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r r— 7 44192 UNitat U COVt?!+Ult+iTS. Borrower and Lender covenant and aVa as follows: I. PONWO of Peiesei/a{ and L wet; PKWY= st alai Late Chance. Borrower shall promptly pay when due the principal stand interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. & Fa bfwTatar and laaarantai Subject to appikable tawtx to a writer. waiver by Lender. Borrower shall pay to Lender on the day monthly payments are due under the Note, until the Now is paid in full, a sum ( "Funds ") equal to one twdRh of (a) yearly taxes and assessments which may attain priority over this Security -instrument; (b) yearly leaseiold payments or ground rents out the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly maortgagtt k wrmm pnetniwM if any. These items are ealled'•ewrow items." Lender may estimate the Funds due on the basis ofeurrmt data and reaso uOk estimates of futum escrow items. The Funds "be Meld in an itatitution the deposits or accounts of which are insured or guaranteed by a federal or rice 0000 ► (including tROder ff Leader is such an iamuitution). Lender shall apply the Funds to pay the escrow items. Ixades MY not dMup for holding and applying the FwWs, analyzing the account or verb* the escrow items. unless leader Asps Borrower latest on the Funds and appiitabk taw permits Under to make such a charge. Borrower and Laadrs may apes in writing that intent shall be paid on the Fund& Unless awagreement is made or applicable taw tsquires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender dM give to Borrower. without CMW4 an-annual aecOucting of the Funds showing credits and debits to the Funds wo the pmppoae for which each debit to the Funds was made. The Funds are pledged as additional security for the suns~ unred by ttsisSratrity lastruoetmt. 9 the amount of the Funds held by Lender. together with the (utum mmtbly payments of Funds pap�k prior to the due data ottee escrow items, thatl exceed fire amount required to PIY the escrow items �whft. due. the exoeaa shall bun at Borrower's Option, either Promptly rrpaid to Borrower er credited. to Biinflwer on monthly psgments of Funds. If the amnount of the Funds held by Deader is tat sufficient to pay the escrow items iwhe rh due, Borrower shall pay to Leader any aenamnt usoesaary tomakeup the deficiency in one or more payments as toquirWIryl ender. Upon payment in full of all sums secured by this Security Instrument, Lemdts: shall promptly re:f1wd des Borrower any Funds held by Lender. If under paraiMb 19 the property is sold Gr acgoira& by Lender. Lender shalt IWO. no later than immediately prior to the sale of the property or its acquisition by LeradM any Funds held by Lender at the time of application as a enadit;apinat the sons soured by this Security Instrun mi-,. 3. ek P1a,'mtWL Unless applicable law provides ctharw*, aG payments received by rider under paragraphs 1 and 2 small be : !last, to late charges due under the Net, second. to prepayment charges due under the Note; third, to amounts psysbicunder paragraph 2. fourth, to interest duir, mind last. to principal due. a Chet i ML Borrower shall pay all taxes, a asesannemts, charges, Bna and impoofthm s attributable to the Property which may attain priority. over this Security Instrument. and kesehold payments or ground rents, if any. Borrower shall ay these obbSKionain the manner, provided in paragraph 2. or if not paid in that manner. Borrower shall PAY thesis an time directly to the pawn owed payment. Sormwer shall promptly ftmrntcsh to Lender all aoticiatctf amounts to be paid under this panig aph. If Borrower ,takes these peiments directly, Borrower shall promptly furnish to Lander receipts evidencing the payments. Borrower shall promptly discharge any lien which bm priority over this Security Instrument unless Borrower: (a) apnea in writing to the payment of the obligation secured by The lien in a manner acceptable to Lender ; (b) contests in good faith the lien by. or defends apisstr<mforoememt of the lien bL legal procsadinp which in the Lender's opnion operate to prevm the amforcenwt of time roan oar forfeiture of any pan of the Property; or (e) secures from the holder of the lien an SPNW alt satisfactory to Lender subordinatinS the lien to this Security Instrument. If Lender determines that any pan of the Property is subject to a lien which may attain priority over this Security Instrument. Lender may give Borrower a notice identifying the lien Borrows shall satisfy the lien or take one or more of the actions set forth above within 10 days of tbegivingofnotwe. S. I surd imRwaaee. Borrower shall keep the ampravemmts now existing or hereafter erected on the Property insured against loss by fire. hazards iincludW within the term "extended coverage" and any other hazards for which Lender requires insurance: This insurance shall be maintained to the amounts and for the periods that Lender requires. The insurance carrier ms- dins the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies anal renewsh shall be acceptable to Lender and shalfi include a standard mortgage clause. Lender sthall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender All receipts of paid premiums and renewal itotiii m in the event of lea. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of kris if nett made promptly by Borrower. Unless tuber and Borrower otherwise agree in writ iurig. insurance proceeds shall be applied to restoration or repair of the Property damage& if the muoratioa or repair is entottistmically feasible and Landa's security is not lessened. If the rsstaaNX or repair is not economically fearble or Lendees security would be ksm used, the insurance proceeds shall be applied to than sums simured by this Security ittaaxtmtent, whether or mull: then due. with any excess aid to Borrows. If Borrowett aibaadons the Property. or does not amSwer withitr 30 days a mrniex Mr-M. Lender that the insurance carrier has n1k ed ter Mettle a chum. then Lender may coliat the insurance proceeds. Lender mcp use the proceeds to rc*r or restore the Pr VeVtY or to pay sum sawed by this Security lira nMXent. is given. when tkir wxxe whether or not tip due. The 30-day pet tL tas116egin Q'ntess Lender and Borrower otherwise agree in writing. any application aproceeds to principal shall not exte rid or poatpow. I-Ike due due of the monthly payments refemxed to in paragraphs 1 and 2 or chance the amount of the payments. it under pns'itgraph 19 the Prapeny is acquired by Lender. Borrower's nght to any insurance policies and proceeistr resulting from to the Property prior to the acquisition shall pass to tender to the extent of the sums secured by thmsecu.•ity Instrument immediately prior to theacquisitton. g" 1'seu►radistsaM 11laMtasanre otNtopery: Lsaaeblda. Borrower Shall not destroy, damage or subsiant:i;l v chaste the Properly; a :iow the Property to deteriorate or commit waste. if this Security instrument is on a kaseho4 Borrower shall comply with the provisions of the lase, and if Borrower acquires fee title to the Property, the l4s6hold and fee title shall not merge unless L.endet agrees to the Burger in writins. 7. p'resatthst of Idea's Riglmea to the Prupertlr;, Mortpie lawnsice. If Borrower flails to perform the eOA ��e.� t<-.s"sr.1:n:.d ors thij, SKufiiy Insmztmmn. or there is a legal proceeding that may significantly affect Lawn's rights in the Property (such as a proceeding tut deilzkrup(Cy, probate, for condemnation or to enforce laws or mugsmishosts), then Lender .=V doand pay for whateveris rsetrtsic ry to protect the valueof the Property and Lenin's rights is the lI m3perty Lender's .acnwas may Include paying . any, satt+its aw'cured by a lien which has priority over this Security instrsmsmr, sppeemrtng i.o swat. piytes reasonable attorneys' {lees and entering on the Property to make repairs. Although Under nsiy take actwoer, user Ibis paragraph 7. Lender does not have to do so Any amounts.tii"tsed by Lender under this paragraph 7 shall become additional debt of Harrower secured by this Security Instrument 13'nirss &mrowrr and tender agree to other terms of payment. theseamounts shall bear interest from the dote at dil;twtseenent at the f�Itstt rate and shall he payable, with interest, upon notice from Under to Mirrower regveums psymni