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<br /> UNIFC�RM COVENAN iS Qorraw er and Lender co�•enant und pgree t►s Follrn�•s: ��� 10 2 5�'�
<br /> � 1, P�ymcnt of Prlaripa!pnc!Intcrest;Prepayment and l,ato Gh�rges. Burruw•cr tihalt prom�Ny pa} uhen due
<br /> the principal of and interest on the debt e�•idenccd by thr Note and an�•prepnyment�iid late rharges due i�nder�he Notc.
<br /> 2. Funds tor Tax�s and insurAnce. Subject tu�pplict�ble luw ur tu u writtcn wai�er h��Lender, florrower shnll pvy
<br /> � to Lcnder an the dny monthly payments ure due undcr the Notc,until�he Note is paid in full,a su►n("Fund.c")equal to
<br /> onatwelfth of: (a) yearly taaes and assessmcnts which ma� nttuin priorit� aver this Security lnstrument: (b) }early
<br /> leaschold p�jlments or grv�nd rents an th4 Pia}xrtg. if nny; (c) y�zatiy h:taard insuranre premiums; And id) yec�riy�
<br /> mortga�te insuranct premiusns,if any.Ttt�e items are�alEeci"escmw itrms."Lender ma}•estimutc tlie fiunds duK pn the
<br /> basis of current►iata and reasonable estimates of iuturr escrow items.
<br /> 7he F unds shall be held in an institutian the deposits ar a�caunts c�f which are insured ar guarnntced by a federal ar
<br /> state agency(inciuding Lender iP Lender is such an inslitution). l.ender shall apply the Funds to pay the escrow items.
<br /> Lendcr may not chargc for holding and appiying the Funds.analyzi�s the account or vcrifying thc escraw items,uoless
<br /> , I.�nder pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br /> Lender may agrce in writing that interest shall be paid on Ihe Funds. U�less an agretment is mude or applicable ls�w
<br /> requires interest to be paid. Lender shall not be required to pay Bc�rrower any interest ar earnings on the Funds. l.ender
<br /> siiall give to Bonower.without charge,an annual accaunting of the Funds showin�credits and debits to the Funds and the
<br /> , purpc�se for which each debit tu the Funds was made.The Funds are pledged as additional security Por the sums secured by
<br /> this Security Instrument.
<br /> Iithc amount oPthe Funds held by Lender,!agether with the future monthly payments of Fnnds payable prior ta
<br /> the due dates uf the Gccrow items.shall exceed the amount required to pay the escrow items when due.the excess shall be,
<br /> at Borrower's option,either promptly repaid to Borrower ar credited to Honower�n monthly payments of Funds. If the
<br /> amount of the Funds held by Lender is not sufticient to pay the escrow items when due.Borrower shall pay to Lender any
<br /> amount necessary to make up the deflciency in one or more payments as required by Lender.
<br /> Upon payment in full of a11 sums socured by this Security Instrument, Lender shall promptly refund to Bonower
<br /> any Funds held by Lender. If under paragraph 19 thc Property is sold or acquired by Lender,Lender shall apply,no later
<br /> than iinmediately prior to the sale oP the Property or its acquisition by Lender,any Funds held by Lender at the time of
<br /> application as a credit against the sums sr.cured by this Seeurity Instrument.
<br /> 3. AppUcallon ot Payments. Unless applicable law p.*ovides otherwise. all payments received by Lender under
<br /> paragraphs 1 and 2 shall be applied:flrst.to late charges due under the Note;second,ta prepayment charges due under the
<br /> Note;third,to amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4. C6argq;Liens. Borrower shall pay all taxes,assessments.charges,fines and impasitions attributable to 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,Bonower shall •
<br /> • pay them on time dirxtly to the person owed payment.Borrawer shall promptly furnish to Lender all notices of amounts
<br /> to be psid under this paragraph. lf Borrowec makes these payments direcily, Borrower shall promptly fumish to Lender
<br /> `� receipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security]nstrument unless Borrower:(a) �
<br /> . �a�rKs in w*�t�ng to the�r±►ymen�of the obllgation srcnret�by the lien in s sn�nn�r a��eY*able to Lender;{N?sontrsts in goa� -- -
<br /> faith the lien by,or defends against enforcement of the lien in,legal proceedings which in the Lender's oDinion operate tn
<br /> - preveni tne eniaroemcnt of tne iien ar Torteiture of any part of the Property;or(c)secures from the holder of the licn sn �
<br /> � � agrament satisfactory to I.ender subardinating the lien to this Security Instrument.If Lender determines that any part of
<br /> � the Praperty is subject to a lien which may attain priocity over this Security ]nstrument, Lender mav gice Borrower a , '
<br /> • notice identifyin�the lien.Borro�er shall satisfj the lien or take one or more of the actions set forth abo�e v►-ithin 10 days
<br /> � ofti�egivingofnotice.
<br /> S. Haurd Insurance. Barrower chall keep the improvements n�w existing or hereafcer erected on the Proper[y- ��
<br /> insured against loss by fire,hazards included within the term"extended coverage"and any other hazards for which Lender
<br /> , requires insurance. "fhis insurance shall be maintained in the amounts and for the periads that Lender requires. The '
<br /> � insuraace carrier providing the insurance shall be chosen by Boirower subject to Lender's approval which shall not be � .
<br /> ' unreasonably withheld. s �:
<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 poliries and renewals. if Lender requires,Borrower shall promptly give to Lettder
<br /> all reeeipts of paid premiums artd renewal notices. In the event of loss,Borrower shall g,�re prompt notice to the insurance �"
<br /> , carri�r and I.ender.Lender mag make proof of loss if not rnade promptly by Borrow•er. � .�# .
<br /> . Unless L,ender and Horrower otherwise agree�c�u-riting,insurance proceeds shall be applied to restoration or repair �
<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 shal3 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 days a notice from Lender that the insurance carrier has
<br /> offered to settle a claim,then Lender may coltect the insurance proceeds. Ixnder 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 perivd will begin
<br /> when the notice is given.
<br /> � Unless Lender and Aorrower otherwise agree in writing.any appiication of prnceeds ta principal shall not extend or
<br /> postpone the due date of the raeonthly payments referred to in paragraphs 1 and?or changr the amount of thz payments.If
<br /> mtder paragraph l9 the t'roperty is acquired by Lender,Borrower's right to any insurance policies and psoceeds resulting
<br /> f.asn damage tc the Prop;.rsy�rior ta 23sc ac�uisitir,a shall�ass to l.czd,:ta,tse ext�ns o!'the s::r:s secure���this Securisy
<br /> Instrument immediately prior to the acquisation.
<br /> 6. Preservation�nd Maintenance of P�operty;I,easeholds. Horrower�hall not destcoy,damage or substantially
<br /> change the Propeny, allow tEee Property to deteriorate or commit wacte. If this Security Instrument is on a leasehold. __ _____
<br /> Borraw�er shall oomply with the provisions oPthe lease,and if Borrow�er acyuires fee title to the Property,the leasehold and � �
<br /> fee titte shall not merge untess Lender agreec to th�merger�n w�itinQ_ �
<br /> 7. Protection ot L.ender's Rights in the Property; '.Nortgage Insurance. If Bosrower fails to petform the
<br /> covenants and agreements eontained in this Security instrument,or there is a legal proceeding that may significantly aff'ect
<br /> Lemder's rights in the Properey (such as a proceeding in bankruptcy, probate. for condemnation or to enforce laws or
<br /> regt�[ations),then Lender may doand pay for whatever is necessary to protect the��alue of the Property and Lender's rightti �
<br /> in the Property_ Lender's actions may incls�de paying any sums secured by a lien which has priority o�er this �ecurity �
<br /> L Instrument,appearing in court,paying reasonable attomey�s'fees and cntering on the Pr�perty �o make repair� A Ith<�ugh ��C
<br /> Lender may take actinn under this paragraph 7,Lender does n�t ha��e to do so �
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become addittnr►�I debt<�f Bc�rmwer�erurrd by rhi� t�
<br /> Serurity Instrument. Unless B�rrower and Lender agree tc+other termc nf p:�yment, thetie amc�unt�.hall hear intetcr�t fn�m �
<br /> the date of disbursement at the Note r�te and chall be }�a}ahle. unh in�rrr.t, u��m �ii�nce f'r��m I.endcr t�� R��rr����rr �
<br /> rr_questing payment.
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