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90-106626 j��` f _cis UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal sad Iatereet; Frzpayraertt tmd lasts Clrnrges. Mrro%ver shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and 13te charges due under the Note• 2. Fumb fvr Taxesatad Iftsurtutce. Subject to applicable la%v 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 ortg-twelflh of- (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly leawhold payments or ground rents on 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 estunate the Funds due on the basis of current data and reasonable estimates of future escrow items. The Funds shall be held in an institution the deposits or 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 pity the escrow items. Lender may not charge for holding and applying the Funds. analyzing the accouni or verifying the escrow rtcros, unless Leader pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower law Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable requires interest to be paid, Lender shall not b'e required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Security Instrument. if the amount of the Funds held by Lender, togetlier with the future monthly payments of Funds payable prior to the due dates of the escrow items. shall exceed the amount required to pay the escrow items when due, h of ce d shall If he at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any amount necessary to make up, the deficiency in one or more payments as required by Lender. Upon payment in full of all sums secured by this Security instrument. Lender stroll promptly refund to Borrower no later any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Linder, Lender shall apply. than immediately prior to the sate of the Properly or its acquisition by Lender. any Funds held by Lender at the time of application as a credit against the sums secured Pay thisSecurity Instrument: & Application of Payments. Unless applicable Late provides otherwise. all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to late charges dim under the Note; second, to prepayvie l: (im cges due under the Note; third, to amounts payable underparagraph 2: fottrtJr irrtnterest due; and last, to prttlwipi! Sul: 4. Chamm Lien& Borrower shall pay all taxes. as�essrnents, charges, fines itmi i:mpositnana attributable to the Property which may attain priority.over this security Instrument. and leasehold payments or ground rents. if any. Borrower shall pay these obligations in the aw.,rrx provided in paragraph 2. or if not paid in that manner. Borrower shall leery them on time directly to the person owed p;ayrttg�l:- Sm Tower shall promptly furnisls to Lender all notices of amounts to W paid under this paragraph. If Borrower re�kes the -4t- payments directly. Borrowea shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge ;wv lied 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 faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the Tim or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lcudix subordinating the lien w ciyis Security Instrument. I.f Lender determines that any part of the Property is subject to a lien which may attain priontu aver this Security Instrument, Lender may give B,Trmwer a notice idetiti —ag the lien. Borrouer'shsll i- y the li'm or take one or more of the actions set forth above within t4 days Yl of the giving of notice. S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property imm. -esd against loss by fire. hazards included within the tetras "extended coverage" and any other hazards for which Lender ce ;r�it�s insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The i.t,,m w. ce carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be rm easonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. L,�der shall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender is •receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance stainer and lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged. if the restoration, (3r_ repair is economically feasible and Lenders security is not lessened. If the restoration or repair is not economically rasible or Lender's security would be lessened. the insurance proceeds shall be aarplied to the sums secured by this Security Instrumern, whether or not then due, with any excess paid to Borrower. If ;3u-�rrower abandons the Property, or does not answer wid-un 30 days a notice from Lender that the insurance carrier has otierea ru seuir a �lai��i. i`,.w L zadcr may CoPect *hP i" GFrre^ce proceeds. Lender may use the proceeds to repair or restore the Property or ra pay sums zcdred by this Security rastrument, whether or not then due. The 3"ay period wiii bcgiu when the notice,is given. Unless Lender and Binr'ower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the.wr iathly payments referred co in paragraphs 1 and 2 or change the amount of the payments- if under paragraph 19 the Prdrem,.y is acquired by Lender„ 113rroweT s right to any insurance policies and proceeds. resulting from damage to the Proper Ty rrn4r to the acquisition s1TWI pass to Lender to the extent of the sums secured by this Security Instrument irnrnu i: ltelypriort�itEteac4ui.sitiint. 6. Preservifiita=41- trnimmitance.iXProperty: Lemhotds. Borrower shall not destroy, damage or substantially change the Property. Allow di(_ Property to deteriorate or commit waste. if this Security Instrument is on a leasehold. Borrower shall comply wilb OW- P otiisions of the tease. 'imil if Borrower acquires Pe,Yude to the Property, the leasehold and ree title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; NfortgjR! [irsurancc -. If Borrower fails to perform the covenants and agreements contained in this Security Instrument. or them is a legal proceeding that may significantly affect Lenders rights in the Property (such as a proceeding in bankruptcy, probate. for condemnation or to enforce law; 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. Lenders actions may include paying any sums secured by a lien 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 amount~ %hall bear interest from the date of disbursement at the dote rate and shall he payable, arch interest: upon notice from Lender to Borrower requesting payment. i `ii':