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<br />88-105321
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<br />USIUlRM CO\'tN^Nts Borrower lInd Lender cuvenonl tlnd agree U!lo fnlluw!t
<br />I. Plyment or Principal and Interest; Prepayment nnd Late Charges. Borrower "hall prmnplly puy when due
<br />the pnnci(l:J1 nfaml interest on the- debt eVidenced hy the Note and nny prcpuymrnt nnd late chnrgc!lo due under 1 he Nole.
<br />2. Io'unds for Taxes and Insurance. Subje:l to Rflpllcnhlc In\1,' or 10 n wrille" wui\'cr by Lender. narruwer "hull (lll)'
<br />to Lender on thcdn)' monthly pn)'mcnt'i arc duC' under the Note, u"tillhe Note is paid in full. II sum ("rum!!.") equlll to
<br />one.l\\'ctnh of: (n) yearly tnx~ nnd nss~smcnls which ma~' attain priorily over this Security InfilrUmcnt: (h) yellrly
<br />lea!tchold payments Of ground rents on the l)ropcrlY, If uny; te) yearly hazard insurance prcmium~: Dnd (d) }'cmrly
<br />mongnge: insurance premium!., if any, These: items arc culh:d '.escrow items." lender may L"Slimllle the Fund!l due on the
<br />ba.llj.is of current datu nnd reasonable estimates offulUre escrow item!lo.
<br />The Funds shall be held in an institution the dcposils or accounts of which arc insured or guarnnleed by u redernl or
<br />state agency (including Lender if Lender is such un instilution). lender shall apply the Funds 10 pay lhe Loscro\\' ilcn1!1.
<br />Lender may not charge for holding and applying the Funds, analyzing the nccount or verifying the escrow items, unlcs!.
<br />Lender pays Rorrowcr intere!it on the Funds and applicable law permits Lender 10 make 5uch 11 charge. Bo,:"rower and
<br />Lender may agree in ,-,'riting rhat inlen:st shall be paid on the Funds. Unless an agreemenl is made or applicable law
<br />requiro interest to be paid, I.ender shall not be rL"quircd to pay Borrower anr interest or earning.. on the Funds. Lender
<br />shall give 10 Borrower, withoUI charge, an annual accounting of the Funds showing credits :md dehits to Ihe Funds and the
<br />purpose for which each de:billO Ihe Funds was made:. The Funds lire pledged as additionul !.ccurily for the sums ~~curcd hy
<br />this Security Instrument.
<br />Irthe amount of the Funds held by Lender, together with the future monthly payments of FllIlds payahle prior to
<br />the due dates orlhe escrow items, shall cxceed the amount required lo pay the escrow Hem!lo when due, the excess shall be,
<br />at Borrower'.. option, either promptly repaid to Borrower or credited to Borrower nn monthly pllyment~ of Funds. If the
<br />amount of the Funds held by Lender is not !Oufficient to pay Ihe escrow item!;. when due. Borrowcr :,hnll PIIY In Lt:ndcr any
<br />nmounl necessary to make up the deficiency in one or more payments a... required by Lender.
<br />Upon paymenl in full of all 'turns secured hy this Security Inslrumcnt, Lender shall prnmplly refund to Borrower
<br />any Fund" held by Lender. Ifllnder paragraph IQ the Property is sold or acquirL-d hy Lender. Lender shall apply, no laler
<br />than immediately prior to the salt: of the Property or its acquisilion by lender, any Funds held by Lender at lhe lime uf
<br />application as II credit agllinst the sums secured by this Security Instrumeot.
<br />J. Application of Payments, Unless applicable law provides othern'l~e, nil payments received by Lender under
<br />paragraphs I and 2 shall tlC applied; first, 10 late: charges due under 1he Note: second. to prepayment charges due under the
<br />Note; third, to arnoums payable under paragraph 2; founh, to mten:st due: and last, 10 principal due.
<br />4. LlIarges; Liens. Borrower shall pay all ta;r;es, a.'\scssmenls. charges, fines and impositions llttrihutuble to the
<br />Propeny which may attain priority over thi~ Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pa}' these obligations in the manner provided in paragraph 2,1\r tfnut paid in th.lI manner, Borrower shall
<br />pay them on tIme dln.'clly to the person owed paymenl. Borrower shall prumptly furnish to lender all notices of amounts
<br />to be paid under thl!! paragraph. If Borrower makes these payments dirt."Clly, Burrowcr !.hall promplly furnish 10 Lender
<br />receipls C.'vldc:nclIlg the pllyment!'._
<br />Borrower shall promptly dl!loCharge any lien winch has pnorilY over Ihl!. Security Inslrumcnt unless Borrower; (11)
<br />agreo III Writing 10 Ihe payment ufthe obligatlOn Mx'urcd b)' the hen in a mllnncr acceptahle 10 Lendcr; (b) contests in good
<br />faith the lien by, or defends against enforcemcnt of the lien in. legal proceeding!. which in the Lender'~ opinion operate 10
<br />prcvenlthe enforcemenl of lhe lien or forfeilure of IIny pan of the Property; or (c) SL"Cures from the holder of Ihe lien an
<br />agreement satisfactory 10 Lemler subordlllaling Ihe helltn thiS Security Instrumen1. If Lender del ermines that any part of
<br />the Property i!l. subjecl (0 a lien which mllY IIttalll pnt)nt~. m'er Ihis Security Instrument. Lemler milY give Borrower II
<br />nOlice identifYlllg the hen. Borrower ~hall ~nusfy the hen or take one or more of the lu:tinn!t set forlh IIbm'e within 10 days
<br />of the gi'Ving of notice,
<br />S. Huard Insurance, Borruwer ..hall keep the lmpflwc:mcnh now exislmg or hereafter erected on Ihe Properly
<br />insured against IDS!. by fire, hUl.ard!lo mcluded wnhin the lerm "exlended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shaH be maintained in the amounts and for Ihe periods that Lender requires. The
<br />insurance carrier providing the in50urance shaH be cho!>Cn hy Borrower subject 10 lender'\ upproval which shall not be
<br />unreasonably wlthheld.
<br />All in!lourance pohcies and renewals shall be acceptable lO lender and "hull IIlduLle a slamlard mortgage clause,
<br />Lender shall ha\'1: the right to hold the policies and renewah.. If ~nder requir~, Horrower ~hall promptly give to Lender
<br />all receipts of paid premiums and renewal notices, In the evenl of loss, Borrower shall give prompt notice 10 Ihe insurance
<br />carrier and Lender. Lender ma~' mm proof of loss ifnot made promptly by Burrower.
<br />Unless Lender Ilnd Borrower otherwise agree in writing, msurllnce proceeds ..hall be appliL-d 1(1 rc-storntion or repair
<br />of the Property damaged, if the restoration or repair 15 r:conomically feasible Ilnd Lender's !lL"Cunty i!l not lessened. If Ihe
<br />restoration or repair is not o:onomicull)' feasible or Lender's security would be k~!loened, the insurance proceeth, shall be
<br />applied to the sums !OCCured by this Securit}' Instrument, whether or not Ihen due, with any excess paid to Borrower. If
<br />Borrower IIbandons the Propeny, or does not answer wilhin 30 day~ n notice from Lender lhat the insurance carrier ha!.
<br />offered tu seule D claim. then Lender may coHect the insurance procL-eds, Lender mo)' use the proceeds to repair or reMore
<br />the Propcny or to pa}< sum!> !oCCured b)' Ihis. Security Instrument, \\'hcther or nut then dUe. The 30.day period will hcgin
<br />when the nOlice is given.
<br />Unless under nnd Borrower otheTWbc agree in ""riling, IIny application uf proceeds w principal shall nol cXlcnd or
<br />postpone Ihe due date of.he monthly p3ymenls referred to in paragraph!lo I and 2 or I:hange the amount oflhe pllymcnl~. If
<br />under paragraph lQ the Propeny is acquired by Lender. Borrower's right to any in~urance policit:S and proceeds resulting
<br />from damage to the Property prior to Ihe Ilcquisition shaH pass to Lender to the extent oflhe sum!. ~e...'ured hy Ihis Security
<br />Instrument immediately prior to the acquisi1ion
<br />6. Prnenation and 1\lainlenance or Property; Leaseholds. Borrower shall not dotroy, (him age or subslanlially
<br />chan~e the Propcny, allow the Propeny to deteriorate or commit wasle. If Ihb Security Inslrument I~ on l) leasehold,
<br />Borrowersr.a1J comply with the prO\'islons of the lease, and If Borrower acquires fee lille to Ihe propcny, the leasehold and
<br />fee title !Ohall nol merge unless Lender agrees. to Ihe merger in writing.
<br />7. ProtectJoa of Lender'", Riahl. in the Properly; MorlKBKe Insurance. 1f Borrower rail!. 10 pcrf(lrm thc
<br />covenants and agret'n1ent~containcd in this Securily Instrument. or there is u lep.al proceeding 1hat may !.lglllticanlly litre....'
<br />Lender', righu in the Property (such as 3 proceeding in bankruptcy, prob:ue. for condemmHlon nr 10 enforce Illw!. (lr
<br />regulations). then lender ma)' do and pay for whalever is. nec~~r)' to prott.'Cllhe v31ue (Irlhe rfl1perty and Lendcr'~ f1ghl~
<br />in th~ Propeny. Lender', actluns may IIldude paying any sums secured b) a hen whl\.-h I.a~ rrl\lnt~ o\'cr lht.. Sl:1.'UTlI~
<br />In'trument. appeanng in rourt, ('B)'ing reasonable altorne)'s' fec..-s and Cn[enng on the l'flJpcrt) tu male repalf' r\.ltlh1ugh
<br />Lotda may tBcadlon under Ihis paragraph 7. Lender does nOI h3\'e 10 do so.
<br />An)' amount!lodu.buned b~ lender under this paragraph 7 shall become additional deht of IJnrfll....er 't(:\..ured h~ Ihl"
<br />Seennl'; In'trumcnl. Volo' Borro,,'er and l...endcr all,fcr 10 other terms (\fpa)mcnt, lhl....c amnunl.. ..hall hCllr Intcrl'"'tl fn\1I1
<br />the date of dnbuncmcnl al 1ht' Note: fine' Bnd ..hnll be pa~'3ble:. lL,th IIllef"".. upl1n nlll1CC from It:'lldcr hl Umnl\\.cr
<br />requatlng payment
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