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<br />85-- 002'7.5
<br />l.!tvlt "a ►ftMCovN ANTS. &► rrawerandtendercovenantandagn •easfi►llows.
<br />1. Payment Of Principal and Interest; Prepayment and Late C iarRes. Borrower %hall promptly pay when clue
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and 1 » ►e charges due under the Note.
<br />2* Farads for Taxes send I
<br />Subject to applicable taw or to a writte-: t. %er by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is Paid in full, a sum ( "Funds ") equal to
<br />1 one- twelfth of: (a) yearly taxes and assessments which may attain priority over this Security instrument; (h) yearly
<br />1 i ho ?ld payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearl
<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 Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state a y (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lander may not charge for holding and applying the Fund.% 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. Unless an agreement is made or applicable law
<br />requires interest to be paid. Lender shall not he required to pay Borrower any interest or earnings on the Funds. Lender
<br />shah give to N)rrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged a% additional security for the sums secured by
<br />this Security Instrument.
<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 excess 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 +squired by Lender.
<br />Upon payment in full of all sums secured by this Security instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold ur acquired by 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• Applikation of Payments. Unless applicable law provides otherwise. all payments received by Lender under
<br />paragraphs i and 2 shall he applied: first, to amotmts payable under paragraph 2; second, to interest
<br />due; and last, to principal due.
<br />4• Charmes: Liens. Borrower shall pay all taxes, assessments, charges, hoes and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these Obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower shall
<br />Pay them on time directly to the person owed payment. Borrower `hall promptly furnish to Lender all notices of amounts
<br />to he 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 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 in a manner acceptable to Lender; (h) contests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proec- edings 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 from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security instrument. If Lender determines that an
<br />the Property is subject to a lien which may Y Bart of
<br />notice identifying the [ien. Borrower shall ,ate fy the lien ror take one or ore ref hea cttiens et forth above'with Borrower l® days
<br />of the giving of notice.
<br />S. Hated iasiranee, Borrower ,hall keep the improvements now existing or hereafter 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 insurance. This insurance %hall he maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance %hall he chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance polies and renewals shalt h
<br />Leader shall have acceptable to Lender and shall include a standard mortgage clause.
<br />e the right to hold the policies and renewals. If Lender requires, eq Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. in the event of toss, Borrower shall give prompt notice to the insurance
<br />carrier anti Lender. Lender may make pr(x)f Of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to 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 />reMmItion or repair is not economically fdi"W or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security instrument, whether or not then due. with any excess paid to Borrower. If
<br />abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restate
<br />the Property Of to pay sums secured by this Security Instrument, whether or not then due. The 30-day pefi will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceed` to principal shall not extend or
<br />postpcmc the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower'% right to any insurance policies and roceed%ulh
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sum p g
<br />Instrument immediately prior to the acquisition. % secured by this S% re , tilling
<br />6. Preservation and Maintenance of Property; I,ea'eholds. Borrower shall not destroy, damage Or sutntantialiy
<br />change the allco tpl allow the Property to deteriorate or commit waste. if this Security Instrument i% on a leasehold,
<br />Borrower %hall comply with the provisions Ofthc lease, and if Borrower acquires f -e title to the Property
<br />fee title shall not merge unless Lender agrees to the merger in writing. , the leasehold and
<br />7, Prate 11" of 1 's Rights in the Property; 'Mortolle Insurance. it Borrower fails to perform the
<br />covenants and agreements contained in this Sen:urity Instrument. or there i %,°a legal proceeding that may significantly affect
<br />Lender'% rights in the Property ( %uch as a proceeding in bankruptcy, probate, for condemnation Or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Pro ) I o and Fender's right r
<br />in the Property. Iender'% actions may include paying any sums secured by a [ien which Iran priority over this's ight
<br />Instrument. take ea do in a:ourt, i sya r9 ref %c1nahle attorneys' fees ;and entering On the Pro ttv to inake repairs
<br />. Although
<br />Lender may rake action under than l'a ►a litaph ?. I .ender dare% not have to do ,e
<br />Any at+oa►unt% eta %hursol by Lender timler this paragraph % shall het Ome additu►nal debt of I +rn ►suer urea by f ha%
<br />Security In %Iron ►ens. t[nlr%% F +rreswc^r ;inn, I ende r ragree to other terms Hof ome aerif. t""i'l Gehl "I' `hall er % interest from
<br />the (laic 14 di%hur%ernent at file dole r�arr ,incl "hall N' hay;it�[c:, with Fruer(�st. ufwao na�tirr ire +rti I enter to Borrower
<br />red %ring paymcrit
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