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<br />gg- 105&CO
<br />UNIPoRMCovENANTs. Borrower and Lender covenant and agree as follows:
<br />1. Paymat o(Priaelpal turd Interest; Prepsymeat gad 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 1!',ttada for Taxes and Inpus % Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due udder the Note, until the Note is paid in full, a sum ("Funds") equal to
<br />one - twelfth of (a) yearly taxes and.usessments which may attain priority over this Security Instrument; (b) yearly
<br />Leasehold payments or gmund 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 staid reasonabiaestimates of future escrow items.
<br />The Funds shall be geld in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />stalte *trey,(ir dadifiglAnder if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lentidt-may atot,cWge forhoWing and applying the Funds, analyiing the account or verifying the escrow items,. unless
<br />Lendtc pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Laklieamay 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 ariy interest or earnings on the Funds. Lender
<br />shall Site to Borrower, without charge, ati anmslt) accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the. Finds was made. The P nds are pledged as additional security for the sums secured by
<br />this Security Instrument .
<br />If the amount of ft Funds held by Lender, together with the futt:..:•e monthly payments of Funds payable prior to
<br />the due dates of the ew, items, shall exceed the amount required to gal 6ffit: escrow items when due, the excess shall be
<br />at Borrower's optiotr, i4ber promptly repaid to Borrower or credited tc 116 tzwer cm-monthly payments of Fur& - If th—r
<br />amount of the Funds'held by Lender is not sufficient to pay the escrow i~er Ivlm do�?Borrower shall pay to Le r arty
<br />amount necessary to make up the deficiency in one or more payments as req'&ed by.,L6- (der. '
<br />Upon payment its full of all sums secured by this Security Instrt><va?t, Lender shall promptly refund to Borrower
<br />any Funds held by Leer. If under paragraph 19 the Property is sold or acquired by Lender, Leader shall apply, no later
<br />than immediately prior to the sal: of the Property or its acquisition by Lender, any��unds held `ty Lender at the time of
<br />application as a credit against thewaits secured by this SecuiTil Instrument.
<br />& AppliesNon of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 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 />C, Ckargeg Lleas. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priCITUT.,over this Security Instrument, and leaseho'd:p3yments or ground revs, if any.
<br />borrowershall paythese obiigatapr to the tmalmerprowded in paragraph 2, or if i i4 3,uid i.. thw. rt;at►...r,114r:d »: r t
<br />pay them on time directly. td the gson owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this pit rpph. if Borrower. >� &,es these payments dirmLly. Borrower shall promptly furnish to Leader
<br />receipts evidencing thepauy�tier[ts
<br />Borrower shall promptly uisdharge any lien which 'nos; priority over this Sec°s� 4— Instrurzvani unless Borrower: (a)
<br />agrees in writing to the payment aY'ihe obligation secured by the lien in a manner accW. able to Lender, (b) comests in good
<br />faith the lien by, or deft -As against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to • .
<br />prevent the enforcemeriA rat. tire re :
<br />e lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien a..
<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 sx ich 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 anions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Bcrm;:cr shall keep the improvements now existing or here-after erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and. any other I,,izards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for thr. Mods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to 4sirrjer's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shalt include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender rdgwires, Borrower shall promptly give to Lender
<br />all tticeipts of paid prerniuras and renewal notices. In the event of lush. Burrower sruiic -give prompt nonce to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borro•il ►.`a*.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds 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 feasit',ie or Lender's security would be lessened, the insarance proceeds shall be
<br />applied to the sums secured by this Security C. strument, whether or not then due, with any ex4mss paid to Borrower. If
<br />Borrower abandons the Property, or does not answer will; ;a .30 days a notice frotr, f e-. filer that a :e insurance carrier has
<br />offered ter, t;rttle a claim, then Lender may collect the insurance proceeds. Lender may ese the proceeds to rcT.aW or restore
<br />the Property or to pay sums secured by this Sec iu "Tity Instrument, whetliesr, or not ilt►eo dbe. The 30-day portal will begin
<br />when the notice is given.
<br />Unless Lender: and Borrower otherwise agree in writing, any a ;plication of prdxeeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 archange the amount of the payments. if
<br />under paragraph 19 the Property is acquired by Lender. Borrower's rig`t to any irsurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lendcrto the extent of the 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 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 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 In 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 affect
<br />lender's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay for w hatever is necessary to protect the %slue of the Property and Ixtider's rights
<br />in the Property. Lender's actions may include paying any sums secured by a hen which has pnoniy o%er this security
<br />Instrument, appearing in court. paying reasonable attorneys fees and entering on the Pry -perry to make rep aim. 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 additional debt of homier Secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment. these amounts %hall hear interest from
<br />the date of disbursement at the 'Note rate and shall be payable. with utteresi. upon notice from I ender to Bornoucr
<br />requesting payment.
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