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<br />UNIIaIRt1('alei` -N `Is Borrower and Lendercovenant and agree a.follows 1 va'°"'t' 102711
<br />1, Payment of Principal and. Interest; Prepay meat and Late Charges, Horrower shall promptly pay when due
<br />the principal of and interest on the dcht evidenced by the Note ;and any preT aynaent and hate charges due: under the Note.
<br />2. Funds for Taxes and Insurance. Subject to appicable law rr tt; a ►v rUtcn lean cr by Lender. Borrower shall pay
<br />to Lender tit% the day monthly payments are due tinder life Note, until Ot: Note is paid in full, it sutra ( "Funds") equal vo
<br />one-twelfth of (a) yearly taxes and assessmtgnty which may attain pnoriry aver tins Sccurtly Instrument; (Iv) yearly
<br />leasehold payments or Freund rents on the Property, if any; (c) yearly ha/ard 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 future escrow items.
<br />The Funds shall he held in an instittitittn 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 ray 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 Fundi and ;applicable law permits L.citder to make such 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 />requires interest to he paid, Lender shall not ba: required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Bcirrow•er, wtthout charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for w hick each debit to the Funds was made. The Funds are pledged as additional security for the sums secured be
<br />this Security Instrument.
<br />If the amount of t1:0. Funds held by Lenda�er, together watt the future monthly payments of Funds payable prior to
<br />the due dates of the escrow. hems, shall exceed the amount r%N.uired to pay the escrow items vv hen. drat;. the excess shall N-.
<br />at Borrower's option, eithti "r promptly repaid to &7mower rr Credited to Borrower oat monthly pityti;ercx of Funds. If the
<br />amount of the Funds hezt( Sy Lender tsT not sufficient to pav lb.e escrow items w hen due. Fk rrower sh;a.l'pay to Lender any
<br />amount nevv nary to make up the dtt iency in one or more 'Ni wicmts as required by Lender.
<br />UM-0 paYmentt it, full of ail sums secured by this Security instrument, Lender shall promptly refund to Wirrower
<br />any Funds held by Lender. If under paragraph 114 the Property is sold tit a-cquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Property or its acqu ation ifs Lender, any Funds held by Lender at the time of
<br />applicationas acredit against the sums secured by this Security Instrument.
<br />d. 'Application of Payments. Unless applicable law pttvvtdes otherwise, all payments received by Lender' under
<br />paragraphs I 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 payahte under paragraph 2: fourth, to interest duc;'arri' last, to principal due.
<br />4. Charges; liens. Borrower shall pay air taxes, assessments, char. &t.�s, fines and impositwns attributable to the
<br />Properly which may attain priority user this SAxurity Instrument, and leasehold raiments cr gmund rents, if any.
<br />Borrower shall pay these obliganons rat the manner provided irt, paragraph 2. or tf not paid; in that manner. Borrower shall
<br />pay them on time directly to the person owed payment. Borro ar shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph 11`Borrower makes these payments direct]. Horrower 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 />ags«s try writing w i is )Tajnlctit of the twhgat rm secured by The lien in a manner acceptable to i ender. contests in good
<br />faith the lien bv, or defends against enforcement of the lien in Il f.al pr!a_, e.linrs s0!rh tr1 the Lender'-: 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 sntxrdinattng ih.c• Iten to this Security ltritrumeni If Lender determines that any part of
<br />the Property is subject to a hen which may attain priority mer this Security Instrument. Lender may give Borrower a
<br />notice identifying the lien Borrnwer shall satisfy t[ic •lien or take one or more of the actrom set forth above within 10 days
<br />of the givtag of notice.
<br />S. Hazard Insurance. Bilrrox%er shall keep the imi njccments now extstingltr. Yitreaftcr erected on the Property
<br />insured aoi'nst loss by Ere. hazards included within the term "eitended coverage" arid any other hazards for which Lender
<br />requires insurance. 'ntis Insurance shall he maintained in the .amounts and fir the periods that Lender requires. The
<br />insurance tamer prn%;u iC
<br />unreasonahFy., wit h held.
<br />the insurance shall he chosen h} Borrower suhlrct to Lender's approval which shall not be
<br />All Insurance prdsres 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 prerreptly give to Lender
<br />all receipts of paid premiums and renewal notice(-. in the event of has. Borrower shall give prompt m,at.we to the insurance
<br />'carrier and Lender. Lender may make proof of hiss if not made promptly by Horrower.
<br />L: this. Lender and Borrower orherwise agree to writing. insurance proctrds shall hra•pplied to restoration or repair
<br />of the Property damaged. if the restoration or repair is economically feasible arid Lender's security is not lessened.•Lf the
<br />restoration or repair Is not economically feasible or Lender's security would he lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument. whether nr not theta due, with any excess paid to Borrower. If
<br />Borrower abandons the P°ri)perty. or does not answer within 341 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim; then Lender may collect the msuran,l^ fir. �. eels. tender may uut the- proceeds to repair or restore
<br />the Property, a ?r to pay sums secured by this Security )nstrurn;r i. whether or not then duc The 10 -day period will begin
<br />when the noice isgiven
<br />t:nlesc l.endef.afrtd iiorrsv +er r�therw: ,c a €rc,; rn writing, any applicaluin of pncceeds 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 amoLm of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Horrowcr's right to any insurance papacies and proceeds resulting
<br />from damage to the Property prior it) the acquisition shall pass to lender to the extent of the sums secured ha• this Security
<br />Instrument immediately prior to the acgwsitioll
<br />6. Preservation,urd Maintenance of Property; Leaseholds. Horrower shall nail tiv irty, damage t 7r suhstantlally
<br />change life Property.:4liow the Property to deteriorate or commit waste if this Security Instrument is on a Ica-whotd,
<br />Borrower -;hall comply with the provisions rat the lease• and if Horrower acqur;cs fcc fill(- I', the• Property. file leasehold .Ind
<br />fec title shall not merge unless I cndcr agrees it, the merger ill w rmnp
<br />7. Protection of Lender's Rights in the Property: Mortgage Insurance. If Horrower fails it, pciltlntt the
<br />toarnattts and agrrerncnts contained rn this Sccunty Instrument. or there• as a legal pr,,\ccdult; that m.as %iynih, aptly .tact t
<br />lender's rights In the Property Isucb .is :, praKCcx)u:g rat hankruphA. Probate. tl•r tt.rn)rrnn.au,,n Ili t•• t rift•rtr laws ,•t
<br />regulation.,). then F ender may do and p.n for whateccr is necessary tai protec t the —tluc• t•1 the I'r,,pt:ri% .nut 1
<br />in ttae Prtt per i} Lender's et:nlns III J% Itiiltlilt' p.,1111 ::uij .1711, IeLcurt•tt by a lard tc in, h h.ts p It -I , ,ter III "'— ,1 „Ifc
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