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VNIFOkMCOVENANIS Borrower and Lender cinenant and agree ttc x+Va`""' 103383
<br />1. Payowat of Principal turd Interest; Prepayment and Late Charws. Ikirrtiwer shall promptly pay when dui-
<br />the principal of and interest on the debt evidenced by the Note and tiny prepayment and late charges clue under file Nate.
<br />2. tutit{s far Taxes atwl lriaatatrtee. Subject to applicable law or toll written wuiv cr by 1 miler, litotrower shall pay
<br />to Lender on the day monthly psymente are due under the Note, until the Niue is pat ill in fall, it mini (" F'wtds") equal to
<br />cute - twelfth of to) yearly taxes and asseuments which may attsui priority- over this Secunty Instrument; (b) yearly
<br />lessehold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />nwrtgage insurance premiums, if any. Them items are called "escrow items." Lender may estimate the Funds due on the
<br />balms ofcurrent data and rea+tottabk estimates of future escrow items.
<br />The Fund% 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 />Leader 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 he 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 />shalt 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 shall 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 pay the escrow items when due, Borrower shall pay to Lender any
<br />amount necessary to make 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 to Borrower
<br />any Fonds held by Lender. If under paragraph 19 the Property is sold or acquired 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 />applicationasacredit against thesum%secured by this Security Instrument.
<br />3. Applieadoa of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 aitd 2 shall be applied: first, to late charges due under the Note; second. to-prepayment charges due under the
<br />Note; third. to amounts payabk under paragraph 2; fourth, to interest due; and last, to•principal due.
<br />4. Cbergm Lieaa. Borrower shall pay all taxes, assessments. chages, fink and impositions attributable to the
<br />property which may axtain priority _ over this Security Instrument, and Pcisehold payments or ground rents, if any.
<br />9orrower trihall pay these obligations in the manner provided in paragraph 2. or if not paid in that manner, Borrower shall
<br />pay cheer, peas time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to he paid, Vnder 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 Neste which has priority over this Security Instrument unless Borrower: (a)
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<br />to a.s lit wataaa ear a.•a. Iw „writ in a »v •...di .to:s:,w..v.w v :..►' .: :n r' --
<br />faith the lien by. or defends against enforce�ment'of the lien in, legal proceedings which in the Lender's opinion operate of
<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
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property is subject: to a lien which may semen priority over this Security Instrumenr, Lencier may give Borrower a
<br />notice identifying the, Jiert. Borrower shall satisljo thielien or take one or nuire of the actions set forth. above within 10 days
<br />of the giving of notice:
<br />S. "Nasar+i Insurance. Irti'cim3 wer shall keep the impr avements now existinf or hereafter erected on the Property
<br />inured against loss by fire. hazards.imrlirded within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance Shall be malmained in the amounts and for the'periods that Lender requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall he acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hoed the policies..and renewals. If Lender requires. IlvrmiWer shall promptly give to Lender
<br />all receipts of paid premiums and renewal ndUwti. In the event of loss, litirrewer i }h& give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof orl ass if not made promptly by,la irrowes.. • .
<br />Unless Lender and Borrower otherwise'agree in writing, insurance ptoceeds shall be applied to restoration or repair
<br />of the FWpeny 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 les m d. the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument. whether 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 />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Secunty Instrument, whether or not then due. The 30-day period will begin
<br />when the notice is given.
<br />Unle« 1.4ncter anti Borrower mherwiw 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 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 insurance policies and proceeds resulting
<br />(torn damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition
<br />6. Preservation wW Maiatenauce of Property; Leaseholds. Borrower %hall not destroy, damage or substantially
<br />change the Property, allow the Property to deteriorate or commit waste. if this Security Instrument is on a leawhold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and
<br />f+:c title shall not merge unless Lenderagrees to the merger in writing.
<br />7. Protection of Leader's Rights in the Property: Mortgage Insurance. If Borrower fails it) perform the
<br />covenants and agreements contained in this Secttrtty instrument. or there i% a legal proceeding that may •ignificantl} affect
<br />Center'% rights in the Property (such as a proceeding in bankruptcy, probate, for condenmatinn or in enforce la%% or
<br />regulations), then Lender may dri and pay fnt whatever is necessary to protect the %aluc of the Property anti i ender", rights
<br />in the Property Lencder'% avittats ma) include paying any sums secured b) a lieu which has priority otcr iht% Se-curit)
<br />Instrument. appearing in court. paying reasonable attorneys` fees and entering on the Propert) to make repairs Although
<br />Lender may take random under this pal,rgraph 7. Lender dnt's-not have to do set.
<br />Any aninantc dtaruraed by bender anderfhis paragraph 7 shall become addtnonal dcht of Furrow er secured hi this
<br />Security Instrupeni Unte.s liorrnacr :ant! t_erider agree tot other terms of payment, these atnottnts. hall hear interco ft ,m
<br />the date i,f d ;sbur;rrnent at the %; -Itr r-te ,ind shall he payahlc, with interest. urott nl!tt ;r fn+ni I..cndcr to 1I.-trm-ter
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