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jo. 146425 UNIMRM COVENAN'M Borrower and lender covenant and agree as follows: 1. Payateat of PrWpd ant intereati Prepayment area+ Late C1ta gm Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Famla f'orTaxito gad hwAraeee. Subject to applicable 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 cne•twelAh of: (a} yearly tames and assessments which may attain priority over this Security Instrument; (b) yearly ieaseltold payments or ground rents an the Property, if any; (c) yearly hazard insurance premiums. and (d) yearly mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the basis of current data and reasonable estimates of Ruure escrow items. The Funds shall be held in an institution: the deposits er accounts of which are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds. analyzing the account or verifying the escrow items, unless Lender pays Borrower interest on the Funds and applicable raw petnairs Lender to make such a charge. 8o,-fower and Lender may agree in writing that interest shall be paid Qa the Fund& Urrtess an Weement is made or applicable law requires interest to be paid. Lender shall not be required uo w. 80"Gwer any or earnings on the Funds. Lender shall give to Borrower. without charge, an annual accounitW t rTftM Ir emds showivV .,corals and debits to the Funds and the purpose for which each debit to the Funds was made. The tilnts&. we Ir Wged as a&Wj vial security for the sums secured by this Security Instrument. If the amount of the Funds held by Lender, together with the trla trwc monthly payments or, lcrwds Payable prior to the due dates of the escrow items, shall exceed the amount required to pay the escrow items when 4V.-, the exoesr s1!n211 bC . at Borrower's option, either promptly repaid to Borrower or credited to Sorrower 6m ern athly par` amts o•W F4nm .. If the amount of the Funds held by Lender is not sufficient to pay the escrow fit-669 wly m: dl=, Borrower sla�l pay ta� l tznj rs array amount necessary to make up the deficiency in one or more payments a9 r quixei bS F Lt nder. Upon payment in hill of all sums secured by this Security Intern. vPt, Egmkr shall promptly refund to &amllaes any Funds held by Lender. If under paragraph 19 the Property is sold o acquirer 1hv lender. Lender shall apply, mr later than immediately prior to the sale of the Property or its acquisition by Lender, anv is unds held by Lender at the tame of application as a credit against the sums secured by this Security Instrument. 3. ANrlieadm o! Payments. Unless applicable law provides otherwise: 61E payments received by Lender under paragraphs 1 and 2 shall be applied: first. to late charges due under the Note; secand, -.b prepayment charges due under the Note; third. to amounts payable under paragraph 2; fourth, to interest due; and last* to principal due. 4. Chargem Lieu& Borrower shall pay all taxes. assessments, charges, fines and impositions attributable to the Property which may attain priority. over this Security Instrument, and leasehold payments or ground rents,. if ant e! Borrower shaU pay these obligations in the manner provided in paragraph 2, or iEnoa paid in that manner. Bormw1es sill pay than on time directly to the person owed payment. Borrower shalt prr. mptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments dif•e9 -,?y, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over 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 With. the !-- by, or dri'els a enfsscernent of the lien in, legal more dings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) sec -res from the holder of the lien an agreement 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 over this Security Instrument, Lender may give Borrower a notice identifying the Gen. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. S. Hasard Insurance. Borrower shall keep the improvements er w exisdrZ or hereafter erected on tllae Lroperty insured against loss by fire, hazards included within the term' extended. oauer%e"` aced any other Ihwmnds km niL'ntatt- Lender requires insurance. This insurance shall be maintained in the aravr N aad for: she periods thmq Lemder m4piires. The insurance carrier providing the insurance shall be chosen by Borrea,e.;. %� ect zc L° —drr's approvaP w %zit - -ch9l• not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Leader and sMt rrr,:lude a standard woctpge clause. Lender shall have the right to hold the policies and renewals. If Lender requires, L'li -rower sbAE. pm�(+tly give to Lender all receipts of paid premiums and renewal notices. In the event of loss. Borrower stmt: j've procapt. maace to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrcrxier.. Unless Lender and Borrower otherwise agree in writing, insurance proceeds st 40- be ap�l O soh oesioration or repair of the Property damaged. if the restoration or repair is economically feasible an(! Lo.-Dier'S sam n�c es net D¢gmed. If the restoration or repair is not economically feasible or Lender's security would be lex ss . the insr�ce pc=sds shall be applied to the sums secured by this Security Instrument. whether or not then due, with any enam paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that rlhe insurance carrier has offered to settle a claim. then Lender may collect 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 them due. The 30-day pe:rimi Twill begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to prin6pal shall not extend or postpone the due date of the monthly payments referred to in paragraphs i and 2 or change th a a.tnount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance 1x lines. and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the slicers secured by this Security Instrument immediately prior to the acquisition. 6. Preservation and Maintenance of ProperW. Leaseholds. Borrower shall not destroy, damage or substantially change the Property. allow the Property to deteriorate or commit waste. if this Security Tnstrument 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 not merge unless Lender agrees to the merger to writing. 7. Protection of Lenders Rights in the Property; Mortgage insurance. If Borrower fails to perform the covenants and agreements contained in this Security instrument. or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a icen 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 7. Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable. with interest. upon notice from Lender to Borrower requesting payment. 1L:jr • t�lr�'. ,,CC r i r�.