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<br />900' 106495
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Paytttat of Prlac pd sad latrMU Propyweat sad Late ChIM a. Banower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Fvy* for Taxes sad Invisaae. Subject to applicable law 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 premiums6 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 />sate 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 an the Funds and applicable law pertnits Lender to make such a charge. Borrower and
<br />Lender may agree its writing that interest shall be l id an the Funds. Unless an agreement is made or appticatrlc law
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. I=der
<br />shall give to Borrower, without charge, an antral &recounting 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 additional 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 prior to
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess si4rdl be.
<br />at Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the F=ds held by Lender is not sufficient to pay the escrow items when due, Borrower _4AU pay to Lender any
<br />amount necessary t* make up the deficiency in one or more payments as required by Lender.
<br />Upon Mmtient in full of all sums secured by this Security Instrument, Lender ,*Wl pram lvcly refund to Borrower
<br />any Funds be$b cry Leader. If under paragraph 19 the Property is sold or acquired by LefTJdY.m ,1=i&.,r shall apply, iro later
<br />than imarodsaltrdy im for to the sale of the Property or its acquisition by Lender, any Fnzi(4's Ilt(M 15le Lrtnder at the ttnme of
<br />application am oradit against the sums secured by this Security Instrument.
<br />3. Apokor fm of Paytaenta. Unless applicable law provides otherwise:, all payments relaxed by Lender under
<br />paw graphs 1 and 2 shall be applied: first, to late charges drat under the Note; second. to prepayment charges due under the
<br />Nov. third. to amounts payable under paragraph 2; fouri:Lh, w interest due; and last, to principal due.
<br />g. CharaM Liens. Borrower shall pay all tangy, assessments, charges, fines acrd impositions antibumbl a to the
<br />Property whirl► way attain priority. over this Security Instrument, and leasehold payments or ground remm if any.
<br />Borrower shoal pa?, f*ew obligations in the mmrmmer provided in paragraph 2, or if not paid in that ==ner. Borrower shall
<br />pay these on time diQmctly to the person email lea ment. Suipwer shall promptly furnish to Ltiri&T & notices of amounts
<br />to be paid uad= d pamgmph IT Elorr!oww &makes thew. payments directly, Borrower ,ssa]t TromF fu rn ish to Lender
<br />mapmewna=cbs theM- Meats.
<br />1>&ra'n!arr a scrap prompO r discharge my lien which has priority over this Security 26straarar m: unless Bermerw:er: (a)
<br />aS roes iii. *imam abe payment of the oblip6om secured by the lien in a manner acceptable to Lender: Qb) contests in good
<br />faith the lien by, or defends against enforcem. =t of the lien in, legal proceedings which in the Lmder."s opinion operate to
<br />prev- -t the rnfn'_sr __rnt of the lien -or forfeiture. of any pan of the Pmnerty; or (c) secures from Who holder of the lien an
<br />ap mment 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 satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Haxwd Iaaraace. Borrower shall keep the improvememtrs ►craw existing or hereafter erected on the Property
<br />insured against leas by fire, hazards included within the tease °extended =verage" and my other IDasards for which Lender
<br />requires insurance. This insurance shall be maintained Ern eke amounts and for the pe nods :hat Lender requires. The
<br />insurance carrier providing the insurance shal:C be cha! em 'by Borrower subject to II..eani ur's. appm-,ial which. sba!:u -not be
<br />unreasonably ,withheld.
<br />All insurance policies and renewals sl=U be acceptable to Lars and shall include a stanflwl srsen$W clause.
<br />Lender shall have the right to hold the popli6cs acrd reacwkis. If Lender requires, Borrower shall pyrom^aptly Sim mm Lender
<br />all receipts of paid premiums and renewal notices. In tip er.nat of loss, Borrower shall give prompt notice to tae insuorarice
<br />carrier and Lender. Lender may make proof of loss if nor wz&. promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in w nt =g, insurance proceeds shall be applied to restoration or repair
<br />of the Property.rlamaged, if the restoration or repair is economically feasible and Lender's securtt:� is not lessened. if the
<br />restoration or repay is not economically feasible or Lender's security wadd be lessened, the insxr=ce proceeds shall be
<br />applied to the sutas secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from lLaxder that the insurance carrier has
<br />offered to settle a claim. then Lender may collect the insurance proceeds. Lender xk&F aw the proceeds to repair or, restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not'tl'trez due. The 341 -day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragrap Its 1 and 2 or ghange the amount of the payments. if
<br />under paragraph 19 the Property is acquired by Lender. Bnrrower's right to any insaittnce policies and proceeds resulting
<br />from damage to the Property-prior to the acquisition shaU, pass to Lender to the extaicof the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />& f'reserration and Maintenaam of Properr , Leaseholds: Burrower shall: not destroy, damage or substantially
<br />change the Property. allow the Property to deteriorate or commit wrt!ste. If this Security Instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and
<br />fee title sball not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the
<br />covenants and agreements contained in this Security 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 value 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 over 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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