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UNb)RM COVENANTS, Borrower and Lender covenant and agree as follows: `'
<br />" Pay�at of Pri-Cipal and Lnterest; Prepayarent and Late G1ar 87`� 102913
<br />the principal ofand interest cm the debt evidenced by the Note and an re i ntent end late charges promptly Pay he when due
<br />2. Farads far Taxes and Insurances. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly Payments arc due under the Note, until the Note is paid in full, Scum / "Funds ") equal uo
<br />toe- twelllh of (a) yearly taxes and as which may attain priority over this Security instrument; (b) Yearly
<br />payments or ground rents cxt the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />m s ofe rreatdata premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis deurrent data and reasonable otimates of future escrow items.
<br />The Funds shall be held in an institution the derxosits 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 he paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to he paid, Lender shalt not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shat) give to B mower, without charge, an annual accoutring of the Funds showing credits and debits to the Funds and t he
<br />Purpose for which each debit to the Funds was made. The
<br />this Security tnstrumrnt. Funds are pledged as additional security for the sums scarred by
<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
<br />at Burower's option, either promptly repaid to Borrower or credited to Boric el, n terns }1e adue, til e Fund,.,. shall polio
<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 ti, make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of aB sums secured by this Security Instrument. Lender shall prompdv 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 imtrmediately prior t° the We 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 Paymeata. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, u, 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 />d' Carew Lkns. Borrower shall pay all taxes, assessments, charges, finds and impositions attributable to the
<br />Property which may attain priority over this Security Instrument. and leasehold payments or ground rents, if any.
<br />Borniwer shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay them on lime directly to the person owed payment. Borrower shall prompdv furnish to Lender all notices of amounts
<br />to be paid under this paragraph. if Borrower makes these payments directly, Borrower shall promptly furnish to !.ender
<br />receipts ewidenmcing the payments.
<br />Bourower shall promptly discharge any hen which has pnontv over this Securuv Instrument unless Borrower: (a)
<br />agrees a writing to the payment of the 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 hen in, legal proceedings which in the Lender opinion operate to
<br />prevent the enforcement of the lien or forfeiture °f any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender sutiordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of ootice.
<br />5.
<br />insured a Liasord latarrsa¢e, Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />gainst Irons by fire, hazards included within the tens "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained 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 mortgage clause.
<br />Leader shall have the 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 event of loss, Borrower shalt give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss Knot made promptly by Borrower.
<br />Unless [ender and Borrower otherwise agree in writing Insurance proceeds shall be applied to restoration or repair
<br />re for Property damaged. if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />applied to he repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />appleOl 1O the is
<br />by this Security Instrument, whether or not 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 />coffered to settle a charm, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property
<br />notice or en ce is given. pay sums secured by this security Instrument,
<br />when th whether or not then due. The 30 -day period will begin
<br />s
<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 payments referred to to paragraphs I and 2 or change the amount of the payments. if
<br />from under paragraph 19 the Property is a€quircd by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />damage to the Property Prior w the acquisition shall pass to Lender w the extent of the sums secured by this Security
<br />Instrument immediately prior tot he acquisition.
<br />4 P�errati®a aM !frf teaaWe of Property; ( Borrower shall not destroy darnage or sub,, annatly
<br />change the Properly. allow the Property to deteriorate or commit waste. if olio Security instrument is nn a lcI ntiald,
<br />Borrower shall compiv with tie provisions of the lease and if Burower acquires fee title to the Property, the leasehold and
<br />fee title shall am merge unless Lender agrees to the merger in writing.
<br />covens Itr t� of Leaders Riobt, is the �rtY: NIonWW lasursnce. If Borrower fail to
<br />agreements pert (such in this Security instrument, or there is a legal pr,N•eeding that may significantly affect
<br />Leader's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />in regu�la torts), their Lender may do and Lay for whatever is necessary tcv protect the value of the Property and l.encler's rights
<br />operty. Lender's actions may include Laying any sums secured by a lien which has priority ,over this Security
<br />Instrument. appearing in sown, paying reasonable attorress' fees Sell entering on the ForesLierty to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not hate to do so
<br />Any amcrtmtnh dim by Lender under this paragraph 7 shall become additional debt of Horrower secured h_v this
<br />±seurtty Instrument Unisons Borrower and Lender agree to other terms of payment, these atnounts shall hear sntrrrst front
<br />the date of ddotbunrment at the Note rate and shall he payable.. with interact. upi,to notice fron, Limier r,- fiotIoucr
<br />1`04IMMIng Payment.
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