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LI r UNIFORM COVENANTS Borrower and Lender covenant and agree us follows 89- 103 1. Paymat of Principal and interest; Prepaytereal attd late Charges. ilorrowcr shall prompt y pay w n uc the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Von& for Taxes sad Insurance. 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 Nate is paid in full, a sum ( "Funds ") equal to one-twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly leasehold 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 caned "escrow items." Lender may estimate the Funds due on the basis of current data and reasonable estimates 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 state agency (including Lender if lender is such an institution). Lender shall apply the Funds to pay the escrow items. 1Lettder may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pays Borrower interest an 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. Lads shall anon be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Bomrntfd Without rat atgt. stn all niW accounting of the Funds showing credits and debits to the Funds and the purpdtase for which each debit to thie Funds was made. The Funds are pledged as additional security for the sums secured by this Samrity Instrument. If the amount of the Funds held by Lender, togetba r with the future monthly payments of Funds pap oble prior to the due dates of the escrow items, shall exceed the amoutoR required to pay the escrow items when due, the excess shall be, at Borrower's option. either promptly repaid to Borrower 6r credited to Borrower on monthly payments of Funds. if the amouvAmf the Funds held by Leader is not sufficient to pey the escrow items when. due. Borrower shall pay to, Lender any amount necessary to make up the c14Lkiency in one oi' mars payments as required by lender. Vpon payment in full of ill sorts secured by this Sumrity Instrument. Lender shall promptly refund:- to, Borrower any Funds held by Lender. if under paragraph -19 the Property is sold or acquired l+y Lender, Lender shall ipply, no later than imttaediatcly geir�is to the sale of the P +-, eMty or its acquisition by h.d;lade T. any Funds held by Lender at the time of application as acrd ragainsttlr��nssecuredbythisSecuritylnstruni rat. 3. AN1it�advis of PaY1114e ln. Unless applicable laity provides otherwise.. atl payments received by Lender under paragraphs 1 and 2 ;gl>all be applied: first, to late chargers due under the Note; second, to prepayment cfratges due under the Note; third, to amutrns payable under paragraph 2; fourth, to interest due; and last, to principal dune.. 4. �7tarPK LSML Borrower shall ;,w}: iJt taxes. assessments„ charges, fin and icen{grc►sii¢4a,tus attributable to the Property which may, attain priority over this Security Instrument, and leasehold payments or gmurd• rents. if any. Bortowtr.shall pay these obligations in the manner provided in paragraph 2. or if not paid in that mantim. tkivrower shall pay them on time directly to the person owed payment. Borrower shall promptly fumish to Lender all notices of amounts to be paid under this paragraph. if Borrower makes these payments directly. Borrower shall promptly furnish to Lender receipts evidencing the payments : W .. .;., „�• nri . u hi Reu[itV Instrument IllleCSS ]Borrower: (a) i<, pa_ pj v__aw� ., . -•. —.— — a.t agtees in writing to the payment of the obligation secured by the lien in a mantret *Avptabte to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any pan of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security instrument. if Lender determines thai any pas i of the Property is subject to a lien which may attain priority over this Security instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the [ten or take one or more of the actions set forth above within 10 days of the giving of notice. S. Havard lastarsace. Borivaw.etr shall keep the Improvements now existing.or hereafter erected on the Property insured against Ion by fare, hazards include.within the.term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shale bxr ra*intainead in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance :shali be chdasan by Borrower subject to Under's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and sh21I include a standard movtgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly gi%c to Lender all receipts of paid premiums and renewal notices. in the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Bowjwer otherwise agree in writing, insurance proceeds-shall be applied to recto. mlion or repair of the Property damaged, if the restoration or repair is ft- onomically feasible and Lender's security is not.lessened. if the restoration or repair is not economically feasible or Lender's security would be lessened. the insurance proceeds shall be applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. if Borrower abandons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has oFered4o settle a claim. then Lander may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to say sums secured by this Security instrument. whether or not then due. The 30-day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Properiv is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security instrument immediately prior to the acquisition 0. prtserTation sad %Maintenance of Property; i.easebolds. Borrower shall not destroy, damage or substantially change the Property. allow the Property to deteriorate or commit waste. If this Security instrument is on a Icaehold. Borrower shall comply" with the provisions of the lease. and if Borrower acquires foe title to the Property. the leasehold and fee title shall not merge unless Lender agmes to the merger to writing. 7. PrekwtWa of Leader's Rights in the Property: NfortgW Iesurartce. If Borrower fall. to perform the covmants and agreements contained in this Security instrument. or there as a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in hanktuptcy. protiate. for condemnation or to enforce law. kit regulations), then Lender may do and pay for whatever as necessary to protect the %aloe of the Property and Lender's right s in the Property Lender's aztions may Include paying any sums wcured Hy s Itta %htch has pnnrit} owr this Sccunty lt►strumml. a"ring an court, paying reasonable attorneys' fees and entering on the Property act M eke rep.nrs Although Lender may take aciton under rtils paragraph'. Lender does not ha, a to do 4r. Any amounts diitwr%cdlb) Lender under thls paragraph T shAl nck.1— addttu+nal debt of Flrrr.,wcr �c;arcii h. 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