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90 ---10 o' 3 4 0 UNIFORM COVENANTS Borrower and Lender covenant and agree as follows: 1. Poystaot of Pdaelpal sad logos ; Prepsymeat and Late Charges, Borrower shall promptly My when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charge► due under the Note. 2. Ltissie for Taxes sail lwAtraaoe. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full. a sum ( "Funds ") equal to one - twelfth of: (a) yearly taxes and aneuments which may attain priority over this Security Instrument; (h) yearly lewhold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance premiums. If any. These items are called "escrow items." Lender may estimate the Funds due on the basis ufeurrent data utd coma" atimates of future escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or auto agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lander may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender 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 Leader shall give to Borrower, without champ. so anaual accounting of the Funds showing credits and debits to the Funds and the j purpose for which each debit to the Funds was made. The Fit" are pledged as additional security for the sums secured by tbia Security Instrument. If the amount of the Funds beta by Lender. together with the future monthly payments of Funds payable prior to the due data of the escrow ioms, sW exceed the amount required to pay the escrow items when due. the excen shall be. �. at Borrower's option, eitb ;- pwimptly repaid to Borr#-AAvr or credited to Borrower on monthly payments of Funds. If the atezount of the Funds held ht Lender is not sufficiemta to pay the em ow items when due. Borrower shall pity to Lender any 1 tiff 4unt necessary to make up the deficiewy in one or more payments as required by Lender. Upon payment in fall of all sump, secured by this Secant.v Instrument, Lender shaPP promptly refund to Wirower I any Funds by Lender. if under pavvSrsph 19 the Property is sold or acquired by Lender. Lender shall apply, Pill Uter than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by Leader at the tim of (1 application as a credit against the sums secured by this Security Instrument. 3. AXACMI a of Payments. Unless applicable laws provides otherwise, all payments received by Lender under paragraphs I and 2 shall be appliedt firm, to late charges due under the Note; second, to prepayment charges due uwWe;r the Note; third, to amounts playable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Chows; Liama. Borrower shall pay all taxes, assessments, oha"im fines and impositions a:caributable to the Peapetrty which may attain priority•over this Scn+ut• y Instrument, and 4 aeehold payments or Siry wnd rents, if any. Borrower shall pay these obligations in the manner: U.w.L ended in paragraph 2. or if not pall its that mm aer. Borrower shall ; 1 pay them on time directly to the person cawed payment. Borrower shall promptly furnish t o .tender all notices of amounts to be paid under this paragraph. If Borrower makes these psytr ews directly, Borrower shall promptly furnish to Lender i neaiptsevidencing 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 the lien in a manner acceptable to Lender; (b) contests in good faith the lien by. or defends against enforcement of the lien in, leptA proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of 0- -- Property; or (c) secures from the holder of the lien an agreement satisfactory to Lander subordinating the lien to this Security Instrument. If lender determina that any part of I the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lies. Borrower "I satisfy the lien or hake one or more of the actions set forth above within 10 days = ofthe giving oi'notice. S. I> W4A Inwraate. Borrower shall keep the improvements now existing ar hereafter erected on the Property insured age-- 1'— byy tint. hazards included within the term "extended coverage" and any ether War& for which Lender requires insurance. 7f"iris inartrance shall be maintained in the amounts and for the perinds that Lender requires. The insurance carria providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably wa hheld. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender i all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notwe to the insurance carrier and Lender Lender may make proof of loss if not made promptly by Borrower. Unlg4 Lender and Borrower otherw•iseagree in writing, insurance proceeds shall hs applied to reworation or repair of the Prorma.q- ohimaged. if the restonatiors or repair is economically feasible and Lender'sA ,wurity i% not lessened. If the rtxtoration or vgvair is not economically feasible or Lender's security would be lessened, Ow insurance proceeds shall be –_ applied to the sutras secured by this Security Instrument, whether or not then due, with any excess pad to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice Fn• m 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 6 given. Unless Lender and Borrower oherwise agree m writing. any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referrtn3 to in paragraphs 1 and 2 cw change the amount 44 the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance Inheres and Proceeds rc%ultina tram damage to tine Property prior to The acquisition shall puss, to Lender to the extent of the Bunn saured by this Secunty Instrument immediately prior to the acquisition. C Pt'searvatilats W Mdognautothoperty; Lsasdwlda. Borrower shall not desire), damage or substantially change the may. &Ww the Property to deteriorate or commit waste. If this 5ecunty Instrument n on a leasehold. Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and fee title shall not merge uaakso Lender agrees to the merger in writing. _ 7. Proteetion of Larder's Bets in the Property; Mortgage Insurance. It Borroscr fail% to perform the covenants and agreements contained in this security Instrument, or there is a legal proceeding that tray etgnificantly affect Lender's rights in the Property (such as a proceeding in twihiupic). probate, for condemnation or to enforce law% or regulations), then Lender nay do end pay for whatever is necessary to protect the s alue of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a hen which has pnonq user this Sevurrty Instrument, appearing in court. paying reasonable attorneys fees and entering on the Property to make repatn Although Lender may take action under this paragraph 7. Lender does not have to do %o Any amounts disbursed by Lender under this paragraph 7 shall hcti(nne addtttonal debt of Borrower . -murtd h% t his Security Instrument. Unless Borrower and Lender agree to other terms of pa) mint, thew ainomm shall hear urtcreM front t• the date of disbursement at the Nate rate and shall he pa)at►le. with mtertm. upwin nutwe from I ender to liurruwcr requating payment.