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� _ _ _ _ . . � � . � �o-- �a��o� COVENANTS. 8orrowers and Lender covenant aiid agree as �011 ows: , � � 1 . f'eym�nt o� P�incipal and interest; Prepayment end Late Chargse. Borrowers sha11 promptly pay wFeen due Lhe principal of and interest on the debt evidenced by the Note and any prepaymenL anci 1eLa ahArge� due unde� the Note. 2. Funds for Texes and Insurance. Sub�ect to applicable : law or to e written weiver by Lender, Borrowers sha11 pey to ; Lender o� the date monthly peyments are due under the Note, until � tha Note is paid 9n full , a sum ( "Funds") equel to one twelfth: ' tt�) yedrly taxes and assessments which may attain pr9or�ty over � this Security Instrument; (b) yearly leasehold payments or ground ! rvnts on the Praperty, �lf any; (c) yearly hazard insurance i pr�m�ums; and (d) yearly mortgage insurance premiums, if any. Thase items +are called "escrow items" . L.ender may estimate the ! Funds due on the basis of curcent data and reasonable est�imates � ' of future escrow items. The funds sha11 be held in an institution, the deposits of � which are insured or guaranteed by a federal or state agency. � �.endar shall apply the Funds to pay the escrow items. Lender may �' not charge for holding and applying the Funds, analyzing the account o� verifying the escrow items. Lender shall not be ° �equired to pay Borrowers any interest or earnings on the Funds. Lender shall gjve to Borrowers, without charge, an annual account �- of the Funds shawing credits and debits to the Funds and the � ? � purpose for which each debit to the funds was made. The Funds � . ' are pledged as additional security for the sums secured by this � y„� : Security Instrum�nt. �:.,,_ __ ,-- � If the amount of the Funds held by Lender, together with the x - � future yearly payments of Funds payable prior to the due dates of � ' the escrc►w items, shall � exceed the amount required to pay the � escrow items when due, the excess shall be, at Borrowers' option. � + either promptly repaid to Borrowers or credited to Borrowers on , � yearly payments of Funds. If the amount of the Funds held by - , Lender is not sufficient to pay the escrow items when due, Borrowers shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. � � I � Upon payment in full of a11 sums secured by this Security ` Instrument, Lender shal7 promptly refund to Borrowers any Funds � held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, lender shall apply, no later than immediately ,``- prior to the sale of the Praperty or its acquisition by Lender! ' :�, • any Funds held by Lender at the time of application as a credi't ' against the sums secured by this Security Instrument. • 3. Appltcation of Payments. All payments received by � Lender under paragraphs 1 and 2 sha11 t�e applied: first, to late � cha�ges due under the Note; second, to prepayment charges due ' under the Nots; third, to amounts payab3e �nder paragraph 2; • fourth, tv interest due; and, last, to principal due. 4. Charges; Liens. Borrowers shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which may attain priority ove� this Se�urity Instrumen�, and leasehold payments or ground rents, if any. Borrowers shall pay these obligations in the manner provided in paragraph 2, or --- - :----- if not paid in that manner, Borrowers shall pay them on time ' directly to the person owed paymQnt. Barrowers shall promptly furnish to Lender all natices of amounts to i�e paid under this paragraph. If Borrowers ma�e these payments directly, 8orrower� shall promptly furnish to Lender rece�pts evidencing the Lpayments. ~ Borrowers shall promptiy discharge any 1ien which has w priority over this Security Instrurnent unless Borrowers: ( a) � u�r'ea i n wr i ti ng ta the pay�ter�t of the ob� i gaL�t c.�rti 5�;cureci oy cne ,�� lien in a manner acCept�ble to Lender; ( b) contest in �ood faith � '' I �