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<br />89- ==1014 G 0
<br />UNIFORM CovENAt9 S. Borrower and Lender covenant and agree as follows:
<br />1. Payout of F"Wp d aad Interest; 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 Taxes and Insursaea, Subject to applicable law or to a written waiver by Lender. Borrower shalt pay
<br />to bender 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 />mortgage insurance premiums, if any. These items are called "escrow item." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Fund's 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 />Leader 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 shalbbe paid an the Funds. Unless an agreement is made or applicable taw
<br />requires interest to be paid, Lender shall not be required td pay' iorrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge; an annual accounting, ofttie 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 with the future monthly payments of Funds payable prior e,
<br />the due dates of the escrow items. shall exceed the amount rewired to pay the escrow items when due. the exc ess shall be.
<br />.rt Borrower's option, either promptFg.rejpaid to Borrower or, credited to Borrower on monthly payments of Fundy, If the
<br />of the Funds held by Lender is pat sufficient to pay the escrow items when due, Borrower shall pay to Lilt any
<br />mount necessary to make up oedeficiency in cneci more payments as required by Lender.
<br />Upon payment in foil of ati sums secures.' by, ti its Security Instrument, Lender shall promptly :s °.lurid to Borrower
<br />any Funds held by Lender. Wonder paragraph 1'1• tdie•Property is sold or acquired by Lender, Lender:ar?hr� ppplv,r do later
<br />than immediately prior to the sale of the Prey i pr its acquisition by Lender, any Funds held by" �� %.� t�i� time of
<br />application as a credit against the suMS-4'cuied lip dais Security Instrument.
<br />3. Application of iraymemts:. Unless applicable law provides otherwise, all payments recei� ,u_ , - i:r under
<br />paragraphs 1 and 2 shall 1� p�±iiei_''�ist, to late charges due under the Note "�+:.-ctnd, to prepayment c... .: . rider the
<br />Note; third, to amounts 7zyabIeundar, paragraph 2; fourth, to interest due; mod" 4: to principal due:_ � .
<br />4. Chargeg LieasL 8arro qcr shall pay all taxes, assessments, chat fne5.3uttirnpo ti��es _diiliu4iJYie to the
<br />Property which may attain" priority over this Security Instrument, and lwsA,c'ld payments or g,.Au d rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph �; %s if not paid in that rrauner, Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall furnish to Lendec all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments dironiy; Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the. psscment of the obligation secured by the lien in a mrz,ner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defanj:s against enforcement of the lien in, legal proc=iings which in the Lender's opinion operate to
<br />prevent the enforcemen © 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 purity Instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may attain priority e, (.t this Security Instrutr+.. t, Lender may give Borrower a
<br />notice identifying the lien f3 rrower shall satisfy the lien or take one or more of the actions set forth above within 10 day;
<br />of the giving of notice.
<br />S. Hazard Insut•amce. ", ower shall keep the improvements ii.('%v ,ex.Air.,gor hereafter r„ =ted on the Property
<br />insured against loss by fire, hazar' s iiccluded within the term "extended e c ".':: s; ' t'.+ -y other hazards for which Lender
<br />requires insurance. This i sci - v: small be maintained in the amounts and fez V.w perizds that Lender requires. The
<br />insurance carrier providinjl tt,. insurance shall be chosen by Borrower si>i:�.ect to L .,'`.r's approval which shall not be
<br />unreasonably withheld.
<br />All insurance PCA!,ti;s aad rziewals shall be acceptable to Lender in+! sha'[ .asiad4 a ztz.r lard mortgage clause.
<br />Lender shaft have the right to W' the policies and renewals. If Lender requires, Barn_�a :r shall promptly give to Lender
<br />all re^.i irp of paid premiums and r rr wal notices. In the event of loss, Borrower s;4-1.r ij•�e prompt notice to the insurance
<br />wrier and Lender. Lender may majCe proof of loss if not made promptly by Borrower.
<br />Unless lender atyd Borrower otherwise agree in writing, insurance ziroceeds shall be applied to restoration or repair
<br />'of the Property damavd, if the restoration or repair is economically feasible and Lenders 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. witWany excess paid to Borrower. If
<br />'Borrower abandons the D- operty, or does not answer within 30 days a notice from Dm der that the insurance carrier has
<br />offered to settle a claim.: then Lender may collect t he insurance proceeds. Lender malt use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whetiux or rat tlivs: due. The 30•day period will begin
<br />when the notice is given.
<br />Unt&s Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone 04 due date of the monthly payments 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, Borrowers right to any insurance policies and proceed% 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. Preservation and Maintenance of Property; Leateltotds. 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 the 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 to writing.
<br />7. Protection of Lenders 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 protect the value of the Property and Lender's right%
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority o%er 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 h► this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amount. shall hear interest from
<br />the date of dtsbunetrtent at the :`ote rate and ~hall be payable. with interest, upon nvtue from I ender to Borrower
<br />requesting payment
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