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<br />Ut+tLFdtttt CottENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payaeat Hof Priadpd sad l�Wrel% Prepaynmt sad Late Charges: Borrower shall promptly pay when due
<br />`the ofand interest an the debt evidenced by the Note acid any prepayment and late charges due under the Note.
<br />prirtcipatl
<br />2. Fad for Taxes asd Imwrsiam. ' 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 ("Fund
<br />is to
<br />la). leans and a3 cm is which may, attain priority over_ this Security Instrument; �(b) yearly
<br />sxie- i�relith of yearly.
<br />leasehold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; And (d) yearly
<br />martg* insurance premiums, if any. These items are called "escrow_ ,items." Lender may estimate the Funds due on the
<br />basis of am rent data and reasonable estimates of future esaraw items.
<br />` The Funds,sball be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
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<br />state igency (including Lender if Lender is such an.institution). D-fidet shall apply the Funds to pay the escrow items. '
<br />Letrdez may not charge for holding and applying the Funds,.aaalyzing tins account or verifying the,escrow items. unless_
<br />Lender pays Borrower interest on the Funds and applicable lacer permits Lender to make.sueh 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 />tequires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits 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 ofthe Funds held by Lender, together with the future monthly payments of Funds payable prior to
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<br />the due dates ofthe escrow items, shall exceed the amount required to.pay the escrow items when due, the excess shall be,
<br />at Bormwees option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lander is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Leader. Lender shall apply, no later
<br />than immediately prior 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 instrument.
<br />3.. Application of Payments. Unle;;s applicable law provides otherwise, all payments received by Lender under
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<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. ChargM 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 leasehold payments or ground rents, if any.
<br />Borrower
<br />Borrower shall pay these obligations in the manner provided in paragraph 2.6r if not paid in that manner, shall
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<br />pay them on 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 payments 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)
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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
<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 Gen to this Security Instrument. If-lender determines that any part of
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<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 />ofthe giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, 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
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<br />insurance carrier 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 $hall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. if lender requires, Borrower shall ptbmptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of los. , Borrower shall give prompt notice to the insurance
<br />loss if by Borrower..
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<br />carrier and Lender. Lender may make proof of not made promptly
<br />Unless Lender and Borrower 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 would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security instrument, whether or not then due. with any excess paid to Borrower. If
<br />Borrower abandons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim. then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security instrument, whether or not then due. The 30 -day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal 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 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 and Maintenance of Property; Leaseholds. llorrower shall not destroy. damage or substantially
<br />change the Property. allow the Property to deteriorate or commit +paste, if this Security` instrument is can s leasehold,
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<br />Borrower shallcomply with the provisions of the lease. and if Borrower acquires fee title to the Property. the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in %vrtting.
<br />7. Protection of Lender's Rigitts In the Pro�rty; Mortgage Insurance. If Borrower fails to perform the
<br />covenants and agreements contained in this Seeurii} instrument, or iircir �. a legal f�ri�iic�#irg ::tat .:.r. ;ig::ifrcarn; aflr-t
<br />Lendci s• rights in the Property (such as a procccJing in bankruptcy. probate. for condemnation of to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the %clue ofthe Property and Lender's rights
<br />has this Seeunty
<br />in the Property. Lender's actions may include paying any sums secured by is lieu which priority over
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<br />Instrument, appearing to court. paying reasonable attorneys' fees and entering on the Property to ntahe,,repatts. Although
<br />7. lender does has to do so
<br />Lender may take action under this paragraph not a
<br />Any amounts disbursed by Lender under this paragraph Is-hall herone addttamal debt of ItorrowcP1,coured by this
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<br />Security Instrument. Unless Uorrowcr and Lender agree to other terms of Paynneut. thc�c a +nlounts shall hear mtere�t frorie
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<br />the date of dicbImscneut at the Note rate and shall be p. uWc. %ith tntefe';T. upon notice from I ender to liprw%cr
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<br />requesting Payment.
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