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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follow%:
<br />1. payment of Principal and Interest; Prepayment and Late Charges, Borrower %hull promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charge% due under the N4 Ile.
<br />2. Funds for Taxes and insurance, Subject to applicable law or to a written waiver by Lender, Burrower %hall pay
<br />to lender on the day monthly payments are due under the Note, until the Note i% paid in full. a sum l "I'uuds ") equal Io
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Insirunicni; (h) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; arnl (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may eminiate lire Funda 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 federal 1 +r
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pity the escrow iterim
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items. llnlLm
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Burrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable low
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or eamings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credit+ and debits to the f=unds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sumsA secured 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 Fund %. 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 1 q the Property 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 time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable low 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 udder the
<br />Note; third, to omounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attnhuwhle to the
<br />Property which may attain priority.over this Security instrument, and leasehold payments or ground rent %, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2. or if not paid in I hat manner, Brirrower %hall
<br />pay them on time directly to the person owed payment. Borr ower shall promptly furnish to Lender all notice%of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (u)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (h) 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 />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 identifyi_ig 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. Hazard Insurance. Borrower shall keep the improwments now existing or hereafter erected on the Property
<br />nlsured against loss by fire, hazards included within the term "extended coverage" and any otherhazards 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 appr+%al which shall not be
<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. 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
<br />currier 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 he 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 />resit+cation or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Borrower ahandon% the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to wide a claim, then Lender may collect the insurance proceed.. Lender may use the proceeds to repair or restore
<br />the Property or w pay sums secured by this Security Instrument, whether or not then due. The 30•day penod will begin
<br />whet the nonce N given.
<br />1 Inle%% Lender and Borrower otherwise agree in writing, am• application of proceeds to principal shall not extend or
<br />pimpone 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 by the Property is acquired by Lender. Borrower's right to any insurance;x•ltnes and proceeds resulting
<br />hum damage to the Property prior to the acquisition shall pass to Lender to the extent of the%ums secured by this Security
<br />lismrmnem inniedtately prior tv the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Horn.wer shall not dent roy, damage ur substantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is oil a leasehold.
<br />liorrimew shall con►ply with the previsions of the lease, and of Borrower acquires fee title to the Property. the leasehold and
<br />fee tide shall nut nnerge unless Lender agrees to the merger m wrong.
<br />7. Protection of Lender's (tights in the Property% Mortyuc Insurance. If Borrower falk to perform the
<br />:.,..•uunr.,uul rureenlent%contamed in this Securtn Instrument. or there i% a legal proceeding that matt stgmficrntly affect
<br />ender'% rights m the Properly 1%uch as a proceeding In hankrupto . prnhate. for condem naunn or to enforce iaw% or
<br />reµtthluon%i. then 1 ender may do and pay for u hatever its necessary to protect the %slue of the Properry and Lender's rights
<br />nt the 11folio% I ruder'% actions ma} Include paying any sums secured M a ;ten which has priority o%er this Security
<br />luslnuicit..q+;+eurulµ III court. paying reasonable attorneys fees and entering on the Property to make repair%. Although
<br />I ender nI,I% take ,lemon under this paragraph 7. Lender does not haw teodo so.
<br />.An% amount%th%hur %ed by Lender under this paragraph 7 %hall become additional debt of Borrower wcured by this
<br />Sec ant% ImIruincot t'isle %% Borrower and Lender agree to other term~ of payment, these amuunt%shall hear mtere%t from
<br />the dale of 111%hutslateni at the Note rate and %hall lx payable. anh unrcre%t, upon notice from 1 ender t,+ Harrower
<br />requc%tily 110111eul
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