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<br />88-
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<br />103896
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<br />UNIFORM COVENANT~ Borrower and Lender cov~nanl and agree as follows:
<br />I. Payment of Principal and Interest; Prepaymentlllld Late Charges. Borrower shall promplly pay when due
<br />Ihe principal of and inlerest on Ihe debt evidenced by Ihe NOle and any prcpaymenl and late charges due under the Note.
<br />1. Funds for Taxes aod Insurance. Subject to applicable law or 10 a wrillen waiver by Lender, Borrower shall pay
<br />10 Lender on Ihe day monlhly paymenls are due under the Nole, unlilthe Nole is paid in full, a sum ("Funds") equal 10
<br />one-Iwelfth of: (a) yearly laxes and as=smenlS which may allain priorilY over Ihis Security Instrument; (b) yearly
<br />leasehold payments or ground renls on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insllrance premiums, if any. These items are called "escrow items." Lender may eSlimale Ihc Funds due on the
<br />basis of curren I dala Bnd reasonable eslimates offulure escrow ilems.
<br />The Funds shall be held in an institution Ihe deposils or accounls of which are insured or guaranteed by 11 federal or
<br />slale agency (including Lender if Lender is such an inslilulion). Lender shall apply Ihe Funds 10 pay the escrow ilems.
<br />Lender may nOI charge for holding and applying Ihe Funds, analyzing Ihe accounl or verifying the escrow ilems, unless
<br />Lender pays Borrower inleresl on Ihe Funds and applicable law permits Lender 10 make such a charge. Borrower and
<br />Lender may agree in wriling [hal inleresl shall be paid on Ihe Funds. Unless an agreement is made or applicable law
<br />requires inter.:sl 10 be paid, Lender shall nol be required 10 pay Borrower an~' inleresl or earnings on the Funds. Lender
<br />shall give to Borrower, wilhoul charge, an annual accounting of the Funds showing credils and debils 10 Ihe Funds and the
<br />purpose for which each debit 10 the Funds was made. The Funds are pledged as additional securily for Ihe sums securcd by
<br />this Security Instrument.
<br />If the amOunl of Ihe Funds held by Lender, togelher wilh Ihe future monthly payments of Funds payable prior to
<br />the due dales of Ihe escrow ilems, shall exceed the amount required 10 pay Ihe escrow ilems when due, Ihe excess shall be,
<br />al Borrower's option, either promptly repaid 10 Borrower or crediled to Borrower on monthly payments 01 Funds. If Ihe
<br />amounlofthe Funds held by Lender is nol sufficienllo pay Ihe escrow items when due. Borrower shall pay to Lender any
<br />amounl necessary to make up Ihe deficiency in one or more payments as required by Lender,
<br />Upon paymenl in full of all sums secured by Ihis Security Instrumenl. Lender shall promptly refund to Borrower
<br />any Funds held by Lender, If under paragraph I~ Ihe Property is sold or acquired by Lender. Lender shall apply, no lalcr
<br />than immedialely prior to the sale of the Property or lis acquisil10n by Lender. any Funds held by Lender al Ihe time of
<br />applicalion as a credil againsllhe sums secured b~' this Security Instrumenl.
<br />3. Application of Payments. Unless applicable law provides OlhcTWlse. all paymenls received by Lender under
<br />paragraphs I and 2 shall be applied: fi"'t. to late charges due under Ihe NOle; second. 10 prepaymenl charges due under Ihe
<br />Note: third. to amounts payable under paragraph 2; fourth, 10 mleresl due; and laSI. 10 principal due.
<br />4. Oiarxes; LiUlI. Borrower shall pay alllaxes, assessmenls. charges. fines and impositions anribulable 10 the
<br />Property which may allaln priority over this Security In.strument. and leaschold payments or ground rents, if any.
<br />Borrower shall pay these obhgatlons m Ihe manner provided In paragraph 2, or if not paid m thaI manner. Borrower shall
<br />pay them on time directly' to Ihe pe",on owed paymcnl. Borrower shall promptly furnish 10 Lender all nOIlCes of amounts
<br />to be paid under thIS paragraph, If Borrower makes these paymenLs directly, Borrower shall promplly furnish 10 Lcnder
<br />receipts evidencmg the paymen...
<br />Borrower shall promplly dIscharge any hen which has pnonty .wer this Secunty Instrument unless Borrowcr: (a)
<br />agrees in writing 10 the paymenl of the obligation secured by the lien io a manner aeceptable 10 Lender; (b) eonlests in good
<br />failh the lien by. or defends AgalnSI enforcement of the licn in, legal proceedmgs which mthe Lender's opinion operale 10
<br />preverttthe enforcemenl of Ihe lien or forfClture of any part of Ihe Property; or (cl secures from the holdcr of Ihe Iicn an
<br />agreement sall.factory to Lender subordinallng lhe lien 10 IhlS Secunty Instrumcn1. If Lender delcrnnnes that any part of
<br />the Propeny " subject to a lien ,,'hlch may allum pnonly over thIS Secunty Instrument. Lcnder may gIVe Borrower a
<br />nOllee idenlifymg the lien, Borro....er .hall !\allsfy' Ihe hen or fake one or morc of the actions sel forth above wilhin 10 days
<br />of lhe giving of nOlice,
<br />S. Huard Insurance. Borrower shall keep Ihe improvements now eXisting or hereaflcr erccted on I he Properly
<br />insured against Ios.s by fire. halllrdsmcluded wlIhmthe tcrm "e. tended coverage" and sny olher hazards for whIch Lender
<br />requires insurance, ThiS lI"uranee shall Il<' mamtamed m the amounts and for Ihe periods Ihal Lender requires, The
<br />insurance carner prondmg the msuranee ,iUJlI be chosen hy' Borrower ,ubJ""1 10 Lender's approval ,,'hich shall nOl be
<br />unreasonahly wlIhheld.
<br />AlIulSunmce poliCIes and ren....a1s ,hall be aCcq1tahle tll Lender and shall mclude a slandard mortgage clause,
<br />Lendcr shall have Ihe nghtlo hold Ihe poliCIes and renewals. If Lendcr requlfl:s. Borrower shall promplly give 10 Lender
<br />BIl =iplS of paid premiums and ren""'31 nollces. In Ihe "venl of I""s. Borrower .hall gi"e prompl notice to Ihe msurance
<br />camer and Lender, Lender may make proof of los., If not made promplly' hy' Borrower
<br />Unless Lender and Borro..'er olherw,,,,, agree LO "'n1mg. LOsuranee proceeds shall be apphed 10 res111ra1l0n or repan
<br />of lhe "roperty damaged. If the reslOranon or repan IS economically feasIble and Lender's security" nOllcssened, If the
<br />resloration or rcpair is not economically feasible or Lender's securil~' would Il<' lessened. I he msuran.. proceeds shall be
<br />applied to the sums !oCCured by thIS Securily Instrument. whelher or nol then due. With any ucess paid 10 Borrowcr, If
<br />Borrower abandons Ihe Property. or docs nol answer wilhin 30 da)"> a nOlice from Lender Ihat the LOsurance carrier has
<br />otl'ered 10 sellle a claIm. then Lender may collecl the insurance proceeds, Lender may use Ihe proceeds \0 repan or restore
<br />the Property or 10 pay sums secured.hy this Secunty Instrument. whelher or nol Ihen due The 30-day penod Will begm
<br />when the nolice is gi,'en.
<br />Unless Lender and Borrower olheN'ISC agree m wmlng. any' application of pro<:eeds 10 pnnclpal shall nor cxtcnd or
<br />postpone lhe due date of the moothly payments referred to in paragraphs 1 and 2 or change Ihe amollnt oflhe payments, If
<br />under paragraph l~ the Property IS acqUIred by Lender. Borrower's nghl10 an~ Insurance pohCIL"S and proceeds resulllng
<br />from damage 10 the Property pnor 10 the acquisuion shall pass 10 Lender to the eXlenl oflhe sums secured hy thIS SecUTlly
<br />Instrumenl immedialely prior 10 the acqulstlion
<br />6. Pr_.....tioo aDd Maioleeam:e of Property; LeaRbolds. Borro..-er shall not destroy. damage or ,uhSlanllally
<br />chBnge Ihe Properly, allo..' lhe Property to deteriorale or commit wasle, If thIS SecunlY Instrument IS on a leasehold,
<br />Borrower~haIl comply wilh the prO'ISlons oflhe lea.se. and If Borrow"r acqUIres fee tllle to the "ropeny. Ihe leasehold and
<br />fee title shell oot merge unless Lender agrees to the merger In wTlllng,
<br />7. Protedioa of l.esder'l Ripts in tbe Propert)-; '\fortPKe losurance. If Borro..-er falls to perform the
<br />covenanlSand agreements coolained in Ihis Securil)' Inslrument. or I here 1\ a legal proceeding that ma)' slgOlficamly affecl
<br />Lender's rights in the Pwpert~' (such as a proceeding In bankruptcy'. probate. for cllndemnallon or t<, enforc" la..'s or
<br />fqlllatiom), lhen Lender may do and pay for ..-halC\er is nec""-sary to proleclthe \'alue of the I'ropeny and Lender', nghts
<br />in I!I.: Property, Lender'. acllOm may indude paying any sum, secured b~' a hen ,,'Iuch has pnonly o\'er thl\ SecUTlly
<br />lMlrurnenl. Bppe.anng III eoun. paYing reasonable allomey" fees and enlenng on the Property 10 make rep,m, Althoullh
<br />Lender may lake ,"clion under IhlS paragraph 7. Lender doo not ha"e 10 do S(l
<br />Any amoun" disbu.....d I>y' Lend"r under IhlS paragraph 7 shall become .ddnlllnal deh, of ROfn,,,cr 'e,'ured 0)" lh"
<br />St-cunt)' Instrument. Unleu Borro""t"r and Lender agrtt to olhtf term, of payment. Ihl""otc amllunt... ,hall hear lOlefest fnlm
<br />the dale of di.\buncmml ..t the SOIr' rate and ~hal1 ~ pa~ahlC'. ~'l1h mtcfC"1. UP"" nf'llh..'(" frllm l.ender In R(lrro""cr
<br />requ""lInl pa)'"'ClII
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