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UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows: I. Pa)'lllent 01 Principal and Interest; PrePllyment and Late Chlll'Bes. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment ami late charges due under the Note. 2. Funds lor TUell alld luunace. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments are due under the Note. until the Note is paid in full, a sum ("Funds") equal to one-twelfth of: {a} yearly tp. ,es and assessments which may attain priority over this Security Instrument; (b) yearly leuehoJd ,'';; imsl',S or ground rents on the Propeny. if any; (c) yearly hazard insurance premiums; and (d) yearly mongap ia~;\nmce premiums. if any. These items are called "escrow items:' Lender may estimate the Funds due on the basis of current data and reasonable estimates offuture escrow items. The Funds shAll be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (including Lender if Lender Is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charse for holdil18 and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pays Borrower interest on the Fund:l and applicable law permits Lender to make such a charse. Borrower and Lender may asree in writing ' that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall live to Borrower. without charge, an annual iIccounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by thia Security Instrument. If the amount ofthe Funds held by Lender. together with the future monthly payments of Funds payable prior to the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due. the eM:CSS 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 1I0t sutlicient to pay the escrow items when due. Borrower shall pay to Lender any amount Ml:ICSIIU)' to make up the deficiency in one or more payments as required by Lender. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funda held by Lender. If under paragraph 19 the Propeny is sold or acquired by Lender. Lender shall apply, no later than immediately prior to the sale of the Propeny or its acquisition by Lender, any Funds held by Lender at the time of application a a credit &pinst the sums secured by this Security Instrument, 3. A"'~ 01 Pa~t1. Unless applicable law provides otherwise, all payments received by Lender under parqraphs 1 and 2 shall be applied: fint. to late charles due under the Note; second, to prepayment charles due under the Note; third. to amounts payable under parqraph 2; founh, to interest due; and last. to principal due. .t. 0IIrIeI; UeIIL Borrower shall pay all taxes. IISCIIments. charges, fines and impositions attributable to tbe Property wbleb may attain priority, over thll Security lutrument. and leasehold .,.yments or lround rents. if any. Borrowa shall pay these obliptions in the manner provided in parasraph 2. or if not paid in that manner. Borrower shall pay them 011 time directly to the penon owed payment. Borrower shall promptly furnish to Lender all notica of amounts to be paid WIder thll parqraph. If' Borrower makes these payments directly. Borrower shall promptly rurnish to Lender receipts eYidenc:in1 the payments. Borrower shall promptly discharae any lien which hu priority over this Security lutrument unless Borrower: (a) ..... in writilla to the payment of the obliption secured by the lien in a manner acceptable to Lender; (b) contests in pod faith the lien by. or dc(encIa apinlt enforcement of the lien in,1epl proceedinp wbic:h in the Lender's opinion operate to prevail the CDf'orcemeat of the lien or forfeiture or any pan or the Propeny; or (c) secures from the holder of the lien an qnemeAt utiIIlCtoI')' to Lender subordinatin. the lien to this Security Instrument. If Lender determines that any pan of the Property is subject to a lien which may attain priority over this Security Instrument. Lender may live Borrower a Dotice idendfYinl the lien. Borrower shall satisfy the lien or take one or more of the actions set fonh above within 10 days of the livinl of Dotic:c. 5. HuaN......... Borrower shall keep the improvements now existina or hereafter erected on the Propeny insured apinst loss by fire. hazards included within the term "atended coverage" and any other hazards for which Lender requires inIurancc. This insurance shall be maintained in the amounb and for the periods that Lender requires. Th!: inIurancc carrier pnMdina the insurance shall be chosen by Borrower subject to Lender's approval which IhaII noc be lIDI'ClIIOII8bIy withheld. AU iDIurance polic:ia and renewals shall be acc:cptabIe to Lender and shall include a standard mortpp cla\IIC. Leader IbaII bIve the ript to bold tbe polic:ies and renewals. If Lender requires, Borrower IhaII promplly live to Lender all ....pu of paid premiUIDI and recewal notices. In the event of loss. Borrower shall live prompt notic:e to the insurance carrier and Lender. Lender may make proof' of loll if not made promptly by Borrower. 1In1e11 Lender and Borrower otherwise qree in writins. insurance proceedsshaIl be applied to restoration or repair of the Property damqcd. if the restoration or repair is economically feasible and Lender's security is not Iestened. If theftIIIantion or repair it not economically feasible or Lender's security would be lestened. the insurance proceeds shall be applied 10 the sums secured by this Security Instrument. whether or not then due, with any exc:as paid to Borrowet. If Borrowu aIIendonItbe Propeny, or docs not answer within 30 days a notice from Lender that the insurance carrier has ~ to letde a claim. then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums IeCUred by this Security IlIItrument. whether or not then due. The lO-dIy period will beain wbeD lhe Dotice iI liven. UnIeII Lender and Borrower otherwise asree in writins. any applicalion of proceeds to principal shall not extend or pclItpone the due elate olthe monthly payments referred to in parqraphs land 2 or chanle the amoullt oflhe payments, If WIder parqntpb 19 the Propeny is acquired by Lender, Borrower's rilht to any insurance policies and proceeds resulting 'rom damqe to the Propeny prior to the acquisition shall pus 10 Lender to the Cltent of the sums secured by Ihis Security IlIItrwnent immediately prior to the acquisition. .. rr-..... aM M...tIIIaIIce 01 Pro,erfr; LeueIIoItIL Borrower shall not destroy. damaae or substantially cbanp the Property, allow the Propeny to deteriorate or commil wate, If this Security Inslrument is on a leasehold, 1I0uowoer shall comply with the provisions of the lease. and lfBorrower acquires fee title 10 the Propeny. the leasehold and ,. tide sbaU not merae unless Lender qrees to the meraer In writin.. 1. I'reCecdoII 01 lAMer'. RJlbtl In tile Property; Mortpp luurance. If Borrower fails to perfonn the covenants and qreemmtsc:ontained in this Security Instrument, or Ihere IS a legal proceedinl that may silnlficantl)' atrect Lender'. ri&ht. In lhe Property (such.. . proceedlnlln bankruptcy, probate. for condemnation or 10 enfon:c laws or rqularions), then Lender may do and psy for whatever is necessary to prolecl the value of the Propeny and Lender'. ",ht. in the Property. Lencltr's actions may include payinl any lums secured by a lien which hu priorily over this Security Instrument. appearin.ln COllrt, payinl reasonable Iltorneys' fees Ind entering on the Propeny to make repain, Althoulh Lender ma, take action under this psralrlph 7, Lender does not have 10 do so, Any amounts disbuned by Lender under this paralraph 7 shall become additional debt of Borrower secured by this SKurity Instrument, Unless Borrower and Lender Ilree to other terms of payment. these amounts shall bear interest from lhe dale or dllbursemenl II the Note rate Ind shall be payable. wuh interesl, upon notice from Lender 10 Borrower requallnl payment, 88-,103309