods that Lender requires. The
<br />insurance carner providing .he insurance shall be chosen by Borrower subJccl to Lender's approval which shall not be
<br />unreasonably wilhheld,
<br />All insurance policies and renewals shall be acceptable 10 Lender and shall include a standard mongage clause.
<br />Lender shall have Ihe right 10 hold the policies and renewals. If Lender requires, Borrower shall prompl!y give 10 Lender
<br />all m:cipls of paid premiums and renewal nolices. In Ihe event of loss. Borrower shall give prompl nOlice to Ihe insurance
<br />csrrier and Lender. Lender may make proof ofloss if nOI made promplly by Borrower.
<br />Unless Lender and Borrower olherwise agree in writing, insurance proceeds shall be applied 10 restoralion or repair
<br />of the Propeny damaged. if Ihe restoralion or repair is economicaUy feasible and Lender's securily is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's securilY would be lessened. Ihe insurance ptoceeds shall be
<br />applied 10 Ihe sums secured by thi.~ Securily Inslrumenl. whelher or nOI then due, wilh any excess paid 10 Borrower. Jf
<br />Borrower abandons Ihe Properly, or does nOI answer within 30 days a notice from Lender lhallhe insutance carrier has
<br />oIf'ered 10 senle a claim, Ihen Lender may collecllhe insurance proceeds, Lender may use the proceeds 10 repair or reslore
<br />the Properly or to pay sums secured by this Security Instrument. whether or nol Ihen due. The 3O-day period 'll'ill begm
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in wriling, any applicalion of proceeds 10 principal sball ilol extend or
<br />poslpone Ihe due date of Ihe monthly payments referred 10 in paragraphs I and 2 or change Ihe amounl of I he pa)'mems, If
<br />under paragraph 191he Property is acquIred by Lender. Borrower's righlto any insurance policies and proceeds resulnng
<br />from damage 10 Ihe Propeny prior to the acqUisition shall pass to Lender to the eXlent orthe sums secured by thiS Sccunty
<br />Instrument immedialely prior to Ihe acquisition,
<br />6. PreserYatlon ud Maintell8ftCe of Propert.f; LeaeIIoIda. Borrower shall not deslroy'. damatle or subslantlally
<br />change the Propeny. allow the Propen)' to deleriorate or commit wasle, If Ihls Secunty Instrumenl 1~ on a leasehold,
<br />Borrower shall comply with Ihe provisions oflhe lease, and irBorrower acqUIres fee lille 10 the Propeny. the leasehold and
<br />fee Ii tie shall nol merge unless Lender agrees to .he merger in writing.
<br />7. Protec:tiOB of Leeder', Ripn in the Property; MortpRe Insurance. If Borrower fails 10 perform the
<br />covenanls and agreemenls contained in Ihis Secunty Instrument. or there IS a legal proceeding that mtly slgnrficantly affect
<br />Lender', rights in the Propeny (such as a proceeding III bankruptcy, probale, for condemnallon or to enforce laVr10 or
<br />n:.ulations), Ihen Lender may do and pay for whalever IS necessary to prOlecllhe value of the Propen)' and Lender's rights
<br />in Ihe Propcny Lender's actions may include paymg any sums secured by a hen whIch has prionty o\'er thIS SccurilY
<br />Instrumenl. appearing 10 coun, paying reasonable attorneys' fees and entenng on Ihe Propeny 10 make repaIrs, AlthC'ugh
<br />Lender may take Bcllon under Ihls paragraph 7, Lender does nOI have 10 do so
<br />Any amounts disbursed by Lender under Ih" paragraph 7 shall become addlllonal debl of Borro...er se.;:ured b)' IhlS
<br />Securlly Instrumenl Unles$ Borrower and Lender agree 10 olher lenns of paymenl. lhese amounls ~hall bear mte~l fmm
<br />the dale of disbursement at the Note rale and \hall be paY'8ble. ..'uh mlere'!<t, upon notlcc from Lcnder 10 Borfl'l1I'cr
<br />rllque.1oll1111 payment
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