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<br />b4 -003195
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<br />UNIFORM COYENM..S Borrower and Lender covenant and agree as follows:
<br />}, Payment of Principal and Interest; Prepayment and Late Charges, Borrower shall promptly pay when due
<br />the principal of and interest on Ihe debt evidenced by the NOle and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance, Subject 10 applicable law or 10 a written 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 sum ("Funds") equal to
<br />one.twelfth of: (a) yearly tax,", and ass,",smenls 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) yeariy
<br />mortgage insurance premiums, if any, These ilems are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estiml.'tte5 offulure 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 ae:encv (includine Lender if Lender is such an institution). Lender shall apph.. the Funds to pay the escrow items.
<br />Lende; ma)' not charg't for holding and applying the Funds, analyzing the account' or verifying th~ escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender 10 make such a charge, Borrower and
<br />Lender may agree in writing that interest shaH be paid on the Funds. t.1nlf"ss an agreement is made or- applicable law
<br />requires interest to be paid. Lender shall not be rt.~ujre.d 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 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 sums secured by
<br />this Securitv Instrument
<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 escrow ilems, shall exceed the amount reqUIred to pay the escrow items when due, the excess shall be,
<br />at Borrower's oplton. e,ther 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 10 make up the deficiency in One or more payments as required by Lender.
<br />Upon payment In full of ail 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. LendershaUapply, no later
<br />than ImmedIately prior to lhe sale of the Propel1Y or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit agamst the sums. secured by this Scc-unt}' Instrument.
<br />3, Application nr Payments, Unless applicable law provides olherwise, all payments received by under ~mder'
<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, 10 amounts payable under paragraph 2; fourth, to mterest due: and last, to principal due.
<br />4, Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Propel1Y which may attam :momy o\'er Ihis Secunty Instrumenl, and leasehold payments or ground rents, if any,
<br />Borrower shall pay these obligations in the manner prO\,ded in par..graph 2, or if nol paid in thaI manner, Borrowersh~r
<br />pay them on I1me dllectly to the person owed payment. Borrower shall promptly furnish to Lender aJI notices of amountS
<br />to be paId under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish 10 Lender
<br />rec.:eipts eVidencing tht: payments.
<br />Borrower shall promptly discharge any lien which has pnority over this Security Instrument unless BorroWer:Ja)
<br />agrees in wming 10 the payment of the obligal1on secured by the hen '" a manneracceptal>le to Lender; (b).eontests ing6Qd:-_
<br />fatth the lien by, or defends ago,"" enforcement of the lien in, legal proceedings which in the Lender's opinion ~te_ttt
<br />prevent the enforcement of lhe hen or forfeiture of any part of the Property; or (c) secures from thl'holder oftlleli"lra!l .
<br />agreement satisfactory '0 Lender suhordtnating I.he lien to this Security Instrument, If Lender determinesthatanY.pl>.rt'of
<br />the Property" subject to . iien which may atta.n priority over this Security Instrumcnt, Ll'nder may give Borrowl'l'1l
<br />naltce .denltfytng .he hen. Borrower ,hall sausfy the lien or take one or more oftheactiomset forth above within, lOoays
<br />ofthegiving~nott~ -
<br />5. Haurd ln~nlm"~, fk~rrr)\;\.t~r '$h1!JI keep Li-}1: impnwements now e:'t!sting -or her~fter *rected on 'tht~:P:t:~)';
<br />lilsured ag~tnSI Ins"", by fire, haurds ulc.luded within the lerm "extended c:overage" and any other hazar4s- for wbJcl1-'Leridei
<br />r~quircs insurance, Thl~ Itlsurance ~han be mamt<:uned In the: amounts and fOf t.he periods that - Lender requ~./l"he_;
<br />insurance carner pnwi.{.hng (he IJ1Suf1tnce shall ~ chosen by Borro\'<er subject to _Lender's. approval which shall -nor be
<br />unreasonably wlthhdd
<br />All ,,!Surance pohet'" and renewals shall be ao;;eptable to Lender and shalllnc!ude a standardmortgage,,,Iails,e,
<br />Lender shall have Ihe nght to hold the poilc..,. and renewals, If Lender requires, Borrower shall promptltgive, to 4ridc(
<br />all receipts of pald prenllums and renev.--al nottce'S< In the e-Yem ofloss~ Borrower shall give--prompt. noticc:toJhe:__ins~rance~
<br />c-aIrier and Lender. Lender rru1}' make proofcfloss if not made promptly -by Borrower.
<br />Unl"", Lender and Ilormw.r otherwise agree In writing, insuranc. proceeds shaIJ be applied torestO\'1ltionQrrcpak
<br />of the Property damaged, If the reslofatton or repatr is economically feasible and Lender'. sCCUl'ityisnot l~ed.lfthe
<br />restoration or repalt IS nc't economically Jeaslble or Lender's security ".ould be Jes.<ened, thc ins\lran~prO<:eeds.llbe
<br />applied to the SUms ""cured by thIS Securny Instrument, whether or not then due, with any excess. paid to Borrowcr, If
<br />Borrower ahand,,,,, Ih. Property, or doe. not answer ..;thm 30 days a nottee from Lender thauheinsul'l!llcc carrier has
<br />olTered to settle a claim. then Lender may collect lhe lnsurance proceeds, Lender may use the proceeds!o repair-orrostore
<br />the Propeny or I<J pay sum, secured by this Security Instrument, whether (>[ not then due, The 3Q..dayperiod will begin
<br />when the notice is given.
<br />Unless I..ender and Horr()\l.'er olherwis.e agJee HI writing. any application of proceeds to principal-shall not extend: Of
<br />postpone the due date of the monthly paymeflL' referred to in paragraphs I and 2 or change the amount ofthepayment.,lf
<br />under paragraph 1 q the Property is acqutred by Lender, Borrower's nght to any insurance policies and proceeds resulting
<br />from damage to the Property prior 10 lhe acqUlsil10n snoll pass 10 Lender 10 the extent of the sums secured by this Security
<br />Ins-trument immediately pnor to the acqUlsiuon,
<br />6, Preservation and Maintenance of Property; Leaseholds, Ilorrower shall not dest roy, damage or substantially
<br />change the Property. aUo~ the Propen)' to deteriorate or COlUrmt waste. If this Security Instrument is on a !ea5ehold.
<br />Borruwer shaH comply wHh the pTovl~mns of the leaOJ;e., and if Borrower acquires fee [Hie to the Property, the leasehold and
<br />fee lHle .,haJJ nQt mt'.rgt l.mia.... Lender agree;;. to I-he merger 10 wfHing,
<br />7. Protection of L-ender~s Rj.pt\ in the Property: 1\.10rt~ge Insurance.. If Borro\\'er fails to perfo.rm ,[he
<br />CO\'(',lutnt;,; a.nd agreetncnh ~'t)ntained In (,hIS Secufny In~lrumelH. or thert': lSo a legal proceedmg lhat may sig.mficantly atfect
<br />Lender\. nghb in the Pruperty \:-.uch- a'" a pnx(Xdmg in bankrupl,cy, pr(tbatt.\ fur >.:ondemnatJon or to enfort~ iaw~ or
<br />:eguiatiOfL'\i._L Ihe_n Lend-er m,,-y d(i and pay for ",'hate-\-'cr is n~e~s.ar) to protct.'l the ,-;-dut' of the Propeny and Leod-e-r'!,; right~
<br />m the 'Prnpcrtj' It;nde-r's acun;:)lo may ll\f..."ludc paying any :;.um~ !!o{~cur(d by :J. lit"n whJch has rnor1ty over [hi~ Security
<br />Ini,uu.ment. 4l:ppeariof', In ~oun. p-armg n:a~oHabic- aitorneys' fees Had ~nkring pn the Pro~l<n} h) make repairs. Although
<br />Lc-ru:kr rnay lale ao;;:tH)f) UI'U(,:f thIS par.agr3ph ;, Lt'ndcr doc~ no~ ha\t:' to do so.
<br />-\0_) amounh dlsburxd b) LCIlJer lItH.icT Ihi!' pa.ragraph i shaU hea~n-lt. J:tddHwnal debt {:d.l:iorr~)Wer ~C'i...urt."d by t.hl-s
<br />$a:UfHy IrH,{J'um~\.r1t t i-niC'S~ B(Jrrower ~n-d Le-nder iii;gr~_ HJ-,othq iqJt1.S. of pH:- mt:nc {he~(' ~lH1,-1-Unl\ \haU bear lntc-re:l.f from
<br />!he d.itte f,f dab-ui\.f.':.rnen1 at th( NUit CiHc .lnd 'Jl.:a-ll Ot"ht)<ahle-."with In!~'rt:~t. up.;;}!) IC<..'!I;,.:e ffl'Hl Lender 10 Botro,"'<:r
<br />requ.r;i.tmi p.yn-l(",tH
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