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t• 1 gg.r '104403 UNIM*M COVENAWM Borrower and Lender covenant and agree as follows: I. Paytnat of PrWpd anti latmort Preminetit aril Late Ckerges. Borrower shall promptly pay when due the principal ofa and interest an the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Fends fwTaxamel Iassrssel, Subject toappliaable law or to a written waiver by Lender, 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 one - twelfth of: (a) yearly taws and assessments which may attain priority over this Security Instrument; (b) yearly knabaki payments or ground rents on the Property. if any; (c) yearly hanrd insurance premiums; and (d) yearly asertaW insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the basis ofeurrent data and reasornabk estimates of future escrow items. The Funk shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or agate ajpicy including Lender if Leader is such an institution). Lender shall apply the Funds to pay the escrow items. Learner may not dmW for holding amid applying the Funds, analyzing the account or verifying the escrow items, unless Larder pays Borrower interest on the Funds and applicable law permits lender to make such a charge. Borrower and Leader my agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law interest to be paid. Lender shall not be required to pay Borrower any- interest or earnings on the Funds. Lender "give to Borrower. without chose, an annual accounting of the Funds sb *it& credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged is additional security for the sums secured by thissecwrity tmett. : ifthe amount of the Funds held by header; re-Vetber with the future monthly payments of Funds payable prior to the dkw dates 44he escrow item. shall exceed "ant required to pay the escrow items when due. the excess shall be. at .)Ind nower's Oution. either promptly r tz.apl�, er of credited to Borrower on monthly payments of Funds. If the aatoirnt of tlt& !Pleads held by Lander is a w affu iient to pay the acru�w items when due, Borrower shall pay to Lender any amount necessary to make up the dedreimq ^aiie or more paynitib as required by L,efxkT, Upon payment in full of all sums+ erred by this Sexurir t E zt- utttent, Leader shiG promptly refund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sold or acqMmd by Lender. Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by LerY &w> any Funds held by Lender at the timed, applicationas a credit against the sums secured by this Security Insc.=ent. 3. Application of Paya mes. Unless applicable law providesptherwise, all payments received by Lender. rr - parsSraphs 1 and 2 shall be applied: first. to late charges due under the Note; second. to prepayment charges due undras.tit�c Note; third, to amounts payable under paragraph 2; fourth. to interest due, and last, to principal due. 4. Cbe row Liar. Borrower shall pay all taxes. assessments. charges. fines and impositions attributable to the: : Property which may attain priority • over this Security Instrutamr.. and leasehold payments or ground rents, if. army. Borrower shall pay these obligations in deitraniter provided in psacag sph 2, or if not paid: in that manner, Borrower shall pay them on time directly to the person owed payment. Borrowvs dWl promptly furnish: w Lender all notices of antnurits to be paid under this paragraph. If Borrower makes these payments directly,1kryower shall promptly furnish to Idler reoeipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Somwer:(a) agrm in writing to the payment of the obligation secured: by the Bert in a manner acceptable to Lender; (b) ceatests it' Sneed faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion cperaetr to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreenernt satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of The Property is subject to a lien which may attain priority oven ibis Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall wisfy the lien or take"a ar. or more of the actions set forth above within W days of the giving of notice. S. Hazard ittaaara■ee. Borrt aLm shall keep the improvernimts now existing or hereafter erected on the Prope ly insured against loss by fire, hazards irxlatded within the term "extended coverage' and any other hazards for which Lender requires insurance. This insurance dtail be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld_ All insurance policies and renewals shall be acceptable to is rrider and shall include a standard mortgage clause. Leader shall have the right to hold the policies and renewals. If Ltttder requires, Borrower shallipromptly give to Lender all receipts of paid premiums and renewal notices. In the event of Inns. Borrower shall Siva, prompt notice to the insurance carrier and Lender. Lender may snake proof of loss if not made pnimpt ly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged. of the ratoratiou or repair is economically feasible and Lender's security is not.lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance lroceeds shall be tra applied to the sus secured by this Security Instrument, whether or not then due. with any excess piid- co Borrower. If Borrower abandons the Property. or does. not answer within 30 days a notice from Lender that the insurance carrier has owed to settle &"claim. then Lender mxy, ca Meet the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will begin when the notice is given. Unless Lander and Borrower otherwise agree 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 Leander. 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 tothe acquisition. f. Pt Ometbn sad Maintenance of Properiy; I.easelwlis. 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 rat merge unless Lender agrees to the merger in writing. 7. Pretwilm of Larder's Rigkta in the Property; Mortgage Insunaee. if Borrower fails to perform the c o amarits and agreirmernts 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 doand pay for whatever is necessary toprotect the value of the Property and Lender's rights in die Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph T. Lender does not have to do so. Any amounts disbursed by Lender under this paragraph T shall become additional debt of Borrower secured by this Security instrument Unless Borrower and Lender agree toother terms of payment, these amounts shall bear ititarest from the date of disbursement at the Note rate and shall Le payable, with interest, upon notice from Lender i„ 13orrowcr requesting payment .�r.