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<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows: 88 - 1 0 2 4 4 5
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the :,rincipal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />~. Funds for Tuea and Insurance. Subjcctto applic!lble law or to a written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") equal to
<br />one-twelfth of: (a) yearly taxes and assessments whieh may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Propeny, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mongage insurance premiums, if any. These items are called "escrow items," Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of whieh are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for 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 to make such a charge. Borrow." -.lD
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicabk "-"
<br />requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to 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 the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Security Instrument,
<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 escrow items, shall ellceed the amount required to pay the escrow items when due. the excess shall be.
<br />at Borrower's 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 refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Propeny is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior to the sale of the Propeny or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument,
<br />3. Applicadon of Payments. Unless applicable law provides otherwise, all payments rccc:ived by Lender under
<br />paragraphs I and 2 shall be applied: fint, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; founh, to interest due; and last, to principal due.
<br />4. CIuIraa; UCDI. Borrower shall pay all talles, assessments. charges, fines and impositions attributable to the
<br />Propeny which may attain priority. over this Security Instrument, and leasehold payments or ground rents. if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2. or if not paid in that manner. Borrower shall
<br />pay them on time directly to the person owed payment, Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments,
<br />Borrower shall promptly discharge any lien which has priority 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 pan of the Property; or (c) 5a:Ure5 from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument, If Lender detennines that any pan of
<br />the Propeny is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set fonh above within 10 days
<br />of the giving of notice,
<br />5. Huard IMuruee. Borrower shall keep the improvements now uisting or hereafter erected on the Propeny
<br />insured against loss by lire, 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 Borrower subject 10 Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mongage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender
<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 make proof of loss ifnot made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurancc proceeds shall be applied to restoration or repair
<br />of the Propeny damaged, if the restoration or repair is economically feasible and Lender's securily 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 or not then due, with any ellCCSS paid to Borrower. If
<br />Borrower abandons Ihe Propeny, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />oll'ered to sellle a claim, then Lendt.r may collect the insurance proceeds. Lender may use Ihe proceeds to repair or restore
<br />the Propeny or to pay sums secured by this Security Instrument, whether or not then due. The 3O-day period will ~n
<br />when the notice is given,
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall nOI elltend or
<br />postpone the due dJlte of the monthly payments referred to in paragraphs I and 2 or change Ihe amount of the payments. If
<br />under paragraph 19 the Propeny is acquired by Lender, Borrower's right to any insurance policies and proceeds resultml!
<br />from damage to the Propeny prior to the acquisition shall pass to Lender to the elltent of the sums secured by thIS Secunt~'
<br />Instrument immediately prior to the acquisition,
<br />6. PreR"ation and Malnteaanc:e of ProperJJj Leueholdl. Borrower shall not destroy, damage or substanually
<br />change the Propeny, allow the Propeny to deteriorate or commit waste, If this Security Instrument is on a leasehold,
<br />Borrower shall comply with the provisions ofthe lease, and if Borrower acquires fee title to the Propeny, the leasehold and
<br />fee title shall not merge unless Lender agrecsto the merger in writing.
<br />7. ProtectiOD of Lender', Rip" In the Propertyj Mortlllae Insurance. If Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument. or there is a legal proceeding that may significantly all'cct
<br />Lender's rights in the Propeny (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 proteclthe value of the Propeny and Lender's rights
<br />in the Property, Lender's actions may include paying 1I \ sums secured by a lien which has priority over this Security
<br />Instrument, appearing in coutt, paying reasonable attorTH' fS' fees and entering on the Property to make repairs, Although
<br />Lender may take action under this paragraph 7. Lender.J es nOI have to do 50.
<br />Any amounts disbursed by Lender under Ihis pr i draph 7 shall become additional debt of Borrower secured by this
<br />Security Instrument, Unless Borrower Ilnd Lender agree 10 other terms of payment. these amounts shall bear Interest from
<br />the date of disbursement at the Note rale and shall be payable, with interest. upon notice from Lender 10 Borro..'er
<br />requestinl payment,
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