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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: a when due
<br />1. Payst"I of Principal sad Iatemot, PrepaYtaeat toad Late Charges. Borrower shall promptly p y
<br />the principal of as:d interest on the debt evidem -ed by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and laureate. Subject to applicable law or to a written waiver, by Lender. Borrower shall pay
<br />to Lender on the day monthly payments aired ue under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />one-twelfth of: (a) yearly taxes 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 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 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 purpose a for hi h each debit to the Funds w'as Made. The Fgunds are pledged as additional security for the msasecured 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 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 Borrower
<br />any Funds held by Lender. If under paragraph 19 the PrOreirty is sold or acquired by Lender_ Lender shall apply. no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the tome of
<br />application as a credit against the sums secured b} this Security Instrument.
<br />3. Application 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 />4. Charger, Liens. 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, o-r if not paid in that manner, Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under thin paragraph. If Borrower makes these payments directly. Borrower sh;4 promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless itorro%er: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manne: acceptable to Lender:9t,l cantasts 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 />prevent the enforcement of the lien or forfeiture of any part of the Property; or Ic) 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 day's
<br />of the giving of notice.
<br />S. Hazard Inswrance. Borrower shall keep the improvements now existing or hereafter erected c ►n the Property
<br />insured aktainst loss 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 Borrower subject to Lender's approval which shall not t e
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be 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. Burrower shall promptly give to Lender
<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 proofof Ims if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise: agree in writing, insurance prcceeds 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 ii not economically feasible or Lender's security would he lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due. wish 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 />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use me e 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 oiberwise agree in wnting. any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthCy •raytnents referred to in paragraphs I and 2 or char„e'che amount of the payments. If
<br />under paragraph 10 the Property rs ::squired by Lender. Borro•wer's right to any insurance ,7oliciec and proceeds resulting
<br />from damage to the Property prior to the uctluisukm shall pass ts► Lender to the extent ;-e 11 he sums secured by this Security
<br />Instrument immedr.itely prior to the acqutsu eon
<br />6. Preservation and Maintenance of Property: Leasehollds• Wrr,� : r shall 1q r. ,pewtroy, darns &c or substantially
<br />change the Property. allow the Propene tt, detenarate for �� +mnmit waste. it this Securrry 11nurument is on a lersehald,
<br />Bo►rrewer shall comply with it he proyisionso.f the lease. and of tk^rrowcr acquires fee title to the Property, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in w riling.
<br />7. Protection of Lender's Rights in the Property: Morttalte Insurance. If Harrower fads to perform the
<br />covenants and agreements contained in this 5ecunty Instrument, or there rs a legal proceeding that may sigmficand% affect
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<br />Lender's rights in the rroperry tsucn as a prt><cetiertg m i•.SLIM"I•;iy. F•..•.•�•�..... „••• ,....._....... .. _..
<br />regulations). then Lender may do and pay for w hateser is rece%sary to protect the s alue of the Property and Lender's rights
<br />in the Property. Lender's action% may include paying an► sums secured by a hen which has priority Dyer this 5Ct urtr}
<br />Instrument, appearing in court. paying reasonable attoorne >s' I'Le% and entenng an the Property to make repairs .Although
<br />Lender may take a,:uon under this paragraph 7. Lender din% not hate t o do %o
<br />Any amount s dishursed by Lender under this paragraph ' .hall became additional debt rf Borrower secured by this
<br />5ecunty Instrument Unless 13orrower and I ender agree to other terms of pay intent. these amounts shall hear interest from
<br />the date of dishumement at the Note rate and shall he pa >:atile. with niters,%t. upt.n voice from I ender it, Ntornmer
<br />requesting payment.
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