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r L 89°-'103943 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1• Psyts►eat of Priaelpai aced latera M Prepayraeat atsd Late Charge, 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. Foals for Taxaa saW Iamrsom Subject to applicable law or to a written waiver by Lender, Borrower shall pay to I,aWer On the day monthly psymerts are due under the Note, until the Note is paid in full, a sum ( "Funds") equal to ooertw Ifth of (a)-yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly lsassiold payments or ground rents on the Property, if any; (c) yearly hoard insurance premiums; and (d) yearly Mortgage Insurance premiums„ if any. These items are called "escrow items." Lender may estimate the Funds due on the bashofeurrant daft and teataRtibktatiatatea of future escrow items. The Funds shag be held In an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (including bander if Leader is such an institution). Lender shall apply the Funds to pay the escrow items. Leader may not charge for holding and appiyisrd the Funds. analyzing the account or verifying the escrow items, uakasa Lasda pays Borrower interest on the Funds trod applicable law permits Lender to make such a charge. Borrower and Ltassder say ISM in writing that interest shaft. Tile paid on the Farads. Unless an ageement is made or applicable law MOM interest to be paid. Lender dWH not be a quired to pay Borrower any interest or earnings on the Funds. Lender ssltssg Arne to Borrower, without charge, an samiu g 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 sutras secured by this Security Imvument. If the amount of the Funds MW by Lender. together with the future monthly payments of Funds payable prior to the due derma of the escrow items, aliilt exceed the amount required to pay the escrow kews when due. the excess shag be. at BorrrawWs option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Lender is not sufik rot to pay the escrow items when due, Borrower saswll pay to Lasder any amount necessary to make up the deficiency Wm.eot mote For meats as required by Leader. L1poo payment in fitll of all sums secand by this Security Instrument. Lender shall promptly refund to Borrower any Funds held by Lender. If under p v&VaV& L-9 the Property is sold or acquired by Lender. Lender shag apply. no later than immediately prior to the sale of the PriWM, or its acquisition by Dander, any Funds held by Lender at the tithe of app edon as a credit against the sumssecnred by this Security Instrumennt. . & Ap Hadlsss of Pay �b. Unless applicable law provides otbe wise, all payments received by I.ader under V aragraphs I and 2 shag be applied: ks4 to late charges due under the Note; second. to p►repsyment charges due under the Note; third, to aarounts payable undierparagraph 2; fourth, to i nter ett dries. sod last„ to p dricipad due. 4. Clam L lean. Borrower shag pay sit taxes. moments, charges,: Aces and impositions attributable to the Property which may attain priority over this Security I>hcrutnent, and kasehold payments sic, ground Teats, if any. Borrower shag pay these obligations in the meaner• previdexl ins paragsph 2. or if not paid in that manner, Borrower shau Pay them Au time directly to the person owed payment. Borer MW shag promptly furnish to Lender all notices ofmostnts to be paid under this paragraph. If Borrower makes these pats directly. Borrower shall promptly furnish 0i Lander . r'eoeieta evjeldM!ie� ftf. wnww�..r. Borrower shah promptly dhcharge any lien which has priority over this Security Instrument unless Borrower: (a) ages in writing to tbepszymeat ofthe obligation secured by the lien in a mannersoos ptoble to Lender; (b) contests in good the � by. OF d ik`maa agaitsst ettforo went cf the lien in, legal prooeedingst which its the Lenders opinion operate to prevent the enforcement of the Hem cr. -forfeiture of any part of the Property; or (c) warn$ from the holder of the lien an agreement satisfactory to Lender mating the lien to this Security Instrument. If Lander dines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, I.ert&er may give Borrower a notice identifying the lien. Borrower shall sati* the lien or take one or more of the actions set foist?; ;hove within 10 days of the giving of notice. 5-161 saed Lwsraaea Botriswer shall keep the improvements now existing or hereafter erected on thin Property h used against lost by fire, hazards included within the tern "extended coverage" and any other hazards for which Lender requires insurance 'Ibis'insuratim shall be maintained in the amounts wW for the periods that Lender requires. The insurance carrier provWing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. Ag insurance policies and renewals shall be acceptable to Lender and shag include a standard mortgage clause. Leader shag have the right to hold the policies and renewals. If Lender requires, BonvNer shag promptly give to Lender all reoapts of paid Premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insumace carrier and Lender. Lender may make proof of loss if not trade promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, J the restoration or repair, is economicay feasible and Lender's security is not kmevAxL If the restaratiaa or repair is not economically feasible or Lender's security would be lessened, the insurance proceed: shag be appSed to the sums secured by this Security Imtnunesit• whether or not,thgen due. with any excess paid to Borrower. If . Borrower abandons the Property. or does not ansstsrer within 30 days a rtotiix from Lender that the insurance carrier has gift ed to settle a claim. then Lender may collect the imusance proceeds. Lender may use the prroceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not tfias due. The 30day period. wig begin when the notice n given. Unkst Leader and Borrower otherwist agree in writing, any application of proceeds to principal shall not extend or postpone the due due of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 14 tite Property is acquired by Lender. 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 immediately prior to the acquisition. 6. plan. r d N[dmtenwe ofi%perjr. Leameboiit. Borrower shall not destroy, damage or substantially change the Property. allow the Property to deteriorate or commit 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 title shall not merge unless Leader agrees to the merger in writing. 7 Prefectlea of LeadWs hlttgMs is tie Property; Mortgw Iasarasee. If Borrower faits to perform the ooyenaats and agreements contained in this Security 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 laws or regulations). then Lender may do and pay for whatever is necessary to protect 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 pnonty over this Security instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repnrs. Although Lender may take action under this paragraph 7. Lender does not have to do so Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Ihitrurnent Unless Borrower and Lender agree to other terms of payment. these amounts shall tear interest from the date of disbursement at the '.dote rate and shall be payable. with interest, upon notice from lender to Rorrvwrr requesting psym m a.