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<br />UNIFORM COVENANTS, Borrower and Lend.r cov.riantand ag.... a' follows: 88_104591
<br />I. Paymenl of Prlaclpal and lalert!ll; Prepaymeal and Lale Charges. Borrower shall promplly pay when due
<br />Ihe principal of and inl.r"l on Ihe debt evidenced by th. NOI. and any prepayment and lal. charges due under the Note.
<br />2. Funda for Taxes and Insurance. Subject to applicable law or 10 a wriuen waiyer by L.nder, Borrower shall pay
<br />10 Lend.r on Ihe day monlhly payments are due und.r the Notc, unlillhe Nole is paid in full, a ,urn ("Funds") equal to
<br />on.-tw.lRh of: (a) yearly tax.. and assessm.nts which may altain I'riorilY over Ihis Securily Instrument; (b) yearly
<br />leaKhold payments or ground renlS on Ihe Property, if any; (c) yearly hazard insuranc. premiums: and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow il.m,," Lender may "Iimate Ihe Fund, due on Ih.
<br />basis of current data and reasonable ..timates offulure escrow ilems.
<br />TIte Funds shall be held in an inslitution the deposits or accounl' of which are insured or guaranleed by a fed.ral or
<br />state agency (including Lender if Lender is such an inslitution). Lender shall apply Ihe Fund, 10 pay th. escrow il.m"
<br />Lender may not charge for holding and applying th. Funds, analyzing the accounl or v.rifying Ih. escrow ilems, unl..s
<br />Lender pays Borrower interest on Ih. Funds and applicabl. law permits Lender 10 make such a charge. Borrow.r and
<br />Lender may agree in writing Ihat inler..1 shall be paid on Ihe Funds, Unl.., an agreemenl is mad. or applicable law
<br />requires intereslto be paid, Lender shall not be required to pay Borrowcr any int.rest or earnings on the Funds. Lender
<br />shall give \0 Borrower. withoul charge, an annual accounting oflhe Fund, showing credils and d.bits 10 Ihe Fund, and Ih.
<br />purpose for which each debit to Ihe Funds was made. TIte Fund, are pledged as additional securily for Ihe ,urns secured by
<br />this Securily Instrument.
<br />If the amounl of the Funds held by Lend.r. 10g.lher with the fulnre monthly paym.nts of Funds payable prior 10
<br />th. due dates oflhe escrow ilem', shall e.ceed the amounl required 10 pay Ih. escrow ilems when due, Ihe e.cess shall be,
<br />al Borrower's oplion, either promplly repaid to Borrow.r or crediled 10 Borrower on monlhly payments of Funds, If Ih.
<br />amounl of the Funds h.ld by Lend.r is not sufficient 10 pay th. escrow ilems when due, Borrower shall pay to Lend.r any
<br />amounl nece5Sllry 10 make up the d.fici.ncy in on. or more paym.nts as required by Lender.
<br />Upon paymenl in full of all ,urns secured by Ihis Security Inslrument, Lend.r shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 Ihe Property is sold or acquired by Lend.r, Lender shall apply, no lal.r
<br />Ihan immediately prior 10 Ihe sal. of the Property or ils acquisition by Lendcr, any Funds held by Lend.r altbe lime of
<br />application as a credil againsllhe sum' secured by this SecurilY Inslrum.nt,
<br />3. AppUcatioa of Paymenla, Unles, applicable law provid.. ntherwise. all paym.nts receiyed by Lend.r under
<br />paragraphs 1 and 2 shall be applied: fi";I, to late charg.. due undcr the Nole; second. 10 pr.paym.nl charges due under the
<br />NOle; third, 10 amounts payable under paragraph 2; fourth. 10 interesl due; and last, 10 principal due.
<br />4. CIIaraes; UeDI. Borrower shall pay all ta..., assessmenls, charg.., fin.. and imposilions allributable \0 Ihe
<br />Property which may altain priority.ov.r Ihis SecurilY Inslrumenl, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in Ihe manner provided in paragraph 2. or if not paid in thaI manner, Borrower shall
<br />pay them on lime directly to Ihe person owed payment. Borrower shall promptly fumi,h 10 Lender all nOlices of amounts
<br />to be paid under Ihi, paragraph. If Borrower makes these payments direclly, Borrower shall promptly furnish 10 Lender
<br />receipts evidencing Ihe payments,
<br />Borrower shall promptly discharge any lien which has priorily over Ihi, Securily Inslrumenl unless Borrower: (a)
<br />agrees in writing 10 Ihe paymenl oflhe obligalion secured by the lien in a manner acccptablelo Lender; (h) conl..ts in good
<br />faith Ihe lien by, or defends against enforcemenl of Ihe lien in, legal proceedings which in Ihe Lender', opinion operale to
<br />prevent the enforcement of Ihe lien or forfeiture of any part of Ih. Property; or (c) secures from Ih. holder of Ih. Ii.n an
<br />agreemenl satisfactory 10 Lender subordinaling th. lien to Ihis Security Instrument. If Lend.r delermin.. that any part of
<br />Ihe Property is subjecl 10 a lien which may altain priority over this Security Instrumenl, Lender may give Borrower a
<br />notice: idenlifying the lien. Borrower shallsalisfy Ihelien or take one or more of the aClions set forth aboye within 10 days
<br />oflhe giving of notice.
<br />5. HuanlIRlurusce. Borrower shall keep the improvements now ..isting or hereafter erected on Ihe Property
<br />insured againslloss by fire. hazards included within the t.rm ....Iended coveragc" and any other hazards for which Lender
<br />requires insurance. TItis irulUrance shall be mainlained in th. amounts and for Ihe periods thaI Lend.r requires. TIte
<br />insurance carrier providing Ih. insurance shall be chosen by Borrower ,ubjecl 10 Lend.r's approval which shall not be
<br />unreasonably wilhheld.
<br />All insurance policies and ren.wals shall be acccplable 10 Lend.r and shall include a 'tandard mortgage clause.
<br />Lender sha1l have Ihe righllo hold Ihe policies and renewal,. If Lender requir... Borrower shall promplly give 10 Lender
<br />all receipts of paid prem:ums and renewal notices. In Ihe event of loss, Borrower ,hall give prompl notice 10 Ihe insurance
<br />carrier and Lender. Lender may make proof of loss ifnol made promptly by Borrower.
<br />Unless Lender and Borrower olherwise agree in writing, in,uranc. proceed, shall be applied 10 restoralion or repair
<br />of the Propcny damaged, if Ih. resloration or repair is economically feasibl. and Lender's security is nOllessened. If Ihe
<br />restoration or repair is not economically feasible or Lend.r's security would be lessened, Ihe insurance proceeds shall be
<br />applied to Ihe ,urns secured by Ihis Securily Inslrum.nl. whether or not Ihen due, with any escess paid to Borrower. If
<br />Borrower abandons Ih. Property, or does 001 answ.r wilhin 30 days a nolice from Lender that the insul'ance carri.r has
<br />otrcred 10 settle a claim, Ihen Lender may collectlhe insurance proceeds. Lender may use Ihe proceeds 10 repair or restore
<br />the Property or 10 pay sums secured by Ihis Securily Inslrumenl. wheth.r or nol then due. The 3O-day period will begin
<br />when Ihe notice is given.
<br />Unl... Lender and Borrower otherwise agree in writing, any applicalion of proceeds 10 principal shall nol e'lend or
<br />poslpone thed.. da... oflh. monthly paymenls referred 10 in paragraphs I and 2 or change the amounl oflhe payments. If
<br />under paragraph 191he Properly is acquired by Lender, Borrower's righllo any insurance policies and proceed, resulting
<br />from damage 10 the Property prior 10 Ihe acquisilion shall pass 10 Lender to the eXlenl oflhc ,urns secured by Ihi, Securily
<br />Instrument immediately prior to the acquisition.
<br />6. ~atioa ud Maintenance of Pro......; LeaaeholdL Borrow.r shall not deslroy. damage or ,ubstan;ially
<br />change the Property, allow the Property 10 detenOrale or commit wasle, If thi, Security Inslrumenl is on a leasehold,
<br />Borrower shall comply with Ihe provi,ions ofthe lease. and if Borrower acquires fee titlc 10 Ihe Property. the leasehold and
<br />fee lille sha1l nol merge unl... Lender agrees to Ihe merger in wriling.
<br />7. ProtectlOll or Leeder'. Riabla in the Property; MortPlle Insurance. If Borrower fails 10 perform the
<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that ma)' significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy. probatc. for condcmnalion or to .nforce law' or
<br />regulations),lhen Lender may do and pay for whalever is necessary 10 protectlhe value oflhe Property and Lender', right,
<br />in Ih. Propcny. Lender"s aclions may include paying any sums secured by a Ii.n which has priority ov.r thIS Security
<br />Inslrument, appearing in court. paying reasonable auom.ys' fees and enlenng on the Property to make repairs. Although
<br />Lender may lake action under Ihis paragraph 7, Lend.r does nol havc 10 do so.
<br />Any amounts disburKd by Lender under Ihi, paragraph 7 shall become addiuonal d.bt of Borrower ,ecured by thIS
<br />Securily lnslrumenl, Unless Borrow.r and Lender agree to oth.r term' or paym.nl. these amounlS shall bear IDlerest rrom
<br />the date of disbursement at the Note rate and shall be payable. wl1h interest. upon notice from Lender 10 Borrower
<br />req....tinl paymenl,
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