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<br />88- 103850
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<br />UNIfORM COVENANTS, Borrower and Lender covenlmt and agree as follows:
<br />1. P1IJ11le1d 0' PriDdpal ad mterelt; Pnpa)'lkllt and Late Cwps. Borrower shall promptly pay when dut'
<br />the principal of and interest on the debt evidenced b)' the NOle and any prepaymenl and late charges due under Ihe Note.
<br />2. F....'or Toea ad laar8Dce. Subjecl to applicable law or 10 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 />one-twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />lcuchold payments or around rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />man... in.urance premiums, if any. Tbese items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of cunmt data and rcunnable estimates offuturc: 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 />ate apncy (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not cbarJe for holdin. and applying the Funds, analyzing the account or verifying the escrow items, 1!nless
<br />Lenoler pays Borrower interest on the Funds and applicable law permits J~der to make such a cbartle. Borrower and
<br />Lender may qree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />sballliveto Borrower, without charge. an annual accounting of the 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 additional security for the sums secured by
<br />this Security InItrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to
<br />tbe due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the 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 />amount of the Funds held by Lender is not sufticient 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 Fundi held by Lender, If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than 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 &pinst the sums secured by this Security Instrument.
<br />3. A".&e.tfooo of P1I)'1M11IL Unless applicable law provides otherwise, all p8)'ments received by Lender under
<br />parqrapbs ] and 2 shaU be applied: fint. to late charges 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 />4. ClIuweI; u-. 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 />liorTowu sbalI pay these obliptions in the manner provided in paragraph 2, or if nOI paid in that manner, Borrower sha1I
<br />pay than 011 time directly to the penon owed payment. Borrower sbalJ promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />rec:eiptI ev'ideDcinl the payments.
<br />Borrower sbaII promptly discharge any lien which has priority over this Security Instrument unless Borrower: <a)
<br />Ip'eeI in writint to lbe payment of the obliption secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />raith lbe lien by, or defends apill5t enforcement of the lien in. 1ep1 proceedinp 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) leCures from the holder of the lien an
<br />qreement satisfactory to Lender subordinating the lien to this Security Instrument, If Lender determines thaI any pan of
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />DObc:e idenlifyiq the lien, Borrower shall satisfy the lien or take one or mo~ of the actions set forth above within 10 days
<br />of the livina of noIice.
<br />5. ~ ~r"'ft' Borrower shall keep the improvements now exittinl or hereafter erected on the Property
<br />insured apinst loss by fire. hazards included within the term "extended coverqe" and any other hazards for which Lender
<br />requires insurance, This insurance sha1I be maintained in the amounts and for the periods thaI Lender requires. The
<br />insurance carrier providing the insurance shaI1 be chosen by Borrower subjecl 10 Lender's approval which shall nOl be
<br />IIIIftIaOIIably withheld,
<br />AU insurance poticies and renewa1l sbalI be aca:ptab1e to Lender and shall include a standard morlplC clause.
<br />Leader IIIaU bave the ript to hold lbe poJicia and renewals. If Lender requires, Borrower shall promptly live to Lender
<br />aU receipts of paid premiums and renewal notice&. In the event or IOIS, Borrower shallgl\fe prompt notice to the insurance
<br />carrier aDd Leodcr. Leader may make proof oflosa if nOl made promptly by Borrower,
<br />Unless Lender aDd Borrower otherwise agree in writin" insura:lce proceeds shall be applied 10 restoration or repair
<br />of lbe Property "'mapd. if the restoration or repair is economically feasible and Lender's security is not lessened, If the
<br />rstoratioa or repmr is DOt economically feasible or Lender's security would be leuened. the insurance proceeds shall be
<br />applied to lbe IUlDlIeCUI'ed by this Security Instrument, whether or not then due, with any Cllcesli paid to Borrower, If
<br />IIonOwer abandons the Property, or does not answer within 30 days a notice from Lender thaI the insurance carrier bas
<br />oIiend 10 settle a claim. then Lender may COIlecI the ill5urance proceeds. Lender may use: the proceeds to repair or restore
<br />the Property or 10 pay IUJIJI secured by this Security Instrument, whether or not then due, The JO-day period will betin
<br />wilen the aotice is Biven.
<br />Unless Lender and Borrower otherwise qree in writing. any application of proceeds 10 principal shall not extend or
<br />pastpone the due date of the monthly payments referred to in pal1tlf'aphs I and 2 or chanse the amount of the payments, If
<br />UDder panpaph 19 the Property is acquired by Lender, Borrower's rilht 10 any insurance policies and proceeds resulting
<br />from damap to the Property prior to the acquisition shall pass 10 Lender 10 I he extenl of the sums secured by this Security
<br />IDltrument immediately prior 10 the acquisition,
<br />6. Po _ ..... ad M_tea8ce of..........; I I r II hoIdI. Borrower shall nol deslroy, damqe or substantially
<br />cbanp tbe Property, aIJow the Property 10 deteriorate or commil wute. If thiS Security Instrumenl is on . leasehold,
<br />Borrower IbaII comply with the provisions of the lease, and if Borrower acqUires fee litle 10 the Propeny, the leasehold and
<br />r. title IIIaU DOt merp UDIetts Lender 8If'eeI to the mer.er in writina.
<br />1. ,........ of ......... _II I. lilt, Pro,erty; Mortpae Insuruce. If Borrower fails to perform Ihe
<br />CIO\IllII8Dt. ud aareementJ contained in this Security Instrument. or the~ is I legal proceedinl thai may siIDificanlly aft'eel
<br />Lender'. riabtJ in the Property (.uch as I proceedina in bankruptcy, probale, for condemnation or to enforce laws or
<br />repdationl),then Lender may do and pay for whatever is necessary 10 protecl the value oflhe Property and Lender's n.hts
<br />111 the Property, Lender's actiont lI"..y include payin, any sums secured by I hen ",hich has priority over this Securily
<br />IDItlUmenl, appearinl in COIln. payin. reuonable Ittorneys' fees and enlenn, on the Propeny 10 make T'Cpaln, Althou,h
<br />Lender may take action under this paralraph 7. Lender does nol have to do so
<br />Any smounls disbuned by Lmder under thiS paraaraph 7 shall become addlUonll debl of Borrower ICCUred by thIS
<br />Scurity ]nstrumc'lI Unleu Borrower and Lender qree 10 olher terms of payment, these amounts shill bear Inl~1 from
<br />the cbIle or dlsburaemenl II lhe Note rale Ind shall br plyable, "'lIh \Rleresl, upon nollct from Lender 10 8orn''''t'r
<br />requaclnl JIlIymenl
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