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UNIFORM COyE:NA \TS. Borrower and Lender covenant and agree as follow.: 85--005105
<br />1. Payment of Priacipal and leteriest; Prepayment and Late Charges. Borrower .hall pnnnptI) pa) oNhcn duC
<br />the principal (if and interest on the debt evidenced by the Now and any prepayment and T ale sharers due under the Nole.
<br />2. Funds- for Taxes and Insurance. Subject to applicable law ortnaurittenVkaitcrha Iendcr.Borroucr,hallp :,�N
<br />to Lender on the day momhly payments are due under the Note. until the Note is paid in full, a sum ("l= utrds" t rquaJ It'
<br />j one- twelfih of: (a) yearly lazes and assessments which niay attain pnonly noer ;hi, Securil\ Instrument +h! %each
<br />leasehold payments err ground rents nn the Property, if any: (c) )'early hazard insurance premiums: and (di rl�
<br />mortgage insurance premiums, if any_ These items are called "escrow items. – Lender may estimate the Funds due oil 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 account s (if wit ch 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 -hail be paid on the Funds. Unless an agreement is made or applicable law
<br />requites interest toile paid, Lender shall not be required to pa) Borrower any interest or earnings ( +n the Funds. Lender
<br />shall give it) Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which cash debit to the Funds was made. The Funds are pledged a,, additional security for the sums secured n
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior :o
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow items wizen due. the excess shall he.
<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 required by Lender.
<br />Up payment in ful'I of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />Upon
<br />any Funds held by Lender. If under paragraph 1Q the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prim to the sale of the Property or its acquisition by Lender, any Funds held by Lender at t}le time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Applieatim of Payments. Unless applicable law provides otherwise. all payments received by Linder 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 1 fourth, to interest due: and last, to principal due.
<br />L. Liens, Borrower shall. pay all taxes, assessments, charges. fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument. and leasehold payments or ground rents. if any.
<br />Borrowershall 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 shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Under
<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 tothe payment ofthe obligation secured by the hen in a manner acceptable to Lender: (h) contests in good
<br />faith the lien by. or defends against enforcement of the lien in, legal procr- edings which in the Lender",, opinion operate to
<br />present the enforcement of the lien or forfeiture of any part of the Property: or (c) secures from the bolder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part .)t
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower i
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth ah„t c whom 1't der) s
<br />of the giving of notice.
<br />S. Hamrd Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "cxlendeL ,o%cragc" and am other hazards for which Lender
<br />requires insurance. This insurance shall he maintained in the amounts and for the lwTicxls that Lender requires. The
<br />insurance earner providing, the insurance shall be chosen by Borrower sut,.tccl to Lender's approval which shall not tic
<br />unreasonably withheld -
<br />.A11 insurance policies and renewals shall he acceptable to Lender and shall include a standard morteage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Bono xcr stall promptly gt1G to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss. Borrower %hail ene• prompt notice to thc: atsurancC
<br />carrier and Lender. Lender may make pro of of loss if not made promptly h) Borrower.
<br />Unless Lender and Borrower otherwise agree to writing, insurance prakecds -hail he applied to restotauon oT repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security i, not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would bc• lessened. the insurance proireds shall he
<br />applied to the sums secured by this Security instrument. whether or not then due, wilti any excess paid to Borrower. If
<br />Borrower abandons the Property. or does not answer within :(l days a nonce front Lender that the Insurance carrier has
<br />offered to settle a claim, then Lender ma) collect the insurance proceeds. Lender ma) use the prakceds to repair or rc'.tore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due 7 he 10 -day period will begin
<br />when the notice is given.
<br />Unless lender and Borrower otherwise agree in writing, any application of proceeds to principal shall col rxtc 1 , +r
<br />postpotne the due date of the monthly payments referred io in paragraphs 1 and _' or :hang, the amount of the payments. If
<br />under paragraph I the Property is acquired by Lender, Borrower's right to any Insurancc policies and proceeds resuitmc
<br />from damage to the Property prior to the ac•quisiiiom shall pass to Lender to the• extent r+f the sums secured b) this SecuI II%
<br />Instrument immediately pri or to the acquisition.
<br />i. Preserratiom and Maintenance cif Property'; i.easeir.,lds. Borrower shall n,a dcsu,+). d,wia;;r ov suhst.un ; :r ;h
<br />change the Properly, allow the Property to deteriorate or eor»tnn waste 1f ibis "Cl L21 1+•s'r umcnt is +m a '.casdwo d.
<br />&+mower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in w sting.
<br />7. Pratectitm of Leader's Rights in the Property: Mortgage Insurance. If Borrower tails t., per(otm !hc
<br />covenants and agreements contained in this Secunt) lnstrurncnt. or then• is a kcal tun :ecdmg that ttta) *tcurlicenlly alli•a
<br />Lende 'k rights in the proIxity (such as a proceeding: in hanktuptc). probat:, for :oIldC1tIIjl it'll of ti+ Cnfor:C laws or
<br />regulaticros), it Lender may do and pay for whatever is nece-ary ti +protect the value of the 1'roprtt) and 1 c•nde•I's ric ill I
<br />in the Prerperiy- Lclider's actions ma) Include paying ant sums se :ured M e lice which has pnont) "% Cl !l+rs te:t:rltl
<br />L Instrument, appearing In court. paying reasurrableaticrrn-y, fee, and entering i +it thc• Pt+•pclIN I.� n, ake rcpa rs Nil 11, iu.01
<br />Lender ma) take action under this paragraph ?. 1 nder does nit IIA%e 10.10 so
<br />Any amounts d »hurled h) Lendei under this paragraph' shall hc:oolc adchn +,riai i ;. nt d Iii n "..: i sa it
<br />Security Insirunicnl Ulillcss iorraawcr and l ender acre: i. -11) cr terms p,i�rrur .these. +tt rut h�.r u
<br />the date of dtsbutwtnetit al 'be 's, -le talc and shall tic 1ea�ahlt% No ah rtttrlc"t. '1 :',,. I ,!.
<br />teyuesttrlg pa)rncnl
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