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<br /> UNIPORM1!COV ENAN7S Borrower und l.end�r c��•cnant and agrcc as follo���s:
<br /> 1. P�ymcnt of Princips�)wnd Interest;PrepAyment and I.ate ChArges. I3arro�ver shnll promp�ly pay wl�cn due
<br /> the principal af nnd interest an the debt evidenced b�•the Note and uny prepay ment And tate churge`due under the Note.
<br /> 2. 1�unds for Taxe��nd Insurtnce. Subject to upplicable law ar to n written�ti•aicrr l+y Leucier,Dorrowc�shall pay�
<br /> ta Leader on the day monthly payments ure due under the Note.unt�l the Note is paid in iali,a sum("Funds")equal to
<br /> ( one-twelRh of: (a) yearly tnaes and asscssments which may attuin priority o�er tiiis Securit� lnstrument; (b) year{y
<br /> leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurnnce premi��ms; and (d) yearly
<br /> mortgage inaurance premiums,if any. These items are called"escrQw items." Lender may estimate the Funds due an the
<br /> basis of cunent data and r�asonable estimates of future escraw items.
<br /> The Funds shall be held m un institutian the deposits or accounts of which are insured or guaranteed by a federal or
<br /> state agency (including Lender iP Lender is such an instituti�n). Lender shall apply the Funds to pay the escrow i:ems.
<br /> l.ender msy not charge far holding and applying the Funds,analyzing the account or verifying the escrow items,unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits Lender ta make such u charge. Bonower und
<br /> Lender may agrce in writing that interest shall be paid on the Funds. Unless an agreemPnt is made or applicable law
<br /> req»�*�interest ta be paid,Lender shall itot be required to pay Borrower any interest ar earnings on the Funds.Lender
<br /> shall give ta Borrower,without charge,an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> purpose for which each debit to 1he Funds was made.The Funds are pledged as additianal security far the sums secured by
<br /> this Security Instrument.
<br /> ]f the amount of the Funds held by Lender,together with the i'uture monthly payments of Funds payable prior to
<br /> the due dates of the escrow items,shall eaceed the amount required to pay the escrow items when due,the excess shall be,
<br /> at Bonower's option,either promptly repaid to Borrower ar credited to Horrower on monthly payments of Funds. If the
<br /> amount of the Funds held by Lender is not sufficient to pay the escrow items v►hen due.Borrower shall pay to Lender any
<br /> amount necessary to make up the deflciency in one or more payments as required by I.ender.
<br /> Upon payment in full of all sums secured by this Security lnstrument,I.ender shall promptly refund to Borrower
<br /> any Funds held by Lender.lf under paragraph 19 the Property is sotr�or acquired by Lender,Lender shall apply,no later
<br /> than immediately prior to the sale of the Property or its acquisi3ion�by Lender.any Funds held by Lender at the time of
<br /> application as a credit against the sums secured by this Security lnstrument.
<br /> 3. Application of P�yments. Unless applicable!aw provides otherwise,all payments received by I.ender under
<br /> paragraphs 2 and 2 shall be applied:flrst,to late charges due under the Note;second,to prepayment charges due under the
<br /> Note;lhird,to amounts paya�le under puragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4. Chuges;Liens. Borrower shall pay all taxes,assessments,charges, flnes and impositions attributable ta the
<br /> Property which may attain priority,aver this Security Instrument, and leasehold payments or ground rents, if any.
<br /> Borrower shall pay these obligations in the manner pro��ided in paragraph 2,or if not paid in that manner,Borrower shall _
<br /> pay them on time directly to the person owed payment.Borrower sh�ll promptly furnish to Lender all notices of amounts ,
<br /> to be paid under this paragraph.If Borrower makes these payments directly, Bonower shall promptly furnish to Lender
<br /> receipts evidencing the payments. �
<br /> Rn�Qu,.r chall�,r�rnntiv�licchar¢e any lien whicli h9s OriOntY OVCf this SeCUflty It15tTllmeflt Un1CSS HOiIOwCf:(a) � __
<br /> agras in writing to the payment of'the obligation secured by the]ien in a manner acceptable to Lender;(b)contests in good ` '�,�
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<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 /> agroement 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 lnstrument, Ixnder may give Bonower a
<br /> noticG 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 /> 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property �
<br /> ' insured against loss by flre,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 /> insurance carrier providing the insurance shall be chosen by Bonower subject to Lender's approval which shall not be �
<br /> unreasonably withheld. —
<br /> All insurance policies and renewats shall be acceptable to Lender and shall include a standard morigage clause. ��,_
<br /> Lender shall have the right to hold the poticies and renewals.If Lender requires,Borrower shall promptly give to Lender ��
<br /> all rcceipts 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 I.ender and Bonower otherwise agree in w riting,insurance praceeds shall be applied to restoration or repair E:�
<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 I.ender's security would be lessened,the insurance proceeds shal!he
<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 Property.or does�not answer within 30 days a noiice from Lender that the insurance carrier has
<br /> offered to settle a claim,then Lender may collect the insurance praceeds. Lender may use the proceeds to repair or restore
<br /> the Property or to pay sums secured by this Security lnstrument,whether or not then due.The 30-day period will begin
<br /> when the notice is given.
<br /> Unless Lender and Bonower otherwise agree in writing,any application of proceeds to principal shall noi 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 l9 the Properiy is acquired by Lender,Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the Propetty prior to the acquisition shall pass to Lender to the extent of the sums secnred by this Security
<br /> Instrument immediately prior to the acquisition.
<br /> � 6. Presenation and Maintenance of Property;Leaseholds. Bonower shall not destroy,damage or substantially
<br /> change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is an a leasehold,
<br /> Honower shall comply 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. ,
<br /> 7. Protection ot Lender's Rights in the Property; Mortgage Insurance. lf Borrower fails to perform the
<br /> � covenants and agreements contained in this Security]nstrument,or there is a legal Rraceeding that may significantly aflect ;
<br /> Lender's rights in the Property (such as a proceeding in bankruptey, probate, for condemnation or to enforce laws ot
<br /> _ regulations),then Lender may do and pay for whatever is necessary to protect the value of the Yroperty and Lender's rights ;
<br /> in the Yroperty. L.ender's actians may inciude paying any sums secured by a lien which has priority over th�s Security
<br /> � Instrument.appearing in court,paying reasonable attorneys'fees and entering on the Properry to makc repairs. Although 'Y
<br /> Lender may take actinn under this paragraph 7,Lrnder dc>es not have to da so.
<br /> Any amounts disbursed by l.erder under thi�paragraph 7 thall become addiu�ma)deM of Horr��wer secured by thi�
<br /> � 5ecurity instrument. Unless Borrnwer and Lcnder agree to uther terms�.f�aymcnt,the�e ami�imt<<hal)bear interest from r.
<br /> the d�te of disbursement at thc '�otc ratc and ahall hr payable. n�ih +t�terc�t, urim nnticc fr<�m Iendcr u� H�rr��ucr ���
<br /> reyucst�ng payment
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