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BB- 104630 UNIFDRM COVEN^NTS Borrower Ilod Lender covenant uod ugree us follow!I: I. Payment of Principal and Interest; Prepoyment and Late Charges. Borrower shall promptly pay whell due Ihe principal ofalld interest on the deht evidellced by the Nllte alld any prepaymellt and late charges due under the Nole. 2. Funds for Taxes and Insurance. Subject to opplieable law or to a wrillen waiver by Lellder. Borrower shall pay 10 Lender all the day monthly paymeots arc due under the Note. untillhe Note is paid ill full. a sum ("FUllds") equal 10 onc-tweInh of: (0) yearly taxes and assessments which may ollain priority over this Security Illstrumenl; (b) yearly leasehold payments oc ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mor1gagc insurance premiums. if any. These items are called "escrow items. '0 Lender milY estimate the Funds due on the basis of current data and reasonable estimates afruture escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guarallteed by a federal or state agency (including Lender if Lender is sueh an institution). lellder shall apply the FUllds 10 pay the escrow ilems. Lender may not charge for holding and applying the Funds, analyzing the account or verifymg .he eserow items. llnless Lender pays Horrower interest on the Funds and applicable law permits Lender 10 make such n charge. Borrower Bnd Lender may agree ill writing that interest shall be paid on the Funds, Ullless an ogreemenl is made or applieahle luw requires intereslto be paid, Lender shall not be required to pay Borrower UllY interest or earnillgs lln the Funds. Lellder shall give to Borrnwer. wilhout charge. on annual accountillg of Ihe FUllds showing credits alld dehilS 10 the Funds olld the purpose for which each debit to Ihe FUllds wus mude. The Funds lire pledged as uduitiollal security for thc sums ,eeured by this Security Inslrument. If the IImoullt of the Funds held by Lellder. together with the fulure monthly paymellts of FUllds payuble prior to the due dates of the escrow items, shall exceed the amount required In puy the escrow Items when due. the excess shall be. at Borrower's o(ttion. either promptly repaid to Borrower or credited to Borrower on monthly payments or funds. If the amount of the Funds held by Lender is nol sufficient to pay the escrow item,,- when due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or morc payments U~ required by Lender. Upon payment in full of all sums secured by this Secunty In!l..rumenl. lender shull promptly refund to Borrower any Funds held hy Lender. Ifullder pamgraph 19 the Property" sold or IIcqulred hy Lender. Lender shallllpply.llo later than immediutely prior to the sale of the Property or ils aequisllioll h~ LCllder. 1I11l' FUllds held hy Lender al the lime of application as a credit against the sums secured by Ihis Security InstrUTm:nl. 3. Application of Payments, Unless upplicnble law pro"tdes nthcn...sc. IlI1 Plll'ments receIved by lellder under parugruphs I and 2 shall be applied: 6..t.lo late charges dlle lloder the Nnle; 'eelllld. In prepuymenl charges due ullder the Note: thtrd,to amounts payable under paragraph 2: fllurth. to Illtere,1 uue: Ilnd 111,1. hI prine.pul due, 4. CIutrges; Lieu. Borrower shall pay all taxes, assessment!;, dlUrgcs. fines and impositions al1ributabJe 10 the Propcl1y which may anain priority over lhi!!. Security lnstrumenl. and leasehold paymenl!oo or ground rents. if any. Borrower shall pay these obligations in the manner provided in paragraph 2. PC If nut paid in Ihal manner, Borrower shall pay them on lime directly to the: person owed pnymenl. Dorrower shall prumJllly fUfmsh 10 Lender all notices of amounts to be paid ullder this paragraph. If Borrower makes these pllymcnls dlrec.I)'. nurrower shall promplly furnish 10 lellder receipts evidencing the payments. Borrower shall promptly discharge any lien which has pnority over ,hi... Security Instrument unle.'is Borrower: (3) agrees in writing 10 the payment of the obligation secured by the lien in a munller lIeceptable 10 lellder; (b) contests in good faith the lien by. or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevenl the enforcement uf the liell or forfcitllre of allY part of the Property; or (c) secures frnm the holder of the liell un agreement satisfactory 10 Lender subordinating the lien to this Security Inslrument, If lender determines thot any pon of the Property is subject to a lien wh;ch may altain priority over Ihl... Security Inslrument, Lender may give Borrower a nOliee identifying the Iiell. Borrower shall salisfy Ihe lien or take nile or mure nf thc uctUIDS sel forth IIbove wilhill 10 days of the giving of notice. 5. Huard Insurance. Borrower shall keep the imflro\lemcnl~ nnY.' cAlstmg or hercafter erected nn the Property insured against loss by fire. hazards included within the term "cAtelllJco cll\'cragc" and any olher hazards for which Lemler requires insurance. This insurance shall be maintained in the amount' and ror Ihe pennds that Lender requires. The insurance carrier providing the inSlIrartCc: shull be chosen by Uorrower ~ubJccl 10 lcnder', nppnl\'nl which shall not Ix: ullrc:asollably wilhheld. All insurance policies and renewals shall be acceptable In Lender and ,hull uu:ludc a standard morlgage dause. Lellder shall have the right to hold the policies and renewals. If Lender requires. Burrower sholl promptly give to lender aU receipts of paid premiums and renewal nOlices. In the event of loss, Borrowe:r shan give: prom pi nolice to the insurance currier and Lender. Lender may make proof orIoss if 1l0t made prnmplly hy Borrower. Unless Lender and Borrower otherwise agree in writing, insurance: pn)~...cc:d~ shall be applied 10 restoration or repair of the Property damaged. if the res!Oration or repair is economicully fellSlb1c alld Leoder'> security is not Icsselled. If Ihe restoration or repair is nol cl::onomicnlly feasible or Lender's secunlY would be IC!l.\ened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or nol Ihen due, with any exccS"o:;; paid to Borrower. Ir Borrower abandons the Property, or does not answer within 30 days a notice from Lender thai the insurance carrier h~ offered to settle a claim, then Lender may collect the insurance proceeds. Le:ndcr may use the proceeds to repair or reslore the Property or to pay sums secured by this Security InSlrumellt. whether Ill' nOllhen due. The 30-day period will begin when tne notice is given. Unless lender and Borrower otherwise agree in writing. an~ npplicalion of proceed!'! to principal shall nol extend or postpone the due dole oflhe monthly paymellls referred 10 ill paragraphs I and 2 or change the umount oflhc paymelllS. If under paragraph 19the Property is acquired b,)" Lender, Borrower's righllO all)' insurance poHcit:s and proceeds resulting from damage to the ProperlY prior to the acquisition shall pass to Lender to the exlent of the sums secured by lhi!ol Security Instrument immediately prior to the acquisition. 6. Praenalion and Maintenance of Property; Leaseholds. Borrower shall nol destroy, damage or ~uh!llanllaJly change the Property, allow Ihe: Property to deleriorntc or commit waste. If Ihis Security Instrument is on a Icu!lchold, Borrower shan comply with the provisions ofthe lease. and if Borrmver aequir.:s fee title to the Property. the leusehold and fcetitle shall nol merge ullless lender agrees to the merger ill Writillg. 7. Protection of Lender's Rights in tb. Property; Mortllllil" Insurance. If Borrower fOIls 10 perform Ihe covenants and agreements contained in this Security (nslrumenl, or there is a legal proceeding that may "'Ignilkanlly aired Lender's rights in the Properly (such as a proceeding in bankruptcy. probale, ror condemnalIon or 10 enron:c In","1 or regulations), then lender may do and pay for whatever i~ necessary to protect the value ofrhe Property ilnd Lender', nght, in the Property. Lender's actions may include paying any sums secured by B lien which hu!'. prit)f1IY o'l.er Ihl' SeL'urll)' Instrument. appearing in court. paying reasonable aUomc)'s' fees and entering on the ProperlY 10 make repair" Ahhnug.h Lender may lake action under this puragraph 7, lellderdoes not have.o do '0. Any amounts disbursed by Lender under this pamgraph 7 shall become addillonal debt or UrJrwwcr ..ecured b~' thl~ Securily Instrument. Unless Borrower Bod Lender agree: to other terms of paymenl. Ihc...e amllunt~ shall hear Intl'rl'~t fnlm the date or disbursement al the Note rate and shall be payable, wilh interest. upon nl1lict: from Lt:nder h' nornWil'r requesting payment.