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<br />.., 105809
<br />UNIVORM COVENANT~ Borrower and Lender covenant and agree as follow%;
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower 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 />2. Funds for Taxes and Insurance. 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 ( "Funds ") equal to
<br />one-twelfth of: (a) yearly taxes and assessments which may attain priority over chi% 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 Funds due on the
<br />basis ofcurrent data 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 federal 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, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable lair permits Lender to 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
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower. without charge. an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additimial 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 p6or to
<br />the due dates of the escrow items, shall exceed the Amount required to pay the escrow items when due. the excess stud be,
<br />w .Borrower's option, either promptly repaid! to Do-rower or credited to Borrower on monthly payments of Funds. If the
<br />amount of tlhe Funds held by Lender is not sufiicien 1:1 o pay the escrow items when due, Borrower shall pay to Lender any
<br />amount nemsary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply. no later
<br />than immediately prior to the sale of the Property or its acquisition by Lewkr, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: firm, to late charges due under the Note; second, to prepayment charges due under the
<br />Note, third, to amounts payable under paragraph 2; fourth, to interest due; and last. to principal due.
<br />4. CUrges; Liens. borrower shall pay a44 taxes, assessments, charges, tines and impositions attributable to the
<br />Property which may attain priority.over this Stcu•rity Instrument, and Iea.%ehold payments or gIrOund rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, BorrONW T shall
<br />pay them an time directly to the per-wo , awed payment. Borrower shall promptly furnish to Lender all notices of arnoantc
<br />to be paid under this paragraph. If Bortmwer makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payrntnts.
<br />Borrower shall proraaptly discharge any lien which has prionty over this Security Instrument unless Borrower; lap
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien bar. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion ape ram to
<br />prevent the enforcement of the lien or forfeiture of anv part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />t: Property is subject to a lien which may attain priority over this Secunct. Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more -4 the actions set forth atmve within 10 days
<br />of the giving of notice.
<br />S. Hno rd Insurance. Borrower shall keep the improvements now txi%ting or hereafter erected on the Property
<br />ii- tsured against loss by fire, hazards included within the term "extended ca►ecage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts ate;: for the periods that L,,:nder requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and %hall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If lender requires. Borrower shall prornpily give to Lender
<br />all receipts of paid preriniums and renewal notice%. lei the event of loss. Borrower shall give prompt nonhve to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall he applied to restoration or repair
<br />of the Property damaged, if the restoration or repair I% economically feasible and Lender's security is not lessened. If the
<br />trstoration or repair is not economically feasible or Lender's %munh 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 execs% pied to Ikirrower. If
<br />Borrower abandons the Property, or does not answer within ;0 dr)% a nonce from Lender that the insurance earner has
<br />offered to settle a claim, then Lender may collect the insurance p rtweeds. Lender may use the proceeds to repair yr restore
<br />the Property or to tiay %unis %%cured by this Secunty Instrument., whether or not then due. The 1"ay period pips begin
<br />when the notice is given.
<br />Unless Lenderand Borrower otherwi%e agree to wnting. am apri aarun of rnkeed% to principal shall mot extend or
<br />postpone the due date of the monthly payments referred to in paragraph% 1 and 2 er change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance r+olicies and Proceeds resuUma
<br />from damage to the ;Property pnor to the acquisition %hall pas -w Lender to the extent of the sum% secured by this Seeurity
<br />Instrument immediately prior to the acquisition
<br />6. Preservation and lNtslatenance of Property; LeasehoWs, liolrrmer %hall not de%i ray, damage or %uhstantiali)
<br />change the Property. allow the Property to detenorate or commit wa%te If this Security Instrument i% on a leasehold.
<br />Bitrower shall comply with the provisions of the lease. and if Borrower ucyuire% fee rule io the Property. the leasehold and
<br />fee tole shall not merge unless Lender agrees to the merger rat w r. rang
<br />7. Protective of Leader's RiRlits is are Property; %torttaaRe Insurance. If Ikirrmwer fail% to perform the
<br />covenants and agreements contained in thn Securir) Instrument, or there t% a legal proceeding that mat, significantly of ect
<br />Lender's rights in the Property (such a% a prdteedmg in hankruptc). prrdhaie. for .underniiatum or r„ enli•rce lac% or
<br />rtgula iron . then Lender may doand pay for whutecer i%airee%sar) to pr.btect the •ague �,f the Property and 1 en%trr'% right%
<br />m the Prupen) Lender's actions may include pu)ing an>. %urn% wcured Ihr..t acrt wPu.h ha% prionty liter rhd,4 Security
<br />Instrument, appearing in coun, paying reasonable attorney; fev%and enrering on the Prolierty to make repair% Although
<br />Leader may take action under third paragraph ', t ender dixh not ha%c tv d. , %.l
<br />Any amounts disbursed by i ender under chi% paragraph 7 %hall K%oiac additional deft of Mirtuwer %reured h% till%
<br />Security Instrument Unlcs% Borrower and I ender agree to mher tram of ra%nient, thc%r :drurunt% %hall twat uitru• %t trwPt
<br />the date of disburscmrnt at the Now rate and %hall hr payable. with uUrtem. upon in,ii.r itom I ruder to li,,rrmwri
<br />requesting payment
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