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- 106068
<br />UNIFORM Ct)VI NAM ', Borrolx'er And Lender covenant and agree its hollows. /
<br />1, Payment of Principal and Interest; Prepayment and late Charges. Borrower Shall pr- milli) pa4 when due
<br />the pnncipid ofand Interest rill the debt evidenced by the Noic and any prrpaynntnI and late charges due under ibe Now.
<br />J. funds for 'Faxes and Insurance, Subject to applicahle taw or to a w mien waiver by I ender. Borrower shall pay
<br />it) Lender oil tile dal) monthly payments are dtie hinder the Note, lit IIII the "sote is paid In kiII, I sum VTInnis-) equal i( )
<br />one•iwelflh of. (a) )'Carly taxes and a„c'ssmc'lll, w'hic'h Isiah' attain prloriiy I)1cr this Securlt) InNirtlnlcllt: (b) yearly
<br />Ica hAL P aymimlits or ground rent, on the Property, it any; (c) yearly ha/:rd i nsurinwe premiums: and I(i) yearly
<br />in anee premiums, if any. These items are called "escrow item,." I -ender may estimate the I=unds due on the
<br />data and reasonahle estimates of future escrow terns.
<br />id, be held in an institution the deposits or accounts of which are insured or y�umanteed by a federal or
<br />eenc)
<br />s ncluding Lender if L ender is such an institution). Lender shall apply the Fund, lit pay the escrow item~.
<br />Lt ,hinge for holding and applying the Funds, analysing the account or verifyung the escrow items, unless
<br />" applicable law permits Lender ill snake sit, 11 :t ,large. Ilorvwer and
<br />Lender play .:grc,: In writing that interest shall be paid on the Fund,. Unless an aprecinviii 1s made or applicable law
<br />require, iniciest to he paid. Lender shall not be required to pay Borrower any nrleresi or carting, nn rile Funds. Lender
<br />shall give to Burrower, without charge, an annual accounting of the Funds showvlg credits awl debits to the 1 =colds and ►he
<br />purpose for which cal It debit io the I "tends w'as 11111dC i he I'UndS arc pledged as additional securmy for the sums secured by
<br />this Security instrument
<br />If the amount of the Funds held b' Lender, together with the future monthly payments of Funds payable prior to
<br />the dine dates of the "crow Ilcni%. ,hall exceed the amount required to pay the escrow items when clue, the excess shall be.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower nn monthly payments of Funds. If the
<br />amount of the Funds held by Lender its not sufficient ill pay the escrow items when title, Borrower shalt pay' to Lender any
<br />amount nece,Sar) to make up the deficient-) In one or more payments as required by Lender.
<br />Upon paymcnl in full of all sums secured by this Security Instrument, Lender shall promptly refund io Borrower
<br />any Funds held h) 1 tinder. If under paragraph Ill the Property is sold or acquired by Lender. Lrndcr shall apply, nn L'ter
<br />than Inlmedlarel pnor to file sale of the Property or Its acquisition by Lender. slit) Fund, held hp Lender at the time of
<br />application as it credit against the sums secured by' this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, ull payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note: second, to prepayment charges due under the
<br />Note. third, to amounts pagahle under paragraph 2: fourth, to interest due: and last, It) principal duC.
<br />4. Charges; Liens. Borrmicr shall pay all taxes, assessments, charges, fines and imposition, aitributahle to the
<br />Property which nla) attain priority tiler this Security Instrument, and leasehold payments or ground rent,,, if any.
<br />Borrower shall piny these ohligatiuns In the manner provided in paragraph 2, or if not paid nl that manner. Borrower shall
<br />pay them on lime directly to the person owed pay rnew. Borrower shall promptly furnish to Lcnder all notices of amounts
<br />to be paid under this paragraph. if Burrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower %hail 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 nl it 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 />prevent the enforcement of the lien or forfeiture of any part of the Property, or (c) Secures front the holder of the Ilea an
<br />agreement satisfactory to Lender subordinating the Tien to this Security Instrument. If Lender determine, that any part of
<br />the Property is subject to it lien which may attain priority over this Security instrument. Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the hen or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property$
<br />insured against loss by fire, hazards included within the terra "extended coverage" and any tither hazards for which I ender
<br />requires insurance. This insurance shall he maintained in the armounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's appro%A which shall not be
<br />unreasonably w'iihhekf.
<br />All insurance policies and renewals shall he acceptable to Lender ;cod shall Include it standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender require,, Borrower shall promptly gi +c to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss. Burrows, shell give prompt notice to the insurance
<br />earner and Lender. Lender may make proof of loss if not made promptly h) Borrower.
<br />Unless Lender and Borrower otherwise agree In writing, insurance proceeds shall he applied io 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 economically feasible or Lender's security would he lessened. the Insurance proceeds shall he
<br />applied to the sun), secured by this Security Instrument, whether or not then due, with any esces, paid to Burrower. If
<br />Borrower abandons the Properly, or does not answ'cr within 30 days it notice from bender that the insurance carrier has
<br />offered to settle alarm, then Lender may collect the insurance proceeds. Lrndcr may use the proceeds to repair or restore
<br />the Property or u, pay Burns secured by this Security instrument, whether or not then clue. The 30 -day period will begin
<br />when the nonce Is given.
<br />Unless Lender and Burrower otherwise agree in writing, any application of proceeds to principal ,hall not extend or
<br />postpone the due date of the monthly payments referred to 1t-• paragraphs I and 2 or change the amount of the payments. I1
<br />under paragraph lo) the Property is acquired by lender, Borrower's right to any Insurance policies and proceeds resulting
<br />from damage ill the Property prior to the acquisition shall pass ua Lender to the extent of the sum, secured h) this Security
<br />instrument nmmtidlately prior to the acquisition.
<br />6. Preservation and %lointenance of Property; Leaseholds. Burrower shall not dcstro) • damage or %uhsiantlally
<br />change the Property, allow the Property Iu deteriorate or commit waste If this Security Insuunlcni Is tin a leasehold.
<br />Borrower shall comply w lilt the provisions ufihc lease, and if Borrower acquire, fee title to the Property, the leasehold and
<br />fee title shalt not ,serge unless Lender agrees to the nnerger ill wrung
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance. It Borrower Luls t, perform the
<br />covenants and aI rcrments contained In this Se,urny Inslnuncnt, or rhrre 1, a Ieg.11 I•rnrrcdnlc 1he1 nlak signlf t mull 114"1
<br />Lender's rights ill the Properly (such as it proceeding In hankruptcy, piohafe, fit o,micimi;lulvl r 10 rnlnrce law, of
<br />regulaUoncl, thou Lcnder ncly do :Ise( pay for whatever Is ueeossan to pnurri the value of the I'n,prrtk id I ender', I Icht,
<br />1
<br />ill the I'roperiy I ender', canons may include p,only any snnl, ,e,uncl h, a In•n uh1,h ha, pit, nn „%e1 ihls se, loll,,
<br />Instrinnviil. 'Ipl •ar'lllg 111,1111!1 pl4ing let, Illd Illt,ling on Ill t'1< perl,. • nl.tkc ice, 111, h
<br />Ire
<br />Lender may rtk c a, ton luuler this paragraph 7 1 cndr i flocs not h;nc io d ,o
<br />Any anwunls dl,hursed by 1 ender under Ili pit l I) It fill , ,hell a e, nn' .t-1 li 1 'nal dchl , t Horrok+rr „ m of h, Ih1,
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<br />S<cnriv lnstnnr, 11 1'n1c,%ll rmwt•rand Len,f•l wi t i •.,ihtr t :nn l "oln tit itl s- w ww,'11"111, ., tool
<br />the d'11c of thshur,rnn l,l tit Ow vole rille :Intl 'h,111 he pa).11,11 . ,kith ill, 1,',I , , n n• u„ , i 1,. I , • ,L 14 111 kk rr
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<br />regln',1111W, plentl'nt
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