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85-" 0054. "0
<br />UNIFORM COV EVAN I S. Borrower and Lender covenant and agree as follows
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower ,hall promptly pap when due
<br />the principal ofand interest o i the debt evidenced by the Note and any prepayment and late chaI gcs due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicahle law or to a written waiver by Lender. Borrower shall pa%
<br />to Lender on the day monthly payments are due under the Note, until the 'Vote i, paid in Full, a sum ("Fund,••) equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security instrument: (h) cearh
<br />leasehold payments or ground rents on the Property, if .my, (c) ycarh hazard insurance prerniulns; and (d) nearly
<br />mortgage insurance premiums, if any. These items are called "escrow tens.•' Lender may estimate the Fund, due Lin the
<br />basis ofcurrent data and reasonable estimates of future escrow items.
<br />The Funds shall he 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 ,hall apply the Funds to pay tire e escro item,.
<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 all agreement is made or applicable law
<br />requires interest to be paid, Lender shall not be required m pay Borrower any interest or earning, Lill the Fund,. 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 which each debit to the 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 cif Funds pavahlc prior 1,) the due dates ofthe escrow items, shall exceed the amount required to pay the escrow items when due, tilt 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 item, when due. Borrower shall pay (o Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full ofall sums secured by this Security" instrument. Lender shall prtnnptiy refund to 13orr,,wcr
<br />any Funds held by Lender. If under paragraph 11) the Property is sold or acquired by Linder, Lender shall apply• n,) later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held be Lender at life rime 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 pay menu received by Lender under
<br />paragraphs I 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 due: and last. u) principal due.
<br />3, Charges; 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 />Borrower shall pay" these obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower ,hall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of am „ant,
<br />to he paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly fumsh Lit Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument allies, Borrower: (iO
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender: (h) contests rot good
<br />faith the lien by, or defends against enforcement o f t he lien in, legal proceedings which in the Lender's ,.pinion operate Lit
<br />prevent the enforcement of the lien or forfeiture of any part of the Property: or fc) secures from the holder of !fie lien an
<br />j agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that anv part ,,t
<br />the Property is subject to a lien which may attain priority over this Security instrument. Lender m4i. gnc Borrower ;a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set f0r-,h ahocc unfits it) dais
<br />of the giving of notice.
<br />S. Hazard insurance. Borrower shall keep the improvem. nos now cxi.une or hereafter crertcd ,tot the Property
<br />insured agai;tst loss by fire. hazards included within the term "extended cos eragc” and any other hazards si,r w his i Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender rcquirt%. ilic
<br />Insurance carrier providing the insurance shall to chosen hr Borrower ,uhtect io I •ndcr', appro\al which .h;ill coat he
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard morn acc clata,e
<br />Lender shall have the right to hold the policies and renewals. If lender requires. Borrowcr shall pionlpih give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall gne prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrowcr.
<br />Unless Lender and Borrower otherwise agree in writing, insuren x proceed, shall he applied to restormion or rcpair
<br />(,f the Property damaged, if the restoration or repair is economically feasible and Lender's secunty is not lessened, if the
<br />restoration or repair is not economically feasible or Lender's security would he lessened. the nlsurancc proceeds ,hall be
<br />applied to the suns secured by this Security Instrument, whether or not then due. wth arty excess paid to Borrower. if
<br />Borrower abandons the Property, or does not answer within 30 clays a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance pro Leeds. Lender stay use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument. whether or not then due The ?0•(i v period will lvgin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwisc agree in writing, :sly application of proceeds lit principal shall not extend or
<br />postpone the due date of ilne monthly payments referred to in paragraphs I and 2 or change the antounl ,,f the pavinenrs. If'
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any Insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass it, Lender u, the exlem of the sutras secured by this Secui its
<br />instrument immediately prior io the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, ;hiniage or suhst,inual)y
<br />change the Property, allow the Property to deteriorate or commit waste. If the Security Inslrumcnl i, on a leasehold.
<br />Borrower shall comply with rite provisions of the lease, and if Borrowcr acquires I've title to the Property. the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance. If' Borrower fail% to perform the
<br />covenants and agreements contained in this Security Instrument, or there is a legal po,ccecfmg that stay signiiicanth alfecl
<br />Lender's rights in the Property (such as a proceeding in hankruplcy, probate, for rondentnuion „r to cnthrcr laws or
<br />regulations), them Lender may do and pay for whatever is necessary to protect the ,:title of the Property and 1 cndcr's rrghrs
<br />in the Property. Lender's actions may include paying any suns seeure•d by ;i hen which has priority o%et till, secttrit
<br />Instrument, appearing in court, paying reasonable attorneys' fees and entering on flit- Property to make repairs Allilough
<br />L Lender may take action under this paragraph 7. Lender do><s not hake to do
<br />Any amours disbursed by 1 endcr under this paragraph 7 shall become add II I,nial drht of l3orri,wer secure,! by t lit s
<br />Security Instrument Unless Borrower and Leader agree to other terms of payrncnt those ;rrnounts %hall hear nuc•resi tram
<br />the (talc• of disbursement at the Note rate :in(] shall he p;tyahlc. watt uuerrsi. upon nn ;cr Iron I endcr 10 Ill uowri
<br />requesting paytncnl
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