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88..,...107093 UNIFORM COVENANTS Bc;rrower end Lender covenant end agree as follows: I. P')'1IIenl 01 Principal aad Interest; Prepayment end Lete Charseo. Borrower shall promptly pay when due Ihe principal of and interest. 00 thc dcbl evidenced by the NOle and any prepeymcnt aod late chorges due under the Note, 2, Funds for Ta.ea I!Ild In.uranee. Subject to applicable law or 10 a wrillcn waiver by Lender, Borrowershall pay to Lender on Ibe day moothly pay<,..ents are <tile uR.der tbe Note, untillbc Note is paid in full, a sum ("Funds") equal to onc-twelnb of: (a) yearly;..;= .~d assessments wbicb may allain priorilY over tbis Secority InSIrUmenl; (b) yearly leasehold payments or gr<'''f.;; 'COIlS on Ihe Propeny, if any; (c) yc:nrly hazard insurance premiums; and (d) ycarly mortgege insurance premiums, if any. These items arc called "escrow items." Lender m.y estim.te the Funds due on tbe basis of current data .nd ......n.ble estimeles offuture escrow items. The Funds shall be held in an institulion Ihe deposits or accounts of which arc insured or gu.rantecd by . feder.l or sUlle agency (including Lender if Lender is such an institulion), Lender shall apply the Funds to pay the escrow items, Lender may nol ch.rgc for holding and applying the Funds, ~naly.mg the account or verifying the escrow items, unless Lender pays Borrower inlerest 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 0" the Funds. Unless an agreement is made or applicable law requires interest to be paid, Lender shall 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 dcbitsto the Funds and the purpose for which each debit to tbe Funds was made. The Funds arc pledged as .ddition.1 security for the sums secured by this Security Instrument. If the amount of the Funds held by Lender. logether with the futurc monthly payments of Funds payable prior 10 the due dates of the escrow items, shall exceed the amount required to p.y the escrow items when due, the excess sh.1I 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 is not sullicientto pay the escrow ilems when due, Borrower shall pay to Lender any amount n......ry to make up the deficiency in one or more payments as required by Lender. Upon paymenl in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 19the Propeny is sold or .cquired by Lender, Lender shall apply, no I.ter than immedi.tely prior to the sale of the Propeny or its .cquisition by Lender, .ny Funds held by Lender .tthe time of .pplication as . credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all paymenls received by Lender under paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to prepaymenl cbarges due under the NOle; third, to amounts payable under paragraph 2; founh, to interesl due; and last, to principal due. 4. Chartlea; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to Ihe Property 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 10 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, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrumenl unless Borrower: (a) agrees in writing to tbe payment of the obligation secured by the lien in a manner acceptable to Lender; (h) 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 prevent the enforcement of the lien or forfeiture of any pan of tbe PropenYl or (c) secures from Ibe holder of Ihe lien an agreement setisfactory 10 Lender subordinating the lien 10 tbis Security Instrument. If Lender delermines that any pan of the Property is subject to a lien which may attain priority over this Securily Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall setisfy the lien or take one or more of tbe actions set fonh above within 10 d.ys of the giving of notice. 5. Hazard Ineurance. Borrower shall kc:cp the improvements now existing or hereafter erected on Ihe Propeny insured against loss by fire, hazards included wilbm the term "extended coverage" and any othcr hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods th.1 Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject 10 Lender's approval which shall not be UIU'e8SOnably withheld. All insurance policies and renewals sball be acceptable 10 Lender and shall include a standard mongage clause. Lender sbaJJ have tbe right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices, In the event of loss, Borrower shall give prompt nOlice to Ihe insurance carrier and Lender. Lender may make proof ofloss if not made promptly by Borrower. Unless Lender and Borrower otberwise agrco in writing, insurance proceeds sb.1I be applied to restoralion or repair of the Property damaged, if the resloration or repair is economically feasible and Leoder's security is not lessened. If tbe resloration or repair is not economically feasible or Lender's security would be lessened, tbe insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any ""cess paid 10 Borrower. If Borrower abandons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has otreRd 10 settle a claim, then Lender may collect the insurance proceeds. Lender m.y use the proceeds to rcpair or restore tbe Property or to pay sums secured by this Security Instrumenl, whelher or not then due. The 3O-day period will begin when the notice is given. Unless Lender and Borrower olherwise agree in writing, any application of proceeds 10 principal sball not extend or postpone the due date of the montbly payments referred to in paragraphs] and 2 or cbange the amount ofthe payments, If under paragrapb 19 the Property is acquired by Lender, Borrower's righl to any insurance policies and proceeds resulting from damage to tbe Propcny prior to the acquisition shall pass to Lendcr 10 the extenl of the sums secured by this Security Inslrument immediately prior to tbe acquisition. Ii. Praen-atiOD and MainteDlDce of Properfw; Leasebolds. Borrower sh.lI not deslroy, damage or substantially change the Property, allow the Propeny to deteriorate or commit waste. If this Security fnstrument is on a leasehold, Borrower shall comply with the provisions ofthe lease, and if Borrower acquires fee title to Ihe Propeny, the leasehold and fco title shall not merge unless Lender agrees to the merser in writing. 7. ProteetIOD of Lender'a R1pts in the Property; Mortpge Insurance. If Borrower fails to perform the covenants and agreements contained in tbis Security Instrument, or Ihere is a legal proceeding thaI may significanlly .Wect Lender's ripts in the Property (such as . proceeding in bankruplcy, probale, for condemn.tion or 10 enforce laws or rqulations), then Lender may do and pay for whatever is n......ry to prolecllhe value oflhe Propeny and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security 100trument, appearing in coun. paying reasonable allorncys' fees and entering on Ihe Propeny 10 meke repairs, Although Lender may take action under tbis paragraph 7, Lender does not have to do so. Any emounts disbursed by Lender under this paragraph 7 shall become addilional debl of Borrower secured by Ihis Security Instrunlcnt. Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable. "";th interest. upon notice from Lender to Borro\\'er requcsl1ng paymenl, l I' , r i . . _ c.