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UNIFORN COVENAmll, Borrow.r and Lend.r cov.nant and agre. as fOIlO~~ - 1 0 464 5 1. PayJBtlll of PrIncipal ..d Inl......; Prepaymenlond Lale Chug.., Borrow.r shall promptly pay wh.n duc th. principal nfand inl.rest on the d.bt .vid.need by th. Not. and any pr.paym.nt and lat. eharg.s due und.r th. Not.. 2. Fu..... ror Ta,,"ond InlUron.., Subjecllo applicabl.law or 10. wrilt.n waiv.r by L.nd.r, Borrow.rshall pay 10 Lender on Ih. day monthly paym.nls ar. due und.r Ih. NOI., unlilth. Nol. is paid In full, . sum ("Funds") equal to nn..lw.mh of: (a) yearly taxes and assessm.nts which may attain priorilY ov.r this Sceurity Instrum.nl; (h) y.arly I....hold paym""s or ground renls on Ihe Property, if any; (c) yearly hazard insurance premiums; and (d) yearly monpac insurance premiums. if any. These items are called "escrow items." Lender may estimate the Funds due on the basis of current data and rcuonablc estimates of future escrow items. Th. Funds shall be h.ld in an institution th. d.posits or accounts of which are insured or guaranteed by a f.d.ral or stat. qency (including Lend.r if Lend.r is such an instilution), Lend.r shall apply th. Funds 10 pay th. escrow il.ms. Lender may not charg. for holding and applying Ih. Funds, analyzing the account or v.rifying th. escrow items, unless Lender pays Borrower interesl on Ihe Funds and applicablc law pennits Lend.r 10 make such a charg.. Borrnwer and Lender may agree in writing that interest shan be paid on the Funds. Unlcss an agreement is made or applicable law requires inlCfCSl to be paid, Lender shall not be required to pay Borrower any interest or earnings on the funds. Lender shaD give to Borrower, without charge, an annuli accounting of the Funds showing credits and debits to the Fnnds and the purpose for which each debit 10 the Funds was mad., Th. Funds arc pledged as additional security for the sums secured by this Security Instrument. If the amonnt of the Funds held by Lend.r, together with the fUlur. monthly payments of Funds payable prior to the due dales crlbe escrow items. shall exceed the amount required to pay the escrow items when due. the excess shall be, at Bonowec'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 not sufficient to pay the escrow items when due. Borrower shall pay to Lender any amount necessary 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 Illstrum.nt. Lend.r shall promplly r.fund to Borrow.r any Funds held by Lend.r. lfunder paragraph 19th. Propeny is sold or acquired by Lend.r, L.nder shall apply, no lat.r than immediateJy prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Application of P.ymenb. Unl... applicabl. law provides otherwise. an paym.nts received by Lend.r under paragraphs I and 2 shall be applied: firsl, to laIC eharges due und.r Ih. Note; second, to prepaymenl eharges due under thc Note; third. to amounts payable under paragraph 2; founh, 10 intcres, duc; alld last, to principal dnc. 4. (."bar&a; IJCDI. Borrower shall pay all r.axes, assessments, charges. fines and impositions attributable to the Prop:rty which may attain priority, over this Security Instrument. and leasthold payments or ground rents. if any. Borrower shall pay these obligations in Ih. mann.r provided in paragraph 2. or if not paid in that manner, Borrow.r shan pay them on lime direclly to .h. person owed payment. Borrower shan promptly furnish to Lender an nOlices of amounts 10 be paid onder this paragraph. If Borrower makes these payments directly. Borrower shall promplly furnish 10 Lend.r rccc:iplS evidencing the payments.. Borrower shall promptly discharge any lien which has priority O\ler this Security Instrument unless Borrower: (a) agrees in writing to the payment of th. obligalion secured by th.lIen in a mann.r acceptable 10 Lend.r; (b) conlests in good foith the lien by. or defends against enforcement nf Ihc lien in. legal proceedings whieh in th. Lend.r's opinion operate 10 prevent the enforcement of the lien or forfdturc of any part of th. propeny; or (e) secures from Ih. holder of the lien an agreement satisfaelory to Lend.r subordinating the lien 10 Ihis Security Instrum.nJ. If Lend.r d.lermines that any pan of the property is subject to a lien which may attain priority O\ler this Security Instrument. Lender may give Borrower a notice identifyinJ the lien. Borrower shall satisfy the lien or lake one or more of the actions set forth above within 10 days of the giving of nOlice. S. Huanllaaurmee. Borrower shall k.eep the improvements now cJlisting or hereafler erected on the Property insured apinst loss by fire. hazards included within the lenn .'extended covcragc" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mongage clause. Lend.r shall bave the righlto hold the policies and renewals. If Lend.r requires. Borrow.r shan promptly give to Lend.r all rcccipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lendcr. Lender may make proof of loss if not made promptly by Borrower. Unleu Lender and Borrower othcrwi:se agree in writing. insurance proceeds shall be applied to restoration or repair of the Propeny damaged. if the restoralion or repair i. economically feasible and Lender's security is notl....ned. If lhc restoration or repair is nol economically feasible or Lender's security would be lessened. the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid 10 Borrower. If Borrower abandons the Property. or does nal answer within 30 days a notice from Lender that the insutance carrier has oII'cn:d to settle: a claim, then Lender may collect the insurance rroceeds. Lender may use the proceeds to repair or restore the Property or to pay sUm! secured by this SecurilY Instrument, whether or nol Ihen du.. Th. 3D-day period will begin when the notice is given. Unleu Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amounL of the payments. If uoder paragraph 19 lh. Property is acquired by Lender, Borrower'. right to .ny insurance policies and proceeds resulting from dama8e to the Property prior to the acquisition shall pass to Lender to the extent of the 5ums secured by this Securily Instrument immediately prior to the acquisition. 6, ~tion and MaInt........ or PropcrJa'; Lcuebohb. Borrower shall not destroy. damagc or substantially chaole the Property. allow the Property to deteriorate or commit wasle. If this Security Instrument is on a leasehold. Borrower Ihall compl)' witb the provisions. of the lease. and if Borrower acquires fee litle to the Propeny, the leasehold and fee title ihall not mers;e unlcu Lender agrees to the merser in writing. 7. Prolection of Laoder'. Rl&hta 1ft the Property; MortPKe lnauronce. If Borrow.r fails to perform the covenants and qreemenlS contained in this Security Instrument. or there IS a legal proceeding thlt may significantly affect Lc:nder"s riahll in the Property (Iuch &5 a proceeding in bankruptcy. probate, for condemnation or 10 enforce laws or rqulatiOlll). then Lender may do and pay for whatever is necessary to protect the value of the Pr~ny and Lender's righls in the Property. Lender's actions may include paying any sums secured by a lien which has priont}' over this Security Im.uument. appearing in coun, paying retiOtllble .uome)'s' fees and entering on the Propeny 10 make repairs. AlIhough I..ender may take action under this paragraph 1. Lender does not have to do so 4ny amounts disbuncd by Lender under this paraSTaph 1 shall become additional debt of Borrower secured b)' IhlS Security Instrument. Unless Borrower and Lender agree 10 other lerms or paym.enl. these amounlS shall bear lRlerC!<it from the date of disbursement al the Note rate and shan be payable. With mleres.l. upon notice from lender ltJ Borrower rcqUCllinl paymenl,