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<br /> 90�-�oois�
<br /> U�tlFOltM CovENntv7�s Borrower an�Lender covenant and ugrcr as iallow,:
<br /> 1. P�yment of Prtncipal and�rtterest;Prepayment and I.ate Charges. Hc�rrower shall rrumptly pa}� whcn due
<br /> the principal af and interest on ihe debt e��idenced hy the Note and any prepayment and late cha�ges due under thc Notr.
<br /> 2. Hunds for Taxes itnd Insuranee. Subjeet ta upplicable laH�or to a w•riuen�vai��er by Lender,Borro��cr tihali pay
<br /> � ta Lcadcs on th:da}�manthip pa}mtats are due und�r tht Rotc, until th�Notc is paid in fu11,a�um("Funds")cqual to
<br /> one-twelRh of: (a) yeurly taaes and a�.cessme�t� which may attain priority over this Security Instrument; (bl yrarl}
<br /> leasehold paymcnts or ground rents on the Praperty. if any; (c) y�early hazard �ncuran�e premiums; and (d) y�rarl}�
<br /> � mortguge insu�ance premiums�if any. These items are calted "escrow items." Lender may estimat�the Fundc due on the
<br /> hssis of ct�r[est dsta ant4 feasonat�lc e54i[nAtes of FuFUre escra�ti�items.
<br /> The Funds shall be held in an institutian the deposits or accounts of which are insured or guaranteed hy a Pederal or
<br /> state agency (including Lender if Lender is such an institution). Lender shaU apply the Funds to pap the es�ro��� items.
<br /> � I.ender may not charge for halding and applying the Funds,analyzing the account or verifying the escrow items,unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits Lender ta make such a charge Borro�ver and
<br /> � Lender may agree in writing that inter�t shall be paid on the Funds. Unless an agrecment is made or applicable law
<br /> requires interest ta be paid, Lender shall not be required ta pay Borrower any interest or earnings an the Funds. Lender
<br /> shall give to Borrower,without charge,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 /> this Security]nstrument.
<br /> lf the amaunt of the Funds held by Lender.together��ith the future monthly payments of Funds pay�able prior to
<br /> the due dates of the escraw items,shall exceed the amount required to pav the escraw items when due,the excess shall be,
<br /> at Horrower'�option,either promptly repaid to Borro���er or credited to Horrower on monthly payments o1'Funds. '°ih�
<br /> amount of the Funds held by Lender is not sufficient to pay the escro�v items when due.Barra«�er shall pay to Lender any
<br /> amount�ecessaty to make up the deficiency i�one or more payments as required by Lcnder.
<br /> Upon payment i� fu1)of all sums secured by this Security lnstrument.Lender shall promptly refund ta Borrow•er
<br /> any Funds held by Lender.If under paragraph 19 the Property is sold or acquired by Lender,Lender sha11 apply,no later
<br /> than immediately prior to the sale of the Property or its acquisition by Lender,any Funds held by Lender ai ihe tirne oi'
<br /> application as a rredit agaimt the sums secured by this Security�Instrument.
<br /> 3. Application of Payments. Unless applicabte law pro�•ides othenvise.all payments received by Lender under
<br /> paragraphs 1 and 2 shall be applied:first.to late charges due under ihe Nate;second,to prepayment charges due under the
<br /> Note;third,ta amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> . 4. Charges; Liens. Borrower shall pay all taxes, assessments,charges, fines and impositions attributable to the
<br /> Properiy which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br /> Borruwer shall pay thc�,r obligations in tiir n►anner provided in paragraph 2,or if not paid in that man�ier, Borrower shall �
<br /> pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all noticrs of amounts :
<br />� to be paid under this paragraph. If Borrower makes these pa}ments directly, Borrower shall promptl�furnish to Lender
<br /> receipts evidencing the payments. .
<br /> Botrower shall promptly discharge any lien which hasL priorit�over this Security Instrument unless Borrower:(a) ;
<br /> ?g*�in��ting r.,IhP FAY�Pne.,f thP[.1}1��OV51IZAt2 CPI�I�TPf,�k1y T:Sp'�IPIZ��?m?tl�Pi a(`(`P�11AI1�P 1(1 I Pil(�PT��F1�CntlTPCTC 1R D(1(1[i --
<br /> faith the iien by,or defends against enforcement af the lien in,legai proceedings which in the Lender's upiniun uperate to _
<br /> prevent the enforcement of the lien or forfeiture of any part of the Propeny;or(c)secures 1'rom the holder of the lien an �
<br /> agreement satisfactary 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 priority over this Security Instrument, Lender may give Borrower a
<br /> notice identifying the lien.Borrower shall satisfy the lien or take ane or more of the actions set forth above within 10 days . �
<br /> of the giving of notice. �
<br /> 5. Ha7ard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property '
<br /> insured against loss by fire,hazards included within the term"extended coverage"and any ather hazards for which Lender �
<br /> requires insurance. This insurance sha11 be maintained in the amounts and for the periods that Lender requires. The
<br /> insurance carrier providing the insurance shall be chosen by Bo*row•er subject to Lender's approval which shall nut be �
<br /> unreasonably withheld. ` '
<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 Lender :'��
<br /> all receipts of paid premiums and renewal notices. In the event of'loss,Borrower shall give prompi notice to the insurance
<br /> carrier and Lender.Lender may make proof of loss if not made promptly by Borrower. ^
<br /> Unless Lender and Borrow•er otherwise agree in writing.insurance proceeds shall be applied to restoration or rep�.ir , '
<br /> of the Property damaged.if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br /> restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall 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 noi answer within 30 days a notice from Lender that the insurance carrier has
<br /> offered to settle a claim,then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br /> the Property or to pay sums secured by this Security Instrument,whether or not then due. The 30-day period will begin
<br /> when the notice is given.
<br /> Unle�.s l.ender and Rorrower otherwise agree in writing,any applicati�n of proceeds to principal shall not extend ur
<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 S9 the Property is acquired by Lender,Borrower's right to any insurance poiicies and proceeds resulting
<br /> from damage to the Propeny prior to the acquisition shall pass to Lender to the extent of the sums secured b�•this Security
<br /> Instrument immediately prior to the acquisition.
<br /> 6. Preservation and:�fuintenance of Property;Leaseholds. Borrower shall not destroy.damage or substantially�
<br /> change the Property. allow the Propeny to deteriorate or commit waste. If this Security Instrument is c�n a lea�ehold.
<br /> Borrower shall comply with the provisions of the lease.and if Borrower acquires fee title ro the Property.the ieasehold and �"`__ '
<br /> fee t�tleshall not merge unless Lender agrees to the merger in writing. '
<br /> 7. Protettion of Lender's Rights in the Property; 1'Iortga�e Insurance. lf Bottc�wrr failti t� rerform thc
<br /> covenants and agreements contained in th�s 5ecurity lnstrument,or there is a legal proceedmg that ma}•!.igmficantl�•:iflcct
<br /> Lender's rights in the Pro�erty (such as a proceeding in bankruptc}•, probate, for condemnat�on or to enforrr law•� ��r �
<br /> regulalions),then Lender may do and pay for whatever is necessary to protect the�alue of the Prc.pert}•and Lender'�r�ght�
<br /> in the Property. Lender's actions may tnclude paying any �ums secured by a lien u�h�ch ha� rnnrity ��vrr thi. Srrunt}• t�
<br />_ � lnstrumenl,appeanng m murt.paying reasonable attarneys'feec and enter�ng on thc Yrc�perty m makc re�a►r� Ahh��ugh �
<br /> Lender may takc acu�n under this paragraph 7,Lender doc�not ha�•e to do tin.
<br /> , Any,►mnunt.di�hur.ed hy Lender under th�s paragra�h 7 tihall bec<�mr additu�n:al drM�+f l3��rr��wcr�rc��red h� thi� �
<br /> Secunty In�trumcnt L'nletis Rnrr:�aer and I.ender agree t��ther tern7s�,f ray mcnt,the�r ami�unt,�h.�ll hcar intrrr�t tr�+m �p
<br /> ' ihe datc ��f ditihur.cmcnt a! thr N�tc ratc .�nd �hall be �ayahlr, u�iih intrrr,i, ur�m n��1�,-r lt��rn I rniir� t�� H�a���wrr ►,t'f
<br /> +�sj'` reyuetitit:�;psy ment •�
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