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UX1FOKN Ce7yE%A\ 15 Borrower and Lender covenant and agree as follow'-
<br />1. Payment of Principal and Interest; Prepayment and late Charges. Burrower 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. Futuis for Taxes sad Insurance. Suhject to applicable law or to a w raters waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under the time. until the Note is paid in full, a sum ("Funds ") equal to
<br />one- twelfth of: (a) yearly taxes and assessments which ma) attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rent% 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 ofcurrent data and reasonable estimates of future escrow item%.
<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 agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />!..ender 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 be paid on the Funds Unles% an agreement is made or applicable law
<br />requires interest to he paid, Lender shall not be required to pay Borrower any interest or earnings on she Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credit% and debits to the Funds and the
<br />purpose for w hich t.-ach 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 hems. 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 niorithiy payments of Funds. if the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow item% when due. Borrower shall pay to Lender any
<br />amount necessary it) make up the deficiency in one or more payment%as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument, lender %hall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall :apply no later
<br />than immediately prior to the sate of the Property or its acquisition by Lender. any Funds held by Lender at the time of
<br />application a% a credit against the sums secured by chi% Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwt %e, all payments recei %cd by Lender under
<br />paragraph% f and 2 shall be applied: first, io late charges due under the Note' second, to prepayment charges due under the
<br />'vote; third, to amounts payable under paragraph 2: fourth, to interest due: and last, to principal clue.
<br />4. C'laarges; Liens. Borrower %ball pay all taxes, assessments. charges, fine% and impositions annhuiahle 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 uhligations 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 furnl%h to Lender all into%% -% of.unounts
<br />To he paid under chi% paragraph. if Borrower make•% these payment, direcil%. Borrower shall promptly furnish I(, Lender
<br />receipts evidencing the payment %.
<br />Borrower %hall promptly discharge any lien which has priority (,9ei this Securn% Instrument wiles Borrower: lal
<br />agrees in writing to the payment of the obligation secured by the lien of it manner acceptable 1,1 1.: rider. (ht contests m cotol
<br />faith the lien by, or defends against enforcenent of the hen in• legal proceedmg% which m the Lender'%upmion operate to
<br />prevent the enforcement of the Ileri Of forfeiture of any part ot'the Property:.,r (c) secure•% from the holder of the hen an
<br />agreement satisfactory to tender subordinating the lien to this Security Instrument, It Lcnder determine•% that any pall of
<br />the Property i% %uhjec[ to a lien which may attain priority over this Security Instrument. !.ender may gi%c Borr„wer a
<br />nom:% identifying the hen. Borrower %halt satisfy the hen or take one or mare of the action% set Itrrth atione within Iii clay%
<br />,if the gn mg of notice
<br />S. Hazard Insurance. B,riower ,hill keep the imprte,ctr nts nttw %+twirl% or i:Cr,-aftcr %•rectal :,n the !'toiler!:
<br />in%uttd ag:noo Itn%M tire, hazards included within the term •'rxtcndcd >%er.age' .erid alt% other hazards for winch Lcnder
<br />requires insurance Tht% inwraarice shall .1w noamianied in the irrimillis .inn flu the Ixrwds that Lender requires the
<br />insurance carrier prottlding the insurance shall ',r chosen h_, Borrower whtect to I alder's tppro %al %Omfi %hall nc,t he
<br />unrCiv,onahly withheld
<br />All insurance p%olicie% and renewals shall ire Aa i.Cpt,lhlC to I L-MICt :old %hail mcludC a %tandard nmorlFagc ; leusc
<br />Lender shall have the right to hold she paohcies and renewal% If Lender icquires. Borrower hail pr(mipily lien to I ender
<br />.dl recelpt%of paid premiums and rtarwal notices In the e%ent ,t( loss. Borrower %hall ,a,e proailot notice t., the in%urame
<br />carrier and lender Lender may stake pros of loss if not made prrn;lth h% B rrowc•r
<br />Unless Lender and Borrower otherwr%e agree in wroing, inuraMc prI cet•tl% shall lie :applied r, re.tur.mun or repa:1
<br />of the Property damaged, if the restoration or repair is economically feauhle and Lender's %%•curl!% is not lessened If the
<br />rttitoratttws or repair is not economically feasible or Lender's secuntt, wouhi he ie %word, lilt insurance proceed% 011111 tie
<br />applied to the %um% secured ',% this 4 %:urity Instrument, whether or not then duo. wait city rsccss paid to llorrow,�r It
<br />Borrower ahandon% the Property, or doles not answer %%Ilhtn +(t days a nottcc (roni 1 ender that the m %urimce carrier ha%
<br />o(ferod to settle a cl airn, then Lcnder may collect the insuran,:c proceeds Lcnder may use the proceeds to repair .n restore•
<br />the Property or u, pay sum% secured by this Security lit%trument. whether :,r riot then dlac !lie 10 d:n period wall tlegin
<br />whet; the notice i% given
<br />Un"% Lender and Borrower othet oo t agree ill a riling, any application of pr,, reds to principal shall not r%ttnd ,u
<br />pomptime the duetlate of the monthly payments Iefcrtcd fit Ill paragraphs 1 and .'..0 , h:angc the :unouni of the pa,, menu it
<br />udder lrsragraph tU the Property is acguirel by Lender. Borrowers right It, any insurance 1> ,lien% and pr„tec•ds icsulimi:
<br />from damage so the Property prior Ili the acquisition shall pass to Lcnder fro the C%icnt ill she %inn% wcurcd ht, this Security
<br />It»lrunicnt immedia(ely prior to the ac•qui%ition
<br />6. Preservation and %Imintenance of Properly; Leasehold%. L.rr.,%eei •.f..,ii 1. •i ,tr%r,,y. ,t.un:a t, st,v,ti,li%
<br />change the Property, allow the Property Io de(eriorate or commit w,tsic II ;lit, 'se, ::r l!% ili'llunicnl 1s -1 ,1'ra.e1r•Ia.
<br />iioftower shall roolpl.s witll [lie pro%r%rolts of the lease. and it Ifoi rnwrr ,icy ;ores fee• bile 1,1 the• PrnlM ty . the IC:wCIIAII .1141
<br />fee
<br />title. shall not lncrgc uirlrss Lrnder agrees to the merger to writing
<br />7• Protection of l.ettder'it Rights, in the Propert); Storiltage Insurance. It 11"ll owrr 'all, r, prrh•rnl Ow
<br />t OVCnAn i%Arid agreelroerily 01114311leYd Ill ii11%kcur I iy 111%11 inner I. „I Otero: 1%.1 ioe'al ;,trs t'rd t li �, =hall ^, % I d t 101,: ,11111\ .I II t'.I
<br />I,4o%ki'% right% in the Property 1%uch a% a fro eedtnp. in hauktuplre, piotmty, !,a n,nticnm.ulon o. t., nfntcr !:,w.. .
<br />regulalltm%), Iflor" 1.etlder niAN di, $rid pay for wllalcyCr is ntiessar% t., 1110tccl Ow %slur .,t the Prq,rr s>, ,01,1 1 rntici I, i "It! r,
<br />Ili she Property lender's ,ections may include payroll ,any sum% sct,urcd h% a !wn whrrh bus I•ii.n.!% .,%rt lhn %%„idle
<br />Illstrumenl. appenrsngInkotitt. i,4 mii tvasondilc allot lle,,\ ive %:fiid ellt('ri4t1 .,o 0%,, Vr,prrt% t, n:aki •rl,.in \F; h. u�tP
<br />L i rntlermAII, y lake aEtu,n under 1111%1,araltraph 7, I ender div% m.1 hate t., ilo so
<br />Ali} ar *iuuto %distrlirsrd by I i n,la t undrr'his p.trav,1. 11,11 ' 01:10 be-11111 .r,Idilt.,l.n "kill ill ,,t li..r, "sort ..-t ,a+cd I'% rhj.
<br />owcal,irfly I"Ilutritrlt I tales% lft,i !Act tint I ender wlcr r:, •,111x1 !!culls ill t,.a %17r 111. th, .,. .in '.,.._, .! ii: tu.11 "0, .C,•. 't ,.,,
<br />the date -4 r.lithia" flirrlr it 6hr Y1.9c• ta-rr d,td 4he!l t,,- r.v..Il,le. w.fi 1,1, 1 r
<br />^rOtis ° %l.ng § +acllxrnt -
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