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89 * 103843 UNIFORM COVENAWS. Borrower and Lender covenant and agree as follows: I. Paytmssat of PriaciMl Oral Interest; Prepsymeat 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. Fwmb for Taxes sail lasttreaee. 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 full, a sum ('Funds") equal to one-twelfth of (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly hssebofd payments or growl rents on the Property. if any; (c) yearly haurd insurance premiums; and (d) yearly mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the basis of eurtent 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 Leader if Lender is such an institutim). Lender shall apply the Funds to pay the escrow items. Larder may not charge for holding and applying the Fundso analyging the account or verifying tilt escrow items, unka Larder pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Larder may agree in writing that interest shall be paid err the Funds. Unless an agreement is made or applicable bw requires interest to be paid,, Lewder shall no be required to pay Borrower any, interest or earnings on the Fttp& Lender shah give to Borrower., without csilarge. an annual acaoun ft of the Funds showing credits and debits to the Fwntb and the purpose for which eub:debit to the Funds was remade. The Funds are pledged as additional soeurityl for the sutras secured by this Snarly Iris ra==t - tttbe amount of the Funds held by Lender, together with the future moattttYt payments of Funds payable prior to the due dates of the escrow items,: shall exceed the amount required to pay the arnuvs items when due, the excess shall be. at Borrower's option, either prey ply repaid to Borrower or credited to- Borrimec air:• monthly payments of Funds. If the amount of the Funds held by I a�deris not s math to pay the escrow ilmis when due. Boren shall pay to Lender any amount asoesssry to make up the deficiency m=e or more payments as required by Lender. Upon payment in full of all sums weaned 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 Leader at the time of application s a credit -pint the sums secured by this Security Instrument. 3. Appiieollea of Pay Unless applicable law provides otlernise, all payments received by Loader under paragraphs 1 said 2 slpW be applied: tlr'<1, to Iste charges due under the Note; second, to prepayment charges due under the Note; third, toamow=payablit under paragraph 2; founkto interest due; and las4 Coprincipal due. d. (berasr bola. Boomer shall pay, all taxes; assessments, charges. Iti s and impositions attributable to the Property which may attain priority, ova chic Security Instrument, and leasehold payments or ground rents, if any. Bosrowei shall pay throe obligations in the manner provided in paragraph 2. or if not paid in that manner. Borrower shall pay them on time directly to the person owed payment. Borrower sbW promptly furnish to Lender all notices of amounts to be paid under this parapaph. U Borrower makes these payments directly. Borrower shall promptly furnish to Lender Borrower shell promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obtiption secured by the lieu in a manner acceptable to Lender, (b) contests in good faith the lien by. or ddards against enforcement of the lien in. kph prozeedmnp which in the Lender's opinion operate to 1"" =""t the «.r-- 1—W" ,+t of the lien air forfeit±.,. of sry part of tabe :-ropmy; or (c) secures from the holder of the lien an age ameat satisfactaay to Lander subordinating the lien to this Security Instrument:. if Lender determines Wt. any put of the Property is subject to a lien which may attain priority over this Security IngrAment, Lender may give Borrower a notice identifying tbtetsen. Borrower shall satisfy the lien or take one or 'som oft• pt actions set forth above within 10 days of the giving of notice S. Healyd lusra■oe. Borrower shall keep the improvements now existingor hereafter erected cc the Property insured against loss by fire, hazards included within the term. - "extended coverage' and any other haurds for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be as elubk to Lender and sWL include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. H Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of less. Borrower $ball give prompt notice to the insurance carrier and L, ender. Lenncla nay make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or repair of the Property damaged. if the restoration or repair is economically feasible and Lender's security is not lessened. If the Mtoratiort.of repair is not economically feasible or Lender'$ security would be lessened, the insurance proceeds shall be applied to the tugs 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 otkred to settle a claim. then Lender may collect the insurance proceeds. Lender nay use the proceeds to repair or restore the Property or to pay sums secured by this Security Irmrumrent. whether or not then due. The 30-day period will begin when the notice a Siren. Unless Lender and Borrower otherwise spa in writing, any application of proceeds to principal shall not extend or postpone Ilse due date of the monthly psyments referred to in paragraphs i and 2 or change the amount of the payments. If I nder paragraph 19 the Property is acquired by Leader. 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 imi nedistely prior to the acquisition. i. fl'rssarsadm and 2Nai■teaaate of PtroMip; Leaseboida, Borrower shall not destroy. damage or substantially change the Property. allow the Property to deteriorate or cancan it waste. If this Security instrument is on a leasehold. Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Property, the leasehold and fee tick shall not merge unless Ltrider agrees to the merger in writing. 7. Protection of LesdWs *400 in the Property; Mortgow itntiraace. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property Ouch as a proceeding in bankruptcy. probate, for condemnation or to enforce laws or L regulations). then Lender may do and pay for whatever is necessary to pr(Hect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appeanng in court, paying reasonable attorneys' fees and entering on the Property to make repairs Although !.ender may take action under this paragraph 7. Lender does not hate to do so Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Securty Irs-i'muirci,i Uriless Fiorrower and Lender agree to other terms of payment. these amounts shall hear interest from the ditty of disbursement at the Wore rate and shall be payable. with interest, urvii none from Lender to &)rrower requesting pay merit 1 rt R