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sa=- 101130 U:-;IFOR\1 Co \f::-; A '\TS Borrower and Lender covenant and agree as 1"II<",s l. Payment of Principal and Interest; Prepayment and Late Charges. Bl'rrl'wcr shall prl)mpt!\ pay when due the principal of and interest on the debt evidenced by the ~otc and any prep:Jyrnenl and late charges due under the ~llte 2. Funds for Taxes and Insurance. Subject to apphcable law or to a \\Tlt ten \\ al\ er by Lender. Borro\\ er shall p:ty 10 Lender on the day monthly payments are due under Ihe ~otc. until the "'ote IS paid In full. a sum ("Funds") l'ljual il' one-twelfth of: (a) yearly taxes and a~sessments which may allam pnonty ,ner thl' Securil\ Instrumc'nt: (b) yearly leasehold paymenh or ground rent, on the Property, if any; (c) yearly ha/ard in,uran':e premiums; and (d) yearly mortgage insurance premium" if any. These item, are called "escrow items." Lender may est:mate the Funds due on the basis of current data and reasonable estimate, of fut ure escrow items. The Funds shall be held in an institution the deposits or accounts of which are Insured l'r guaranteed by a federal "r state agency (including Lender if Lender is ,uch an institution). Lender ,hall apply the Funds to pay the e,cro\\ items. Lender may not charge for holding and applYing the Funds, analyzing the account or verifying the escrow items. unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such :l charge. Borrower and Lender may agree in writing that interest shall be paid on the Funds. Cnlcss an agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings l1l1 the Funds. Lender shall give to Borrower, without charge, an a:mual accounting of the Funds showing credits and debih to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional ,ecunty for the sums ,ecllfl:d by this Security Instrument. If the amount of the Funds held by Lender. together with the future monthly payments of Funds payable pm'r Itl the due dates of the escrow items. shall exceed the amount required to pay the escro\\ items when due. the excess shall be. at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds If the amount of the Funds held by Lender is not sufficient to pay the escrow items wbe.. due. Borrower shall pa~ II' Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Upon paymenl in full of all sums secured by this Security Instrument. Lender ~hall rromptl~ refullll tn Bnrnl\\ l'r any Funds held by Lender. If under paragraph I q the Property IS sold or acquired by Lender. Lender ,hall apply. nn bIer than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held b~ Lelll!t-r at the tl!l,l' l,f application as a credit against the sum, secured by Ihis Security Instrument. 3. Application of Payments. Unless applicable law prondes otherwise. all payments nxel\ed h~ L.ender under paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to rrepa~ menl charges due under the Note; third, to amounts payable under paragraph 2; fourth. to interest due; and last. to principal dUe. 4. Charges; Liens, Borrower shall pay all taxes. assessme/llS, charges. fines and Imposnions allnbutable tn the Property which may attain priority over thIS Security Instrument. and leasehold payments or ground rents. If any. Borrower shall pay these obligation, in the manner provided in paragraph 2. N if not paId 10 that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furmsh to Lender receipts evidencing the payments. Borrower shall promplly dIscharge any lien which has pnonty over this St.'Cumy Instrument unless Borrower: (a) agrees in writing to the payment of the obligation ~ured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in. legal pwceedings which In the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) ,ecures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender dete.mines Ihat any part of the Property is subject to a lien which may attain priority over this Security Instrument. Lender ma~ give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above withm 10 days of the giving of notice. S. Hazard Insurance. Borrower shall keep the improvements now exist 109 or hereafter erl'\.'tl-..I ,In the Property insured againslloss by fire, hazards included within the term "extended coverage" and any other hazards fm which Lender require, insurance This insurance shall be maintained in the amounts and for the periods that Lender requires The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender', a' pHl\;!1 \\lnch shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall mclude a standard mortgage clause. Lender shall have the right to hold the poliCIes and renewals. If Lender reqUIres, Borrower shall promptl~ gl\e to Lender all receipts of paid premiums and renewal notices. In the event of lo!.S, Borrower shall gi\e prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Ll'nder and Borrower othel'\\'1se agree 10 wntlng. msurance procel'ds shall be apphed to re..toratlon or repair of the Property damaged. if the restoration or repair IS economically feasible and Lender's security" not lessened. If the restoration or repair is not economically feasible or Lender's St.'Curity would be lessened. the IIIsurance proceeds shall be applied to the sums secured by this Secunty Instrument, whether or not then due, wilh any eXCl~S paId to Borrower. If Borrower abandons the Property, or does not answer wnhm 30 days a notice from Lender that the IIIsurance carner has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the procl'\.'ds ((I repan or restore the Property or to pay sums secured by thts Secunty InMrument, whether or not then due. Thl' 30-day penod Will begm when the notice is given. Unless Lender and Borrower otherwise agree III WrIting. any application ofprocel'ds to prlllclpal ,hall not extend or postpone the due date of the monthl~ paymenh rderred to In paragraphs I and 2 or change the amount of the pa~ ments. If under paragraph Iq the Property is acqUIred by Lender. Borrower's right to any insurance pohcl(~ and proceeds resultlllg from damage to the Property prior to the acquisition shall pass to Lender to the extent (,fthe sums ,ec'ured hy thiS Securit~ Instrument immediately prior to the acquisition. 6. Preservation and \laintenance of Property; l.easeholds. Borrower shall npl destroy, damage or substan1l311~ change the Property, allow the Property to deteriorate or commit waste. If IIIIS SeCUrIlY ""trumelll IS on a lea,ehold, Borrower shall comply with the provisions of the lease. and if Borrower acquires fee lit Ie to Ihe Property. Ihe leasehold and fee title shall not merge unless Lender agrees to the merger III writ mg. 7. Protection of Lender's Rights in the Propert)': \tortgage Insurance. If Borh,wer falls to perfl'rm the covenants and agreements contamed in thIS Secunty Instrument. or Ihere IS a legal pro,'el'dlllg that may Slglllficalllly affect Lender"s rights in the Property (such as a proceeding III l>ankruptcy, probate. for l'l'ndemna!lOn ,'r IP enforce law, pr regulatIOns), then Lender may do and pay for whatever IS necessary to protectlhe \alue (,fthe Property and Lender', nghh in the Property. Lender's aellons may Include paying any ...ums secured by a hen \\hlc'h ha' prIpnly l1\er thl' SecurIty Instrument, appearing in court, paymg reasonable attorneys' fees and enterIng I)n Ihl' Properl\ ll' make repal,' Although Lender may lake action under thIS paragraph 7. lender does nol h;1\ e to do so Any amounts disbursed by Lender under tillS paragraph" shall hel'l'me addltlpnal lId't pf B,)rh)\\er secured hy tillS Security Instrument. Unless Borrower and Lender agree to other lerms (,fpayment. Ihl',e anwunts ,hall bl';tr !Illere" ffllm the date of disbuf'>ement al the Note ratl" and shall be pa~able. \\lth 1l!lere't. up,'n Ih)tlc'e fr')111 I elllkr 1<' B'Hr,)\\t'r requesllng payment t ,t J~ ~11 ...