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85-- 004?3 S
<br />UNIFORM CIA P.N.x \75 BOrYOWer.!rid Lender covenant aael agree: as
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Burrower ,hall pr„ inpily pay when duc
<br />the principal ofand interest on Itie debt evidenced by the Note and any prcpa)mcni arid late charge, due under the Noic.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a wrinen waiver by Lender. Borro%%ci shall pay
<br />io lender on the day monthly payments are due under the Nutt•, until rho Note is paid in full. a'urn ( "Fund, ") equal to
<br />one - twelfth of (a) yearly taxes and assessments which min :,Hain priority of r this Security Instnirnent (h) yearly
<br />leasehold Payments or ground rem% on the Propel€) if inv; (c) yearly hazard insurance prenuunis: and (d) yearly
<br />mortgage insurance premiums, if any. These items are called escrow nevus." Lender may estimate the Funds duc on the
<br />basis ofcurrent 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 agency (including Lender if Lender is such all 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 u, pay Borrower any interest or earnings on the Funds. lender
<br />shall give to Iliorrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose forwhich each debit to the Funds was made. The Funds arc pledged as addiliOnal 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 duc. the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payrn ms of Funds. if the
<br />amount of the Funds held by Lender is not sufficient ro 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. Lender.
<br />Upon payment in full of all sums secured by this Security Instrument. Lender ,hall prompth refund to Borrower
<br />any Funds held by Lender. If under paragraph 11) the Property is sold or acquired by I ender, Lender shall apply, no later
<br />than immediately prior to the sale of the Property for its acquisition by Lcndcr. any Funds held hq Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument
<br />3. Application of Payments. Unit- %% applicable law provides other%vise, all payments re•ceiyc'd by Lender tinder
<br />paragraphs 1 and '_ shall be applied: first. to late charges duc under the Note-. second, to prepayment charge's duc under flit
<br />NOte; third, to amounts payable under paragraph Z; fourth, to interest due: and last, to Principal dt1C.
<br />4. C7tarMn; Liens. Borrower shall pay all taxes, assessments. charges, fines and onpositions attributable to the
<br />Property which may attain priority over this Security instrument. and leasehold payment% or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2. or i not yard in t hat manner. Borrower shall
<br />pay them on time directly to the person owed payment Borrower shall prompth furnish to Lender all notices of amounts
<br />to be paid tinder 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 hen which has prionty Over tills Security Instrunncnr unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the hen in a manner acceptable to Lender. (h) contests in flood
<br />faith the lien by or defends against enforcement .,f the lien in, legal proceedings which in the Lcndcr', opinion, operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property: or (c) secure, from the holder of file lien an
<br />agreement satisfactory fo Lcndcr subordinating flit- hen to this Sccumv instrument if Lender determines that any part of
<br />the Property is subject it, a lien which may attain pnornv, over this Security. Instrument. lender may give Borrower a
<br />notice identifying the hen. B,rrower shall satisfy the hen rip take one ur more of the actions sci forth aho%c within !r) days
<br />of the giving of notice.
<br />5. Ilazard Inimrance. Borrower shall keep the improve'nicni, now cxi%ling nr hereafter erected on the Property
<br />insured against lo%s by hie. hazards Included suithrtt ]he term "Cxtcadcd co%c•ragc" and :any other hazards for which Lender
<br />requires insurance. This insurance shall he mamta,ned in the .unoun, and for rbc periods that Lcndcr rrgwrc's The
<br />insurance carrier proytdmg the Insurance shall he chosen by Brnrowcr sublet to Lender's ippro,,al witch shall not he
<br />unreasonably withheld
<br />All insurance policies and renewal% ,hall he acceptable to I.c•ndci and ,hall include a standard mortgage clause
<br />Lender shall have the right to hold the policies and renewals If Lender requires. Boirowcr shall piomptlt eio.c to Lender
<br />all receipts of paid premium%and renewal notices. In the event of loss, Borrower shall got- prompt nonce to the in,ur.encc
<br />earner and Lender. Lender may make pr(tuf of loss loot rnade promptly by Borrower.
<br />Unless Lender and Borrower tit herwIse agree rn writing• insurance proceeds shall he applied it) restoration or repair
<br />of the Property damaged, if the restoraton nr repair is economically feasible and I eider's security is not lessened. If the
<br />restoration or repair f% not economically feasible or Lcndcr'% sc'unty would fx fe%sc fed, the insurance pti+cceds shall he
<br />applied to the sums secured by this Security Instrumeni, whether or not then due, with any exec's paid to Bnrowcr. If
<br />Borrower abandons the Property, or does nut answer within 30 days a notice front Lender that the Insurance carrier has
<br />(Atered to settle a claim, then Lender may collect the insurance pr coeds Lcndcr Ina y use the pre cods I,) repair or restore
<br />the Property or to pay aunts secured by this Security instrument, whether or not then duc. I he 10•day penod will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwt %c agree in writing, any application of proceed, to principal shall not extend or
<br />postpone the due datcof the monthly payments referred it) tit paragraphs. I and -, or'fiange the amount of the payment, If
<br />under paragraph 114 the Property is acgturcd by Lender. Borrower's right to any Insurance policies arid proceeds resuititig
<br />from damasc to the Property prior to the acquisition shall pas it lender It the extent of the sunt%,ecured by this Security
<br />Insirumcni iminediatcl., prior to the acqui%nio.n
<br />6. Preservation and Maintenance of Property: Leaseholds. Borrowci %hall tint destroy, damacc n ,u!„tanr:,liv
<br />change the, Property, allow the Frroprrty to deteriorate or coninut waste 11 flit, scrums In,uurnrn( I, +ai ., !c :,,ch,'id.
<br />Borrower %hall comply with the pmvanns of the )rase. and If Borrower a.yuirr%fie fide it, file i'r „per rc. the leasehold :mil
<br />fee title shall not merge unit's% I. ender agrees to the merger m w rot mg.
<br />7. Protection of L.cader's nights in the Property: Mortgage Insurance. li H, +Ii,,tvct tails h+ pert ,1111 the
<br />Crryenati €sand agreement, contained in Iht%Securi1% In%Irumcnf. or there ]%;I icrtal {+r„ccrdm f i };a! nisi_. ,Ifnitic.intly ., +.fret
<br />Lender's rights in the Property 1 %tech a%.1 pmccedtng in hankruplc). pf "hate. +r ::;m,icnocu.,ai ; i r,, i'nte'r :C law, '•r
<br />regulations), then Lender may do and pay for whatever i%nece%%ary n+pmtect Tile ,glue rr'fhc 1'10perfy ,,nit l Cuter , rtt iu,
<br />in the Property I eridrr', actim1% may Include paying any %um, secured by .i h'ii which 11;11 1'710111t litVf this's%•,url%
<br />Instrument. appealing rot c(aurt, paving reasnablc att•xrrcys' fees acid rntcintg. m the propcn, tr.,tiake re•p :its 4lthourl,
<br />I.. ender may take a'frt.ir: o:nder this paragraph ', Lcndcr Lims root ha,e to do s�I
<br />Any aar'unis dt %hur,cd hi I.cndvi under 1111, paragraph' hal! be, I•ni, .addo l;.1i rapt ,•f B„I to it,l ,r, unvl b, I!v,
<br />Se, urn lnatrueneiii t tile-NN B„ro,wcr . mid teoeter :iv, - ,, -itict 1 r,.,v !tit in.._.n :,.!n01h�,izr._1i•• 1,,I�
<br />flit dale of dt %hursenwil: ai It, i.nc and h,. i,r ;,,nehi,. oil!, rip;": ;I .t: u .a ;. It;.,
<br />r eq ue%r m a pay men,, i
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