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88- 1052'75 UNIFORM COVENANTS. Borrower and Lendercovenanland agree o. fonows: I. "-YlllCllt of PrIncipal aad Interest; Prepayment aad Late Chara", Borrower sh.n promptly poy when due the principal orand Interest Dn the debt e.idenccd by lhe NDte and any prepoymenl .nd lale charges due under the Note, 2. Fun'" forT..... aad IDluraace. Subject to opplicable low Dr tD 0 wriUen waiver hy Lender, Borrower .hol' pay 10 Lend... on the day monthly paymenls are due under the NDte, unlil.he Note is poid in full, a sum ("Fund.") equal 10 one-twell\h Dr: (a) yearly taxes and ......ments which may aUoin priority Dver this ~urity lnstrumenl; (b) yearly leasehold payments or ground rents Dn the Propeny, if any; (c) yearly hazard insurance premiums; and (d) yearly monplc insurance premiums. iF any. These items are called "escrow items. to Lender mny estimate the Funds due on tbe basis of current data and reas.:ln.ble ..timates Drfuture escrow Items, The Funds shall be held in an institution the deposits Dr oec:ounts Dr which ore insured or guor.nlccd hy a rederal or .lale agency (including Lender ir Lend... is such an institution). Lender sh.lI opply lhe Fund. tD pay the escrow ilems, Lender may nol charge ror hDlding and applying the Funds, .nalyzing Ihe account or .erirying the escrow Items, unless Lender pays Borrower Interest Dn Ihe Fund. and applicable low permits Lender 10 moke .uch a charge, Borrower and Lender may agree In writing that interest shall be paid Dn the Foods, Unless an ogreement Is mode or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge. an annual accounting of the Funds showing credits and debits to the Funds and the PUl)lOSt for which each debittD the Funds was made, The Funds are pledged as additionol security ror lhe .ums secured by this Security InJlrumenL Irthe amount or the Funds held by Lender, logether with the future mDn.hly payments or Funds payable prior to the due dates of the escrow items. shall exceed the amount required to pay the escrow items when due. the excess shall be, 01 Borrow....s option, either promptly repaid to Borrower or credited 10 Borrower on monthly poyments or Funds, If the amDoot or the Foods held by Lender is nol suflicienllo pay the escrow items when due. Borrower shall pay tD Lender any amount necessary to make up the deficiency in one or morc payments as required by Lender. Upon payment in run of all sums secured by this ~urity Instrument. Lender shall promptly refund 10 Borrower any Funds held by Lender. If under paragraph 19 the Propeny is sold or ocquired by Lender, Lender shall opply, no 10ler than immediately 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. Appncatloa of Payments. Unless opplicable low provides olherwise. oil payments received by Lender under paragraphs 1 and 2 shall be applied: first, '0 late chorges due under the Note; second, to prepayment charges due under the Nott; third, to amounts payable under paragraph 2j founh. to interest due; and last, to principal due. 4. CIwges; U..... Borrower shall pay aIIlaxes, ossessments, charges. fines and impositions ollribulable to lhe Property which moy oltain priority. over this Securily Inslrument, and leasehold payments Dr ground rents, ir any, Borrower shall pay these Dbligations in the mann... provided in paragraph 2, or if not paid in tho. monner, Borrower shall pay them Dn time direct1y to the person owed payment. Borrower shall promptly rurnish to Lender all notices or omDunts to be paid ooder this paragraph, If Borrower makes these payments direclly, BorrDwer shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority o.er this Security Inslrument unless Borrower: (0) agrees in writing to the payment orthe Dhligation secured by the lien in a manner acceptable to Lender. (b) contests in good raith the lien by, or defends against enforcement Dr the lien in, legal proceedings which in the Lender's opiniDn DperatetD pre>ent the enrorcement or lhelien Dr forfeiture or any part Dfthe Propeny; Dr (c) secures rrom the holder Dr the lien an 88fCCIDCIItSltisractDry to Lender subordinating the lien to this Security InstrumenL If Lender determines Ihat any pon Dr the Property i. subject to a lien which may attain priDrity Dver this Security Instrument, Lender may gi.e BorrDwer a notice identifying the lien, Borrower shall satis(y the lien or take one or mDre or the actions set fDm above within 10 doys orthegiy;qgornotic:e. S. HuanI IaIuraDu. Borrow... shall keep the imprDvements now existing or hereafter ...ecled Dn the Properly insured against loss by fire, haz.ards included within the term "exlended coverage" 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 inJuraace carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall nol be ooreuonably withheld, All inJuraace policies and renewals shall be acceptable tD Lender and shall include a standard mongage clause. Lender sha1I have the riplto hDld the policies and renewals. If Lender requires, Borrower shall prDmptly gi.e 10 Lend... all ra:ciptS of paid premiums and renewal notices. In the event of Joss. Borrower shall give prompt notice to the insurance carrier and Lender, Lender may make proor ofloss ir nDt made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shDlI be applied to restoration or repair Dr the Property damaged, ir the restoration Dr repair is economiea1ly feasihle and Lender"s security is not lessened, If the restoration Dr repair is not economiea1ly feasible or Lender's security would be lessened. lhe insurance proceeds shall be applied 10 the sums secured by this Securily Instrument. whether Dr nDt then due, with any excess paid tD Borrower. lr Borrow... abandons the Property, or does nDt answer within 30 days a notice from Lender thai the insulance carrier has olI'ered to settle a claim. then Lender may collect the insurance proceeds, Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or nDt then due, The JO.day period win begin when thenotic:e is given. Unless Lender and BorrDwer Dtherwise agree in writing, any application Df proceeds to principal shall not exlend or postpone the due date Drthe monlhly payments referred to in paragraphs 1 and 2 Dr change the amDunt oClhe payments. If under paragrapb 19 the Property is acquired by Lender, Borrower's rightlo any insuraace policies and proceeds resulling from damage 10 the Property prior to the acquisitiDn. sha1I pass tD Lender lD ,he extent Dr the sums secured by this Security Inslrument immedWely prior to the acquisition. 6. Pracnatioa aad MaiateDaDce 01 ProperJi'; I.eucbolda. Borrower shall not destroy. damage or substantially chanse the Propet1y. allow the Propcny 10 deteriorate or commit wasle. If this Security Instrument is on a leasehold. Borrower shall comply with the proviiions of the lease. and if Borrower acquires fee: title to the Property. the leasehold and fee title sha1I not merge 001... Lender ag..... to the merger in writing. 7. ~.. of Lader.. R1P1I In !he Property; Mo~ IMarance. If Borrow... rails to perform the covenaDlS.and qreements contained in this Security Instrument. or there is a legal proceeding that may significantly affect Lender". npll in tbe Property (such as. proceeding in bankruptcy, probate. for condemnation or to enforce laws or rquIations), then Lender may dD and pay ror whatever is nt:c:eS5llry to proteelthe value or the Property and Lender's rights in the Property. Lender"s actions may include paying any sums secured by a lien which has priority over this Security Imtrumatl, appearinl in count paying rc&iOnBble attorneys" fees and entering on the Propc:ny to make repairs. Although Lender may We action ooder this paragraph 7, Lender does nD. have 10 do 50. Any BDlDoolS disbuned by Lender under this paragraph 7 shall become addllional debt of Borrower secured by Ihis Security Instrument. Unlcu Borrowci" and Lr:nder agree to other terms of payment, these amounts shall bear interest from the date of clilbur5cme:nl at the NOle rate and shaH be payable. with interest, upon noUce from Lender to Borrower reqlltllinl payment.