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<br />UN1FORNI COVEAA". . Borrower anal Lender covenant and agree as follows:
<br />1. payment of prlacipal and Interest; Prepaymeat and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late Cnargcs due under the Note.
<br />2. Funds for Taxes and Iamnnce. Subject to'applicable law or to 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 tastes 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 of current data and reasonable estimates of future 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 (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge. an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additiuiral security for the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender. together with the future monthly payments of Funds payable 1?n:� *r. tit
<br />the due dates of the escrow items, shall exceed the amount requireri: to pay the escrow items when due, the excess a1 UT Imo,
<br />at Borrower's option. either promptly repaid to IIormwer or credire3 20 Borrower on monthly payments of FU 1-TIJ' , llf t.ke
<br />amount of the Funds held by Lender is not sufftciew, to pay the cs-.rnv items wit= due, Borrower shall pay la U eadn'r:m
<br />amount necessary to make up the deficiency in one or more payrrciws av required by Lender.
<br />Upon payment in, frill of all s4tal-% secured by this Security blur.-ument. Lender shall promptly refund as ld,,rnaavw -T
<br />any Funds held by Lender. Ili ;znder paragraph 19 the Property is ,purl! ar acquired by Lender, Lender rent - Isnr,.
<br />than immediately prior to +,4re sale of the Property or its acquisition ay Lender, any Funds held by Lender .tlr dl e- r r.V.(_ or
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by >uc rifer 4AM( err
<br />paragraphs I and 2 shall be applied: first. to late charges due under;jh.- Note; second, to prepayment charges due um - &--s Ttn-
<br />Note; third, to amounts payable under paragraph 2, fourth, to inten:.co due; and last, to principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes. assess. - pens, charges. fines and impositions attributable tar the
<br />Property which may attain priority. over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 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 (=der this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Leper -w'
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has prtrtetty over tNs Security Instrument unless Borrower-• fs�
<br />agrees in writing to chit payment of the obligation secured by the lien in a manner a ceptable to Lender: (b) contests in good
<br />faith the lien by. or defends against enforcement of the lien in, lept proceedings which in the Lenders opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of dthe Property: or (c) secures?rram the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Len&.&, (ktermines that any part of
<br />the Pronerty is subiect to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth ab:.:c within 14 days
<br />of the giving of notice.
<br />S, Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured apaimst loss by fire, hazards included within the term "extrmded coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the .amounts and for the periods that Lender requires. The
<br />insurance carrier pror:i:&ag the insurance shall be chosen by 3zr- .,over subject to Lenders approval which shall not be
<br />unreasonably withheld-
<br />All insurance p&.ies and renewals shall be acceptable w! Lender amil sl�A include a standard morgage clause.
<br />Lender shall have the right to hold the policies and renewals_ If: ILenJer requires. Borrowecslmtl3 promPO ,ease to Lender
<br />all receipts of paid premiums and rea. -wal notices. In the even_ or u;4cs. Borrower shall give pc. ,--et :,otice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made'prc :•aptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repo :r is economically feasible and Lenders security is not lessened. if the
<br />restoration or repair is not economically feasible nc L.- nder's security would be lessened, the insurance proceeds shall be
<br />applied tea rite sums secured by this &—zurity Instrt,.mamt^ wherl,uar or not then due, with any excess paid to Borrower. If
<br />Borroweer• ft -tdons tire.Property. ac -,aces not ansa,er within v da=ys a notice from Lender that the insurance carrier has
<br />offered to settle a ci: i rne. dwil L v&i =xy collect ti= "Tnurano., p reeds. Lender may use the proceeds to repair or rest:cre
<br />the Property 3)r era: p4? s�,ms secured by this Secznt7? Grastriurteni. whether or not then due. The 30 -day period will MOM
<br />when the camaz^e m snen.
<br />Unless Lender and BorrOw�Ie3 zrihetwise agm -e an writtgt� iay application of proceeds to principal r1rall not extend or
<br />postpone dh4 due date of the montkk payments referred to in tsrszraphs 1 and 2 or change the amount of the payment -slf
<br />under pm, imph 19 the Property is &, quired by Lender. Borst - .air's right to any insurance polities and proceeds resulting
<br />from damage to the Pruferty prior to the acquisitic,M tihail pass to Lender to the extent of the sums. ser i> i i1}r this Seetrcity
<br />Instrument immediat(.1T rtter to the acquisition.
<br />ea.' •it°ceservati;itmm4 Maintenance of Pro�t�; Leaseholds. Borrower shall not destroy, dam:g„tc orsuls�..1, Bally
<br />change the Irroperrv, ;rilow the Prgrerty to dereriizrate or Wmr1tit waste. ]f this Security Instrument is ;ra.a 1,i srJiril$,
<br />Borrower sha-11 compl-Y zith the pra�i� tuns of and 1-f Borrower acquires fee title to the Property. the' rease(told..uid'
<br />fee title shall not merg> - unless Lender agrees to the Charger iri• writing.
<br />7. Protection or Gender's Rights in tlie� Rroperty: Mortgage Insurance. if Borrower fails to perform the
<br />covenants and agreements contained in this Secunty Instrument. or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the %alue of the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority o%cr this Security
<br />Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower
<br />requesting payment.
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