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<br />UNlFOIlM CoVENANTS. Borrower and Lender covenant and agree as follow.: 1 081 a '1
<br />1. """1 of PrIacfpa1 ad In_I; PreJlll)'lllenl ud ute Cbaraea. Borrower shan promptly pay when due
<br />Ihe principal ofud interest on the debt eyidenced by the NOle and any prepayment and lale charges due under lhe Note,
<br />2. Faaddar Tn.. uti IDluraace. Subject 10 applicabl.law or to a wrillen waiyer by Lender, Borrower shall pay
<br />to Lender on Ihe day monthly paymentS are due under Ihe NOle, unlil Ihe NOle Is paid in fun, a sum ("Funds") equal to
<br />one-twell\h of: Ca) yearly lUes and usessments which may attain priority oYe? Ihis Securily Inslrument: (b) yearly
<br />IeuehoJd payments or ground rents on the Property, if any: Cc) yearly hazard insurance premiums: and Cd) yearly
<br />mortp&e insurance premiums, if any. These lIems are called "escrow lIems," Lender may estimale the Funds due on Ihe
<br />basis of current data and reasonabl. estimatesoff\1lure escrow lIems,
<br />The Funds shall be held in an instilution the deposits or accounts of which are insured or guarantced by a federal or
<br />stat. agency (including Lender if Lender is such an inslllution), Lend.r shan apply th. Funds to pay Ihe escrow lI.ms.
<br />Lender may not charge for holdilll and applying the Funds, analyzing the ""count or verifying the escrow it.ms, unless
<br />Lender pays Borrower inlerest on the Funds and applicabl. law pennilS Lender to make such a charge. Borrower and
<br />Lender mayas-in writing that interest shall be paid on th. Funds. Unless an agreement is mad. or applicable law
<br />roquires interest to be paid, Lender shall not be required to pay Borrow.r any int.rest or earnings on the Funds. Lender
<br />shall live to Borrower, without charge, an annuaJaccounting ofth. Funds showing credits and d.bilS to the Funds and the
<br />purpose for which each debit to the Funds was mad., The Funds are pledged as additional security for Ih. sums secured by
<br />this Security IDltrument.
<br />Ifth. amount ofth. Funds held by Lender, together with Ih. future monthly payments of Funds payable prior to
<br />the due dates of the escrow items, shan exceed the amount roquired to pay the escrow items when due, the e.cess shall be,
<br />al Borrow....s option, either promptly repaid to Borrower or credited 10 Borrower on monthly paymenls of Funds. If Ih.
<br />amount of the Funds held by Lend.r is not suflicienlla pay th. escrow ilems when due, Borrower shan pay 10 Lender any
<br />amount necessaJY to make up the defici.ncy in one or more paym.nts as required by Lender.
<br />Upon paymenl in fun of all sums secured by Ihis SecurilY Instrument, Lender shall promptly refund 10 Borrower
<br />any Funds held by Lender. Ifund.r paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no lat.r
<br />Ihan immedial.ly prior to the saI. of Ih. Property or ils acquisilian by Lend.r, any Funds held by Lend.r atlh. time of
<br />application as a c:redil against Ih. sums secured by Ihis Security Instrument.
<br />3, AppIlcatlOll of hymenll, Unless applicable law proyides otherwise, an payments receiyed by Lender under
<br />paragraphs I and 2 shall be applied: finl, 10 late charges due under the Not.; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, 10 inlerest due: and lasl, to principal due.
<br />.. CIIup; IJ..... Borrower shall pay all ta.es, assessm.nts, charges, fines and imposilians allributabl. to the
<br />Property whicb may attain priority, oyer this Securily Instrumenl, and I....hald payments or ground rents, if any,
<br />Borrower shall pay these abligalians in th. mann.r provided in paragraph 2, or if not paid in Ihat mann.r, Barraw.r sban
<br />pay them on time e1i.....t1y to th. penon owed payment. Borrow.r shall. promptly fumisb to Lend.r an notices of amounts
<br />to be paid under this paragraph. If Borrower makes these paymen15 di.....t1y, Borrower shall promptly furnish 10 Lender
<br />receipts evidencing the payments,
<br />Borrower shall promptly discharg. any lien which has priority oyer Ibis Security Instrument unless Borrower: Ca)
<br />agrees in writing to tb. payment ofth. obligation secured by th.lien in a mann.r acceptable to Lender; (b) conlests in good
<br />flith th. lien by, or defends against enforcement ofth.lien in, legal proc:eedings which in the Lend.r's opinion operal. to
<br />p....ent the enforcement of Ih. lien or forfeilure of any part of the Property: or Cc) "",ures from th. hald.r of th.lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lend.r d.tennines that any part of
<br />the Pmperty is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrow.r a
<br />notice identifying the lien, Borrower .hall satisfy the lien or lake one or more arlhe actions set forth aboye within 10 day.
<br />of the giving afnotic:c.
<br />5, Huard laauraace. Borrower shan keep th. imprayements now e.isting or h....fter erected on Ihe Property
<br />insured against loss by fire, hazards included wilhin th. tenn ....tended coy.rage" and any other hazards for which Lender
<br />roquires iDlurance, This insurance shall be mainlained in the amounts and for th. periods that Lend.r requires, The
<br />insurance carri.r providing the insurance shall be chllSCll by Borrower subject to Lend.r's apprayal which shan nal be
<br />unreasonably withheld,
<br />AU insurance policies and ren.wals shall be acceptable to Lend.r and shan include a standard mortgage clau,e,
<br />Lender shaU have tbe right to hold the policies and renewals, If Lend.r requires, Borrow.r shall promptly giye to Lender
<br />all receipts of paid premiwns and renewal nOlices. In tb. .yent of loss, Borrow.r shall giye prompt notice 10 the insurance
<br />carrier and Lender. Lender may make proof afloss irnot made promptly by Borrow.r.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shan be applied 10 restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not ec:onamic:aJly feasibl. or Lend.r's security would be lessened, the insurance proceeds shall be
<br />applied 10 lhe sums secured by this Security Instrument, wbeth.r or not then du., wilh any excess paid to Borrower. If
<br />Borrower abandons th. Property, or does not answ.r witbin 30 days a natic. from Lender that tbe insurance carrier has
<br />otrend to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restor.
<br />the Property or to pay sums secured by thi. Security Instrument, wh.ther or not then due. The 3O-day period will begin
<br />when tb. notice is giyen.
<br />Unless Lender and Borrower olherwise agree in writing, any applicalion of proceeds 10 principal shall not.xtend or
<br />postpone the due date aftbe monthly payments ref.rred to in paragraphs I and 2 or cbange the amount ofthe payments. If
<br />under paragrapb 19 the Property is aequired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from tIamage to the Property prior to lb. acquisition shall pass to Lender to the ..tent of the sums secured by this Security
<br />Instrument immediat.ly prior to the acquisition.
<br />6. Praenalloa and Mallllellance or Pro.....; Louebol.... Borrower shan not destroy, damage or substanliany
<br />cbange tb. Property, allow the Property to deteriarat. or commit wast.. If this Security Instrulllflll.Jn>J\'a:!CB!!"hold,
<br />Borrower shaU comply with tb. proyisions of the lease:, and if Borrower acquires fee litle to Ih. Propetly'tJiii: ~limd and
<br />f.. title shall not merg. unless Lender agrees to the merger in writing.
<br />7. Protect1oIt of ........... RJahll In the Property; Mortpp IOIlIrance. If Borrower fails 10 perfonn Ibe
<br />COY_II and agreements CODlained in this Security Instrumenl, or there is a legal proceeding thai may significantly affect
<br />Lcndcr'. rilht. in tbe Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />repJations), then Lender may cIo and pay for whatever is necessaJY 10 protect the yalue ofthe Property and Lend.r's rights
<br />in the Property. Lender's actions may includ. paying any sums secured by a lien which has priority oyer this Security
<br />Instrument, appearing in court, paying reasonable allomeys' fees and entering on th. Property to make repain, Although
<br />Lcndermaytakeaction uliderlhis paragraph 7, Lender does not bay. to daso.
<br />Any amounts disbuned by Lender und.r this paragraph 7 shan become additional debt of Borrower secured by Ihis
<br />Security Instrument Unless Borrowehnd Lender agree to olher tenns of payment. these amounts shan bear interest from
<br />tbe date of disbunanenl at the Note rate and shan be payable. with interesl. upon notice from Lender to Borrower
<br />rtqUCltm, payment,
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