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<br />'93- 105101
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<br />UNIFORM COVENANTS. Borrower and Lendet covenant and agree ltS follows:
<br />;. Psyment of Prlncipal and Interest; PN~.l'Mnt ud Late Chargn. Borrower shallpt'Omptly pay when due
<br />the pri,.npal of and in\trest on the debt evidenced by the Note and any prep\yment and late cltarltes due under the Note.
<br />'^' Fumb for Tall:~ and Ill5Uf'lUl(:e. SubJect to applicable It:w or to a wrinen wltjver by Lender, Borrower shall
<br />pay to ,~"ender Oil the cJay monthly payments are due under the Note, until the Note is paid in full; a sum ("Funds") for:
<br />(a) yearly taxes and 8SSf!!Sments which may attain priority t'vcrthis Security Instrument as a lie',' on the Property; (b) yearly
<br />lCMehold payments or ground rents on the Property, ihny; (c) year.!y hazard or property insurance premiums; (d) YClll'ly
<br />fiood irlsurance premiums, if any; (c) yearly rnortgag.e inJlirance premiums, if any; and (f) any sums payable by Borrower
<br />to Lender, in accordance with the provbions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These
<br />items are called "Escrow Items. "'Lender may, :~t a."y time, collect and hold Funds in an amount not to exceed the maximum
<br />amount a lender for a federally: elated mongage lOt., may require for Borrower's escrow account 'under the federal Real
<br />Estate !;ettlemen: Procedures Actof 1974 as amended from time to time, 12 U.S.C. f 2601 et uq. ("RESPA"), unless
<br />enother law that ~lpplie{> tq .the Funds sets a lesser amount. If so, Lender may; at any time, collect and hold Funds h an
<br />amount not tc: ':xceecl the 'lesser amount. Lender "hy estimate the amount of Funds due on the bnsis of current dltta and
<br />reasollllble e~tiDlIIJ't:!; of expenditures:, of future ~row Items or otherwise in accordapcc with appliCllNe law.
<br />The Funds ~hllll be held' In ari institUtlon wtidst. deposits at'1~ insured by a federal sgebe" instrumentality, or entity
<br />(including Lender, i:; Lender is such an institution) or in any FClkral Home Loan Bank. Lender shall apply the Funds to
<br />pay the Escrow Item!. Lender may not charge Borrower fct( holding and applying the Funds, annually analyzing the escrow
<br />account, or verifying the Escrow Items, unless Lender pays Borrower inre~ on the Funds and applicable law permits Lender
<br />to ma}.e such a charge. However, Lender may require Borrow~r to pay a one-time charge for an independent real estate
<br />tu reporting ser..ice used by Lender in connection with this loan, u.!tless applicahle law provides otherwise. Unless an agreement
<br />is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings
<br />on the Funds. Borrower and Lender may agree in writing, however, that in!erest sh~l be paid Oll t."le Fui".Js. Lend.:. sla...lJ
<br />give to Borrower, without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose
<br />for which each debit to the Fund~ was made. The Funds are pledged as additior.alsecurity for all sums secured by this Security
<br />InsL"Ument.
<br />If the Funds held by Lender exceed the amounts pemlitted to be held by applicable law, LendershalJ' acCount to Borrower
<br />for the excess '~unds in act;oulance with the requirements of applicable law. If the amount of the Funds held by Lender at
<br />any time is not sufficient to pay the Escrow Items when du~, Lender may, so notify:Borrower in wrifing~," and, in such case
<br />Borrower shall pay to' Lender the. amount. necessary to: make up tl~ defICiency .~rrowe~, shall ~e up the deficiency in
<br />00 ,more than twelve monthly payments, at Lender's ,sole.',discretion. ": . . \'" '. .. ,
<br />Upon payment in fuH of all. sums secured bythiii Security instrument, lender shali promptly refund to Borrower
<br />:,l.Oy Funds held by Lender. If, under paragraph 21, ~nder s~U.acquire or sell the Property, Lender, prior to the acquisition
<br />or sale of the \lroperty, shall apply 2ny Funds held by'I..ender Ilt the time of acquisition or we as a credit against the sUm,~
<br />secured by this Security Instrument. .
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments m;:eived by Lender under
<br />paragraphs I and 2 shall ~ ~.pplied: first, to any prepayment charges due 'l.lnder the Note; 'second, to amounts payable under
<br />paragraph 2; third, to interest due: fourth, to principal due; nod last, to any late charges due undcrthe Note.
<br />4. Charges; LIens, Borrower shall pay all we.'l, assessments. charges, fines and impositions attributable to the
<br />Property which may attain priority over this Stturity Instrument, and le.'.Sehold payments or ground renl~, ifany. Borrower
<br />shall pay these obligations in the maHner provided in paragraph 2. 01' if 1)(.'1 paid in that manner, Borrower shall pay them
<br />on time directly to the person owed payment. Borrower sha1l promptly flJrnish to Lender all notices of amounts to be paid
<br />under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing
<br />the payments. .
<br />Borrower shall promptly discharge any Iier. which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation 5e<::ured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends .against enforcemento( the lien in, legal procCC!iings which in the Lender's opinion operate to
<br />prevent the enforcr:ment of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lc~nder subor-
<br />dinating the lien to this Security Instrument. If Lender detennine:J that any part of the Property is subject to II lien which
<br />may anain priority over this Security Instrument, Udder may give Borrower a notice identifying the lien. Borrower shall
<br />satisfy the lien or lake one or more of the actions set forth above withi!l 10 days of the giving of notice.
<br />s. Hazard or ~perty lmurance. Borrower sha1llceep the improverm:nts now existing or hereafter erected on
<br />the Property insured !lgiliitst loss by fire, ~s inclulkd.. within the term "extended covefllge" and any Olhcr hazards,
<br />including floods or flooding, for which Lender requires inSurance. This insurance shall be maintained in the amounts and
<br />for the periods that Lender requires..1l1e, insurance. carrier providing the insurance !'.hall be chosen by Borrower subject to
<br />Lender's approval which shall not be unreasonably withheld. If~rrower fails to maintain coverage described ..bove, Lender
<br />may, at Lender's option, obtain c~"'erage, to protect Lender's rights in the Property in accordance with paragraph 7.
<br />All iMurance policies and re'hewals shall be acceptable to Lender and shall include a standard mortgage claUJiC. Lender
<br />shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts
<br />of paid premiums and renewal noticeS. In the event of loss, Borrower shall give.prompt notice to the insuflll.lce carrier and
<br />Lender. Lender m'lY make proof of loss if not made promptly by Borrower,
<br />Unless l..ender and Borrower otherwise agree in writin/t. insurance proceeds stall be applied to restoration or repair
<br />of the Propeny damaged, if the re.~toration or repair is ecorvlmicaIly 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 proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether Of not then due, with any excess paid to Borrower. If Borrower
<br />al:andons the Proj:'Crty, or does not answer within 30 days t. notice from Lender that the insurance carrier has offered to
<br />settle a claim, then Lender may collect the insurance proceeds, 1.ender may UM' the proceeds to repair or restore the Property
<br />or to pay sums secured by filis Security Instrument, whether or not then due. The 3O:-day period ",ill begin whe" the notice
<br />is given. . , . .... .
<br />UnJess Lender and Borrower otherrovise agree in wri!ing, any ..pplication of proceeds to principal shall not extend
<br />or postpone the due date of the monthly MYments referred to in paragrnphs 1 and 2 or change the amount of the payments.
<br />If under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from danu.ge 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.
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<br />Fonn 3021 Il1O (pat~ 1 015 patoiS)
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