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<br />UNIFORM COVENANTS lJarrower nnd Lender covenant and agree us rollow~: 88.... 106349
<br />\, Paymenl or Prlnelpal and \nlere.t; Prepayritenl and Late Charg... Borrower shnll promplly PIlY when due
<br />the principnl or nnd inleresl on the debt evidenced by Ihe NOle and any prepnymenl and laic charges due under I he Nnle.
<br />2, Funds ror Taxes and Insurance. Subjecllo applicable law or 10 a written wniver by Lender. Borrower shnll pay
<br />10 Lender 00 the dny monlhly payments are due under Ihe NOle, unlilthe NOle is pnid in full, a sum ("Funds") e'luallo
<br />one-twelnb of: (a) yearl~' taxes and asSessments which may allain priority over this Security Instrument; (b) yearly
<br />I....hold payments or ground rents on Ihe Property, if any; (cl yearly haznrd insurnnce premiums; and (d) yearly
<br />mortgage insurance premiums. irnny. These items are called Uescrow items,'" Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />slale agency (mcluding Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not 'charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. A charge assessed
<br />by Lender in connection with Borrower's entering inlo this Security Instrument 10 pay the cost of an independenl tax reporting
<br />servicc shall not be a charge for purposes of the preceding sentence. Borrower and Lender may agree in writing that inlerest
<br />shall be paid on the Funds. Unless an agreement is made or applicable law requires interesl to be paid. Lender shall not
<br />be required to pay Borrower any interest or can1ings on the Funds. Lender shall give to Borrower, without charge, an
<br />annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds
<br />was made. The Funds are pledged as additional security for the sums secured by this Securily instrument.
<br />If the amount of the Funds held by Lender, together wilh Ihe fUlure monthly payments of Funds payable prior to
<br />Ihe due dales of the escrow items, shall exceed the amount required to pay Ihe escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If Ihe
<br />amount of the Funds held by Lender is not sufficienlto pay the escrow ilems when due, Borrower shall pay to Lender any
<br />amount necessary 10 make up the deficiency in one or more payments as required by Lender.
<br />Upon paymenl in full of all sums secured by this Securily Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 191he Property is sold or acquired by Lender, Lender shall apply, no laler
<br />than immedialely prior 10 the sale of Ihe Property or ils acquisition by Lender, any Funds held by Lender allhe time of
<br />application as a credit againsllhe sums secured hy this Security Inslrument.
<br />3. Application of Payments. Unless applicable law provides olherwise, all paymenls received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to prepaymenl charges due under Ihe
<br />NOle; Ihird, to amounts payable under paragraph 2; fourth, to inleresl due; and last, to principal due.
<br />4. Cbargos; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributahle to Ihe
<br />Property which may attain priority over Ihis Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay Ihese: oLligations in the manner provided in paragraph 2, or if nol paid in thaI manner, Borrower shall
<br />pay them on lime directly to the person owed payment. Borrower ~hall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes Ihese payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the paymenl~.
<br />Borrower shall promptly di~charge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment oflhe obligation secured by the lien in a manner acceplableto Lender; (b) contesls in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture ofany part of the Property; or (c) secures from Ihe holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender delermines that any part of
<br />the Property is subject 10 a lien which may attain priority over this Security Instrumenl, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or lake one or more of the actions set forth above within 10 days
<br />oflhe giving of no lice.
<br />5. Hazard Insumee, Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured againslloss by fire, hazards included within the term "extended coverage" and any olher hazards for which Lender
<br />requires insurance. This in~urance shall be mainlained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard morlgage clause.
<br />Lender shall have the right 10 hold Ihe policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event ofloss, Borrower shall give prompl notice 10 the insurance
<br />carrier and Lender. Lender may make proof ofloss ifnot made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in wriling, insurance proceeds shall be applied to resloration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />~loration or ~pair is nol economically feasible or Lender's security would be lessened, the insurance pr(h;:~s shall be
<br />applied 10 the sums secured by this Security Instrument, whether or nol then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />olfered to seltle a claim, then Lender may collecllhe insurance proceeds. Lender may use Ihe proceeds to repair or reslore
<br />the Property or to pay sums secured by this Security Instrumenl, whether or not then due. The 30-day period will begin
<br />when Ihe nOlice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payment~ referred to in paragraphs I and 2 or change the amount of the payment~. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceed~ resulting
<br />from damase to the Property prior 10 the acquisition shall pass to Lender to Ihe extent oflhe sums secured by this SecurilY
<br />Instrument immediately prior to the acquisition,
<br />6. Praenation and Maintenance or Property; Leasebolds. Borrower shall nol destroy, damage or subslantially
<br />chanse Ihe Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br />Borrower shall comply with the provisions oflhe lease, and if Borrower acquires fee litle 10 the Property. the leasehold and
<br />fee litle .hall not merge unless Lender agrees 10 Ihe merger in wriling.
<br />7. Prolectlon or tender'. Risbts in the Property; Mortgage Insurance. If Borrower fails to perform the
<br />covenanls and agreements contained in this Securily Instrument, or Ihere is a legal proceeding that may significantly affect
<br />Lender.s rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or to ~nrorce laws or
<br />regulations). then Lender may do and pay for whatever is necessary to protect the value of the Properly and Lender's rights
<br />in the Properly, Lender's actions may include paying any sums secured by n lien which has priorily over this Security
<br />[..Irumenl, appearing in court, paying reasonable attorneys' fees and entering on the Property 10 make repairs. Although
<br />Lender may lake action under this paragraph 7. Lender does nol have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower SCL'Un.."CJ by this
<br />Security Instrumenl. Unless Borrower and Lender agree to other terms of pay men 1. these amounts shall bear inlc:resr from
<br />the date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender tn Borrower
<br />....equesling payment.
<br />If Lender required mortgage insurance as a condition of maklOg Ihe loan secured by this Securily Instrumenl,
<br />horro.'cr !i.hall pay Ilu: premiums required 10 maintain the insurance in effcct until such lime as Ihe requlrem~nl fllr Ihe
<br />lO'unmce lemllnalo in accordance with Borrower's Bnd Lender's written 8tlrrcmcn1 or applicubl~ lalll.
<br />I. InlpKllon. lender or il5 agent may make reasonabJe entries upon and mspeclH1n"i of the IJruf"k:r'~ I.l'ndc."f
<br />!i.h.llltl\'~ lJorrn".cr nollte: at Ihe lime of or prior to an inipeclion 5pccifying ~a!tOnahlc cau..c for Ihe lII!ipel.'lmn
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