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<br />UNiR)RM COVFNANTS Borrower and Lender covenant and agree as follows:
<br />I. Paytneat 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 late
<br />prepayment and charges due under the Note.
<br />2. Funds for Tax" and Insurance. Subject to applicable law or ton written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are dut under the Note, Note ")
<br />until the 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) yewly
<br />leasehold payments or ground rents on the Property, if
<br />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 />beeb 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 />Leader may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be paid, 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 the Funds held by Lender, together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items. shall exceed the amount required to pay the escrow items when due, the excess shalt be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held.by Lender is not sufficient to the escrow items due.
<br />pay when Borrower shall, pay to• Lender any
<br />amount necessary to matte up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument; Lender shall promptly refund. tar Borrower
<br />any Funds held by Lender. If under para"ph 19 the Property is sold or acgvked. by-.Lender, Lender shall apply. no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds.held by Lender at the time of
<br />application as a credit against the sumsecured by this Security Instrument.
<br />3, Applieatloa of Payints. ' Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 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 payable under paragraph 2; fourth, to interest due; and last. to pritccipsal due.
<br />4• C%arm Llaw Borrower shall pay all taxes, assessments. charges, fines and impositions attributabQe to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
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<br />SaTower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay., them on time directly to the person owed payment. Borrower shall furnish Lender
<br />promptly to alt ipotit:es of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
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<br />Borrower shall promptly discharge any lien which has priority over this Security InauumA_ri*_. unless Borrower
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<br />y of Met: �b[irgatioe secured by the lien in a manner acc eptsblc tof Leader;, (b) contests in good
<br />faith the lien by. or defends against edoacement of the lien in, kgal proceedings which its the Lender's opinion operate to
<br />prevent the enforcement of the lien QP foo-feiture of my p~st of the ..
<br />Property; or (c) sc:.dTc, from the I4vcaea'.of the lire an
<br />agreement satisfactory to Lender subotdinating the lien to this Security Instrument. If Lender determinestha3 a of
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<br />part
<br />the Property is subject to alien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy t he li".en or take one or more of the actions set forth above within 10 days
<br />ofthe giving of notice.
<br />S. Hazard Insurance. '-Borrower shall keep the improve' ents tiow'e ds€ing or hereafter erected on the Property
<br />insured against loss by fire, *anids irichided within the term "extended coverage': and any other hazards for which Lender
<br />requires insurance. This insurance shall. be maintained in the amounts and. `for the periods that Lender requires. The
<br />insurance carrier providing the ,itrsuirahce shall be chosen by Borrower subject to Lender's
<br />unreasonably withheld. approval which shall not be
<br />All insurance polides'and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Larder shall halm the right to hold the Wlicies and renewals. If Lender requires, Borr4wea
<br />shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower 4W, g"Lvip prompt notice to the insurance
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<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance
<br />;as:
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<br />proceeds shall be applied to-restoration or repair
<br />Of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not 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 Instruttiern. whether
<br />or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />08erod to settle a claim, then Lender may collect the insurance
<br />proceeds. Lender may use the proceeds to repair or restore
<br />the Property 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 not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the alnount
<br />of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Boffowees right to any insurance policies and proceeds resulting
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<br />from damage to the Property prior to the acquisition shall to Lender
<br />pass to the extent the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />f. Prewwation and Maintenance of properly, Leaseholds. Borrower shall not destroy. damage or substantially,
<br />change the Property, allow the Property to deteriorate
<br />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 Properly, 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 agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />Lender's
<br />rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />regulations). then Lender may do and pay for whatever is necessary to
<br />protect the value of the Property and Lender's rights
<br />L in 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. paying rasnnable
<br />attorneys' fees and entering on the Property to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this��
<br />Security Instrument. Unless Borrow& and Lender agree to
<br />other terms of payment, these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable, with intcrc;t, upon notice from Lender to Borrower
<br />requesting
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<br />payment. r
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