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<br />GO 102379
<br />UMFMM COVViAi+t M Borrower and Lender covenant and agreeas follows:
<br />1. Payment of Pdadod and loterest; Prepayaaest sutra Lott Cbwga. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Noteand any prepayment and late charges due under the Note.
<br />2. Fasais for Taxa asd Iawsum Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender out the day monthly payments are due under the Note, 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 ryments or ground rents on the Property, if any; (e) yearly hazard insurance premiums; and (d) yearly
<br />martp a insurance premiums, if any. These item 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 oraceounts of which are insured or guaranteed by a federal or
<br />state spney (including Lender if Leader 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 oz %w filing the escrow items, unless
<br />Lender pays Bom wer interest on the -Ponds and applicable law permits Lender to matte such a charge. Borrower and
<br />Leader may agree in writing that inftW shall be paid on the Funds. Unless an agreement is made or applieabis law
<br />requires interest to be paid;. Leader sball'not be required to pay Borrower any:inte rest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge; as annual accounting of the Funds showin.credits and debits to the Funds sled the .:
<br />purpose for which each debit to the Enft was made. The Fundsare pled&W as ad&ii ;>ai security for the sums semiied by
<br />this Security 3grstrument.
<br />If the amount of the Fundsi.Wid by Lender, together vVkh the farm: monthly payments of Funds payable'phor to
<br />the due dates of the escrow items, shall exceed the amount required to pay ftiscrow items when due, the excess shall be,
<br />at Borrow-ees option, eitlw promptly repaid to Borrower or credited to Barr ewer on monthly payments of Funds. If the:
<br />amount of the Funds held by Lender as vot sufficient to pay the escrow items when due, Borrower shall pay to Lender any.: :
<br />amount necessary to makeup the deficiency in one or more payments as required by Linder. -
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Boirow&-
<br />any Funds held by lmc* If under paragraph 19 the Property is sold or azquired by Lender, Lender shall apply. "itu ,later
<br />than immediately prior to the sale of the Property or its acquisition by L m&r, any Funds held by Lender at- the jm' a of
<br />application as a credit against the sums secured by this Security Instrument:
<br />3. Applicadm of Psyssents. Unless applicable law provides otherwise, all payments received by Lochdiez-35'er.
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due-
<br />4. Cbarm Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority,over this Security Instrument, and leasehoU payments or ground rents, if any.
<br />Borrower shall pay these obligations ia•the manner provided in paragraph 2, or if not paid_ in that manner, Borrower shall
<br />pay them art time directly to the person owed payment. Borrower shall promptly furnish- to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these paymi nts directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in waiting to the payment of the obligation secured by the fren in a manner acceptable to Lender, (b) contests in good
<br />faith the lien by. or defends against enforcement of the lien in. legal proceedings which in the Lender's 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
<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 ac: , =s set forth above: within 10 days
<br />of the giving of notice.
<br />L Hazard Ltwratnee. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by bra, hazards included within the term "extended coverage' and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance c envier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the rigiii: to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid preftatas and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make.proof of loss if not made promptly by Borrower.
<br />Union Lender and $orrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security wouH be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not zhen due, with any excess paid to Borrower. If
<br />Borrower abortions the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to seals a claim, then Lender inay collect the insurance rrocceds. Lender may-use the proceeds to repair 40 restore
<br />the Property or to pay sums secured by this Security Instrumem, whether or not then due. The 304ay period will begin
<br />when the notice is given-.
<br />Unless Lender ardf Borrower otherwise agnm m writing. any appliatrion of proceeds to principal shall not extend or
<br />postpone the due date of :tae month :y payments seferred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />under parspoi- a 19 the:Property is 2equired by Lender, Borruwee's right to any insurance policies and proceeds resulting
<br />from damW tn. the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Swari ty
<br />Instrument imtraediately prior to the acquisition.
<br />6. Phiserraties salt Maisteataaee of Proper; l easeiolds, Barawer 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 Property, the leasehold and
<br />fee titleshal) not merge unless Lender agrees tothe merger in writing.
<br />7. Protection of Leader's Rights is 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 tint 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 />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />Instrument, in court. paying reasonable attome3 V fits 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 secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall tear interest from
<br />the date of disbursement at the Note rate and shall be payable, with interest. upon notice from Lender to Borrower
<br />requesting payment.
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