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<br />84- 004300
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<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 NQte, until the Note is paid in full, a sum ("Funds") equal to
<br />Qne-twelfth of: (a) yearly taxes and assessments which may atlain priority over this Security Inslrument; (h) yearly
<br />leasehold payments Qr ground rents Qn the Property, if any; (c) yearly hazard insurance premiums; and: (d) yearly
<br />mortgage insurance premiums, if any, These items are called "escrow hems," Lender may estimate the Funds due on 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 guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution), Lender shall apply the Funds to pay the escrow iterns,
<br />Lender may not charge for holding and applying the Funds, analyzing the aCOQuntor verifying the escrowit~ms,~nless
<br />Lender pays BorrQwer interest Qn the Funds and applicable law permits Lenier 10 make such a charge:, BOfl'ower,and
<br />Lender may agree in writing that interest shall be paid Qn the Funds, Unless an agreement is made Qr applicable:!aw
<br />requires interest to be paid, Lender shall nQt be required to pay BorrQwer any interest or earnings, on the Funds,Lender
<br />shall give to BQrrQwer, without charge, an annual accounting of the Funds shQwing credits and'debits to the Funds and the
<br />purpose fQr which each debit tQ the Funds was made, The Funds are pledged as additional security for the sums secnredby
<br />this Security Instrument.
<br />If the amQunt Qf the Funds held by Lender, together with the future mQnthly payments of Funds payable priono
<br />the due dates Qf the escrQW items, shall exceed the amQunt required to pay the escrow items when due, the excess shall be,
<br />at Borrower's QPtion, either prQmptly repaid tQ BQrrower or credited to BorrQwer Qn mQnthly payments of Funds,Ifthe
<br />amQunt Qfthe Funds held by Lender IS not sufficient to pay the escrow items when due, Borrower shall pay tQLenderany'
<br />amount necessary to make up the deficiency In one or more payments as required by Lender.
<br />UpQn payment in full Qf all sums secured by this Security Instrument, Lender shall promptly refund to BQrrower
<br />any Funds held by Lender, If under paragraph 19 the Property is SQld or acquired by Lender, Lender shall apply, nQIMer
<br />than Immediately prior 10 the sale of the Property or its acquisition by Lender. any Funds held by Lender'ahhetime 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 payments received by LenderUr!dCF/
<br />paragraphs I and 2 shall be applied: first, 10 late charges due under the NOI- second, tQ prepayment charges due under the:
<br />Note; third, tQ amounts payable under paragra:>h 2; fourth, to interest"" .Cld IdSt, to principaJdue,
<br />4, Cbarges; Liens, BQrrower shan pa} all taxes. assessmer,'., _'harges, fines and impositions attributable to the: .
<br />Property which may allam pnority over this Secumy Instrument, and leasehold payments or ground rents. if any: '
<br />Borrower shall pay these QblIgatIons m the manner prQvided in paragraph 2, Qr if nQt paid in tbat manner, Borrowershall
<br />pay them on time dircctly to the persQn owed payment. BQrrQwer shall prom;>t1y furnish to Lender all nolices of-amounts
<br />to be paid under this paragraph, If Borrower makes these payments directly, BQrrower shall promptly furnish to Lender
<br />receipts eVidencing the payments.
<br />BorrQwer shall promptly dIScharge any hen whIch has pnority over this Security Instrument unless Borrower; (a)
<br />agrees m wntmg to the payment of the obhgatIon secured by the hen in a manner acceptable to Lender; (b) CQntests in good
<br />faith the hen by, or defends agamst enforcement of the lien on, legal proceedings which in the Lender's opinion operate to
<br />prevent Ihe enforcement of the hen or forfeiture of any part of the Propeny; Qr (c) secures from the holder of the lien an
<br />agreement satIs(actQry to Lender subordinatmg the lien to this Security Instrument. If Lender determines that any part of
<br />the Property IS subJect to i:l lien which may anain priont)' over this Security Instrument. Lender may give Borrower a
<br />notice Idenufying the hen. Borrower sh:.JI satis(\' the hen or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S, Hazard Insurance. Borrower shall keep the Improvements nQw existing or hereafter erected on the Property
<br />1nsured agamst loss by fire. hal.afOS Included wnhm rhe term "extended coverage" and any other hazards for which Lender
<br />requires insurance. Thl~ m~urance shaH be mamtawed It1 the amounts and for the periods that Lender requires. The
<br />Insurance carner pruvldIng thr m~urance shall be ~hosen by Borrower subject to Lender's approval which shall not be
<br />unreas.onabJy withheld.
<br />All Insurance rohcles and renewah shali he acceptable 10 Lender and shall include a standard mortgage clause.
<br />Lender shall have Ihe righl to hold the POlICIes and rene"als, If Lender reqUIres, Borrower shall promptly give to Lender
<br />all receipts of pauJ rrenHum~ and n:nc\o\al nolli:es. In the eVent of loss. Borrower shall give prompt notice to the insurance
<br />carner and Lender, Lender may make pH.l\,f of loss if not made promptly by Borrower.
<br />UnJes~ Lender and Borrowc':r 1,J[hen1dst: agree U1 writing, insurance proceeds shall be applied to restoration or repair
<br />of the Propc:ny damagtXi. !f the restoratwn or repair is econonllcatly feasible and Lender's security is not les.....ened. If the
<br />restoration or r~palr i~ not eCOiH)mh,,'aHy fcas.ible or lender's security would be Jessened, the insurance proceeds shall be
<br />applIed to the sum, secured b} Ih" Secunty hbtrument, whether or nQt then due, with any excess paid to Borrower, If
<br />Borrower aband()n~ the Propt:'rty, or Joes not an!)wer wlthm 30 d~Y5 ~ lIL'llt.-':: from Lender that the insurance carrier has.
<br />offered to ~et1k a dam\. then Lender may collect the IOsurar":-e- pn')Cct:ds. Lender may use the proceeds to repair or restore
<br />the Propert) or It) pa~ sum~ sn;ured b)' thiS Secumy JilStrumem. whether or not then due. The 30~day period will begin
<br />when the nOtll.;:e is- gl\"en.
<br />Unles.., Lender and Borrower other\\-bt: agree tIl Wfltllig. an)' applicatlon of proceeds to prinCipal shall not c:\.lcnd or
<br />postpone the due dale." of the monthly payments referred 10 111 paragraphs I and 2 or change the amount of the payment~, If
<br />under paragraph I q the Propt'"ny lS- ai:quued b} Lender, Borrower's nght to .an,Y insurance pOliCies and pfl:)Cct~S resulting
<br />from damagt' to the Propert) pnor to the acqUisllion shall pass to Lender tt) the t.xlent of (h~ sums secured by thiS SecurH~
<br />Instrument lrnmediale!) prior to the acqUl~lt10n
<br />6, Preservation and 'laintenance of Property; Leaseholds" Bornlwcr ~hall Iwt deslro~. dam.lge or substanuall.)
<br />change the Propen}" a.li(l\\ the Prorert~ to deterit1rate Of ('(\mnllt waste. If rhl:' St'CUfH) Im,tfuHlt'nt l~ Oil a leasehnld,
<br />Borrower :ohall c(lmpl} \\ Ith the pro\"l!'wIh of th~ lease. and If Horr\w, er 3I.:qUlft."... fel~ IHIe In the Pr(\pe-rr~, the kaschold and
<br />fee title shaH not mcrg~ unless Lender agree~ to the mt.'rger III wrUtng.
<br />i, Protection of Lender's Rights in the Propert}'; \t()rt~age Insurance. If Borr~)\\..er l~lIb ((, perform Ihe
<br />C(Weudnts and agreement:. i.,:ontalIlcd 1Jl thiS Secuflt~ In'\trumenL \)f thert.' IS a legal prx.1"'I;.'eJmg thilt mil) sJgmh\:anIJ) affect
<br />Lender'~ nghts. III Ihe Prnpcrty (such 3;;. a pr()~eed1ng III bankruph."y. rn)patt-:, f\\r cnrhjt.'nlI1.l11UB r>r h' enh)rce la\\.'. ('f
<br />rcg:uiaHon~)" thcn l.endt:r may do and pay for whatl'\ er 1:'\ nece:...5.~.HY h) pr~ltcCt the \ aluC' \11" thl' Prop1..'n~ anu l.ender..... nghh
<br />In the Property Le-nde-f's acttOfh ma)- include pJ)"wg .HI) "Unl!'. ~e~urt.~d r.~ d hen \\ hlCh fu.. pfl\lf"1t) ,-\\\:'1' rlH.., ~'-'~:Uflt~
<br />Ins.trumem, appcaf1n~ l!i i..'oun, raymg reaslm~hle aHOrnt'Y:-" f(,t'~ and cnlt." l[,~ tll) [he' Prl'rt'rt~ {(1 rllab.c repair'" .-\ittl\)ll~h
<br />Lender ma) tale ,lCt1-nn under thl~ paragra.ph 7, Lend!.:'!' does not h~t\e to d,l ....t\
<br />An) amoufH:\ JI~bur~ed by Lender undt.'r (hi... paragrJ.ph : shall t)c(~~flh: ~ld,jllll'f\J:J \h.'hl iA Bt'IHl\\t'! '{~.. ured hI, 1 !lI',
<br />Sct;-Ur1ty Im.trumcnt. {'nlC'~, B-onOWCf i-Hld Le::fH.kr agrl."C !pothel term... ('I' r<.l~fl\Cfll rl1l'''C JflhlUnh ,hail he..ll Dilen.'\! fr.'1n
<br />tht: datt of dl!)hut""!.cmcnl ;11 tht. ~nk fait' ~tnJ ..hall he pa~.lhk:. \;'Jlll Intcll'''l, ur-"o l)llth.;( l!\)lll ll."!\..k, Billl\l\\,"1
<br />!'t'quc~il:l;.? p.<1)-'!l\tnl
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