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<br /> UNIFORM COYENANl'S Borrawer aad Lendcr cavenant und agree ur Pollo�vs: ;; �"-- �p g 3 9 B
<br /> 1. P�yment ot PrincEp�l and lntersst; I"repsyment and I.Ate ChArges. 8orrow•er shnl) peamp y nuy�when dur
<br /> the principal af and interest an the debt e��idenced by the Note and any prepayment and late charges due under the Note.
<br /> ?. Fund�for T�xea�nd Ins�r�tne�. Suhjer.t to appliant+le luw ar tc►a written wniver hy Lender,Borrower sh�l)pay
<br /> � to Lender on the day monthly payments are duc under the Note. until the Note is paid i�full,a sum("Funds")equal ta
<br /> one•twcttlh Uf: (a) ycarty taxrs And asscssments which may attain priority a��er thi� Security lnstrument; (b) yearly
<br /> leasehald payments or ground reots on the Property, iF any; (c) yeurly hazprd insurance premiums; and (d) yearly
<br /> mortgage insurance premiums.it'a�y.These items are called"escraw items."Lender may estiinate the Funds due on the
<br /> basis o!'current data and reasonable estimates of ftnure escraw items.
<br /> The Funds shall be held in an institution the deposits or accounts oi'which are insured or guaranteed by a federal ar
<br /> . state agency(including Lender if Lender is such an institution). Lender shall apply the Funda to pay the escraw items.
<br /> � Lender may nat 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 Iaw permits Lender to make such a charge. Borrower and
<br /> Lender may agra in writing that interat shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> requires interest to be paid,Lender shal)not be required tv pay Borrower any interest ar oarnings on the Funds. Lender
<br /> ' shall give to Bonower,withaut charge.an annual accounting af the Funds showing credits and debits to the Funds and the
<br /> purpcue for which each debit to the Funds was made.The Funds are pledged as additional security for the sums secured by
<br /> this 5ecurity Instrument.
<br /> If the amount of the Funds held by Lender, together with the 4liture monthly payments of Funds payable prior to
<br /> the due dates of the escrow items,shall exceed the amount required ta pay the escrow items when due.the excess shall be,
<br /> at Borrower's option,either promptly repaid to Bonower or credited to Borrower on monthly payments of Funds.If the
<br /> ; amaunt of the Funds held by L.ender is not suN'icient to pay the escraw items when due,Borrower shall pay ta l.ender any
<br /> amount nocessary to make up the deficiency in one or more paym�nts as required by Lender.
<br /> Upon payment in full os al)sums secured by this Security lnstrumeni,Lender sha1)promptly refund to Bonower
<br /> any Funds held by Lender.If under paragraph 19 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 Ler�der at the time of
<br /> application as a credil against the sums secured by this Security Instrument.
<br /> 3. Appllq�tion of Payments. Unless applicable law p*ovides 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 p�yable under paragraph 2;fourth,ta interest due;and last,to principal due.
<br /> 4. Charges; Liens. Borrower shall pay all taaes,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,Bonower shall � '
<br /> pay them on time directly to the person owed payment.Bonower shall promptly furnish to Lender all notices of amounts t
<br /> to be paid under this pazagraph. If Borrower makes these paymenis directly,Bomower shall pramptly furnish to Lender .,
<br /> receipts evidencing the payments. �
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<br /> _ u�n�.�,�r sha11�*�m�il; +'s��hasgz::n;!i.n�hi_h!�Fr�rit;u��r thi�S�urit;!asisume:s!isisl�E�n���*:{a1 '---
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<br /> agrees in writing to the payment of the obligation secured by the lien in a manner acceptabte 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 /> 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 /> agrament 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, I.ender 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. Ha�rd Insuranca Borrower shall keep the improvements naw existing or hereafter erected on the Property
<br /> insured against toss by fire,hazards included within the term"eatended 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 inswance shall be chosen by Borrower subject to Lender's approval which shall not be
<br /> unreasonably withheld. ;
<br /> All insurance policies and renewals shall be acceptable to Lender and shall includo a standard mortgage clause.
<br /> Lender sha11 have the right to hold the policies and renewals. If Lender requires,Borrower shal!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 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 I.ender's security is not lessened. If the �
<br /> restoration or repair is not economically feasible or Lender's security would be lessened,the insurance praceeds shall be �
<br /> applied to the sums secured by this Security Instrnment,whether or not then due.with any excess paid to Borrower. Yf
<br /> . Borrowtr 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. L.ender may use the proceeds to repair or testore
<br /> the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period wiil begin
<br /> . wben the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not eatend or
<br /> ' postpone the due date of the monthly pay ments referred to in paragraphs 1 and 2 or change the amaunt 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 sums secured by this Security
<br /> Instrument immediately priar to the acquisition.
<br /> �. 6. PreservuHon and:Naintenance o!Praperty;I,eASeholds. Borrower shall not destroy,damage or substantially
<br /> change the Property,allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold.
<br /> Borrower shall comply with the provisians of'the lease,and if Burrower acquires fee title to the Property,the leasehold and %_--_--
<br /> fce title shall not merge unless I.ender agrees to the merger in writing. '
<br /> 7. P�otection ot Lec�der's Rights in the P�operty; Mortgage Insursnce. If Borrower fails to perform the
<br /> covenants and agreements contained irt this Security Instrument,or there is a legal proceeding that may significantly affect �
<br /> l.ender's rights in the Property (such as a proceeding in bankruptcy, probate, for conc�emnation or to enforce laws or � .
<br /> regulations).then L.ender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br /> in the Property. Lender's artions may include paying any sums secured by a lien which has priority over this Security �
<br /> L lnstrument.appeariag in court,paying reasonable attorneys'fees and entering on the Property to make repairs.Although
<br /> Len�er may take action under lhis paragraph 7,Lender docs not have to do so.
<br /> Any amounts disbur�ed by Lender under this paragraph 7 shall become additional debt uf Borrower secur�d by thi�
<br /> � Security lnstrument. L►nlcss Bo-rower and Lender egree to other terms nf paymcnt,theu am«unt�shall bcar intere�t from �
<br /> the date of disGur��urut at tLe tiiutr rate and �hall be payable. H��th ittterect, up�n nonce fri�m Lender te• 8c►rrower i[9
<br /> rcquesting payment. a
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