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<br />90x'10064 1
<br />UNIFORM CVVENANW Borrower and Lender Covenant and agree as follows:
<br />1. Paytaeat at Ptiadpl aatl ItrmereaR Prepayment aced Late �a:zes. Borrower 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. Fangs for Taxes rani Insarance. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to Leader 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
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<br />leasehold payments or around rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
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<br />mom. insumce premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
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<br />basis;ofcruretrt: gala: rartdnasottableestimatesoffirlurt :escrowUcros.
<br />T13e>: iutris .Y]1 tit held in an insritutirnr the deposits or accounts of w hick we insured or guaranteed by a federal or
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<br />stare a}pnM (jrrrdlrr'JJiraakg Tlasrit'r if Lender is such an institution). Lender shall apply the Funds to pay the escrow items
<br />Tether =*� inn: cWqp Wr 4alding and applying the Funds, analyzing the account or verifying the escrow items, unless
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<br />Leader pays Sp=war interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lemke niay agtw ra writing that interest shall be paid on the Funds. Unless an aZTeement is made or applicable law
<br />requires interest to be paid. Leader shall not be required to pay Borrower any interest or eamings on the Funds. Lender
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<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 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 shall be.
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<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 Funds held by Lender is not sutllcient to pay the escrow items when due, Borrower shall pay to Lender any
<br />amount necewry to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Fur4s held by Lender. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply. no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Applicadwe of Psymeata. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied; first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth. to interest due; and last. to principal due.
<br />4. CkarM lAess. Borrower shall pay all taxes. assessments, charges, tines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents. if any.
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<br />Borrower shall pay these obligations in the manner provided in pwagrq t. 2. or if not paid in that manner. Borrower shall
<br />pay them on time directly to the person owed payment:. Borrower shaPJ.' r.-uratptly furnish to Le,Tder all notices of amounts
<br />to be paid under this p a;6,. If Borrower makes these payments aunziy, Borrower shall promptly furnish to Lender
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<br />receipgevidencaotigrli�pagr�2an�.
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<br />Borrow= sbg promptly discharge any lien which has priority oxe,_ this Security Instrument unless Borrower: (a)
<br />agrees in writi mg tiro the payment of the obligation secured by the lien in a manner acceptable to Lender, (b) contests in good
<br />faille the §= by, or defends against enforcement of the Gen in, legal proceedings which in the Lender's opinion operate to
<br />pwf=2 rare enfioesement of the Gen or forfeiture of any p=t of the Property; or (c) secures from the holder of the lien an
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<br />aares t saRi iacaory to Lender subordinating the lien to. this Security Instrument. If Lender determines that any apart of
<br />the Paaapeaty its szAect to a lien which may attain priority over this acu my Instrument, Lender may give Borrower a
<br />notice id=d4iit nbe lien. Borrower shall satisfy the lien or take cite ci7 rrvsre of the actions set forth above within 10 days
<br />of t6re giviing of rstr¢aoe.
<br />S. lFtasari laweastat: Borrower shall keep the improvements ma exisdng sae hereafter erected on the Property
<br />inswcd agab lossb+y Ere, bbads included within the teem - extended oa aerage" and w y other hazards for which Under
<br />requnt;es iitosmrawcm This insurance shall be maintained me fte an muz and for the periods that Lender cequirm T. he
<br />insurance carner providing the insurance shall be chosen by,Borroaer subject to Lender's approval. which sha1Q aaot b-e
<br />82 lms ab�F wM1tih}teld.
<br />AM insurance policies and renewals shall be aceep a Nye to Lender and shall include a standard mortgage clause.
<br />Undiers>laiH have the right to hold the policies and renewals. If lender requires. Borrower shall promptly give to Bonder
<br />aM receippss ofpaid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance
<br />card4w and Lem. Lender may make proof of loss if not made promptly by Borrower.
<br />.' Vaaless Leader and Borrower othemme agree in writing, insurance proceeds shall be applied to restoration or repair
<br />aDf ttlhe l? t9wa)v aE waged. iC ON: restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />trestatsIde m cc xepaw is nor a=omically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />IzN irtd to the status secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />at�M'' affia>mdani the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered tose¢t9e a •claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />tlhe Pipperty or to pay sums secured by this Security Instrument, whether or not then due. The 304ay period will begin
<br />wNtm 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 paragraphs 1 and 2 or change the amount of the payments. if
<br />under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrum=1 immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Propertb, Leaseholds. Borrower shall not destroy, damage or substantially
<br />change the Property. allow the Property to deteriorate or commit waste. if this Security instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires tee title to the Property. the leasehold and
<br />fee title shall 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 />Larder's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />Nations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br />in tilke property. LmdWs =runs may include paying any sums secured by a lien which has priority over this Security
<br />p �'Inpanagal.rxsurn. pay-in.g ran -u able attorneys' fees. and entering on the Property to make repairs. Although
<br />Fi ti�eEmmu�t r iutn.earn sObsparagraph .7, Lender does not havetodoso.
<br />dk ttyxi: nunt9 divbursail by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Sbctrrq, Lust rumen. Ylecless 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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