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<br />87- 10+6071
<br />UNIFORM C(>VtiNANT.S Borrower and I.l•rldtr covetianl and agree as hrll,ws
<br />1, Payment of Principal and Ioter4st; Prepayment and Late Charges, Burrower shall promptly pay when due the
<br />principal of anti uucrest of the drIn tvidcnc'cd by rIit Nnu• anti any prepayment and late charges duct under rIit Note.
<br />2. Funds for Taxes and Insurance. Subjet f or applicable law or nr a writtan waiver by Lender, Borrower 411311 Pay u,
<br />I.ender tin rile day monthly payments are title under the Note, until the Note is paid in full, a sum ("Funds") equal to
<br />one - twelfth of: (a) yval ly nixes and assessments which may attain priority over this Security Instrument, (lit yearly leasehold
<br />payments or ground rents on the Property, it any; fn yearly hazard insurance premiums; and (d) yearly mortgage insurance
<br />premiums, it any. These items are callcd "escrow• items." I.elldvr may esfintare• the Funds ducnn thebasisuf currrn[ data and
<br />reasonable estimates of tuturc escrow items.
<br />The Funds shall be held in aft institution tilt• depusus or .uruuni%of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an instint(iun). Lender shall apply file Funds u) pay themrow items lender
<br />may not charge for holding and applying the Funds, analyzing the at(tnutr tit verifying flivescruw items, unless Lender Pays
<br />Borrower interest on the Funds and t lip Iicable law permits Ixodel it) make such a charge. Burrower aml Lender may agree in
<br />writing that intcrest shall he paid on the Funds. Unless an agreentcnf is made or applicable law requires interest to be paid,
<br />Lender shall not he required ru pay Borrower any interest cur earnings ()it the Fmuls. Lcnder shall give at Burrower, without
<br />charge, an annual accounrinAot the Funds showingcredits anddebits w file Funds; and the purpose for which each debit to the
<br />Funds was made. The Funds are pledged as additional Setuiriry for the• sums secured by this Security Inntrunenr.
<br />If the amount of the Funds held by Lcnder, rogether with the ftnurt monthly paymentsuf Funds payable prior to (tic
<br />due dates of the escrow items, shall txctcd the amount required to pay the escrow items when tile, [tic excess shall Ix, at
<br />Borrower's option, either promptly repaid to Burrower or credited w Burrower tin monthly payments tiff Funds If tilt•
<br />amount of [he Funds held by Lender is not sufficient to pay the escrow items when life. Burrower shall pity t- Lender any
<br />.unuunt necessary to make up the deficiency in one or more payments is required by Lender.
<br />Upon payment in full ()fail sums secured by this Security loss ununr Lcnder shall pn mprly refund to Burrower any
<br />Funds held by Lender. If under paragraph 11) the Property is SOW Air ILgtIirCd by Lender, Iendtr shall Apply, nu later than
<br />innmcdiaraly prior u, the halt Of the Property ur its acquisition by Lcnder, any Fonts held by LCIRIer aI file t inmof Application
<br />as a credit against tilt sums secured by this security Instrcuncnt
<br />i. Application of Payments. Unless applicable Lnv provides o(hcrwise-, all paymenn rete•rced by Lender under
<br />paragraphs 1 and 1 shall be applied: first, to late charges due undct the Note, .stand, to pie•payment charges tut• under tilt
<br />Nutt: third, rrl :amounts payable under paragraph '; fourth, no inwicst due•; and last, () principal tut
<br />9. Charges; Liens. Borrower shall pay all taxes, at ses%II1tmS, ch.u'gcS, fines And impositions auribuafblc• to the
<br />Property which may attain priunty over this securny Instrument, and Icaschold pay mu•nn ur gruulid rents, if any Borrower
<br />Shall pay these obligations in the manner provided in paragraph 2,,rit not paid in than manner, Burrower shall pay them -n
<br />timectircctly u, ncc person uwcd payment. Bomme•r shall prumpily turnish to Lcnder all tl- tittSof annnutts lobe paid under
<br />fills paragraph. If Burrower makes thcst payments directly, Bormxvc•r shall promptly furnish to Lender receipts tvnlcncing
<br />the payments.
<br />Burrower shall promptly discharge any lien which has priority uvcr this Security Instrument unless Burrower: (a)
<br />agrees in writing to (ht payment of the obligation se•curcd by the bell in a manner attepnthle• t- Lcnder; l hi a,mests in good
<br />faith the lien by, or defends against enfurce•nu•nt of the [fell in, legal proceedings which in tilt Lender's opinion operate :o
<br />prevent the enforcement of tilt lien or forfeiture of any part of the Property; or (t-) Stclll'tS from the• holder of the lien in
<br />agreement satisfactory ru Lender subordinating the• lien to this Security Instrument. If Lcnder determines that any part ill the
<br />Property is subject to a lien which may attain priority uvcr this Scatrity Instrume•m, Lender may give Borrower .1 notice
<br />identifying the lien. Burrower shall satisfy the lien or take one or more of the actions set forth above within 10 days tit the
<br />giving of notice.
<br />5. Hazard Insurance. Burrower shall keep tilt• improvements now existing or hereafter erected tin the Pruperty
<br />insured against loss by fire, hazards included within the term "exle•nded Leverage" and any other hazards for which Le•nde•r
<br />requires insurance. This insurance• shall be maintained in the amounts and for the periods that Lender requires The
<br />insurance carrier providing the insurance• shall Ix thostn by Burrower subject to I.CI1dCr % approval which shall not be
<br />unreasonably withheld.
<br />All insurance politics and renewals shall be acceptable n) Lender and shall include a standard mortgageclausc Lender
<br />shall have the right to hold the Puliuc•s and renewals. If Lender requires, Borrower shall promptly give mr Lender all receipts
<br />of paid premiums and renewal notices. In the event of loss, Burrower shall give prompt notice (n Ihe• insurance Ian ter and
<br />Lender. Lender may make proof of loss it not made promptly by Borrower.
<br />Unless Lender and Burrower otherwise agree in writing, ioSUranec• protceds shall be applied to restoration or repair
<br />(if the Property damaged, it the restoruion or repair IS c•tunonutall) feasible •end Lender's stump is not lessened It tile
<br />restoration or repair is not c•urnomurdly feasible or Lender's Set linty would he ICSIC11Cd, the uuuramc proceeds shall lac
<br />applied to tilt sums %ccurcd by this Security Instrument, whether or not then file, with •lily excess paid to Burro%ct It
<br />Borrower abandons the• Property, or does not answer within i0 days A ooti C from Lender that the insurance carrier has
<br />offered ruscttle a claim, then Lender nay ("[let[ the insurance proce•e•ds Lcnder may use the• proceeds 1- repair or restore tile
<br />Property or to pay sums secured by this Sc•tatrlty Instrument, whether nr not ihcn due The i0 -Jay period will begs, w hc•n Ill,
<br />notice is given.
<br />Unless Lender and Borrower otherwise agree ill —A ming, any applll.lf oll Of pr- Q•t•dS Io 1rIIlUp,l1 shall not extend or
<br />postpone the due date of the monthly payments referred to u, paragraphs I and ? or change [lie amount of the pa) musts 11
<br />under paragraph Ill the Property is acquired by Lender, Bornmvi s right to ally lnsur,lucr politics .Ind pnuct•dS resulting
<br />from damage ill the Property prior u, file acquisition Shall pass n, Lento to the extent of the sums a tared by (111, gull my
<br />Instrument Immediately prior to tilt- acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, da magc sir subsl.olliA y
<br />change the Property, allow the Pruperty at dewriurate or tonmmi( waste If (Ills tieun'ity Instrument is -n .1 Ic.ISehold.
<br />Burrower shall corn lily with the provisions of the lease, and it Bunowe•r a(quitt•s fee title to tilt Ptopclty, the Icasehold and
<br />fee title shall not merge unless Lender agrees to the merger in willing
<br />7. Protect inn of Lender's Rights in the Property; Mortgage Insurance. 11 Bnrruwe•r lads to perform the cotenants
<br />and agreements contained in this security Instrument, err there is .I legal proceeding that may slgmfi.antly affec( Lenders
<br />rights in the Property (such as ,t proceeding in bankruptcy, probate•, for unde•mnationor toe•nlurte laws or regul.urlmS 1, thto
<br />Lender may du and pay for whate•vur is necessary to protect the value of the Properly and Lcnder % tights tit the Property
<br />Lender's actions may include paying any Burns smire•d by a hell whtth has priority uvcr (his Scan itt Insrunxnl, apptanng m
<br />court, paying reasonable attorneys fees and cinviingun ill(- Propcity nr make rcpan% Although Lcnder may take action
<br />under this paragraph 7, I.e•ntler dues not have n, do so
<br />Any amounts disbursed by Lcnder under this paragraph Shall bcunnc ad,hoon,il dohs „f Bornowcr Se(med hs 11—
<br />Security Instrurncnt finless Borrower and Lender agree urother Ic•rnnof laynulit, ihrsr.lin'aums s11,111 hc.o inter(,%( lien,
<br />tilt cane of disbursement of the Note rate ant shall be payable, will) onere%t, 111-11 Iloilo r f rain Lcnder Io Burrow cl t rynesnny;
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