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«- �1 +� SO-A0660 UNIFORMCOVENAWM Borrower and Lender covenant and a ;Tee as follows 1. Paytaat of Ptiaeipd gad Interest: Plrepytaeat gad Late Ckarges. Borrower shall promptly pay when due r <. , the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Raab felt Taxis and Iasaraaee. Subject to applicable law 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 one- twelfth of. (a} yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly letwhold payments or ground tarts on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly ampp insurance premiums, if any. These items are called 'escrow items.' Lender may estimate the Funds due on the basis of current data and reasonable estimates of future escrow items. The Funds shall be hell in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (including Leader if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the !Funds. analyzing the account or verifying the escrow items, unless Lender pays Borrower interest on the Funds and appticable law permits Lender to make such a charge. Borrower and � Lender may agree in writing that interest shdl be trait oa. the Funds. Unless an agreement ir. made or applicable taw requires interest to be pall. Lender shatl not be required to pay Borrower any interest or earnings on the Foods. Lender shall give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the l purpose for which each debit to the Funds was grade. The Funds are pledged us additional security for the sums secured by this Security Instrument. If the amount of the Funds held by Leader, together with the future monthly paymreats of Funds payable prior to the due dates of the escrow items. shall exceed the amount required to pay the escrow items when due, the excess shall be. at Borrower's option, either promptly repaid to Borrower or credited to Borrower on month! y payments of Funds. If the 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 wore payments as required by Lender. Upon payment in flit! of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. if under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply. no later than immediately to the sate of the Property or its acquisition by Lender. any Funds held by Lender at the time of ; , •.,r r, ;+,;c prior application as a credit against the stuns secured by this Security Instrument. 3. Appliesdat of Paywesta. Unless applicable law provides otherwise, all payments received by Leader under paragraphs 1 and 2 shall be applied. first. to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. y 6. Auger Liens. Borrower stall pay all taxes, assessments. charges. fines and impositions attributable to the � ;'.• Property which may attain priority.over this Security Instrument. and leasehold payments or ground rents, if any. Borrower shall pay these obhigations in the manner provided in paragraph 2. or if not paid in that manner. Borrower shall ! pay them on time directly to, the person owed payment. Borrower shall promptly Ctimish to Lender all notices of amounts to be paid under this parkqmh. If Borrower makes ci5.ese payments directly, )Borrower shall promptly furnish to Lender receipts evtrhsxcuig tiv: ¢Sa��dfis Bmmimer do M p!mam Ptly dischary any lien wkch has priodj:y over this Security Instrument unless Borrower. f a) agrees in waiting to the M==t of the s 4igation secured by the oieu:& a manner acceptable to Lender; (b) contests in good. faith the lien by, or det`emsis against ei £fur ement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or fbr6riture of any p&rt of the iropgi t3; or (c) s=ur. - from the holder of the lien an agreement satisfactory to Lender suberrbnting the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien whidT may attain priority over tIds Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower sb.Ti t satisfy the lien or take oa.eor more of the actions set forth above within 10 days of the giving of notice. S. Htarard IwAitttmn-, Borrower shall keepdxe i -apraxwnmts now existing or hereafter erected on the Property insured against loss by fire. ).•sasards included within 4te tr rm nekte6W coverage ' and any other hazards for which Lender requires insurance. This H'MSVZ tce shall be maintaiired in the mounts and for the periods that Lender requires. The insurance carrier providing • dke ksurama shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. AB insurance polira,es =2 re*als shall be acceptable to Lender and shall include a standard mortgage clause: Lender shall have the riip.t: to hold the policies and renewals. If Lender requires, Borrower shall promptly to Lender all receipts of paid premium and renewal notices. In the event of loss. Borrower shall give prompt notice t6 t Weinsurance carrier 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 rest:v p,on or repair of the Property damaged. if the restoration or repair is economically feasible and Lender's seenrity is curt fieiserted. If the restoration or repair is riot economically feasible or Lender's security would be lessened, the insuranoe'ftnioieds shall be applied to the sums secutud by this Security Instrment, whether or not then due-- with any excess paid to Borrower. If Borrower abandons the'Froperty. or does not answer within 30 days a notice Crum Lender that the insurance carrier has offered to settle a chi= then Lender may collect the insurance procceds. Lender may use the proceeds to repair or restore the Propi my, or to pay sums secured by %his Security instrument. whether or not then due. The 30-day period will begin when the notice is gi>t<err.. Unless Letxdei ttari, Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or postpone the due dar6of die monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 14 0jz i roperty is acquired by Lender. Borrowers right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately. prior to the acquisition. 6. Presuration•tfnd Maintenance of Property; Leaseholds. Borrower shall not destroy. damage or substantially change the Property; allow the Property to deteriorate or commit waste. If this Sexunty Instrument is. on a leasehold. Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Property, the leasehold and fee title shall not merge unless Lender agrees to the-merger in writing. 7, Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the covenants and agreements contained in this Security Instrument. or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy. probate. for condemnation or to enforce laws 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. Lender's 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 amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, % tth interest, upon notice from Lender to Borrower requesting payment.