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<br />85-- 1002046
<br />Utitr< »n7 Covp,'vAN rS Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a writtc- -..e.r by L. ender, Borrower shall pay
<br />to Lender on the day monthly payments are due tinder the Note, until the Note is pa:d in full, a sum ( "Funds ") equal to
<br />one - twelfth of: (a) yearly tales and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments of 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 due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Fundy, shall be held in an institution the deposits or accounts of which are insured or guaranteed lby a frucra% iii
<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 permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall he paid on the Funds. L'i?less 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 shoeving credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The hinds are pledged as additional security for the sums secured by
<br />this Security instrument.
<br />If the amount of the Hunts held h% 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 excess shall be,
<br />:at Borrower's option, either promptly repaid to Burrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender I,, nor sulrcrent to pay the escrow items when due. Borrower shall pay to Lender any
<br />amount necessary to make up the cicti,:iency In 011V ur more payments as required by Lender.
<br />Upon payment to full of all .tart -, secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph IQ the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior to the sale o' the Property or its acyuistiron by I_crider. am Funds held by Lender at the time of
<br />application as a credit against the sums sccured by this Security Instrurnerir
<br />3. Application of Payments. L niess applicable law prmidc, iticrwrse. all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied fir.t. to amounts nay lblce *ndh —,r paragraph ; sece�nd, to interest
<br />due; and last, to principal 'Ue,
<br />4. Charges; Liens. Borrower ,hall pay all taxes. assessn,cnts, charges, tines and impositions attributable to the
<br />Property which may attain pnnntI over tills Security instrument, :and leasehold payments or ground rents, if any.
<br />Borrower shall pay these- obilgatlons u, the manner provided in paragraph it 'not paid in that manner, Borrower shall
<br />pay them on time directly to the person owed pay rrlcnt. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly rise hargc coat, hen which has priority ot, l this Serurit\ Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the ohlivation secured by the lien In a manner acceptable to Leader: (h) contests in good
<br />faith the lien by, or defends against enforcement cif the hen in, legal proceedings which in the L.ender's opinion operate to
<br />prevent the enforcement of the hen or forfeiture of any part of the Property_ .it, (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender ,ubordinating the hen to this Security Instrument. if Lender determines that any part of
<br />the Property is subject to a lien which may attain priority over this Secunty Instrument. Lander may give Borrower a
<br />notice identifying the lien. Borrower ,hall satisfy tf;e hen or take one or more of, :actions sit forth above within In days of of the giving of notice.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected or; the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. ['his insurance shall fie maintained in the amounts sod for the periods that Leader requires The
<br />insurance carrier prosrding the insurance ,hall be chosen by Borrower suhicct tt, I ender's approval which shalt not he
<br />unreasonably withheld
<br />All insurance policles anef renewals shall he acceptable to Lender alit! ,hall Include ,I ,landard mortgage clause
<br />Lender shall have the right to hold the policies and rellewais. If Lender re(fmres. Borrower shall promptly give to Gender
<br />all receipts of paid premlurtas and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance.
<br />carrier and Lender. I ender may make pfoof of loss If not ►nadc promptly b. Borrower
<br />Unless Lender and Borrower otherwise agree in writing. insuraancc Iroceeds shall he applied to restoration or repair
<br />t,f the Property darnaged, if the resiorratu,n or repair Is economacalfy Aeaslhlc and Lender's security is not lessened If-tile
<br />restoration or repall is not economically fe asiblc or Lender's security would he lessened, the insurance proceeds shall he
<br />applied to the sums secured by this Security instrument. vehether or not then duc, with any excess paid to Borrower. if
<br />Borrower ahan(lons the Property, ttr (ft),,s nt }t answer within, A0 da\ti a III,!I c• front I ender that the insurance carrier has
<br />offered to sclIle:a cfa,tn, then I ender may ,_t,ilo: t the n;suralaca' pr tl, I cock! matt use the• proceeds to repair or restoic
<br />tilt Prop= ^rty (it tl p,jy, .tntas Wetircd be iii. Security Insrrurlicnt..o !let her t,r not then .f lie _ The +0 -day period es III begin
<br />whcrs ncc notice Es gleci:
<br />L'ssl < °ss f coda and Borrower othcrev,se WT cc, ui et, Thing, ml I, application of,proce:•ds to principal shall trot extend of
<br />fNssr till >lic the due date c+fthc ruonihIs I It,nt,-nrs t(AerIcd tI, In har.rgr11,hs 1 .and ' it C. h;snge t lie 'tniosu11 of the pavnictit, If
<br />ml(14 r p;ir:sgraph 11) the Property Is acyulrcd hi, i ender, Horn „vei', right It proceeds resultnte
<br />Im 1rt,t't l'I,ge to tilt• Aqul<I'lon shall pass lei I endel to f he t'.it 'IBt ,j tile' ,tllTi'. 1lC I.fr'ld by tills "w C11111%
<br />InstrtanlC'I }I Intlntdiafcf. pflt"l it, tilt''tltllli'"Mon
<br />f►. Presvrvation and Maintenance of Property; Leaiseholds. lioTtt��tI .��.Ili nt�t tft�s,rt +y. ,1,a,at;asc of suhst.,nt,:alle
<br />�haraa;c tht• Property, alla,vv tilt, 4'ratl3rrt�, h, d(Ii•llorate ttr "onnnll ,.astr It till, �tcurll. Ifl,,runtcnt Is on a leasehold.
<br />Llorr,,wer ,fa,all +,Ia{p1� "fill Iltc (rr[)L 1`,tt,I1,,I1 till' It ;ast'. Gild It lit 11 r, ter l'i ;ai,lilllt', fci Iltit, I," flat' l'i" cilk. the 1l':Isehold atilt
<br />Itc ilrll• shall not merge unless I (Aldc, ,op,rer. it, the merger rn wrttnal
<br />%. Protection of [,under *% Rights in the Property; Alortgiagv Insnrariev. 1f liorrowrf t,uls to p(rlolnl the
<br />+.attrstt ;ittd tf('Cln('til. ;a +Iti.,lilc(f In fill, �ecnllt� in,trialnrnt..tl fh(r� I`. ,1 I,psf I,r;,.:cittln�' iliac tP1:It .II'n11i an1i� ,ttic,'t
<br />i E'ICcflt a ?r�,tflt'o In fit(' PCtrp <:1iV, I,II.:h a, ,t I,J,t,:t _.iil1 111 hall it r,: pit. \. I�ti`i,,lle, ft,! it +Ildl'l1l ll,ll It +rl ai� tt, Platt +IC -t; 1.1 \i ^, .`t
<br />tlllaS,. +sl I fhcrl f t Lf.�r iu i1 (It,:Ind pay t,,; ,vhalr .(r i, necc•.,r : l „:Irtrtt file .,flue, +i the f'to,
<br />i I arty ant, I cIIcI , I I(
<br />I fit,• )'tr pr -,i t ;�n +lie`s a 11, 1W, nt,a, if IIdr paying; all ,tills „turr_ti by ,, Ilrn t,hl(h h,r� frlorlty tnl�l Ihts �ttsully
<br />Ilr,lrleTl Vic I Irf',Irlilj' Ill i ll I, Irrt4llE�! (t',1,! ilil�,i<'aIt{rint "+, (lit' +;tlltl C111t,111 ! c,Il till' I'lo"cIII, it lll,ii,e I,'I,.an. �Ifht,l,!'ll
<br />f a'ittft, r r,Ie't�t .4etSrrlllnlel('r thl"p.11.t,vl.11 11 f t'IIt1t'i t {tr °, rte
<br />�I1..rr _,Ilnl. ah,huf ,cti i,t (rntfrl ,ur,1;1 Ihr, 1,,tta�:Iahh ' .il,lll 1 < ,rut .,tf,Jttrr•nal ,lrtI rP a;i ,,�.;�1 ,,•, �. f I
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