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QQ7" -- 101435
<br />UNIFORM COVENANTS. Bo: rowerandLender covenant and agree asfollows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance, Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow 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 />state agency (including 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_ Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shalt be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower 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 to Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no Later
<br />than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2. fourth, to interest due, and last, to principal due.
<br />4 . Charges; Liens. Borrower shall pay all taxes, assc_smrnts. charges. fines and impositions attributable to the
<br />Property which may attain priority over this Secuntv instrument, and leasehold payments or ground rents, if any_
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower shall
<br />Pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these payments directiv. Borrower shalt promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any hen w hich has pnonty over this S_-c unity Instrument unless Borrower (aj
<br />agrees to wnnng to the payment of the obligation secured by the lien in a manner acceptable to Lender, (b) contests in good
<br />faith the hen hy, or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the hen or forfeiture of any pan of the Property; or (c) secures from the holder of the lien ar.
<br />agreement saitsfactor, to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property is sublo'l to a lien which may attain priority over this Seeurity Instrument, Lender may give Borrower a
<br />notice idcntitsing the lien. Borrower shall satisfy the lien or take One or more of the actions set forth above within 10 day -
<br />of t he giv i ng trf not ice
<br />5. Harsrd insurance. Borrower shall keep the improvements now elusttng or hereafter erected on the Property
<br />insured agww loss by fire. hazai ds included within the term ..extended coverage,. and any other hazards for which Lender
<br />requires insurance This insurance shall tin marrttartted to the aincl n €s and for the periods that Lender requires. The
<br />unreastce tamer providing rile insurance chap be chosen by Borrower subject to Lender's approval which shall not be
<br />turreasatiabh withheld
<br />All msurar..r policies and renewals shall be a:cep;abie to Lender and shall include a standard mortgage clause
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<br />all shall have the right to hold the policies anti rrntwala_ If Lender requires, Borrower shall promptly give ie Lender
<br />alt receipts o {paid premiums and renewal nnttces. In the event of loss, Borrower shall give prompt notice to the insurance
<br />earner anti Lender Lender may make proof of krs,. if Ivor made promptly by Borrower.
<br />Uniets Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or rep:.ir
<br />of the Property damaged. if the restoration or repair is economically feasible and Lender's security is not lessened_ If the
<br />restoration or repair is not econoniicaily feasible : L
<br />c rider's th urty of then be lessened. the insurance proceeds shall be
<br />applied to the sums secured by this �cury Instrument- whether nr not then dtte, with any excess, paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within ;0 days a notice from Lender that the insurance career liar
<br />offered to settle a claim, then Linder mat colicet the insurawe prsxeeds Lender tray use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 dati, period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in w nting, any applicattcut ot- proceeds to p inctpal shall not extend Or
<br />Postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the pay meets. If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance Policies and pnxeeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender ra the eatenl ofihc sums secured by this decant,
<br />instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds Borrower shall not destroy. damage or substantnalh
<br />change the Properly, allow the Property [n deteriorate .,r ��., R ., _ rr .� r
<br />l�ruwer ilia" comply with the provisions of the 1 - a f ��.. ac i £ uri Instrument is .ore a leasehold. lease. and tf B ring, r a quire fee title to the Property, the leasehold and
<br />fee tole shall not merge unless Lender agrees tO the merger in venting.
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance, if Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument. or there 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 it, enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rghty
<br />in the Property Lender's actions may include Paying any sums secured by a lien which has prionty over this Security
<br />Instrument, appearing in court. paying reasonable attorneys' fees and entering on the Properly to make repairs Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so
<br />Any amounts disbursed by Lender under this Paragraph 7 shall become additional debt of Burr %cr sc: ured by tills
<br />Security Instrument unless Borrower and Lender agree to other terns of payment. these amounts shall bear interest from
<br />the date of a menement at the Note rate and shall he payable, with interest, upon notice from 1 ender to Borrower
<br />requesting payment
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