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dB- 105505 t.:Sll-l)RM CO\'ENA ~TS Borrower LInd Lender co\'enant and ugrce u!t f(llltm... I. Paymenl or .Jrincipal and Interest; Prepayment and totc ChBTN,CS. BornlV.cr ..hull prompt I) PU} when dlle Ihe pnnclpal nfund intcr~1 Ofllhc debt c\,tdenced by the Note and nil}' prcpllymenl am! laic charge"! due under the Nole. 2. Funds rorToxes and Insurance. Subject to applicable law Of In a \'TUlen wili\'cr hy Lender. Borrower ..hull pay !o Lender on the du}' monthly payments ure due under the Note. unlillhe NClIC i~ raid in full. a !\um ("Ful1d~") cqUlllln one-twelfth of: (n) yearly laxc!> nnd assessments which may aHain priorit)' O\'cr tillS Security Instrument; (h) YCllrly leasehold payments Of ground Tenls on .he Property, if any; (e) yearly hazurd insurance premiums; nnd (d) yearly mortgage insurance premiums, if any. These items are called "cscrow items." Lender may estimate the Funds due on the basis. of current data and reasonable estimates of future escrow ilems. The Funds shall be held in an institution the deposits or accounts of which arc insured or guaranteed by II federal or state: agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay Ihe escrow items. lender mDY not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pay.. narrower interest on the Funds Bnd applicable law permits Lender 10 make such u charge, Borrower lInd Lender may agree in writing Ihat interest shull be paid on the Fund~. Unless an agreement is made or applicable la\\1 requirc''i inlerestto be paid. Lender shall not be required to pay Borrower any intcre....t or earnings on the Funds. lender shall give 10 Borrower. without charge. an annual accounting of the Funds showing I;redits and debits to the Funds and the purpose for which each debit to Ihe Funds \.\'a~ made. The Funds arc pledged as addiuonal security for the sums secured by this Security Instrument. If the amount of Ihe Funds held by Lender, together with the future monthly pay men Is of Funds payable prior 10 the due dates of the escrow items. shall exceed lhe amount required to pay the escrow items when due. the excess shall be, at Borrower's option, either promptly repaid 10 Borrower or credited to Borrower on monthly payments of Funds. Ir the amounl of the Funds held by Lender IS not sufficicnttn pay the escrow items when due. Borrower shall pay to Lender any amount necessary 10 make up the deficiency 111 one or more payments as required by LL"11der. Upon payment IJ1 full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Fund" held by Lender. Ifunder paragraph I Q the Propeny i!<o sold or al'quired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisi1ton by Lender, any Funds held hy Lender at the time of application ali a credit against the sums !occured by Ihi!! Securily Instrument. 3. ApplicatiDn Df Payments. Unless applicable law provides otherwi!!c, all payments received by lender under paragraphs I and 2 !'Iohull be applied: first, In late charges due under the Note; scl;ond, 10 prepayment charges due under the Note: third. to umounl!o. payable under paragraph 2; fourth. 10 interest due; and last. to principal due. 4, Charges; Liens. BorrO\\o'er shall pay all tB;t;L'S, assL'Ssmenls. charges. fines and impositions attributable to Ihe Properly which may all am priOr-IY over this Sl"Curity Instrument. and leasehold payments or ground rents. if any. Borrower shall pay th~e obligations in Ihe manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly (0 the person tl\\ed payment. Borrower shall promptly furnish (0 Lendcr all notices of amounts to be paid under IhlS paragraph. If Borrower makes these paymenls direclly. Borrower "hall promplly furnish to Lender receipts evidenCing the paymenl.. Borrower !oohall promplly dl~churge any hen which has pnonly over thi" Secunty Instrument unless Borrower: (a) agrl'eS In wnting to the payment "flhe nhhgal10n !iccured hy the licn in a manncr ilceeplahle (0 Lcnder; (b) contests in good faith the lien hy, or defends agamM enforcemenl oflhe lien in. legal prOl::eedmg!'. \\'hich m the Lender's opinion operale to preventlhe enforcement nf Ihe hen or furfellure of any part of Ihe Property: or (e) !ot:curcs from the holder of the lien an agreement sallsfactory to Lender !'.ubordmaung the hen to thiS Security Instrument, If Lender dClennines that any part of the Property is suhJcct 10 a lien which may auain priority over thi.. Secunty Inslrument. Lender may give Borrower a notice identifying the hen. Borrower shall satisfy lhe Iicn or lake Olle or murc of Ihe aClilln!o. ..cl forlh above within 10 days of the giving of nolice. 5. Hazard Insurance. Borrower !'ohall keep the impnwcmenl!>. now e~l!>.ting or hereafter erected on the Propeny insured againstlnss b~' fire. halllrds mduded wilhin the term "e;t;tendcd co\!erage" and any other hazards for which lender requires insurance. Thl!>. insurance shull he maintained in lhe amount!>. and for the period!! that Lender requires. The insurance carrier pflwlumg I he insurance shall he chosen by Borrower !>.ubject to Lender'!'. approval which shall nol be unreasonably withheld All msuranl;c policies and renewals shall be acceptahle to Lender and shall IIldude a standard mortgage clause. Lender shull have the nght (0 hold the policie. and renewals. If lender requtrt.~. Borrower !thull promptly give to Lender all receipts of paid premium!. and renewal noUcc:s. In Ihe event of loss, Burrower !!hull gl..'e prompt nOlice to Ihe insurance carner and Lender. I.ender may make proof of loss if not made pnlmplly by Borrower. Unless Lender and Borrower otherwise agree 10 wrillng, in!>.ufllnce proccL'{h ..hall be applied to restoration or repair of the Property damaged. if the restoration or repmr is econom1Cally feasible and Lender'" securily i~ IUlt les!iened. If the restoration or repair IS not economically feasible or lender's !!ecunl~. \..ould he h:ssencd, the insurance proceeds shull be applied to the sums !>.ecured by thiS Security Instrument, whether or nol Ihen due. \\Iith an)' cxce~ paid to Borrower. If Borrower abandons the Propeny. or dues nOI answer within 30 days a nutlce from Lender that Ihe insurance currier has offered to scule a daml, then Lender may collect the insurance proceeds. Lender may use the proceeds 10 repair or restore the Properly or It' pay sums ..ecured hy Ihis St.'Curity Instrument. whether or nol Ihell due. The 3D-day period will begin when the notice I!! gl\Ocn. llnle.s Lender and Borrower otherWise: agree In wntlng. any applil;allon (lfprocl-eds to principal shall not e"'tend or postpone: the du~ date of the: monthly payment!. referred 10 in paragraphs 1 and 2 or change the amount of the paymenls. If under paragraph 1 q the Propert)' ts acquired by Lend~r. Bormwer'!. right 10 any in!ourance policies and proceeds resulting from damage to the: ])roperIY pnor to the acqul!'oltion shull pass to Lender to the: extent oflhe ..urns !!ecured by Ihis Security (nstrument immediately prior to Ihe acqUlsnioll. 6. Preservation and Maintenance of Property; Leaseholds. Borrower shall nOl dC!ltrllY, damage or !iuhstanllully change the Propeny, allow lhe I)rnperty to deteriorate or commit wa~le, If thl'" SeL:UrIlY Instrument I!'. 011 a leasehold, Borrower shall campI) wlch the prOVisions oflhe lease, and if Borrower aC4ulres fee title III Ihe Property. the leasehold and fee title shall nol merge unl~.. lender agrees to the merger in writmg 7. Protection of Lender's Rights in the Property; Morttit3~e Insurance. If Borrowcr falls In perform Ihe covenant~ and agfL'Cmenh C'onlaml-d In 1his Secunty Instrument, or there \.. ~I legal pro..:cedmg thai ma) 'lgOllkanlly affect Lcnder'~ righ1!> in (he Propeny (such as. a proceeding m bankruplCY, prohale, ror I;ondemllalllln or 10 enforce laws (lr regulation!>), then l.:nder ma}. do and pa)' for whale..'er IS neces~ary tn pmtecl1ht' \alut' of the Prnperty and Lender'!'. ngh1" mlhe Propert)', Lender'Ii aCllons may mdude paYing any ..urn!. ..ecured h~ .t hen \\11Ich ha" rn(lrit~ mcr thiS Seeunt) Ins.lrumenl, appeanng 111 I;ourl, pa~.'1ng rea!oonahle attorneys' fee-. and t'nlenng tllllhe Prnpcrt~ \0 make n:paIT'o, Ahhough Lender mll}' lake action under tlll~ para!traph i, lender doo nul hlJ\'C tn J.ll..1l An) aI1lounl'\ dl'\huned b) L.ender under thl" paragraph 7 ..hall h('\.'(lrT\C: addllltlllal dt.'Olllf Ul1rnlwer ..cl.:urt'd h~ thl" Stellnt} In'ltrumenl lTnl~'i Burruwt:f ami I ender .1~rL'(' 10 other lefIT1" (II pa~ 1ll1'1I1. Ihe..c an1l'UIII" !ohlll\ h('llr mleTl....t fnml the dale ur OI,bur"oCment al IhC' ~tllc fait: amI ..11<111 he pa~ah]l'. "11h IIllcn'..1. ur"" llPI!\.'l' rrllm I.clIlkr I" Rllrrll\\er teque-.lmg (l.a)mC'nl