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UNIFORM COVENANTS Borrower and Lender covenant and agree as follows: when due
<br />1. Paymettt of Priaclpd std latest= Prepayttteat tmd Late Charges. Borrower shall promptly pay
<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. Funds for Tames and lasurast e. 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 of: (a) yearly tastes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground 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
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds uball be held in an institution the deposits or accounts of which arc insured or guaranteed by a federal or
<br />state agency (including Lender 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 made 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 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.
<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 sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br />amount necessary to snake up the deficiency in one or more payments as required by Leader.
<br />Upon payment in full of all sums secured by this Security instrument. Lender shall promptly refurill .) Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is mold or acquired by Lender. Lender shalt aippi -y, no later
<br />than immediately prior to the sale of the Property or its acquiseax:ti '�y Lender, any Funds heW by Lender at the time of
<br />application as a crediii against the sums secured by this Security Instrument.
<br />3, Applicaticim •oT Psymenb. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 ft;.. tY 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 dire; and last, to principal due.
<br />4. Charges; Uens. Borrower shall pay all taxes, assessments, 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 them on time direcal % to the person owed payment. Borrower 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 />receipts evidencinfo the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: t.a)
<br />agrees in wiri ling to the payment of the obhSation secured by the lien in a manner acceptable to Lender; (b) contests in gcx d
<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. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against losn 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 &grower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable u, Linder and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall PT0M z y give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt nano: t ::he insurance
<br />carrier and Lender. 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 sunss cured by this Security Instrument, whether or not Cher due, with any excess paid to Borrower. If
<br />Borrower abandons uhe 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 prneceds. 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. an% application of proceeds w, principal shall not extend or
<br />postpone the due date of the monthly payments referred to in pamgaphs 1 and 2 or change the amount cr•-Tlve payments. If
<br />under paragraph 1 Q the Property is acquired b} Lender. Borrower's right to an% insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass 1v Linder ho the extent of the sutrs secured by this Security
<br />Instrutuera immediately prior to the acyutsilton.
<br />6. Preservation and Ntainteaatrce of Proper", Leasehold. Borrower shall not evsrT,,i-. damage or substantially
<br />change the Property, allow the Propert) to deter; ^rsr:e ,n rnni mrr waste. If tots Security Occcrument is on a leasehold.
<br />Borrower shall comply with the provisions of the le iic. ind if Borrower acquiro ate title to rho Property. cbe leasehold and
<br />fee title shall not merge unless Lender agrees to the irwrger in writing.
<br />7. Protection of Lender's Rights in the Property: Monoape Insurance. If & *rrcwmr I:arbA to perform the
<br />covenants and agreementscontained in this Security Instrumer.i rhere i..i legal proccedina rhat rmxy atgnificantly affect
<br />_J.__ :_ L_..L -.. �..... ..t...,r cu .•. w,.lr,nnarr..n .N• rz rn�nrc.• liw,. or
<br />Lerraer's rigors in ire rruperi� iw�li ua a `.:.'.�t.....,p ,,, ,,.....,..r...;. �• :............. -- ••-- --- -- -- --•-
<br />regulations), then Lender may do and pay for w hatecer is necessary to protect the i aloe of the Property and Lender's rights
<br />in the Property. Lender's actions ma) include paying any sums secured h) a lien which has pnorin over this Security
<br />Instrument, apMaring in court. paying re`awinable arrorne)s' fees and entering on the Property to make repair,%. Although
<br />Len&r nay take action under this paragraphs 7. Len&-r does not has e to do its
<br />Any amounts dishursed h}• Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument. lrnless Borrower and Lender agree to other term% of pay merit, these amounts shall bear tnterest from
<br />the date of disbur,ement :u the Note rate and shall he pa)ahle. with rnterv%t. upon notice front Lender to Borrower
<br />requesting payment.
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