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88_106285 UNIFORM COVENM'ITS "orrower and Lender cOyenanl and agree us follows: . 1. Paymenl or Prlnelpal and Inlere51; Prepaymenl and Lale Charge5, "orrower shllll promplly pay when due .he principal of and intere", on .he deb I eyidenced by the NOle and any prepaymentllnd laic chllrges due under the NOlc. 2. Funds ror Taxes and Insurance. Subject 10 applicable law or to II written waiver b)' Lender, Borrower shall pay to Lender on the day monthly payments are due undcr the Note. until the Note is paid in full, a sum ("Funds") equllllo one..twcInh of: (n) yearly laxes and assessments which may attain priority over this Security Imurument; (b) yenrly leasehold payments or ground rents on the Property, if any; (c) yellrly hazard insurance premiums; and (d) ycarly mortgage insurance premiums, if any. These items are called "escrow items." lender may estimate the Funds due on the basis OreulTeDI data and reasonable estimates offuture escrow items. The Funds shall be hdd in an institution the deposirs or accounts of which are insured or guaranteed by a federal or S1ale agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account or yerifying the escrow 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 an agreement is made or applicable law requires interest to be paid. Lender shaH not be required to pay Borrower any interest or earnings.on the Funds. Lender shall give to Borrower. without charge, an annual accounting oflhe Funds showing credits and debits to the Funds and the purpose for which each debit 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 held by Lender, logether wilh Ihe future monlhly payments of Funds payable prior 10 the due dates ofthe escrow items, shall exceed the amount required to pay the escrow items when due, the exce.fiS shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on momhly payments of Funds. If the amnunl of the Funds held by Lender is not sufficient to pay the escrow ilems when due, Borrower shall 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 shllll promplly refund to "orrower any Funds held by Lender. Ifunder paragmph 19 the Property is sold or acquired by Lender. Lender shall apply, no later than immediately prior to the sale of lhe Property or its acquisition by Lender, any Funds held hy Leader at Ihe time of applicarion as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all paymenrs received by Lender under paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounlS payable under paragraph 2; fourth. to interest due; and last, to principal due. 4. Charges; Liens. Borrower shall pay all taxes. assessments. charges, fines and impositions attributable to the Propeny which may attain priority. 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 not paid in that manner. Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, "orrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Securiry Instrument unless Borrower: (a) agrees in writing to the payment of the obligarion secured by tht lien in 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 operate to preyeot the enforcemcnt of the lien or forfeilure of any part of the Propcrly; or (c) secures from Ihe holder of the lien an agreement satisfaetory to Leader subordinating the lien to this Security Instrument. If Lender detennines that any part of Jhe Property is subject to a lien which may attain priority over Ihis Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days oflhe giving of notice. 5. Hazard Insurance. _ Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "ex1ended coverage" and any other hazards for which leuder requires insurance. This insurance shall be maimained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shalJ be chosen by Borrower subject ro Lender's approval which shall nol be unreasonably withheld. AU insurance policies and renewals shall be acceptable to Lender and shall include a standard morlga.ge clause. Lender shall have the right to hold the policies and renewals. If Lender requires, "orrower shall promptly give 10 Lcnder all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall gh'c prompt notice to the insurance carrier and Lender. Lender may make proof ofJoss ifnot made promptJy by Borrower. Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or repair or the Property damaged. if the restoration or repair L'i economicalJy feasible and lender's security is not lessened. If the restoration or repair is not economicaJly feasible or lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Insrrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Propeny. or does not answer within 30 days a notice from Lender that the insurance carrier has offered to seule a claim, then Lender may collecl the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Securiry Instrument. wheth("r or not then due. The 30-dny period will begin when the notice is given. UnJess Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall nol extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of1he payments. If under paragraph J9 [he Property is ac']uired by Lender. Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the exrent of the sums secured by this Security Instrument immediately prior to the acquisition. 6. Presenation and 1\laintenance or Property; LeasehoJds. Borrower shall not destroy, damage or substantially change the Propeny. allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of1he lease. and irBorrower acquires fee title to the PropeI1)o', lhe leasehold and fee title shall nOI merge unless Lender agrees to 1he merger in writing. 7. Protection or Lender', Rights in Ihe Properly; MortllllKe Insuranee. If Borrower fails to perfonn the covenants and agrt!emenls contained in this Security Instrument. or there is a legal proceeding thai ma)' significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemna1ion or 10 enforce laws or regulations), then Lender may do and pay for whatcveris necessary [0 protect the \'ulue of1he Propeny and Lender's rights in the: Propeny. Lender's actions may include paying any sums secured by a lien which has priorilY over this Securiry Instrumcnl, appearing in coun, paying reasonable attorneys' fees and entering on rhe Property 10 make repairs. Although Lender may take action under this paragraph 7. lender does not have to do so. . Any amounts disbursed by Lender under this paragraph 7 shall become additional dehr of Borrower secured by I his Security Instrument. Unlos Borrower and lender agree 10 other lenn~ of payment. thL""e' am(lunt'i. ...haJJ bear intere!'t frLlm the date of disbursement al lhe Nole rate and shull be payable. "'ith interest, upon notice from lender 10 Dnrwwer requCSollng payment