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<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows:
<br />/. Mytaent of Prineipal acrd iMeroat; Propaymeat itiad Late Charges. Borrower shall promptly pay when due
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<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Nato
<br />law to written waiver by Lender, Borrower shall pay
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<br />Z. Rails for Taxes and lnwraaea. Subject to applicable or a
<br />to Lender on the day monthly payments are due under the Note, until the Nate is paid in lcdl, a sum l "Funds ") equal to
<br />this Security Instrument; (b) Yearly
<br />one-twelfth of, (a) yearly taxes and assessments which may attain priority over
<br />on the Property. if any; (c) yearly hazard insura nce premiums; and (d) yearly
<br />leasehold payments or ground rents
<br />mortgage insurance premiums, if any. These items are called "escrow items." lender may estimate the Funds due on the
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<br />basis of current data and reasonable estimates of future escrow nem+i.
<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 escnsw items.
<br />the Funds, analyzing the account or verifying the escrow items, unless,
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<br />Lender may not charge for holding and applying
<br />Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
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<br />Lender pays
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />interest or earnings on the Funds. Lender
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<br />requires interest to be paid, Lender shall not be required to pay Borrower any
<br />Borrower, charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />shall give to without
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by
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<br />thisSecuriaty Instrument.
<br />If of the Funds held by Lender. together with the future monthly payments of Funds payable prior to
<br />the amount
<br />the due dates of the escrow items. .!tall exceed the amount regwred to pay the escrow items, when due. the excess shall. M: •
<br />to Borrower on monthly payments of Funds If the
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<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 shall pray to Lender any
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<br />amount necessary to make up the deficiency in one or more payments as required by Le+tdar•:
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />later
<br />any Fund held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no
<br />by Lender, any Funds held by Lender at the time of
<br />than immediately prior to the sale of the Property or its acquisition
<br />appEkation as a credit 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 />1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the
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<br />paragraphs
<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 />2, if in that manner. Borrower shall
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<br />Borrower shall pay these obligations in the manner provided in paragraph or not paid
<br />them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />pay
<br />tribe paid under this paragraph. If Narrower makes these payments ditei:tiy, ilarroRCr shatl promptly furnish ro Len er
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<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
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<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in goad
<br />to
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<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate
<br />tram the holder of the lien an
<br />prevent the enforcement of the lien or forfeiture of an n y pa of the Property; or (c) secures
<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 />set faith above within 10 days
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<br />notice identifying the lien. Borrower shall satisfy the lien or take one or mo re of the actions
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<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />"extended and any other hazards for which Lender
<br />insured against loss by fire, hazards included within the term coverage"
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
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<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
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<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
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<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 loss, Borrower shall give prompt notice to the insurance
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<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
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<br />of the Properly damaged, if the restoration or rel+air is economically feasible and Lender's security is not lessened. If the
<br />Lender's would he lessened, the insurance proceeds shall
<br />restoration or repair is not economically feasible or security
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<br />to the sums secured by this Security instrument, whether or not then due, with any excess paid to Borrower. If
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<br />applied
<br />Borrower abandons the Property, or does not answer within jO days a notice from Lender that the insurance carrier lice
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<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />not then due. The 3O-day period will begin
<br />the Property or to pay sums secured by this Security Instrument, whether or
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />in I and 2 or change the amount of the payments. If
<br />postpone the due date of the monthly payments referred to paragraphs
<br />utitS.rc paragraph ly the Property ts,ra;uved by Lender. Borrowed. right to anc insurance policies and proceeds resuttietg
<br />frot:rt da.":,t }e to the Property Pnc r c : ra acquisition shall (pass to lender to the extent of the.utns secured by this Secur. sty
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<br />Instrumeent immediately prior to t 1e aeyui+uion
<br />6. Preservatiai and lfaintenance of Propert^.}c I eaue k.". Borrower shall not .tc`srrt,%, damage or .ui+stanctaai.y
<br />change the Property_ a[:ew the Property n+ detrtr : 'air or ,ammit case If tilts Security Instrument is on a leasebeid.
<br />fee title `.+the Prnpert., 9h;0 ,4!aV.h.1ld aatd
<br />Borrower shall compl) with the provisions of the rea.e, ana of Btrrower acyurres
<br />fee title aait not merge unlos Lender agrees tot he merger at w VIM rig.
<br />T. Protection of Lender's Rights in the Property; Mt-v eitaRe Insurance. 1« Itrrrt +wee fads to yrriernr i! °r
<br />-- --. _ -� - --__�_ ._ .......... "Wt .., ,i.:. C. •".•tic in.tn,m.nr .•r there ts:i leizal r+roceedinc that may signifi :antly affect
<br />Lender's right. to the Pntperty ouch as a proceeding in bankruptcy. prvhate, tier condemnatira air to rn«c�rce laws or
<br />reg:utattonsl. then Lender may do and pay fair w hater er i% neces.ary to prrtecr the caluc of the Prorerts and Lender's rights
<br />h) hen sshich h t. pra+nty vier this Security
<br />in the Property. Lender's action• may include paying any .urns secured :►
<br />Ireytrurnent, appearing in court. pa }rag reasonable attorney: fees and entering tin the Property Its make repair`. Although
<br />LecWtr may tale action under thrs paragraph 7. Lender doe% rnoc has a to do so
<br />Any amounts disbursed by Lender under this paragraph .. +hall become additional debt + f Ii •rrc•c.er secured h) this
<br />Security Instrument. Unless Fkirmwer and (.ender agree to other term%of p.iy meat, these amount. hall Fear Interest firm
<br />The date of disbursement at the %ore rare ind .h.i11 he r.n.thlc. wish ItIlet I. u{prn Hoare from 1, inter n• h+•rr,•wer
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<br />regWttt:ng payment.
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