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<br />UNtfORM COVENANTS, Borrower and LenderJL-ranf!l2~ 9f~I~S:
<br />I. Payment of PriDd.... ud lateral; Prepayment ult Late Cbar1IeS. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and lale charges due under the Note.
<br />2. Faada for Tuea IDd I_ce. Subject to applicsble law or to a wrillen waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under Ihe Note, antillhe NOle is paid in full, a sum ("Funds") equal to
<br />one-twelfth of: (a) yearly tales and assessments which may attain priority over Ihis Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />monpgc insurance premiums, if any. These items an: called "escrow items." Lender may eslimate the Funds due on the
<br />basis of current data and reasonable estimates offuture escrow items,
<br />The Funds shall be held In an institution the deposits or accounts of which an: insured or guarameed by a federal or
<br />dale agency (including Lender if Lender is such an institution). Lender shan apply the Funds to pay Ihe escrow items.
<br />Lender may not charge for bolding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicahle law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds, Unless an agreement is made or applicable law
<br />requires interest to be paid, Lender shan not be required to pay Borrower any interest or earnings on the Funds, Lender
<br />shall give to Borrower. without charge, an annual accounling of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debil to the Funds wa~ made, The Funds are pledged as additional security for the sums secured by
<br />this Seeurity Instrument,
<br />If the amount of the Funds beld by Lender, together with the future monlhly payments of Funds payable prior to
<br />the due dates of the escrow ilems. shall exceed Ihe amount required to pay the escrow items when due. the cxcess 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 ilems when due, Borrower shall pay 10 Lender any
<br />amount necessary to make up the deficiency in one or more paymenls as required by Lender.
<br />Upon paymenl in full of all sums secured by this Security Instrument, Lendcr shall promptly refund 10 Borrower
<br />any Funds held by Lender. If under paragraph 19the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior 10 the sale of the Property or ils acquisition by Lender, any Funds held by Lender at the time of
<br />application a.~ a credit against the sums secured by this Securily Instrument.
<br />3. Appllcalion or Payments. Unless applicable law provides otherWise. all paymenls received by lender under
<br />paragraphs I and 2 shall be applied: firsl, to lale charges due under the Note; =ond, lo prepayment charges due under the
<br />Note; thtrd.to amounts payable under parugraph 2; fourth. to mtcresl due; and last. 10 pnnctpal due.
<br />4. 0Iargea; Liens. Borrower shall pay all 1 ales, assessments, charges, finc. and Impositions altributable to the
<br />Property which may altain priority over this Security In\lrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obhgations in Ihe manner pnwllJcd In pamgraph 2, or If nol paid 111 that manner, Borrower shall
<br />pay them un lime directly to the person owed payment. Ilorrowcr shall promplly funllsh 10 Lender all nOlices of amounts
<br />to be patd under lhis paragraph. If Borrower mllkes Ih""" paymenls directly. Borrower shall promptly furnish to Lender
<br />receipt. evidencing the payments.
<br />Borrower shall promptly dl5Charge any hen wlllch has prlllrny over till' SeCum)' Instrument unless Borrower; (II)
<br />agrees in wrillng to Ihe payment oflhe obhgallon sa:ured by the lien 10 a manner accepluble lOlender; (b) contests m good
<br />faith the hen by, or defends against enforcement of the lien 10. legal proceedllltts which In the lcnder's opimon ope.....te 10
<br />preventlhe enforcemenl of the lien or forfenure of any pan of the Property. nr (c) secures from the holdcr of Ihe lien an
<br />agrcemenl !lIllIsfactory 10 Lender subordinating the hen lOthls Secunly Instrume,U If lendcr determmes thaI any parI oj
<br />lhe Property IS subJcct to a lien which may allltln pnonty over 11m Secunty Instrument. under may gIVe Dorrower a
<br />notu:c IdentifYing the: hen. Borrower ,-hall ~us.fy the hen or lilk" one nr ml1rc of the lIcl1l1n~ !'o.C'l forth above wuhin 10 day~
<br />of the givmg of no lice,
<br />5. HllZllnllnlunnce. Borrower shall keep lhe Improvemenls now eXlSllng or hereafter erecled un the Property
<br />insured aaainstloss by fire, haZllrdsmcluded wuhm the ternl "e'lended co,'erage" and any other hazards for which lender
<br />requires insurance. This insurance shall be maintained in the amounlS and for the periods thai Lender requires, The
<br />insurance carrier pro\',ding the insurance shall be chosen by Borrower subjecl 10 lender's approval which shall nol be
<br />unreasonably withheld.
<br />All U1surance poheles and renewals shall be acceptable to Lender and shall mclude a standard mortgage clause,
<br />Lender shall have Ihe nght 10 hold lhe pohcles and renewals, If lender requires. Borrower shall promptly give 10 Lender
<br />all receipts of paid premiums and renewal notices, h: the evenl of loss. Borrower shall give prompt nOlice 10 the insurance
<br />carner and lender. Lender may make proof ofless if not made promplly by Borrower,
<br />Unless under at.d Dorro,",'er otherwtse agree ID writing. insurance proceeds shall be apphed 10 restoralion or rcp..ir
<br />of the Property damlli\ed. if th. restoration or repair is economically feasible and l.endcr's secunty IS not I..",ned, If the
<br />restoration llr repair" not economically feasible or Lender's secunty would be lessened, Ihe Insurance proceeds shall be
<br />applied to the sums secured by Ihis Securily Instrument, whether or not then due, with any e.cess paId to Dorrower, If
<br />Borrower abandons the Property, or does nol answer within 30 days a notice from Lcnder that the insurance carrier has
<br />oll'ered to sellle a claim. then Lender may collect the insurance proceeds, Lender may use Ihe proceeds 10 repair or restore
<br />tbe Propeny or 10 pay sums secured by this SecurilY Instrument, whether or not then due. The 30-day penod Will begin
<br />when the notice is given,
<br />Unless Lender and Borrollo'er otherwise agree in writing, all)' applicatIOn of proceeds to pnnclpalshall not eKtend or
<br />postpone the due date ofthe monthly payments rcfened to in paragraphs 1 and 2 or change the amounl of the pay'menls, If
<br />under paragraph 191he Property is acquired by Lender, Borrower's right to any insurance poliCies and proceed, resuhmg
<br />from damage 10 the Property prior to the acquisillon shall pass 10 Lender to the extent of the sums ,ecured by thiS Secunty
<br />Instrumcn! immediately prior to the acquisilion
<br />6. Praenatioo aDd Maintenance or Property; Leaseholda. Dorrallo'er shall not dcslroy. damage III sullstanllally
<br />change the Property, allollo' the Property to deteriorate or commit wMte. If thIS Secunty Instrumenl I' on /I le,\Sehold.
<br />Borrower shall comply with the provtSlons of the lease, and if Borrowcr acquir.. fee IIlle lo Ihe Property. the lea,ehold and
<br />fee title shall not merge unless lender agrees to the merger in wnting.
<br />7. Protection or lender's Ripb in tbe Property'; Mortgqe (R5uran<<. If Borrower falls I<l perfonn the
<br />covenants and allrcemenls conlained in this SecurilY Instrumenl. or there IS a legal proceeding Ihat may slgmficantly afft'Ct
<br />Lender', rights in Ihe ProperlY (sueh as a proceedmg in bankruptcy, probale. for condemnatu1n or to enforce lallo's or
<br />regulallons),lhell ~der may do and pay ror whatever i. nccessary to protccllhe value of the I'roperly and Lender', nghls
<br />in 1M Property, Lend6's a<:lions may include paying any sums secured by a lien which has pnonlY ovcr thIS SecurllY
<br />lnllrument, appearing in coun, paying rea.'IOnable al1omey" fees and entering on lhe Property tn make repnlrs Although
<br />latdcr may take acllOn undelthispnragraph 7. ~derdOC' not ha'C to do!;()
<br />Any amounts dlSbuned by Lender under thIS paragraph 7 shall become addItional dcbt of Borro" er secured hy I hlS
<br />Seeunly In,trument Unles.. Borrower and lender agree to other term, of paymen!. IIt",e amounts ,hall bear mteresl from
<br />tM date 01 di.bunement at the Nole nile and shall be payable. wnlt IIlleres!. upon 11<'11"" f,nm Lender hI Ilorro",er
<br />mjllatinl Jl'lymcnl
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