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<br />84 -006279
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<br />UNlfOR>.1 COVENANTS Borrower and Lender c(wenant and agree as follows'
<br />1. PIiI)"ment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptl) pay when due
<br />the pnnclpal of and mterest on the debt endenced by the Note and any prepayment and late charges due under the Note,
<br />2. FUBds for Taxes IlIKIIDS~lflmce. Subject to applicable law or to a wntten wam~l by Lender. Borrower shall pay
<br />10 Lender on the day momhiy payments are due under the Note, until the Note IS paId in full, a sum ("Funds") equal to
<br />0ne-Iweiflh of (a) yearly taxes and as!iCSSments which may attam priority (wer thIS Secunty Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, If any; (cl yearly hazard msurance premiums; and (d) yearly
<br />mortgage msurance prernwms. If any. These neros are called "escrow neros." Lender may estimate the Funds due on the
<br />baSIS of CUrrl'llt data lInd reasonable estimates offulure escrow neros.
<br />The Funds shall he held III an msmutlon the deposits or accounts of winch are msured or guaranteed by a federal or
<br />sUIte agency (mdudmg Lender If Lender IS such an institutIOn), Lender shat! apply the Funds 10 pay the escrow items.
<br />Lender mllY nol charge for holding and applying Ihe Funds, analyzing the account or verifying the escrow ilems, unless
<br />Lender pays Borrower mterest on the Funds and applicable law pemllts lender to make such a charge. Borrower and
<br />Lender may agrt"e ill wntmg that In' crest shall be paid on the Funds t:nles, an agreement is made or applicable law
<br />requires tOlerest to he paid, Lemler shall not be reqUIred to pay Borrower an\' mterest or earnings on the Funds. Lender
<br />shall gl\'e 10 Borrov;er, wnhout charge, an annual accountmg oflhe Funds sh('wlng credits and debits to Ihe Funds and the
<br />r'urpose for wh.ch each deblllO the Fund, was made, The Funds are pledged as addillonal security for the sums secured by
<br />thiS Secunty Inslrumenl
<br />If the amour:! of the Funds held by Lender. together with the fUlure monthly pa)'ments of Funds payable prior to
<br />the due dates of the escrow \lems. shall exceed I he amount requued 10 pay Ihe escrov; nems when due, the excess shall be,
<br />at Borrower', opllon. eIther promptly repaid 10 Borrower or credIted 10 Borrower on monthly payments of Funds. If the
<br />amount of [he Funds held b\' Lender IS not suffiCIent 10 pay the escrow Hems when due, Borrower shllll pay to Lender any
<br />amounl necessary to make up the ddiclency to one or more payments as reqUired by Lender,
<br />Upon payment In fuli <,f all sum' secured by IhlS Secumy Instrument. Lender shllll promptly .efund to Borrower
<br />an y Funds held by Lender I f under paragraph I Q t he Property IS sold or acqUIred by Lender. Lender shall apply. no later
<br />lhan Immediately pnor 10 the sale of the Property or Its aCijUlsttton hy Lender. any Funds held b}' Lender at the time of
<br />application as a creda agamstthe ,urn, secured by thiS Secunt\ Instrument.
<br />3. ApplieatiClfl of Paymeuts, Unless apphcable la" pnw.des otherWIse. all payments received by Lender under
<br />paragraphs 1 and 2 shall he applied: first, 10 laIC 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. 10 principal due.
<br />4. Char-gn; Liens. Borrower shall pay alltaxcs. as~ments. charge.. fines and impositions allribuuble 10 the
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<br />Borrower shall pay these obligal1o'" m the manner prOVIded m paragraph 2. or if not paid ill that manner, Borrower shall
<br />pay Ihem on tlme dlre;;tly 10 the pe~on owed payment. Borrower shall promptl~' funush 10 Lender all notices ofamounts
<br />to be paId under thiS plIl'agraph. If Borrower makes these payments directly. Borrower shllll promptly furnish to Lender
<br />recelpts e"ldencmg the payments,
<br />Borrower shall promptl~ di!;;;harge any hen whIch has pnon!y over Ih;s Secunty Instrumenl unless Borrower: (a)
<br />agrees In wr:ung 10 Ihe payment of Ihe obhgal1on !oeCured by the lien In a manner IICCepUlble to Lender; (b) contests in good
<br />fauh the hen by. or defends agamst enforC(:ment of the hen m.legal proceedings which III the Lender's opinion operate to
<br />prevenl the enforcement of Ihe hen or forfellure of any part of Ihe Property; or (e) !oeCures from the holder of the lien an
<br />agreement sal1sfaclOry to Lender subordlnatmg the hen 10 thiS Secumy Instrument, If Lender determines that any part of
<br />the Property IS SubJ'CCI to a hen ....hlch may atUlm pnonty over thIS Secunty Instrument. Lender may give Borrower 1I
<br />notlce Idenllf~'ng Ihe hen Borrower shall satisfy the hen or take one or more of the 1IClions set fonn above within 10 days
<br />of the glvlOg of nollce
<br />S. Huant I_I1UICt!. Borrower shall keep the Improvemenls now existmg or hereafter erecled on the Property
<br />Insured against loss by tire. haurds mduded "'lIhm Ihe teon "extended cDverage" and any other hazards for which Lender
<br />requires Insurance. ThIs Insurance shall be mamtluned m the amounts and for Ihe periods that Lender requires. The
<br />Insuran,'e carner ;->TOvldmg Ihe Insurance shall he chosen \1y Borrower subject 10 Lender's approval which shall not be
<br />unreasonably \\'lIhheid.
<br />All msurance poliCies and renewals shall be acceptable 10 Lender and shall include a standard mortpte c~.
<br />Lender shall ha\'e the ngh! 10 hold the pohcle:\ and renewals, If Lender reqUires. Borrower shall promptly live to Lender
<br />all receipts of paid premIums IUld renewal notices, In the event of loss. Borrower shall live prompt notice to the i~
<br />c.arner IU1d Lender, Lender may make proof of 105s If not made promptly by Borrower.
<br />Unless Lender and Borrower o! herwlse agree III writing. Insurance proceeds shall be applied to restoration or repe.ir
<br />of the Propeny damaged. If the restofauoo or repair IS economically feasible and Lender's security is not ~, If the
<br />rQlOratlon or repBlr .s no! economically feasible or Lender's seeunty "muld be lessened. the insurance ~ lIlu.Il be
<br />app!ied to lhe sums secured by lhls Secunty Instrument. whether Of not then due. ""ith any excess paid to Borrowa', If
<br />Borrower abanoons the Property. or does not answer WIthin 30 days a notice from Lender that the insurance ClI.I'ricr 11M
<br />ol'l"ered 10 !lellle a claim, t hen Lender ma~ collect the msurance proceeds, Lender mllY use the proceeds 10 repair or nmore
<br />the Property or tn pay sums !oeCured by IhlS Secunty Instrument, whelher or nOl then due, The 3Q.day period will bei1n
<br />...hen the notice IS ~I~en.
<br />L:fI~ Lender and Borrower olherwlse agree In wminl!:. any applica!ion of proceeds to principal shall not extend or
<br />~tponc the due dale of the monthly l'lI)'ments referred to in paragraphs I and 2 or change Ihe amount of tile pay'ffimts, If
<br />under para!):rapfl 1'1 tile Property IS acquued by Lender, Borrower's nght to any Insur.iInce policies and proceeds rC'Sulling
<br />from dlImllge to tile Property pnor I') I:. acqwSltlOn shall pass 10 Lender to the eXlent of the sums secured by this Security
<br />instrument ImmedIately pnor 10 the acqUISItion,
<br />iii. ~f"fliltiolllllKl VlailltmllJKe of Property; l..-IIolds. Borrower shall not destroy, darnallI.' or subStantially
<br />chan~e the PT0f't'r1y, a!:low the "ropeny !O deteriorate or com mil waste. If thiS Secunty Instrument is on It leasehold.
<br />Borrower shall comply '''lIh the l'H'nwms of the lease, and If B<>rTOwer acqulfes fee ntle to Ihe Property, the lC<Ud1old and
<br />fee lttle si'.all !',{'l mer,t 'unless l.ender allreo 10 Ihe merger In wntintl,
<br />"I, Protectioll fifE 1.aMr's Ripts in tM Property; ,to~ lllftraace. If Borrower fIlii, 10 perform the
<br />W~,~llAflh and ~,reement~ cOOlametl mlhl' SecUTII\' Inslrumenl. or there IS" le!!lSl pnKeedln!jt Ihal rnlS}' sitll1ificl!.ntly .!fect
<br />t.enikr', ngtm III lhe Property ('lll:h as a procct.'dmg lfl bllnkruptcy, prob<l!e. for comlemnallon or In enforce laws or
<br />regulau(m$J. fha, Lender rm" do and ray for whalner IS neC""SaT\' 10 prolecllllc value oflhe Property and Lender', rt!l;hls
<br />In the Property Lender', aclwns mllY ,"clade pd\'tng any 'u'''' ",cured ", a hen wlucl, IUI' pnomy ,wet lhi, Se,:urIly
<br />inMlumenl. appea TI nil l1li <our!, "a,lll, feMnn~l>ie alforncv, fee, "lid e!llerm~ l'rllhe 1'!I'rerh w make .er,un Aithou!I;h
<br />tender IIllll, take aclIpn under 'IH~ r"ra!lr~ph' Lende, do.", .",1 ha'e te. el.,,,,
<br />,"ny ~",nunh ;jl'hul',ed h l.,~ndc' under ,IllS para!!raph 7 ~hlllll:>e<:Olllf l1udtl,"nal,kl>t "1 &'npwer 'l',:ur",d b, lim
<br />~tH'Hr In:.tfu1ot"n, t,:nl~<q, B(lunv..er and Lender a~ftt In tither t(~fTn, nf ra~'rn{"nt. th~ ~lIlH}Untl., ~tUtJl hear IfltC'!'r",r "frnrn
<br />fhe dal(" l'l.f dt'~HJr'\e!rfH'n1 .11 {he '\ipie qUe and ."hall ht' P;H ahk, \\ uh lf1tcrC'\o.l. ,;t"\(~li :j(~tH:(' fr'_n1"~ ! ,.cndC'f fn B-<1HI:1Wer
<br />tM~u~stm~ fli\Hnent
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