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<br />UNIFOIIM COYENAN1ll. Borrower and Lender covenintand agree as Follows:
<br />I. ...,.... of PrIoelpal ud Inlera!; Prepaymenl and La'e Cha'll'" Borrower shall promptly pay when due
<br />lhe principal of and interest on Ih.debl.videnced by the Note and any prepaymenl and late charges due under the Note.
<br />2. Fa..... for T.....ud IDlUran... Subjecltoapplicablelaw Orlo a wrinen waiver by Lender, Borrower shall pay
<br />10 Lender on Ihe day monthly payments are due under lhe Note, untillhe Note is paid in full, a sum ("Funds") equal 10
<br />onNwelf\h of: (a) yr.arly taxes and assessments which nlay attnin priority over this Security Inslrument; (b) yearly
<br />Ic:uehold paymenlS or ground rents on Ih. Property, if any: (.) yearly hazard insurance premiums; and (d) yearly
<br />mongqc in.urance pmniums, if any, These items are called "escrow items," Lender may estimale the Fund. due on Ihe
<br />basi. of currenl data and reasonable estimates Offuture escrow items,
<br />The Funds shall be held iD an institution the deposits or accounts of which are insured or guaranleed by a federal or
<br />lItIte qency (including Lender if Lender is such an institution), Lender shall apply Ihe Funds to pay Ihe escrow it.ms.
<br />Lender may Dol .harge for holding and applying the FUDds, analyzing Ih. accounl or verifying th. escrow items, unless
<br />Lender pays Borrower Inleresl on Ihe Funds and applicable law pennilS Lender 10 make such a .harge. Borrower and
<br />Lender may agree io writing Ihat inleresl shall be paid 00 Ih. Funds, Unless an agreem.nl is mad. or applicable law
<br />requires inlerestlo be paid, Lender shall not be required 10 pay Borrower any int.rest or earnings on the Funds, Lender
<br />shaU give to Borrower. wilhout charge, an annual accounting of the Funds showing credits and debits to th. Funds and the
<br />purpose for whi.h each debil to the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Security IlIIlnIment. '
<br />Iflhe amount ofth. Funds held by Lender, together with the fUlure montbly paymenlS of Funds payable priOrlO
<br />th. due dales of lh. escrow items, shall exceed tb. amount required to pay tbe escrow ilems when due, th. e....s shall be,
<br />at Borrower's option, either pl'Omptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount oflhe Funds held by Lender is nOI sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br />amount necessary to make up tb. deficiency in one or more paymenlS as required by Lender,
<br />Upon payment in full of all sums secured by this Securily Instrument. Lend.r shall promptly refund 10 Borrow.r
<br />any Funds beld by Lender, Ifunder paragraph 19the Property is sold or acquired hy Lender, Lender sballapply, no lat.r
<br />than immediately prior 10 the saI. of th. Propeny or ilS acquisition by Lender, any Funds beld by Lender Bltbe time of
<br />applicatioD as a credit againslthe sums secured by this Securiiy IDstrument.
<br />3. ApplloaIIOD of Pa)'lllellls. Unless applicable law provides otherwise. all paym.nts received by Lender uDd.r
<br />paragrapbs I and 2 sba1J be applied: first, 10 Iale charges due under the Note; second. 10 prepaymenl charges due UDder Ih.
<br />Note; lbinl,loamoUDts payable under paragraph 2; fourth, to iDteresl due; and last, to principal due,
<br />of. ~ U..... Borrower sba1J pay a111JlJ.es, assessments, cbarges, fines aDd impositions attributable to lh.
<br />Property which may attaiD priority, Over this Security Instrument, and leasehold paymenlS or ground rents, if any,
<br />Borrower shaU pay these obligations in the JIUIJU1er provided in paragraph 2, or if not paid in thai mann.r, Borrower sball
<br />pay them on tim. directly to th. person owed paymenL Bonnw.r shall promptly furnish 10 Lend.r all noti... of amouDlS
<br />to be paid under this paragrapb, If Bonnwer makes Ihese paymenlS directly, Borrower shall promptly furnish ro Lender
<br />receipts evideDeing the payments.
<br />Borrower shaU promprly disebarge any lien whicb bas priority ov.r this Security Instrument unless Borrower: (a)
<br />- in writing 10 lb. payment of lbe obligation secured by the lien in a manner acceplable to Lender; (b) cODleslS in good
<br />failb tbelien by, or ddends against mForcement oftbelien in, legal proceedings wbich in the LeDder's opinion operaleto
<br />prevent the enrorcement or the lien or forFeiture of any pan or the Property; or (c) secures from lbe holder of the lien an
<br />agreementlllisflCtory 10 Lender subordiaaliDg lh.lien to Ibis Security Instrument. If Lender determines that any pan of
<br />Ihe Property is .ubja:t 10 a lien wbich may attain priority over this Security Instrument, Lend.r may give Borrower a
<br />notice ideDtifying th.lien. Borrower sball satisfY the lien or take one or more of tbe "lions sel fonb above wilbin I') days
<br />of lb. giving of notice.
<br />5. Hazard ~ Bonnwer sba1J keep tbe improvemenlS now existing or herean.r erected on lb. Property
<br />insured against lost by fire, hazards iDcluded witbin lb. term "ex1eDded coverag." and any olh.r hazards For which Lender
<br />requires inIurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providiDg th. insurance sball be chosen by Borrower subject to Lend.r's approval wbicb sball not be
<br />unreuonably withheld,
<br />AU insurance policies and renewals shall be acceptable to Lender and shall include a standard mongage clause
<br />Lender IbaU hav.th. rishtlo bold the policies and renew.... If Lender requires, Borrower sball promptly give 10 Lend.r
<br />all receipts of paid premiums and renewal Dolices. ID lbe eveDt or lost. Borrow.r shall giv. prompt nOlice to tbe insurance
<br />carrier and Leader. Lender may make proor oflost if DOt mad. promplly by Borrower,
<br />Un1a5 Lender and Bonnwer otbeowise agree iD wriling, insurance proceeds shall be applied to restoralion or repair
<br />of th. Property damaged, if the restoratioo or repair is economically feasible and Lender's securilY is not I....ned, If tbe
<br />....toralion or repair is DOl economically feasibl. or Lender's secUrily would be lessened, Ihe insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, wbc:1ber or nOlthen due, wilb any e....s paid to Borrow.r. If
<br />Borrower abandont lbe Property, or does not answer within 30 days a notice from Lender lhalthe insurance carrier has
<br />olI'_ to oett!e a claim,theD Lender may colleclthe insurance proceeds, Lenl!er may use the proceeds 10 repair or restore
<br />lbe Property or to pay SUIDI secured by thi. Security Inslrument, whether or DOllhm due. Th. 3O-day period will begin
<br />",heD theDotice is JiVeD.
<br />Unless Leader and Borrower otherwise agree in writing, any application of proceeds 10 principal shall nol extend or
<br />postpone the due dale of the monlhly payments referred to in paragrapbs I and 2 or changeth. amount of the paymenlS. If
<br />under paragrapb 19 the Property is acquired by Lender, Bonnwer's righlto any insurance policies and proceeds resulting
<br />from damage to the Property prior 10 lbe acquisition shall pass to Lender to lh. e"ent of Ih. sums secured by this Security
<br />InslrumeDl immediately prior to lb. acquisition,
<br />6. ~0Il"" MaIa-..ce of Propajr. Leuebolda. Borrow.r shall not deslroy. damage or substantially
<br />change tb. Property, allow the Property 10 deteriorate or commil WlSte. If Ibis Security Inslrument is on a I....hold.
<br />Borrower shall comply with th. provisions of th.l..... and if Borrower acquires ree title 10 Ihe Property. Ihe I....hold and
<br />f...titleshall IlOl_ unJeu Lender _to lhe merger iD writiDg,
<br />7. ~ of Lader'a I118bIa ID the ~ Mortp&e IDlUrance. If Borrower fails to perform 'he
<br />COYen&Db and Ap'eCD1e11l1 wu.tained in tbis Security Inslrumen4 or there is a legal proceeding that may significanlly affect
<br />!..eader', npas in the Property (such U . proceedins in bankruptcy. probate. for condemnation or to enforce laws or
<br />repIa1iDns). then Leader may do and pay for whalever is Decessary 10 prolect th. valu. of the Property and Lender's rights
<br />in the Property. Lender"s actions may include paying any sums secured by a lien which has priorily over Ihis Securily
<br />Iasrrumeat, appearinl in court, paying reuDaable al1omey.' fees and entering on Ihe Propeny to make repairs, Although
<br />Lender may take ac1ion under this paragrapb 7, Lender does DOl have 10 do so,
<br />Any amoun15 disbuned by Lender under Ihis paragrapb 7 .haIl become additional debl of Borrower secured by ,hIS
<br />la:urity Instrument. Unleu Borrower an.:J lender Alree to other tenns or paymenl. these Imounts shall bear inlcrcs1 from
<br />the dale of dilbunanent II the Note rate and shall be payable. wilh interesr. Qpon notice from Lender 10 Borrower
<br />requsciDa payment,
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<br />88-104882
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