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<br />84 -- 006844
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<br />UNIFOR M COVENA NTS Borrower and Lender covenant and agree as follows:
<br />1. Payment of PrinelP411 aacl Interest; Prepayment aacll.ate Charga. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Not.: and any prepayment and late charges due under the Note.
<br />2. Fu" for Taxes aacl IJlSllranee. Subject to applicable law or to a written ....aiver 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 ("Fundll'~) cqualto
<br />one-twelfth of: (a) yearly taxes and asses.~ments which may attain priority over this Security Instrument; (b),.y~~ly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurancepremiult1S;Il~(~~~~!ly
<br />mortgage insurance premiums, if any. These ilems are called "escrow items." Lender may estimatclheFuh(kdue 011 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 accounts of which are insured or guaranteeclbrll~ ~r
<br />state agency (including Lender if Lender issuc:h an institution). Lender shall apply thcFu~ to,pay~~~,,~~
<br />Lender may nol charge for holding and applying the Funds, analyzing the account or vcrifyingthe, ClIgrq\Vj~;~
<br />Lender pays Borrower interesl on the Funds and applicable IllW permits Lender to make: suchadlarac:'Qc)tjre\1~~}~
<br />Lender niay agree in writing that intcrest shall be paid on the Funds. Unless an agreement is made or applicable I.""
<br />requires inlerest to he 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 ac:c:ounting of the Funds showing credils and debits to the Funds and I he
<br />purpose for which each debit to the Funds was made, The Funds are pledged as additional securily for the sums secured by
<br />this Security I nSlrumenl,
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to
<br />the due dates of the e.o;crow items, shall exceed the amount required 10 pay the escrow items when due. the CltCeliS shllU be.
<br />at Borrower's oplion. 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 t he 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 to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no latei'
<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 />applicalion a~ a credit against Ihe sums secured by this Security Instrument.
<br />3. Application of Pllyments. Unless applicable law provides olherwise, all payments received by Lender 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 2; fourth, to interest due; and last. to principal due.
<br />4. Charges; Liens. 8orr.ower shall pay alllaxes, assessments, charges. lines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Uorrower shall pay these obllgallons In the manner proVIded In paragraph l.. or II not paid tn that manner, Harrower s
<br />pay them on lime directly to the person owed payment. Borrower shall promptly furnish to Lender all nolkes of IImounts
<br />to be paid under this paragraph, If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borro.wer shall promplly discharge any lien which has priorily over this Security Instrument unless Borrower: (a)
<br />agrees m writmg to the payment oflheobligation sccured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by. or defends againsl enforcement of the lien in. legal proceedings which in the Lender's opinion operate to
<br />preventlhe enforcement of the lien or forfeilure of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement salisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any pan of
<br />the Properly is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying thc lien. Borrowcr shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of nolicc_
<br />5. Huard Insurance. Borrower shall kecp Ihe improvements now existing or hereafter erecled on Ihe Property
<br />insured against loss by lire. hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance, This insurance shall be mainlained in the amounts and for the periods that Lender requires_ The
<br />insurance carrier prm'iding the insurance shall be chosen by Borrower subject 10 Lendcr's approval which shall not be
<br />unreasonably withheld,
<br />All insurance policies and renewals shall be acceplable to Lender and shall include a slandard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. I f Lender requires. Borrower shall promptly give to Lender
<br />all receipts of paid premiums Imd renewalllotices. In the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender mllY make proof of loss if not made promptly by Borrower.
<br />Unless Lcnder and Borrower otherWise agree in writing, insurancc proceeds shall be applied 10 restoralion or repair
<br />of the Properly damaged, if Ihe restoration or repair is economically feasible and Lender's securily is 1I0t 1es.'\Cned. If the
<br />restoralion or reppjr is not economically feasible or Lender's security would be 1es.'\Cned. the insurance proceeds shall he
<br />applied 10 the sums secured by this Security Instrument, whether or nol then due. with any excess paid to Borrower, If
<br />Borrower abandons the Property. or does nol answer within 3D days a notice from Lender that the insurance carrier hilS
<br />oft'ered to sell Ie II claim, then Lender may colleel the insurance proceeds. Lender may use Ihe proceeds to repair or restore
<br />the Property or to pay sums 5ccured by this Securily Instrument, whether or notlhen due, The 30-day peri(m will begin
<br />wbellthe n(ltice is given.
<br />Unla~ Lender and Borrower otherwise agree in writing. any applicallon ofprnceeds 10 principal shall nol extend or
<br />pmtpone the due dale of the monlhly payments referred to in paragraphs IlInd 2 or change the amount of.he paymenls, If
<br />under paragraph 191he Property is acquired by Lender. Borrower's righttn allY insurance poliCIes IInd prncceds resullin/{
<br />from dlll1l3Je to the ProperlY prior to the acquisition shall pass tn tender tll Ihe exlelll of Ihe sums secun>d hy Ihis Sl'curily
<br />Inslrumenl immediately prior lothe acqUIsition,
<br />6. Pr_r\,alilln aad Malntenanee lIf Property; Leaseholds. Borrower ,hall lint d('SHOY. damage or subs'anllall~
<br />change lhe I'ropeny. allow the I'wperty to deteriorat(. or commit wasle, If tillS Seumty In,trument is on a lea.....hnld.
<br />Borwwer shall COlli ply wilh I he provisions of the lease. and If J)mrower a('lIulres f(,c 1111<. In the I'rupl'n y. the leasehnld alld
<br />f<< !itk shall nolmerge unless Lender agrees tn Ihe merger In wnting,
<br />7. Protee1ioft of I.enlle,'. Rlllhta in the I'roperty; :\tortRIIIIC Insurllnct'. If Il,'rrower falls '0 perform Ih"
<br />covenanls and agreements conlainl.>d mthls Securlly Instrumelll. or Iherl'IS a Ic/{ulpnlt.'e"Ihnfol thlll may sllllllli.:lllltly afkl'l
<br />tender's rights in the Pwpeny (su('h as II pmcceding 111 hanhul'tcy. prnhulc, for cnlldcnlllalll'n nr 1<' ('111'01"'" I,ll" or
<br />relulallonsJ. Ihen I.r~lIder IIllll' dn and pay lin ...hate"cr is 1l,'cesslIry 10 prnlecllhl' 'ait". of thc I'rof'Crly alld lend,'r's 1l1l11ls
<br />III 1m, Properly Il'n<kr', "cfinl" m"y II1dllde paying any sum, ,ecured hy a 1"'11 \\ 111..11 has pm'IIIY ,w('r IlllS s,"lIrtt\
<br />In<o,l'IIm.'III, ;Irpearlll~ In \.'o\lI'L pll~llIg reastlnahle lIlIomey,' f.,,,, alld elllerlnll tllllh,'l'ltlpt'rI~ It. lIla~t: 'I'palrs Altholl~h
<br />tender II",Y f,lk(' ,u-flOlIlIndl'l IhlS ram/lfl.ph 7, 1"'lId.,,- dOl's 1I0t hall' 10 d" '"
<br />I\II~' amount' ..hshur\tJd hy I.ender IIm"'r I hIS par a/iltllph 7 ,hall hcl:"lllt: 'llhllllOIl:l I tkht or 1I11lf"l1\\ ,'l "'l'lIlt'd h\ I h,s
<br />~unf)' IU!'ilrunu.'f11 '.1nl~'\ nHrro"'~r' and 1 ('oder" agrt~ 10 other Il'rnlS tlfraynll'nl. lltl"l' HHlnnnh '\IMII ht~~H IIIh'h"1 fl'11H
<br />Iht" dah.' of ~h,hur"M:~uh~t1f fit the Nnk fah' ;\11(1 ,halllw pa\"bk. \\'lth 1t1h'rl'!11. Up,ltl 'H\tllT fl"Pttl r t'ml"f '.1 U,lffll\\n
<br />fl'QU-ll_"'1.II'~ f1"'\<f11t'llt .
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