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<br />. .. I
<br />'~'8a':'" "'104996
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<br />UNIFORM COVENAN1'S, Dorrowor and Lendoreovcnant and agree as rollows: ~1)l OW'M)
<br />I. Payment of Prloolpal ond Inlcresl; Prepaymenl and I.ole Chorge.. Borrower shall promptly pay whon due
<br />the principal of and interest on tbe debt evidenced by the Note and ony prepayment and lutcchnrgcs due under the Note.
<br />2. "'unds ror Taxes and Insurance. Subject to applicable Inw or to a wrinen waiver by Lender. Borrower shull pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is pnid in rull. u sum ("Funds") equnllo
<br />one-lweJOh of: fa) yearly tnxes nnd u5sessments which mD)' allain priority over this Security Instrument; (b) yearly
<br />leasehoJd payments or ground rents on the Propeny, if any; (c) yearly hazard insurance premiums; and Cd) )'enrly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate Ihe Funds due on the
<br />basis of current dara and reasonable estimales offulUrc escrow irems.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or p;uuranleed by a federal or
<br />state: agency (including lender if lender is such an institution). Lender shall apply Ihe Fund~ to pay the escrow hems.
<br />Lender may nol charge for holding and applying the Funds, analyzing the account or verifying the escrow hems, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender (0 make such a charge, Borrower and
<br />Lender may agree in writing Ihat interest shall be paid on the: Funds. Unless an agreement is rnude or applicable law
<br />requires interest to be paid, Lender shan not be required to pay Borrower nny interest or earnings on the Funds. Lender
<br />shall give 10 Borrower, without charge, an annual accounting of the Funds shnwing credits and debit!' to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds arc pledged as addil innlll security for the sums s~llfcd by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender. together with the future mOlllhly payments nfFunds payable prior to
<br />the due dates of the escrow items, shall exceed th~ amount required 10 pay the escrow Item!\ when due, the excess shall be,
<br />at Borrower's option, either promplly repaid to Borrower or credited 10 norcower on Illonthly paymenls of Funds. If the
<br />amoun. of the Funds held by Lender is not sufficient to pay the escrow item~ whcn due. Borrower s~all pay to lender any
<br />amount necessary to make up the deficiency in one or more payments a.... required by Lender.
<br />Upon payment in full of all sums secured by this Security Inslrumenl. Lender shall promptly refund to Borrower
<br />any Funds held by Lender. Ifunder paragraph 19 the Property is sold or acquired hy Lender, Lender shall apply, no later
<br />than immediately prior to the sale of the Property or its a(.'quisition by Lender, Ilny Funds held by lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. ApplIcation of Payments. Unless applicable law provides othenvi~e, all payments receivl.>d by Lender under
<br />paragraphs I nnd 2 shall be -applied: first, to lure charges due under the Note: second, 10 prepayment charges due under the
<br />NOle; Ihird,lo amounls payable under paragraph 2; fourth, to interest due; and last, to principal duc.
<br />4. Charges; Liens, Borrower shall pay aU taxes, assessments. charges, fines and impositions attributablc to the
<br />Propeny which may attain priority over this Security Jnstrument. and leasehold payments or groulld rents, if un}'.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or ifnOl paid in that munner. Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall prompt I) furnish to Lender all nOlices of amounts
<br />10 be paid under this paragraph. If Borrower makes these payments din..-clly. Borrower shall promptly Curnish w Lendcr
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Securil)' Instrumcnt unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by thc lien in 11 manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends againsl enforcemenl of the lien in, legal procceding!\ which in the Lender's opinion operate to
<br />prevent the enforcement of Ihe lien or forfeiture of any pari of the Propert}'; or (c) secures from the holder of thc lien all
<br />agreement satisfactory 10 Lender subordinating the lien 10 Ihis Security Inslrument. If lender determines that any part of
<br />Ihe Property is subject 10 a Hen which may allain priority over thi!l Security Instrument, Lender may give Borrower 11
<br />nolice idenlifying the lien. Borrower shall satisfy the lien or take one or more of the actions sel forth above within 10 days
<br />of the giving of notice.
<br />5, Hazard Insurance. Borrower shall keep Ihe impf~I\'eml:l1b now cxiMing ur hen:aftt'T erecled un the Propcrt)
<br />insured against loss by fire. hazards included wuhin the temt "cAtendcd coverage" and any other hazards for which Lender
<br />requires insurance, This insurance shall be maintained in the amounts nnd for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen hy Borrower subject to Lender's approval which shall not bc
<br />unrcasonobly withheld,
<br />All insurance policies and renewals shall be: acceplnble to Lender and shull include tI stundard mortgage clnu:-.e.
<br />lender shall ha..'c: the right to hold tht' p<.llicies nnd renewnls. If Lender require... Borrowcr shall promplly give to Lender
<br />all receipts of paid premiums and rcnt'wal notices.. In the event of loss. Borrower shall gi\.c prompt nntice to Ihe insurance
<br />carrier and Lender. Lender may make proof ofloss if not made promptly by norrower.
<br />Unless Lender and Borrower olherwise agree in writing, IOsurunce proceeds !>hall be applied 10 restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security i!> not IL-s..cned. If the
<br />restoration or repair is nOI economically feasible or Lender's, securily would be les!>enro. the in!>urancc pmct.-c:d!> shull bt:
<br />applied to the sums secured by lhis Security Jnstrument. whether or not then duc. with any cxces.~ paid to Borrower. If
<br />Borrower abandons the Property. or does nol answer .....ithin 30 days a notice from Lender that Ihe insurance carrier ha~
<br />offered to seltle i1 claim, then lender may collect the insurance proceeds. lender moy use the proceeds In repair or restore
<br />th... Propeny or to pay sums secured by this Security Instrument. whether or not Ihen due. The J(l,tlu)" pcrit)(j will begin
<br />when the tJ.::!ice is given.
<br />Unless Le.Aer and Borrower otherwi!\C' agree in wri[ing. an)' Bpplicatilm ofpnlCccd.. [I) princlplll ~hall nOI c.\tctld (Ir
<br />postpone the due date 0fthe: monthl)' paymclIls referred to in paragraphs 1 and 2 or change Ihc amount nflhc puymt.:'flt't- If
<br />under paragraph 19 the PI0oct1y is acquired by Lender, Borrower's right to any in!lurance policiL~ and proceeds rc:sulting
<br />from damage II,) the Propeny p-:ior to the acquisition shall pass to Lender (0 the eAtent of the sum" 'cclIred by thi:-. Security
<br />Instrument inlmediately prior to tll~ acquisition.
<br />6, Praen,lltion and MalntelUll....ooe of Property; Leaseholds. Borrower ..hallIHH dC'lft\~. d:IIIl"!!-~ nr ,uh..lanll:llly
<br />change the Property, allow the Property tb cicteriorate or commit waste. If 1111~ SC'CUfll) In..trumenl I~ till ,I IcuM:hold.
<br />Borrower shall comply with Ihe provisions of the :~, and if Borrower acquiro fee 11l1c In the I'r'lpcrly. Ihe ICi1!1c:hoJd and
<br />fee title shall not merge unless Lender agrees 10 the merJs,~~ in writing.
<br />7. Protection or Lender's Rights in the Property; ttiii:'!~alt Insurance. If BtlfW\H'r filii, to pcnllrm the
<br />COVCDants and ag.rccmenls contained in this Security Instrument, or (here i: ~ legal rrocecdm~ Ih:lIl11n~ 'Ip,nifkilllll~ affect
<br />Lender's rights in the Propcny {such as a proceeding in bankruptcy, probate, f:'f condCmn.llllllll nr III enforce law.. or
<br />Tegul.;.tions), Ihen lender may do and pay for whatever is neccssar)' to prolIXllhc \.-alue ,..r tilt.' Prnpa:rt) ilnd Lender'., Tight~
<br />in Ihe Property. Lender's actions may include paying any sums secured b}' a liC'n winch i,~" rnnrll~ (l\Lor thi!'> Secunty
<br />Inslrumenl. IIppcaring in court, paying reasonable attorne)"~' fees. and enlenng nn the l.fIlflt.'fl~ h. .,lill..c repair.. Although
<br />Lender may take action under this. paragraph 1, Lender docs nol hU\"C' to do 50
<br />Any amounti disbuf'5C'd by lender under this paragraph 7 shall ~ome additional dd)1 uf !Jonn.... t." ,,<('ured h~ Ihi~
<br />Seeunl)' Jn~lruDlenl. Unless Dorro,,;er and Lender agret' to othC'r term!> of pil}'mcnl. Iht"'lt.' amuunt" !ihnll hear m:"Tl...1 ffllm
<br />the dale or dh,buncmenl al rhe Nolc rale and ~hall he payahle, wilh inlcrC\l, urnn nollcc from Lcmler 10 Uu. rll\\L"'
<br />rcqueiling payment
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