|
<br />I
<br />
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 84 -.., 005012
<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 NOIe.
<br />2. Funds for Taxes and Insurance, Subject to applicable law or 10 a written waiver 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 ("Fu!1ds")equaLto
<br />om~-twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b)yeaily
<br />leasehold payments or ground rents on the Property, if any; (c) yearl)' hazard insurance premiutlls;-and(d)'yearly
<br />mortgage insurance premiums, if any, These items are called "escrow items," Lender may estimate the Fund.due-oIHhe-
<br />basis of current data and reasonable estimates of future escrowilems.
<br />The Funds shall be held in an institution Ihe deposits or accounts of which are insured or guaranteed by a fed<:l'alor
<br />state agency (including Lender if Lender is such an institution), Lender shall apply theFundstopaythe~'it$nSr
<br />Lender may not charge for holding and applying the Funds. analyung the accOUlltOT verifyingtheescrow'itell.1s;1l!l~eSs-
<br />Lender pays Borrower interest on the Funds and applicable Iaw'permits Lender to filakesuchac~ge;Il<iiio~~~(k'
<br />Lender may agree in ",nting that interest shall be paid on the Funds, Unless an agreement is- nilIdeorlipplieable~w
<br />requires interest to be paKl, Lender shall not be required to pay Borrower any interest or eamingson the Funds,J.-t;ndlll" .
<br />shall give to Borrower, withoul charge, an annual accounting of the Funds showing credits and debits to the Ftincband,tlle','
<br />purpose for which each debit to the Funds was made, The Funds are pledged as additional security for the sumssecured'by.~
<br />this SecurilY Instrument ,
<br />If the amount of the. Funds held by Lender, together with the future monthly payments of Fundspayablepri01',:tD
<br />the due dates of the escrow neros. shall exceed the amount required to pay the escrow itemswben due, the excessshallll!:.'
<br />at Borrower', option, e.ther promptly repaid to Borrower or credited to Borrower on monthly paymentSof.Funds,If,the,"
<br />amount of the Fur;<Is held by Lender is not sufficient to pay Ihe escrow items when due, Borrower shall pay to Lenderariy'
<br />amount necessary to make up Ihe deficiency In one or more payments as required by Lender.
<br />Upon payment III full of all sums secured by this Security Instrument, v..nder shall promptly refund.toBcirrower,'
<br />any Funds held by Lender, If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, noIat(!r.
<br />than Immed.ately pnor [0 the sale of the Property or its acquisition by Lender, any Funds held by Lender&tthe;timeof
<br />applicatIOn as a credit againslthe sums secured by this Security Instrument,
<br />3, Application of PaYmeJlts, Unless applicable law provides otherwise, all payments. receivedbyLende.r under'
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to prepayment chargcsdueunderthe
<br />Note; third, to amoums payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4, Oulrges; liens. Borrower shall pay _all taxes. assessments, c~a.rges" fi~~ and impositions atu;Ibutable,!othe
<br />PropeI1Y wh!ch m~y ~tt~n pnontj' D-::~r thiS ~ufliY in5~rumait~ ana iea~ilOjQ payments or grouna Telns; u auy~
<br />Borrower shall pay these obligauons mlhe manner provided in pafllgra' .. 1, or if not paid in that manner, Botrowershall
<br />pay I hem on lime dIrectly 10 the p<:rson owed payment, Borrower " ,~11 ' ,,' ;nptly furnis', ,a Lender all notieesof amounts
<br />to be paid under th.s paragraph, If Borrower make<i the", payrn.. ,;irectly. Borrower shall promptly funrish to Lender
<br />receIpts eVldencmg the payments,
<br />Borrower shall promptly dtscharge any lien wh.ch has pnority over this Security Instrument unless Bouo\\u: (a)
<br />alUttS In wntmg to the payment or the obligation secured by the lien in a manner acceptable 10 Lender; (b) contests in good
<br />liulh the hen by, or defend. agamsl enforcement of the lien in, legal proceedin~ which in the Lender's opinion operate to
<br />prevent the enforcemenl of the hen or forfeIture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement sausfaaory w Lender subordmallng the lien to this Secunty Instrument, If Lender determines that any part of
<br />the Property" .ubjeCt 10 a hen which may altam !'nonty over this Security lnstrnmenl, Lender may give Borrower-a
<br />notiCe .denufY1ng the hen. Borrower shajj satISfy the lien or take one or more of the actions set forth above within 10 days
<br />of t he gl\lng of not.ce.
<br />S. HuanllRSllI'lUlCe. Borrower shall k<ep Ihe Improvements now eXIsting or hereafter ereeled on the Property
<br />lfisured agaln-'l i<"" by fin:, ltauuds Induded ....nhln the term "extended coverag~" and any other hazards for which Lender
<br />requ.res In,uran"" Th" msuranee shall be malll!!llned III the amounts and for Ihe periods that Lender requires, The
<br />lfisurance carner prt>\.dmg the msunlllce shallt><: chosen by Borrower subject to Lender's approval ....hich shall nOI be
<br />unrebOllabiy '" 11 hhdd.
<br />AU ,"sunmce p<'hc.e> and renewal. ,hajj be acceptable to Lender and shall include a standard mortgage clause,
<br />Lender MW1 ha\'t: the nghl to hilld the poh~$~ ~nd re~"'-ah.. !f Lender requires. Borrower shall promptly give to Lender
<br />aU r""""pls of pard premIUms and rene",a! nollces. In the event of loss, Borro....er shall give prompt notice to the insurance
<br />";}.mer and lender. Lender may make pn>of of lo.s If nOl made promptly by Borrower,
<br />l'nless Lender and Bormwer Olher"".., agree III ....ntmg, Ill.urance proceeds shall be applied 10 resloration or repair
<br />of Ihe Propeny Jam411ed, If the restoration or repaIr IS economIcally feaSible and Lender's security is not lessened, If the
<br />restoration or repan " mIl economically feaslble or Lender's secunty would be lessened, the insurance proceeds shall be
<br />appbed w the .unb ",""ured by' thIS s...'umy Instrument. whether or not IlIen due. with any excess paId 10 Borrower, If
<br />Borrower abandon. the Prop<:rty. <'r does not answer wltllln 30 days a notice from Lender that the insurance carner has
<br />,,!fered to seule a cb,m, then lender may- .:"lleet the Illsurance proceed.. lender may u.e the proceeds to repair or restore
<br />lhe Property or It> pay- ,urns secured by thIS Secunty Instrument. whether or not then due, The 3O-day p<:riod wtll begm
<br />wh('n the notice l~ g1\ien.
<br />Cnless Lenda and Borrower olhe""'l'" agree III ",nung, allY apphcallon of proceeds 10 principal shall nol extend or
<br />postpone the due date of the mOnlhl\ paymellls referred to In paragraphs I and 2 or .:hange the amount of the payments. If
<br />under paragraph I '1tl:c Pmpeny- tS a.:qLured by Lender. Borrower', right 10 allY msuran.:e pobc.es and proceeds resuhing
<br />from damage I<' the Prop<:rty pnor I<' the a.:qUlsuion shall pass w Lender to the exlent of the sums secured by this Secunty-
<br />If~Lt'umt't1f im!!'!-~l!.:ite!y pnur t~J :hc oii.:qiii';iiivfi,
<br />6, Preservation and MaintelUme., of Properly'; Leaseholds, Borro....er shail not destroy, damage or substantially
<br />I.":hanie the Propt'rt). a!J()\\' th~ Prnperty to deteriorate or c(::mmH waSh:. If t}H~ Secunty Instrument l!\ on a leax-hold.
<br />Borrower \h;aH C{lm.ply WHo the prOnSlOI1S of the iea.....e. and If BOfTo\\er acqUires fct" I1tk tlJ th~ Pn)peny. the leasehold and
<br />fee utle shall not merge unless Lender agrees w the merge. m '" ntlllg
<br />" ProtectiOll of Lender', Rights in the ProperlY; \lortll8l!e Insuntnce, I ( Borrower fali> tt' perform the
<br />d~\o'm4~lt~ and llgrcemetll.'<l c~lfltamed m {Db ~'unty lnstrumenl. \1r t heft.' I... a i~gal pn1,,:eeJmg (hat mat' ~lgmticantly afte\.'t
<br />Lender, nght~ m i'he Pn)r~Tty hut..'h a... J pn.:l\;ttdmg m bankruptl.."Y. ~"'r(\tmtt., f..lr cnndcmnaHon or h) CUf(lr('c law~ iJr
<br />rt',uj.atlt.m~). then LendC'f may d(1 and pal tor ~ il.ate\{'f l~ nl"\.'~'aq 1\.1 pfPin''l the \,utuc pf thr Pr01't('rn and Lender\. n~ht~
<br />10 the- j-Jn'1f<'r1Y, Lender':r-. actHln~ mll) m.:-lude rct~mg an) \UUl~ '-txuft."d to:-- a ll~n v.hl.:-h hJ.\ pnc"nt~ l'\t'T tht~ Se...unt~
<br />huuurnc.nt. aP'f"C..nn~ In \.~oun. p-3.~tn~ rt"~1'!.ondbie attortle~-s' ft"~ .and cnunn!!. ('In tht~ Prpp("rty t\.I makt."" rt'"palf~_ Allth.ugh
<br />I.--ffitkf ma~- tAL.e i!!.:l\Ot1 unde;. thlS par-a-t:rap-h "!, leTld('r dl~ n-N ha\c t;,l i.1;1 \..1
<br />,'\n~i amouuhl.hsbun;.ed by l.ender under this, pJra~raph i ..h311 t'x"1.'i.1mc adJlflllfl.t.1 Jt'f'llllf H(ln(l\\'cr :...tcun:-d tn lhl~
<br />Secunt~ lnurunlt"iu l "nJe"-ft &mo,","(-r and 1-e-ndt"r ar-fee \(1 mh{"T {trIll'. .-d paym~fH. !hC"~e ,H!WUlll.. ...han tx':ar !lll(f(''-\l fnm1
<br />the- dAt-e ot dl~bur~-ment of! tht '()It" ralt." hHy ..hail b< ra~abk. \\Hh ll';,ll."ft"'l.t ll~"H,\n 11l,rh:\" fr\'Il1l L(,l'hh.'-J h' B"rt\;\\'el
<br />r~~~mg i~~~m-,",nt
<br />
<br />
|