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<br />88- 105183
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<br />UNIFORM COVENANTS, Borrower Ind Lender CDvenlntlnd Igr.., as follows:
<br />I. Paymeat of PrIncipal ...d Interal; Prepa)'lllent ...d Late Cb...... Borrower shan promptly pay when due
<br />Ihe principal of and inten:st on Ihe debt evidenced by Ihe Note and Iny prepayment and Ille charg.. due under the Note,
<br />:z. FaDdafor TUOIud lnau......,. Subjecllo Ipplicablellw or to a written waiver by Lender, Borrower shill PlY
<br />10 Lender on the day monlhly payments In: due under the Note, untllthe Note Is paid In full, a sum ("Funds") equal 10
<br />one-lwe1l\/t of: (a) yearly tax.. Ind as....ments which mlY atlOin priorilY over this SecurilY Inslrument; (b) yearly
<br />I....hold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiuml; and (d) yearly
<br />~ insurance premiums, if any, These Items Ire called "escrow items," Lender may estimate the Funds due on the
<br />basisofeurrcnt data and rcasonlble estimates offutureescrow items.
<br />The Funds shall be held in In institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such... Institulion), Lender shall apply the Funds to pay the escrow items.
<br />Lender may not ehlrge for holding and Ipplying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower Interest on Ihe Funds ...d Ipplicable law permits Lender 10 make such a charge. Borrower ...d
<br />Lender may agree in writing that int.....t shall be paid on the Funds, Unless an agreement is made or applicable law
<br />rcquin:s intereSlto be paid, Lender shall not be required 10 pay Borrower any interest or earnings on the Funds, Lender
<br />shall give 10 Borrower, without charge, an annual accounting of the Funds showing credits and dehits to the Funds and lhe
<br />purpose for which each dcbilto the Funds was mlde, The Funds are pledged as additional security for the sums secured by
<br />this Security Instrumenl, .
<br />Iftheamounl of the Funds held by Lender, logether with Ihe future monthly payments 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 Bcrrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds, If the
<br />amount of the Fonds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay 10 Lender any
<br />amoont necessary 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 shall promptly refund \0 Borrower
<br />any Fonds held by Lender, Ifunder paragraph 19 the Property is sold or acquired by Lender, Lender shall apply. no liter
<br />than immediately prior \0 the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application ~ a credit against the sums secured by this Security Instrument.
<br />3. AppUcalioa of Paymen.... 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, 10 prepaymenl charges due under Ihe
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due,
<br />4. 0w1lea; Li..... Borrower shall pay aIIl1Xes, assessments, charges, lines and impositions attribulOble to the
<br />Property which may attain priority, over this Security Instrument, &rid 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 thlt manner, Borrower shall
<br />pay them on lime directly \0 the person owed payment, Borrower shall promptly furnish 10 Lender all notices of amounts
<br />to be paid under this paragraph, If Borrower makes these payments directly. Borrower shall promptly furnish 10 Lender
<br />..,..;pts evidencing the payments,
<br />Borrower shall promptly discharge any lien which bas priority over Ihi, Security Instrumenl unles, Borrower: (a)
<br />agrees in writing \0 lbe payment ofthe obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith me lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender', opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any plrt of the Property; or (c) secures from the holder of the lien an
<br />agreemcntsatisfaclOry 10 Lender subordinating the lien to this Security Instrumenl. If Lender determines thlt any part of
<br />the Property is subject \0 I lien which may attain priority over this Security Instrument, Lender may give Borrower I
<br />notice identifying lbe lien. Borrower shall satisfy the lien or lOke one or more of the actions set forth lbove wilhin 10 days
<br />of the giving or notice.
<br />S~ HazardlDsurance. Borrower shall keep the improvements now existing or hereafter erecled on the Property
<br />insured aglinslloss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />onrcuonably withheld,
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mongage clause.
<br />Lender shall hive tbe right to hold the policies and renewals, If Lender requires, Borrower shall promptly give to Lender
<br />all ..,..;pts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance
<br />carrier and Lender, Lender may make proof of loss if not made promptly by Borrower,
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the r..\Oration or repair is economica1ly feasible and Lender's security is not lessened. If the
<br />restoration Dr repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shill be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid 10 Borrower, If
<br />Borrower abandons tbe Property. or does not answer within 30 days a notice from Lender thaI the insurance carrier has
<br />oII'crcd to settle a clairr~ then Lender may coDed the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument. whether or nOI then due, The 3D-dIY period will begin
<br />when thcnotice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds 10 principal shall not extend or
<br />postpone lbe due dale of the monthly payments referred to in paragraphs I and 2 or chlnge the amount of the payments, If
<br />under paragrapb 19 the Property is acquired by Lender. Borrower's righlto any insurance policies and proceeds resulting
<br />from damage to the Property prior to tbe acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrumenl immediately prior 10 the acquisition,
<br />6. Preaenalion ud Mainl....... of ProperJr. Uaaebolds. Borrower ,hall not destroy. damage or substantially
<br />change the Property, allow the Propcny to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br />Borrower sball comply with the provisions of the lease. and if Borrower acquires fee title to the Properly. the leasehold and
<br />reetitleshall not merge unleu Lender aBrees to the muSer in writing.
<br />7. ProtKtIon or Lader'. Rip.. In lb. Property; Mo,,- lnaurancc. If Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument. or there if; a legal proceeding that may significantly affect
<br />Lender's rights in the Propeny (such as a proceeding in bankruptcy, probate. for condemnation or to enforce laws or
<br />rqulaliona), then Lender may do and pay for whatever i. necessary to protectlhe value of the Proper1y and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Seeurity
<br />Iastrumenl, appearing in court, paying reasonable Illorncys' fees and enlering on Ihe Property to make repairs. Although
<br />Lender may take action onder this paragraph 7, Lender does nol have to do so,
<br />Any amounts disbursed by Lender under this paragraph 1 shall become additional debt of Borrower secured by this
<br />Security Il15lrumeRL Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable. with intert'St. upon notice from Lender to Borrower
<br />requesting payment,
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