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UNIFORM COVENANTS. Borrower and Lender covenant and agree as fo11a�""m 104789
<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 Nate and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Ittsnranee. Subject to applicable lw v 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 this 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 ofeurrent data and reasonableestimates of fitture 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 (inclkto" Lender if Lender. § i h an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may notrrge for holc}ng and the Funds, aradying the account or verifying the escrow items. unless
<br />Lendz:ys Eortc?s itttere o the Fa;-�':4itrr.: ?t la2rmits Lender to make such a charge. Borrower and
<br />Len4k •agree ;tn• writing en t:-'ipterest sha�':'� �+�.�vtt tai' Fktnds. Unless an agreement is made or applicable law
<br />requr: ins Brest to be paid, Len;�iij shall not.t�r�3a� �z�i 3q pay Harrower aaJ i.-rterest or earnings on the Funds. Lender
<br />shall g "'to' Borro*es, withoutcfiarge, an;r mr t *%^ling of theFznds showing credits and debits to the Funds and the
<br />purpose for whic Debit to the Funds ?_ ftaFunds aft-pledged as additional security for the sums secured by
<br />this Seority
<br />lw :heart; it i3 f the rr"A:'I:eld by ,� P. newt a,i3it the future monthly Faysnscst, of Ftrsd : gable Year to
<br />the & hates of r�.zscrow itmn& 'fall exceed the amc�.nt wired tip pay the escrow items when due, the excess shall be,
<br />at Borrower's optva ,"either pretty repaiu r�Y Borrower or credits l t : Borrower on monthly payments of Funds. if the
<br />amount of the FuryN 'eld by Lender is net sracient to pay the escrvyr 2t.ms.when due, Borrower shall pay to Lender any
<br />amount necessary Xm.inake up tick ftficiency in one or more payments as �equired by Lender.
<br />Upon payment in full rf4, sums secured by this Security Instrumi ' nt, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. Iftim�zer paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately p*`ur to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a crt�gf:t against the sums secured by this Security Instrument.
<br />& Applfcs6 tt of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragmph� 1 and 2 shall be appbW: first, to late charges dune under the Note; second, to prepayment charges due under the
<br />Note; tJf , toamounts payablrewader paragraph 2; fourlb.; ra interest due; and last, to principal due.
<br />4. Charges,, Liens. lcrrmwer shall pay all taxes, assessments; charges, fines and impositions attributable to the
<br />Property which may attain prfi,rity.over this Security Instrument -aud leasehold payments or ground rents. if any.
<br />Borrower shall pay;ihese oblig;:tiaas in the canner provided in paragrVA 2, or if not paid in that manner, Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly: furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly. Bt r oweT shall promptly furnish to Lender
<br />receipts evidencing the payments. y
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) —'
<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 by, or defends against enforcement of the lien in, legal proceedings Wbich in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any 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 />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall iarisfy the lien or take one ter t :yore of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. B.,-rrower shall keep the improvements now existi rig or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance.. This insurance shall be maintained in the amounrs and for ;he periods that Lender requires. The —
<br />insurance carrier prw�iding the insurance shall be chosen by Borro%rVCn; subject to Lender's approval which shall not be
<br />unreasonably withheld. ' All insurance policies ;stud renewals shall be acceptable to Lender and include a standard mortgage clause. OF
<br />Lender shall have the right to Irt:id the policies and renewals. if Lender requires. Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of lose. Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make; Irroof r.f loss if not made promp:°� by Borrower. �.
<br />Unless Lender and Borrouur etheru cse agree in wcting, insur,arve proceeds shall be rrF�4ied to restoration or repair
<br />of they Property damaged. if the restoration or repair is tx cnomically feasible and Lender's �.acurity is not lessened. if the
<br />restoration or repair is not economically feasible or Lenses: is security would be lessened, t} _• { nsurance proceeds shall be
<br />applied to the sums. secured by this Security Instrument, whether or r.Dt then due, with any. excess paid to Borrower. If
<br />Borrower abandon.,. the Property, or does rust answer within 30 day,, a notice from Lender ;hat the insurance carrier has
<br />offered to settle a datrrn. then Lender may r i11r..t the insurance procet6. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Iw. rumens, whether or twt hen due. The 30-day period will begin
<br />wher tiv notice is given.
<br />Unless Lender and lki ,veer otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payme'st:, referred to in paragraphs I and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shy; i p ass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />b. Preservation and :11a(ntenance of Property; Leaseholds. Borrower %ha lint it destroy. damage or substantially
<br />change the Property, allow the Property to deteriorate or commit la�yscte. If this Security instrument i4 on is leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrca it,,, acquires fee title to the Property, the leasehold and
<br />fee title shall not merge unless hp: ;der agrees to the merger in writing.
<br />• 7. Piotection of LeM" Rights in the Properry: Mortgage Insrrvivt;. If Borrower fails to perforrn the
<br />cotenants and aereements contained in this Seenrity lnva. _: irrlt, rr r?trre i� �.fi•> t c:, pu�cerriing that m; +y �►gtufi, ;aptly agrt -t
<br />Lender'~ rights in the Property (such a% .r4,. proceeding in bankrupt ia. nrobafe. for condemnation or to enforce law; or
<br />regulations). then Lender may doand pay for v►hatever is necess ary to prtrtcct the value of the Property and l.endcr•% rtt lq�.
<br />to the Property lender's actions may include paying any sums secured by is hen which has priority over this Security
<br />instrument, appearing iii stunt, paying rcasonable atlortrcys' fees and entering tin the Property to snake repau-i Altluruglr
<br />Leader may take action under thrc paragraph 7. Lender dues not have to Rio c,. FJ
<br />Airy amiruntadisburwd by i ender under thi -. paragraph 7s h i i I I become .tddrttonal dcht of liorrtm+•t r wt urc+i by f1ia,' ti
<br />Security Instrument. Unle; . Ilorrtt+er and i ottler agree to vilier terrrrs(if pa}rncr.t. droll hest ttavre-t ftolu
<br />The Bite of dtshuvwnrtm it the Now rmc and stall he pa}at+lc. arth intern-.. upoit -rouse from i.ender hs Hturoucr �
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