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<br />: 88-
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<br />105008
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<br />UNIFORM COVENANTS. Borrower and Lender cIJvenant ond agree as follows:
<br />I. P.ym.nt of Principii and Inl.....I; Prepoym.nt .nd Lat. Ch.rges. Borrower ,hall promplly pay when due
<br />the principal orand interest on the debt evidenced by the NOle and Dny prepayment and lale charges due under rhe NOle.
<br />2. Funds for T.... .nd Insunme.. Subjeclto applicable law or 10 a written waiver by Lender, Borruwer shall pay
<br />10 Lender on Ihe day monlhly paymenls are due under Ihe NOle, unlil the Nole is paid in full. a 'urn ("Fund,") equal 10
<br />one-twelfth of: (a) yearly 10... and assessments which may attain priority over lhis SecurilY Instrumcnl; (b) yearly
<br />leasehold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; ond Cd) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." lender may estimate the Funds due on the
<br />basis orcurrent data and reasonable estimates orfulurc escrow items.
<br />The Funds shall be held in an institution the deposits Of accounts of which arc insured or guaranteed by a federal or
<br />slate agency (including Lender if Lender is such an institution). lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law pennits Lender to make such n charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable Jaw
<br />requires interest to be paid. lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, whhout charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debh to the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Security Instrument.
<br />!fthe amouol oflhe Funds held by Lender. togelher wilh the fUlure monthly paymenls of Funds payable prior to
<br />the due dates of 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 (0 Borrower or credited to Borrower 011 monthly payments of Funds. If the
<br />amount of the Funds held by lender is not sufficienllo pay the eserow items when due, Borrow/?r shall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in fuIJ of all sums secured by this Securily Instrument, Lender shaH promptly refund to Borrower
<br />any Funds held by Lender. Ifunder paragraph Iq the Property is sold or acquired by Lender, Lender shaH apply, no later
<br />than immediately prior 10 the sale of the Property or its acquisition by Lender, any 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 otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: firsl, to late charges due under the Note; second, to prepaymenl charges due under the
<br />Note; third, to amounts payable under paragraph 2: fourth, 10 il1terest due; and Jast, to principal due.
<br />4.. Charges; Liens. Borrower shall pay all taxes, assessments, chargcs, nnes and impositions altribulable to the
<br />Property whkh may attain priority. over this Security Inslrumenl, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in thai manner, Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shaH promplly furnish to Lender all noticcs of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promplly furnish to Lender
<br />receipts evidencing the paymenls,
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrumenl unJess Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the Hen in a manner acceptable 10 Lender; (b) conlests in good
<br />faith the lien by, or defends againsl enforcement of the Hen in, legal proceedings which in Ihe lender's opinion operate 10
<br />preveDI the enforcement of the lien or forfeiture of any part of the ProperlY; or (c) secures from the holder of Ihe Hen an
<br />agreement satisfactory 10 Lender subordinaling the lien 10 this Security Inslrument. If Lender determines Ihat any part of
<br />the Property is subjecl to a Jien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />nolice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />5, Hazard Insurance. Borrower shall keep the improvemenls now exisling or hereafter erected on the Property
<br />insured against loss by fire, hazards induded within the term '.extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shan be maintained in the amounts and for the periods thai lender requires. The
<br />insurance carrier providing the insurance shan be chosen by Borrower subjecl to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable 10 Lender and shall include a slandard mortgage clause.
<br />Lender shall have the righllo hold the policies and renewals. If Lender requires, Borrower shall promplly give to Lender
<br />all receipts of paid premiums and renewal nOlices. In the event of loss, Borrower shaH give prompt nOlice 10 the insurance
<br />carrier and Lender. Lender may make proof orloss if not made promplly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied 10 restoration or repair
<br />of the Propeny damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Inslrumenl, whether or not then due, with any excess paid 10 Borrower. If
<br />Borrower abandons Ihe Propeny, or does not answer within 30 days a nOlice from Lender that the insurance carrier has
<br />offered to settle a 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 Ihis Security Inslrument, whether or not then duc:. The 30-day period will begin
<br />when the nOlice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of lhe payments. If
<br />under paragraph 19 Ihe Propeny is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pas!'i to Lender to the extent oflhe sums secured by this Securily
<br />Inslrument immedialely prior to lhe acquisition.
<br />6. PresenatioD and Maintenance ofPropeJ1f; Leaseholds, Borrower shall not dotm)". damage or !tubstantiaJJy
<br />change the Property, allow the Property to deteriorale or commit waste. If this Security Instrument is on 11 leasehold,
<br />Borrower shall comply with the provisions orthe lease. and if Borrower acquires fee title to the: Property, Ihe lea.'iehold and
<br />fee title shall nOI merge unless Lender agrccs to the merger in wriling.
<br />7. Protection of under'. Rights in tbe Property; Mortgage Insurance. If Borrower fails 10 perform the
<br />CO\'enant5 and agreements contained in Ihis Security Instrument, or there i!o Il legal pmceedmg thai may sil;nifican1Jy affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate. for condemnullnn or to enforce Jaws or
<br />regulations). then Lender may do and pay for whatever is necessary 10 protect the value of the Prnpcrly and LendC"r'~ right:;
<br />in the Property. Lender's actions may include paying any sums sccurec.l by a hen which ha!!. pnority m.er this Secunly
<br />Instrumenl, appearing in court, paying reasonable atlomeysO fees and entering on the Property to make repain.. Although
<br />Lender may lake aclion under this paragraph 7, Lender does nol have 10 do 50.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become nddllHmal debt of Btlrmwer !oecured by thl"
<br />Security Instrument. Unless Borrower and Lender agree 10 other terms ofpaymc:nl. Iht'!oe amounl.. ..hall hear tntere-.I from
<br />Ihe date of disbunement al the Not<> rate and shall he payable. wllh tnter~l. upon n(lllcC' from Lender tll Allrm\H'r
<br />requestmg paymcnI.
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