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<br />UNIFORM COVENANTS Borrower and Lender co\'enanl and agree a~ follow~:
<br />1, Payment or Principal and Interest; Prepayment and Late Charlles. Borrower ~hall promptly pay when due
<br />the principal of and interest on the debt evidenced by lhe Note and any prepayment and late charge~ due under the NOll:,
<br />2. Funds ror Taxes and Insurance, Subjecl to applicable \Il" or to a wrilten waiver by Lender, Borrower shall ,Jay
<br />to Lender on the day monlhly payment~ are due under the NOle, unlil the Note is paid in full. a sum ("Fund~"1 equJI 10
<br />one.twelflh of: (a) yearly taxes and assessments which may altain priority ovet lhi~ Security Instrument: (bl yearly
<br />leasehold payments or ground rents on the Property, if any; (cl yearly hazard msurance premiums: and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items," Lender may estimate the Funds due on Ihe
<br />basis of currenl data and reasonable estimates offul ure escrow items.
<br />The Funds shall be held in an institution the deposils or accounts of which are insured or guaranleed by a federalllr
<br />stale agency (including Lender if Lender is such an institution), Lender shall apply the Fund~ 10 pay Ihe e~crow' item~.
<br />Lender may not charge for holding and applying the Funds, analyzing Ihe accounl or verifying Ihe escrow ilems, unless
<br />Lender pays Borrower interest on Ihe Funds and applicable law permils Lender to make such a charge. Borrower and
<br />Lender may agree in wriling thaI inleresl shall be paid on the Funds. Unless an agreement is made or applicable I:Jw
<br />requires inleresl to be paid, Lender shall not be required to pay Borrower any mterest or earning~ un the Fund~. Lender
<br />shall give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to Ihe Fund~ and the
<br />purpose for \\'hlch each debit to the Funds was made. The Funds are pledged as additional securny for the ~ums secured by
<br />IhlS Security Instrument.
<br />If the amounl of Ihe Funds held by Lender, logelher with Ihe future monthly payments of Funds payable prior to
<br />Ihe due datC!i of the escrow items. shall exceed the amount required to pay the escrow items when due, the excess shall be.
<br />at Borrower's option, enher promptly repaid to Borrower or credited 10 Borrower on monthly payments of Funds, If the
<br />amount of the Funds held by Lender is nOI sufficient to pay Ihe escrow items when due. Borrower shall pay \0 Lender any
<br />amount necessary 10 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 Inslrumenl, Lender shall promptly refund to Borrower
<br />IIny Funds held by Lender. If under paragraph 19 Ihe Property is sold or acquired by Lender, Lender shall apply. no later
<br />than immedialely prior to the sale of lhe Property or its acquisition by Lender. any Funds held by Lender at the lime of
<br />applicalion as a I.:redit agamstlhc sums secured by this Securily Instrument,
<br />3. Application of Payments. Unless applicable law provides otherwi~e, all paymenls received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note: second. to prepaymenl charges due under the
<br />NOle: third, to amounls payable under paragraph 1: fourth, to interest due; and last, to prinCipal due
<br />4. Charles: Liens. Borrower shall pay all taxes. assessments. charges. fines and imposlllOns allributable to Ihe
<br />Propeny which may attam pnonty o\'er thl~ Security Instrument, and leasehold payments or gwund rents, If any,
<br />Borrower shall pay' these obligaltons In the manner proVIded m paragraph 2, or if not paid in lhat manner, Borrower shall
<br />pay them on time dlreclly 10 Ihe puson owed payment Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid undf''r Ihis paragraph, If Borrower makes the~e paymenls dIrectly, Borrower shall promptly furnIsh to Lender
<br />recetpts evidenCing lhe paymenls,
<br />Borrower shall promptly dl!,charge any hen which has pnofllY O\'er this Security Instrument unless Borrower: (al
<br />agrees in wriling 10 the payment of the obligalton secured by the hen In a manner acceptable 10 Lender; (bl contests in good
<br />faith the lien by, or defends against enforcement of Ihe hen In. legal proceedings which in the Lender's opinion opera Ie 10
<br />prevent the enforcement of the lien or forfellure of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordmating Ihe lien 10 IhlS Secunty Instrument, If Lender determines that any pan of
<br />the Propeny is subject to a lien which may attain pnonl)' O\'er tlm Security Instrument. Lender may give Borro"ocr a
<br />notice identifying Ihe lien Borrower shall saltsfy lhe hen or take onc or more of the aCHons set forth above within 10 days
<br />of the giving of notice,
<br />5. Hazard Insurance. Borrower shall keep rhe Imprcwemenb now existmg or hereafter erected on the Propert\'
<br />insured against loss by fire, hazards included Wlthm the lerm "exlended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained an the amounts and for the periods thai Lender requires, The
<br />insurance carrier prOViding the insunlOce shall be chosen by Borrower subject to 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 mortgage c1au~,
<br />Lender shall have the right to hold Ihe policiC!; and renewals, If Lender requir~. Borrower ~hall promptl). gi\'e to Lender
<br />all receipts of paid premiums and renewal notices, In the event of las~. Borrower shall give prompl notice to the insurance
<br />carrier and Lender, Lender may make proof oflass ifnot made promptly by Borrower.
<br />Unless Lender and. Borrower otherwise agree in writing, Insurance proceeds shall be applied to restoratIOn or repair
<br />of Ihe Property damaged. if the restoration or repair is economically feasible and Lender's security is not les~ned. If the
<br />resloralion or repair is not economically feasible or Lender's securily would be lessened, the insurance proceed~ shall be
<br />applied to the sums secured by this Securily Instrument, whether or not Ihen due, with any excess paid to &rrower. If
<br />&Trower abandons Ihe Property, or does not answer within 30 days a notice from Lender that the insurance carrir-r has
<br />offered to settle a claim, then Lender may collect the insurance proceeds, Lender may use the proceeds to repair or restore
<br />the Property or to pay sum~ secured by this Security Instrument. whether or not then due. The 30-day period will begin
<br />when the nolice is given,
<br />Unless Lender and Borrower olherwise agree in writing. any application of proceeds to pnnclpal shall not extend or
<br />poslpone Ihe due dale ofthe monthly paymenls referred to in paragraphs I and 2 or change the amount of the paymenls If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's righl 10 any' insuran~ policies and proceeds resuhll1fc(
<br />from damage to the Property prior to Ihe acquisition shall pass to Lender to the extelll of the sums secured by this Secunty
<br />Instrument immediately prior to the acquisition,
<br />6. Preservation and Maintenance of Propzrty; Leaseholds, Borrower shall nOI destroy. damage or substantially
<br />change Ihe Property, allow the Property to deteriorate or commit waste. If thi~ Secunty Instrument IS on a leasehold,
<br />&rrower shall comply with the proVISions of the lease, and if Borrower acquIres fee ntle to the Property. the leasehold and
<br />fee lille shall nOI merge unless lender agrees to Ihe merger In writing,
<br />7. Protection or Lender', Rights in the Property; Mortgage Insuranee. If Borrower falls 10 perfl'Tm lltl'
<br />covenants and agreements conlained in thiS Security Instrument. or there IS a legal proceedmg that may Significantly aITe.:-(
<br />Lender's rigbls in the Property (such as a proceeding m bankruptcy. probate, for condemnation or to enforl'(' laws or
<br />rel!Ulalions), then Lender may do and pay for whatever is necessary to protectlhe value of the Property and Lender's nghts
<br />in the Property, Lender's actions may include paying any ~um~ ~ecured by a hen whIch ha~ pm'rlly O\i.'r tIllS s........unlj
<br />Instrument. appeanng In court, paying reasonable atlorney~' fl."es and entenng on thl' Property III make n:pal" Ahhough
<br />Lender may take acHon under Ihl~ paragraph 7, Lender does nol ha\e 10 do ~(' t ,)
<br />An)' amounts dlsburloCd by Lender under "liS paragraph 7 shall become addlll('llllll debt of Ilorfl'\\er s('cIIH'd b~ th"
<br />Securlly Instrument l'nless lJorrnwC'r and LendC'r agree 10 other lt~rml ofpayrnC'nl. lhesl." amounls shall "'-'ar Il1lere'l t'ltlll1
<br />Ihe dale or dlsburloCOlenl a! 'he ~n1(' ralt: and \hall be pu~ahlr, \l\l1h Inll'rt:'1. up,'n 11<l(I,'(' fr<lm ll'ndcr 1L' B\\1!<'\\l'r
<br />requesllng payment
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