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<br />UNIFORM COVRNANn. Borrower and Lender covenant and agree as follows: W-4106857
<br />1. pay of PtWpal oW Intersat; Pmpayinent and Late Charges. 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 />L Fatada for Taxse; wad hwraan. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to Lander on the day monthly payments arc due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />oo-e twelfth ofd (a} yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />kwebold payments or ground rents on the Property. if way: (c) yearly hazard insurance premiums; and (d) yearly
<br />awrtgage insurance premiums, if any. These itenns are called "escrow items." Lender may estimate the Funds due on the
<br />basis of eurratt data and 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 by a federal or
<br />stau2e agency (including Lander if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is anade or applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Harrower. 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 />than 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,
<br />sit Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds hold by Lender is not sufHcitni to pay the escrow items when due, Borrower shall pay to Lender any
<br />iumount necessary to make up the deficiency in one or more payments m required by Lender.
<br />Upon payment in full of all aunts secured by this Security Instrument, lender shall promptly refund to Borrower
<br />any Funds held by Lander. If under livagraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the axle of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit spin-st the sumssecured by this Security Instrument.
<br />3. Applkatloot of Payments, 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 tbe Note; second, to prepayment charges due under the
<br />Note; dhird, io•u'mounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Cbanm L•iem. Borrower shall pay all taxes, p— rnents, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay than on time directly to the person owed payment. Bommer shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />recelpts evidencing the payments.
<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 holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien 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. Haaard Iawranee. Borrower shall keep the improvements now existing or hereafter erected 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 />AH insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lander shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance
<br />carrier and Lander. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will begin
<br />when 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 tight 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 />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Propertd; 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 norrower acquires iee 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 Leader's !tights in the Property; Mortgage Insurance. If Borrower fails to perform the
<br />cosenan is and agivemenats contained in this Security Instrument, or there is a legal proceeding that may signaficantly affect
<br />Leader's rrgbts on the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />regWaaml,. then Lender may do and pap !or whatever is necessary n., protect the value of the Progeny and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has pnonty over this Security
<br />Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so
<br />Any amounts disbursed by Lender under this paragraph 7 shall become adder. —z-nal debt of Borrower secured by this
<br />Security Instrument. Unless 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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