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<br />UNIFORM COVENANTS Borrower and Lender covenanl and agree as follows:
<br />I. Payment of Principal and Interest; Prepayment and ute Charges. Borrower shall promptly pay when due
<br />Ihe principal of and interesl on the debl evidenced by Ihe NOle and any prepayment and lale charges due under the Note.
<br />2. Funds for Tnes and Insurance. Subject 10 applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on Ihe day monlhly paymenls are due under lhe Note. until the Nole is paid in full. a sum ("Funds") equal 10
<br />one-twelfth of: (a) yearly taxes and assessmenls which may attain priority over this Securily Instrument; (b) yearly
<br />leasehold paymenls or ground rents on the Property. if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums. if any. These ilems are called "escrow ilems." Lender may estimate 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 accounlS of which 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 ilems.
<br />Lender may not charge for holding and applying Ihe Funds. analyzing the accoum or verifying the escrow items. unless
<br />Lender pays Borrower interesl on the Funds and applicable law permils Lender to make such a charge, Borrower and
<br />Lender may agree in wriling Ibal interesl shall be paid on Ihe Funds. Unless an agreemenl is made or applicable law
<br />requires intereslto be paid, Lender shall not be required to pay Borrower any interesl or earnings on the Funds. Lender
<br />shall give to Borrower. without charge. an annual accounting of the Funds showing credits and debils to the Funds and Ihe
<br />purpose for which each debit to the Funds was made, The Funds are pledged as additional security for the sums secured by
<br />Ihis Security Instrument.
<br />If the amounl of the Funds held by Lender. together wilh Ihe future monthly payments of Funds payable prior to
<br />lhe due dates of the escrow items, shall exceed lhe amount required 10 pay the escrow ilems when due. Ihe excess shall be,
<br />at Borrower's option, either promplly repaid to Borrower or credited 10 Borrower on monthly payments of Funds, If the
<br />amounl oflhe Funds held by Lender is nOl sufficient to pay the escrow items when due, Borrower shall pay 10 Lender any
<br />amount necessary 10 make up the deficiency in one or more payments as required by Lender,
<br />Upon paymenl in full of all sums secured by this Security I nstrument. Lender shall promptly refund 10 Borrower
<br />any Funds held by lender. If under paragraph 19 the Property is sold or acquired by lender. Lender shall apply, no later
<br />than immediately prior to lhe sale of the Property or its acquisilion by Lender, any Funds held by lender al the time of
<br />applicalion as a credil againsllhe sums secured by Ihis Security InSlrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by lender under
<br />paragraphs I and 2 shall be applied: firsl. to lale charges due under the Nole; second, to prepayment charges due under Ihe
<br />Note; third, to amounts payable under paragraph 2; fourth, 10 interest due; and lasl, to principal due,
<br />4. Charges; Liens. Borrower shall pay alllaxes. assessmenls, charges, fines and impositions attribulable to the
<br />Property which may allain priorily over Ihis SecurilY Instrument. and leasehold paymenls or ground rents. if any.
<br />Borrower shall pay these obligations in the manlier provided in paragraph 2, or if nol paid in Ihal manner, Borrower shall
<br />pay Ihem on time direclly to lhe person owed payrnenl, Borrower shall promptly furnish to Lender all nOlices of amounlS
<br />to be paid under Ihis paragraph, If Borrower makes Ihese payments direclly. Borrower shall promplly furnish 10 Lender
<br />receipls evidenCing lhe paymenh,
<br />Borrower shall promplly discharge any lien whieh has priority over this Security Instrument unless Borrower: (a)
<br />agrees In writing 10 the paymentllfthe obligallon secured by lhe lien in a manner acceplable 10 lender; (b) contests in good
<br />faith the Iiell by. or defends againsl enfor~ment of lhe lien in, legal proceedings which illlhe Lender's opinion operate to
<br />prevenl the enforcemenl of Ihe lien or forfeiture of any pari of Ihe Property; or (c) secures from Ihe holder of the lien an
<br />agreemenl SIltisfaclory to Lender subordinaling the lien 10 Ihis SecurilY Instrument. If lender del ermines that any part of
<br />the Property is subject to a hen which may allain priority over this SecurilY Instrument, lender may give Borrower a
<br />noti~ identifying the lien. Borrower shall satisfy Ihe lien or lake one or more of the a':tions sel forth above within 10 days
<br />of the giving of nOlice.
<br />5. Huanllnsuranee. Borrower shall keep the improvemenls now existing or hereafter erected olllhe Property
<br />insured againslloss by fire. hazards included wllhln the lerm "eslended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maimained in lhe amounts and for the periods Ihat Lender requires, The
<br />insurance ciirr;er proViding the insurance shall be chosen by Borrower subject to lender's approv11 which shall not be
<br />unreasonably withheld,
<br />All insurance pohcies and renewals shall be acceptable to Lender alld shall include a slandard morlgage clause.
<br />Lender shall have Ihe right to hold Ihe policies and renewals, If Lender requires. Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal nOlices. In the event of loss. Borrower shall give prompt nOlice to Ihe Insurance
<br />carrier and Lender. Lender may mal-: proof of loss If 1I0t made promptly by Borrower,
<br />Unless Lender and Borrower otherwise agree In wrillng, Insurance proceeds shall be applied to resloralion or repair
<br />of Ihe Property damaged. if Ihe restoralion or repair is economically feasible and Lender's securily is nol lessened. If the
<br />resloralion or repair is not economically feasible or Lender's securily would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by lhis Security Instrument, whether or not Ihen due, with allY escess paid to Borrower. If
<br />Borrower abandons lhe Property. or does not answer withlll 30 days a nollce from lender thaI the insurance carrier has
<br />offered to settle a claim, lhen Lender may collecllhe Insurallce proceeds, Lender may use the proceeds 10 repair or restore
<br />the Property or to pay sums secured by this Securily Inslrument. whether or 1101 then due, The 3D.day period will begin
<br />when the notice is given.
<br />Unless lender and Borrower olherwise agree In writing, any applicalion of proceeds to principal shall not eSlend or
<br />postpone the due date of the monthly payments referred to in paragraphs land 2 or change lhe amOunl of Ihe payments, If
<br />under paragraph 19the Property is acquired by Lender, Borrower's rlghl to any IIlsurance policies and proceeds resulting
<br />from damage to the Property prior 10 Ihe acquisition shall pass 10 Lender 10 Ihe estent oflhe sums secured by this Securlly
<br />Instrumenl immediately prior to the acquisition,
<br />6. Presenation and Maintenance of Property; Leaseholds. Borrower shall not deslroy, damage or subslanllally
<br />change Ihe Property, allow the Property to deteriorale or commit waste, If thIS SeCUrlly Instrument IS on a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acqUires fee Iltle tn Ihe Property, Ihe leasehold and
<br />fee tille shall n01 merge unless Lender agrees to the merger in "'filing,
<br />7. Protection of Lender's Rillhts in the Property; ~lortKllKe Insurance. If Borrower falls 111 perform the
<br />covenanls and agreements contained in Ihis Secllrily Instrument. or Ihere IS a legal proceedlllg thnl mny S1gllllknnlly atTect
<br />Lender's righls in the Property (such as a proceeding in bankruptcy, probale, for condemnn!lon or to enforce law, or
<br />regulations).lhen Lender may do and pay for whale"er is necessary 10 protecllhe value oflhe Property and Lender', fights
<br />in the Property. Lender's actions may mclude paying allY slims secured by " hen which has pnonty mer Ih" SeCUnI~
<br />Instrument, appearing in COUrl. paymg rea'onable attorneys' fees and entenng on the Property to make repn'" All hough
<br />Lender may lake action under this paragraph 7, Lender does not ha,'e 10 do so
<br />Any amounts disbur!oc:d hy Lender under IhlS paragraph 7 ,hall become additIOnal deht of Uormwer 'ec'ured h~ IhlS
<br />Security In51rUmelll. Unless Ilorro\\'cr and LCllder agree 10 mhcr terms of payment. Ihesc amount, ,hall bear IIllerc't from
<br />Ihe darc of disbur!iCmenl 61 the NOle TIIte and ,hall hc pn~'nble, With IOler",1. upon nollce from L',ndl'f II' lloml\\'Cf
<br />requesling payment
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