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<br />tlNIfOH\1 COVF.S"S r~ D(lrrOI.\iCr an,ll.ender !:u~enant and agree it" fllll,W,~;
<br />I. Payment of Prlndpaland Interest; Prepayment and Late CharRcs. Borrower shall prlll1lptl)' pay when d~le
<br />the principal uf llnd interest 011 the debt c\'idenced by the Note llnd any prepa)'ment and late chargc~ due under thl.' Note.
<br />Z, Funds for Taxes and Insurance. Subject to appli~ablc law or to a written waner hy Lender. Dl'frllwcr ~hall p~')'
<br />to Lender on the dilY monthl)' payments are due under the Note, until the Note is pllid in full, ,,!'.um ("Funds") equal to
<br />one.twelfth of: (a) yearly taXeli and assessments which may attain rm'rit)-. owr this Secllfit). Itl'itrument. (ll) y,'arly
<br />leasehold payments or gwund rents (In the Property. if any; (c) yearly hazard insurunce premiums: und (d) )'C'.lrly
<br />mortgage insurance premiums, if an)'. These items are called "escrow items," lender mil)' estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts ofwhidl are insured or guaranteed hy a federal or
<br />state agency (including Lender if Lender is such an institution), Lender shall appl}' the Funds to pay the ~'Scrow items,
<br />Lender may not charge for holding and appl)'ing the Funds, anal)'zing the account or verifying the escrow items. unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower 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 Borrower an}' interest 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 />purpose for which eaeh debit to the Funds was made. The Funds are pledged as additional security fo.r the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funus hdd by Lender, toget he( with the future monthl}' payments of Funds payable prior to
<br />the due dates of the es~row item~ ~~all exceed the amount rceqllired to pa}' the escrow items when due. the excess shall be.
<br />at Borrower's option. eiQftl.er prorn&,d~ repaid to Borrower (II( ~t'edited to Borrvwer on monthly pa}'ments of Funds. If the
<br />amount of the Futt.ds ~e:d by Lena~ is not sufficient to p..'\~' tihe escrow items when due, Bc.,rrower shall pal' to Lender any
<br />amount nec~,"i~ t(!imake up the deficiency in one or m(1l.~ pa~ments as required by Lender,
<br />Upcn raymcn~ ip, full of all "urns secured by this SeI.'~rity Instrument. Lender shan pt\i'mptly refund to Rorrower
<br />an}' Funds held by Lender. If under paragraph l~ t~e Property is sold or acquired by Lender. Lendc: shall apply. no later
<br />f.ll<an immediately priQr to the sale of the Proper~y ". its acquisition by Lender, any Fund~ hetd by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unles.<i applicable la.t.. provides othel'\\'ise. all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note: second, to 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. Charges; Uens, Borrower shall pay. all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority. over this Security Instrument. and leasehold pa~ments or ground rents. if any.
<br />Borrower shall pay these obligations in the manner providet! ltt paragraph 2, or if not P&tU in that manner, &1Uower shall
<br />pay them on time directly to the person owed payment. &rrq~er shall promptly fumi5.h hl Lender aU noticc.$.Qf amounts
<br />to be paid under this paragraph, If Borrower mak~ these payments diref.;t!y. Borrower shall promptt31 furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrumen,t tin~~ Barrower: (a)
<br />agrees in writing to the payment of the obligation secured by t he lien in a manner acceptable to Lender: (b) ~'Qnt~,ts in good
<br />faith the lien by. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinilin operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property: or (c) secures from tbeholder 9f the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give :Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within to days
<br />of the giving of notice. ,
<br />S. Hazard Insurance. Borrower shall keep the iinJ;i'rovements nmv existing or hereafter erected on the Property
<br />insured against loss by fire. hazards included witttifi t~1.e.t.eJTm "extended coverage" and any other huzards for which Lender
<br />requires insurance. This insurance shall be rna~tit<1~.ed in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld. .
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policics' and renewals. If Lender requires. Borrower shall: promptly give to Lender,
<br />all receipts of paid premiums and renewal notice$. In the event of loss. Bonrower shall give prompt, notice to the insurance
<br />carrier andL.ender. Lender may make proof ofloss if not miu[epromptly by Borrc,\:'er_ . .. .
<br />Unle<..ss. Lender and Borrower otherwise agree in writing. insurance p(oceeds s~lall be applied to restoratlon <lJlr rep.acr
<br />of the Property damaged. if the restoration or repair is economically feas~o~e'and I...:nder's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security wauld be lessened, the insurance proceeds shall be
<br />applied to tbe sums secured by this Security Instrument. whether or not then due. WIth an)' excess paid to Borrower. If
<br />Borrowe;r 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 collect the insurance-proceeds, Lender ma~- ~ the proceeds to repair Q.nestore
<br />the Property or to pa)' sums secured by this Security Instrument. whether or not t~en due. The 3D-day period will begin
<br />. when the notice is given.
<br />Untess Lender and Borrower otherwise agr:ee in writing, an", applic~ticn't}f proceeds to principal shall not extend or
<br />postponet.he due date ofthemonth[j; payments referred toin raragraphs J and Zar-change the amount oftbe payments, If
<br />under paragraph 19 the Propert)" is acquired by Lender. Bor;l'lV'wer's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall rass to lender to the extent of the sums secured by this Security
<br />Instrumellt immediate'y prior to the 2'Ujuisitio!t.
<br />6. Presenration and MainteR~nce of Pro~:rt); Leas,r.holds. Borrower shall not destroy. damage or substantially
<br />change the Property, allpw the Property to detenorate cr ~ommit waste. If this Security Instrument is on a leasehold.
<br />Borrower shall comply with the pro\lsions of the lease. and tf Borrower acquires fce title to the Property. the leasehold and
<br />fee title shall not merge unle~!> Lender agrees to the merger in writing,
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance. If BOTrnwcr fails to pcrform the
<br />covenants and agreements contained in Ihis Sccurit). Instrument, or there;.~a legal proceeding that may significantly affect
<br />Len~er): ::rights in the Property (such as a proceeding in bankruptcy, proba:.e, for condemnation or to enfl'>rce law!'. (lr
<br />reg.w.fatl/:;.ns). then lender may do and pay for whate\ cns necessary to protccllhc\aluc of the Property and Lender'loflghls
<br />in tbe Propert).. Lender's acllons may mclude pa)'lIlg allY ..urn.. se"ured hy a hen whil:h ha'i pnority ovcr thIS Sccunty
<br />Instrument. aprearlng JfI "ourt. paYing rea~onablc attorneys' fee.. and entering on the I'wpert~ to make reralr.. AJrh(,ugh
<br />Lender may take actron under thi!> paragraph 7, I.endcr dncs nol h3\e to dO....l ,
<br />Any aJTlounh d"bursed hy Lendl'r under! hiS paragraph 7 ..hall heL"l'lI1c addlllollilllkht pf BllrTI \\H'r "cl:Ufed hy Ihl..
<br />SecufJl) In..trllOlcnl Unh:.... Borro\H'r ,md I cndl'r agree to (If her lerm.. of ray IlIl'l1 I. t he"l' ,llI1l1l1l,h ,hall I'o1';lr 1I11crl'''1 fr',"1
<br />Ih(' datc (If dl..hur"CIlII'llt al the ~I'h: I,lle ;lIId ..h:lI! he p;I~.;Jhll', Willi lIl!erl"!. UI','1I l!1I!:.'t' lre'lI1 Il'lodn ,.. n"f1,'\\'cr
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