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<br />88- '105185
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<br />UNIFORM CoVENANTS. Borrower Ind Lender co.enlntlnd Igree as follows:
<br />I. PII)'IDenl of PrIncipal and Inleral; Prepayment and Late CbllJlU. Borrower sball promptly PlY when due
<br />the principal of and interest on Ihe debt.videnced by Ihe Note and any prepaymenl Ind lale charges due under the NOle,
<br />2. fundi for T..... and lnaurance, Subjecl to applicablellw or 10 a ..rinen ,,"iver by Lender, Borrower shall PlY
<br />to Lender on the dlY monlhly payments are due under the Note, unlilthe Note is plld in full, a sum ("Funds") equal 10
<br />on..t....fth of: (I) yeerly tlltes Ind IlSSeSSments which may anain priorily over this Security Inslrument; (b) yeerly
<br />leesebold payments or ground rents on the Property, if any; (c) yeerly hazard insurlnce premiums: and (d) yearly
<br />monpge insurance premiums, if any. These items are called "escrow items," Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimlleS offuture escrow items,
<br />The Funds shall be held in an institution the deposits Dr accounts of..hich are insured or gUlranteed by a federal or
<br />state agency (including Lendet' if Lender is such an institution), Lender shill apply the Funds to pay the escrow items.
<br />Lender may not chl'lle for holding and applying lhe Funds, analyzing the account or verifying Ihe escrow items, unless
<br />Lender pa)'ll Borrower interest on the Funds and Ipplicable law permits Lender 10 make such a charge, Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any inlerest or earnings on the Funds, Lender
<br />shall giv.to Borrower, without chlrge, an annual accounting of the Funds showing credits and debits to the Funds end the
<br />purpose for which each dehitto the Funds was made, The Funds are pledged as additional security for the sums secured by
<br />this Security Instrument,
<br />If the amount of the Funds held by Lender. together wilh the future monthly payments of Funds payable prior 10
<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 />It Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds, If Ihe
<br />amount of the Funds held by Lender is not sufficient 10 pay the escrow item, when due, Borrower 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 full of all sums secured by Ihis Security Instrument, Lender shall promplly refund to Borrower
<br />any Funds held by Lender, If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior 10 the sale of Ihe Property or its acquisition by Lender, any Funds held by Lender althetime of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Paymenta. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: filSt, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last. to principal due.
<br />4. Charges; Uena. Borrower shall pay all taxes, IlSSeSSments, charges. fines and impositions anributable to the
<br />Properly which may attain priority,over this Security InBlrument, and l....hold payments or ground renls, if any,
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay Ihem on time directly to the person owed paymenL Borrower shall promptly furnish to Lender all notices of emounts
<br />to be paid under this paragraph. If Borrower makes these paymenls direclly, Borrower shan promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedinga which in the Lender's opinion operate to
<br />prevent the enfon:emenl of the lien or forfeiture of any pan of tbe Property: or (c) secures from the holder of the lien an
<br />Igreementsatisfactory to Lender SUbordinating the lien to this Security InstrumenL If Lender delermines thot any pan of
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or mOTe orthe actions set forth above within 10 days
<br />oftbe giving of notice. .
<br />5. Huard lnauranee. Borrower shall keep the improvements now existing or hereafter erected on the Propeny
<br />insured against Joss by fire. hazards included within the term .'extcnded 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 />unreasonably withheld,
<br />AU insurance polici.. and renewals shall be acceptable to Lender and shan include a standard mortglge clause,
<br />Lender sbaII hav.the right to hold the policies Ind renewals, If Lender requires, Borrower shall promplly give 10 Lender
<br />all receipts of paid premiums and renewal notices, In the event of lOSS, Borrower shall give prompt notice to Ihe insurance
<br />carrier and Lender, Lender may make proof ofloss if not mlde promplly hy 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 restoralion or repair is economicany 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 10 the sums secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. If
<br />Borrower abandons the PropenYl or does not answer within 30 days a noEice from Lender that the insurance carrier has
<br />oI'ered to settle a claim, f~en Lender may collect the insurance proceeds. Lender may use the proceeds to repair Of restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then dUe, The 3().day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrowt:r otherwise agree in writing, any application of proceeds to principal shalJ nol extend or
<br />poslponethe due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments, If
<br />under pangraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resuiling
<br />from damage to the Property priono the acquisition shall pass to Lender to the extent of the sums secured hy this Security
<br />Instrument immediately prior 10 the acquisition,
<br />6. Preae""tlon and MaIntenance ofProperJ&'; Leueholdl. Borrower shall nol deslroy, damage or ,ubstanlially
<br />chanlc the Propeny, allow the Propeny to deteriorate or commit waste. If this Security Instrument is on a leasehold.
<br />Borrower sbalJ comply with the provisions of the lease. and if Borrower acquires fee title to the Property. the leasehold and
<br />fee title sb.11 not merge unless Lender Blree5 to the merger in writing.
<br />7. Proleetlon of LeDder'o Rlgbta 10 lbe Property; Mortgage Insurance. If Borrower fails to perform the
<br />covenantund Igreements contained in this Securily Instrumenl. or there is a legal proceeding thai may signiOcanlly olfecl
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce lows or
<br />rqulations), then Lender may do and pay for whalever is necessary 10 protectlhe value of the Propeny and Lender's rights
<br />in tbe Property. Lender's actions may include paying any sums secured by a lien which has priori1y over this Security
<br />IDltrumerll. appearinl in coun, paying reasonable altomeys' fees and entering on the Propcny to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender docs not have to do so.
<br />. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by Ihis
<br />Security lutrument. Unless .Borrower and Lender agree to other lerms of payment. Ihese amounls shall bear interesl fTOm
<br />tbe date of dilbursement al the Note: rate: and shall be payable, wlIh inlcresl. upon nOlice rrom Lender to Borrower
<br />requcstinl payment.
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