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<br />UNIFORM COvENAitTS. Borrower and LaWo covenant and agree as follows: 8 '105-28
<br />11. 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 Nett.
<br />L Fw k for Taxes oast Inswanee. 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 or. (a) yearly tales and assessments which may attain priority over this Security Instrument; (is) yearly
<br />larsehold payments or Vmnd rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
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<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed bl; a feller ar
<br />state agency (including %ender if Lender is such an institution). Lender shall apply the Funds to pay the escrow itons.
<br />LAinder may tt A- Chdrse -for bbddin j and applyinj the Rinds, analyzing the account or verifying the escrow items; uhl6s
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. I3errttw,er "turd
<br />Lttatder stay agree in writing that interest shall be paid on the Funds. Unless an agreement is made ar applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Fund&1ender
<br />sW give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purlme for which each debit to the Funds was made. The Funds are pledged as additional security fer the sums secured by
<br />thisSecurity Instru rent.
<br />V 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 itema.a•,fien -due,. th excess shall be,
<br />at Borrmer's option, either promptly repaid to Borrower or credited to Borrower on monthly, paym' ents of Funds. ;.
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrovt er shaff ray to Lends c js.-
<br />amount necessary to matte up:the deficiency in one or more payments as required by Lender.
<br />Upon payment in fuRef all sums secured by tltis Security Instrument, iA�ii W. shalt promptly irt#M3o Borrower
<br />any Funds held by Lender. If under paragraph ,i 9 the !xt corny is sold or acquirers Es p- E*2dcr,. Lenders, • :apply, no later
<br />than immediately prior to the sale of the Property at its, acquisition by Lender: and f" cjtrd3 by LwAlli.at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. AppHeadm of ftyneats. Unless applicable law provides otherwise, all payr im6 r.weived.by Lender under
<br />paragraphs 1 and 2 shallbe applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third. to amounts psyipble under poragaahh 2; fourth. to interest due; and lust, to principal due.
<br />4. 4liorlw Lhem Borrower shall pay all taxes, assessments. charges. fines and impositions attributable to.rbe
<br />Property which ".:may. attain.priority over this Security Instrument, and leasehold payments or ground rents, if amy
<br />Borrowrer shall pays here obligations in the manner pry vided in paragraph 2. or if not paid in that manner,. Borrower shall
<br />play. them on time directly tgff1 Ixrson owed payment Borrower shall prorpr%.ltyt fi-irnish to Lender all nratl;cxts of amounts
<br />to be Raid: under this Pat4r4li.,lf Borrower makes these payments directl3.131u,ower shall promptly C' yinish to Lender
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<br />Borrower shall promptly discharge any lien which has priority over this Security instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the hol&.r of the lien an
<br />1 agreement satisfactory to Lender subordinating the Jim 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. lllarard Ins mce. Borrower shall kccp the improvements now existirig or hereafter evectcd on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a :,tand3rd irrortgage clause.
<br />Lender shall We the r- Fah ca hold the policies and renewals. If Lender requires, Borrower stall promptly give to Lender
<br />all receipts of p: hl l cw. ;r,.,: ;ear and renewal notices. In the event of Ia&u.Borrower shall gisv- ri-,y. rcpt notice to the insurance
<br />carrier and Len&tx.. i. —nder i*Say make proof of loss if not made promptly by Borrower.
<br />Unless Lender and lik- ;-ower otherwise agree in writing, p -mt rd y shall be applied to restoration or repair
<br />of the Property damaged, if tM restoration or repair is econemicaly feasible sus ►t Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's would be lessened, the insurance proceeds shalt be
<br />applied to the sums secured by this Security- instrument. whi her, or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property. or dots; resit answer within 30 d y% a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance pros-=$ tender may use the proceeds to repair or restore
<br />the P'rnperty or to pay sums secured by this Security Imtrument, whether or nrs then due. The 30 -clay lterixW will begin
<br />*h n, Late notice is given.
<br />Unless Lender and &grower othercviseagree in writing, ar,-trapiplication of proceeds to principal Poi l not extend or
<br />postpone the due date of the monthly pae men is referred to in paragri.phs 1 and 2 or change the amount c0fn paymems. if
<br />under paragraphs ) - the Property is acquire& by Lender, Borrower's right to any insurance policies and pn,,�-,eeds resulting
<br />from damage to the Property prior to the acquisition shall pass to tender to the extent of the sums secured, by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Prtritenation tad :Nafaftitance of Property; Leaseholds. lJorrow•er Shall not destroy, damage or substantially
<br />change the Property, allow thq 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 fee 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 fit 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 afrect
<br />Lender's hithts in the Property (such as a proceedinc in hankruptcy, probate, far condemnTtinn (,r eo enforce Lws or
<br />regulations). then Lender may do and pay for whatever m necessary to protect the value of the Property and Lender'~ rights
<br />in the Property. tenders actions may include paying any sums secured by a lien which has priority over this Security
<br />L Instrument. appearing utcourt, pitying reasonable attorneys* fees and cntennb on the Property to make repairs Although
<br />Lender may take action under this paragraph 7. Lender does not ha%c to do co
<br />Any amnunrc disbur3ed by Lender under this paragraph 7 shall becorne additional debt of Borrouer sccured by this
<br />Securer) Instrument Llnlm Honower and Lender agree to other terms of pay ment. the',_ arnounts shall bear riiterest front
<br />the date art disbursement at the %rtc rate and shall he payable. tvith iwe:e%t. upoll notice firm Lc rider to ll„rroucr
<br />re,riuMing I+aytneiit
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