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86- 103697
<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows -
<br />l. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal ofand interest on the debt c-odenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Tames and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid to 61, a cum i "Funds") equal ::)
<br />one- twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument: (b) yearly
<br />leasehold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds clue on i he
<br />basis ofcurrent data and reasonable estimates of future escrow Items
<br />The Funds shall be held in an institution the deposits or accounts of which are ensured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow Items
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law Hermits Lender to make such a charge Borrower and
<br />Lender may agree in writing that 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 />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and dehits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured b%
<br />this Security Instrument.
<br />a
<br />If the amount of the Funds held by Lender, together with the future 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 excels shall be.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not sufficient 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 all sums secured by the% Security lnstrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender If under paragraph 19 the Property is sold or acquired b% Lender, Lender shall apply, no later
<br />than immediately prior to the sale of the Property 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. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied fine, to late charges due under the Note: second, O 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. Charges; Liens. Borrower shall pay all taxes• assenments. charges, tines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payment% or ground rents, of any
<br />Borrower shall pay these obligations in the manner provided Ito paragraph 2. or if not paid In that manner. Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptO furm,h it, Lender all notice•% of amounts
<br />to be paid under this paragraph If Borrower makes these payments directly. Borrower ,hall promptly furnish it, Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien AInch has priority over this Security Insntimenr unitss Borrowed (a)
<br />agrees to writing to the payment of the obligation secured by the lien Ina manner acceptable to lender. (b) contests in good
<br />faith the lien by, or defends against enforcement of the hen Iit, legal proceed w'hicIt in the I ender', opinion operate to
<br />prevent the enforcement of the hen or forfeit 0re of any part of ihr Property or icI sec ures. ftom ihr holder of the Itell aif
<br />agreement musfactory to lender uehcrdmating the hen to this Security Instrument If Lender deicnnlnrs that any part of
<br />the Property is subject to a hen which may attain priority o%er this Security Instrument, [ender nlay give Borrower a
<br />notice identify Ing the Iten &lrrowrr %h ail satisfy the hen or lake one or more of the Acn„n, set I:irth ahoyc within 10 dav%
<br />of i he giving of notice
<br />5. Hazard Insurance. B;rrower shall keep the dmpmvcmcnl, now existing or he'rcaticr erected on the Property'
<br />insured against loss by fire, hazard% included within the term "extended coverage" and any other hazards for which Lender
<br />requires msurancc This insurance shall be maintained in the arnoubfy and for the period% that I ender requires The
<br />insurance earner providing the insurance wall he chosen by Hurrnw'cr %uh)rcl to ! ender', approval which shall nut br
<br />unreasonably wiihheld
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<br />All msurancc poheirs and renewal, ,hail he. acceptable u, Lernler and shall Include a standard g
<br />mort g< i e clau,c
<br />Lender shall have the right to hold the pofl :ies and ref cv als. It Lender reglof•,, Btirru%vcf %hall prOITtpll% gl %e. lei 1. ender
<br />all receipts of paid premiums and renewal notices. In the event Of io,,. Btorr,,,%er %hall gi%c pioanpt notice to the Insurance
<br />carrierand Lender Lender may make proolfaf loss dnot made prornptl% by Brnn+wer
<br />Unless Lender and B rrowrr otherw'uc agree in writing, Insurance pro t•ed, .hall he applied to rruoration or rrpi.ir
<br />of the Property damaged, if the restoration or repair is econonucally teasihle Arid 1 ender', security is not lessened If the
<br />restoration or repair 1% not economically feasible (it Lender'% security would he Irs%cnrd. the Insurance proceeds shall Ix
<br />applied to the sums secured by this Securtip Instrument, whether or not then due, with any excess paid to Borrower If
<br />Borrower abandons the Property, or does not answer wtthln 30 day% a notice front Lender that the insurance carrier ha%
<br />offered to scale a claim, then I_endcr play collect the insurance pn,creds Lender may use the prtxecds to repair or restorr
<br />the Property nr to pay sum% secured by tilt% Secuni% Instrument, whether or not then due file +0-day period wdl begin
<br />when the notice is glsrn
<br />unless Lender and Borrower Otherwise agree in writing, any application of pr(kcc•ds to principal shall no: extend or
<br />postpone the due date of the monthly payments referred to in paragraphs i and _ nr change the amount of the payment. if
<br />under paragraph 19 the Property n acquired by Lender, Borrower's right to any insurance points% and pnicecd, resuiung
<br />from damage to the Property prior to the acqui'%m on shall pass It, 1 ender to the eerent of the ,urns scented h% chi% Secunt%
<br />Instrmneni immediately prior ro the acquisition
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower ,hall not de,tro%. danlagc i-r ,uh %iant!rally
<br />change the Property, silow !be Property (t, deteriorate ill cVmrnit wa%IC It till% lreurll\ lrl,Irtifnt'lll 1, on .I Ira,chold.
<br />Borrower shall comply with the :,ion, leas,
<br />prv,vl of the and If Borrower acgulrt.-, fee uric I,, the Pis pert%. the Ic.,srhold and
<br />fee title shall not merge unless I ender agrees to the merger fit w nnng
<br />7. Protection of Leader's Rights in the Property; Mortgage Insurance. P Borrower !ail, I,• perform the
<br />covenants and agreements contained in this Security ln%irurnent. or there :, a itgal pro ccdoir; that ma ,ig,l,hr,,nt11 ,till, t
<br />Lender's rights on the Property (such as a proeredmg in bankruptcy. tut
<br />pnohalr, ,undrmnanurt ,il I„ emote'• iaw, i t
<br />regulatluns), then f ender play do And pay for whatei er is necem-tr% to prolcet [lie ,ahlc of the Pr,,;x•rt, Arid I rndrr', r:gbl,
<br />m the Property L.endct'% %ctrons may include paying any %um,,ec, red t,% ;, 11ell ,stmt, nA, pti,iru, ..rr chi, tic, u,
<br />:u
<br />Instrument, appcarrng no %vurt. pas 1n4 rrasanabic attorney%' fees and entering „n ail, Pr ;'.11' li, ;,• make Ic;'ao, 1,11h.,tigh
<br />Leelder may take action ',
<br />under :hl , iragraph I ender dtr% n0, hair to coo %,,
<br />Any amounts droburscd M I ender under this paragraph -,hall hcc mo adz ?!1,<a:al .1. t ! ,d lion,
<br />Security Instrumrnr I rrirsv Bt?eri,wef afld Lt'rlder akfrr rn,ithrr trrm%oll ',,•ar
<br />aymrn�. Ifle•,c ur unt, .�,.o r, tirc,i !i.,ni
<br />the laic of di%bulu,nrni At thr ',:otc rate and %hall I>c pa.at lr w,lh ;etrrc,r ,t . , ,.. I , .•,. Ii,,,,, „o
<br />fts4a •sling pavu,en!
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