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,. F t UNOMM COVENANTS. Borrower PM Fender covenant and agree as follows; I. PUYISM of t Porpovatimit Rod Low Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. 1101411011s hw 7 , subi *ct to appticalik law or to a written waiver by Leader, Borrower shall pay to LbAte on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to one- twelfth of; (a) Yearly tun and gumments which may attain priority over this Security Instrument; (b) yearly leasethold Payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgagic insurance if any. These item are called "escrow items." lender may estimate the Funds due on the basis of current data and reason" estimates of future escrow items. shall The Pande be hell in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (includitill Lender it Leader is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower a.td Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid, Leader 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 debits 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 this Security Instrument. If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be, at Borrower's option, either promptly repaid to Borrower or credited on monthly payments of Funds. if the amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender 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 by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Affilicitilloo of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs 1 and 2 shad be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paragraph 2; fourth, o interest due; and last, to principal due. `. . Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the 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 to 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 fender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, of defends attlistrut enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien of forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satlefactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is arsbleet to a Bert which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the Bess. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. open notice from Leadef to Borrower r sting payment.