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<br />U NIMRM COVv NA IS 1,)orrow•er and lender covenant and agree as follcm V 9---. 102642
<br />I. Payment of Principal and Interest; Prepayment and late Charges. Borrower .halm promptly pay when duc
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and lute charges due under the Note
<br />2. Funds for Taxes sad Insurance. 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 ( "Funds ") equal to
<br />one- tweMlh of: (a) yearly taxes and assessments which nmay attain pnority over this Secuty 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 Funds due on the
<br />basis of current data and reasonable estimates of futur r items.
<br />Cscro:r
<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 />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in wetting that interest shall be paid on the Funds. Unt ess an agreement is made or applicable law
<br />requires interest to be paid, Lender shall not be required to paw 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 of the Funds held by Lender, together waah the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items. shall exceed the amount requtmid go pay the escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or crud. red to Borrower on monthly payments of Fiends_ If the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow iterrns when due. Borrower sfi:all pay to Under any
<br />amount necessary to make up the deficiency in one or more payments im tvwcred by Lender.
<br />Upon payment in full of all sums secured by this Secuctty Instrument, Lender shall prompdy refund to &isrower
<br />any Funds held by Lender. If under paragraph IQ the Property is sold oa acyutred by Leader, Lender shall apply'. no later
<br />than immediately pnor to the sale of the Property or its acgwsctsosi by Lender. any Funds held by Lender it tire. time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. AppUcatdoa of Psytaviitts. Unk u applicable law pn- mvides otherwise. all payments rcm%cd by lwettider under
<br />paragraphs 1 and 2 shall be applied: Ant. to late charges due under the, Note; second, to prepayment cbmScs done under the
<br />Note;, third. to amounts payable under paragraph 2; fourth. to interest due, and last. to prirtripal due.
<br />d. Clam ons LIOW Borrower shall pay all taxes. astimmentsr charges. fines and impositi ottributa Me.. to the
<br />FrOperty which may attain priority over this Security Instruntimt. and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2. or if not paid in that nriasilser, Borrower shall
<br />Pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender aU 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 s1 WI nnvointly eri.oh•r....... u...... i.— .:.° -.•-- .. ._
<br />. - --. - -. ._ —.s •••••• ..1:::h e"v iawssay vrci ins, aEsYriiy lnsirumeni tiRleSS IWTOWci: �s)
<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 />fsith the lien by, or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to
<br />prevent the cafurcetnent 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 icily Fart of
<br />the Property is subject to a lien which may attain priority over this Security Instrument. Lender may give Bomewer 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 />,
<br />of the giving of notice.
<br />S. Hazard Issarsaim. 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 sny other haurds for which. Lender
<br />,
<br />requires insurance This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />r^
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgag'
<br />e clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender
<br />requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall 1pi. prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance be or repair
<br />proceeds shall applied to restoration
<br />of the Property damaged, if the restoration or repair u 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 arty excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance earner has
<br />offered to settle a claim. then Lender may collect the insurance Lender
<br />proceeds. 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 304ay 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 tight to any insurance policies and proceeds resulting
<br />from damage to the Property Prior to the acquisition shall to Lender to Security
<br />pass the extent of the sums secured by this
<br />Instrument immediately prior to the acquisition.
<br />6, Preservation sate Mafattmme of ProperW; I.embokW. Borrower shall not destroy, damage or substantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Secunty Instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee titre to the Property, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Leader's Rights In 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 that may significantly affect
<br />Lender's nghts 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 Secunty
<br />Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Propeny to make repairs A Ilhough
<br />tender may take action under this paragraph 7. Lender does not have to do w
<br />s
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower sec ureci by rhos
<br />Secrty Instrument Unless Borrower and I ender agree to other teens of payment, these amounts shall tsar inlet C %I fr, to
<br />the date r:f dithurcerrrent if time %rte rate and shall be payable. with interest. upon m rr a Ir, t* 1 ender r I ;.vr air
<br />requesting i*layment
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