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<br />UNIFORM COVENANTS Bonower and Lender covenanland egrcc as rollows:
<br />I, PaymeBI of Principal tlId Inlereol; Preptymenl tlId Lale Ch.rgeo, Borrowcr shall promptly pay whcn due
<br />the principal of and interest on the deblevidenced by the NOle and any prepaymenl and lale charges due under the NOle,
<br />2, FUBeIa for Tu.. tlId IIIIIUruC., Subjeclto applicable law or to a wriuen waiver by Lender, Borrower shall pay
<br />to Lender on the day monlhly payments are due under the Note, until the NOle Is paid in full, a sum ("Funds") cquallo
<br />on..lwemh of: (a) yearly taxes and assessments which may attain priority over lhis Securily Instrument; (b) yearly
<br />I_hold paymenls or 8l"'''>:~ ~ r"nts on Ibe Property, ir any: (c) yearly hazard insurance premiums; and (d) yearly
<br />mortpge insurance premiul""~' ~[ ~y. These items are called lIescrow items." Lender may estimatE the Funds due on the
<br />basis ofcu=t data and reuo...ble estimates offulure escrow items,
<br />The Funds shall be held in an instilution the deposits or accounts of which are insured or guaranteed by a rederal or
<br />slate agency (including Lender if Lender is such an instilulion). Lende. shall apply the Funds to pay the escrow ilems.
<br />Lender may nol charge for holding and applying Ihe Funds, malyzing Ihe account or verifying the escrow items, unless
<br />Lender pays Borrower interest on Ihe Funds and applicable law pe","i!, Lender to make such a charge. Borrower and
<br />Lender may agree in writing Ibat interest .haIl be paid on Ihe Ftmds. U"less an agreement is made or applicable law
<br />requires interest 10 be paid, Lender .hall noR be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, withoul charge, an annual accounting oflbe Funds showing credits and debits 10 the Funds and thc
<br />purpose for which each debit to Ihe Funds was made. The Funds are pledged as additional security for Ihe sums secured by
<br />Ibis SecurilY Inslrumenl,
<br />Iflbe amount of Ihe Funda held by Lender, together with the future monthly payments of Funds payable prior to
<br />Ibe due dates ofthe escrow items, shall exceed the amount required 10 pay the escrow items wben due, the excess shall be,
<br />al Bonower's option, either promptly repaid to Borrower or credited to Bonower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay 10 Lender any
<br />amount necessary 10 make up tbe deliciency in one or more payments as required by Lender.
<br />Upon paymenl in full of all sums secured by this Security Instrument, Lender shall promptly refund to Bonower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />Ihan immediately prior to Ibe sale of the Property or ils acquisition by Lender, any Funds held by Lender althe time of
<br />application as a credit againstlbe sums secured by this Security Instrumenl.
<br />3, Application of Paymenls. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: lirst, 10 late charges due under the Note; second, to prepeyment charges due under Ihe
<br />Note; third, to amounts payable under paragraph 2; fourth, 10 interest due; and lasl, to principal due.
<br />4. Chargee; Liene, Borrower shall pay all taxes, assessments, charges, lines and impositions attributable 10 Ihe
<br />Property which may attain priority, over Ihis Securily Instrumenl, and leasehold payments or ground rents, if any.
<br />Borrower shall pay Ibese obligations in Ihe manner provided in paragraph 2, or if not paid in thai manner, Bonower shall
<br />pay Ibem on time directly 10 the person owed payment. Borrower shall promplly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Bonower makes these payments directly, Borrower shall promplly furnish to Lender
<br />receipts evidencing Ibe payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Bonower: (a)
<br />agrees in writing 10 the payment ohhe obligation secured by the lien in a manner acceptable to Lender; (b) contests 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 Ibe enforcement of the lien or forreilare of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating Ihe lien to this Security Instrument. If Lende.. determines that any part of
<br />Ibe Property is subject to a lien which may attain prinrity over Ihis Security Instrumenl, Lender may give Bonower a
<br />notice identifYing the lien. Bonower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />5. Hazud Insaranee, Bonower shall keep the improvements now existing or hereafter erected on Ibe Property
<br />insured against loss by lire, hazards included wilbin the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance sball be maintained in the amounts and for Ihe periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Bonower subject to Lender's approval which shall nOI be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause,
<br />Lender sbaJI have Ihe right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the evenl of loss, Bonower shall give prompt nOlice to the insurance
<br />carrier and Lender. Lender may make proof ofloss if not made promptly by Bonower.
<br />Unless Lender and Borrower olberwise agree in writing, insurance proceeds shall be applied to restoralion or repair
<br />of Ibe Property damaged, if the restoration or repair is economically feasible and Lender's security is nOllessened. If the
<br />restoralion or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied 10 the sums secured by this Security Instrument, whether or nDI Ihen due, wilh any excess paid tD BonDwer. If
<br />Borrower abandons Ibe Property, or does nDt answer wilbin 30 days a notice from Lender thatlhe insutance carrier has
<br />DD'ered ID settle a claim, tben Lender may collect the insurance proceeds. Lender may use the proceeds ID repair Dr reslDre
<br />Ibe Property or to pay sums secured by this Security Instrument, whether Dr nol then due. The 31k1ay period will begin
<br />wben Ihe nDtice is given.
<br />Unless Lender and Borrower Dtherwise agree in writing, any applicaliDn of proceeds to principal shall not exlend or
<br />postpone Ibe due date of the mDnthly payments referred to in paragraphs I and 2 or change the amount Df the payments. If
<br />under paragraph 19lbe Property is ..cquired by Lender, Borrower's rightlD any insurance policies and proceeds resulting
<br />from damage to the Property priDr ID Ibe acquisitiDn shall pass to Lender to Ihe extent oflhe sums secured by this Securily
<br />Instrument immediately prior 10 Ibe acquisition.
<br />6, PreeenatlDn and Maintenance ofProperJ;r, LeasehDlds. Bonower shall noR destroy, damage or substantially
<br />change the Property, allDw the PrDperty ID deteriDrate or commit waste. If Ihis Security Instrument is Dn a leasehDld,
<br />Borrower shaIl comply wilh the provisions oflbelease, and irBorrower acquires feetilleto Ihe PrDpeny. theleasehDld and
<br />fee title sbaJI nDt merge unless Lender agrees to Ibe merger in writing.
<br />7. Prolection of Leader'. Rip.. In the Property; Mortgage IlIIIurance. If Borrower fails ID perform Ihe
<br />covenants and agreements contained in this Security Instrumenl, or there is a legal proceeding Ihat may signilicantly aD'ecl
<br />Lender's rights in Ibe Propeny (such as a proceeding in bankruptcy, probate, for condemnalion or 10 enforce laws or
<br />regulations),lben Lender may do and pay for whatever is necessary 10 proleclthe value Dflhe Propeny and Lender's righls
<br />in the Property. Lender's acticms may include paying any sums secured by e lien which has priority over this Security
<br />IlIIItrumenl, .ppcarlng in court, paying reasonable aUorneys' fees and entering on Ihe PrDperty tD make repairs, Although
<br />Lender may take action under this paragraph 7, Lender does nDI have to do so,
<br />Any amounts disbursed by Lender underthis paragraph 7 shall become addilional debt or BorrDwer secured by this
<br />Security Instrument. Unless Borrower and Lender egree ID other terms Df paymenl, these ","ounlS shall bear interest from
<br />tbe dale of disbunement at the Note rate and shall be payable. with in.eresl, upon no. ice rrom Lender '0 BorrDwer
<br />ftXlUlStina payment.
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<br />88- 107075
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