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UNIFORM CoVENANTS Borrower and Lender covenant and agree as follow!.: I. ~t of Principal and Inl.r..t; PRpaym.nland Lat. Charg... Borrower .hall promptly pay when due the pnncipal of and interest on Ihe debl evidene<d by th, No.e and any prepaym,nl and lale charge. du, under the NOI', 2. FuadI ror Tu.. uti 1IIIlInIICO, Subjecl'O applicable law or 10 a wnuen waIver by Lender. Borrower .hall pay to Lender on the day monthly payments Irc due under the Note, until the Note is paid in full, a sum ("F~ilds") equal to one-twelfth of: (a) yearly taxes and KSsessments which may attain priority over this Security Instrumentj (b) yearly leaJdJold payments or ground rents on the Property, if any; (c) yearly hazard insuranc, premiums; and (d) yearly monPle insurance premiums. if any. These items Ire called "escrow items." Lender may estimate the Funds due on the basis of current dataand reasonable estimates of future escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or stale agency (including Lender if Lender i. such an instilulion). Lender shall apply the Funds to pay the escrow items. Lender may not charge ror holding and applying .he Funds, analyzing the account or verifying the escrow items, unless Lmder pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing thai int.rest shall be paid on the Funds, Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any intercsl or earnings on the Funds. Lender &han live to Borrower. without charge. an annualaccoUDting of the Funds showilig credits and debits to the Funds and the purpose for which each debit 10 the Funds was made. The Funds are pledged as additional security for the sums secured by this Security Instrumen., If the am<Junt of th, Funds hald by Lender. togelher with Ihc future monthly payments of Funds payable prior 10 the due dates of the escrow items. shall exceed tbe amount required to pay the escrow items when due. the excess shall be. a. Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. Jr the amount of the Funds held by Lender is not sufficient to pay the escrow lIems when due., Borrower shall pay to Lender any amount necessary to make up the deficiency in oneor more payments as requucd by Lender. Upon payment in full of all sums secured by this Security Instrumenl, Lender shall promptly refund to Borrower any Funds bald by Lender, If under paragraph 19.hc Properly is sold or acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Propeny or its acquisition by Lender. any Funds held by Lender al the time of application as a credit againstlhe sums secured by Ihis Securi.y Instrument. 3. AppUcatioa or Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs I and 2 shall be applied: first. 10 late charges due under the Note; second, to prepayment charges due under the Note; third. to amounts payable under paragraph 2; founh, to interest due; and last. to principal due. 4. C'Ia8raa; Ueaa. Borrower shall pay alltaxcs, assessments, charges. fines and impositions attributable to the Property which may attain priorily.over this Security Instrument. and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if nol paid in that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all nolices of amounts 10 be paid under this paragraph, If Borrower makes Ihese payments directly. Borrower shan promptly furnish to Lender I'1:aIpts evidencing lhe payments, Borrower shall promptly dischuge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of Ih, oblipllon secured by the lien m a manner acceptable to Lender; (b) contests in good faith the lien by. or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operale to prevent the enforcement of the hen or forfeiture of any pan of the Propcny; or (c) secures from the holder of the lien an agreement satisfactory to Lender 5ubordinltina: the lien to this Security Instrument. If Lender detcnnines that any part of the Property is subject to . lien which may attain priority oyer this Security Instrument. Lender may give Borrower a notice idcntifyina the lien. Borrower shall satisfy the lien or We one or more of the actions set forth above within 10 days of .he Bivins of no.ice. 5. Haard IIISIlf'aIM:e. Borrower shall keep the improvements now eJtisting or hereafter erected on the Propeny Imuted apinstloss by fire. I1az.ards Included within the lenn "exlended coverage" and any olher hazards for which Lender laIuires insurance. This insurance shall be nwntained In the amounts and for the periods that Lender requires. The Insurance carrier providing the insurance shall be chosen by Borrower subJec1 to Lender's approval which shaH not be unreuonably withheld, AIllJlSurance poliCIes and renewals shall be acceptable 10 Lender and .hallmclude a slandard mOrlpge clau.., Lender shall have lbe righ.to hold the policies and renewals. If Lender reqUires. Borrower .hall promptly give 10 Lender all recciptJ of paid premiWlll and renewal noti~ ]n the eyent of loss, Borrower shall give prompt notice to the insurance carri... and Lender. Lend... may make proof of loss If no. made promptly by Borrower, Unless Lender and Borrower otherwise agree in wriung. Insurance proceeds shall be applied 10 restoration or repair of the Property damaged. if the restoration or repair is economIcally f...ibl, and Lender's security is nOII....ned. If lhe restoration or repair is nol economically feasible or Lender's security would be lessened. the insurance proceeds shall be applied to the sums iCCurcd by this Security Instrument, whelher or nOI then due. with any excess paid to Borrower. If BolTO'A'ef abandons the Property. or does not answer within 30 days a notice from Lender thar the insurance carrier has oIFered to scnle a claim. then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pal)' sum5 secured by this Security Instrument. whether or not then due. The JO..day period will begin when lbe notice is giyen. Unless Lender and Borrower othen.'isc agree in writing. any application of proceeds 10 principal shall not exlend or postpone the Que date of the monthly pIIyments referred 10 in paragraphs 1 and 2 or change the amount of the payments. If under parqrapb 191be Propcny is acquimi by Lender. Borrower's righl to any insurance policies and proceeds resulling from dam.qe to the Property prior to the acquisition shall pass to Lender to Ihe extenl of the sums secured by thiS Security Instrument immediately pnor to tbe acquisition. 6. PraenaticNI..s MaiatalaDCe of Pr-opetyi Leuebolda. Borrower Sohall not destro)". damage or substantially chanae the Propcny. allow the Properly to deteriorate or commit waste. ]f thiS Securily Instrumenl is on a leasehold, Borrower shall comply with the provisions of the lease. and if Borrower acquires fee tllle 10 the Property, the leasehold and fee title shalJ not meI"'p: unleu Lender qreellO the merger in wriung. 7. ~ of Lader'a RiPta I. lIIe ~ Mort_ Insurance. If Borrower fails 10 perform the covenants and llrecmcnu conwned 10 this. Security Instrument~ or there IS a legal proceeding that may significantly affect J...mder', riPtl in the Prope.ny (weh as . proceedinl in bankruptc)", probate. for condemnation or 10 enforce laws or rqulatioos). tbm Lender may do and pi)' for whatever it. necessary to prolect Ihe ....alue of the Propeny and Lender~s rights in the Propaty. l..ender'1 actlon1 may include payiol any sums secured by a hen w'o'hich has pnority over Ihls SecurilY IllItrumcnt. appeannl In coun. pII)'1n, rcuonable auof1leY!o' fees and enlering on Ihe Propcny 10 make re~in, Allhough I...mder may takeactton under thIS p&ralr.ph 7, Lenderdoa nol n.\'C' todo so Any amounts dlsbuned b)l Lender under this. paragraph 7 shall become addll10nal debl of Borrower secured by IhlS Seamt} Jmtrument Unless Borrower and Lender alree 10 olhrr terms of payment. lhese amounl!t shall bear mteresl from tbe date of dJ.manemenl al Ihe NOle ratr and shall be payable, ....llh lnleres1. upon nOllce from Lender 10 Borrower _TOI poyme," p'~J05329