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<br />UNIFORM COVENANTS Borrower and Lender covenant Hari agree aN fi +Iluvvr;
<br />Ell)--102888
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges dus under the Note.
<br />2. Funds for Tares and 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 - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on tit. 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 future escrow items.
<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 wrs:t %rig that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be parr,), 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 of thn.. Funds held by Lender,, t.y. ther with the future monthly payments of Funds payable prior to
<br />11be dwe dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be,
<br />ta415toar wer'ha ,vtion. either promptly. -,,,paid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />�imrvmt rof uh. Funds held by Lender 1is rapt sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />a:1r. ew rg6.vwry to make up the deficiency in one or more payments as required by Lender.
<br />Vp61i llr.3yment in U -M of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds 1tl& 15y Lend0l, Qfi.iinder paragraph 19 the Property is, sold or acquired by Lender, Lender shall apply, no later
<br />than immedtnr4 prior to the sale of the Property or its acqui, -i�ktn by Lender, any Funds held by Under at the time of
<br />application as a ztedit against the sum %ca:ured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 sha Dtvapplied: first. to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2.6,,Yurth, 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 'lsw^er this Security Instrc mcnt, and leasehold payments or ground rents, if any:
<br />Borrower shatl tray these obligations in the manner renxtded r ri tivaragraph 2. of if not paid in that manner, Borrower shall
<br />pay them on time directly to the person owed payme%u. 1 *;r;s+er shall promptly furnish to Lender all notices of arnot nzs
<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 />Borrow•ershall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writiiV 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 d6mds agairtsi rrifirrcemezt of the lien in. legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeit.lirie of. any part of the Property; or (c) secures from the holder of the lien at..
<br />agreement saris 4, 00ry to Lkhtler subordinaiirig -fha lien to this Security Instrument. If Lender determines,that any pan of
<br />the Property is siibject to a lien which may attain priority over this Security Instrument. Lender may give Borrower a
<br />izotice identify ,,4 the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving oftsc,ice. :
<br />S. Hazard Insuraitt`e. Borrower shall keep the improvements now eaL4ting or hereafter erected on the Property
<br />insured against: Cass by fire, hazards included within the term "extended oaveraga' and any other hazards for which Lender
<br />requires insurar,=. This insurance shall be maintained in the ainuunts and for the periods that Lender requires. The
<br />insurance c:arrmr 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 right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender
<br />311 receipts ofPid premiums and rental notices. In the event of lo", Borrower shall give prompt notice to the insurance
<br />carrier and Lettaler. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance pro--reds shall be applied to restoration or repair
<br />'oC'tlte Property damaged, if the restoration or repair is economically feasiblf t and Lenders security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security .wuul'd! lie 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 Borraw4m... If
<br />Borrasser abandons the Property, or does not answer within 30 days a notice from Lender-that the insurance carrier has
<br />00' rod-W Wile a claim. then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />ttn TrOPerty 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 riot extend car
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payment% Cf
<br />udder 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 Maiateaaace of Property; Leaseholds. Borrower 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 title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance. If Borrower fails to perform the
<br />covenants and agreement'. contained in this Security' ImIrument, or there i% a legal proceeding that may slgmticanth affect
<br />Lender's right% in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce law% of
<br />regulations), then Lender may do and pay for whatever iv necessary to protect the value of the Property and Lender'% right%
<br />in the Property Lender's actions may include paying arw sums secured by. alien which ha% pnorrty trier thr. Sc•curm
<br />Instrument. appearing in court. paying reasonable auortrr)x' fete and entering on the Property to make rep.tir. Allho9gii
<br />Lcnder may take action under thi% paragraph 7. Lender does eor have to do %o
<br />Any, amount %dr%bumed by Lender under 1111 %paragrartb 75hall become addition it debt of Iiorro%%er %t%urcd by ihr%
<br />Serurrtyln %trurnent bale%% Ilo rruwer and Lender agree trrm htrternisofray ment, rhr.^ .,rutunr. %lijil hear mtt,t•.rtrom
<br />the date of disburwrilew at the Note rate and .,;ill he p;iy,ih!e. with 1litett•%t. tiros ru,n,v tn�m 1 cndrr r, fl, rr• +%r�
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