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r -M. 1 UNMAN COVENA'•t M Borrower" Lender covenant and agree as follows: 89-104292 1. Paymdat of Priaelpat W [atereM Ftregaytmt nth Late Charges. Borrower shall promptly pay when due theptindpalofaidinterest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. FW& for Taxes oN loatteaaee. Subject to applicable law or to a written waiver by tender. 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 cne4vdh)s of- (s) yearly taxes and its which may attain priority over this Security Instrument, (b) yearly kombold payments or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly samtOW iwaunnce premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the bmis of etirrm data and reasoeabie estimates of future escrow items. The Funds diall be held is an institution the deposits or accounts of which art insured or guaranteed by a federal or strafe solacy (itnctuding Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Ladar may not charge for holding and applying the Funds„ analyzing the account or verifying the escrow items, unless !.eerier pays Borrower interest on the Funds and applicable law permits Lender to :retake such a charge. Borrower and Leda may agree in writing that interest shall be paid on the Funds. Unless, an. Weement is made or applicable law requires interest to be paid. Lender shall not be required to pay Borrower a- y ty rest or earnings on the Funds. Lender ttltaU eve to Borrower, without charge, an annual accounting of the Fum4s.Nkimgcredits and debits to the Funds and the porpde for which each debit to the Funds was made. The Funds are plediedWiaddi bonal security for the sums secured by titiisSecunity Instrument. If the amount of the Funds held by Lender. together with the future montl lj piayments of Funds payable prior to the due dates of the escrow items. shall exceed the amount required to pay the escrow items when due. the excess shall be. at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the aomist of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by i4mder. Upon payment in full of all sums secured by this Security Instrument, Lerida shall promptly refund to Borrower any Funds.beld by !.ender. If under paragraph 19 the Property is sold or acquired by Lender. Gender shall apply. no later than immediately prior to the sale of the Property or its acquisition by Under. any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrtr neist. 3 Apptiesdas of Paynots. Unless applicable law provides otherwise, stet payments received by Leader under psragesgft I and 2 shall be applied: first, to late charges dm under the Note; second., to prepayment charges clue under the No,, third. to amounts payable under paragraph 2; (bu-n , to intent due. and last. to principal due. 4. Charger Lien. Borrower shall pay all taxes, assessments. charges. fines and impositions attri:+r1*11 so iw,_ lG!�apesty which may attain priority.over the Security tintrument, and leasehold: payments or ground rte; if ashy.•. Sommer shall pay these obligations in the manner providW iii paragraph 2, or iF nr*pasd in that manner. Bmrrdwa shaM4 . pay th6r, on time directly to the person owed payment Borrower shall promptly fmsish to Lender all notimo'f"aintmmsm .. to be paid under this paragraph. If Borrower makes these payments d9r"Iy. Borrower shall promptly furnish to Lender receipts evidencing the payments, Borrower shall promptly discharge any lien which has priority m er this Security Instrument unless Borrower: (a) agrees 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 against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to pment the enforcement of the lien or forfeiture of any part of the Property: or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinatting the lien to this Security instrument. if Lender determines that any part of the Property is subject to a lien which maps strain priority over this. Security Instrument, !.ender may give Borrower a notice identifying the lien. Borrower shall iiisfy the lien or take one or more of the actions set forth above within 10 days of the g of notice. S. Hagan lasurance. Borroam ihALl keep the s zprovements now exi vi ag rsr hereafter erected on the Property insured against loss � fire, hazards indmied uvithin the term "extended cstaerage' and any other hazards for which Lender sequires insurance. ";'trs insurance shall he maintained in the amounn aad for the periods that lender requires. TM. insurance carrier providing the insurance shall he chosen by Borrower subject tn• fender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and s's O Include a standard mortgage clause. Leader shall have the right to hold the policies. sand renewals If Lender requires, Baerower sha6PJ'pr omptly give to Landor. all receipts of paid premiums and renewal notices. in the event of loss. Borrower sha%14 give pp mpv notice to the insurance carver and Lender. Lender may make proof of toss if not made promptly by Borrower Uzkss Lender and Borrower otherwise agree in writing. insurance proceeds ti W. .' be applied to restoration or repair of the Property damaged. if the restoration or repair is economically femble and Lender's sar:.rrty is not lessened. if the restoration or repair is not economically feasible or Lender's security wood be lessened, the imturance proceeds shall be applied to the suits secured by this Security Instrument. whether or mt. then dae, with any eiicess paid to Borrower. If Borrower abandons the Property. or does not answer within 30 days a notice from Under that the insurance carrier has ot1'a to settle aclaim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums securers by this Security Instrument, whether or not t.herr. due. The 30-day period will begin when the notice is given. Unless Lender and Borrower otherwistagree in writing. any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If under paragraph 19 the 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 4. Pieaaradati sail Maiateaaaee of PmVerW i eateiolda. Borrower shall not destroy, damage or substantially chaW 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 fectitk shall not merge unless Lender agrees to the merger in writing. T, FrMOttiea M I&w&ea Rig O is the Prarerry; Mortgage Imwasee, If Borrower fails to perform the cnMet Ws Awls yre!tti-nts c-untaineed in t hit Se;uestq InSt:uff e.^.;. Of there:-. s *221 ramm -ding that r. say sigr.if"ritty &F.4t Lender's rights in the Property (such as a proceeding to bankruptcy. probate, for condemnation or to enforce laws ear rqulattom), then Lender may doand pay for whatever is necessary to protect the value cif the Property and tender's rights its the Property 1,ender's actions may include paying any sums secured by a lien which has priority over this Security ina,rumesit. apptanng in court. praying reawnable sitoineys' fees and entering on the Property to make repairs Alihoush tr ttder may take aetion under this paragraphi 7. 1 ender does not have to do w. Any amounts disbursed by t ender wader this paragraph 7 shall become additional debt of Uvrrower secured by this Sbturtty Insirurnrnt Unims Burrower and I Crider aittee to other tetmsof payment. these amounts shalt tear interest from the date (A dtvbuisernent tit the N,ite late acid shall tv. payable, weep iniciem. upr)^ nuti.e trim Ltndrr to Wrre -er rsgrreating payment