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UNIFORM COVENANTS Borrowernnd Lcnderco\'cnnnl and agrcca~ follo\\l!\: . ~$;!- 105814 t. Payment oC Principal and Interestj Prepayment nnd Lnte Chon;cs. Borrower sii'n'n' promptly pay whcn due the principal orand interest on the debt evidenced hy the Note and any prepayment nnd latc churgcs due under the Note. 2. Funds for Tax.es and Insurance. Subjecllo applicable law or to II written waiver by Lender. Borrower shall PIlY 10 Lender on the day monthiy payments ure due under the Note. u"lilthe Note is paid in full. a sum ("Funds") equnllo one.twelfth of: (D) yearly taxes and nssessmenl~ \\'hich mny al1ain priority o\'er this Securily Instrument: (bl yead)' leasehold payments or ground rents on the ProperlY, if any; (e) yearly hazard insurance premiums: and (d) yearly mortgage insurance premiums. if any. These items are called "escrow items." Lender may estimate the Funds due on the basis of current data and reasonable estimates of future escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guarcntecd by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender ma)' not charge for holding and applying the Funds, analyzing the account or verifying the t..'Scrow items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and lender may agree in writing that interest shall be paid on the Funds. Unless un agreement is mude or applicable luw requires interest to be paid, Lender shall not be required to pay Borrower any interest or eumings 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 purpose for which each dcbil to the Funds was made. The Funds are pledged as additional security for the sums secured by this Security Instrument. If the amount of the Funds hp.ld by Lender. together with the future monthly payments of Funds payable prior to the due date.Ii of the escrow items. shall exceed the amount required to pay the escrow items when due, the excess shall be, at Borrower'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 shull 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 Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply. no later than immediately prior to [he sale of the Property or its acquisition by Lender, any Funds held by lender al Ihe lime of application asa credit against the sums secured by Ihis Security Instrument. 3. Application of Payments. Unlt.oss applicable law provides otherwise, all payments received by Lender under paragraphs 1 and 2 shall be applied: first. to late charges due under the Note; second, to prepayment charges due under the Note; third. to amounts payable under paragraph 2; fourth, to interest due; nnd last. to principal due. 4. Charges; Liens. Borrower shall pay all taxes. assessments, charges, fines and impositions attributablc to the Property which may attain priority. over this Security Instrument, and leasehold payrt1: '.ts or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or ifnot paiL', :1 that manner, Borrower shdl pay them on time directly to the person owed payment. Borrower shall promptly furmsh to Lender all nolices of amounts to be paid under this paragraph. If Borrowcr makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly dischurge any lien which has prioril)' over this Security Instrument unless Borrower: (a) agrees in wriling to the payment orlhe obligation secured by Ihe lien in a munner acceptable 10 Lender; (b) contests in good faith the lien by, or defends against enforcemenl of Ihe lien in, legal proceedings which in the lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating Ihe lien to this Security Instrumcnt. If Lender determines that any part of Ihe Property is subject to a tien which may aHain priority over this Security lnstrument, Lender may givc Borrower n notice identifying the lien. Borrower shall satisfy the lien or take one ur more ufthe actions set forth above within 10 days of the giving of notice. S. Hazard Insurnnce. Borrower shall keep Ihe improvements now existing or hereafter erected on the Property insured I1gainslloss by fire, hazards included within the term "cxtended coverage" and any other hazards for which lender requires insurance. This insurance shall be maintained in the amounts IInd for thc periods that lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to lender's approval which shull not be unreasonably withheld. All insurance policies and renewals shall he acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lendcr requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of los!t. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss ifnol mnde promptly by Borrower. Unless Lender and Borrower otherwise agree in writing. Insurance proceeds shall be applied to resloration or repair of the Property damaged, if the restoration or repair is economically feasible and Lendcr's security is not lessened. If the resloration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied 10 the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim. then Lender may colleel the insurance proceeds. Lender may use the proceeds 10 repair or restore the Property or to pay sums secured by this Security Instrument. whether or not thcn due. The 30.day period will begin when the notice is given. Unless lender and Borrower otherwise agree in writing. any application of proceeds to principal shall nol eJl.lend or postpone the due date of the monthly payments referred to in paragraphs I and 1 or change the ampunt oflhc payments. If under paragraph 19 the Property is acquired by Lender. Borrower's right to uny insurance policies and proceeds rcsulting from damage 10 the Property prior to the acquisition shall pass to Lend~r to the ex lent of the sum~ !occurL-d by Ihi!> Securily Inslrument immediately prior to the acquisition. 6. Preservation and Maintenance of Property; Leaseholds, Borrower shall not destroy. damage or subslanlIally change the Property, allow Ihe Properry to deteriorate or commit waste. rr this SCK:urily Inslrumcnl i!-. Oil II leasehold, Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and fee title shall not merge unless Lender agrees to the merger in writing. 7. ProtectiDn Df Lender's Rights in the PrDperty; MortgoRc Insurance. If Borrower fails 10 perform Ihe covenants and agreements contained in this Security instrument. or there is a legal proct!edillg th.1.I1 may slgllilkulltly affecl Lender's rights in the Property (such as a proceeding in bankruptcy. probate. for conuemnUI1tJll or to enforce laws or regulations), then Lender may do and pay for whate\'er is necessaT)' to protectlhc '.ulue ofrhe ProperlY Ilnd Lender'Oj rights in the Property. Lender's Bclions mD)' include paying any sums securcd by a lien which Ims priorilY ovcr I hi!. See-urily Instrument, appearing in court. paying reasonable attorneys' fees and entering on the Property to make repair... Alth(")u~h Lender may lake action under this paragraph 7, Lender does not have todo sn. Any amounts disbursed by Lender under this paragraph 7 shall hce-ome addllional deht of Borrowcr ..t:K:urcd by II1IS Security Instrument. Unless Borrower and Lender agree to other term.. nfpayrnclll. IIK"!.e amount.. ..hall henr intere..' fnlfll the dalr of disbursemrnl at the Nolc rale and shall he pUYllh!c. wllh 1II1cresl. urnn lIolil.'l' fwm Lender In Bt\rhl\.\.-cr requ~lIng payment.