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<br /> Uw�oRnt Cov�NnNTS. BorroHer and Lencler crn�enant and agree�is fbllow�:
<br /> 1. Payment a!Principal and Interest; Prepnyment and I.atc Chxrges. Borro�ver �hall promptly pay� when dur
<br /> the principul of and i�t�rest on the debt evidenced by thc Note and uny prep�yment and late chargec due under the Note.
<br /> 2. Funds Poe T�x�n�d I.-.sut�tncr. Subjc:t ta applicablc tau•or to a K•rittcn w•aiver by� Lcn�icr,8orra�cr shal!p�y
<br /> � to Lender on the day monthly payments are due under the Notc,wnti)the Note is paid in Pull,a sum("Funds")equal�o
<br /> ont-twetfth of: (a) y�ariy taacs and asscssnients which may nttain priority aver tfiic Securitl Instrument; (b) yenriy
<br /> leasehold payments or ground rents on the Praperty, if any; (c) yearly haza�d insurance premiums; and (d) yearly
<br /> � martgase inc►irance j►remiams,if any. These items Are ealled"eser�w itemc"i,ender m�y ectimat��hc Funds dne en the
<br /> hASis of cunent data and reasonable estimates of tu:ure escrow items.
<br /> The Funds shall ba held in an institution the deposits ar accounts of which are insured or guarantetd by a federaf ar
<br /> � state agency(including Lender if Lender is such an institution). i.ender shall apply the Funds to pay the escra�v items.
<br /> Lender may not charge for holding and applying the Funds,analyzing the accaunt or verifying the escrow items,unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Barrower and
<br /> Lender may agrce in writing that i�terest shall be paid on the Funds. Unless an agreement is made or apglicable law
<br /> reyuires interest to be paid, Lender shall not be rcquired to pay Horrower any interest or eamings on the Funds. Lender
<br /> shall give to Borrower,without chargc,an annual accounting of the Funds shawing credits and debits to the Funds and the
<br /> � purpose for which each debit to the Funds was made.The Funds are pledged as additional security for the sums secured by
<br /> � ihis Security lnstrument.
<br /> If the amount of the Funds held by Lender.together with the future monthly payments of Funds payable prior to
<br /> the due dates oi'the escrow items, shall exceed the amount required to pay the escrow items when due.the eacess shall be,
<br /> at Borrower's option.either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br /> amount of the Funds held by Lender is not sufficient to pay the escrow items when due,Borrower shall pay to Lender any
<br /> amount necessary to make up the deflcicncy in one or more payments as reyuired by Lender.
<br /> Upon payment in full of all sums secured by this Security lnstrument, Lender shall promptly refund to Borrower
<br /> : any Funds hetd by I.ender.If under paragraph 19 the Property is sold or acquired by Lender,Lender shall apply�no later
<br /> � than immediately prior to the sale of the Property o�its acquisitian by Lender,any Funds held by Lender at the time of
<br /> application as a credit against the sums secured by this Security Instrument.
<br /> : 3. Applicadon of Payments. Unless applicable law p*ovides otherwise,all payments received by I.ender under
<br /> � paragraphs 1 and 2 shall be applied:first,to late charges due under the Note;second.to prepayment charges due under the
<br /> � • Notr,third,to amounts payable under paragraph 2;fourth,to interest due;and last.to principal due.
<br /> 4. CU�rges;Liens. Borrower shall pay all taxes. assessments, charges,fines and impositions attributable to the
<br /> - Property which may attain priorit},over this Security lnstrument, and leaseho2d payments or grounci rents, if any. -
<br /> Borrower shall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall '
<br /> pay them an time directly to the person owed payment.Barrower shall promptly furnish to Lender all notices af amounts ` .
<br /> to be paid under this paragraph. If Borrower makes these payments directly.Borrower shall promptly furnish to L.ender
<br /> r�eiFts evideacing the payments. � -;;�
<br /> . &±neu,�F�hAn�*�mpi�y�sc�..oP 82l��ItL+4Y}21C�!��*i�ritY nynr 1}!L S!'r`LIlt�I�►Slt�.l.*ri£S!I nnlocc R�rrn�yP�_!al _�-
<br /> agras in writing to the payment of the obligation secured by the Iien in a manner acceptable to Lender;(b)contests in good "��� -
<br /> faith the lien by,or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to � . '
<br /> prevent the enforcement of the lien or forfeiture of any part of the Property;or(c)secures from the holder of the lien an
<br /> ' agrament satisfactory to Lender subordinating the lien to this Security Instrument.If Lender determines that any part of
<br /> ; the Property is subject to a lien which may attain prio�ity over this Security Instrument, Lender may give Borrower a °
<br /> notice identifying the lien.Borrower shall satisfy the lien ar take one or more of the actions set forth above within 10 days : --
<br /> of the giving of notia. ��,
<br /> 5. Ha�ud Insurance. Barrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured against loss by fire,hazards included within the term"eatended coverage"and any other hazards for which Lender
<br /> requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br /> insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br /> nnreasonably withheld. i
<br /> " All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. ' '
<br /> ' Lender shall have the right to hold the policies and renewals. If Lender requires,Borrower shall promptly give to I.ender �''. `
<br /> all roceipts of paid premiums and renewal notices. In the event of loss,Borrower shall gice prompt notice to the insurance �
<br /> carries and Lender.Lender may inake proof of loss if not made promptly by Borrower. j�,
<br /> Unless Lender and Borrower oiherwise agree in writing,insurance proceeds shail be applied to restoration or repair � • `'
<br /> of the Property damaged.if the rtstoration or repair is economically feasible and Lender's security is not lessened. If'the � . _
<br /> restoration or repair i�not economically feasible or Lender's security would be lessened,the insurance proceeds shal)be
<br /> applied to the sums secured by this Security Instrument, whether or not then due,with any excess paid to Borrower. If
<br /> Borrower abandons the Property. or dces not answer within 30 days a notice from Lender that the insurance carrier has
<br /> offerod to settle a claim,then Lender may collect the insurance proceeds.Lender may use the proceeds to repair or restore
<br /> the Propeny or to pay sums socured by this Security Instrument,whether or not then due.The 30-day period will begin
<br /> when the notice ic given.
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceeds ta principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under paragraph 19 the Propeny is acquired by Lender,Bonower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br /> Instrument immediately prior to the acquisition.
<br /> 6. Preservation and Maintenance o!Property;Leaseholds. $orrower shall nat destray,damage or substantially
<br /> change the Property. allow the Property to deteriorate or commit wsste. if this Security Instrument is on a leasehold.
<br /> Borxower shaU comply with the provisions of the lease,ar�d if Borrower acquires fee title ta the Property,the leasehold and '------ -
<br /> fce title shall not merge unless Lender agrees to the merger in writing. �
<br /> 7. Protection af Leader's Rights in the Property; :Nortgnge Insurance. If Borrower fails to perform thc !
<br /> covenants and agreements contained in this Security Instrument,or there is a legal proceeding that may significantly aflect '
<br /> L.ender's �ights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or '
<br /> regulations),then I.ender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br /> --�� in the Propeny. Lender's actions may inelude paying any sums secured by a lien which has pnonty over this 5ecurity �
<br /> ! Instrumeni,appearing in cuurt,paying reasonable attnrneys'fees and entcring on the Property to make rcpa�rs.Although
<br /> L Lender may take actian under this paragtaph 7.Lender does not ha�•e to do sa.
<br /> Any amounts disbursed hy Lender under this paragraph 7 shall hec�me add�t�onal deM uf Hc,rrowcr secured by this �r,,,
<br /> , Sei:unty Instrument.tJnlcsc Borroµ•er and I..ender agree t�other termti of payment,the�e amountti�hall brar intcre�l fr<�m 47�
<br /> thc date r.i di�bursement aI the '.Vutr tale ati�) +hall he pay��ble. «ith intere�t. ij�on n��uce from 1.rnder t�� fl��nc+wrr �,'•t�
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