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<br /> Ut�IF�R�Cove���TS. t3orr�wer ancf Lcndcr covennnt and agrer as Po11oK�.: �0�421�2
<br /> - 1. Paytrtrtt s!Prfneiptl ane Ietcrcal,!'rcgaymeet sst!I.ate Chsrgrs. Dnrcn�ver sh911 pmmptly p3}�vhrsz dae
<br /> thc principal aPantl interest ar�the debt evidenced by thr Note and any prrp�yment and latr charges due under thc Note.
<br /> ?. Funds tasTaza sm!Insurance. 5ubjrce to�pplicable law c�r ta a writtan uai+�eP b�i�cnd�r,�o�toN�er shuli pay
<br /> � to l,ender on the dsy m�nthl}payments are due under Ihe 1Vote,until the Nate is paid in Pull,a cum("Fu�ds")equal tu
<br /> onrtwelnh aP: (a) yearty taxes and assessments which may attain priorit�� �vcr this Seruri�y 9nslrument; (b) yearl�•
<br /> leaxbold p�yments c�r �round rents on the Ptvperty. iP any; (c2 )•early hazgrd insurunce prcmiums; ond (d) �early
<br /> mortp�e insurance premiums,if any.'Y'hrse items arc callcd"e�crow items."Lender muy estimrtr the Funds da�an the
<br /> batsis oPcuR�nt datA�nd reascm�ble estimates af futurc escrow item�.
<br /> The Funds shall be held in an instituti�n the deposits ar aceovnts af which are insured ar guaranteed by A Pederal or
<br /> st�te��ency(inctuciin� I.ende�if Lender is such an institution). Lender sha11 apply the�unds to pay the escrow items.
<br /> Lender may not charge for holding and spplying the Funds,analyzing the account or veriP}•ing the escraw items,unle,ss
<br /> Lender pays Borrower i�terest on the Funds and applicuble law permits l.ender to make such a charge. 8orrower and
<br /> I.ender may A�rce in writing that intertst shall be paid on the �unds. U�less pn agrecment is made or appticable law
<br /> requires interest to be paid, l.ender shall not bc required to psy Borrawcr any interest or exmings on the fiunds. Lender
<br /> shall give to Horrower�without charge.an annusf accounting of the Funds showing crodits and debits to the Funds and the
<br /> purpose for which each debit to the Funds was m�iJe.The Funds Are pledged as additianal security for thc sums sccurcd by
<br /> this Security lnstrutnent.
<br /> IP the amount oP the Funds held by Lender. together with the future monthly payments of Funds payabte prior to
<br /> the due dates oPtht escruw iterns,shall exceed the amou�t required to pay the escrow items when due,the eacess shall be,
<br /> at Borrower's option,either promptly rcpaid to Bonower ar credittd 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 v►hen due,Borrower shall pay to Lender any •
<br /> amount necessary to make u�s the deflciency in one ar more payments as required by Lender.
<br /> ' Upon payment in CuC���$all sums secured by this Security In�trument.L.ender shall promptly rePund to Borrower
<br /> any Funds held bv Lende�. tf c�nder E+sr�r�ph 19 the Property is sold or acquired by Leader.Lender shall apply.no later
<br /> thsn immediatety prior to tre s.41e of che!'roperty or its Acquisiti�;.n by Lender,any Funds held by Lendor at the tir�r of
<br /> application as a credit again�cthe sums srcured by�his Security Instrument.
<br /> 3. Applkatio�of Payaienb, Unless applicable law p►ovides atherwise,all payments received by Lender under
<br /> • paragraiphs 1 snd 2 shaU be applieit:firxt..to late charges due under the Note;second.to prepayment chargec due undcr the
<br /> . Note;third,ta amounts payable under p�agraph 2;faurth,ta interest due;and last.to principal due.
<br /> 4. Cl�arge�; Lie�». Borrov►c�shall pay all texes,assessments,charges.fines and impasitions attrih�table ta the
<br /> Property which may attairn priarity o•er this Security lnstrument, and leasehold payments ar groctrrd rrats, iF any. .
<br /> Bonawer shall pay th�e abt�ations in the manner pravided in paragraph 2.e.�s iF not paid in that manner.Borrower shall
<br /> p�y them on time dircctiy to thc perso�r owed payment. Borrawu shall promptl�•furnish to i.e�der all natice.g oPam���is
<br /> to be paid undrr this paragraph.lf Ei�ine�wer makec thcse payments directly. Bonower shall promptly fumish to Len�er
<br /> rcceipts evidencir�g the payments, ,
<br /> .�c,i;u'w.cr 5i�uli prumpiiy vi�;i�nrgr uny iico wi�i�i�i�as p�i.�tii3 oz�cr ihis�;;�u�+ty itti;tcusn:�t u„iras 3c�iiuwe�:(a} _ _
<br /> agras in wdting to the p�yment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good , _
<br /> faith the lien by,or defends against enforcement af the lien in. fega!procecdings which in the Lender's opinion operate to =
<br /> -- - - :c:.:��i ti��vt�riucsi a,i i ic lic�r or ivil titYfC di 7��1 r�vi ii�r r� � - ur � �LtCS ltlliil ttlC tiOtllti Oi ttiC I�CII 1ii
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<br /> sgreemrnt satisf�ctory to l.ender;ubord�nating thr lien to this 5ecurity Instrument. If Lender determines that any part of
<br /> the Property is subjoct to a lien ivfiich may sttain pnority over this Security I�strument, [.ender may give Borrower a
<br /> notia identifying the lien.Barrowrr shall satisfy thc liep or take one ot more of Ihe actions set forth abc>ve within 10 days � —
<br /> a!'the givina of notirr.
<br /> S. H�aud Ins�nnce. Horrower shall keep the improvements now eaisting or hereafter erecte�on the Property
<br /> insured against toss Iry fire,hAZards included within the term"extended coverage"and an}�other hazards far which L.cader
<br /> rcquires insurance. 'I'his insuranct shall Ix maintained in the amounts Tnd for the penc�s th3t Leader requires. The
<br /> insursna carrier providing the insurnnce shall be chosen by Bnrrawer subject to Lender's approva!wtaieh shall not be
<br /> unreasonabiy withheld. .
<br /> AU insunnce 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 r�newats. if Lende►require:�, Borrow•er shull promptly give to Lender
<br /> all receipts of paid premiums and renewal notices.1�the event of loss.I3orrower shall�ti�e Rrompt notice to the insurance ,�'
<br /> carrierand Lender.Lendermay makeproofaf'foss�f not made pmmptly by H�rrow�cr. ' �*
<br /> Unless Lender and 8ce�rower oi herwise agree�n w nting.�nsurance proceeds shall be applied to restoratian or repair
<br /> of the Property damagtd.if tfie restoration or repair is economically feasible and Lender's secunty i�not lessened. If the
<br /> restotation or cKpair is nat economira[l�feasible or l.ender's security would be lessened, tI� insuranee proceeds shall be
<br /> applied to the sums secured by this Serrc�riry Instrument.wheth¢r or not then due,w�th anz excess paid to Ei�irrow�er. If
<br /> Borrower abartdons the Property,o=.docs not answcr within 3U days a notice from Lender that the insurance carrier has
<br /> offered to stttle a claim,then Lender may callect the insnranee proceeds. Lender may use the proceeds t�repair or restore
<br /> the Property ur to pay sums secured by this Security� lnstrument,whethcr or not then due. The 30-day penod will begin
<br /> when the nnticc is given.
<br /> � Unless�,.ender ar.d Ei�irrowet otherwise agree�n writing,any application of pn?ceeds c�principal shall not extend or
<br /> � postpone the due date of the manthly paymtats referred to in paragraQhs 1 and 2 or change the amuunt of the payment�.[f
<br /> . u�0er pa�agcaph�9�he Prn�rey is se�uered by l,es:dcr. Borr�s�;cr's tsgbt to any tirtsurance polic�c�and�,fcxerds resuiting
<br /> from dxmage to the Propetty pnor to the acquisition shall pass to L.ender to�he extent oPthe sums tiecur�.xi bv this Security
<br /> Instrument immediately prior to the acyuisition.
<br />' 6. Preser�ation aed Maintcn�nce ot Property;I.taseholds. Horrower�haU not destroy,damage or 5ubstannally
<br /> change the Pr�peny. alloW the Property to detetiorate or comm�t wa`3e. If th�s Security lnstrument �ti on a leaseholcl, ___—_ __
<br /> &�rr�wes shall c�mYi;�•ish!b�pro�ssio^s ef ihe les,��.sr.��f Borro�ps ac�u��es fpe t:tle t�t�:�P-opert�•.:hF lea:,:�a;d�nc3 • - -� �
<br />: fee title shall not merge uniess Lender agrees to the mrrger in w r�ung.
<br /> 7. Protection of Lender's Ri�6ts in the Praperty: �tortEWRe Insurance. If B�rmuer fails to perform the
<br /> covenants and agreerr�ents rnntained in th�s Securnp Instrument.�r there n a lcgal rroscedmg that may c�gmficanNy a�ect
<br /> Lencier's rights in the Propert}• (such as a proceeding in bankcuptry, prohate, fe•r cundemnat�on �r t�enforce law< <�r
<br /> regulations),then Lender may d�and p�y for w hatrti er is neces5ary to pmtect the�alue of the Propert}anci l,ender's nghts
<br /> in the Property. Lender's ac�u�m may� include pay�ng any�wms serureei by a l�en wh�ch has pnonty �ner th�s Serunty
<br /> L Instrument,appearmR in court, pa}�ng rraumable attorncys'fec�and entering c�n the F'ropett> tc�makc reran� Alths,ugh
<br /> i.ender may takc actton under this paragraph 7. Lender dues nnt ha�e to Jc�Su ,,�
<br /> Any amounts disbveyed by L.ender under thic paragraph 'chail he��rne add�tumal deM��f Nrrmurr�ecured b} thi� h.
<br /> Sccurity Instrument Un1e5s gorn�wcr ar�d l.ender aRree t��other temm�f�a�mcnt. thc�c�im��unts�h:ill hesr intere�t fri�m ��
<br /> thc date of disbursemcnt at the 1�olc ratc and �hall he p.�yahlc, a�th �rttcre�t. up��n n�•t�r�� fr�mt 1 encl�t t�� Hnrn�ucr
<br /> requesting paymeni.
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