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<br />- UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: when due
<br />-- - !� paymW of PrhsNptl and laterest; Px¢aYnaettt nen! l.+t. f'hsrges. 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, Feuds for Taxes atsd laauraace. 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 />this Security Instrument
<br />one- twelfth of: (a) yearly taxes and assessments which may attain priority over' (b) yearly
<br />i leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />ai=► •i •.- 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 shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
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<br />state agency (including Lender if Lender is such an institution). Lender shell apply the Funds to
<br />der may not charge for holding and applying t pay the escrow items.
<br />I,prhe 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
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<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 tfie
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured Itiy
<br />thisSecurity Instrument.
<br />If the amount of the Funds held by Lender. together with the fixture monthly payments of Funds payable prior to
<br />the escrow items when due, the exoesc shell be,
<br />the due dates of the escrow items, shall exceed the amount required to pay
<br />at Borrower's option. either promptly repaid to Borrower or credited to Borrowrr 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 make up the deficiency in one or more payments as required by Lender.
<br />• Upon payment in full of all sums secured by this Security 'instrument, Lender shall promptly refund to Borrow er
<br />any Funds held by Len
<br />ilf under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior so the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
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<br />3. Application of Payments. Unless applicable law .provides otherwise, all payments received by Lender under
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<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under t he
<br />Note; third. to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Charges; Dens. 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
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<br />pay them as. Borrower shall
<br />n time directly to the person owed payment promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borroucr sha!l promptly furnish to Lender
<br />�' `stri'ifi receipts evidencing the payments.
<br />Alp �• .�•�� Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower (a)
<br />} °t agrees in writing to the payment 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 Lender's opinion operate to
<br />:,;;" .• a • . 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. Mazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against Ines 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 />led insurance carrier providing the insurance shall be chosen by borrower subject to Lender's approval which shall not Ix
<br />unreasonably withheld.
<br />All insurance policies and renewals shall he acceptable to Lender and shall 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 />all receipts of paid premiums and renewal notices. In the event of 1,s. 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 />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 %ecurity 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 />r +' applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />f -•; ',� offered to senle a claim, then Lender may collect the insurance proceeds. 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 and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Propeny prior to the acquisition shall pass to Lender to the extent of the gums secured bil this Security
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<br />Instrurttem immediately- Trion to the acquisition
<br />6. !'reservation and Maintenance of Property: Leaseholds. Burrower shall not dtiurin. damagt or substantially
<br />change t?aP Property, allow the Prererty to deteriorate or commit waste. If this Securm Instrument is on a leawehca43.
<br />Borrower shall comply with the provisions of the lease, and if Wirrower acquires fee title to the Property, the leasehold an3
<br />fee title shall not merge: unless Lender agrees to the merger in a rising.
<br />7. Protection o? Lender's Rights in the Property: Ntortitage Insurance. If Borrower fails to perform the
<br />-... _�._. , :" .i.:. c..•,,...,. rnaenemwnt. air there t% a legal nnrccedina that may significantly affect
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<br />Lender's rights in the Property (such as a proceeding in l+wnkruptcy, probate. tiff condemnation or to enforce law~ or
<br />aegulasucir %l. then Lender may do and pay for whatever is nece -sarc to protect the value of the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by it hen which has priority over this Security
<br />Instrument. appeanag in court. paying reasonable attorneys' fees and entering tin the Property to make repairs. Although
<br />Leader may take acricn•i 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 Ikrrrmwr secured by t his
<br />Securtty Instrument. Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall he payable. with nucrtnt, upon notice from lender to Bormaer
<br />requesting payment.
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