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201302832 UNIFORM COVENANTS. Borrower and 3..euder covenant and agree as lb:lows: I. Payment of Principal and Interest;Prepayment and Lt Borrower shall promptly pay when duc the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Nom. 2. Funds for Tastes and Insurance. Subject to applicable taw or to a written waiver by Lender,'Borrower shalt pay to Lender on the first day ofeach iTiOnth,until the Note is paid in FAB.a son( Funds')foe:(a)yew:iv taxes and assess which may attain priority over this Security Instrument as a hen on the Property:(b)yearly leasehold payments or ground Ten n,.on the Property,if any:(c)yearly hazard or property insurance pet:mini:is:(d)yearly flood insmance premiums,if any:te)yearly mortgage insurance pEOMOIMS,if any:and(I)any sums ilayable by 13011'0WeI Leadee,M accordance with the provisions of paragraph at,in lieu of the payment of mortgage insuranee premiums. These items are called"Iiiserow Items."Lender may,at any nine,collect and hold Funds it:an iratilini not io exceed the maximum amount a lender for a federally related mortgage loan may require for Borrower's escrow account under the federa€Peal Estate Settlement Procedures Act of€974 as amended from time to time, 12 U.S.E.SS 2601 ei seq.("RESPA"),unless anothee law that applies to the Funds sets a ieSSef tintelini. if so. Lender may at any nine,collet:: and hold E:Ands in an amount roof to exceed the lesser amount Lender may estiniate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise is aecordance svaill applicable law. The Funds shall he held ru an institution whose deposits are insured by a federal agency,instrumentality,or entity(including Loader. if Lender is suet:an institution)or in any Federal Home Loas Bank. Lender shall apply the Funds to pay the Escrow[tenn. Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account.or verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such 3 charge. However,Lender may require Borrowei us pay a one-time charge For an independent real estate tax reporting service used by Lender in connection with this loan,unless applicable law provides otherwise. Unless at agreement is made or applicable law requires interest to he paid.Lender shall not be required to pay Borrower any interest or earning,on tht..Funds. Borrower and Lender may agree in writing,however,that interest shall be paid on the Funds. Lender shall give to Borrower,without ehatige,an annual accounting of the Funds;showing credits and debits to the Funds and the purpose thr which each debit us the Funds was made. The Funds are pledged as additional security for all sums secured by this Security/1-131tOillOM. IF the Funds held by Lender exceed the amounts permitted to be held by applicable law.Lendet shall account to Borrower for the excess Funds is accordance with the requirements of applicable law. If the amount of the Funds held by Lender at any time is not sufficient to pay the Esetow items when due. Lender may so notify Borrower a a:riling,and.in such case BOtTOWei'shall pay to Lender the zuratunt necessary to make-up the deficiency. Borrower shall make an the deficiency s so more than twelve monthly payments,at Lender's sole di secedes. Upon payment is full of all sums secured by this Security instrument..Lender shah promptly refund to Borrower any Funds held by Lender. if under paragraph 21,Lender shall acquire or sell the Property,lender,prior to the acquisition or sale of the Property,shall apply any Funds held by Lender at the rinse of acquisition or sale as a credit against the sums secured by this Security Instrument. 3, Application of Payments. Unless applicable law provides otherwise,all payments received by Lender tinder paragraphs I and 2 shall he applied:first,to any prepayment eliarges due under the Note;second.to athOlinn,payable ncolor paragraph 2;third,to interest due: fourth.to principal due:and last.to any late charges due under the Note 4. Charges,Liens. Borrower shall pay ail taxes,assessments,charges.Fines aild impositions attributable to the Property,which may attain priority over this Security Instrument,and leasehold payments or ground rents. if any. Borrower shalt pay these obligations in the 11-1,3Mler provided in paragraph 2, or if not paid in that manner.Borrower shall pay them on time directly to the person owed payment. Borrower l3onowes hail promptly thrush to Lender all notices of amounts to be paid under this paragraph. if Borrower:sakes these payments illicaollY•Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(al agrees in writing,to the payment of the obligation secured by the lien in a manner acceptable so Lender:(bi contests in good faith the lien by,or defends iigainst entbrcement of the lies in. egal proceedings which in the Lender's opinion operate to prevent the enforcement of the limn or ICI snores from the holder of the lien tin agreement SanSfaCtOty to Lender subordinating the lien to this Secutity instrument. if Lender determines that any part of the Property is subject to a lien. which may attain priority over this Security Instrument, Leader stay give Borrower a nOliCO identifying the lien. Borrower shall satisfy the her or lake one or more of the actions set forth above within 10 day,of the giving of notice. Hazard or Property Insurance Borrower shall keep the improvements non;existing or hereafter erected on the Property insured against loss by lire,hazards included within the term"extended coverage"and any other hazards,including flood;or flooding,for which Leader requires insurance. This insurance shall he maintained in PIC al:3011MS and for the periods that Leader requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Leader's approval,which shall not be unreasoaably withheld. if Borrows' fails to maintain coverage described above,Lender may,at Lender's option. obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause_ Lender shall have the right to hold the policies and renewals. If Lender requires,Borrower shall promptly give to Lender all receipts of paid peerniums and renewal notices, In the event of loss,Brierower shall give prompt notice to the insurance carrier and Lender. I ender may;DAC proof of loss if not made promptly by Borrower. Utl:OSS Lender and Borrower otherwise agree it:writing,insurance proceeds shall be applied to restoration or repair of the Property damaged„ if the restoration or repair is econornicaliy feasible and Lender's security is not lessened, If the restoration or repair is not economically feasible or Lender's security would he lessened, insurance proceeds shall be applied to the;sums secured by this Security instrument,whether or not then due,with any excess paid to Borrower. If Borrower abandons the Property,or does not answer within 30 days a notice front Lender that the insurance cart-se;'has offerer:to settle a claim,then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security instillment,whether or not then due,the 30-day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing.any application of proceeds to principal shall not extend ot posipone the due date of payments rekrred to in paragraphs 1 and 2 or change the amount of the payments If under paragraph 21 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition 6, Oceupane',, Preservation, Maintenance and Protection tit'the Property', Borrower's Loan Application; Leaseholds. Borrower shall occupy.establish.and use the Property as Borrower's principal residence within sixty days after the execution of this Seenrity ins:in:neat and shall continue to occupy the Property as Borrower's principal residence unless Lender Otherwise agrees in writing,whirl; consent shall not be unreasonably withheld,or Ull:e,n;extenuating circumstances exist which are beyond Borrower's eontrol Borrower shall not destroy,damage or impair the Property,allow the Property to detenorate,or commit waste on the Property. Borerywer shall be in default if any forfeiture action or proceeding,whether civil or criminal.is begun that in Lender's good faith judgment could result in tbrfeiture of the Property or otherwise materially impair the lien created by this Security instrument or Lender's dismissed with a ruling that,in Lender's good faith determination,precludes forfeiture of the Borrower's interest in the Properly or other material impairment ssf the lien created hr this Security instrument or lender's security interest Borrower shall also be in default if Borrower,during the loan application process,gave materially false or inaccurate information Or StateiriCinS to Leader(or tailed to provide Lender With any material intOrmation'y in connection with the loan evidenced by the Note.including,but not limited to,representations concerning Borrowers occupancy of the Property as a principal residence. If this Security instrument is on a leasehold,Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property,the leasehold and the fee title shall not merge unless lender agrees to the litergin'in writing.