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UNii-oR41Cnc1,N4Vts Borrowef and Lender covenaniandagreea %follows • 89..102848 1. Payment of Principal and Interest; Prepayment and Late ('barges. Iorrower ~hall promptly pay %%hen due the principal of and uitcnst out lie debt evidenced by the Note and any preps! nient and Irate charges duc under the Note. 2. Funds for Taxes and Insurance. Subject iii al plicahle low or to it written waiver by Lender. Horrower shall pay to Lender on lite day tnonihly payments ure due under the Notc, until the Notc is paid in full, a sum (" Fund%') equal to one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument: (b) yearly leasehold payments or ground rent% on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance premiums. if any. These items arc called "rwrow• items." Lender may estimate the Funds due on the basis of current data and reasonable estimates of fixture escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Leader pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Security Instrument. If the amount of the Funds held by Lender, together with ,tie future monthly payments of Funds payable prior to the due date% of the escrow items, shall exceed the amount required to pay the escrow items when duc. the excess shall be. at Borrower's option, either promptly repaid to Wrrower or crWited to Borrower on monthly payments of Funds. if the amount of the Funds held by Lender is not sufficient to pay the ,crow items when due. Borrower shall pay to Lender any amount necessary to make up the defectemy in one or more paytrriestts as required by Lender. Upon payment in full of all suins secured by this Security Instrument; Lender shall promptly refund-tc Borrower any Funds held 1'+y Lender. if under paragraph 19 the Property is qoid or *NWred by Lender. Lender shall apply. no later than immediately prior to the sale of the Property or its acquisitiorr, by UruLm any Funds held by Lender at the time of application asa. rcdit against the sums secured by this Security Lctstrumen't. 3. Application of Payments. Unless applicable law pray.. des otherwise, all payments received by Lender under paragraphs i and 2 shall be applied: first, to late charges due under the Note; second. to prepayment charges due under the Note; third. to amounts pxYable under paragraph 2; fourth, to interest due; and last, to principal due. 6. (Charges; Lien.. '. Borrower shall pay all taxes, assessments. charges. fines and impositions attributable to the Property which may atain prionzy• oi.er this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these o6Nigaikons in the manner provided in paragraph 2. or if not paid in that manner, Borrower shall pay them on time directs!' ca the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in .Writing to the payment of the obligation secured by tote l*i in: a'rita;6ri'er acceptable to Lender; (b) contests in good faith the lien bv, or defends against enforcement of the lien in. t.egal proceed. rctgs which, is the Lender's opinion operate to prevent the enforcement t ?£,the lien or forfeiture of any pan of the Property;; or (c) secures from the holder of the lien an agreement satisfactory to [ender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property; is subject to ,a lien which may attain priority over this Security instrument, Lender 'may give Borrower a notice tdencify.ng the lien. Aorrower di.all satisfy the lien or talc one or more of the atittorrs set forth above within: i.0. days of the gi►ing.o[ notice. S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the ]:.rgperty insured against loss by fire, hazards included within the term "extended ccnerage" and any other hazards for w•hich'Lender requires insurance. This insurance shall he maintained in the. amoi rats dzd for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Bo- roirer.gubject to Lender's approval which AMU not be unreasonabl.t .withheld. All' insurance policies and rentwals shall be acceptable to Lendcr:artd shall include a standard mortgage clause. Leader shall have the eight to hold, Ah' a policies and renewals. If Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and-renewal notices: In the event of loss. Bortdwer shall give prompt notice to the insurance carrier and Lender. Lender may mateproof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in wntuig:,insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened. the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. if Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will begin when the notice is given. Unless Lender and Borrower 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 1 and 2 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 pass to Lender to the extent of the sums secured by this Security instrument immediately prior to the acquisition. 6. Preservation and Maiotename of Property; Leaseholds. 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 %hall 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 Lender's Rights in the Property: Mortgage Insurance. If Borrower fails to'lkrforli the covenants and agreements contained in this Security Instrument. or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or to enforce bw% or regulations). then Lender may do and pay for whatever is necessary to protect the, aluc of the Properl% and Lendor'srights in the Property Lender's actions may include paying any sums secured by a hen 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 amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument Unless Borrower and Lender agree to other te:-m% of payment. these amounts shall tear interest from the date of di%hursernent at the Noic rate and shall he payable. %►ith Interest, upon notwe from i ender to Horroacr requesting payment t. -� P 4 F .. s+- I