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89--.= 103488 UN1FCl M COVENANTS. Borrower ant! Lender covenant and a*ree as follows: 1. POV" st Priaelgal am Istareu; Proyaytaeat and Late Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Foods ter Taxes said l aarasee. 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 Note is paid in 114% a such ( "Funds") equal to one-twelfth of (a) yearly taxes and assessments which may attain priority over this Security instrument; (b) yearly iesebtild payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance pta■duats. if any. Tisse items are called "escrow items." Lender may estimate the Fuoda due on the basis ofcarreat "and ressouable estimates of future ncrow items. The Funds shall be hdd in an institution the deposits or accounts of which are insured or guaranteed by a federal or tuft agency (iaidttdip leader if Larder is such an institution). Lender shall apply the Funds to pay the escrow items. Loader way sot charge for holding and applying the Funds, auatyzing the account or verifying the escrow items, unless Lander pays Borrower imerat em the Funds and applicable law permits Lender to make such a charge. Borrower and Leader may agree in writing that interest shall be paid on the Futtds. Unless an agreement is made or applicable law requires interest to be paid. Leenda shall not be required to pay Borrower any interest or earniap on the Funds. Fender null give to Borrower. without charge. an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by "Security liamusaent. If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior t. the due data of the escrow items. shall exceed the atti<oatnt required to pay the escrow items when due: the excess shall be, .coot borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly paymenu of Funds. If the atseamt of the Funds held by Lender is not sufficient to pay the escrow items when doe. Borrower shall pay to Lender any aastunt neeauary to make up the deficiency in one or more payments as required by Lender. Upon payment in full of all sums secured by this Security Instrument, lender shall promptly refund to Borrower any Funds held by Lender. if under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. & A"NeMias of Pq►msaes. Unkss applicable law provides otherwise, all payments received by Lender under paragraphs I and 2 shaU be applied: AM to late chwin due under the Note•. swend. to prepayment charges due under the Note; third. to amounts payable under paragraph 2. fborth. to interest due, and Wit. to principal due. 4. Cltsimas; Ekes. Borrower shall pay all axes, asses atents, chaMm fines awl Impositions, attributable to the Property which may attain priority,ouc+er this Security Insinwitnt, and leasehold paymWJ3 or ground ren% if any. borrower shall pay these obliptions in the marow-rwitided in pafagraph 2. or if not paid its that manner. Borrower shall Vey them on time directly to the perwn owed paywepL Borrowes shall promptly kitmish to Lender all notices of amounts to be paid under this Paragraph. If Borrower makes threat payments directly: Borrower shall promptly furnish to Lender retxipeseridepcin the payments. 111fetYwple flint *fnn�tMiv difrkfr� w» y limn �hiw�h k� x w��e�erit� newt th�a Gr,1ri V Ina nu»wnt stater: Aewgswrm- !w� apm in wtitiitggto the Payment of the Agstion secured by the Inn in a manner acceptable to Lender, (b) contests in good faith this lira by; or dcfeada yainat enforcement of the lien in. legal procaedimp which in the Lender's opinion operate to Wiens thee ear_+ram—m t eta lien or forfW:a.c of=j part of tb,-. Pmpe y, cr (4), t�.at.— frmn the.14-Wa of ;le lien an ag amietst satisfactory to Lender aubordinatiag the lien to this Security lttstrutimt. If Lender detemin s, that any past of the Property is =bject to a lien which man ' , an, = priority over this Security instrument„ lender may give Borrowtr a notice k aatityiaegthe lien. Borrower sU U satisfy ttte lien or take one or more of the actions set forth above within 10 days of the suing e�ruotice. . 3. arts taswaaee. Borrower shU, trap the improvements now t*s dng or hereafter erectext.on the Property Want agaiia >:loss by Arc, hazards imbided within the terra "extended coverape"'and any other hazards for which Lender requires insistence. This insurance be maintained in the amounts and for the periods that Lender requires. The iawraaoe carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shalt not be war�satoaabtg widuhedd. - All insurance policies and renews4 shall be acceptable to Lender ar4 sh&U include a standard trlortgage c4m Lttndar shall have the right to hold the policies sad renewair. U Lender requites; lormwer shall promptly give to Law" all reoonipta of paid premiums and renewaknotioes. In the evert of kiss. Borrower shall give prompt notice to the insoustmoe carrier sad Leader. Lender may make proeaf of loss if not shade promptly by Borrower. Unless Lender and Borrower aherwise agree in writin& 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 restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shaU be applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. If Dornower allaaido the Property, or does not answer within 30dwys a notice from Lender that the insurance carricc has atered to settle a claim. them Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore tuts Property or to pay sums secured by this Security Isstrwnett. whether or not then due. The 304sy period will been wheat the am is gives. Unless Lender and Borrower otherwise agree m writing. any application of proeeedts to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs k and 2 or chanp the amount of the psyme ttts. If under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting thwa dawtge to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security ltnsnusi nt immediately prior to the acquisition. S. room WaHeai sell Matatewww of Ptepe N LesedoUs. Borrower shall not destroy. damage or substantially chmp the Property. allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold. Sorrower shell comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and fde title shaU not merge unless Lender agrees to the merger in writing. 7. PrsMetias at Leadtte's Rights in the Property; Mott~ Iaatrence. If Borrower fails to perform the covenants and agreements contained in this Secunty Instrument, or there is a legal proceeding that may significantly affect Leader's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or to enforce paws or regulations), then Lender may do and pay for whatever is neoessary to protect the value of the Property and Lender's rights is the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Isstrwaest, appearing in covet, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Leader away take action under this paragraph 7. Lender does not have to do so Any amounts dWmned by Lender under this paragraph 7 shall become additional debt of borrower secured by this ,u Secunty Instrument. Unless Sormwer and Lender agree to other terms of payment. these amounts shall bear interest from the date of dAburseme„t at the Note rate and shall be r3yatole. with interest. upon notice from Lender to Borrower requesting payrpsent. TM �l