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<br />UNIFORM COVFNANTs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when clue
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due udder i he Note.
<br />2. Funds for Taxes and insurance. Subject to applicable law or to a written waiver by Lender. Borrower ~hall 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 co
<br />r one twelfth (if. (a) yearly taxes and assessments which may attain priority over this Security Instrument; (h) yearly
<br />r kasehold 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 due on the
<br />basis of current data and reasonable estimates of fut ure 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 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 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 ors the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to I he Funds was made. The Funds are pledged as 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 it)
<br />the due dates of the escrow items, shall exceed the amount required to pay the escroav items when due, the c,cc.w% %ball be.
<br />at Borrowers 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 fender.
<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 Properly is sold or acquired by [ender. 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 tinder
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; second. to prepayment charge due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due: and last, to principal due.
<br />4. Charges; LFens. Borrower shall pay all taxes, assessments, charges, tines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents. if my-
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if nol paid in that manner, Borrower %hall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notice% of amounts
<br />to he paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish u+ Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Horrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, (b) contests in good
<br />faith the lien by, or defends against enforcement of true lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Properly; or (c) secures from the holder of the hen an
<br />agreement satisfactory to Lender subordinating the lien to this Security instrument. If lender determines that any part of
<br />the Property is subject to a licit which may attain priority over this Security Instrument. Lender may gi%c Ihtrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the gtving of notice.
<br />S. Hazard Insurance. Borrower %hall keep the tmproi,eincnts now existing or hereafter erected (tit the Property
<br />insured against has by fire. hazards included within the term "extended coserage" and any other hazards fir which Lender
<br />requires insurance. This insurance %hall he manttained in the .mounts and for the pericnis that Lender requires The
<br />insurance carrier providing the insurance %hall he chosen by Ito.rrowcr .object to Lender's approval which ,hall not he
<br />unreasonably withheld.
<br />All insurance policies and renewals %hall he acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to lender
<br />all receipts of paid premiums and renewal notice. In the event of loss. 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 Bcrtowcr otherwise agree lit writing. insurance proceeds shall be applied to restoration or repair
<br />o f the Property damaged. if the restoration or repair is economically feasible and Lender's security 1% not le%encd. if the•
<br />restoration or repair is not economically feasible or L.ender'% security would be lessened, the insurance prcecd% %hall tic
<br />applied to the sums secured by this Security instrument, whether or not then (due, with any excess paid to Horrowcr. 11'
<br />Borrower abandon% the Property, or cities not answer vinhin 30 day% a notice from Lender that the insurance carrier has
<br />offered to seltle a claim, then lender may collect the m %urairwc prcced%. i ender may use the proceed% to repair or restore
<br />the Property or to pay sums securest by this Security In %trutneni, whether or not then due I he t0 -day perioxl will ixg:nr
<br />when the notice is given.
<br />Unlessi Lender and Borrower otherwise agree in writing, any application o +f pr+cerd% to principal shall not emend or
<br />postpone the due date of the monthly payment% referred tom paragraphs I and 2 or change the amo +uni of the paymcot% IF
<br />under paragraph Iw the Properly is acquired by Lender, Hotrower's right to any uI%ur.uacc pxdlcte% and prated. resultant:
<br />from damage to the Property prior to the acqui -in ion shall pass it) Lender to the c%Icnl o1 tllr,urll%,cctaur,i ht tht% Se, urtli,
<br />11I%Irumrnt imn►eJialedy prior ri the acquisition.
<br />6, Prreaerntion and Maiactissitce of Property; leaseholds. fk,rmwer shall nit Jetrry. darnage+,r %uh%tanually
<br />change the Property, allow the Irroperiy to deleriorale or cinnnn waste 11 run% 1e,na1ly Instrument 1% on a leawhold.
<br />Borrower shall comply with Ilie provisions oft he lease. end d lloitowet acqutrc%lic tale so the Properly. the 1ca,ehof 1 and
<br />(cc ilk %hall not merge unless Lendct agrees to Itic merger tit w'rhng.
<br />7. Protection of i.enderN Rights In the Pro►perty; Nlo lgagtc insurance• If Ilorrowcr t;uh% 1" perform Ow
<br />covenantsand agreement %conlallied alt 1111%Security instrument, or there is a legal pio.re,hng that nt.Iy ,lantieanlly .111-!
<br />Lcndcr'% right% ua the Property (such a% is prcccethng n► bankrupts:y, piobalc. tier .,,ndcnni.,hon or to ent1+rrc law% ,,I
<br />reEulauonts). Then L.cnder Ina) do and pay for whatever its nccc% %ary to protest the value of ncc I'lopci l% and 1 caul. i s r1 Ill,
<br />in the Property. Lender's action% may Include paying any %uni% %ecured by a licit tshl.h ha" Intorrn .,vet Ito, scrunit
<br />Instrument, appealing In court, paying reasonable attorney%' fees and cnienng on 111e 111opefty to make rep.or, Ahholli:h
<br />L Lender may take action under thm paragraph 1. Lender doc% not have to
<br />Arty attiounl%th%bursed by Lender under thi, p,tr :igraph '! sh,Ill lceo »te addt11onal dcht of flor;ourt w, urcd f,y On% °
<br />tiec:uraiy Ira %Irunicnl. Unlc%s Ntrowrr and I ender .tithe ro other Ic1111%o1 pm inclil. tltc%c.on., :ua, %11.111 laar merest Ho o!
<br />the (fair (if dt%but %entclu it the time' tali and %hall 1w payable. with inure %t. t1t•.+n not,' ti;,,a 1'11.1,•1 10 li,•or,..%di rs.
<br />reituc,!rnl' payrttrltt .
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