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<br />8s--i o 3 i 1 s
<br />UNIFORM Cf)v)~tVANTS Borrower and Lender covenant and agree as follows:
<br />1. Payment er plinelpal and Interest; Prepayment and late Charges. Borrower shall promptly pity when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Panda forTaxea and lesuranee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day m(nithl+ppaymcnts 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 pisymenta 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 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 />Leader may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower intaresi'on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Leader may agree in writing that interest shall be paid on the Funds,. Unless-, an agreement is made or applicable law
<br />requires interest ;a be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borre wer, 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 secuted by
<br />this Sacurity t"Llaetnent.
<br />. Ift the ur o. unt of'the Funds held by Lender, together with the future monthly payments of Fiends payable prior to
<br />the dCvedaeacAthe escrow item shall exceed the amount required to pay the escrow items when due, the excess shall be.
<br />at Barnvwvr s (T+mn, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. Ifkhe
<br />smount-oi'the Dads held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br />amnurit necessary to makeup the deficiency in one or more payments as required by Lender,
<br />Upon payment in full otall 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 Lender+ Lender shall apply, no later
<br />thait immediately: prior to the sate of the Property or its acquisition by Lender. any Funds held by Lender at the time of
<br />application as acredit against the sums secured by this Security instrument.
<br />3. Appliictities of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />parW. iphs I and 2 shall be applied: first, to late charges due under the Note; second. to prepayment chastgnsdue under the
<br />Netez third, to.amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />i, C'Mirges; I.ietta. Borrower sltait pay all taxes, assessments. charges, fines and impositions attributable to the
<br />Preperky which may attain priority over this Security Instrument. 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 its that mantle*. Borrower shall
<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 udder 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)
<br />bt w in ri ins to •air. pay acrd v, ,,,v otnigaiiVi1 seemed by t rte t =-14'n a itiantice apoxpiabic iv Lender, CO) 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
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<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
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<br />agreement satisfactory to Lender subordinating the lien W this Security Instrument. If Lender determines that any part of
<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 />of the giving of notice.
<br />S, Hazard Insaraam Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, huxatrds included within the term "extended coverage" and any other hazard9'for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts acid 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
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<br />unreasonably witltbk&
<br />All insuranav, pot� -ies and renewals shall be acceptable to Lender and shall include a standard) mortgage clause.
<br />Lender shall have.ifto right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of p6d premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the institr ace
<br />carrier and Lender. Lender may make prmFef loss if not made promptly by Borrower.
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<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged. if t6 restoration or repair is economically feasible and Lender's security is tter.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 Ito 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;ie claim. then Lender may collect the insurance proceeds. Lender may use the proceeds. r . ' it or restore
<br />the Property of to pay sutras secured by this Security Instrument, whether or not then due. The 30-day period will begin
<br />wlrett.the noticeis given.
<br />Unless mender and Borrower otherwise agree in• writing, any application of proceeds to principal shall not extend or
<br />pcStpone the 4: a date of the monthly payments referred to in paragraphs i 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 insuram* policies and proceeds resufting
<br />tcbm damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />litscument immediately prior to I he acquisition.
<br />" 6. Presenatiott and btaintenanee of Properjiy; Lewholds. 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 Header'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 rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or to enforce laws or
<br />refutations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br />in
<br />the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security
<br />instrument. appearing in court, paving reasonable attorneys' fees and entering on the Property to niake repairs Although
<br />Lender may take action under this paragraph 7. Lender does not has a to do so
<br />Any ar*rounts disbursed by Lender under this paragraph 7 ,.hall become additional debt of Horrouer secured by this
<br />Secunty instrument Unless Borrower and Lender agree toot her terms of payment. these am,,utits,.ha11 tear interest from
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<br />the date of disbursement at the Nnte rate and shall he payable, with miere%i, upon m•ti,c fi(m) Lender to Rorrouer
<br />re-westing g_yrrr:it
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