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<br />101193
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Paygmat of Pritaeipal and Iatereat: Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest. on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for- Trues and Insurance. 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 />one - twelfth 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 />mortgoge insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis ofeurrent data andreawnable estimatesoffuture 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 agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing 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 any 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 each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by ;
<br />this Security instrument.
<br />if the amount of the Funds held by Lender, together wr!h the future monthly payments of Funds payable prior to .
<br />the die dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be;
<br />at Bormwer's option, either promptly repaid to &rrower or credited to Borrower on monthly payments of Funds. If the.
<br />Arno =vaf the Funds-held by Lender is not s: �•• �t to pay the escrow items when due, Borrower shall pay to Lender any
<br />amount nwtssary to make up the defmanzy.. is -. e w more.gayments as required by Lender.
<br />U. payment in full of all sums secuned 4ti,�i°t;,'ii. Sfv,rity Instrument, Lender shall promptly refund to E.,crrower
<br />any Fund: held by Lender. If under paragraph Tai the FToj% ty is sold or acquired by Lender, Lender shall aped: taFT later...
<br />than immediately prior to the sale of the Property cir a;�uisition by Lender, any Funds held by Lender at thefp0t.icf
<br />application as a credit against the sums secured by this Security instrument:
<br />3_ Applimtion of Payments. Unless applicable law provides otherwise, all payments received by Lend:
<br />parag -plis 1 and 2 shat! be applied: first, to late charges due under the Note; second, to prepayment charges due
<br />Nate; Wed; to amounts payable under paragraph 2; fourth, to'Mterest due; and last, to principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes. assessments, charges, fines and impositions attriburirale to the
<br />property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.-'
<br />BosroweT shall pay these obligations in the manr-erfnrevided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay th:-xa-an time directly to the person owed gay..�.i�^.;._ Eorwe-r. er shall promptly fumitih to Lender all notices cf :mounts
<br />to be paid under this paragraph. If Borrower make" inns:. directly. Borrower shall promptly furnish..tc Lender
<br />receipts evidencing the payments. :
<br />Borrower shall promptly discharge am tie,,.tWhw1i )�a✓. riurtr crier this Security Instrument unless Borrower: (a)
<br />agrees in writing to tlx: payment of the obligatiarr lured b:: die lien in a manner acceptable to Lender; (b) contests in good
<br />faith the li-.r 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 -4o Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />th:. Property is sub,o-ct to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />n-mice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of iltc giving of notice.
<br />S. I32zard Insurance. Bom)wer 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 carrier probrding the insurance shalt be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably with?? z;&
<br />A'1 is +sturtcs policies and naiewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender ba-be trig: Tv ght to hold the policies and renewals. If Lender requires, Borrower shall rr. -mDtiy gri.e to lender
<br />all receipts oFpaid premiums and renewal notise% in the event of loss, Mtrower shall give prompt. rxl'ti :e to the insurance
<br />carrier and lender. Lender may make proof of iw,,,tf not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to reKtorw ion or repair
<br />of the Prn;operty damaged, if the restoration or repair is e- -ortertically feasible and Lender's security ;5 :, ; 71.esxrncd. if the
<br />restoration or repair is not economically feasible or Lend+ ms's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or trot then due, with any paid to Borrower. If
<br />Borrower abandons the Property, or does not an <: tier within 30 days a nation from Lender trail rh..- insurance carrier has
<br />offered to settle a claim. then Lender may collect the insurance proceeds. 1' .ender may use the preJ, eds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument. whether or nat t1vin„ due. The 30 -day perv-.41 will begin
<br />when the notice is given. .
<br />Unless Lender, and Iorrower otherwise agree in writing, any app IiWa,.ion of proceeds to rrrr,Ca7 0, s i; : if not extend or
<br />postpone the due date of the monthly paymene�, referred to in paragraph. s4 and 2 or change the ar,:,ow,t , the payments. If
<br />under paragraph 19 the Property is acquired hatir L-under, Borrowers right to any insurance policies z;ad proceeds resulting
<br />from damage to the Property prior to the acgusaton shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisitio.a.
<br />6. Preservatim and Maintenance of Pro-perty; 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 on a leasehold,
<br />Borrower shall comply with the provisions of t he lease, and if Borrower acquires fee title to the property. the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of i.ender'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 />Lcndcr'4 rights in the i'mperty (such as a proceeding in bankruptcy. probate, for condemnation or to- enfeor" law's or
<br />regulations), then Lender may do and pay for whatever iS necessary to protect the value of the Property and Lender's rights
<br />to the Property Lenders action% may include paying any sums secured by a lien which has prtomy mer this Security
<br />Instrument. appearing to court, paying reasonable attorneys fees and entering on the 1'r,+perty to nsake repairs. Although
<br />Lender nmy take• action under this paragraph 7. Lender does not have to do so.
<br />Any arnitu nts disbursed by Lender under this paragraph 7 %lcall become additional debt of Horro vcr secured by thus
<br />Security histroment l: nlc %% Borrower and Lender agree to ether term. of payment. these amoount. shall hear twerc %i fmnr
<br />the date of dtsburscinent at the ,Tote rate and shall he pavable, svrlh interest. ups +n rn,uce from i cutter a, Brr ro.%cr
<br />reyueming payment
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