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<br />106956
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Patylsals, of primiltad Md latereaq priapynt"t OW 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 />lasurann. Subject to applicable law or to a written waiver by Lender, Borrower shall PUY
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<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 />over this Scointy Instrument; (b) yearly
<br />one•twelfth of. (a) yearly taxes and assessments which may attain priority
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />ELI—,
<br />mortgage Insurance premiums. if any. TI -se 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 />1171he Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Leader Is such an institution). Leader shall 4PPIV the Funds to pay the escrow items.
<br />for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender may not charge
<br />Lent pays Borrower interest on the Funds and applicable low permits Lender to make such a charge. Borrower and
<br />Funds. Unless an agreement is made or applicable low
<br />Leander may agree in writing that interest shall be paid on the
<br />requires interest to be paid, Leader shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />Funds and the
<br />shall give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the
<br />The Funds are as additional security for the sums secured by
<br />purpose for which each debit to the Funds was mwk• pledged
<br />this Security Instrument,
<br />if the amount of the Funds held by Leader. together with the Wture monthly payments of Funds payable prior to
<br />items when due, the excess shall be,
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow
<br />to Borrower on monthly payments of Funds. If the
<br />at Borrower's option, either promptly repaid to Borrower or credited
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower s hall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as req uired by Lender.
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<br />Upon payment in full of all sums secured by this Security Instrument. Leader shall promptly refund uo Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />its by Lender, any Funds held by Lender at the time of
<br />than immediately prior to the sale of The Property or acquisition
<br />application asacredit against the sums secured by this Security Instrument.
<br />3. Application 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 the Note; second, to prepayment charges due under the
<br />Note. third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />charges, fines and impositions attributable to the
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments,
<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 t hat manner, Borrower shall
<br />pa Y them en time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be under this If Borrower makes these payments directly. Borrower shall promptly furnish to Lcadto
<br />paid paragraph.
<br />receipts 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 pa!•ment 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 Lencler's opinion operate to
<br />Property; or (c) secures from the holder of the lien an
<br />prevent the enforcement of the lien or forfeiture of any part of the rt
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. if Lender determines that env Part of
<br />the Property is sulljcct to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />notice
<br />of the giving of notice.
<br />5. Hmrd Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />hazards included within the term *'extended coverage" and any other hazards for which Lender
<br />insured against loss by fire,
<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 s-hall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender
<br />t.
<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 Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />insurance shall he applied to restoration or repair
<br />Unless Lender and Borrower otherwise agree in writing, proceeds
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is net lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />by Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />applied to the sums secured this
<br />BoffOWCT 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 />secured by this Security Instrument, whether or not then due. The 30•day period will begin
<br />the Property or to pay sums
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application (if proceeds to principal shall not extend or
<br />due date referred to in paragraphs I and 2 or change the amount of the payments. If
<br />postpone the of the monthly payments
<br />under paragraph 19 the Property is acquired by Lender. Borrm, eT-',; right to any insurance pt, icier and proceeds resulging
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of t he sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property., Leaseholds. Borrower shall not destroy. damage OT substantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leaschold.
<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 -A ming.
<br />7. Protection of Lender's Rights in the Property; 'Mortgage Insurance. If Borrower fails to perform the
<br />. . . . — - I . _ _, _ __ . k. ... _ . a..if—dw ulrMf
<br />covenants and agreements contained III InI% 3ccurll%
<br />Lender's rights in the Property (such as a prtvveding in bankruptcy, probate, for condemnation or to enforce law, or
<br />regulations). then Lender may do and pay for whatever is necessary to protect the %alueof the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Secunq
<br />in reasonable attorneys * fees and entering on the Property to make repairs. Although
<br />Instrument, appearing court, paying
<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 additional debt of Borrower secured by this
<br />Security Instrument- Unless Borrower and Lender -agree to other terms of pa) ment. these 3m(,uiit% shall bear interest from
<br />from Lender to narrower
<br />the date of disbursement at the %vtt rate and shall he patjole. with intere-.1, up,r. ttott,:c
<br />requesting payment.
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