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<br />RE.RECORDED
<br />88--104632
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<br />88_104163
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<br />UNIFORM COVENANTS Borrower and lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment IlOd Late Charges. Borrower shall promptly pay WhCll due
<br />the principal ofalld interest Oil thedeblevidellced by the Note and any prepaymelll alld laic charges due under the Nole.
<br />~. Funds for Taxes and Insurance. Subject to applicable law or to U IVrittell waiver by Lender. Borrower shall pay
<br />III Lender on lhe day mOllthly paymenls are due under the Note, ulltil the Note is paid ill full, a sum ("Funds") equal 10
<br />one-twelfth of: (a) yearly laxes and assessments which may attaill priorilY over this Security InstTUJ11ent; (b) yearly
<br />leasehold payments nr ground rents on the Property, if any: (e) yearly haznrd insurallee premiums; and (d) yearly
<br />mortgage insurance premlums, if any. These items are called "escrow items." lender may estimate the Funds due on the
<br />basis of current data and reasonable eslimates offuture escrow ilems.
<br />The Funds shall b. held ill all institution lhe deposits or accounts ofwhieh are insured or guarallteed by a federal or
<br />stale agellcy (including Lender if Lellder is such an institulioll). lellder shall apply the FUllds to pay the escrow items.
<br />lender may not charge for holding and applying the Funds, allalyzing the aceount or verifying the cserow ilems. llllless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree ill writillg lhat interest shall he paid on the Funds. Unless an agreement is madc or applicable law
<br />requires interest to be paid. Lender shalJ not be required 10 pay Borrower any interest or curnings on the Funds. Lender
<br />Sohall give to 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 8.< additiollal secllrity for the sums secured by
<br />this Security Instrument.
<br />If the amount of the FUllds held by Lender. together with ,he future mOllthly paymellts of Funds payable prior to
<br />the due' dates of the escrow items. shall exceed the amount required to pay the c.'icrow items when due. the c;'(cess shall be,
<br />at Dorrower'~ option. either promptly repaid to Borrower or credited 10 Borrower on monthly payments of Funds, If the
<br />amount oflhe Funds held by Lt:nder is not suffident 10 pay the escrow items when due. Borrower shall pay to Lender any
<br />amount necessary to make up fhe deficiency in one or more payments as required by Lender,
<br />Upon payment in full of aU SUlT15 st."Cured by this SecurllY Instrument. Lender shall promptly refund to Borrower
<br />all)' FUlld, held by Lender If under paragraph 19 the Property IS sold or acquired by Lellder. Lender ,hall apply, 110 later
<br />Ihan lmmedialely prior to the ~ale of the Property or llS acquI"iilinn by lender. any Funds held by lender a1 the time of
<br />apphcal1ol1 a... a credit agomM Ihe sums sl.ocured hy IhlS Security Instrument.
<br />J. Application or ?aymen15. Unless applicable law proVides otherwise. all payments rcceh'ed by lender under
<br />paragraph!!! I and 2. ~hall be apphed: fir.;t. to late charges due under the Note: second. to prepayment charges due under the
<br />Note: third. to amounts payable under parngrJph 2; fourth. ltl mlerest due; and Just. to princlpal due.
<br />. 4. ChargD. Lien~. Borrower shall pay all taxcs., as!)CS,smenb. charges, fines and impositions attributable to the
<br />Propc:ny which ma)' auain priority over chis Seeunty Instrument. !Iud leasehold payments or ground rents. if any.
<br />Borrower shall pay the!<ie obligations an the manner prlwidc.:1 m paragraph 2, or If not paid in that manner. Borrower shall
<br />pay lhem on Irme' directly 10 the person owed payment. Borrower !thaU promptly furmsh to lender all notin's of amounts
<br />to be paid under thiS paragraph, If Borrower maLe. these paymcnt~ dIrectly. Borrowe'r shall promptly funush to Lender
<br />receipts evidencmg Ihe payments
<br />Borrower !ihnH promptly dl~chargc any hen which ha., pnnnty o\'cr thl!o. Seeunty In~trument unless Borrower: (3)
<br />agreo 10 writing In the paymenl of the obliiUJtlon \ccured by the lien m a manner acceptable to Lender: (b) contests in good
<br />f31th the lien by, or defends a83105C enforcement of the hen 10. legal proceedmg!'. which 10 lhe lender's opinion operate to
<br />pre::\'cnt the:: enforcement of the he::n or forfCJturc of any part of the Propcny: or (c) secures from the holder of the hen an
<br />agreemenl SDlIsfactol)' to Lender !\ubordmuung the lien to Ihls Secunty Instrumen1. If lender determines thai any parl of
<br />the Propen)' I!l. subject to B tien which may aUDIO pnont)' over IhlS Secunty Instrument. lender may give Borrower a
<br />noI1l:(' Identlf)'lOI; the' lien Borrower ...halllkll1sfy the hen nr take on/:' or mort' nf Ihe' act1nn'i ...(1 fonh ano\'c withan 10 day!o
<br />of the gIving of notice.
<br />5. Hazard Inlurance~ Borrower ,hall keep the IInprovcmcn.... nn\\" eXIMmg or hc-renner erecled 011 the' Properly
<br />Insured 3gnms1lo~s by firC'. hUl-ards Included "".lthln the term "ell,lended l.'tl\"cragc" and any other hazards for which lender
<br />require:!. in-.urance_ nu~ Insurance shall be mamlamed U1 the: amOUnl!i and for the pemlds that lender requires. The
<br />1Il5UranCe L.nmer pnH'ldlOg the IO~Urdn"e shall be chosen by Borrower \UhJCl.:1 10 Lcnder'!l approval wluch shall not be
<br />unreasollabl~ wllhhcld
<br />All msurance polu':lo and renewals ..hall ~ acceptable 10 l.ender and shall1l1dudc a '!:Itandard mortgage clause.
<br />Lender shall ha'..e the nght to hold the policlo Bnd renewal~. If Lender requlTo. Borrower shall promptly give to lender
<br />all receipts of paid prc:mJUms and rc:nn\'al nollco. In the: event of h)\~. Borrower shall glvC! prompl lIollce to the' Insurance
<br />carner and Lender- Lender may make proof of I~ if not ffimde' promptly by Dorr:1wer,
<br />Unless lender a.nd BOrrO\liC'r OIhe.,.'lsc agrtt 10 \\'ntlOg. In~urance proceed!t shall b4: applied to restoration or repair
<br />of the Propert)' damaged. If the' restomUon or rep:lIr i!l. economically fea~lb)e and Lender's M:Cunty IS nOl les~ed. If Ihe
<br />restoration or repair IS nOI n-onomu;i1Il)" feaSible or Lc:nder'~ secunty \\-'ould be les..~ned. the' insurance proceeds. shall be
<br />applied to the sum~ secured by thl!l. Seeunt)' Ins1rument. whether or not thc-n due. with an)' exc.es.... paid to Borrower. If
<br />Borrower abandons the Propc=rty. or doo n111 answer WUhlO 30 day' a nouce from lender that the insurance "arrier hs!>
<br />offered to seule a claim. then lender may collect the m~umncc procecd~. l~ndcr roB)' UM: the procl..-cd~ to repair or restore.-
<br />the Propcny or to pay sum~ ~ured by tim, Seeunl)' Instrument. whether or Imt then due. The 3D-day period will begin
<br />""hen the notice is gl\'en.
<br />Unles.., Lender and 8orro\\'er otherwl~ agree: 10 ",nung, any applu:auon of procc:eds. 10 pnnclpaI shaH not extend or
<br />postpone (he due date of thC' monthly p3yment!lo rderrrolo In paragraphs I and Z or change the amount of Ihe pll)'menls. If
<br />under paragraph Iq (he Propcny l!l acqulrcd by Lender. Borrower's ngh1 to any insurance policies and proceeds resulting
<br />from daJl'Uge to (he Propcny pnor to the acqUisition shall pass to Lender 1<lthe alent of the sums secured by thIS Security
<br />Inslrument immr:dialely prior to the acquisition
<br />6. Preservation and !\1.inu~n.Dtt of propen)': Leaseholds. Borrower shaJl nol deslTOY, damage nr !ouhslant1all~
<br />change: Ihe Propeny. allow thr Propcn}. to deteriorate or commit wa~I('. If Ihl!. Set."unt~ In~trumenl I~ on a lea~hold.
<br />Borrower shall comply \\ruh the proVlsIOn!l oflhc lease, and If BmTO\H:r acqulTo f~ I1llc: 10 the Prnperl~, lh~ Ica~chold nnd
<br />fee tule shall n01 merge unlo'io Lender agrees. to the merger 10 v..nltOg.
<br />7. Protection nf lender's RIghts in Ihe Propct1)~ !\Iortg&Ke Inlurance. If Borrower fa.l, to perfonn .he
<br />C01,'cnant!l and agreements Ctlnlained in thiS Sccunt)' lnslrumen!. or there l!o a legal proceedmg Ihat may o;.lgOlficnntl~. affecl
<br />LcndC'f'~ rights in Ihe Property (~uch as 3. proceeding. in bankruptcy. prob31C'. for condemnallC1n nr to enforce laws or
<br />regulauon50). Ihen Lender may do and pay for whatC\'er is neces.~ary Itl prote'(:1 the value,of1he Propeny and Lender'!t nghts
<br />to Ihe Propc'ny, 1..-en~r'lo actlons ma)' include payin~ any '!.um!t ~urcd by a he'n which ha..'i pnonty over thIS SecunlY
<br />InslrumC'fU. Olppc.tnng In COunt paying rcnonable attorney"" fees. rmd enh:nng un the Pr()f'lert~' 10 maLe rCp3In.- Although
<br />lender ma)' ta.ke action under this- paragnph 7. Lender dOC!> nol hu"C' w do !on
<br />An)' amounts disbursed by Lender und~r thl\ JUfagrnph 7 ...hall N.'\.'(lmC addI1wnnJ debl nf Borro\!' C'r o,.ecurcd hy I hl~
<br />Sccunt)' Inslrumcnl lln'c:ss BorroVo.er and Lcnd~r I!grtt tn l\thcr te'l'"m'" of payment. lh~c anhlunh ...hall he~r IOter~1 fnml
<br />1he date of dl"bur.emenl at lhC' Nole rate and "hall be pa~lll:1lc-, "11h IOlerc...t urnn l1Otll:C ffllm l.cnde'T It' Btlrnl\\"cr
<br />requntmg p:.I}'mcnt
<br />If l.cnd.er rC'qU1rl:'d monlt3~l: ms.urnncc llli a l,":OndllWn of mlllm!l Ihe l"an 'ot'i;"ured 0\ Ih" Sccunl~ Imuumcnr.
<br />Ik'fTtl"Cr ,hllH p:I~ the prctTl1umr. rcquu'('d 1u mlllntQm Ihe In..uron~C' an effC(.'1 u:lIl1 \.udl IImr 3' Ih" TcqUlrCn1<'nl I,ll Ihe
<br />lIl\.ureanc<" lC'rTTUlUIC'lo 10 llc((Jrdan(.'~ "'l1h norro\\.t'r'~ and LcndC'r', ",-nl1cn a~rt.cmC'nlllf ~Irrh,::lhh: lil'\
<br />M, In..ptelion. I..eni.ler llr ,''' ag.~nl lOa}' male ff'.3\.t1nahtc ("nlnl:' u{l('" ilnd 1Il'~-I;:)n'" ..t thl" P"'pt."lt\ 1",,,1..,
<br />..hall ~1\~ [ItUTlNt'1 ntlha'lll (he- !lmC' of or pnor In n~~~"J'C'ClIcm ~r'Ct:lf...IOJI' rC':I\.nnat'lk (;Hl,r t~lT Ihe 111'1'("1.11,'"
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