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87._104624
<br />UNIFORM COVENAN rs. Borrower and Lender covenant and agree as follows:
<br />1. Pa of PrWdpatl and Internet; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the" 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-t of: (a) yearly taxes and assessments which may attain priority over this Security Insttupeent; (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 arc 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 />Under 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 obit 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 shall 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 asacredit 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 1 and 2 shall be applied: first, to late charges due under the Note; second. to prepayment charges due under the
<br />',Vote; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. • [Am. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security 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 p_rson owed payment_ Borrower shall promptly furnish to Lender all notices of amounts
<br />to he paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security instrument unless Borrower: (a)
<br />agrees in writing to the payment cif 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 lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the hen or forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating 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 notice.
<br />S. Hazard Insursisce. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against kris by fire, hazards included within the term "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 insurarice policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shalt 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 shall give prompt notice to the insurance
<br />carrier and Lender. Len cr may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Undei s security is not lessened. if the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Burrower abandons the Property, or doses not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to "le a claim, then Lender may collect the insurance proceeds. Lender may 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 3"ay period will begin
<br />when the "ice is given.
<br />Unless Leader and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the dace date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property pricer to the acquisition shall pans to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />E. ; Leascholds. Borrower shall not destroy, damage or substantially
<br />change the Property. allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br />Borrower shaH comply with the provisions of the and if Borrower acquires fee title to the Property, the leasehold and
<br />fie title shall not merge unkss Lender agrees to the merger in writing.
<br />7. PrOWCOM of Letedres R10ft in the ; Mortgage Insurance. If Borrower fails to perform the
<br />covemmits and agreements con in this Security Instrument. or there is a legal proceeding that may significantly affect
<br />L 's is in the Property (such as a procceding in bankruptcy, probate, for condemnation or to enforce laws or
<br />repularaoins). then Lender may do and pay for whatever is necessary to protect the value of the Property and Lcndcr's rights
<br />in the y. Lender's act may include paying any sums secured by a lien which has priority over this Security
<br />I t t, g in court, paying smile attorneys' fees d an entering con the Property to make repairs. Although
<br />L y take action under this . h 7. Lender does nest have to do sea.
<br />Any amounis dWmrw4 by Under under this paragraph 7 shall become additional debt of Borrower ,cc tired by the.
<br />Security I . Un t cower and agree to other terms of ptavmcnl, these amounts shall bear interest from
<br />the of disbursement at the 'Vote rate and %hall be payable. with interest, upon notice from d.e.ndor t,, Borrower
<br />requesting payrat.
<br />It tender mortgoge insurance a om. dittoti of king the loan cured by this Security Instrunicm,
<br />srztmv? shall pay the prcrtriumA s-equired to maintain the m%uriumv in e$fmt until %etch time as the requirciiaent for the
<br />R3 aa3 r. _ as:eotratarceatih Bxrrown'sanal Lr is writfer: :atrph<dble trap.
<br />S. I . L cir a% agent "my make frawmUhir entrrc's 111.4,41 sand snsprstrr-nx,rl the Propene Lender
<br />shalt Iivg II€r raaw"r rnweal the tip 4(n prises to are rratr a.ti++ra s1 •tfying reammable c a asc last the costae. fiat:
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