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<br />$9-- 101655
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principd and 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 Taxesand Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lextder on the day monthly payments are due under the bate, 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 items." Lender may estimate the Fundsdue on the
<br />basis of eurrent data and reasonable estimates of future escrow items.
<br />The Funds 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 naa c1harge for holding and applying the Funds. analyzing the account or verifying the escrow items, unless
<br />JAmder payer Bwrowir interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lendea. ixl, agree in writing that interest shalt be paid on the Funds. Unless an agreement: is; made or applicable law
<br />regwuess interest to be paid, Lender shall not be required to pay Borrower any interest or earnings can the Funds. Lender
<br />shall givrta Borrower, without charge, an annual accounting of the Funds showi.itg credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as addNiim! securitp for the sums secured by
<br />this Security lnstrun=. t.
<br />If the amount elf the Funds held by Lender, together with the ft iture-mohiftly:'paymgits of Funds payable prior tn,';.
<br />the due dates of the est>mw items, shall exceed the amount required tit (mv' the ew' .w0i iten s when due, the excess sha�i boo- '
<br />at Borrower's option; either promptly, repaid to Borrower or credited "ter" �orraw&. vii. monthly payments of Funds. If thel
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items wheir'due, Burrower shall pay to Lender any
<br />amount necessary to ruai4e up the deficiency En tine or more payments a tY aired by Birder:,
<br />Upon payment in full of all sums secured by this Security Insi>'turient, Lender shall.pnumptly refund to Borrower
<br />any Funds held by loader. If under paragraph 19 the Properly .ia.sttld:!;Srut:cllyrc /i:Isa} l id , Wider shall apply. no late!
<br />than immediately prior to the sale of the Property or its acquiditpp.lr!'Lt tit ;'ruz?' i =ads held by Lender at the time of
<br />applica -i,m as a credit against the sums secured by this Security Inst h.i iitstt:
<br />3. Application of Payments. Unless applicable law ptovitim iai4 :rwise, s.,'_ payments received by Lender under.
<br />paragraphs 1 and 2" be applied: first, to late charges due undWthe lice; second, to prepayment charges due under the
<br />Note; third; to amounts payable under paragraph 2; fourth, to interest due; and las Y :o principal due.
<br />4. Charges; Uens. Borrower shall pay all taxes, assessments, charges. fres.and impositions attributable to tl. e. ''.
<br />Property which may attain priority over this Security Instrument, and leaseiald payments or ground rents, if any.
<br />Borrowershall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower sh2 al
<br />pay them on time drectly to the person owed payment. Borrower shall promptly furnish to Ue id;:r all notices of amounts
<br />to be paid under thisoaragraph. if Borrowvv� makes these payments dir_stly, Borrower shat: ;-.--tsn-,ptly furnish to Lender
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<br />receipts: evidencing the payments.
<br />'Borrower shall promptly discharge any lien which has priority over this Ser:�aty Instrument unless Borrower: (a)
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<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
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<br />faith the Gen by, or Defends against enforcement of the lien in, legal T cceedings which in the Lender's opinion operate to
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<br />prevent the enforcem.mt of the lien or forfeiture of any pan of the Pmr, eny; or (c) secure: from the holder of the lien as
<br />agreement satisfactory to Lender subordinating the lien to this Secu6t.i, Enstrument. If tender determines that any part cf
<br />the Property is subject to a lien which may attain priority over this Security Icsitrument. Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one n•; more of the actions set forth above within 10 days
<br />of the giving of notsiae.
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<br />S. Ha grif tesurance. Borrower %lta'1` keep the improvemeov,!,now existing or herw r.er erected on the Property
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<br />insured against lc-s5 ha ='dsincluded within the term "extender .overage" and any otherhazards for which Lender
<br />requites; insurance. 'T!tis in &urvivrshall be maintained in the amounts and for t a periods that Lender requires. The
<br />insurandt carrier the insurance shall be chosen by Borrower stilject to Lender's approval which shall not be
<br />unreasonably withbeta.
<br />All insumtkct and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have i:fT:ec-rlu tai :hold the policies and renewals. if Len(i.r requires, Borrower shall promptly give to Lender
<br />all receipts of paid prerniuires'vTi renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender rn w) make proof of loss if not made promptly by Borrower.
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<br />Unless Lender and Borrower otherwise agree in writing, insuran x pr(weeds shall be applied to restoration or repair
<br />of the Property damaged. if the restoration or repair is economically ti:asible and Lender's security is not lessened. If rite
<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 t his Security Instrument. whether ,;r s.ot then due, with any excess paid to Borrower. If
<br />Borrowetatnindons the Proper:y,.or does not answer withiii Voi.L3% a notice from Lender that the insurance carrier has
<br />offered to settle a claim, there Lender may collect the insurance prt.;:t-4:[s. Lender may use the proceeds to mpuir'er restore
<br />the Property or to pay sums secured by this Security Instrument, whether or net then due. The 30-day period will begin
<br />when thenotice is given.
<br />Unless lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extender
<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 paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds 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 wd 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 fee title to the Proper ty, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property: Mortgage Insurance. If Borrower fads 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 (u to enforce taws or
<br />rep htWns), then Lender may do and pay for whatc%er is necemary to protect the tadue of the Property arid Lender's rights
<br />in the Property. Lender'sactions may include paying any sums Secured by a hen which has pnority (ner this Security
<br />Instrument, appearing in court, paying reasonable attorneys' fees and entering op the Property to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender dries not hate to doto
<br />Any amounts disbursed by Lender under this paragraph I shall become additional dcht of Borrower secured by this
<br />Security instrument. Urilets lorrower and I.ender agree to Ether c-•nn� of payment, these• amtvmns shall hear interest from
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<br />the date of disbursement at the Sore rate and shall be p:f }able. with rntereo. iipoit iwtint, ftom I ender its lorrower
<br />requestcng pa)rnent,.
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