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r i ILE 1 UNIPORIM COVENANTS- Borrower and Lender covenant and agree as follows: 1. PayomM of Priad*d tad It*mii0 Prepsyttaeat aced Late Charges. Borrower shall promptly pay when due the prindpal of and interest on the debt evidenced by the Note and any prepayment and late charge¢ dote under the Note. L Finch for Tattss aad lasonmee. Subject to applicable 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-tmMh of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly koebold payments or ground rents on 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 buts 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 atate agency (including Cornier if Leader is sucb an institution). Lender shall apply the Funds to pay the escrow items. if alder tray not chsrge for holding and applying the Funds, analyzing the account or verifying the ewrow.items. unless Lender. pays Borrower intesest on the Funds and applicable law permits Lender to make suds a chuge: Borrower and Leader may agree in- trritiatthat. interest shall be paid on the Funds. Unless an agreement: is made or applicable law requires interest to be paid; LendershO not be required to pay Borrower._ Try irter+est or earnings on the Funds. Lender shall give to Borroww. without cliugie_ an annual accounting of the Funds sl awfing credits and debits to the Funds and the purpose for which each debit to the Funds was made The Funds are pledged asmildibaulsecurity for the sums secured by this Security Instrument If the amount ofthe Funds held by Lander. together with the fuuure montftlk;psyments of Funds payable prior to the due dates of the a mw items„ shall exceed the amount required to pay the ver items.when due, the excess shall be, at Borrowees optiae, either pm mpdy repaid to Borrower or credited to Borroweroo. monthly payments of Funds. If the amount of the Funds bold by Lender is not sWBcie nt to pay the escrow items when due„ Borrower shall pay to Lender any amount necessary to maize up the delkiency in one or more payments as required by Lender. ' Upon payment in full of all sums secured by this Security butrument, Lender shall prcmptlly refund to Borrower any Funds held by Lender. If under paragnph 19 the Property is sold orsi:quire:d by Lender, Lender shall apply, no later than imm ilwely prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of appticatim ass credit against the sums secured by this Security Instrument. 3 App Uesdoa of Pay,sats. Unless applicable law provides otherwise, aii payments received by Lender under paragraphs 1 and 1 shM be spphW: first, to late charges due under the Note second, to prepayment charges due under the Note; third, to smocmts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; Ldass. Sommer stall pay all taxes, astessmeats. charges. Ones to impositions attributable to the Property which may attain prsotity_ over this Security Instrument, and leasehold payments or ground rents, if any. Borrower sSall pay these obligations m the ttmmer provided in paragraph 7. or if not paid in that. cnmner, Borrower shall pay them an time directly to the pe rsm owed payment. Borrower shall promptly furnish to Lenox all notices of amounts tube paid under this pantraph. If Borrower makes these payments dirrectly. Borrower shall pn3AVtly furnish to Lender receipts eM4wicing the paytmeats. f arzwer shag promptly dischuge any lien which has purity over this Security Instrument unless Borrower: (a) agrees in writing to the psymot of the obligation secured by the lien is amantner acceptable to Lender, (b) contests in good faith the lien by, or t3etteods against enforeerneat of the lien in, legal pr==ftp which in the Lender's opinion operate to prevent the enfor+cemect of the lien or forfeiture of any part of the Proper; f; or (c) secures from the holder of the lien an, agnenertt satisfactory to Leader subordinating the liar to this Security rmst unmene. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security I=r=ent, Lender may give Borrower a notice ident4ing the liras. Borrower shall satisfy the lien or take one or awre cft6-. amnions set forth above within 10 days of the giving o(nouce. S. Hass rd Iliaaaratee. Borrower sWU Icap the improvements grew existing or hereafter- erected on the Property insured ap fitat loss by fire. hazes. -d% included wit in the term "extended coverage" and any other hazards for which Lender requires imuwanae. This insurance sisal be maintained in the amounts and for tfre periods that Lender requires. The insurancie carrier providing the insr7artee sWI be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. AU insura:= Mudd and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender stall hays rte rght to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid pxeroiums and renewal notices. In the event of loss„ Bo4mwer shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged. if the restoation er r-Vair is economically fmxble and lender's secea *y is not lessened. If the restortticit, or repair is scot economicdly feasl-Ae or Lender's security would be lessened. the irs.:rance proceeds shall be applied its• the sums secured by this Security Instrument, whether or not then due, with any excess paid tc iorrower. If Borrower abandons the Property, etc does not answer within 30 days a notice frcm FAmder that the insuranga carrier has opened to settle a claimolen Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore Me Property or to pay sums secured by this Security Instrument, whenlier or not then due. The 30day period will bep;ir avhe i the notice is given. Unless Lender and Harrower 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 Z 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 pas to Lender to the extent of the sums secured by this Security instrument immediately prior to the acquisition. ti Premrvatloa std Maiatraatee of Prop W, Leaaerolds. 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 fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Leader's Rllp O is the Prop 1y; Mortgage Inearuee. if Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may signifle:antly affect Lender's rights in the Property (such as a proceeding in bankr ptcy, probate. for condor- nation at to enforce laws or regulations), then lender may do and pay for whatever is necessary to protect the value of the Property and Lenders rights in the Property. Lender's actions may include paying any sutras secured by a lien which has priority over this Security Instrument. appearing in court. paying reasonable attorneys' 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 arnounts disbursed by Lender under this paragraph 7 shall became additional debt of Borrower sautrd by this Security Instrument. Unless Borrower and Lender agree to other terms ofpsymenn. these amounts shall bear interest from the date of disbursement at the Note rate and Shalt be payable. with-interess. upon notice from [.ender to Borrower requesting payment.