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85
<br />003129
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. Paysiltsit of Principal and Intere,54 PreWyment
<br />acrd Late Borrower shall promptly pay when due
<br />the Principal of and interest on the debt evidenced by the Note and
<br />an
<br />2. Funds for Taxes and I y prepayment and waiver charges due under the Note.
<br />to Lender on the day monthly ��� Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />r y y Payments are due under the Note, until Note
<br />the is paid in full, a sum ( "Funds ") equal to
<br />one - twelfth Of- (a) yearly taxes send assessments which may attain priority over this Security Instrument; (b)
<br />h~�hoid Payments or ground rents on the
<br />yearly
<br />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
<br />bats of current data and
<br />reasonable estimates of future escrow items. due on the
<br />The Funds shall be held in an institution
<br />the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to
<br />Leader may not charge for holding the
<br />pay escrow items.
<br />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
<br />Lender may agree in writing that interest
<br />and
<br />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,
<br />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 as additional security for the
<br />this Security Instrument.
<br />sums secured by
<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
<br />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
<br />amount of the Funds held by Lender Funds.
<br />payments of If the
<br />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
<br />payments as required 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
<br />sold or 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
<br />application as a credit
<br />at the time of
<br />against the sums secured by this Security Instrument.
<br />3. Application of Payme"Is. Unless applicable law
<br />provides otherwise, all payments received by Lender under
<br />paragraphs 1 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 payable under paragraph 2; fourth, to interest
<br />due; and last, to principal due.
<br />4• Liens. Borrower shall Pay all taxes, assessments, charges, fines and impositions
<br />Property which may attain
<br />attributable to the
<br />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
<br />Pay them on time directly in that
<br />paid manner, Borrower shall
<br />to the Person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these directly,
<br />payments
<br />receipts evidencing the payments. Borrower shall promptly furnish to Lender
<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
<br />a 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
<br />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
<br />the Property is subject to lien
<br />AT
<br />a that any part of
<br />which may attain priority over this Security Instrument, Lender may- give
<br />notice identifying the lien. Borrower shall satisfy the lien or take
<br />of the giving of notice. one or more of the actions set forth above with nr10 days
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or bereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended
<br />coverage" and any other hazards for which Lender
<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 be chosen by Borrower
<br />unreasonably withheld. subject to Lender's a
<br />approval which shall not be
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage
<br />Lender shall have the right to hold the
<br />clause.
<br />policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of Paid premiums and renewal notices. In the event loss.
<br />of Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise
<br />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
<br />restoration or repair is not
<br />not lessened. if the
<br />economically feasible or iender's security would be lessened, the insurance proceeds shall he
<br />applied to the sums secured by this Security Instrument, whether
<br />or not then due, with any excess paid IBorrower. if
<br />&&rower abandons the Properly, or does not answer within 30 days a notice from Lender that the insura
<br />Offered to settle a claim, then Lender
<br />may collect the insurance proceeds. Lender m proceeds nee carrier has
<br />the Property or to pay sums secured by this Security instrument, whether or not th ay use the s to repair or restore
<br />when the notice is
<br />given. en due. The ;Orley period will begin
<br />Unkm Lender and Borrower otherwise
<br />agree in writing, any application of proceeds to principal shall not extend or
<br />Postpone the due date of the monthly payments referred to in paragraphs i and 2 or change the amount of the
<br />under Paragraph 19 the Property is acquired by
<br />payments. if
<br />Lender, Borrower's right to any insurance Policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums
<br />instrument immediately to
<br />prior the acquisition. secured by this security
<br />6• Preservation sad Mai "tesa"ce *(Property;
<br />LeaN11101415. Borrower shall not destroy, damage or substantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is
<br />Borrower shall comply with the leasehold.
<br />on a
<br />provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and
<br />fie title shall not merge unless Lender agrees to the merger in writing.
<br />7.
<br />Protectie" Of Leader's Ri" in the BW
<br />covomantsandagreentcntscrmtainedinthisSecurityinst umeM�t legal proceedingthaterraytsignitipantrl
<br />ci %a
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, yratTeht
<br />regulations), then Lender may do and P 'Y. probate, fire condemnation or to cnti,rcr laws or
<br />Pay far whatever is
<br />in the Property. necessary to protect the value of the Property and LL ^rider's rights
<br />Instrument, appearing in court,
<br />nt, app Lender's actions may include paying any sums srcutnl by a lien which has priority over
<br />this Se,�urity
<br />paying reasonable attorneys' fees and entering on the Property to make repairs ,►Ithouph
<br />Lender may take action under this paragraph 7, Lender does nor have
<br />lo do so.
<br />Any amounts disbursed by lender under this paragraph 7 shall become additional debt of Ilorrower
<br />Security Instrument. Unless Borrower
<br />secured by Ihn,
<br />and Lender agree to other terms of payment, nccw arnouttls shall tear n,tcrrst fronea
<br />the date of disbursement at the Note rate and shall be
<br />requesting payment. payable. with mirrest, upxm n,hcr ti +ttn I rn,lrr to livar,,, +<r
<br />
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