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- -- -- 90-- 107062 UNIFORM COVENANTS. Borrower and Lander covenant nda agree as sorrows: shall promptly 1. Payment of Prinelpaland Interest; Prepay Charges. P P y pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note 2. Funds forTaxesand Insurance. Subject to applicable low or to a written waiver by Lender. Borrower shall pay to Lender on the day monthly payments are due under the Note, until the Note Is paid in lull, a sum ( "Funds ") equal to one - twelfth of; (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly leasehold payments or ground rents on the Property, if any. (c) yearly hazard 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 data and reasonable estimates of future escrow items. The Fundsshall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or stale 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 theescrow items, unless Lender pays Borrower Interest on the Funds and applicable law permits Lender 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 creditsand debitslo the Fundsand 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. If the amour*'l of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the due dates of the escrow items. shall exceed tha amount regwrred to pay the escrow Items when due. the excess shall be. at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Lender is not sulticlenl to pay the escrow items when due. (3or rower shat l pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender Upon payrrre nt in full of all sums secuie:i ay this Security Instrument. Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 191-ne 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 Se:`:rrrly Instrument. 3. Application of Payments. Unless applicable law provides otherwise. all rw,!rents received by Lender 'ender paragraphs 1 and 2 shall be applied: first• to late charges due under the Ncte, second, to prepayment charges due.unier the Note: third, ".o amounts payable under paragraph 2. fourth, to Interest a.,e: and last, to principal due 4. Charges; Liens. Borrower sha!! Pf y all tPvPk acsmmments. charges, lines and impositions attributable to the Property which may attain priority over this Security Instrument. anti leaseholV payments or ground rents• it any. Borrower shalt pay these obligations in the manner provided in paragraph 2, or It not call in that mariner. Borrower shall pay them on time dtrertly to the person owed payment Borrower shall promptly turn ish to i_ender all nollcesof amounts to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promrl:v Itimish to Lender receipts evidencing the payments Borrower shall 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 lien or forleiture of any part of the Property, or (c) securesfrom the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this :-ecuvty Instrument. Lender may give Borrower a notice identifying the lien Borrower shall satisfy the lien or lake one or more of the actions set forth above within 10 days of the giving of notice 5. Hazard Insurance. Borrower shall keep the improvements now existing ur hereafter erected on the Pr7 �erly insured against loss by fire, hazards Included within the term "extended coverage' and any other hazards for which Lender requires Insurance This insurance shah he maintained In the ;!mounts and for the periods that Lender requires. The Insurance carne, 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 in -f•.ide a standard mortgage clause. Lender shall have the right to hold the policies and renewals If Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices In the event of loss. 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 shall be applledto 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 feasible or Lender s security would be less,' ., d.the insurance proceeds shall be applied to the sums secured ry this Security Instrument whether or not then due,. wfln 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 Lenderma'. colleclttieinsuranceprocee(:s Lender may use the proceeds to repair orrestore the Property or to pay sums secured by in is Security Instrument. whether Or not 1 hen due The 30 -day period will begin when the notice is given Unless Lender and Borrower otherwise agree in wining. any application of;) -,, ceecs toprincipal shall noteK l VC1 Or Postpone the due date of the monthly payments referrer lc. irP wawaphsI and 2orcrange the amount of the pavr link If underparagra: r '9 the Property is acquired rvLender Borre« ersr - q- tt oanyinsurancepoliciesandproceeds resulting fn© r^ tj amage: c", n.--Propertypriorto the act; .Ii;.'•:`ns,ai ; asstoLern erto' heextentofthesumssecuredbythisSecurity Instrufnent InlmPeliately prIC' b; the acqurs -lo- 6. Preservation and Maintenance of Properly; Leassholds. B.. rower shall not destroy. or damage or substan- tiar.y Change theProperty.a : •,,n e Property tod eterrorie '.£•orcommitwaste ifthisSecurityInstrumentisonateasehold. BOrfOW @f SnarrCOmpiy wrtrr 1:I2urvri�415ir5 v' Drn_n,nrfv Iha IPACPholdarld - fee title shall not merge unless Lender agrees to the merger in writing 1. Protection of Lender's Rights In the Property; Mortgage Insurance. If Borrower fails toperform the covenants and agreements contained in this Security Instrument of there is a legal proceeevng that rnay significantly affect Lender s rights in the Property (such as a proceeding in bankfuprcy probate. for condemnar.on or to enforce laws or regi. ationsi then Lender may do and pay for whatever Is necessary to protect the value of the Property and Lender s rignhs, in the Property Lender's actions may Include paying any Sums securlpd by a lien which has priority over this S,-curity instrument. appearingin court. paying reasonable attorneys fees and Pritertng on the Property lomake repairs Although Lender may take action under this paragraph 7. Lender does not have to du so Any amountsdisburseJ by Lender under th-s paragrapn 7 shall become additional debt of Bor rower secured by this Security Instrument Unii,-as Borrower and Lender agree to other terms of payment. these amountsshall b4ailiptlirfilt1rorn the date of disbursement at the Note rate and shall be payable with interest. upon notice from Lender to Borrower requesting payment lt�Ra �X.•s 'ILL ^- ra..,m...... __.. r