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<br />88-
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<br />105005
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<br />UNIFORM COVENANTS, Borrower and Lender covenanl and ogr.. as follows:
<br />1. PQment of PrIncipal &lid Interal; Prepayment and Late Cha'll'" Borrower shall promplly poy w~en due
<br />Ihe principal of and inlerest on the deblevideneed by the NOleand any prepaymenl and lote chorges due under Ihe NOle,
<br />~ Funda for Ta...ud Insuran... Subjeclto applicable low or 10 0 wrillen waiver by Lender. Borrower sholl pay
<br />10 Lender on the day monlhly p"yments are due under the NOle, unlllthe NOle Is pold in full, 0 sum ("Funds") equal 10
<br />one-lwelfth of: (a) yearly taICs and assessments which may allain priorily over this Security InSlrumenl; (b) yearly
<br />leasehold payments or ground renlS on the Propeny, if any; (c) yearly hazard insurance premiums; and (d) yeorly
<br />monPlle insurance premiums. if any, These ilems are called "escrow items." Lender may estimate the Funds due on the
<br />basis of CUlTCllt data and reasonable estimates OrrUIUre escrow items.
<br />The Funds shall be held In an institution the deposits or accounts of which are Insured or guaranleed by a federal or
<br />state agency (including Lender if Lender is such an illStitulion). Lender shall apply Ihe Funds 10 pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying Ihe escrow items, unless
<br />Lender pays Borrower inlerest on the Funds and applicable law pcnnits Lender to make such a charge, Borrower snd
<br />Lender may agree in writing thaI interest shall be paid on the Funds. Unless an agreement is mode or applicable law
<br />requires interest to be paid, Lender shall nol be required to pay Borrower any interesl or earnings on Ihe Funds. Lender
<br />shall give to Borrower. without charge. an annual accounting oflhe Funds showing credhs and debits to the Funds and the
<br />purpose for which each debit to the Funds was made, The Funds sre pledged as addillonal securilY for Ihe sums secured by
<br />this Security 111StrumenL
<br />Hthe amounl of the Funds held by Lender. together with lhe future monthly payments of Funds payable prior to
<br />the due dates or 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 nol sufliclenllO pay the escrow items when due, Borrower shall pay 10 Lender any
<br />amount nec:usary 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 shan promptly refund to Borrower
<br />any Funds held by Lender, If under paragraph 19 lhe Property is sold or acquired by Lender, Lendershanapply, no later
<br />than immediately prior 10 the sale of the Property or its acquisition by Lender, any Funds held by Lender allhe time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Appllcalloa of Paymen", Unless applicable law provides olherwise, all payments received by Lender under
<br />paragraphs I and 2 shaD be applied: first, to late charges due under the Note; second, 10 prepayment charges due under the
<br />Note; third. 10 amounts payable under paragraph 2; fourth, 10 interest duc; and lasl, 10 principal due.
<br />4. CIw1IeI; Utm. Borrower shaD pay all taxes, I15SCSSments, charges, fines and impositiollS auribU18ble to lhe
<br />Property which may attain priority,over this Security IlIStrumenl, and leasehold payments or ground rmts, if any,
<br />Borrower shaD pay these obligations in the manner provided in paragraph 2, or if not paid in lhal manner, Borrower shall
<br />pay them nn lime din:clly to the penon owed paymenL Borrower shall promplly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes Ihese payments directly, Borrower shall promptly furnish 10 Lender
<br />rccoipts evidencing the payments.
<br />Borrower shaD promplly discharge any lien which has priority over this Security InSlrumcnt unless Borrower: (a)
<br />apees in writing 10 the paymmt of the obligation secured by the lien in a manner acceptable 10 Lender; (b) conlCSls in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operale 10
<br />prevent the enforcement of the lien or forfeiture of any part of Ihe Property; or (c) llCCures from lhe holder of the lien an
<br />agreemenlutisf..,lory 10 Lender subordinating the lien to Ihis SecurilY In5lrument. If Lender determines thai any part of
<br />the Propcny is subject to a lien which may attain priority over this Securily 1nslrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisry the lien or take one or more of the actions set forth above within 10 days
<br />of the givingofnolice,
<br />5. Huard laau.raDCe. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />in...red against 105!l by fire, hazards included wilhin thelenn ....Imded coyerage" and any olher hazard. for which Lender
<br />requires insurance. This insurance shall be maintained in tbe amounts and for the periods thai Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject (0 Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include I standard mortgage clause.
<br />Lender shall havelhe righlto hold the policies and renewals, If Lender requires, Borrower shall promptly give to Lender
<br />all rccoip15 of paid premiums and rmewal noti.... In Ihe evenl of 105!l, Borrower shall give prompl notice 10 the insurance
<br />carrier and Lender, Lend., may make proof oflO5!l if not made promptly by Borrower,
<br />Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall be applied 10 restoration or repair
<br />of the Propcny damaged. if lhe resloration or repair is economically feasible and Lender's llCCurily is nOllessened, If the
<br />rcatoratioo or repair is nol economically feasible or Lender's security would be !c:sscned, the Insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. If
<br />Borrower abandons the Propeny, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />otrered to settle . claim. then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Propeny or to pay sums secured by this Securily Instrument, whether or nol then duc. The 3D-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or
<br />postpollC: the due dale of the monlhly payments referred to in paragraphs I and 2 or change the amounl of the payments. If
<br />UDder parapaph 191he Property is acquired by Lender, Borrower's righllO any insurance policies and proceeds resulling
<br />from cIamqc to the Property priorto the acquisition shall pass 10 Lender 10 the ..tenl of the sums secured by this SecurilY
<br />Instrument immediatdy prior to the acquisilion.
<br />6. Pn:lenatloa ad MaiatelWtCe of Propajr; Leueholdl. Borrower shall not, destroy, damage or substantially
<br />c:1Jan&e the Property, allow the Property to deteriorate or commit waste. If this Sccunty Instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Property. the leasehold and
<br />fee title shall nol merse unless Lender apees 10 lhe me'JCl' in writing,
<br />7. PnncctIOII of LcacIcr'. Rip.. ta the Property: M._ Insurance. If Borrower f.ils to perform lhe
<br />covenanb and qrccmmt5 contained in this Security Instrument. or there is a legal proceeding that may significantly affect
<br />i-""'~s riahts in the Propeny (sucb as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />~tions). then Lender may do and pay for whatever is necessu)' to protect the .....Iue of the Property and Lender's rights
<br />ill the l"a"'tJlPUly. Lender', actions may include paying_DY sums secured by a lien which has priority over this Security
<br />Instrument. .ppcarinl in coun. paying reasonable attorneys' fees and entering on the Propeny (0 make repalA. Allhaugh
<br />Lendr;r II1IIY ~c action under this paragraph 7. Lender does nol have 10 do so.
<br />A.ny amO\lo:ttl. diibuned by Lmdu under thi.1 paralfaph "7 shall become additional debt of Borrower secured by thiS
<br />Secllnty Instrument. ~ Inleu Borrower and Lender agree 10 other ICons of payment. these amounts shall bear mll!resl from
<br />the dale of dilbuncmeh~ al the Note rate and shall be payable. wuh mterest. upon notIce from Lender 10 Borrowrr
<br />req\MStlnl paymmt
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