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<br />88-105350
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<br />UN1FOItM CoVENANTS Borrower and Lender covenant and agree as follows:
<br />1. i'Q'aInl of PrtBclpallJld lBt.rat; PrcJIIIY"'.BtlJld Lat. CIw1lot, Borrower shall promptly pay wh,n due
<br />the principal orand interest on the debt evidenced by the Note: and any prepayment and laic charg~ due under the Note:.
<br />Z. Fuado furTa.... "1S.raaco. Subject 10 applicabl, law or to 0 wrillcn waiver by Lender, Borrowcrshall pay
<br />10 Lender on the day montbly payments are due und.r tbe Not., umilth. N01C Is paid in full, a sum ("Funds") equal to
<br />onc-IweJnh of: (a) yearly tlltes and asscssmenlS which may allain priority over this Security Instrum.nt; (b) yearly
<br />leasehold paymenlS or ground m>ts on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortp.ae insurance premiums. if any. These hems are called "escrow item~." Lender may estimate: the Funds due on che
<br />basis of CW'TC1t data and rcuonable estimates offuture escrow items.
<br />The Funds shan be held in an instilution the deposils or accounlS of which ore insured or guarunleed by 0 federal or
<br />state qency (including Lender if Lender is such an Institution). Lender shall apply the Funds 10 pay the escrow ilems,
<br />Lender may not charge for holdinl and applying th. Funds. analyzing the account or verifying the escrow it.ms, unless
<br />Lender pays Borrower int.....t on th. Funds and applicable law permits Lender to make such a cha.ge. Borrower and
<br />Lender \DIY agree in writing that int.....t shall be paid on the Funds, Unless an agreement is made or applicable law
<br />requires intereSlto be paid. Lender shan not be required 10 pay Borrower any interest or earnings on the Funds. Lender
<br />lhal1 pl'C to Borrower, without charge., an annualllCCOunting or the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made, Th, Funds are pledged as additional security for the sums secured by
<br />this Socurity Instrument,
<br />If the amount ofthc Funds held by Lender, together with the future monthly paymen.. of Funds payable prior to
<br />the due dates afthe escrow items, shall exceed the amount required to pay the escrow items when due. the excess shall be,
<br />at Bom>wer's option, either promptly repaid 10 Borrower or credited to Borrower on monthly paymtnts of Funds. If the
<br />amount of the Funds held by Lender is not sunlcient to pay the escrow items 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 aU sums secured by this Security loslrum,nt, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragruph 19 the Property is sold or acquired by Lender, Lender shall apply. no la..r
<br />than immediately prior to the sale of the Property or its acquisition by lender, any Funds htld by Lender al the time of
<br />application &5 a credit against the sums secured by this Security Instrument.
<br />3. A"uadOll of PaymeatL Unless applicable law provide; otherwise, aU payment,. received by lender under
<br />paragraphs 1 and 2 shan be applied: fin;~ to late charges duc under the Note; second, to prepayment charges due under the
<br />Note; third. to amocnts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4, Qaraes; UeDL Borrower shall pay al1 gUS, IIS5C5Sments, charges, fines and impositions attributable to the
<br />property which may atLain priority _ over thas Security Instrument, 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 that manner, Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender ail notices of amounts
<br />to be paid under this paragraph. If Borrower makes these paymenlS directly. Borrower shall promp'ly furnish to Lender
<br />receiplS evidencing the paymenlS,
<br />Borrower shall promptly discharge any lien which has priority over this SecurilY Instrumenl unless Borrower: (a)
<br />agrees in writing to the payment ofth. obligation secured by the lien in a manner acceptable to Lender; (b) contes.. in good
<br />faith the lien by. or defends againsl enforcement of the lien in. l.gal proceedings which in th. Lender's opinion operule to
<br />prevent the enforcement of the lien or forfeiture of any part of lh. Property; or (c) secures from the holder of the lien an
<br />agroementsatisfaclOI)' to Lender subordinating the lien to this Security Instrument. If Lender delcrmines lhat Iny part of
<br />the property is subject to a lien which JDB.Y 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 more of the actions set forth above within 10 days
<br />of the giving of nOlice.
<br />S. HuanlIDluraDC'e. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against Iou by fire, hazards included within the tenn "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be mainlained in the amounts and for the periods thlt Lender requires. The
<br />insurance carrier providins the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All inaurance poliaes and renewals shall be acceptabl. 10 Lender and shall \Delude a standard mortgage clause,
<br />Lender shall have the right \0 hold the policies nod m>ewIIs. If Lender reqUires, Borrower shall promplly give 10 Lender
<br />all receiptl of paid premiums and rencww notices. In the event of Joss, Borrower shall give prompt notice 10 the insurance
<br />carrier and Lender. Lender may make proof on... if not made promptly by Borrower,
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds Ihall be applied to restoration or repair
<br />or the Property damaged, if the res\oration or repair is economically feasible and Lender's security.. not lessened. If the
<br />reI\OI'Ition or repair is nol economically feasible or Lender'. security would be lessened, th. ins~rance proceeds shall be
<br />appl~ to the sums IOCUred by tbis Se<:urity Instrument, whether or not then due, with Iny c..... paid to Borrower. If
<br />Bormwer abandons the Propc:rtyl or d0e5 not amwcr within 30 days a notice (rom Lender Ihll tbe insunnc.c: carrier has
<br />olFered to settle a claim. then Lender may COllecllhc insurance proceeds, Lender may use lh. proceeds 10 repair or res\Ore
<br />the property or to pay sums teCUred by this Security Inslrumenl. whether or nOlth,n due. The JO-day period will begin
<br />when the notice is given.
<br />Unless Lender and BorTO'l'er otherwise agree in writing, any application of proceeds to principal shall not cxtend or
<br />pD5IpOIIO the duo date of the monthly paymenlS referred 10 in paragraphs I and 2 or change th, amount of the paymenlS. If
<br />under JlUIP1'IIb 19 the Property is acquired by Lender. Borrower's right 10 any insurance policies and proceeds resulting
<br />from damaae to the Property prior to the acquisition shall pass 10 Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. ~....... MaID\eIWIOe of ProperV: laM....ldL Borrower shall not deslroy. damage or substanlially
<br />change the Property, allow the property 10 dcteriora'e or commit wasle. If this Security Inslrument is on a I....hold.
<br />Borrow... shaI1 comply with the provisions ohh.I..... and if Borrower acquIres fee tilleto the Property, lhe l....hold and
<br />feo title shaI1 not merge unlou Lender agrees to .he merger in wriling.
<br />1. I'roleetIft or Lader" R1Pta IB tho I'rt>!IOf\Y; Mortpao ~naul'lllCO, If Borrower flils to perform Ihe
<br />COYmaDtJ aDd qreanc:ntsconuined in Ihis Secu.il: Instrument, or there " a legal proceedinsthat may slgnificanlly affecl
<br />Lender". riahh in the Property (auch u a proccedinl in bankruptcy, probate, for condemna.ion or to enforce laws or
<br />rqulation.). then Leoda may do and pay for whalever is........ry to proteclth, value ohh, Property and Lender's rights
<br />in the Property. Lender', actions may include p8)'ing any lums secured by I hen which has prionty over this Security
<br />IllItrument. appearinl in coun, p8yina reasonable attorneys' fees and entering on the Propeny 10 make repairs.. Although
<br />Lender may take action under thil paralf.ph 7, Lender does not have to do 50
<br />Any amounts disbuncd by Lender under thai para,raph 7 !.han become additional debt of Borrower secured by this
<br />Security IDltrumenl. Unless Borrower and Lender aSTte to other term' of payment, these amountlshall bear mleresl from
<br />tM date of dubu.ncmcnl al the NOle rale and ,hall be p8)able. wuh mterd1. upon nolice rrom Lender 10 Borrower
<br />req.....nl payment
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