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485-.. V 6 Z ~ O
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall 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 tit
<br />one - twelfth of; (a) yearly taxes and assessments which may attain priority over this Security Instrument; (h) 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 may estimate the Funds due 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 an institution). Lender shall apply the Funds to pay rile 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 on the Funds I. ender
<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 the Funds was made. The Funds are pledged as additional security for• the turns secured i;y
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future m(,,nthl% payments of Funds payable prior to
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow item, when due. the excess shall 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 co 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 shall promptly refund in Borrower
<br />any Funds held by Lender. if under paragraph 19 the Property is sold or acquired by Lender. Lender .hall 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 payment, received b% Lender under
<br />paragraphs I and 2 shall he 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, to principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charge,, fines and impoorion, atfnhut able to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents. if arty
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid to that manner, Borruwcr shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices o`, amounts
<br />to he paid under this paragraph. If Borrower makes these payments directly. Borrower ;hall promptly furm,h t„ Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has prioruy over this Security Instrument unless Borrower !a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptahle u, Lender th) conlest, to eood
<br />faith the hen by, or defends against enforcement of the lien in, legal proceedings winch In the Lender', opinion opera-lc to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property: or ic) ,ecures from the holder of the !;on an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determmcs that am part .,f
<br />the Property is subject tc a lien which may attain priority over this Securny Instrument. Lender ma, _nc Borrn+cr
<br />.:
<br />notice Identifying the lien. Borrower shall satisfy the hen or take one ur more of the acnun „et forth at-41%c within i0 days
<br />of the giving of notice.
<br />5. Hazard Insurance. Borrower shall keep the improsemenis now elostrrg mr hereafter erected tort the 1'rnperl�
<br />insured against loss by fire, hazards included within the term "extended couerage•' and any +,ihcr haiaris t„r w hi,i, Londe:
<br />requires insurance. This insurance shall be maintained in the amount, and for ;tic perlods that I ender require, 1}tr
<br />insurance carrier providing the insurance shall be chosen by Borrower subject It: Lender', appri,,.,l which ,hall not he
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to ],ender and ,11,111 include a ,tand:,rd m+•r.eage ; iause
<br />Lender shall have the right to hold the policies and renewais. If Lender requires. Borioucr shall prrmptlo ,11• --C It' i.cnder
<br />all receipts of paid premiums arid renewal notices. In the event „f loss, Borrower ,hall 4i%c• prompt m,ucc t+, the• nt,urancc•
<br />carrier and Lender. Lender may make proof of loss if not made promptly ht. Burre•wer
<br />Unless Lender and Borrower otherwise agree m writing, insurances pn,cced, ,hall be applied t„ it-,rotaiwri or rep:.Ir
<br />of the. Property damaged, if the restoration or repair is economically leas,hlc and i ender', %canny 11 not Icurnrd if Ill(-
<br />restoration or repair is not economically feasible or Lcndcr's ,counts would be Ics,encd. file insurance proceed, ,hall he
<br />applied to the sums secured by this Security Instrument, whether or' nor then dui', wr!I' any execs, paid t+, Borrower it
<br />Borrower abandons [he Property, or dtxs riot answer within 30 day, a notice from Lender that the tn,utance carrier ha,
<br />offered to settle a claim, then Lender may collect rile Insurance proceeds. Lender nray tic the proceeds i,, rctmit or rc,t„rc
<br />the Property' or to pay sums secured by this Security Instrument, whcthct of mot then duc 1 he• +0 -das pcnod moll hcem
<br />whirr t he notion is given.
<br />Unless Lender and Borrower otherwise agree its writing, any application r,t proceeds t,, principal ,hail ,,I cxt; rid „r
<br />pwstpt'lle the duc date of the tnonttth payments referred to in paragraphs I and -2 or c )r:ngt: the amount of the l,a,s n,cnt, It
<br />under paragraph 19 the Property Is acquired by Lender, Borrowrer's right t„ any n,surancc poh, te, .,rid pro'ced, w,uittric
<br />from damage to the Property prior to file acquisition shall pass to Lender to thr cxtcnt of tilt' still)„” tired I,t 0:1, <r, ur r,
<br />instrutneitt Immediately prior to the acgtsition
<br />6. Preservation and Maintenance of Property, i.raseholds. Borrower %hail n,d dc,uo +. ,ian,agc „ ,uh,t.enu,,Ily
<br />change the Property, allow the l'ropx:rty to dcicrioratc or cor iron waste it till, ,rcurrli il),ltu,nt•nl r, or, :, lrasrh+,ld.
<br />Borrower shall comply with tine provisions of the lease, and if Borrower a.qu,res t_•c 1111c I" thr l'n•pcns. ,he• leasehold and
<br />fee milcshall not merge tiniest. Lender agrees to the merger in writing.
<br />7, Protection of Lender's Rights in the Property; ;Mortgage Ilisurance. If Borr,wcr tail, to pciforn, i11c
<br />covenants and agiecrnenIscontaitied in this Security Instrument, or then „a Icltal prucccdn,g that ma. ,iI nrfi,;urth aikct
<br />*%
<br />Lender rights In the 1'roperly (such as a proceeding fn hankruptc•y, prohatc. I ,r +undcnunut.,n or , , ; nfoncr
<br />regular$('"%), then Lender Inay do and pay for whatever is necessary to pincer t l:c +: +!ur of rho Prmper t..md I rndci', r itisr,
<br />in the Property Lender's actions m v include paying any wnr, ,ccurcd by ;, tier, winch hu, l,noru, •„cr tilt,
<br />Instrument, apr.earmF
<br />rn court. p;nu,it fCHSi,ntIt11C atl,,rncy,' fret and cnte•rntp ml) tilt. i'rnpc;t, I„ make ,opal:, - \1111,,,,);1,
<br />Deride[ may take ac'iurn under Ihis paragraph 71 1Older duc' hair
<br />nor to doom
<br />Any anrnunn disbursed by Lender under tilt%paragraph ",hall )hr nor •nhluu,nal drht ,,i Idorr, , ++, „•, utcd I„ hi,
<br />!Stxurny Instrument t'nlc„ If(nr"wcr and l.cndcr a}trce tin other tc•rrn, of pa,rr,rnt stir,+ ,nnuint. 01.61 1', .1, nit, I-, ! .,,,,
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<br />she date +,f dt,hurscrnrnl al thr Vutc rare and 'hall tic p.,,ai,Ir, with intrr�,t. ��n n„!�,� 1. ,•�, it.....,,,,
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<br />rrquesmnk payment
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