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<br />UNIFORMCovENAM. Borrower and Lendereovenint and agree asfollows:
<br />1l. Payment of Principal wad Interest: Prepayteent Mad Late Charges. • Borrower shall promptly pay when due
<br />the•principal ofand interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes 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 />twelfth
<br />one - of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Propertyi, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accaunts 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 eaminp on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and dd�s 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, togetbw with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items, shall exceed the arncu.:.1 required to the escrow items wheat due, the
<br />pay excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay tirc escrow items when due, BorroR� -r shall pay to Lender any
<br />amount n-cessary to make up the deficiency in one oz mcrepayments as required by Lef:oer.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender, shall promptly refund to Borrower
<br />any Funds held by fader. If under paragraph 19 the Property is sold or acquired by Lender, Lendew shM, apply, no later
<br />than immediately prsor 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 Instrum-ent.
<br />3. Application of Payments. Unless applicable tam.: -prcc ;des otherwise, all payments received by Lmder under
<br />paragraphs 1 and 2 shall be applied: first, to late charges &t .-=, —Lzrc�.. Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth; ri -:tit die:; and last, to principal due-
<br />4. Charges; Liens. Borrower shalt pay all taxes, assessments, charges, fines and imposteans attributable to the
<br />Property which may attain priority over tills Security Lnstrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner p: ovidad in paragraph 2, or if not ra!d in that manner, Burrower
<br />shall
<br />pay them on time directly to the person owed payment: &L-rower shall promptly furnish to Lender all notizesof amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall FaxLmptly furnish to Lender
<br />receipts evidencing The payments.
<br />Borrower sly promptly discharge arm j Irian which has priority ever this Security Instrument unless Borrower: (a)
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<br />agrees in writing to the payment of the obligackaa secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by. or defends a
<br />Y against enforcement of the tier, n. legal which in the Lender's
<br />:
<br />proceedings 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
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<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.
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<br />S. Hazard Insurance. Borrower shall keep the improvements now existird c r hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended u:t,erage" and any other hazards for which Lender
<br />requires insurance. IMis insurance shall be maintained in the amount` .»nd for the periods that Lender requires. The
<br />insurance carrier per ,-viding the insurance shalt -be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably witLheld.
<br />A" fns:;rance policies and renewals shalt be accerz[,.*e to Lender and shall include a standard mortgage clause;
<br />Lender shat a have .zw right to hold the policies ar d renew'.;. If Lender requires. Borrower shzi! promptly give to Lendr-1
<br />all receipts of paid 1pmmiums and renewal not j) :ate, fn tl~e e•, ent of loss. Borrower shall give prc^rrt notice to the insurance
<br />carrier and Lender. Lender may make proof of la.—; if enat - ide promptly by Borrower.
<br />Unless Lender and Borrower otherwise agroz! in w rang, insurance proceeds alt., :l be applied to restoran:c -n or repz it
<br />of the Property damaged, if the restoration or repair is exnomically feasible and Ltvder's is
<br />security not lessc ^w :. If t''
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the i 4 ;_,ranee proceed. �ha }1 Ix
<br />applied to the sums; _enured by this Security Instrument, whether or not them due. with any erc(.:ss paid to Borrower. if
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender thae zhe insuran,:x carrier has
<br />offered cos the a claim, then Lender may collect the u: =urar ce proceeds. Lender may use the proceeds to repair or restore
<br />the PrQlp rty or to pay sums secured by this Security ;n.,arument. whether or not then due. TTff, ?0•day will begin
<br />when trierotice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to ptindpal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. if
<br />under laragraph 19 the Property is acyvired b j bender. Borrower's right to any ins_uru;ce policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extant c_f the sums secured by this Security
<br />Instrument immediately prior tc the acquisition.
<br />6. Preservation and Maintenance of Property; 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 the lease. and if Borrower acquires feL tale to the Property, the .leasehold and
<br />fee titleshall not merge unless Lender agrees to the merger in writing.
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<br />7. Protection of Lender'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 />_- regultitirtn,$). then Ld.&,r may riot:md pay for whatever is necessary to protect the valire of the Prop city aild Leudrr'. rights
<br />in the 11toperty. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />L 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 securest by tF.n
<br />'Security instrument. Unless Borrower and Lender agree to other terms of paymcnat, t here amounts. %hall bear interest from
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<br />the date of disbursement at the Note rate and shall be payable. with interest, u fr,n notice from lender to lJotrouct
<br />requesting payment.
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