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87-- 103184 UNIFORM COV NANn. Borrower and Lender covenant and agree as follows: L. Payment of Principal and Interest; Prepayment aed Late Charges. Borrower shall promptly pay when due tiF principal of and interest on the debt evider-ced by the Note and any prepayment and late charges due under the Note. 2. Fan& €or Taxes and losnrance Suter to a; ,lirab#e law cr to s written wale by Leader. Borrower slsail nay m >: on the day monthly payments are due under the Note, until the Note i` paid m fun, a -.ma r Fund.') enqual to rwe h of (a) yearly taxes and assessme€m w—h-cli may attain priority over phis Secunt_ Instrument: Cj) yearly xsekkAl payment` or ground r_ts on ttu, Pig, if am (c) yearly hazard insuran- premiums., and (d) y earl, insurance premiums, if any. Tmiese items are called "escr,"w :ins_" Lender may esthrtatc dhe Funds due on the bars ofcuffent data and reasonable estimates of future escrow items. The Funds shall be held in an institution th-- d��x or accounts of which are insured or guaranteed by a federal or state agency (rttclociiing Leader if Lender is such an institution). Lander shall apply the Fonds to pay the -scmw items. tender may not chharge for holding and appiymg the Ftnuk, analyzing the account or verfjing the escrow items, unless Iznik% pays Borrower interest on the Funds and apple law permits Lender to make such a charge. Boirawer and Lender ones agree in writing that muasest shall be paid on the Fends. Unless an agreement is node or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Leader shall give to Borrower. without charge, an annual accotnring of the Funds showing credits and tests to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by th imSecurity Instrument. If the amount of the Fords held by Leader together with the future monthly payments of Fords payable prior to the due dates of the escrow items, shall exceed the amount requited to pay the escrow items when due. the excess shall be, at Borrower's optiat, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Leader a not sulkient to pay the escrow items when due. Borrower shall pay to tender any amount necessary= to make up the deficiency in one or more payments as required by Lender. Upon payment in full of all sums secured b: this Security Instrument, Lender shall promptly refund to Borrower any Fonds held by Lander. If under paragraph 19 time Property is sold or acquired by Lender. Lender shall apply, no later than immediately prior to the sak of the Property or its stir by tender. any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Appla4iea of Paywew& unless applicable law provides of m -wisc, all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to late charges due under the Note. second, to prepayment charges due under the ]vote_ third to amounts payable under paragraph 2. fourth, to interest due: and last, to principal due. 4. Cbmum I lists Borrower shall pay all taxes, assessments, charges, fires and unposawas attributable to the Property which try attain priority over this Security Instrument. and leasehold payments or ground rents if rn%- Borrower shall pay these nines is the manner provided is paragraph Z. or if not pad in that manner. Borrower shall pay them on tune dire•:,`.• to the person awed pay meat. Borrower shall pm cal tty furnish to Leader all entrees of amounts to be paid under this paragraph. If Borrower males these payments directly. Borrower shall prompth furnish to Lender receipts evsde —agthe payments. Borrower shall promptly discharge any ban wbtch has priority over this Serunry Istzum,ent unless Borrower: ta) agrees in writing to the payment of the obhLpnm secured by the hen in a manner accept" to l.wder (b) contests in good faith the ben by-. or del ends appzirtst enforcement of the hen m. legal proceedings which in the tender's opinion aperatc to prevent the enforeeemant of the lien or forfeiture of any part of the Property: or (c) secures from the holder of the ben an agreement satisfactory to Lender subordinating the hen to this Secu.,tty Instrument. If Lander detertmaes that any pan of the Property is subpect to a ben which may attain priority over this Security Instrument. !.ender may ppeve Borrower a aoriae ideatiiying the lies Borrower shall saush the lien or take one or mare of the actor se forth those within 10 days oithe wing of entice S. Hazard laaara me. Bnsnewer shall Lop the improvements am existing or hereafter erected on the Property insured adatast loss pis fpm, lizards included within the term -extended coverage" wad any otber hazards for which Lender regealms insurance. This msuratim shall be maintained in the amounts and for the per ks that Lender roquirm The atsrpanee carrier prw•xhog the nasurance shall he chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld All insurance poIacss and renewals shall he momptabic to Lemler and steal. uncluik a standard mortgage clause. Leader shall have the right to hold the pi<*hbz2m sad renewaft, If Lender requrres Borrower shall proeaptly ppve to tender all receipts of paid presumes and renewal rioucm In the event of lows. Borrower shall give prompt notice to the assurance Amer and I ender. Lender not) make proof of lots if not made promptly by Borrower. Unkss Leader and Borrower otierawe agree in wrttm&„ insurance proceeds %W be applied to restoration OF repair of the Property damaged if the restoration or repair is aoopamscatly feasubk and Lender's secomy is not knew& If the restoration or repair is our cmaormwhiy feasible or Lender's security would be lessened. the nesurance proceeds shall be spprtied to the suss secured be rigs Security Instrument. whether or not then due. with any excess paid to Borrower. If Boneaw ab oardaas the Property. or does not answer w%dan 30 days a notice from I that the insurance carrier has offered to settle a clamat thin t eader may collect the to wrance proceeds. Lender may use the proceeds to repair or ttstore the Property or to pray sums secured N this Security Instrument. wbetber or not then date. The 30-day period will begin wiei the uotiee is pp%ew Vales, l mire and Borrower otherwise agror to wrumm& am application of proceeds to principal shall not ea'tend or postpone the due date of the moathh• paFmcars referred tom paragraphs l and -2 or change th_ amount of the payments If under paragraph 19 the Property is acquired by Lam. Borrower's right to any insurance policies and promeds resulting from damage to the Propem prior to the acquisition shall pass to Lender to the extent oft he sums secured by this Security pour went tounedurtely prior to the acquisition b.. Preservation and cx d Pmpenr. Lass. Borrower shall rim dest:m. damage or substantially chaw the Property. sibs the Property to deteriorate or minim" waste. If this Secunty Instrument is on a lasehold. Borrower shall comply w,h the pcunwom of the Luse aotl if flormwer acquires fee title to the Property, the lenchold and fee title shall act merge unless I mgr es to the nserp er m writing. 7. Pratettim of t4aderd1es flights is the Property: `tertgage Itaturasce. if Borrower fads to perform the covenants and agreements contained in this Secuntl instrument, or them is a legal proceeding that may sigsubcaotty affect Leader's nights in the Property (sacs as a proceeding is bankruptcy. probate. for condemnation or to enforce haws or oft). then I esndct may do and pay for whatever is necessary to protect the value of the Property and Lender's rights tia the Property. Lender's actions may include paying any sunmy secured by a hen which has priority over this Secunty Im ruanent, apnQ+eniig in court. paying reasonable ationtrys' fees and entering on the Properr� to nuke repairs. Altbcuigh Lender may take same under rigs paragraph ?. Lend,— dom not have to do so. Any asnoonts disbursed br Leader tinder ibis pa r igrap:, 7 shall become addownal debt of Borrower secured try this Security Instrument. galas Borrower amwi Lender agree to other terms of payment• then amounts shall bur interest from 'be due of disburictaeat at the %ote tale and vhall be ppesat le. with interest, upx?n none from Lender to Sorrasser re4IMMU118 payment