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<br /> UNIFOPtM CCV�NANTS. Borrotver and I.ender covenant and agree as fallows: ��:; � -_
<br /> ' 1. Faymem4of H'rtadgaBandlIItea�s3:P�'Pps�Ym , , �� �- : -
<br /> ent and Late Ct�urges. Borcotiver shall promptly pay when due[he ':;��: . ��-
<br /> _-f:;�.-'=--��- -
<br /> �"� principal of and intenss on the debt evidenced by the Note acd a�y prepayment aud lue charges due under the Note. -�4=._ .-. _
<br /> f 2. F�nds�or Ttus aadYnst�'ance-Subject to appllcable law or ao a written�vaiver by Lender,Borratve+'sh311 pay so •��y • . �.;_
<br /> Ixnder on the day monYlily paym�ts are due under the Note,until the Note is paid in full,a sum('F�.As")for:ta)yearly . , ,� • - _
<br /> `'`� ..arl leasehold . . : .y.--- _s
<br /> taxes and assessmsnts sdhich may atta�pn°rity°V��Se�rity Instnsment as a lien on the Propeny: (bl Y° Y
<br /> payment,or ground rents an[he Propeay. if any: (c)Yearly hazard or progerty insurance premiums; (d)Y�Y flond ` _-.� __ - -�
<br /> [nsurance premiums.if any• (e)YearIY martgage insurance preruiums. if any: and (�anY su�s PaYabla by Borro�r•ee to ��__ .,'� �Y,r
<br /> e ui '..._.
<br />��Ji .�^'JT'a-�f_.."'�t�"!��_ ..
<br />- < I.ender, in accordance with the provisions of paragraph 8,in Geu of the Qayment of mortgage insurance premiums. 17u�e ....,, _ ..
<br /> items are called'Escrow Items.' Lender may.at any time,coUect aad hold Fvnds in an amount not to excced the maxim��m . ^
<br /> amount a lender for a federally related mortgage loax�atay require for Boaowei s escrocv ascount under the fe�eral Real • 1
<br /> Fstate Senlemcnt Procedures Act of 1974 as am�nded from dme to time, 12 U.S_C. $2601 et seq. ('RESPA").unless ?.t . .'• � ` , -_--
<br />_ another lav�that applies to the �unds seu a lesser a�nount. ff so,Lender may.at any time.collect and hold Funds in an a � •-..�--,,.�� ;
<br /> amouat not to exceed the lesser amount. Lender may estimate r(�e amount of Fua�ls due on the basis of current data and ��% ::�.•�j ,
<br />.. reasonable estimates of ex�senditures of future Esciodv Items or oEherwise in accordance wiih applicable Ixtiv. . , . .
<br /> The Funds shaU be held in an institution arhose deposits are ias�utd bY a fed2tal ageacy, in�trust�teli�Y, or entety � �� r: ._._
<br /> (including Lender.if Lead�r is such an insiiturian)or in�y Fesieral Hom�Un2n Bank. lender shall apply the Funds to ^_. � __
<br /> pay the Escro�v Items. I.�d�r may not charge Borra�v�r for holdi�g and applying thd Funds,annu�lly aa�ly�ng th.escmv� ,.:� 4� _l-:
<br /> ar.count.or verifying�fie�w It�s,unless Lender pays Barrower interesc on the Funds and ap plirabl�law perraiU,. : _
<br /> L,ender to make sush a cUaTge. However.I x u der�ay iequire H o c�o�v e r c o p a y a a u e-t i m e c h a r g e f o r a n i n d e�p:r.dent real �;r� �-�►--� �•�; .__
<br /> ' estate tax reporting service used by Lender in conaection witb this loan,unless applirable la�v pmvides otl�rnise. Un1ESS an • .� � . :
<br /> .. ' made or licable law nequiies inte r e s t to b e p a i d,L e n d e r s h a ll�a t b:r e q u i r e d t o p a y B o r r o�v e s an y interest or •��^
<br /> 1. agreemeut�s �PF �. " •' • ' '
<br /> ` eamings on the Fnnds. Bazrower and Lender maY agree in writing. hflweves,thai int�esesc sh311 bs paid on the Funds. ..� ..,,��
<br /> :� Lender shall give to Bornnr.rer.v�itho�t charge,a�aunual accountin of th�Funds,sh�tiving�edits aa�debits to the Fuads _� ,,,�.,,�
<br /> �. _..__ .,s...,.:,�.P�,�Phir�o the Fuads�vas m�de. Thi Fun�ds are pledged as z,�ditioral security for all sums ,�� ,�:,
<br /> -- auu iuc(nujn+'a...... ........--- �_
<br /> s�ea by�t►;s s�cy rn.���u. �
<br /> If the Funds 6eld hy L.ender exceed th�ama�s p�rmitt�d to be h�ld Iry applicab2�law. Le�r4:r sha11 account to �,�,� .,_ �S
<br /> eRCe�s Fu�s m�����th t3re reqaitem�u of appliqbl:law. If the amnun�.of th�F?unds held by ��-�±�___
<br /> Barrower for the �� ";.�s=:�-�=
<br /> ' � I.ender at any time is not saffcient co pay the Escrow Items nts�du�.,Lead�'may so notify Borrowes in�vvilmg,�cd,m , � _ �:
<br /> • such case Borrower shall pay to L.rAder the amount nec�ssary to m�ce up the deficieiv.y. Bozrower�hall m�Ice up the `l'�:`-. • ��:��: .g?'
<br /> deficiency in no moce than twelve monthly paym:ats,at Lea�ler's snl.�discretion.
<br /> Lipon Payasent iA fnti of all sums secured lry Was Secsuiry Yusmu�nt.Lend:r shaU pramptty refuad to Borrov�er an.y . .
<br /> Funds held by Ltnder. lf,under paza�raph 21,Ir�rri�sba11 zccNire or sell r]�1�eTty.Lender,priar w the acquisitlon ar ;�-^ , ; '
<br /> sale of the Praperry.s3r�li aPply any Fands heid b�r l�.nder at the time oY acc��f.sitinn or sale as a credit against tbe sums � �_j:.� .,.•
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<br /> secured by tbis SecwrEty Inswment. •`�. .�
<br /> 3. R.ppfIcalio�s o4 Ff►yma�t�. tlnless app.isable lavr p.ravid�otherwise, all payicseass received by Lender under '.;,�. . -
<br /> .� paragr-�trs 1 and 2 s�+all be applied_ fust. to au}+prepayrren= charges due under the Not�scxond, to amounts payabts �kh , _--
<br /> under paiagiaph 2;r��to interest due;faustI�Ica principal d�e;and last,to any late charg�due under the Note. �--r� _
<br /> 4. C4arges,�ft�s. Borrower shall pap a1L�sr.es. assessments,charges.fines and impositions arnx�aztable to the -� ,
<br /> �P�Y which may s�ain psioriry over this 5r�uity Instn�ent, and leasehold puymeats or gro� n�s, if any. .
<br /> �,:,r Borrawes s�aU p�y tluese obligations m the mannzr provi8ed ia.;�asag:aph 2.or if not paid in thnt mannet.L'orrower�°t .,
<br /> pay thcmacarime directly tothe geison owedpayment.BorrowEr�ir.�l:pnomptly fuc�is6 to l.Ender all notices of amountsta Fe ".�.
<br /> paid under this paragr�h. If Borrower makes these paym+ents direcdy,Borrower shall prompdy fivaish eo Lender recei�t.: , ----,:---:-
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<br /> evidencing the pay�s. :�:.�::'..:... . ,�", _.:
<br /> • Borrower shall ga-c�rptly disci�aarge any liag wisich haspriority ov8r tb2s Security lnswment unl�ss�orrower. (a) , ;i"' . .��"��::...'.
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<br /> � agras In writiag to���aymem of the abligation s�ared by the lien in a manner acceptable ao L�cnder;N}�aR:�sts in good �'` ::;3 . ���::�:�
<br /> � faith the lien by.or defends againse e�forcem�nt of the lien in,legal prooeedings wiuch in the Leader's���^s�n aperate to •�*�
<br /> prevent the enforcement of d�e lies�: or (c)secures from th� holder of the lien an agreement satisfacr.ocy w I.end+� �!.�, ., �,;�.='�'�._:�.
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<br /> :�: .,� subardinuting the 1ie�ru this Securiry Instrumen:. If Leader determines that any pan of the Property is sabject to a liras . . .,:,;:+�!,,1�`'t
<br /> ' which may attain prie�uy over this Security Instn�nsc�s�.I.ender may give Borrower anodce 9dea Jrf t,r:a. Borrower �k� �`
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<br /> shall satisfy the lien or take one or more of the�tir�s set farth above wtthin 10 days of the giving of n�7�ae. ,� y}i�).",�•'�"' �
<br /> ' - `�'V'Wr �s;
<br /> ._ ,.. S. �rd or�+nperty Insarnnce. Borrawer shall kee�p the impmvements now existing or here�v:�ereae�J on the �F y,.� .::: . :;;.;
<br /> property insuied against loss by fire. ha7ards inciuded withsxi the term 'eatended coverage" aud any other hazards. ��:,���;�,",+!'�•"'.�,;
<br /> including ftaods er tlooding,for vd6ich l.ender mqazires insuran�e. TT�i,ls insurance shall be m�intained in the amaunts and �'°"w-'`.
<br /> :.:..;- for ths periads that Lender requires. The insuran:e c�rrler provtding the insurance shall be chosen by Bortower subject to -
<br /> , ' Lender's appmval arilch shell aot be unreasonably withheld. If BoaoRer fa�'is to maintain wverage descrihed abave. -�- ��
<br /> Lender may,at Lender's aprion,obtain coverag�to pmtest Lender's rip,bts in the Property in accordause with P�B�Ph 7. ---— =--_
<br /> • All insurance policies and rertewals shall be acceptabie to Lender and shall inclnde a standard mortgage clavse. — L
<br /> Lender shall have the rfght to hold tlae policies ansl renewals. If Leader requires, Boaower shall prompt3y give to Lender ��
<br /> . alt receipts of paid premiwns and renewal noiloes. In the event of loss,Borrower shall give pmmpt notice to the inswance �_��.�_�_
<br /> carrier and LenQer. i.eader may m�ke proof of lo�s if not made promptly by Bornnwer. ; . _
<br /> r Unless Lender and Boaower othenvise agmx ia wtiting,ictsnruace proceeds shall be applied to rest�as�tion or repair of i'.� -�•-$_�-�f�--: ---
<br /> [1>e Fraperty dama8�.if the restoradon or repair is eoonomically feasible and Lend�r's securlry is not lessened. lf the ����-
<br />:�;;;� ' restnsaric�n or repai,r is not economically feasible or Lender's sr�auity would be lessened.the insurance proceeds shall be }' �-: �
<br /> _;.,,;.,. appli�ta ttte sums sr.c�ucd by this Securiry Instniment. wher�i:T or not then dus,witb any eacess paid to Borrower. ti ��� - - _
<br /> . � '` Borrotiver abandons t3�r Prapzrty,or does not anqover arithin 30 days a norice from Lender that the insurance carrier has =" '°a _
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<br /> offered to settle a cl�.m,then Lender may collect tl;e insurnnce proceeds. Lender may use the pmceedt to repair or restore ��• �J �=�:'� -
<br /> ct •
<br /> . the Property or to pag sums secured by chis Secursty instYUment,whether or not then due. The 30-day pzr�od will begin .'�����.',.'�
<br /> when the notice is given• � . t�.-; _
<br /> Unless Lender and Borrower otharwise a�in writing, any application of proaeeds to pr{tCip��2JDtiat extend or .� ..�;;.,,,.�_..::;;,.._ -
<br />. pestpone the due date of the monthly paym¢nts refernd to in paragrap6s 1 and 2 or change the a�ount�of t$e payments. If .;.����j:
<br /> under paragcuph 21 che Property is acquirod by Lender, Borcower's right[o any insurance policies and procceds resulting _� 4 �
<br /> from damage to ihe Property prior ro the acquisition shall pass to Lender to the extent of the sums secured by this Securiry � _ w--�-L-
<br /> � Insm�ment immsdiately prior to the acquisition. ;��''�.::. ' ` .
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