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<br /> UNI�oRM CovEtvqN'1's. Borrower and Lender cavenant and agree as follows.
<br /> 1. Fayneent of Priecipal and lnterest;Prepayment a�d I.atc CharRe�. Borrowcr shall prumptls pay ��•hen duc
<br /> the pri�cipal uPand interest an the debt evidenced by the Nate and any prepayment and late chargec due undcr t he Nute.
<br /> �2. Funds for Taxa ated Insueance. Subject to applicable law or to a written waicer by Lender,Aortuw•er Fhalf pa3
<br /> � to Lender on the day manthly payments are due uncle� dte Note. u��E il the Note is paid in ful{,a,um("Fund�')equal to
<br /> one-twelfth of: (a) yearly taxes and assessments which may attuin priority over this Securytl� lastrument; (b) }•early
<br /> � latsehold payments or ground rents on the Praperty. if any; (c) yearly hazard insurunce premiums; und (d) y�early
<br /> � c�1oi tgagz ivau�a��cr prcn�ium�,ii uny.These items are calied"escraw items,"�ender may estimote the Funcis due on the
<br /> basis of curnnt data and reasanable estimates oPfuture escrow items.
<br /> The Funds shall be held in an institutiun the depasits or accounis of which are insured or guaranteed by a federal or
<br /> � sUttt agency(including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br /> Lender may not charge for holding and applying the Funds,analyzing the account ar verifying the escrow items,unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits I.ender to make such a charge. Horrower and
<br /> Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> requires interest to be paid, Lender shall not be required to pay Borrowe;�a;ist�:�:��e.amings on the Funds. Lender
<br /> sha11 give to Bonower,without charge,an annual accounting oPthe Funds showing credits and debits to the Funds and the
<br /> � purpose for whieh each debit to the Funds was made.The Funds are pledged as additional security for the sums secured by
<br /> this Security lnstrament.
<br /> If'the amount of the Funds held by Lender,together with the future monthly payments of Funds payable prior to
<br /> ihe due dates of'the escrow items,shall exceed the amount required ta pay the escrow items when due,the excess shall be.
<br /> at Borrower's option,either promptly repaid to Borrower or credited to Borrawer on monthly payments of Funds.If'the
<br /> amaunt of the Funds held by l.ender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br /> amount necessary to make up the deficiency in one or m�re payments as required by Lender.
<br /> Upon payment in fu1)of all sums secured by this Security Instrument, Lender shall promptly refund to Borroa•er
<br /> any Funds held by l.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 or its acquisition by Leader.any Funds held by Lender at the time of
<br /> application as a credit against the sums secured by this Security Instrument.
<br /> 3, 4p�l�r��oa of Payments. Unless applicable law provides otherwise,atl payments received by Lender under
<br /> paragraphs 1 and 2 shall bt applied:first,to Iate charges due under the Note;second,to prepayment charges due under the
<br /> Noie;third,to amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4. Chatrges;Lieac, Aorr�wer shall gay all tax�s,as.sessments,charges,fines and impositions attributahle M the
<br /> Property which may attain priority over this Security Instrument, and leasehold payments or ground 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 on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts '
<br /> ; to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender -
<br /> receipls evidencing the payments. �
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<br /> �ii8hci��a;l Nr�,uNtjy u'iaci,urgr any tien wi�icn nas priorny over tnis Security instrument unless$orrower:�a) �_,s:_ ,
<br /> agrees in writing to the payment of'the obligation sccured by the lien 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 /> agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of •.*-. :�-
<br /> the Propeny is subject to a lien which may attain priority over this Security lnstrument. Lender may give Borrower a _
<br /> notice identifying the lien.Borrower shal)satisfy the lien or take one or more of the actions set forth above within 10 days ! __
<br /> of the giving of notice. ';
<br /> 5. Hazard 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 other hazards for which Lender
<br /> require� 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 /> 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 prompt notice to the insurance ::�
<br /> carrier and Lender.Lender may make proof of'loss if not made promptiy by Borrower.
<br /> Unless I,ender and Bonower otherwise agree in writing,insurance proceeds shall be applied to restoration or rep�ir ��.�'�
<br /> of the Propeny 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 iessened,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 does not answer within 30 d�ys 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 peric�d will begira
<br /> : when the noiice is given.
<br /> � Unless Lender and Borrower oiherwise agree in writing,any application of proceeds to 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.lf
<br /> under paragraph 19 the ProFerty is acquired by Lender,Borrower'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 ot Property;Leaseholds. Borrower shall not destroy,damage or substantially
<br /> change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold.
<br /> . Borrower shall comply with the provisions of the lease,and if Horrower acquites fee title to the Property,the feaschold and :_ --=__
<br /> � fee title shall not merge unless Lender agrees to the merger in writing. �
<br /> 7. Protection of Lender's Rig6ts in the Property; .Nortgage Insurance. If Borrower fails to perform the
<br /> covenants and agreements contained in this Security Instrument,or there is a legal proceedir.g that may significantly afiect
<br /> � Lender's tights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or t��enfurcc laws ur i
<br /> re¢ulations),then Lender may�io and�+ay P�*wha!ever is r.ecessary to protect the val�c of t��Pro;,e�ty�sr.�±!e^�e%-r�gh!, �
<br /> � in the Property. Lender's aetions may include paying any sums secured by a lien which hati rriority over this Securit} 7
<br /> L lnstrument,appearing in court.paying reasonable attorneys'fees and entcring on thc Property to make rc�a�rs. Altheiugh �
<br /> I,ender may takc acnon under this paragraph 7.Lender docs not have ta do sn.
<br /> An�•amountc disbutsed by Lender under this paragraph 7�hall berome adduional deht c�f Hc�rr��wer,ecureJ by th��
<br /> � Security Instrumen�.Unk�s Butrc�wcr and Lcnder agree to nther term�of p:�yment.the�e am��unt,tihall hear intrrrtit frnm �
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<br /> the date �f di�bursement at the Notc ratc and shall hc peyablc, ��rth intere�t, ur�m ni�t�cc fr��rn I cniirr t�� H��rn+wcr �
<br /> ___ requesting paymeni.
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