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r 'A .. r •— hA 14 ` t. i•• �rl.::r 90�c86o UNIFORM COVENANTS. Borrower and Lender nt vindna� Cdhaag as Borrower . shall promptly pay when duetha 1. Pa)Ilttflntol PrinolpN and IntereeN, Ptepaynte principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. FundaforTaxse and Insurance. Subject to applicable law or to a written waiver by lender. Borrower shall pay to Lender on tho day monthly payments are due under the Note. until the Note is paid in full, a sum ( "Funds ") equal to one - twelfth 01; (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly Isawhold payments or ground rents on the Property. If any; (c) yearly hoard insurance premiums; and (d) yearly mortgage insurance premiums. If any. These Items are called "escrow items " - Lender may estimate the Funds due on the basis of current date 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 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 applicable law permits Lander to make such a charge. Borrower and Lender may agree in writing that Interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be 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 the Security Instrument. ;f ;he amount of the Funds held by lender. together with the future monthly payments of Funds payable prior to the due dalesof the escrow items, shall exceed the amount required to pay the escrow items when due. theexcess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. It 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 more payments as required by Lender. Upon payment in lull of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds hold by Lender. If underparagraph 19 the Property is sold or acquired by Lender. Lender shall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 8. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender 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. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges. fines and impositions attributable to the Property which may attain priority over this Security Instrument. and feasehoid payments or ground rents, if Any. Borrower shall pay these obligations 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 furnish to Lender all notices of amounts to be paid -ruder this paragraph If Borrower makes these payments directly. Borrower shall promptly furnish to Lender receipts evidencing the payments Borrower shalt promptly discharge any lien 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 Iren or forfeiture of any part of the Property: or (c) secures from the holderof the lien an agreement salisfactory to Lender subordinating the lien to this Security Instrument. It Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument. Lender may give Borrower notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. S. Huard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals It Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of joss. Borrower shall give prompt notice to the insurance 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 shalt be applied to restoration or repair of the Property damaged. if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically leasib ie or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender maycollect the insurance proceeds. Lender may use the proceeds to repair or restore the Property r• to pay sums secured by this Security Instrument, whether or not then due The 30 -day period will begin when the notice is given Unless Lender and Borrower otherwise agree in writing, any applicat on of proceedsto principal shall notextend or Postpone the due date of themonthivpaymentsreferredtoinparagraphsIand2orchangetheamountofthepayments If under paragraph 19 the Pro; e•:,..sacquiredby Lender. 8orrower's right to any insurance policies and proceeds resurtmg from damage to the Property prior to the ac,1. ,citron shalt pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acq�:is-1i, n 8. Preservation and Maintenance itio Property; Leaseholds. Borrower shall not destroy yr xarnage or substan- tially change the Property. allow the Property to deteriorate or commit waste If this Security Instr;j —e t is on a leasehold. and if Borrower acquires lee 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. It Borrower falls to perform the covenants and agreementscontained 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 sun:: secured by a hen 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 paraqraph 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 snarl bear interest from the date of disbursement at the Note rate and snail he payable. with interest. upon notice from Lender to Borrower requestng payment.