|
<br />r--
<br />I
<br />
<br />84--
<br />
<br />005975
<br />
<br />r
<br />I
<br />
<br />UNIFORM COVENANTS Borrower and Lctll.kr nlVt'nanl and a~rce ;1S fdllllw~
<br />1. Payment or Principal and Interest; Prepayment and Late Char~es, Borrower shall promptly PO) when dut
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the :-;01"
<br />2. Funds for Taxes and Insuran~e, Suhiectto apphcablc law or 10 a wrillen \\'al\'cr by Lender. Borrow,'r shall pay
<br />to Lender on the day monthly payments are due under the Note, untt! the Note is p,"d in full, a sum ("Funds") equal I"
<br />{)ne~twelfth of: (a) yearly taxes and as~essment" which may attain priority over this St~("qr!!J InSlfUm(i'1l: to} yearl)
<br />leasehold payments or ground rent~ tm the Propel iy, if any; (c) yearly haztird insurance premiums: and Cd} yearly
<br />mortgage Insurance premiums. if any. These ilerns are calied "escrow items." Lender may esiim.lte the FU:1G~. due on fhe
<br />basis of current data and reasnnah!e e~tjmates of fu~ure -ts{:rn-w item~
<br />The Funds shall be held in an IIlslilut;on the deposits or accounts of which are IIlsured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution), Lender ,h"1I apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds. analyzing the account or verifying the escrow items, unkss
<br />Lender pays Borrower interest on the Fund, and applicable law permits Lender to make such a charge. Borrower and
<br />Lender m~y ugree in writing that intereM shall l--,e paid 0ii the Funds. Unle% an agreement is made or applicable law
<br />requires interc$t to be paid, Lender shaH nOI be required to pay Uorrowcr any interest or earnings on the Funds. Lender
<br />shaH gil,-'c to Borrower, without charge. an annuai accm,mt!ng oftne Funds showing credits and debits to the Fund5. and the
<br />purp;se for which each debit to the Funds was made. The Fnnds are pledged as additional security for the sums secured hy
<br />this Security Instrument.
<br />If the amounl of the Funds held by Lender, togelher'Wuh the future momhly payments of Funds payahle prior to
<br />the due dates of the escrow items, shaH exceed the amount required ta pay the escrow ilems when due. [he eXc~-ss s.hall be.
<br />at Borrower's option, ell her promptly repaId to Borrower or credlled to Borrower on monthly payments of Funds. If the
<br />amount of the I-::unds held hy I _cnder is not ~UmClen! to ray the escrow items \vhen due, Borrower s.hall pay to Lender any
<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 secuft'd by this Security ;0." u.<i :nt, Lender shall promptly refund 10 Borrower
<br />any Funds held hy Lender. If under paragraph ,q the i'rop~r1V 'c ", I:: ,;r acquired h~ L.c;,der. Lender shall apply, no later
<br />than Immediately pnor 10 the sale Df Ihe Proper.y its <Ie"" :',Xl hf Lender, any Funds held by Lender at the time of
<br />application as a credIt against the sums secured by [his Security instrument.
<br />3. Application of Payments, Unle." applicable law prOVIdes olherwise, all payments received by Lenoerunder
<br />paragf'ilph:'i i and 2 shaH be applied: firSt, tn laIc charges due under the Note; ~econd, to prepayment charges due unuer. the
<br />Note: third. to amounts r~lyahlc under paragr;lph 2: fOllflh. to interest due; and la~t. to princip~t duc,
<br />4. Charges; Liens, Borrower ,hail pay all taxes, a",essment,. charges, tines and imposilions altrihutable to the
<br />Pre-peny whil~h rna)' a!fam prmnty over thi's Secunty lnsfrtailcni. and leasehold payrn,crHs or ground_ renlS. if-an)':
<br />Borrower shall pay these ohhgatlOns In t he manner pnmded in paragraph 2, or If not paid in that manner, Borrower shall
<br />pay them on time directly to the person (\wct.l payment> Borrower shaH promptly furnish to Lender all notices of amounts
<br />to be paid under thiS paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />re-ce!p-t~ cviden-cm~ the payments.
<br />Borrower shail promptly discharge :lilY hen which has pl10rity over this SecurIty Instrument unless Borrower: (a)
<br />agrees in wntmg to the payment of the obhgallon secured by the hen ill a manner acceptable to Lender; (h) contests in good
<br />faith the hen by. or defends agam't enf'}fcemenl of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent Ihe enforcement of Ihe lien or forfeIture or any part of the Property; or (e) secures from the holder of the lien an
<br />agreement sall,factory to Lender 'ulx>rdmatlllg the h<,n to thIS Security Instrumen!. If Lender determines Ihst any part of
<br />the Properly i~ subject to a lien which ma~' aHaln priority twer this Security Instrument. lender may give Or"rrower a
<br />nOlice idenlifYlng thl: iien Borrower shaH s~lti",Jy the Itcn or lake Ont,' or more of the actIOns set f()rth above wlthjn 1-0 days
<br />of the giVing of notice.
<br />S. Hazard insurance. Borrower ~hatl keep the Improvements ttO..\' existing or hereafter erecled-on the Properly
<br />insured agamst loss hv fire. hazards lllduded wilhm the term "c,tellded coverage" and any otlter hazards for which Lender
<br />reqUIre' ;Ilsuranc<, This insurance shall he rna"'tamed III the_ amounts and for t~e pen:xls thai L;nder .re~ui:.es, T~e
<br />msurance carner prn"~d!Og the In5.Uf<-!fH..'t' ~hZ!.n t\.~ ~hL~-en b~' !iCrrnwer ~u-bj,-"':C~ t(; Lt:ndcr;; appTv,",'a; 'WtHcn ~[j<W nul (:lC
<br />unreasonably WIthheld.
<br />All insurance pt1licie... ;md reIlcwab ~hali he a(~Cplabk to Lender and shall include a standard mortgage cia uS-\!.
<br />Lender shall ha" the right to hold the r<.llCH" and renewals. If Lender requires, Borww<,r shall promp.ly give to Lender
<br />aU rec~ipts {}f paid pren\lurns and renewal Ilotil,.'CS, In the evcHt (if los-,s,. Borrower shaH give prompt notice to the insurance-
<br />carner ~md Lender. Lender may make proof()flos-~ {fnol made promptly by B<)frOWer
<br />Unless Lender and Borl<lw<,r otherw",' agree III wntiog, Insurance proceeds shall "e applied to restoration or repair
<br />',{ the Property ibmagcd. if the IC~i(lfalHJIi ur HTi'tf I~ t'conc~m!caiiy ieasibic and Lender's securllY I~ not 1C$s.ened. If the
<br />reslonUlon or repair i, r}l,'l! ec('nomically feasible or Lender\~ sc.:..'urity WOUld be lcs,~ened. the insurance pn.lCecds shull be
<br />apphed to the 'urns secured lw this Secunty 1,,'trumenL whether or not then due, wilh any excess paid 10 Borrower. If
<br />Borrower ab~H1l.km~ the I')roptrlj'. Of d(\Cs nol ~WSWef "iHhin 30 days a nnti..:-c from Lender that the insurance carrier ha~
<br />offered to settle ,.1 dmfll. [hen Lender may collecl the insurance proceeds, Lender may USe the proceeds to repair or re~tore
<br />the Property ('If to pay SUlH:; ...t~cured b~' !lns St:"\"llrilY Instrumenl. \\,-hether or not then due. The 30--day period- will begin
<br />when thf'. HOii,-1'" i~ gi\;~!:
<br />Unk~:s Lender and Borrower otherwise agree in writ!ng. an) applicatlOn of proceeds to principal ~hall nol extend or
<br />postpone the: du'C_ date of the monthly payments referred 10 1f} paragraphs 1 and 2 or ChtHlge the- amount or~he p.lymcnts< if
<br />under pantgraph i9 the Property is acquin'o h~ Legd-L!. nOfrnw~f.~ right to any insurance poliCIes llnd procct:ds resulimg
<br />fr{Hll Gama,ge to -the ProperlY prior to the a\.'qulSI1lon shall pa~s. to Lender to the e:\lcnl of the sums secured: b-y this See-urity
<br />Instrument jmmediateiy prior to the- acqulsition.
<br />6. Preservation and Maintenance of Property; Lcaseholds. norrower shall not destroy, damage (lr suhswnt>all)'
<br />change tltt: Property, allow .he Property to deteriorate or commit waste, If thIS Security lnstrumenl is on a le",;eliold,
<br />B(lffl).W~fShd! ~O-mp!y w;th :ht p-n.i'ii51~1fi5 Gfthe kiix. and if oorf(Jwcl "';,;quire~ fee [(lie h) the Property, the ieasehoid and
<br />ree\nle~fH!:~_~~~:,~~ge~~n:ess,~e~de~.a~r_e~t!)_{.he~~crgcf_inv...t~ttng. ~ .u___ __ ..,
<br />, l-rU-1.gHutJ Q! L-€neers !'u~nt5 m tne tiCp:8";j-'; ~10r:ga~e U"iSi.iraii.-'i:'. ii DVlIUWCI lau~ Hl pen-urm me
<br />CC-v-"..!::':~ng ~n-d agie~meni5 (.(lhi;l~nc-d in ihis SccurHY inqrLHl-U"oL t.>f there is a !-cgai prtKet-"thng (hat may slgmncalHiy Hfr~ct
<br />Lende.r'~ nghts in the Property \-"\u~h as a rHX~ct,'(hng in b-ankruptcy, probate, for l'ond.enloati(H\ ur to t'nforce ia"", fIr
<br />r-e:tuhtiii.1H$), th<:n Lender may do llnd pay ft'r ',;\.-h:.itc\'er l~ nC(e~s.afY hl protel,.'t the- YJ,[ue of the Property and lendn'.,. rlght~
<br />~n ~hc i'roptfty. Lender's il..::Hnns mi'l)' includ-!.' paymg an)-- ~U1n~ ~e(;ure-d by ;:l Iit:n v.hldt ha~ priorny over thi, 'St~(urjt!
<br />!fl~ttdrn-tnL aJlf'C-aring. in ((.un, paymg re-a,\~,()n"lbk f\ttorllcy~. ft."t"S- .;un! C:tne-nng t'H the Property to make f~ra!fS, Although
<br />Lcndt"f (rlay t:!k:C--Actt(.H) und:e-r nH~ r~.H~'fl!-r.tph 7, Lc-m,kr does Ht,)t ha'H~ to do \0.
<br />An): jl,muun-ts dl~bu{~t~.d r.;, Lendcf umier thi~ p~uagrarh 7 ,h;:IH be~:i}l'!le add~It~)nal dc-ht of HOfft.:>\\'l"l t,.t'(u(c-"l b> th\\
<br />S~~Urlty IH~tt-umtnt. Unl{~~ If.<:wlower aHd {!:'mla "lgre-t: H~ other h~rtl\'j. d~ pU:-fH,-'H1, thc:-.<' afl'H:~UnlS :>.hl~ll be.H Wh:.~rt~"l fn.'tfH
<br />~~1t. d->>t-t- N'" drsh\H%Cment .}f the ~tJtf' f:jl( -:!Hd ",h~tJl ~1t:-, p,n-a\<)k. wHh ;1jt,t'f!;~~L Hf'-i~O n..)HCf fL:\JjJ L,-ndcr rn B''ff')\,,-C-r
<br />i(,~-lt~'i;,hntt r.l1)rn_t:Ht,
<br />
<br />
|