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<br /> � �� UNIFORM COVENANTS. Borrower a�d Lender covcnant and agree as follows:
<br /> 1. PAyment of Principal and Interest; Prepayment�nd Late Charges. Borrower shall promptly pay �vhen due
<br /> the principal af and intcrest on the debt evidenced b,y the Note And any prepayment and late charges due under the Note.
<br /> 2. Funds for Taxes and Tnsurance. Subject to applicable lu�v or to a wr;tten wniver by Lender,Horro�ver sha!!pay
<br /> to LGrtder on the day monthly payments arc due under the Note.until the Note is paid in full,a sum("Funds")equa!to
<br /> (� one-twelfth of: (a) yearly taxts and assessmcn�s which may attain priority over this 5ecurity lnstrument; (b) yeariy
<br /> � ltasehold payments or groun� rents on the Property, it'any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> � mortgage insurance premiums,if�ny.These items are called "escrow items."Lender may estimate the Funds due on the
<br /> basis of current data and reasannble estimates oPfuture escrow items.
<br /> The Funds shail be heid in an institutian the deposits or accounts of which�rc insured or guuranteed by u federal or
<br /> state agency(including Lender if Lender is such an institution). Lender sha11 apply the Funds to pay the escrow items.
<br /> Lender may not charge for holding and applying the Funds, pnalyzing thc account or veriitjing the escrow items,unless
<br /> Lender pays Horro�ver interest on the Funds and applicable Iaw permits Lender to make such a charge. Borrower and
<br /> Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> requir4s ir►yr�t�o be paid,L�nder sha11 nat bc required to pay Aorrowes•any interest or earnings on the Funds. Lender
<br /> sha�l gi�kftb�i�ldrrower,without charge.an annual accounting of the Funds showing credits and debits to the Funds and lhe
<br /> purpose fbr which each debit to the Funds was made.The Funds are pledged as additional seeurity for the sums secnred by
<br /> this Security]nstrument.
<br /> If the amount of the Funds held by Lender, together�vith thc 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 Borrowcr'c option,either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds.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 re�a�nd to Borrower
<br /> any Fands held by Lender. If under paragraph 19 the Property is sold or acquired by Lender,Lender sha31 apply. no later
<br /> than immediately prior to 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 inst�ment.
<br /> 3. Application of Payments. Unless applicable law pro�zdes othenvise. all paym�nts received by Lender under
<br /> paragraphs 1 and 2 shall be applied:flrst,to late charges due under the Note;second�to prepayment charges due under the
<br /> Note;third,to amounts payable undcr paragraph 2;fourth,to interest due;and last�to principal due.
<br /> 4. Charges; Liens. Borrower shall pay all taxes, assessments,aharges,fines and �mpositions attributable to the
<br /> Property which may attain priority over this Security Instrument, and Ieasehold payments or ground rents. if any.
<br /> Borrower shall pay these obligations in the manncr provided in paragraph 2.or ii'not paid in that manner. Borrower shall �
<br /> pay them on time directly to the person owed payment.Bonower shall promptly furnish to Lender all notices of amounts
<br /> to be paid under this paragraph..If Borrower makes these payments direcily, Borrower shall promptly furnish to Lender
<br /> receipu evidencing the payments. �
<br /> ; Horrower shal'l promptly discharge any lien which has priarity over 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 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 Horrawer a
<br /> notice identifying the lien.Horrower shall satisfy the lien or take one or more of the actions set forth above within l0 days �� ,
<br /> of the giving of notice. , —
<br /> 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property �
<br /> insured against loss by fire,hazards included within the term"extended coverage"and any other hazards for which Lender t
<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 approval which sha11 not be `•
<br /> unreasonably withheld. ` �
<br /> All insurance policies and renewals shall be acceptable to Lender 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 I,ender
<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 mak�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 repuir
<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 economically feasible or Lender's security would be lessened, the insurance procteds shali be
<br /> applied to the sums secured by this Secnrity Instrument,whether or not then due, with any excess paid to Borrower. If
<br /> Borrower 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. Lender may use the proceeds to repair or restore
<br /> tht Property or to pay sams secnred by this Security Instrument,whether or not thea due. The 30•�iay period will begin
<br /> when the natice is given.
<br /> � Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or
<br /> . postpone 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 19 the Pro�er�y is acquired by Lender,Bor:ower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br /> Instrument immediately prior to the acquisition.
<br /> 6. Preservation and Maintenance of Property;Leaseholds. $orrower shall not destroy,damage or substantially
<br /> change the Property, allow the Properry to deteriorate or commit waste. 1f this Security Instrument is on a leasehold, � -- -
<br /> Borrower sha11 comply with the provisions of the lease,and if Borrower acquires fee title to the Property, the leasehold and
<br /> fe�title shall not merge unless Lender agrees to the merger in writing.
<br />- 7. Protection of Lender's Rights in the Property; Mortgage Insurance. 1f Borrower fails to perform the
<br /> covenants and agreements contaifled in this Security Instrument.or there is a]ega]proceeding that may significantly affect
<br /> Lender'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 ri�hts ��
<br /> L . in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security �
<br /> Instrumeni,appearing in court, paying reasonable attorneys'fees and entering on the Property to makc repairs. Although
<br /> Lender may take action under this para�raph 7,Lender dces not have to do so. `f
<br /> Any amounis disbursed by Lender under this paragraph 7 shall become additional debt of Borro«•er secured hy this ~(
<br /> Security lnstrument. Unlccs i3orrc�wcr and Lender agree to other terms of payment,thesc amounts chall hear interest from , ��)
<br />_ � the date of disbursemcnt :u the Notc rate and shall be payablc, ��•ith interest, upon n�ticc fmm Lendcr tc� 13arr�wcr
<br />_ � requesting payment. .. ,.
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