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105941 RE.RECORDED CUI_ 106628 88- UNIFORM CoVEN~. Borrow.r and Lender covenanl aniragr.. as follows: I. ...,....t 0' Principal and I.t.....t; Prepayment ODd Lale Chal11l1. Borrower shall promplly pay when due the principal OfL"1d interest on the debt evidenced by the Note Bnd any prepayment and laic charges due under the Nott. 2. Fuada 'ar Tu.. ODd lasuraMI!. Subjecl to appllcabl.l.w or 10 0 written waiver by Lend.r, Borrower shall pay 10 Lender on the day monthly paymenls an: due under the NOle, until Ihe Note Is paid in full, a .um ("Fund.") equal 10 on..t....lfth of: (a) yearly lues and U5CSSmenls which m.y allain priority over thi. Security Instrum.nt: (b) y.arly leuehoJd payments or ground renlS on the Property, If any, (c) yearly hazard insurance premium., and (d) yearly mortwc insurance premiums, if Iny. 11'ae hems are called "escrow hems." Lender ml',Y estimate the Fund" due on the basis of current data and reasonabl. estim.t.. offutur. escroW item., The Funds shall be held in an inSlitution the deposits or accounts of which are insured or guaranleed by a federal or stat. aaency (including Lend.r If Lender is such .n institution), Lender shall apply th. Funds 10 pay th. escrow it.ms. Lender may not charge for holding and .pplylng the Funds, analyzing Ih. account or verifying the escrow it.ms, unless Lender pays Borrower intucsl on the Funds and applicable la... permits Lend.r to make such. charg., Borrower and Lender may agree In ...riting that Interest shall be paid on tbe Funds, Unless an agreem.nt Is mad. or applicabl. law requires interest to be paid, Lender shan not be required to pay Borrower any interest or earnings 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 w:h debit to the Funds was mad.. The Funds are pledged as additionalseeurity for Ih. sums seeured by this Security Instrument. If the amount of the Funds held by Lender, togeth.r with the future monthly paymenl5 of Funds payable prior to the duc dates of the escrow items, shall exceed the amOUllU'equired 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 ls. not sufficient to pay the escrow items when duc, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Upon paymenl in full of aU sums seeured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lend.r, If under paragraph 19 the Property is sold or acquired by Lender, Lend.rshall apply, no later than immediately prior to the sal. of the Property or its acquisition by L.nder, any Funds h.ld by Lend.r at the time of application u a credit asainst the sums secured by this Security Instrument. 3. Applleatlo. 0' Payme.... Unless applicabl. law provides oth.rwise, aU payments received by Lender under paragraphs 1 and 2 shall be applied: fir>t, to late charges due und.r the Not.; seeond, to prepayment charges due under the Note: third, to amounts payable und.r paragraph 2, fourth, to interest du.; and lasl. to principal du.. 4. Owaea; Ueas. Borrower shall pay aU taxes, IlSSCSSm.nts, charges, fines and impositions attributabl. to the Property wbich may attain priority. over this Security Instrument, ~nd I....hold payments or ground renlS, if any. Borro....r shall pay these obligations in the manner provided in paragraph 2, or If not paid In that manner, Borrow.r shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender aU notices of amounts to be paid under this paragraph. If Borrow.r makes these paym.nts directly, Borrow.r shall promptly furnish to Lend.r receipts .videnciog the payments. Borro....r shall promptly discharg. any lien which has priority ov.r this Security Instrumenl unless Borrower: (a) agrees in ...riting to the payment of the obligation scoured by th.lien in a mann.r acceptable to Lender; (b) contests in good railb the lien by, or d.fends against enforc:ement oftb.lien in,I.ga1 proceedings which in the Lender's opinion operate to prevent the enron:ement of the Ii.n or forfeiture of any part ofth. Property; or (c) seeures from the holder ofth.lien an agreement ..tisfaC1ory to Lender subordinating the lien to this Security Instrument. IfLend.r d.termines that any part or tbe Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satlsry the lien or tak. on. or more of the actions sel forth above within 10 days of the giving of notice, 5. Hazard IDluraDee. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the tenn "extended coveragc" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for thc periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withh.ld. All insurance polici.. and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lend.r requires, Borrower shall promptly giv. to Lender all receipts of paid premiums and renewal notices. In tbe event of loss, Borrower shall give prompt notice to the insurance carrier and Lend.r. Lender may make proof ofloss ifnot made promplly by Borrower, Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of lhe Property damaged, if the restoration or repair is cconomic:a1ly feasibl. and Lender's seeurilY is not lessened. If Ihe restoration or rcpair is not cconomic:a1ly feasibl. or Lender's seeurity would be lessened, the insurance proceeds shall be applied to 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 ofl'e:ralto settle a claim. then Lender may c:ollect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or 10 pay sums seeured by this Security Inslrumtnt, whether or nOI then due. Th. 3Cklay period will begin when the notice Is given. Unlesa Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date ofth. monthly paym.nts r.rerred 10 in paragraphs I and 2 or change the amount of the paym.nts. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insuranc. policies and proceeds resulting from damage 10 the Property prior to the acquisition shall pass 10 Lend.r to th. cxtent of the sums seeured by this Securily Instrument immediately prior to the acquisition, 6.. PrelenatioD and MaintelWlce ofPropel1J; LcPeboldl. Borrower shall not destroy, damage or substantially change !be Property, allow the propeny to dctcriol1ltc or commit waste. If this Security Instrument is on a 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. ProteellOD 0' Lender'. RIghta In the Property; M........ lnaurance, If Borrow.r fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or rqulationa), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may inClude paying any IUms secured by a lien which has priority over this Security Instrument. appearing in court, paying rca50nable attorneys' fees and entering on the Propeny to make repairs. Although Lender may take action under Ihis paragraph 7, Lender does not have to do so, Any ","oUOII disbursed by Lender under this paragraph 7 shan become additional d.bt of Borrower secured by this Security 1l1llrument. Unleu Borrower and Lender agree to other terms of payment. these"amounts shall bear interest from the dale of disbulSeI11ent at the Note rate and shall be payable. with interest. upon notice from Lender to Borrower requestinl payment.