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UNI FOR x4 COVENAN I s Borrower and Lender c:o%cnant and agree as follotys 85-006181-
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower ,hall promptly pay when due
<br />the principal ofand interest on the dcht evidenced by the Nore and am prep;) men, and late rhargcs slur under the Note.
<br />2. Funds for Taxes and insurance. Subject to applicable law or to a written wait cr by Lender. Horrotter shali pay
<br />to Lender on the day monthly payment~ ;ire due tinder the Note, until file Note is paid Tit iltll. a sum ("Fund.") equal to
<br />one- twelfth of (a) yearly tares and assessments which may attain priority over this Security Instrument: (b) yearly
<br />leasehold 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 nwy estirnale the Funds due on the
<br />basis of current 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 ;i federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow iicins.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verffying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such ;I charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreerent is made or applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing crccht, ind dchirs to the Funds and i hr
<br />purpose for which each debit to the Funds was trade. The Funds are pledged as additional security for the soffit, ,ecured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payment,. of Funds payable prior r,
<br />the due dales of the escrow items. shall exceed the amount required to pay the escrow items when due, the exaa.s shall h-.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Horrower on monthly pay menus of Funds iI the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow Items tt hen due. Borrower shall pay To Lcnd,_r any
<br />amount necessary to make up the deficiency in one or more payments ;is required by Lcndcr.
<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 Property is sold or acquired by I.cnder. Lender shall apply, no Inter
<br />than immediately prior to the sale of the Property or its acquisition by Lcndcr, any Funds held by Lender at ,hc nmc of
<br />application as a credit against the Sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherttise, all payments received by Lender under
<br />paragraphs 1 and 2 shall he applied: first, to late charges due under the Note: second, Io prcpat Tment charges due under the
<br />Note; third, toamowus payable under paragraph 2; fourth, to interest clue: and last, u, principal clue.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments. charges, fines and innposrt,ons atinhurahle to Ihc•
<br />Property which may, attain priority over this Security Instrument, and leasehold payments or ground rents. ,f any
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or ,f not paid Tit that milliner. Borrower shall
<br />Pay inem on time directly to the person owed payment. Borrower shall promptly furnish u• Lender al! notices of amounts
<br />to he paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish r, Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Burrower (ai
<br />agrees to writing to the payment of the obligation secured by the lien ui if manner acceptable to Lender: (h) contests ur good
<br />faith the lien by, or defends against enforcement of the lien m, legal proceedings which ,n the I- cndrr•s opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property: or (c) secures front the holder of the hen an
<br />agreement vali%factory to Lender subordinating the lien to this Security Instrument. If Linder dererlrnne, that any part of
<br />the Property is subject to a lien which ntay attain priority over this Security Instrument. Lcndcr may vitc Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of Ihc actions set G,ni1 above 1%1111111 10 days
<br />of the giving of notice.
<br />5. Ifarard Insurance. Borrower shall keep Ihc improvements lit c ctlsnnil or I-cal:rr rrcctol on the !'roper,%
<br />insured against loss by fire, hazards Included within the term "extended coventgc ' and any ur her hared, ion which i_endrr
<br />requires insurance. This insurance shall be maintained m the anrdunrs and for rhr periods that Lcndcr requires file
<br />insurance carrier providing the imurance shall be chosen by Borrower subject ,o I ender*, ippro\,t] ,,Inch shall not be
<br />unreasonably withheld
<br />All insurance policies anel renewals shall he acceptable to I ceder and shall include , 'i.intlard nwrtgage clause
<br />Lender shall hays the right to hold the policies and rencwa, fl• Lcndcr requires. Born -cr shall promptly hoc to Lender
<br />all receipts of paid premiums and renewal notices. In file event of loss, Burrower' shall crtc prompt notice to the fns :u once
<br />carrier and Lender. Lender stay make proofof loss if not made prornpth by % Borrower
<br />Unless Lender and Borrower otherwise agree in writing, insurance Procccds shall he applied to restoration or icpao
<br />of the Property damaged, if the restoration or repair is econonucally feasible and Lender's secunn h not les.ened II the
<br />restoration or repair Is not economically feasible or Lender's security would he le,scned. The inwrancc• proceeds shati t,c
<br />applied to the sums Secured by this Security Instrument• whether or not then clue, with any excess paid to Bortowcr it'
<br />Borrower abandons the Property, or does not answer within 30 clay% a notice front i ender that the Insurance corner has
<br />offered toseltle a claim, then Lender stay collect the insurance proceeds. I ender stay use fir pr,ceeels +o repair or rrs +our
<br />the Property or to pay .ants secured by this See ur'11) Instrument, whether or not ,hen due 1 1 1 e ?(, -day prnod ct III heI, Itl
<br />when the notice is given.
<br />Lfnlcss Lender and Borrower otherwsc al rce in writing, any apphcanon of proceed!, to I,nnciPal'hail n� a , \tend 'r
<br />postpone the due date of the monthly payments referred io rn paragraph,. I and 2 or change ; fie .nn'11111 of Ihc p.I} jnrni, II
<br />under paragraph 19 the Property, is acquired by Lcndcr. Hofrower's right Io:un ursurance pohcres and proceed, resu1nng
<br />from damage to life Property prior to the acquisition shall pass it) Lender it, the etfenl of f hr sums'ectncd ht fir„ ~,.till .) t
<br />insltutnent immediately prior to the acquisition
<br />6. Preservation and Maintenance of Property: Leaseholds. Horrower shill not dcsr„t. J.in1a r „r .t1h,:,dnr.ulf
<br />change the Property. allow Ihc Properly to deteriorate or connnn waste If Tin, ti -runts In,trunrdnt „ „n .i
<br />Borrower shall compiv wail the pIf,% %,,,ITS of the ICa.C. and if ilorrowc•r acquires fee Title to Ihc I'rop. fit . rile ieasehold and
<br />lec nlle 4half not merge unless Lender agrees to Ihc merger fn % rntntg
<br />7. Protection of Lender's Rights in the Property: 7vlorll;aae Insurance. It Itorr wcr fall, n, pttf •r1n the
<br />covenants ;nil agrecnferrt. contained
<br />sit this Security Imlrumcnt, or there is a Icgal proce -tine• Ui.11 n1,o 'i0nihcenjlt
<br />i cmdcr's right,, fn the Property (sic -h as a pr eecdrng nt h ;ankruPliy. proh;t,e, for ron(cmn.111on of lo'. nt ter I.iws m
<br />regulations). then I ender may doand Pay for whalcyer o nerc,.sary ro I•rolec, Ihc value f low I'ny+ci ty .Intl I coda's Twill,
<br />+n the Prop. ?rlv (.ender'% actions eta•, mcludle paying any Burris ,-cured by ,1 hen w11d11 has pnnrlrt rnrr this Srcunly
<br />Inrtr anaent, appeanfig 111 court. p;nymg reasonable allorncy,' fees tad enlen119, on the I'ropern to make r -p;nrs •\hhouith I pn
<br />!.ender may lake action under Ihn p nr rgreph '. 1 ender rocs not h:n c to dn'o
<br />Any aninunlsdshursed by I ender [littler tills paragraph ''boll br,omc aJdhiv,nal d"I'l �•I Houourr ,r, nit•d ht thj'
<br />Sti.urny Instrument I'n!csS Hottow -r and I cutler agrrc I,, other lcrni''•t I':onuvj h,•,r .in uni „hall )„ it iuj + :•,i l�,,n1
<br />ffic dhtr if tlwhurscnx'nt ,at the Val-_ rata •11111 ,11,111 h,� pat,thlr, with ntctc,i i,�,r n y,, I .,,fry II i�,dt, i
<br />r ylen hngpacrnrnt
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