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89-=- 101472 UNIFbRMCOVENANT5. Borrower and Lender covenantand:agmeasftillaws: !. Payment of Printip>tl and interest; Prepayment and_ Late Charges. Bnrrower shall promptly pay when due the principal ofand interest on the debt evidenced by the Noteand--any prepayment and.late charges due under the Note. Z. Funds for Taxes and Insurance. Subject to applicabWlasv orto a writtt n-waicerby Lender. Borrower shall pay r to Lender on the day monthly payments are due under the Note, until thy. Mate is paid in full, a sum ("Funds") equal to one - twelfth of (a) yearly taxers and assessments which may attain priority over this Security Instrument: (b) yearly leasehold pavtaents or ground rests on the Property, if any: (c) yearly hazard insurance premiums: and (d) yearly mortgageinsutance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the basis ofcurrent data and reasonable estimates of future escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (including" Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing that, interest shall be paid on the Funds. Unles% an agreement is made or applicable taw requires interest to be paid. Lender shall not he required to pay Borrower any interest or earnings or. the Funds. Lender shall give to Borrower, without charge. an annual accounting of the Funds showing credits and debits to the Fund, and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the suns secured by this Security Instrument. If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due. the excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payirtents of Funds. If the amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Upon payment in full of all sums secured by this SezW:.-i ,y Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 19 the Props:: Lv. _. is sold or acquired by Lender. Lender shall apply, no later than immediately prior to the sale of the Property or its ao�4t:isition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. :tAWeation of Payments. Vnless applicable law provides otherwise, all payments received by Lender under paragraphs I Lid 2 shall be applied: first, to late charges due u-,&-r the Note; second to prepayment charges due under the '-_+:r.;te; third, to amounts payable under paragraph t2 interest due; and last, to principal due. 4 Charges; Liens. Borrower shall, charges, fines and impositions attributable to the >c rent' 1O..rich may attain priority over this zr_ :r;}" f gin.- ument, and leasehold payments or ground rents., if any. Borrower�i��tli pay these obligations in the manner provided fir-: paragraph 2, or if not paid in that manner, Borrower shall pay Cae: mime directly to the person owed pay-:tent. Borrtiwir shaft promptly furnish to Lender all notices of amounts to be paid tinder this paragraph. If Harrower makes these payments directly. Borrower shall promptly furnish to Lender receipts evidencing the payments. Errrawer shall promptly disclszrge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in wrong to the payment of thecl3;igation secured by Oe ken in a manner accepz< Me to Lender; (b) contest;zn good faith the halt by, or defends against enforcement of the lien in, I.-gal proceedings which is the Lenders opinirs, p7i erate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the i s`•3er "ache lien an agreement satisfactory to Lender subordinating ssn.•i; :en to this Security Instrument. If Lender deter. :fines tire, s y part of tLw ( Property is subject to a lien which may attain: priority over this Security Instrument, Lender may give U..rrower a naive idii< v#fying the lien. Borrower shall sati,Fy the lien or take one or more of the actions set forth above witl*.�'r .10 days of the giving of notice. 5. hlazaid Insurance. Borrower shall kpep the improvements nr.,- Fs existing or hereafter erected on the Property vrjiarcd against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender reequires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insutanr t: stall be chosen b�. Borrower subject to Lender's approval which shall not be unreal nda Pywithheld. AJl insurance policies and renewal& shz:.-J• to .acceptable to Lender and shall include a standard clause. Under stall have the right to hold the policies L-11 r,-,tewals. If Lender requires, Borrower shall pmmn; r.; � p.• :., --i Lender z h receipts, of paid premiums and renewal notice:. M the event of loss, Borrower shall give prompt notice to ti �e i r =urs :ace cLme: & tad Lender. Lender may make proof of lot,s if not made promptly by Borrower. Un:Iess Lender and Borrower otherwise Gg ss: in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. if the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim. then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 -day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrowers right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 6. Preservation and ;Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substantially change the Property, allow the Property to deteriorate or commit waste. if this Security Instrument is on a leasehold. Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and R% trtleshall not merge unless Lender agrees to the merger in writing. 7.. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrows- fails to perform the coveaanis and agreements contained in this Suuni; Instrument, or there iti a legal proceeding that may signific-ra ly affect Lender s`dghts in the Property (such as a proceeding in bankruptcy. probate. for condemnation or to enferce laws or regulations). then Lender may do and pay for whatever is necessaty to prcnect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any Sums secured by a hen which has priority over thts Security Instrument. appearing in court. paying reasonable attorney, fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7. Lender does not have to do so Any amounts disbursed by Lender under this paragraph 7 shall heroine additional debt of Itorruwcr secured by this Security Instrument Unhss Hurruwer and Lender agree to other terms of payment. these amounts %hall hear tntcroO from the date of dtsburtitnent at the Note rate and shall he patat,le, with n►tere%t. 111Nrn ntAwt: from I ender to ltorn.arr regaetttng payment �v t r. .A .; �.1 . Y 1` _..