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<br />go. 106533 1226
<br />UNIFORM COVENANTS. Niiicgotner and Lender covenant and agree as follows:
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<br />1. Payment of Principal and Interest. prepayment and late Charges. Borrower shall promptly pay when due the
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<br />principal of and interest on the debt evidenced by the Note andany prepayment and late charges due under the Nate.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waivet by Lender, Borrower shall pay to
<br />Lender on the day monthly payments are due under the Nate, until the Note is paid in full, a sum ("Funds") equal to
<br />one•twelfth uf: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yeatty leasehold
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<br />paymentsor ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance
<br />if any. These items are called escrow items." Lender may estimate the Funds due on the basis of current data and
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<br />premiums,
<br />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 b • a federal or
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<br />htstteagency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay theescrow items - Lender
<br />may not charge for holding and applying Ilia Punds. analyzing I lie account or verifying the escrow items. untm Lender pays
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<br />Borrower intereiton the l unds and applicable low permits Lender In rm- A&-wrh acharge. Borrower and Lender may agree in
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<br />writing that inw -c-c ;a: sJi,, Jl be paid on the Funds.Unless an agreement: applicable law requires interest to be paid.
<br />Lecuter, sJtall; real, be a.-qxi curd: in p r-p Borrower any interest or earnings on else Faands. Lender shall give to Borrower, without
<br />charge, Ac•IgitpQ�PM ac-Counting of the Funds showing credits and debits to ehe Funds and the purpose for which each debit to the
<br />Funds was made. Tire funds are pledged as additional security for the sunns secured by this Security instrument.
<br />If the amount of the Funds held by Lender. together with the future monthly payments of Funds payable prior to the
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<br />due dates of the escrow items, ihal exceed the amount required to pay the escrow items when due. the excess shall be, at
<br />Borrower's option, either promptly repaid to Borrower ur credited to Burrower on monthly payments of Funds. if the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
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<br />Upon payment in full of all sums secured by this Security instrument, Lender shall promptly refund to Borrower any
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<br />Funds held by Lender. If under paragraph awl the Property is sold tit acquired by Letider, lender shall apply. no later than
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<br />immediately prior tothesaleof the Propertyor its acquisitionhy Lender. any Funds held by Lender it the timeofapplication
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<br />as a credit against the sums secured by this Security Instrument-
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<br />i. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />due the
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note: second, to prepayment charges under
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />3. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
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<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Burrower
<br />shall pay these obligations in the manner provided in paragraph 2. or if not paid in that manner. Borrower shall pay them on
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<br />time directly to the person owed payment. Burrower shall promptly furnish to Lender all notices of amounts to be paid under
<br />this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing
<br />the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to rite payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
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<br />faith the lien by, or defends against enforcement of the lien in, legal prod- gs w hick in the Lender's opinion operate to
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<br />prevent the enforcement of the lien or forfeiture of any part of the Prop%o n:t•:. cr ;'ei'skmres from the holder of the lien art
<br />agreement satisfactory to Gender subordinating the lien to thisSecurery W-,—im siaent. If Lender determines that any part of the
<br />Property is subject co a lien which may attain priority over this Cnstrument, Lender may give Burrower a notice
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<br />i4an6;f -, ing the lien. Borrower shall satisfy the lien or takr; wrrc • i a - arr,aE the actions set forth above within 10 drys: uC the
<br />gi%: 3& of notice.
<br />S. Hazzard Ectsiuea ce, Burrower shall keep the ia�ptacr ^t° cs c +jw existing ur hereafter erected on the I"rJperty
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<br />imuced against lrish: byr Eire. 6saards included within the term ' C]tL� i �. tuage" and any other harards for which Lender
<br />rag - insurhreir. ' This Lasiirance shall be maintained in at: 2^TQ!]7_S _cd for the periods that Lender requires. The
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<br />uasV :.znce carrier providictlt :1Jhe insurance shall be chosen by Bo,-no --wer s«bfee t to 1:c42der's approval which shall not be
<br />tw.natsonably !withhelit
<br />All insurance policies and renewals shall be acceptabl'rca d erg raffish zll •f .a3F: •a standard mortgage clause. Leader
<br />shall have the right to hold the policies and renewals. If Lender re u acs. Bzm)wer shall promptly give to Lender all receipts
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<br />of paid premiums and renewal notices. in the event of loss. Brrnlo.r:r s z,Dgive prompt notice to the insurance carrier: and
<br />Ler1.&- . i:e^der may make proof of loss if not made promptly b:;
<br />Lr +.fi cs Lender and Borrower otherwise agree i0 v.•ra:w ::i,iwcaiC2 proceeds shall be applied to restoratitms,r- v =%nr
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<br />Of 15w 1 i14pei`ty damaged, if the restoration or repair is r�_rux:�iic GG,..'.easible and Lender's security is not lessil-LLI 1f the
<br />ra vt3-,nzahn a..eepair is not economically feasible or letf�vs �etzu ,--v r •old be lessened, the insurance proceeds s3�a1} be
<br />applied to the sums secured by this Security instrument., ial ^ ^erhr:r D�ri_c then due. with any excess paid to Borrower. If
<br />I3acrowvr,abapdons„the Pr9pvrty, or does nut .answer wide , z0'd:ags,.a oGa :cte'frum Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the i mura.i.-i 13 rec�A:,L -: Lender may use the pructds to repair or restore the
<br />Property or to pay sums secured by this Securi ty Instrui= - Ir. ui tliec r &)t then due. The i0 -day period will begin when the
<br />notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any a pVcauon of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments if
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<br />under paragraph l9 the Property is acquired by Lender. Brcx awer•s right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to tfie scquisitiofo ihAI pass tai Lender to the extent 6f the sums secured by this Security
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<br />Instrument immediately prior to the acquisition.
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<br />6. Preservation and Maintenance of Property; Leaseholds. Harrower shall nut destroy. damage or substantially
<br />change the Property, allow the Property to deteriorate ur commit waste if this Security instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease..ind if Rorniwer ,icyaires fie title to the Property. the leasehold and
<br />fee tide shall not merge unless Lender agrees ni the merger in writing
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Hutr4 me•r tads to pc•rfurm the covenant,
<br />and agreements contained in this Security instrument. or there is a le;a;al prmu ding that may significantly affect Lender's
<br />rights in the Property (such asa procceding in bankruptcy. probate.foriondcnination tarr oentortetawsorregulationsi,then
<br />Lender may do and pay for whatever is necessary to protect the c slue of the Vrope•rty and i.endc•r•s rights in the Property.
<br />Lender's actions may include payingany sums secured by a Lienw hich has prioncy w6er thisSecurity Instrument. appearing in
<br />court, paying reasonable attorneys' fees and entering an the Property nr make- repairs. Although Lender may cake action
<br />under this paragraph 7, Lender dues nut have toy do so
<br />Any amounts disbursed by lender under this patagtaph 7 shall become adca:itirtal debt of Burrower st��are±� by this
<br />Security ilcstrucarni. Unless Borrower and Mader arreetoo,h-ea terms of payni'tnE, resew asnouats sh�nil bear ira'e:esi from
<br />cLredate of disbursement at the Note rare and s?aaL[ be pay;able,w•itlainterest. nr for nr+.1..e ic(in l eLii�e::o IDurrowrr req.aestirrf;
<br />peyrnenr.
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