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<br />88-
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<br />105564
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<br />UNIFORM COVENANTS Borrower and Lender eovenantand agree as follows:
<br />I, PayaHal of PrI..lpalad Int....t; Prtpaym.ntand Lat. ChI'1l'" Borrower shall promptly pay when due
<br />the principaJ orand interest on the debt evidenced by the Note and any prepayment and lale charges due under the NOle.
<br />Z. FuDdl for T...IAd Inluran.., Subjeetlo Ipplicable law orto a wrilleo waiver by Lender, Borrowershall pay
<br />10 Lender on the day monthly paymenlS are due under the Note. until the Note is paid in full, a sum ("Funds") equal to
<br />on..tweInh of: (a) yearly laxes and assessments which may aualn priority over this Seeurity InSlrument: (b) yearly
<br />leasehold payments 0: ground renl! on the Property, if any: (c) yearly hazard Insurance premiums: and (d) yearly
<br />mor1pgc insurance premiums. if any. These items IU'e CAlled "escrow items." Lender may estimate the Funds due on the
<br />basis of CUl'l'enl data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or 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 10 pay the escrow items,
<br />Lender may not charge for holding and applying lbe Funds, analyzing Ihe aceounl or verifying the escrow items, unless
<br />Lender pays Borrower inten:sl on the Funds and applieable law pennits Lender to make such a charge, Borrower and
<br />Lender may agree in writing Ihat 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 interest or earnings on the Funds. Lender
<br />shill giye to Borrower, without charge. an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for tbe sums secured by
<br />this Security Instrument.
<br />Iflbe amount ofthe Funds held by Lender, together with thefulUre 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 excesii shall be,
<br />at Borrower's oplion, either promplly repaid to Borrower or credlled to Borrower on monlhly payments of Funds, If the
<br />amount oflhe Funds held by Lender is not sufticienlto 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 all sums secured by Ihis Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held hy Lender, If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no Jaler
<br />than immediately prior 10 the sale of the Propeny 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. ApplImtioa of P.ymeDb. 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 Ihe 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. Cltar8ea; U..... Borrower shall pay all taJ<es, assessments, charge<, fines and impositions auribu!able to Ihe
<br />Property which may attain priority, oYer this Security Instrument, and leasehold payments or ground rents. if any.
<br />Borrower shaU 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 all notices of amounts
<br />to be paid under lbis paragraph, If Borrower makes th... paymenl! direetly, Borrower shall promptly furnish to Lender
<br />receipts evidencing lbe paymenl!,
<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 proceedings which in the Lender"s opinion operate to
<br />prevenllbe enforcement of the lien or forfellure of any part of the Property; or (cl secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating Ihe lien 10 Ihis Security InstrumenL If Lender detennines thaI any part of
<br />the Property is subject to a lien which may anain priority over this Security Instrument. Lender may give Borrower a
<br />notice identifying the lien, Borrower shall satisfy Ihe lien or take one or more of the actions set forth above within 10 days
<br />of the giving afnolice.
<br />5. Huud luurance.. Borrower shall keep the improvements now existing or hereafter erected on the Propeny
<br />insured againslloss by fire. hazards included wilbin thetenn "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for tbe periods that Lender :,~uires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably wilbheJd,
<br />All insurance policies and renewals shall be 8CCep!able 10 Lender and shall include a s!andard mortgage clause:,
<br />Lender shaII have Ihe right to hold lbe policies and renewals. If Lender requires, Borrower shall promptly give 10 Lender
<br />all receipts or paid premiUlllll and renewal notices. In the event of loss, Borrower shaIJ give prompt notice to lhe insurance
<br />carrier ad Lender, Lender may make proof ofloss 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 restoration or repair Is economically feasible and Lender's security is not lessened, If lbe
<br />restoration or repair is nOI economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied 10 lbe sums secured by lhis Security Instrument, whelber or nol then due, with any excess I"'id to Borrower, If
<br />Borrower abandons the Property, or does not answer within 30 days a norice from Lender that the insurance carrier has
<br />otrered to settle. claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or 10 pay sums secured by this Security Instrument, whether or nOllhen due, The JO-day period will begin
<br />when the DOtic:e is given.
<br />Unl... Lender and Borrower otherwls.: agree in wnting, any application of proceeds 10 principal shall not extend or
<br />postponethe due date ofthe monthly payments referred to in paragraphs I and 2 or changethe amount of the payments, If
<br />under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from damageto the Property priorlo Ihe acqulsilion shall pass to Lender to theeXlent of the sums secured by this Security
<br />Instrument immediately prior to the acquisilion.
<br />6.. PrelerutioD ud MalateDance olProperv; LeueIIolda. Borrower shall not destroy. damage or substantially
<br />change the Property, allow lhe Property to deteriorate or commit Waste. If this Security Instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Propeny, the leasehold Bnd
<br />fee title shall not merge unleu Lender agrees to the merger in writing.
<br />7. l'roI<<tlaa of LeIIdtr'a Rlpta in the Property; Mo~ Insurmce, If Borrower fails 10 perform the
<br />COVenants and qreemCllts contained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />Lender's ripts in lhe Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />rquIatiom), then Lender may do and pay for whatever is necess.ary to protect the vaJue crlhe Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by B lien which has priority over Ihis Security
<br />Instrument. appearing in court. paying reasonable attorneys' fees and enlering on the Property 10 make repairs. Allhough
<br />Lender may take action under this paragraph 7, Lender does not ha.. 10 do so,
<br />Any amounts disbursed by Lender under this paragraph 7 shall become add11l0nal deb1 of Borrower ~ured by Ihls
<br />Sec;urity Instrument Unless Borrower Bnd Lender agree to other terms of payment. these amounl!t shall bear ln1er~1 from
<br />the date or disbursement a. the Note rate and shall be payable. wuh Inlerest, upon nol1ct" from I t"nder 10 Borrower
<br />"'!I_tn, payment,
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