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UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 90--- 105381
<br />1. Paytt&aat of Prflaefptal and Intaraa4 Ptrgmyttteftit and sates Ckenas. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and Isle charges due under the Note.
<br />2. Funds for Taxes and Imarasee. 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 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 ofeurrent 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 />Ltmider 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 writing that interest shall be paid on the Funds. Unks& an agreement is made or applicable law
<br />reiyuires interest to be paid. Lender shall toot be required to pay Borrower &nay interest or earnings on the Funds. Lender
<br />shall give to Borrower. without charge, an annual accounting of the Funds. -bowing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds wawmade. The Funds are pledged as additional security for the sums secured by
<br />this sec"Aty Instrugtenl•
<br />If ft s"'nf of tble Funds held b�0 1[44P er, together with the furasre monthly payments of Funds payable prior to
<br />the due dates of the a mew items, a411 exceeu� !the amount required to pas- the escrow items wlwn due, the excess shall be.
<br />at Borrower's option, eieher prop. pzly repaid to Borrower or credited to - DotroweT art monthly payramts of Funds. If the
<br />amount ofrthe Funds held by Lenuerr is not sufficient to pay the escrow items when ,due, Borrower shall pay to Lender any
<br />amount inecessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums wurrd by this Security Instrument. Lender shall promptly reNud to Borrower
<br />any Funds held by Lender. If under paragragp" 19 the Property is sold w acquired by Lender, D tajer shall ;tWy. 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 sums secured by this Securii% Instrument.
<br />& Application of Payettat m Unless applicable law provides otherwise, all payments received by Lender under
<br />peragraphs 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 principal due.
<br />4. Chareim [Amm. Borrower shall pay all taxes, assessments, ct,,jrgcs, fines and impositions attributable to the
<br />Property which may attain priori ry over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower %hill pay these obligai lom in the manner provided to paragraph 2, or if not paid in that manner, Wirrower shall f
<br />pay than on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices 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.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)v
<br />agrees in writing to the payment oP tl*e obligation secured by the lien in a manner acceptable to Lender; (b) conte4ts 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
<br />prevent the enforceme red of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactary to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property is subject Zo a lien which may attain priority over this Secuvety Instrument. Lender may give ldnrrower a
<br />notice idoatifying the lien. Borrower : {hall satisfy the lien or take one or enure of the tic nons set forth above with m 10 days
<br />of the giai,tgg e>Fnotice.
<br />S. Haggard lonarance. Borrower shall keep the improvements rw -jw existing or hereafter erected on the Property
<br />insured against ens by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires ,irsurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the invu-t ice 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 raghl to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of kiss. Borrower Shull dive prompt notice to the insurance
<br />carrier we'd Lender. Lender may cast prouf of lots if not made promptly by Borrower.
<br />t iu ks& Lender and Borrower-otherwise agree in writing, insurance proceeds %hall he applied to restoration or repair
<br />of the Property damsged, if the restoration or repair is economically feasible and lenders security is not lessened. If the {
<br />restoration or repair iK riot economically feasible or Lender's security would he le-i►%ened, the moiwFance proceeds shall be
<br />applied to the sums sec,ared by this Security Instrument. whether or non when due, with any exit o paid io Borrower If
<br />Borrower ,a'handcins the Property., or dues not answer within V clays a itmice froin I ruder that the imuraancr carrier has
<br />offered to •vettk a claim. then Lewder may collect the insurance mrtweW-4. lender mai.:rw the proceeds to reprtr or restore
<br />the Property or to.p aF sums secured by this Security Instrument, whev her or not liken due The 44•day period will begin
<br />when the notice is gc%e m.
<br />Unless Lender and Borrower otherwise agree in writing, any app 1;,.w:;,vj of proceeds to p+reneipal shall not extend or
<br />postpone the duedate e( the turiisehly payments referred to in paragraphs t and 2 or +t rtange the amount of the payment% If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right %.o Jny i0 4WWIVe roolicies and Ort eeth te,uuane
<br />from damage to at hoperty prior to the acagrusitt.in shadl pass to Lender to the extent of the %utna+aerarcd by this Securni y
<br />Instrument imme dsatcly prior to the acquiswson
<br />46 Ptarertratbn sad Maiatasaaaca of Pt arlyi haesliofdii, Burrower %hall not de%trti), damatte or substanitally
<br />change the Property, allow the Property to deteriorate or commit waste If this 1ciurtty Instrument t% on a leasehold,
<br />Borrower shall comply with the pm%isiotts of the lease, and if Borrower acywres fee title to the Property, t he leasehokf and
<br />fee title shall not merge unless Lender agrees to the merger in w nung
<br />7. Ptroteetioa of Leader's Riots in lee Property; Mortgage Insunum. If Borrower fail% to perform the
<br />covenants and agreemeniscuntamed in this Sevurit) Instrument. or there i%;& legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a pro.ccdmg in bankruptcy, probate, for condemnation or 1+1, enforce law% tie
<br />regulaticxu). then Lender may du and pay fior whatever is ntticssrry to protect the %slue of the Property and l ender'% right%
<br />in the Property. Lender's actions may include paying any sum% secured by a hen which ha% proont) o%er thi% sierurny
<br />Instrument. appearing in scion. ps)mg reasonable attarriey%' fem and entering on the Proprt ty to make repairs Although
<br />Lender may take action under this paragraph 7, tttider does nor ha%e hr do V%
<br />Any anuwntsdisbursed by Lender under this paragraph 7 %hall Become additional debt + +f iiorrimer %e. ured M i hr%
<br />Security Instrument. ltnieax Borrower and Lender agree to tither term%t4pa)ntent. ncc%e ,tna.+unt% %hall hoer uNere%i fr +.m
<br />the date of disbursement at the Nole rite and %hall he pd)Arilc, with ,,I ' t, up,m n.•h.r tnmi 1 rn.urr n+ Fl+ +rrtiwar
<br />requcstint paYn�t • --
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