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<br /> UNIF�URM CovEN�N7s. $urrower and I.ender covenant and agree as follows:
<br /> ('—" s. Pay�neat o!PiriACipal and lnte� Prep+�ymeat and Lte GhuQes. Borrower shall promptl� pay when due
<br /> { the prineipa!of and interest vn the debt evidenced by the➢Vote and any prepayment and late charges due under the Note.
<br /> � 2. F�nd�fo�Taxa and Ia:urance. Subject to applicable law or to a written waiver by Lender,Bonower shall pay
<br /> �, ta i,�d�r ai tl�e day���unihZy payments are due under the Note,t�ntil the Note is paid in Ilill.a sum("Funds")equal to
<br /> or�e•twelRh of (A�ye��1y taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br /> teasehoid psyanents or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> � mortg�ge insurance premiums,if any.Thae items are called"escrow itertis."Lender may estimate the Funds due on the
<br /> basis oPcurrent data and re�tsonsble e�limates of future escrow items.
<br /> � The Funds shall be hdd in an institution the deposits or accouats of which are insured or guaranteed by a federal or
<br /> state sgency(including Lender if Lender is such en institution). Lender shall apply the Fuads to pay the escrow iterru.
<br /> I.ender msy not charge for holding and applying the Funds. analyzing the account or verifjring the escrow items.unless
<br /> Lender pays Borrower interest on the Funds and spplicable law permits Lender to make such a charge. Borrower and
<br /> Lender m�y agree in writing that interest shall be paid on the Funds. Unless an agament is made or applicable law
<br /> toquires interest to be paid, Lender shsU nat be required to pay Borrower any intetest or earnings on the Funds. Lender
<br /> shall give to Borrower.without charge,an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> pnrpose for which each debit to the Funds was made.The Funds are pledged as additional security fo-the sums secured by
<br /> this Seeurity Instrument.
<br /> If ihe amount of the Funds held by Leader,together with the tt�ture monihly payments of Funds payable prior to
<br /> the due dates af the acrow items,shall eacud the unount required to pay the escrow items when due,the excess shall be�
<br /> at Bonower's option,either promptly repaid to Borrower or credited to Bonower on monthly payments of Funds.If the
<br /> unonnt of the Funds held by Lender is not su}I'icient to pay the escrow items when due,Borrower shall pay to Lender any
<br /> unount necessary to mt�lce up the deficiency in one or more payments as required by Lender.
<br /> Upon payment in full of all sums secured by this Socurity Instrument,Lender shall promptly refund to Bonower
<br /> any Funds held by Lrnder.If under paragraph 19 the Property is sold or a uired b Lender, ,no later
<br /> than immediatel �1 Y Lender shall aPP�Y
<br /> y prior to the salo of the Property or its acquisition by Lender,any Funds held by Lender at the time of
<br /> applicallon as a credit against the sums secured by this Secnrity Instrument.
<br /> 3. Apyliaitloa o!Payments. Unless applicable laa provides otherwise.all payments received by Lender under -
<br /> puagnphs 1 and 2 shall be applied:first,to late chuges due under the Note;second,to prepayment chsrges due under the �
<br /> Not�third,to unonnts p�yable under paragaph 2;fowth,to interest due;and last,to principal due. `
<br /> �• C�r�e�Lie�s. Borrower shall pay a11 taxes�as.sessments,charges,fines and impositions attributable to the •
<br /> Ptoperty ahich may itUun priority,over this Secwity Instrnment. and leasehold payments or ground rents, if any.
<br /> Borno�a shall pay these obligations in the manner providod in paragraph 2,or if not paid in that manner,Borrower shall � ,:
<br /> � D�Y than on time directly tn rl,�����a,.a��.:.�;;t.n�,;.���.s,�;;Y,��npify iurnish to i.ender aii notices of unounts � -
<br /> to be paid under ttus psragapb.If Borrower mafces these payments directly,Borrower shall promptly furnish to Lender ' �
<br /> raxipb evidencing the gaymrnts. .-
<br /> Bosrawer shall prompily discharge any lien which has priority over this Security Instrument unless Horrower:(a) ' �
<br /> a;ras ia wrriting to the payment of the obligarion secvred by the lien in a manner acceptable to Lender;(b)wntests in good
<br /> fiith the lien by�or defrnds against enforcemrnt of the lien in,2ega1 proceedings ahich in the Lender's opinion operate to
<br /> , prevent the enforcement of the lien or forfeiture of�ny part of the Property;or(c)secura from the holder of the lien an 11
<br /> ay+oement satisfactory to Lenda 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 Batrower a
<br /> notice idrntifying the lien.Borrower shall sitisfy the lien or take one or more ot the actions set forth above within 1 O days
<br /> of the giving of notice. ;
<br /> s• Hsr�rd Insurance. Borrower shall keep the improvements now existing or here�fter erceted on the Property � :�
<br /> intured against lass by fire.ha�rds includod within the term•'extended coverage"and any other hazards for which Lender �
<br /> requires insurance. This insurance shsll be maintained in the amounts and for the periods that Lender requires. The
<br /> insw�ance carrier providing the insurana shall be chosen by Horrower subject to Lender's approval which shall not be
<br /> unraavnably withheld. ,; �,
<br /> Aq insurance policies and renewals shall be acaptable to I.rnder and shall include a standard moRgage clause. ���. `
<br /> I.ender sbaU have the right to hold the policies and renewals.lf Lender requires�Sorrower shall promptly give to Lender � '
<br /> all raxipts of paid premiums and renewal notices.In the event of loss�Borrower shall give prompt notice to the insurance
<br /> curier and Lender.I.ender may make proof of loss if not made promptly by Borrower.
<br /> Unlas Lender and Borrower otherwise agree in ariting,insurance proceeds shall be applied to ratoration or repair
<br /> of the Property d�unaged,if the restorstion or repair is economically feasible and Lender•s sccurity is not lcssened. If the
<br /> ratoratian or repair is not economically feasible or Lender's seeurity would be lessened,the insurance proceeds shall be
<br /> applied to the sums socured by this Security Instrument,whether or not then due, with any eacess paid to Horrower. If
<br /> Borrower:bandons the Property,or does not answer within 30 days a notice from Lender that the insurance carrier has
<br /> olFerad to aettle a claim,then Lender may collect the insurana proceeds.Lender may use the proceeds to repair or restore
<br /> the Property or to pay sums secured by this Security Instrument,whether ar not then due.The 30-day period will begin
<br /> � ahrn the notice is givm.
<br /> Unless Lender and Bonower otherwise agree in ariting,any application of proceeds to principal shall not extend or
<br /> poatpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under paragaph 19 the Property is acquired by Lender,Borrower's right to any insurance policies and proceeds raulting
<br /> from damage to the Property prior to the acquisition shall pass to I.ender to the extent of the sums secured by this Security - ---
<br /> Instrument immediately prior to the acquisition. •
<br /> 6• Prderration and Mdetenance o!Proper�;I.easeho�dz, gorrower shall not destroy,damage or substantially
<br /> change the Property, allow the Property to deteriorate or cc�mmit waste. lf this Security Instrument is on a leasehold, �
<br /> Borrower shtll comply with the provisions of'the lease,and if Bonower acquires fee title to the Property,the leasehold and �
<br /> fee tide sh�ll not mergt unless Lender a�trees to tho�er�er in wr.!ing. �
<br /> 7. Protertton o!Lender's Rl�6b in the Property; Mortaage Insurance. If Horrower fails to perform the . �
<br /> eovtnan2s and agretments containai in this Soeurity lnstrument,or there is a legal proceeding that may significantly affect
<br /> � Lender's rights in the Proptrty (sueh as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br /> reEulationa),then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br /> in the Property. Lender's scttons may irtclude paying any sums secured by a lien which has priority oter this Secunty ��
<br /> � Instrument.appearing in coun,paying reasonablt attorneys'fees and entcnng on the Property to rnake repa�rs. Although , �
<br /> _ Lender may take action uader this paragraph 7,Lender das not have ta do so.
<br /> i Any amounts disbursed by Lender under this paragraph 7 shaU bccome add�t�anal�iebt of Aorrower cccured by this " `
<br /> ;' Secunty Instrument.Unless Bnrrauer and Lender agret to other terms of payment,these amounts shall bear mterest from
<br /> ,; the dste of disbursement at the Note rate and shaf) be payabSe. w�1h �ntcrest, up4n not�r� from t.rnder to H�trr��wcr
<br /> �: requesUng payment
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