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UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: .... 0
<br />1. Paysent of Prtaelpal sad Interest; Prepsyn"t am Late CM � ly 0 fi
<br />the principal of and interest on the debt evidenced by the Note and any prepayment Borrower
<br />late charges due n pry w e vdue
<br />P P Y g e under the Note.
<br />L lrumb for Ta :ea and Iawraaee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />onetwelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance Premium% if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />bash of current data and raumble estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state aiency (includbg Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not chaW for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Do m%v interest on the Funds and applicable law permits Lender to snake such a charge. Borrower and
<br />Lender. may agt+ee im.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 any interest or earnings on the Funds. Lender
<br />"giive to Borrower, without charge, an annual accountettg of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made, The Fiords are pledged as additional security for the sums secured by
<br />this Security Instrurtutuct.
<br />If the amount: of the Funds held by Lender, tcgither with the future monthly paymeints'of Funds payable prior to
<br />the due data of the escrow items, shall exceed tine amotmi required to pay the escrow items when due, the excess shall be,
<br />at Borrower's op6em tither Promptly repaid. to Darrowty or credited to Borrower on rnontltiy payments of Funds. If the
<br />amount o nt of the Funds held by Lender is not sufficient t Pagr the escrow items when due; Bcarro�er shall pay to Lender any
<br />am
<br />necessmy to make up the deficiency in one or more payments as required by l .e¢cder.
<br />Upm lbsv=t.in Brit leaf all sums secured by this Security Instrument, Leti� sh ll promptly r.14 &d to Borower
<br />any Funds held by Lei der.. If dnder paragraph 19 the Property is sold or acquired by Lender, IlAnder shat& Vply, no later
<br />than imn1edi2te1Y.p*c to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Applicadea of Psaytaeats. Unless applicable law provides otherwise, alt payments received by Lender under
<br />paragraphs I and 2 shad be applied: first, to late charges due under the Note; second, to prepayment charges dice under the
<br />Note; third, to amoua s payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. GtirIM Lk ft Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which rosy attain priority over this Security Instrument, and leasehold
<br />Borrows shall Pay these oWiltions in the manner provided in h or if act payments d in that or ground . rents, r any.
<br />pay deem m time directly to fife P P�t1nP � paid in that manner;l�rrrower shall
<br />y person owed payment. Borrower shall promptly flxnush to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly fumish in I enA#-r
<br />h*� �EiiRpaynnenu.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />Ogres in writing to the payment 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 of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of 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 10 days
<br />of the giving of notice.
<br />S. Maestri Iaswisace. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance caries 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 />Landwshall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />' all reciOPU of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance
<br />cstrie ' MW Lender. Lender may make proof of loss if not made promptly by Borrower-
<br />- • Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restqi6fon 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 shall 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 />elf mmito settle a claim, then Leader may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the PYaphsty or to pay sunrs-secured.6y thk Security Instrument, whether or not then dire. ,The 30.day period will begin
<br />when the notice is given.
<br />Unless Lendec.and Henries as'Whenvise agree in writing, any application of proceeds to-piincipal shall not extend or
<br />postpone the due date of the mo¢t* iayments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6, PmMatt" sad Melate+tace of Properly; Leaseholds. Borrower shall not destroy, damage or substantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument- is n A 1a hold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Props tY." 4idcbld and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />T• ProteeMm of Leader's Rights In the Property; Mortgage Insurance. If Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protest the value of the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />Instrument, appearing in court. paying reasonable attorneys' fees and entering on the Property to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Horrowei and Lender agree to other terms of payment. these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower
<br />requesting payment.
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