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UNIVORM CO% NA-1 IS Borrow•erand Lender o,%enani .utd agrce its follows: 86� 102390
<br />1. Payment of Principal sad Interest; Prepayment and late Charges. Borrowei flail prrmptic pay w hen ttur
<br />the principal ofand interest on the debt evidenced by the Note and any preray ment and late charge, due under t hr Not e.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a%% riven vvaiccr by Lender, Ilm rnwcr shall pad
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, it sum i"l ends ") equa+ t;)
<br />one- twelfth of (a) yearly taxes and assessments which may attain priority over this Security Instrument: (11) 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 esrtmatc the Funds clue on the
<br />basis ofcurrent data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits oraccounts ol'which are insured or guaranteed by a lederai of
<br />state agency (including Lender if lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may riot 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 it charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds Unless an agreement is made or applicable la%%
<br />requires interest to he paid, Lender shall not be required to pay Borrower any interest nr earnings im the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds shoving credits and debits to the Feuds 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 shall he,
<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 tittle of
<br />application as a credit against the sums safured 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 />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, 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 person owed payment. Borrower shalt promptly furnish to Lender all notices of amounts
<br />to be paid tinder 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: la)
<br />agrees in 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 lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property: or (c) secures frorn 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 action, set firth above within 10 days
<br />of the giving of notice.
<br />5, Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall he maintained in the amounts and for ..tie periods that Lender requires. Lhc
<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 />Lender shall have the right to hold the policies and renewals. If ]ender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewa' notices. In the event of loss, Borrower shall give prompt notice to the insurance
<br />carrier and Leader. Lender 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 Lender'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 Burrower. if
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle it 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 30 -day period will begin
<br />when the notice is given.
<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 nwnthly payments referred to in paragraphs 1 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 prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Burrower shall not destroy. damage ur substantially
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security hnstrunnew is on a leasehold,
<br />Borrower shall comply with the provisions oft lie lease, and if Borrower :rcquf rev fee title to the Property, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance. if Borrower fails to perforni the
<br />covenants and agreements contained in this Security Instrument, or there is it legal proceeding that may significantly aficet
<br />Lender's rights in the Property Isuch as a proceeding in h;mkruptcy, probate, nix condemnation or to eniorcc laws or
<br />regulations), then lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br />in the Property. Lender's actions may Include paying any sums secured by a hen which has pnonty over this Securm
<br />L Instrument, appearing in court. paying reasonable attorneys fee%and entering on the Property to make iep;un. Although
<br />Lender may take action under, this paragraph 7, bender does not has a io do so
<br />Ire
<br />Any amounts dishursed M Lender under this paragraph - shall become additional dcht of BorroN%ci s"oicd h\ this
<br />Security Instrument. Unto%% Borrower and Lender agree to other terms of payment, ihcsc ,umnuus shall hear inicrr,t Imo
<br />the date of disburscrneni at the Note rate and shail he pa�ahle. wuh nurrrst, upon [wl! inml I cndri lo kol..nscr
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<br />r'equesling p:ay'rnent
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