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<br /> UNIFORM CovBNAN7's. Borrower and Lender cavcnant and r�gree as follows: v"� 1 O v�V v
<br /> 1, Pvyment�f P�inctpal sa�Interht; Frtp�Y�ent�nd I.ste Chuges. Aonower shAli pr�mptly pay «hen due
<br /> the principal afand i;►ter��t on thc dcbt evidcnze�ay�h�Nnte and any prcpaYment and lute�harges duc under the Hote.
<br /> 2, Funds for Taxa�ud lasuranee. Setbjtci ta applicable law or ta a written waiver by I.ender,Borrower shall pay
<br /> r to Lender on the day monthly payments are duc under the Note, until the Note is paid in fuU,a sum("Funds")equal to
<br /> � one-twelRh ofi (a) yearly taxes �nd assessments which may attain priority over ehis Security Instrurricnt; (b) yearly
<br /> leasehold payments or g�aund rents on the Praperty, if uny; (c) yea►rly hazard insurance premiums; and (d� yearly
<br /> mortg�ge insurance premiums,if any.These items are called"escrow items."Lender may estimate the Fa�ds due on tiie
<br /> basis of cunent data and reasonable estimates of future escrow items.
<br /> The Funds sha11 be held in an institution the deposits or accounts of which are insured or�uaranteed by a federal or
<br /> st�te 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 ar verifying the escrow items, unless
<br /> ; Lender pays Honower 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. Gntess an agreement is made ar appliaabte law
<br /> roquires interest to be paid,Lender shall not be required to pay Barrower any inter�l or earnings on the Funds. Lender
<br /> sh�p give to Barrower.without charge.an annual accounting of'the Funds shawing credits and debiis to the Funds and the
<br /> purpose for which each debit to thc Funds was made.The Fuads are pledgzd as additiona!securit���r the sums secured by
<br /> this Security Instrument.
<br /> If the amount af the Funds hetd by Lender.together with thc tature monthly payments of Funds pa}•able prior to .
<br /> the due daetes of the escrow items,shall exceed the amount required to pay the escrow items when due,the excess shall be,
<br /> at Borrower's aption,eithcr promptly repaid to Borrower ur credited to Borrawer�n monthly payments af Funds.If the
<br /> amount of the Funds 3�eld 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 deaciency in ane or more payments as required b}Lender.
<br /> ; Upan payment in fall of all sums secured by this Security Instrument,Lender shall prompfly refund to Bonower
<br /> any Funds held by Lender.lf under paragraph 19 the Property is sold or acquired ba i.ender,I,ender 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. Applieation o!Payments. Unless applica,ble law provides otherwise.all payments received by Lender under
<br /> paragraphs i and 2 shall be applied:ftrst,to late charges due under the Note;second,to prepayraient charges due under the
<br /> Note;third,to amounts payable under paragraph 2;fourth,ta interest due;and last.to principal due.
<br /> � 4. Chuges;Liens. Borrower shall pay all taxes,assessments:charges.fines and impasitions attributable to the .
<br /> � Property which map 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 para�saph 2,or if not paid in that manner,Borrower shall i �
<br /> � pay them on time directly to the person owed payment.Borrawer shail promptly fumish to Lender all notices of amounts �
<br /> : to bc paid under this paragraph. If Borrower makes these payments directly,Borrower shall promptly furnish to Lender : :�
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<br /> : ru;cipisc�auc,�cti�g ih��ayt�s:�ssis. ' .�
<br /> ! Borrowu shall promptly discharge any lien which has priority�ver this Security Instrument unless Borrower:(a) -�-
<br /> ' 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 iicn 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 subje�:t to a lien wh�ch may attain priority over this Security Instrument, Lender may give Borrower a
<br /> notice identifj+ing the lien.Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days t
<br /> of the giving of notice.
<br /> S. Nuud Insurance. Borrower shal)keep the improvements now existing or hereafter erected on�tbe Property �
<br /> insured against loss by firt.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 /> insuranc�carrier providing the insurance shal!be chosen by Borrower subject to Lender s approval which shall not be
<br /> unreasonably withheld. � -
<br /> • AIl insurance policies and renewals shaZl 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 /> ' canier 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 rep4ir `.-^�
<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 is not econamically feasible or Lender's security would be lessened,the insurance proceeds shall ba
<br /> 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 Propeny,or dces nat 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 the proceeds to repair or restore
<br /> tht P:ogerty or ta pay sums secured by this Security Instrument.whether or nat then due.The 30-day period wi11 begin
<br /> when the notice is given.
<br /> � Unless Lender and Borrower atherwise agree in wriling,any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments ceferred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under paragraph 19 the Property is acquired by Lender,Barrower's right to any insurance policies and proceeds resulting
<br /> • from damage to the Property prior to the acquisition shall pass to Lend'er to the extent of the sums secured by this Security
<br /> lnsttument immediately prior to the acquisition.
<br /> 6. Preserrxtion and Mainten9nee ot Property;Leaseholds. Borrower shall not destroy.damage or substantiatly
<br /> change the Property, allow the Property to deteriorate or commit waste. if this Security Instrument is an a leasehold, _
<br /> 8orrower shall rnmply with the provisions of'the lease,and if Borrower acquires fee title to the Property.the leasehold and �--—�
<br /> fee title shall not merge unless Lender agrees to the merger in writing. i
<br /> 7, Prestection of Lender's Righ3s in the Property; Mortgage Insurance. If Borrawer fails to perform the
<br /> covenants and agreements contained in this Security lnstrument,or there is a legal proceeding that may significantly affect �
<br /> Lender's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation ot to enforce laws ar �
<br /> regulations),then Lender may da and pay far whatever is necessary to protect the vulue of the Property and Lender's tights
<br /> m the Property. Lender's actiems may inelude paying any sums secuted by a lien which has priority over thts 5ecurst}• �
<br /> � Instrument,appearing tn court,paying reasonable attorneys'fees and rntering on the Properry to make repairs Althaugh
<br /> . Lender m:�y takc action under Ihis patagraph 7,Lcnder does not have tc�do so.
<br /> Any amuunts disbursed by Lender under this paragraph 7 shall become addui�mal debt c�f Bormwer tiecured by th�� •�
<br /> �ecunty lu,trwi►ent. Untesti[it3rrczurr and l.ender agrre to nther terms rf raymem. thr�e am��unt,�hall hcar�ritcretit from ap
<br /> the date nf di�hur�rment at Ihe Nofc ra�c and chall he �ayable. wrth intere�t. u��m n��tirr tri�m L rnder ti� H��rr�����cr �
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<br /> reyue4ttng pa>ment � ..
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