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<br /> TOGETHER with all the improvements now or hereafter erectetl on the property, and all easements, rights, appurtenances and
<br />� fixtures, all of which shall be deemed to be antl remain a part of the property covered by this Security Instrument; antl ail of the foregoing,
<br /> together with said properry(or the leasehold estate if this Security Instrument is on a leasehold)are hereinafter referred to as the"Properry".
<br /> Complete if applicable:
<br /> This Property is part of a condominium project known as
<br /> This Property includes Borrower's unit and all Borrower's rights in the common elements of the condominium project.
<br />� This Property is in a Planned Unit Development known as
<br /> Borrower covenants that Borrower is lawfully seised of the estate hereby conveyetl and has the right to grant antl convey the
<br /> Property, antl that the Property is unencumberetl, except for encumbrances of record. Borrower warrants and will defend generally the
<br /> title to the Properry against all claims antl demands, subject to encumbrances of record.
<br /> Borrower antl Lender covenant and agree as follows:
<br /> 1. Payment of Principal, Finance Charges and Other Charges. Borrower shall promptly pay when due all amounts borrowed
<br /> under the Credit Agreement, all finance charges and applicable other charges antl collection costs as provided in the Credit Agreement.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law, Lender,at Lender's option, may require Borrower to pay to Lender
<br /> on the day monthly payments of principal and finance charges are payable untler the Credit Agreement, until all sums secured by this
<br /> Security Instrument are paitl in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including
<br /> contlominium and lanned unit develo ment assessments if an which ma attain riority over this Security Instrument, and ground
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<br /> - 'n if a licable all
<br /> rents on the Property, if any, plus one twelfth of yearly premium installments for hazard insurance antl flood i surance, pp ,
<br /> as reasonably estimatetl initially and from time to time by Lender on the basis of assessments antl bills antl reasonable estimates thereof.
<br /> Borrower shall not be obligatetl to make such payments of Funds to Lender to the e�ent that Borrower makes such payments to the
<br /> holder of a prior mortgage or tleed of trust if such holder is an institutional Lender.
<br /> If Borrower pays Funds to Lender,the Funtls shall be held in an institution the deposits or accounts of which are insured or
<br /> guaranteed by a Federal or state agency(inclutling Lender if Lender is such an institution). Lender shall apply the Funds to pay saitl taxes,
<br /> assessments, insurance premiums and grountl rents. Lender may not charge for so holtling and applying the Funtls, analyzing said
<br /> r wer interest on the Funds and a licable law
<br />, account or verifying and compiling saitl assessments antl bills, unless Lender pays Bor o pp
<br /> ermits Lender to make such a char e. Borrower antl Lender ma a ree in writin at the time of execution of this Security Instrument
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<br /> th t interest on the Funds shall be aid to Borrower and unless such a reement is made or a licable law re uires such interest to be
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<br /> paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower,without charge,
<br /> an annual accounting of the Funtls showing credits antl debits to the Funtls and the purpose for which each debit to the Funtls was matle.
<br /> The Funds are pledged as additional security for the sums securetl by this Security Instrument.
<br /> If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due
<br /> tlates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount requiretl to pay said taxes, assessments,
<br /> insurance premiums and ground rents as they fall tlue, such excess shall be, at Borrower's option, either promptly repaid to Borrower or
<br /> credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes,
<br /> assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up
<br /> the deficiency in one or more payments as Lender may require.
<br /> Upon payment in full of all sums securetl by this Security Instrument, Lender shall promptly refund to Borrower any Funds
<br /> heltl by Lender. If under paragraph 22 hereof the Property is sold or the Property is otherwise acquiretl by Lentler, Lender shall apply, no
<br /> nd I b Lentler at the time of a lication
<br /> later than immediately prior to the sale of the Property or its acqu�sition by Lender, any Fu s he tl y pp
<br /> 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 Lender under the Credit
<br /> Agreement and paragraphs 1 and 2 hereof shall be applietl by Lender first in payment of amounts payable to Lender by Borrower untler
<br /> paragraph 2 hereof, second, (in the order Lentler chooses) to any finance charges, other charges antl collection costs owing, and third,
<br /> to the principal balance untler the Credit Agreement.
<br /> 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under any
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<br /> mortgage, deed of trust or other security agreement with a lien which has priority over this Security Instrument, including Borrowers
<br /> covenants to make payments when due. Except to the extent that any such charges or impositions are to be paid to Lentler under paragraph
<br /> 2, Borrower shall pay or cause to be paitl all taxes,assessments and other charges,fines and impositions attributable to the Properry which
<br />� may attain a priority over this Security Instrument, and leasehold payments or ground rents, if any. Within five tlays after any demand by
<br /> Lender, Borrower shall exhibit to Lender receipts showing that all amounts due under this paragraph have been paid when due.
<br /> 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against
<br /> I loss by fire, hazards includetl within the term "extendetl coverage," flootls antl such other hazards as Lentler may require and in such
<br /> amounts and for such eriods as Lender ma re uire. Unless Lentler in writin re uires otherwise,the policy shall provide insurance on
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<br /> a replacement cost basis in an amount not less than that necessary to comply with any coinsurance percentage stipulated in the hazard
<br /> insurance policy, antl the amount of coverage shall be no less than the Maximum Principal Balance plus the full amount of any lien which
<br /> has priority over this Security Instrument.
<br /> The insurance carrier provitling the insurance shall be chosen by Borrower subject to approval by Lentler;provitled,that such
<br /> a roval shall not be unreasonabl withheld.All insurance olicies and renewals thereof shall be in a form acceptable to Lentler and shall
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<br /> include a standard mortgage clause in favor of and in a form acceptable to Lender. Lentler shall have the right to hold the policies antl
<br /> renewals thereof, subject to the terms of any mortgage, deetl of trust or other security agreement with a lien which has priority over this
<br /> Security Instrument.
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