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ri F 90- 105451 UNIMMM COVRN^Pn i Borrower and Lender covenant and agree as follows: I. RIyrM■1 of FrbWPd ad 42111111111111 PraroyatMOt OW Lab Cbargiea. Botrowar shall promptly pay when due the prindpal of and Wariest on the debt evidenced by the Note and any prepayment and late charges due under the Note. I Vitals IbrTatm mall twt11ranee. Subject to applicable low or toe written waiver by Lender, Borrower shall pay to Dander on the day monthly payments are due under the Note. until the Note is paid in full. a sum ( "Funds ") equal to oewtwWM of: (a} yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly kasabold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly mortgages insurance preitlum if any. These items are called "escrow items." Lender may estimate the Funds due on the bubofeurrent dataand reasonable estimates offuture 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 sgatcy (including I.att3er if' Lemader is such = institution). Lender shall apply the Funds to pay the escrow iteta& Leader may toot charge for holding atad applying the Fwdds. analyzing the account or verifying the escrow items, usaka Header pays Borrower interest an the Fuads and applicable law permits Lender to matte such a charge. Borrower and Lander may agree in writhe fiat interest shall be paid at the Funds. Unless an agreement is made or applicable law nquites Wang to be paid, L.eatter shall am be required to pay Borrower any interest or earnings on the Funds. Lender sW give to Beirower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Fu de was made. The Funds are pledged as additional security for the sums secured by this Security to str i smdnnt. Uthe amount of the Funds held by Leader. together with the future monthly payments of Funds payable prior to the due data of the escrow item. shall exceed the amount required to pay the escrow items when due. the excess shall be, at Borrowees option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the sanoant of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender any astount necessary to makes up the debcieticy in one or more payments as required by Lender. Upon payment in mall of all sums secured by ibis Security Instrummt, Lender shall promptly refund to Borrower any Funds held by Lenddx:•. llf under paragraph 19 the Property is sold or acelutred by Lender, Lender shall apply. no later than immediately priott to the sale of the Property or its acquisition by l awkr, any Funds held bi, Lender at the time of application u a credit spinet the soma scoured by this Smunty Instrument. g. Apylk shim of PsyaaaiatL Unless applicable law prruules otherwise. all pvt meets received by Lender under parttgraphs 1 and 2 shall be applied: first, to late charges due rrri&r the Nate; second, to prepayment charges due under the W te; third. to amounts payable under paragraph 2; fourth. to interest due; and last, to principal due. d. ChorM L low Borrower shall pay al0 ¢axm assessments, charges, fines and impositions attributable to the Property which may attain piority, over this Security Instrument, and leasehold PAF- -rents or ground rents, if any. Borrower shall pay that obligations in the manner provided in paragraph 2. or if not paid in that manner, Borrower shall pay them on time directly to the pennon owed payment. Borrower shall promptly furnish to Le►ider all notices of amounts to be pokl under this paragraph. If Borrower make these payments directly, Borrower shall promptly furnish to Lander reodpts evidencing the payments. ' Borrower shall promptly diwhw$e any lien which has priority over this Security Imtrumert unless Borrower: (a) agrees in wrldng to the payment of the obligation secured by tht lien in a manner acceptxhk v Lenders (b) i ontets in good .f*b the lien by, or defends sgainat enforcement of the lien in, legal proceedings which 'an Ae Lenlef s oMnion operate to pievent the enforcement oribe lien or forfeiture of any part of the Property; or (c) sec its from the hotder of the lien an sp;neernett satisfactory, to lender subordinating the lien to this Security Instrument. If Lender detertni nes that any pan of the Property is subject to a lien which may attain priority over this Security Instrurnesit. Lender tray give Borrower a notion identifying the lien. Borrower shall satisfy the lien or take one or more of the sctw.i set forth above within 10 days oftmilivingdnotioe. S. Hazard Immatsaoa. Borrower shall keep the improvements now existing or ,rat: w(ter ti-wed on the Property insured against less by dire. (hazards included within the term "extended covetap "' and ace.? alter hazards for which Lender ngoi11s aaaraaoe. This.itosuntninoe shatll be maintained in the amounts and! for this gwni ads tlwr Lender requires. The iasurem carrier providing the insurarroe shall be chosen by Borrower subject to LwAat;r"t 'approval which shall not be unreasonably witbadd. AU hutanlace polida and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lander shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of pale! premiums and renewal notices. In the event of loom. Borrower shall gist prompt notice to the insurance carrier std Leader. Lender may retake proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or repair of the Property damaged. if the restoration or repair is economically feasible and lender's security is not lessened. If the 11atakwadon or repair is not economically feasible or Lender's security would be lessened. the insurance proceeds shall be applied to the suns secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Bat or absndons the Property, or does not answer within 30 days a notice from Lender that the insurance earner has A M to unk a claim. then L TAer may collect the insurance proceeds. Lender may use the proceeds to repair or restore tie Property or to pay swan secured by the Security Instrument, whether or not then due. The 30-day period will begin %abate dw mod= is Rivets. Unlene Letiderand Bor*orer otherwise agree in writing, any application of proceeds to principal shall not extend or postpone theduedetto(dw monthly payments referred tau in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to an) insurance policies and pnx;eeds resulting fi+ont damage to the Property prior to the acquisition shell pass to (.ender to the extent of the sums secured by this Security itasuaisasm WAsediatdy prior to the acquisition. C Pre11srvMisw=d MW@&narnee of Properkt Iw wbolds. Borrower shall mit destro), damage or substantially changes the Property, allow the Property to deteriorate or commit waste If thn Sri wrlwy Instrument is on a leasehold. Borrower shall comply with the provisions of the lease, and if Wwrower acquirers Oor tattle « -(l the Property, the hawhold and ins title shall not merge unless tender agrees to the merger in w hung 7. Pi iIsedotn of Leader's Rights la eves PMesrirxitlr. Mangler tasaraaee. If Boirro%er fails to perform the oawasants std sgnemmsits cwAawW w this Sec-norrp instrument. or there via kS*1 proceeding that may sign& -antly affect Leader's rights in the lhoperty fourth as a proceeding in bankruptcy, probate, fcw condemnation or to enforce laws or tqutations). theta l.eadkr awy doat+tt pay for whatever is necessay to laoteei the s slur of the Property and Lender's rights in the Property. Larder's scrociioi may include paying any sums secured by a lien a-hich has pnont) user this Secunt) laetruiam, apponag in court. paying reasornable attorneys fees and entenng vn the Property to make repair. Although Deader array take action under this paragraph 7, tender deice not ha s e to do sit Any amounts disbursed by Lender under this paragraph 7 %.hall become additional dehi of lkorroser secured by this Security Instrument. Unless Borrower and Lender agree to other term,. of ps) ment, these atnount% %hall hear interest from On date of disbursement at the Note rate and %hall he pa%at►le, wiih tnicre%i, ut%,n nru.r (torn tender to Iktrrower requesting payment. h r ..J t