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i i UNIFORM C�OVENAMS. Borrower and Lender covenant and agree as follows: V ��' o L Payment of Prineipel and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal ofand interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Funds forToxes and Insurance. Subject toapplicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly leasehold paytents or ground rents un the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance 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 oraccounts 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. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required 'to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing 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 Security Instrument. Uthe amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the dare dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall. be, At Bormwer's opt ,ray,. either promptly replAt( W Borrower or credited. po, Borrower an monthly payments of Funds. l;f tliic e^t l cte the rGr'?G lii-M'd by Lender is n , s:�€�cient to pay the escro 'runs whert due, FdurmA,il: i 1,a1J ga r to € et►der a ' �::: r��c,. �iYta�cu�il��^ �. r.. a• �': i- ��: orraar +ep�cn^�3= r'�=,�ii�%utder:. - : '• - : :, :. V)ndn pays ra.: r� . K.'; as s3 a, cad isr :tJr ,`"fir ��r in�lri r r. L ic3 er lt. ^n�►�' o L' fiaaar3 tai borrower an, FuMsmeld by ie t�.- erty is sti l; T � , r:M ir9 ! � FL'a&'err, n:65'.,t-,'slia :. a iy, no Un r- s� c, azii i diatelp 0: to the: ,ails •� ;lie pia ; or its acquisi n. i rd» 1 iii :Lender at the time of lei ?1iit on as a cry C�f�agai *wt cj; a urns spiry this Security Insta Appiiattcaa of Fr>aSitlr iis. Cr li s applicable law gr6czfi �� +•i ;, it r :iw . ;� lT j�3 :wlnraT�,S na�.zved lsy i -oft er under..... , f lits1pnd2shallbeapOi i'3i.-ff1;i1 ;,viT., — charges due under tf1e!]N5jir r:dnr3;'i,;i3repa�?irr,a3 cii c�iu_uitdcr(ii>r. � of ii3iit :tsaaml3�in1§ payable under par gj6iplt 2; fourth. to interestifim.snd last; fa princilral;dtir 41;: Borrower sh tt'�y all taxes, assessmewst, --4Alarges, fines and impahii: as attftibutable to the Propeii:v- ivfcich may attain priority over this Security Instrument, and leasehold payments or ground rents, if . BorruWtr shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shaanyll pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. S Hazsrd Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasmably withheld. All insurance policies and renewals shall be acceptable to Lender. and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. if Lerlcr requires, Borrower sha)] promptly give to Lender all receipts of paid premiums and renewal notices. In theevent of Jos-,,, Borrower shall give pro:-npt notice to th.e insurance carrier and Lender. Lender may make proof of loss if not made prom.-Mly by Borrower. Unless Lender and Borrower otherwise agree in writ ing, insurance proceeds shall be applied to restcra : :on 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 insu: ante prcceWs shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to 6'orrower. 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 i and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's 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. c, 6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substantially change the Property, allow the Property to deteriorate or commit was *e. If this Security Instrument is oil a leasehold, Borrower shall comply with fire provisions of the lease. and if Borrower a.quires fee t: i ,v to the Property, the leasehold and fee title shall not merge unless Lender agrees to the merger. ir, writing. 7. Protection of Lender's: Rights in the Property; Mortgage Lvsuraner. If Borre ":err fails to perform the Covenants and agreements contained in this Security Instrument, or O-m >s a legal proceeding that may significantly affecs Lender's rights in , :e, Property (such as a ;roreeding in bankruptcy, probate, :o: condemnation or to enfr.r a laws or regulatiN-Ts), then Lender may do ar. :t? ,,ay for whliever is neoessary to protect the va u&. of the Property and Limder s rights in th!.P per*y. Lender's actiosts .„oy include paying �a ; ;: sums secured by a liei, cc !rich has priority over t:::s Security instrritr exit, appearing in court. paying reasonable attorneys' fees and entering on the Property t„ make repairs. Although Lender may takeaction under this paragraph 7, Lender dues not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt cif Borrower secured by this Security Instrument. Unless Borrowrr and Lender agree to other terms of payment, these amounts shall hear interest from the date of disbursement at the Note raft and requesting pay ment. shall be payable, with interest. upon notice from Lender to Borron'er 7 . y. ,f• 'T �v I �r = r` ,-.