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88- ~~ .10.8229 UNIFORM CoVENANTS, Borro...erand Lendercovenanland agree as lollows: '. I. I'a)oaest o( PrInelpallllld Interal; Prepaymenllllld Lale Charg... Borrow.r shall promptly pay when due lhe principal ollllld intcresl on lh. debt evidenced by the Note and any prepayment and laic charges due under the Not.. %. Faada (or TUOIlllld laauranee. Subject to applicabl.law or to a wriU.n waiver by Lend.r, Borrower shall pay to Under on th. day monthly paymenls are due under lh. Not.. unlillh. Note is paid in lull, a sum ("Funds") equal to onc-lwelfIh of: (a) yearly taxes IIIId IlS5eSSments which may altain priority over this Security Instrumenl: (b) yearly lcucbold payments or ground rents on lb. Propcny, il any; (c) yearly hazard insurance premiums; and (d) yearly monpae insurance premiums, if any. These items are called .....row items." Lend.r may estimate the Funds due on the basis of curren1 data and reasonabl. estimates orruture escro... items. The Funds shall be held in an instilulion lhe deposits or accounts olwhich are insured or guaranteed by a lederal or state agency Cmcluding Lender if Lender is such an instilution). Lend.r shall apply Ihe Funds 10 pay Ihe ...row items. Lender may not charge lor holding and applying lb. Funds, analyzing the accounl or verilying Ih. escro... items, unless Lender pays Borro...er interest on the Funds and applicable Ia... pcnnits Lender to make such a charge. Borrower and Lender may agree in writinS thai intcresl shall be paid on the Funds. Unless an agreement is mad. or applicabl. law ~ intcreslto be paid. Lender shall not be rcquined to pay Borrow.r any interest or earnings on lh. Funds. Lender sita1I give to Borrower. wilhout charge, an annual accounting olth. Funds showing credits and d.bitsto th. Funds and th. purpose lor ...hich each debit 10 Ih. Funds ...as made. Th. Funds are pledged as additional security lor the sums secuned by this Security Jnslrument. Ifth. amounl oflbe Funds held by Lend.r, tog.lb.r wilb th. lutur. monthly paym.nts 01 Funds payabl. prior 10 th. due dates 01 th. escro... ilems, shallexoecd the amounl requined 10 pay th. escrow il.ms wh.n due, th. ..cess sball be, at Borrower's option. either promptly repaid 10 Borrower or credited to Borrow.r on monthly paym.nts 01 Funds. If Ihe amount of the Funds h.ld by Lender is not sufficient to pay th. escrow items wh.n du.. Borrow.r shall pay to Lend.r any amount necessary to make up Ibe deficiency in on. or more paym.nts as required by Lend.r. Upon payment in full of all sums secured by Ibis Security Instrum.nt, Lend.r shall promptly relund to Borrower any Funds held by Lender. If under paragraph 19 the Propcny is sold or acquined by Lender. Lend.r shall apply, no lat.r lhan immediately prior 10 Ihe sale 01 th. Propcny or its acquisition by Lend.r. any Funds h.ld by Lend.r atth. lime 01 application as a credil againstth. sums secuned by tbis Security Inslrum.nt. 3. Application o( Payments. Unless applicabl. law provides olh,rwise. all paym.nts received by Lend.r und.r paragraphs 1 and 2 shall be applied: firsl. 10 laiC charges due und.r the Nole; second. to prepayment charges due und.r th. Note; third. to amounls payable under paragraph 2; lounh. to interest due; and last. to principal due. .. CIIarIa; Uena. Borrower shall pay alllallcs. assessments. charges. fines and impositions allributabl. to th. Properly ...hich may attain priority, over this Security Inslrum.nt, and leasehold paym.nts or ground rents. il any, Borro...er sha1I pay Ibese obligations in th. mann.r provided in paragraph 2. or il not paid in thai mann.r. Borrower shall pay them on time directly to lb. person owed paymenl. Borrow.r shall promptly lurnish to Lender all notices 01 amounts to be paid under Ibis paragraph, If Borrower makes Ibese payments directly. Borrower shall promptly lurnish to Lender receipts evidencinglbe payments. Borrower shall promptly discharge any lien which bas priority over this Security Instrument unless Borrower: (a) agrees in ...ritingto Ihe payment olthe obligation secuned by lb. lien in a manner acccptabl.to Lend.r; (b) contests in good failb tb.lien by. or defends against enlorcemenl ofth.lien in, legal proceedings which in th. Lender's opinion opcrat.to prevenl the enlorcement ollh. lien or lotfeilure of any pan 01 lb. Propcny; or (c) secures Irom the holder 01 th. lien an agrecmenl salisfaclory 10 Lender subordinating the lien to this SccurilY Instrumenl, II Lend.r d.tcnnines that any pan 01 the Property is subject to a lien ...hich may attain priorilY over this Security Instrumenl. Lend.r may give Borro....r a nolic:e identifYing lhe lien. Borro...er shall satisly lhe lien or take on. or more of Ihe actions set fonh above within 10 days oftbe giving ofnotice. 5. HaanlIDauram:e. Borrower shall keep th. improv.m.nts now existing or h.reaft.r .rected on lb. Propeny insuned against loss by fire, hazards included wilhin Ih.tenn ....lended cov.rag." and any oth.r hazards Icr which Lend.r requires insurance. This insurance shall be maintained in the amounts and lor the periods Ihat Lender requires. The insurance carrier providing Ibe insurance shall be chosen by Borrow.r subject 10 Lend.r's approval which shall not be unreuonably wilbbeld. All insurance policies aad renewals shall be acceptabl. to Lender and shall include a standard mongsg. clallSC- Lender sha1I have lb. right to hold lhe policies and renewals. If Lender requires, Borrow.r shall promptly give to Lender all receipts of paid premiums and renewal nOlices. In the cvenl 01 loss, Borro...er shall give prompt notice to Ihe insurance carrie.- and Lender. Lender may make proalolloss ilnot made promptly by Borrower. Unlesa Lender and Borrower otherwise agree in ...riling. insurance proceeds shall be applied to restoration or repair of the Property damaged, if tbe restoration or repair is economically feasible and Lend.r's sccurilY is notlesscned. If th. restoRtion or repair is not oconomica11y feasible or Lender's securi.y ...ould be lessened, the insurance proceeds shall be applied to Ibe sums secuned by this Security Instrument. whelber or nOllb.n due, with any excess paid 10 Borrower. If Borrower abandons the Property. or does not answer within 30 days a nOlice from Lender that lb. insurance carrier has olI'ered to set1Ie a claim. Iben Lender may collecllhe insurance proceeds. Lender may use th. proceeds 10 repair or reslore the Property or to pay sums sccnned by this SecurilY Inslrumcnt. ...hether or not Ihcn due. Th. 3O-day period ...iII begin ...hen the notice is given. Unless Lender and Borrow.r otherwise agree in writing, any application 01 proceeds to principal shall not..tend or postpoa.lb. due date oflb. monlbly payments rcr.rred 10 in paragraphs I and 2 or chang. th. amount ollh. paymenls, II under parapaph 19 the Propcny is acquined by Lend.r. Borrower's right to any insurance policies and proceeds resulling from damage to the Property prior to the acquisition iha1l pass to Lend.r to th. .xtent ollh. sums secured by this Security Instntment immediately prior 10 tb. acquisilion, 6. ~OD ami Malatenanee o(ProPft1!'; Leaacbolda. Borrow.r shall not destroy, damage or substantially change lb. Property. aIlo... th. Property 10 d.teriorat. or commit wast.. II this Securi.y Instrument is on a I....hold. Borrow:r dta11 comply wilb the provisions ollh.l...., and ilBorro....r acquires leetitl. to th. Propeny, th.lcasehold and Ice title dta11 DOt merge unIesa Lender agrees to th. merger in wriling. 7, ProIectIaa of Leader'a R1llhts In the Property; MOr1gqe llIIUranee. If Borrower lails to perform the covenants ami agreements contained in Ihis Security Inslrumen., or there is a I.gal proceeding Ibai may significantly aft'ect Lender'. rights in the Propcny (such as a proceeding in bankruptcy. probate, lor condemnation or 10 .nlorcc laws or rep1ations). then Lender may do and pay for whatever is necessary to protectth. valu. ollhe Propeny and Lend.r's rights ". in the Propcny. Lender's ac.ions may includ. paying any sums sccuned by a lien which has priority over Ibis Security " IlIIIn1ment. appcarilll in coun. paying reasonabl. attorneys' Ices and .ntering on the Propeny to make repairs. Although Lender may taIu: action under this paragraph 7. Lender docs aot have to do so, Any amounts disbursed by Lender under this paragraph 7 shall become additional debt 01 Borrower secuned by this Sccnrity Instrument. Unless Borrower and Lender agree to other t.rms olpaymcnt, these amounts shall bear interest from the date of disbuncmcnt at lh. Not. rate and shall be payable, with in,eresl, upon notic. Irom Lend.r 10 Borrow.r requestiq payment.