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so-- 105740
<br />UNIFORM COVENANTS Iinrrower and Lender covenant and agree as follows:
<br />I. PaYMtst Of PrhWPd gad lntowU PreMyaseat and Late Chargers, grower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />L Fisitids tar Taxes a d Iautirasaw, Subject to applicable law or to a written waiver by Lender, (Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Fundq ") equal to
<br />one-twelfth of. (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Fturds due ou dar
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<br />basis ofaurrent dats and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federat 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, anitlyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law pertness Lender tai make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
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<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
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<br />shall give to Borrower. without charge, an annual accounting of the Funds showingeredits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged ss 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 duedates of the escrow items, shall exceed the amount required to pay the escrow items when due. the excess shall he,
<br />at Borrower's option, either promptly repaid to Beira%wer or credited to Borrower on monthly payment% of Funds. U the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow item% when due, Wirrowc r %hall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments *% required by Lender.
<br />Upon payment in full of all sum% +toured by thi% Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property a sold or acquired by Lender, Lender %hall apply, no later
<br />than immediately prior to the sale of the Property or its acqui%nion by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums swured by this Security Inhi rument.
<br />3. Appikation of Payments. Unless applicable law provides otherwise. all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note: second, to prepayment ehnrgp% deep under the
<br />Note; third. to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4, Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2. or if not paid in that manner, Borrower shall
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<br />pay them on time directly to the person owed payment. Borrower shall promptly fum ish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments_
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<br />Borrower shall promptly discharge any hen which has priority over AssSecuruy Instrument unless Borrower: to)
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<br />agrees in ws-iting to the payment of the obligation secured by the lien in a manner accepil ble to Lender; (h) contemn in good
<br />faith the li+eir by, or defends against enforcement of the lien in, legal proceedings whicth in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Properly: or (c) secures framm the holder of the lien an
<br />agreement satisfactory to Ixnder subordinating the lien to this Security Instrument. If* Leirldcr determines that any part of
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
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<br />notice identifying the lien. Wrrower shall satisfy the lien or take one or more of the sciions set forth above within 10 days
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<br />of the giving of notice.
<br />S. Hazard lawraaee. Borrower shall keep the improvements now ercistang car hereafter erec:cd on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject loo Lender's approval which shall not be
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<br />unreasonabfywithheld.
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<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
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<br />Lender shall have the right to hold the policies and renewals If Lender req;amr.%. IBorr�ower sha11 promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of tcx%s, D,xrower shall give prompt notice to the insurance
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<br />carrier and Lender. Lender may iTtAke proofof loss if not made promptly by Borrower.
<br />Unless Lenderand Borrower otherwise agree in writing, insurance proceeds sha 11 be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
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<br />restoration or repair is not economically feasible or Lender's security would be lessened, 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 />ofrered 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 Security Instrument, whether or not then due. The 30-day period will begin
<br />when the notice is given.
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<br />Unless Lender and Borrower otherwise agree in writing, any application of proceed% to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or chu nae the amount of the rwvrnrnt s If
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<br />under paragraph 19 the Property 6 acquired by Lender. Borrower's right to any insurance policies and proceed% resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent cif the sums secured by iht% Security
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<br />Instrument immediately prior to the acquisition.
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<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall oat destroy, damage or %uhstantially
<br />change the Property, allow the Property to deteriorate or commit waste If this Security Instrument is leasehold.
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<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and
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<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the
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<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly afleo
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate. for condemnation or to enforce laws or
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<br />regulations). then Lender may do and pay forwhatever is necessary to protect the value of the Property and Lender", right%
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<br />in the Property. Lender's actions may include paying any sums secured by a lien which ha% prionty over this Security
<br />Instrument, appearing in court. paying reasonable attorneys' fees and entering on t he Property ro make repair, Although
<br />Lender may take action under this paragraph 7. Lender does not ha%c to do %o.
<br />Any amount,, di%hurscd by Lender under this paragraph 7 %hall become adds tion &it Licht .d 11orrouer %ec tired h% this
<br />Security Instrument. Unless Borrower and Lender agree it) other terimof payment. the.earnount %%hall hear iritcrc%i fr%mr
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<br />the date of di%hursernent at the Note rate and %hall he p.ryahle, whir nosiest, ulkni nntiLr tt,ar► I Vilder r,, ll.aro%%cr
<br />requesting payment.
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