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<br /> U1v�ottM CovEtvAt1'['s. Borrower and Lender covenant and agree as fc�ltows: � �
<br /> r 1. Payment of Priaci�tl and Iatere�ct;Prep�yment and I.ste G9��c�es. Borrower shall promptly pay when due
<br /> 1 she grincipal of and interest on the dehc evid�nced by the Nnte and any prepayment and late charges due under the Note.
<br /> 2. Fauds for Taxa asd Iasurancr. Subjest to�pptict5le faw or to a wntte�a watver by Lender,Borrower shall pay
<br /> - , to Lendtr an the day monthly payments are du�under the Note,un{it tht Note is paid in iutl,a sum("Funds'�equal to
<br /> ono-taelt�h of (ay yeariy tzxes arrd assessmee�t� which may attaan prcority over this Security Instrument; (b)yearly .
<br /> • leasehold paymenu ar ground rents on the Ftoperty, if any; (c) ye�rly ha.zard insurance prrmiums; and.(d)yeasrrly
<br /> � , mortgage insurance premiums.if any.'d'hese items are called"eserow items."d,ender may atimue the Funds.d��.a�.iho
<br /> - b�sis af current data and reasonable atim�tes of future escrow iiems. '
<br /> + � Ttrc Funds shall be held in aa instituti�a the deFosits or accaunts of which ue insured or guaranteed by a fed:rs4�r � � � �
<br /> � ste:r ags�c�('includiAg Lender if I.ender is such an insutution). Lender shal!apply the Funds to pay the escrow ite�. � . �
<br /> ��er a�a�aot cbarge far holding and applying the Funsis,enalyzing the account or verifying the aerow iterris,untess
<br /> 1[�a�er p���orrower int�rest on tht Funds and applicible!aw permits Lendtt tp make such a charge. Borrawer and '
<br /> �aider aug Egtiee in writing that interest shall be paid on the Funds. Unless an agreement is ntade or applicabte taw
<br /> re�quires int���be paid,i.ender shall not bo roquired to pay Bc►rrower any interest or arnings on tlte Funds. Lersder ' �
<br /> shall give to Bo:z�wet,withaut charge,an annual acconnting of the Funds showing credits and dsbits to the Fursds and the - � �
<br /> � ,��y.�ose for w£r��,each d-bit to the�'unds was mada 1`Ize Runds aze plodged as additianal security for the sums secured by ' �
<br /> � �:s�nrityIns�.•ttment. _
<br /> If tht a.:�o�nt af the Funds held by Lender,together with the futurt monihly payments ai Funds p�ayabte prior to -
<br /> tlae due dates d's ttu escrow items,sha11 excad the amount rtquired to pay the escrow itrms when due.the excess shall be, � �
<br /> �� st Borrawe�s option,eithnr promptly repaid to�orra�ver or credited t4 B�rrower on monthly payments of Funds.If ti:e .
<br /> amount of the Funds held by I.ender is not sufficient to pay the escrow items wt�en due,Borrower shall pay to Lender any.
<br /> amount necessary to enake up the deficiency in one or mare payments es required by Lender.
<br /> Upon payment in ful}of aU sums sxured by this Security Instrument, Lender shall promptly refund to Barrower
<br /> any Funds held by Lender.If under paragraph 19 the Property is sold or acquired by Lender,Lender shaU apply,no latar
<br /> , thaa immedistety priar to the sale of the Froperty ar its acquisition by Ltnder.any Funds held by I.ender at the time oP
<br /> � apptieation 3s a credit against the sums secured by this Security Instrument.
<br /> 3. Ap�iicatioo of Paymtab. Unless applicable law provida otherwise.all paymmts received by l.ender under
<br /> � puaarsphs 1 and 2 shall be applied:first,to late charges due under the Note;seconcl,to prepayment charges due under the �°
<br /> hlatr,third,to�:auunts payable under paragraph 2;fourth,ta inteast due;and last,to principal due.
<br /> . 4. G�a�r I.ie�. Borrowu sh�lf pay all taxes,assessments.charges,fines and impositions attributsbte to the
<br /> ' PropeRy ahir� may aitain priority,over this Sccurity Instrument, and leasehald payments or grounc� rents. if any.
<br /> Borro�ver shall pay these ottligatians in the manncr provided in paragaph 2,or iP not paid in that mannor.Borrower shail � �
<br /> pay them on time direetly to the person owed paymmt.Borrower shall promptly furnish to I.ender all notices of amounts �
<br /> to be paid under this paragraph. If Bc►rrower makes these paymtnts directly,9arrower shall promptly furnish ta Lender �
<br /> r reseipu evidrncing the paymants. , •
<br /> BorruMCr shall prompLly discharge any tien which has priority over this Security lnstrument unless Borrower.(a) -
<br /> agras in writing to the payn�ent of the obligatian secured by the lirn in a manner acceptable to l,ender;(b)contests in good
<br /> faith the lim by,or defends against enforcement of the lien in,legsl proceedings which in the Leader's opinion operate to �
<br /> prevent the enforcement of the lien or forfeiture of any part ot'the Property:or(c)secures from the hotder of the lien an —
<br /> ag�eement sati�'a�ctory to Lender subordinating the lien to this Socutity Instrurnent.If Lender determines that oay pan of
<br /> the Property«�ubject to a lien which may attain priority ovrr this Security lnstrument.Lsnder may give Ba�rrower a
<br /> notice identifying the lien.Horrower shall satisfy the lien or take one or more of the actions set forth above within 10 days '
<br /> . of the giv�ng of notice.
<br /> S. Hs�tsed Iarura�ece. Borrowes shall keep the improvements now existing oe hereaftcr erected on the Property
<br /> iasured a6ainsrc Prass by t3re,haz�rds includod within the term•'eatended coverege"and any ather huards far which Y.ender f ; .
<br /> requires in�ur�,u. This i�surana shall lx maintained in the amounts and for thn perinds that Lender require9. Thr �,�.
<br /> insunnce carrier provi�:eg�he insurance ahall be chosen by Borrower subject to Lender's approval which sh�ll not be
<br /> u�rrasonabiy Nithheld. •,�:.
<br /> _ All'isis::�ance policies and renewals shall be acceptable to Lender and shall include a standard mcrtg�ge cl4use. � "
<br /> Lender sha11 tu�•e the right to hoId the policies and rrnewals.If Lender requires,Borrower sh�11 promptly give to Lender �
<br /> all receipts o£gaa:d prtmiu.�s and renew�l notices.In►he event of toss,Horrower sh�l)give prompt notice to�he insuranre
<br /> "c�rtrier and Lender.Len�rr may malce proof ofloss if not made promptly by Borrawtr.
<br /> UnTess Lender and Borrawer otherwise agra in writing,insurance praceeds sh�p be applicd to restoration or repair
<br /> of the Property c�amaged,if the restoration or repair is economically Ptasible and Lender's security is not lessened. IP�he
<br /> ratoration a�re��air is not economicalJy feasible or Lender•s security would be lessened,the insutanee procads sh�ll be
<br /> spplied co t!r s•L-ys stc�::sd by this Security lnsttument,whethtr or rtot then due,with any eacess p�id ta[iarrowe�. If
<br /> Hatrowrer abandons tre prp,perty.or does not answer within 30 days a notiee fcom i.ender thst the insurance cartier hss
<br /> — ev�ke�d to settle a olsi.r.,e'�.�n l.ender may collect Ehe insurance proceeds.l,ender msy use the proceeds to repair or restote
<br /> the Praperty er ta pay sums secured by tfiis Security Instrument,whether or not then due.The 3U•day periad will hegin
<br /> whm the notic��s givcn.
<br /> Untes�n.endcr and Borrower otherwise agree in writing,any application of p�oreeds to principal shalt nat eatend or '
<br /> pastpone the due date of tl:e�»onthly payments referred to in paragraphs 1 and 2 or change the amount ctif Ihe payments.lf
<br /> �- tt*_*trssrr paragtapb 19 the Prespeny is asquired by Lend:r.Danower's right to any insurance pa.ic�es and proceeds rr.;ulting
<br /> � fram damage to the Property prior to the acquisision shall pass to l,ender to the extent of�he sums secured by this Sccunry ,=- --=--_-
<br /> Instrument i;n��ciiately prior to the acquisition.
<br /> 6. �rf��ation a�d M�intenance of Pmpert�,Ltaseholds. 9orrower shall nat destrc�y,damagr��r substanlially
<br /> � change the Propertp.alJow the�rnpetty to deteriatate ar commit waste. If�his Security lnstrument is on a leasehnld, �
<br /> Bcnower shall comply w;��+t!;e provisions of the lease,and if$orrower acquires fee titic t�the property,the leasct►atd ai►d
<br /> � fdt titlt�hsJl t�ot mtt�te ur�ss Lsnder agrees to the mer�er in writing. �
<br /> '�. �ratectian of I.eed�r'a Rights in the Property; Mortg�ge lnsunnce. If borr�wer fa�ls tc� F►erfi�nn thc .��
<br /> eovenanta anti;agreements containe�d in this Security tnsttument.or there is s�lega)proceeding that may sign�flcontly af1'ect
<br /> i.ender's ri�6ts in the Prapetty(such as a procee�ing in bankruptcy, probate, for condemnat�yp ur to enfotre tnwy ur
<br /> � reaulations),tfien l,ertdet r.:ay do artd Pay for whateveris nectssary to protect the velue of the Property an0 L�ender'4 nghts
<br /> in the Property. Y.ender's actions may include�aying any sums secuted by a lien which has preor�ty ovcr thi� Securuy r"
<br /> Tnstrument,eppearing in covrt.paying reas�nable attorneys'fets nnd enttnng an the Property tc�makc repa�r� A Ithaugh �
<br /> � Lender m�y take actior�under this paragraph 7.Lcndrr does not havr tu do s�.
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<br /> Any umauntsdisbursed 6y►.ef�der under this pa�A�3raph 7 slwll became udd�unnnl debt sd Eti�rrower�ecurre!t�y ttm. �
<br /> � " 5erunty Ic�slrument Unleas�urrower and i,tnder agree Tc�othrt terms nf paymer��,tttrct vmount��halt hrar�ntereit i�r��m
<br /> • the date of disbursemenr vt tttc Nnte rate and shnll br payabic, w�th �nte�etit, urnn nuuc� frum I.cudcr tr ft��rr��aer
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