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<br /> UN�FURM CavENnNTS. Borrawer and 1.ender covenant and ngrec�s follow�=
<br /> 1. Payment of Principal and lnterest;P�rep�y�arnt and Late Charge9. Horn�wcr shall promptly pay when due
<br /> the principal oPand interest on the d�bt evidenced by thc Not�And any prepuyme�t and late charges due under the Nate.
<br /> ?. Funds for Taxes and Insurancr. St�Hjcc!to applicable law nr to a written wai�cr hy Lender.Sorrower shall pay
<br /> � to Lender on th�day manthly payments are due under the Note. until the Nrne is paid in Pull,a sum("Funds")equal to
<br /> one-twelfth of (a) yearly tax�s a,�d ussessmeats which may attain priority over thic S�curity lnctrument; (b) ycarly
<br /> leasehald payments or grou�d rents on the Property, if any; (c) yearly hazard �nsurunce premiums; and (d) yea�ly
<br /> mortgage insurAnce premiums,if any.These items arc caited"�craw items."l.ender may estimate the Funds due on the
<br /> buis of current data and rcasonable estimates of future escrow items.
<br /> The Funds shall be held in an institution the deposits ar accounts af which are insured or guaranteed by�federal or
<br /> state agcney(including Lender i1'Lender is such an institutian). Lender shall apply the Funds ta pay the escrow items.
<br /> I.ender may nat charge for halding and applyin�the Funds,analyzing the account or verifjing the escrow items,unless
<br /> Leader pays Borrower interest on the Funds and applicable law p�rmits Lender to make such a charge. Borrower and
<br /> I.ender may agree in writing that interest shall be paid on the Funds. Unless an agrcement is made or applicable law
<br /> roguires interest to be paid, Lender shall nat tx required to pay Barrower any interest or carnings on the Funds. Lendcr
<br /> shall give to Borrower,without charge.an tinnual accounti�g of the Funds showing credits and debits to the Funds and the
<br /> purpose for which each debit to the Funds was made.The Funds are pledged as additiona)security for the sums secured by
<br /> this Security Instruiaent.
<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 escraw 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 Bonow•er or credited to Borrower an monthly payments oT Funds. If the
<br /> amount of the Funds held by Lender is not sufficient to pay the escrow items when due,Bonower shall pay to Lender any
<br /> amount necessary to make up ihe deficiency in one or more payments as required by Lender.
<br /> Upon payment in full of all sums secured by this Security lnstrument,Lender shall promptly refund to Borrower �
<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 h:ld by Lender at the time af
<br /> application as a credit against the sums secured by this Security lnstrument.
<br /> 3. Application of Paymenta. Unless applicable law provides otherwise.all payments�eceived 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 payable under paragraph 2;fourth.to interest due;and last,to principal due.
<br /> 4. Chuge�Liena. Borrower shaq pay all taaes.assessments,charges,fines and impositions attributable to the
<br /> � Property which may attain priority over this Security lnstrument. and leasehold payments or ground rents. if any.
<br /> , Borrower shall pay these obligations in the manner proti�ed in paragraph 2,or if not paid in that manner. Borrow•er shall �
<br /> pay them on time directly to the person owed payment.Borrower shaU promptly furnish to Lender all notices of amounts t
<br /> to lx paid under this paragraph. If Borrower makes these payments directly,Borrower shall promptly furnish to Lender _
<br /> receipts evidencing the payments.
<br /> � �r.a•�a:slss:l�:ossspsl,�is��s:b�s.^.�!::r.:vh:ch hs.s�zi�nt;��pr*.hi�Securi*.;1r:str±�Pnt��nle�.s P�*r�wPr:4at !
<br /> � agrees in writing to tho payment of the abligation 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 prceeedings 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 hulder of the lien an ' -
<br /> agreement satisfactary to Lender subordinating the lien to this Security Instrument.lf 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 satisfjr the lien or take one or more of the actions set fonh above within 10 days
<br /> of the giving of notice. _
<br /> � S. Hazard Insnrance. Borrower sha11 kee�the improvements now existing or hereafter erected on the Propeny
<br /> � insured against loss by fire,hazasds includec4 w�ithin the term"extended coverage"and any other haxards for which L.ender
<br /> � requires insurance. This insurarce shall be maintained in the amounts and for the periods that Lender requires. The _
<br /> insurance carrier providing the cnsurance shall be chosen by Bonower subject to Lender's approval which shall not be __
<br /> unreasonably withheld. '
<br /> All insuranre policies and renewals shall be acceptable to Lender and shall include a standard martgage clause. ` �
<br /> Lender shall have the right to hold the policies and renewais. If Lender requires,Borrower shall prompily give to Lender �
<br /> , all receipts of paid premiums and renewal notices.In the event of loss.Borrower shall give prompt notice t�the insurance ��,_
<br /> � carriez and Lender.L.ender may make proof of loss if not t�tade promptly by Borrower. -
<br /> Unless Lender and Bonower otherwise agree in N•riting,insurance proceeds shall be applied to restoration or rep�ir _.
<br /> of the Property damaged,if the restoration or repair is economically feasible and Lender's secunty is not lessened.If the , '
<br /> restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be
<br /> applied to the sums secured b�this Security Instrument,whether or not then due,with any excess paid to Borrower. If '
<br /> ' Bonower 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 callect the insurance proceeds. Lender 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 shall not extend or
<br /> ' posspone the due date of the monthly payments referred to in paragraphs l and 2 or change the amaunt of th,payments.If
<br /> under paragraph 19 the Property is acquired by Lender.Borrower's right to any iasurance 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 t his Security
<br /> lnstrument immediately prior to the acquisition.
<br /> 6. Preservation and Maintenance of Property;Ixaseholds. Bonower shall not destroy.damage or substantially
<br /> change the Property. allow the Property to deteriorate or commit waste. If this 5ecurity lnsirument is on a leasehold.
<br /> Borrower shall comply with ihe provisions of thP 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. �
<br /> 7. ProteCtion of Lender's Rights in the Property; �Iortgase Insurance. if Borroa•er fails to perform the
<br /> eovenants and agreements contained in this Security lnstrument,or there is a legal proceeding thut may sigtiiificantl}•affect :
<br /> , Lender s rights in the Pr�peny (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br /> regulations),ihen Lender may do and pay for whatever is nece�sary to protect the value of the Prop�rty and Lender's rights --
<br /> in the Property. ixnder's actions may inciude paying any sums secured by a lirn a•hich has pnorit}� over this Secunty
<br /> � Instrument.appearing in court,paying reasonable atturney�f�es ancl entering on the i'roperty to makc rc�,a�r�.Aithough
<br /> Lender may take act�on under this paragraph 7,Lender does not have to do so.
<br />, Any amounts dESbursed by Lender�nder this paragraph 7 shall become addit�onal deM c�f Hc�rrnwcr�ecured hy thi�
<br />: Secunty Insirument ttnles�Borrower and Lendet agree tc�other terms�,f pa}�menl,the�e�m��untti tih:al{hrar�ntcrr�t frc�m ti
<br /> eh¢ date caf ditihvrccmrnt �s tfic `�otc ratc and chall t�c payahlc, a•tith mtcrr,t, upon Tt�tICC frnrn I rnder tc� R��rr��urr �
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<br /> reques�ing payment. . -,�._
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