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<br /> UNIFORM COVENANTS Harrower and Lender c�venant and�gree a�fi�llowti: aJ"��u 6 613
<br /> 1. Aayment of Ariacipal and Interest: PrepwymeM�nd Gttc Charges. 8orrowcr�hAll promptly pay when due
<br /> the principai of and inter�st an the debt evidenced by the Note and any prepayment And Inte charges ciue under the Nate.
<br /> 2. Fueds tor T�xes tnd Ynsur�nce. Subject to applicable luw ar ta u written waiver by Lender,Bar�ower shall pAy
<br /> � to Lender on the day rnnnthiy payments are duc under the Nate,until thc Nate is paid in 1'ull,a sum("Funds")equal ta
<br /> ane-twelfth of: fa) yearly taxes and assessments which m�y attain priority �ver this Security Instrument; (b) yeacly
<br /> lasehold payments or ground rcnts an the Property, if Any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> mongsge insurance premiums,if anp.These items are called"escraw items."Lender may estimate the Funds due on the
<br /> basis of current dAta and rexsanable estimates of ititure escrow items.
<br /> The fiunds shall be held in an institutian the deposits or accounts af'which ure insu�ed ar guaranteed by a federal or
<br /> state agency(including Lender iP Lender is such an institution). Lander shaU apply the Funds ta pay the escraw items.
<br /> Lender may not cha�ge for holding and applying the Funds,analyzing the accaunt or verifying the escrow items,unless
<br /> Lender pays Bortower interest on the Funds and applicable Isw permits L,ender to make such a charge. Barrower and
<br /> Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made ar applicable law
<br /> requires interest to be pAid,L.endet shall not be required ta pay Borrower any interest or earn9ngs on the Funds. l.ender
<br /> shAll give to Bottower,without charge,an annual accounting of the Funds showi�g credits and debits to the Funds and the
<br /> purpose for which each debit ta the Funds was made.The Funds are pledged as additional security for the sums secured by
<br /> ' this Security Instrument.
<br /> If th�amount of the Funds held by Lender,togcther 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 rcpaid to Bonower or credited to Bonower on monthly payments of Funds. lP the
<br /> , amount of the Funds held by Lender is not sufftcient to pay the escrow items when due,Bonower shall pay to l.ender any
<br /> � amount necessary to make up the deficiency in one or more payments as sequired by Lender.
<br /> Upon payment in full af all sums secured by this Security lnstrument,Lender shall promptly re:und to Borrower
<br /> � any Funds held by L.ender.If under paragraph 19 the Property is sold or acquired by Lender.Lender shall apply,no later
<br /> I than immediately prior ta the sale of the Property or its acyuisition 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. Applicition o!Payments. Unless applicable law p*ovides otherwise,all payments received by Lender under
<br /> ' paragraphs 1 and 2 shall be applied:flrst,ta late charges due under the Note;second,ta prepayment charges due under the
<br /> . Note;third,to amounts payable under paragraph 2;fourth,ta interest due;and last,to principal duc.
<br /> � 4. Cha�s;Llens. Borrower shall pay all taxes,assessments, charges.fines and impositions attributable to the .
<br /> Proporty which may attain priority,over this Security Instrument, and leasehold payments or ground rents, if any.
<br /> iBorrower shall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall � �
<br /> pay them on time directly to ihe person owed payment.Borrower shall promptly furnish to Lender all notices of amounts � .
<br /> � ta be paid under this paragraph. If Bonower makes these payments directly,Borrower shall promptly furnish to Lender �
<br /> � reeeipu evidencing the paymonts. -
<br /> ! Bonower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a) =�:.:-,`
<br /> ' agrees in wridng to the payment of the obligation secured by the lien in a manner acceptable 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 /> j 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 xny 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 idcntifying the lien. Borrower shall satisfy the lien or take one or more of the actians set forth above within 10 days ;
<br /> ; of the giving of notice.
<br /> � S. Ha�srd Insurance. Borrower shall keep the improvements now existing or hereafier erected on the Property `
<br /> � insured against loss by fire,hazards included within the term"extended coverage"and any other hazards for which I.ender �
<br /> � requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br /> � insurance c�rrier providing the insurance shall be chosen by Horrower subject to Lender's approval which shall not be
<br /> unreasonably withheld.
<br /> All insurance policies and renewals shall be acceptable to I.ender and shall include a standard mortgage clause. ,
<br /> I.ender 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,Horrower 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 Bosrower 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 Lender's security is not lessened. If the .
<br /> cestoration or repair is not economically feasible or Lender's security would be lessened.the insurance proceeds shall be :
<br /> � appliod to the sums secured by this Security lnstrument,whether or not then due,with any excess paid to Borrower. If _ .,
<br /> Borrower abandons the Property,or dces not answer within 30 days a notice from Lender that the ins�rance carrier has
<br /> offered to settle a claim,then I.ender may collect the insurance proceeds. I.ender may use the 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 otherwise agree in writing,any application of proceeds to principal shal)�ot extend or
<br /> . postponc the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> ' under paragraph l9 the Property is acquired by Lender,Bonower's right to any insurance policies and proceeds resulting
<br /> fram damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br /> lnstrument immediately prior to the acquisition.
<br /> 6. Preservation and Maintenance ot Property;Leaseholds. Borrower shall nat 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 provisions of the lease,and if Borrower acquires fee title to the Property,the leasehold and , —_ _ -
<br /> � fce title shall not merge unless L.ender agrees to the merger in writing. �
<br /> 7. Protection ot Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the
<br /> eovenants and agreements coatained in this Security Instrument,or there is a legal proceeding that may significantly affect ! •
<br /> Lendtr's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or ' �
<br /> regulations),then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights •
<br /> in the Praperiy. Lender's actions may include paying any sums secured hy a lien which has priority over this Security �
<br /> ` lnstrument.appearing in court.paying reasonable attorneys'fees and entering on the Property to make repairs.Although
<br /> L Lender may take action under this paragraph 7,Lender does not have to do so.
<br /> Any�mounts disbursed by Lender under this paragraph 7 shall become additional debt vf Borrower secured by this
<br />: Security Instrumcnt.Unless Borrower and Lender agree to other terms of payment,these amc�unts shail bear interett from ��""
<br /> the date of disbursement at thc Notc rate and ehall t+e payable, with interest, upcm notice from Lender to Borro�ver �y
<br /> reyuesting payment.
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