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<br />84,.-- 006848
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<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal anclln1eres1; Prepayment lIacI Late Charges. Borrower shall promptly pay when due
<br />the rrincipal of and interest on the debt evidcoced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes lIacIlnsaraace. Subject to applicable IlIw orto awrittco waiver. by Lender , Borrower shall pay
<br />10 Lender on the day monthly payments are due under the Note, until the Note is paid in full, a..m("F~~9,efOItlI'l\~
<br />one-Iwelfth of: (a) yearly taxes and assessments which may attain priority over this Securityl~f\.\~t; (b .
<br />leasehold payments or ground rents on the Property; if any; (c) yearly hatllrd in5llran~ ~utltS;~',(~
<br />mortpge insurance premiums, irany. These items are called "escrow items." LCndermaYes1imatet~'F~~~
<br />basis of current data and reasonable estimates offutureesc;row Hems. ''-',
<br />The Funds shall be held in an institution the deposits or lICCounts of which are insured orllUaran~Rdbyll'
<br />state agency (inc:ludinl Lender if Lender is sueh an institution). Lender shall apply the Fundsto)\llly/t
<br />Lender may nol charge for holding and applying the Funds. analyzing the account orverifyillftlle
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to "!ake such..cc~' .. .... ,. '...... .'. ., ..,..
<br />Lender may agree in writing thl't interest shall be paid on the Funds. Unless an agreement is made or app~law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earninp on theF~nds.Lender
<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 securityforthc'tums secured by
<br />this Security Inslrument. .... ...."".. c.: .'.. '. ..
<br />If the amount of the Funds held by Lender, together with the fUIUre monthly paymcots of Funds payable prior to
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due. the exgessshallbe.
<br />at Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. 1fthe'
<br />amount of the Funds held by Lender is not sufficient to PllY the escrow items when due, Borrower shall pay to Letlderany
<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 Instrumenl, 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 shal1apply, rto later
<br />than immediately prior to the sale of the Property or its acquisilion by Lender, any Funds held by Lender at the lime of
<br />applicalion a.~ a credit against the sums secured by this Securily Inslrument.
<br />3. Application of PBy;:nents. Unless applicable law proVIdes otherwise, all payments 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, to principal due.
<br />I 4. Charges; Liens. Borrower shall pay all taxes, assessments. charges, fines and impositions attributable to lhe
<br />i Property which may attain priority over this Security Inslrument, and leasehold P41yments or ground renls, if any.
<br />~-----------Bon.ower.shallpay-theseOO!igat*,ffii.ifl-H;~-er-providethn-~;orlf1'forpatd in trnuifiiiilnct-;-&I'i'OW 11
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender ail notices of amounts
<br />to be paid under this paragraph. If Borrower makes these paymenls directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the paymenls.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees ill writIng to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith Ihe lien by. or defends against cnforcemenl of the lien in, legal proceedings which in the lender's opinion operale to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may attain priority over Ihis SecurilY Instrument. Lender mllY give Borrower II
<br />notice identifying lhe lien. Borrowe.. shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />5. Hazanllasannce. Borrower shall keep the improvements now ellisting or hereafter erected on Ihe Property
<br />insured against loss by fire. hazards included within the term "elllended coverage" and any olher hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounls and for the (lCriods that Lender requires, The
<br />insurance carrier providing the insurance shall he chosen by Borrower subject to Lender's approval which shall not he
<br />unreasonably withheld,
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage claUlle.
<br />Lender sllall have lhe right to hold Ihe policies and renewals. If Lender requires, Borrower shall promptly give 10 Lender
<br />all receipts of paid premiums and renewal notices. In the evenl of loss, Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may mllke proof ofloss ifnot made promptly by Borrower,
<br />Unless Lender and Borrowl'r otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Proper.y damaged. if the rC1>toration or repair is economically feasible and Lender's security is nOl lessened. If the
<br />restoration or ~epair is not economically fea.sible or Lender's security would be lessened. lhe insurance proceeds shall he
<br />applied to lhe SUIM secured by this Security Instrumenl, whether or not ihen due, with any ellcess paid to Borrower, If
<br />Borrower abandOl1lllhe Property, or dOt;!; not answer within 30 days a notice from Lender that the insurance carner has
<br />otrerod 10 settle a claim, then Lender may collecl the Insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Propeny or to pay sums secured by this Se1;urily Instrument, whether or not then due, The 30.day period will he~1I1
<br />when lhe notic:c iaSivc:n.
<br />Unl_ Lender and Borrowl:r otherwise agree in writing, any application of rroceeds to principal shall not extl'nd or
<br />postpone: thc due date ()hhe monthly payments referred to in raragraphs I and 2 or change the IImuunl of the payments, If
<br />Uftder parasrllp/l19 the Property 1$ acquired by Lender, Borrower's right In any insurance poliCIes and rwcce<h rcsullll1g
<br />from dal1'l3lC to the Pr01lCfty prior to lhe acquisition shall pass to Lender tn the elltent uflhe sums secured hy Ihis SeCllr"~
<br />Instrumenl immedialely prior 10 the acqUIsition,
<br />6. PrelKlnatilllllillKl MaintellallCe of Property; J..eanholdll. Borrower shall nnl destroy. oamlll(c or suhslanllally
<br />change the Pwpcrry. allow Ihe Propcr!) 10 deteriorale or commit waste, If tlJls Securtly ll1strumenl IS IlIl II leasehold,
<br />Borrower .hall comply WIth .he provisions of Ihc lease. and if Bormwer aC,-!lIIn'S fet' litle 10 the I'wp.:r!v, rhe le.lsehold "ml
<br />fee title shall not merge unleli5 Lender lI11reeslo the merger III writing,
<br />7. Protection of Lender's Ripts in the Property: MnrttlllMc Insurance. If Born,wl'r fads '0 pt'lll.rnl 'hl'
<br />c<wcnllllls and agreements contained in Ihls SCl'unty InsJrultlenl. or I hen~ IS a Iqml prtlcectJill~ that 11ll1~ S111mlitilllll~ .,Ikd
<br />Lender's flllht, in Ihc Propelly (such as a rTO.:eedillg ill Oltl1kruplcy. prublllC, lor 'Ol1dClIIl1l1l1oll III '0 <'nlill<e la\\s 01
<br />fcgulatlllltsl.lhen Lender mllY dn !lIld PIIY for whlllever is fIl'cc\Sary to Ilrntccl'he valllc uflhe J>roperl~ amll.<'mk,'s "!lhls
<br />III the Prupcrly. I.cllllt~r\ lIelltlns may Indude paYing 1I11~ 'tim, \ecured hy a I,,'" "llIdl has ""Ollly o'er Ihl' Sc.'t1r1l\
<br />InlOotrunlt:l1l, appearlllg In <'oml.l'aymg .ea\ollahle illlurneys' fec, :11111 "lItCrlll~ . III lit.' I.ro"l....~ lu nw~,' "',,.I\IS "llh,,"~~h
<br />Lender fllay takc acllun ullder Ih" pllrallrnph 7. LCIl,ler ,Iuts nol hn'c 10 do so, .
<br />AllY ar'HJlUlI' di,hursed hy Lellller IIl1tkr IlllS Ilarlljtfl1l'h 7 ,hall hec"n1<' ad,ht!"nal deh! "t B,'ffO\\Cf ,,'nil ",I h, tl",
<br />St:\'IIl'.IY InslrUlIIcfll Unh:ss BUrloWI:! allllI <'lIllcr "!lree 10 olhl" h"tll' of l1ij~nl<'IlI, Ih..". .111'0\1111\ ,hall hUH IIlIl'''''' fr"lIt
<br />the d.uh~' of dl"hun~cnlt'nt i" fh~ l\4u1e nUt' ilnd ...hnllll4.' fMYHhl{', w,th Il1tl'n.,t, Upll11 1l011d' I"fl\111 l,fl1dcJ III Bn1111\\t"
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