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UNIFORM COVEIAWS Borrower and Lender covenant and agree as follows;
<br />1. Paytateat of Priacial turd Interest Ptiepynent said Late Charge- Borrower shall promptly pay when due
<br />the principal ref and interest on the debt evidenced by the Note and any prepayment and later charges due under the Note.
<br />1. Fwads for Tam sad Insoraaoe. Subject w applicable Is% 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 Nose is paid in full, a sum ( "Funds") equal to
<br />one - twelfth of: (a) yearly taxes and assessments which any attain priority over this Security Instrument; (b) yearly
<br />kwehold 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 estimate the Funds due on the a:
<br />bears of current data and reasonable estimates of future escrow items
<br />The Funds shall be held in an irtstitution 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). Leader 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 Rends and applicable law permits Lender to make such a charge. Borrower and
<br />Leader 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 puny 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 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 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 on full of all sums sectored 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 as a credit 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 />Now third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Chargm Lieass. 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 shall promptly 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 Lender
<br />receipts evidencing the payments. A
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obhganon secured by the hen in a mummer acceptable to Lender, (b) contests in good
<br />faith the lien by. or defends against enforcement of the lien nn. 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 from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any pan of
<br />the Property is subject to a lien which tray attain pnonty over this Security Instrument, Lender may give Borrower a
<br />nonce identifying the lien. Borrower shall satisfy the hen or take one or more of the actions set forth above within 10 days
<br />of the giving of nonce.
<br />S. Hward Imwraace. Borrower shall keep the improvements now emung or hereafter erected on the Property
<br />insured agumst loci 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 caner providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unressoniably *if Bald.
<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 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 />tamer and Lender. 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 repur is economically feasible and Lender's swunty 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 />Borrower abandons the Property, or does not answer within 30 days a nonce from Lender that the insurance tamer has
<br />offered to settle a cl aim, 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<iay 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 monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments If
<br />under paragraph IQ 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 sum% secured by this Securm
<br />Instrument immediately prior to tht acquisition
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damagc or substantially
<br />change the Propem. allow the Property to deteriorate or commit waste If this SeLurtt\ Instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title ro the Propem, the Icasehold and
<br />fee title #,hail not merge unless Lender agrees to the merger in writing
<br />7. Protection of Leader's Rights is the Property; Mortgage Insurance. If Borrower fails to perform the
<br />oove ants and agreements contained to this Security Instrument. or there is a legal proceeding that may sagnificantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy. probate. for condemnation or to enforce 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 />an the Property Lender's actions, may include paying any sums secured by a lien which has pnonts over the Secant•
<br />Instrument appea ing in court, paying reasonable attorneys' fees and entering on the P,operi% t(, male repairs Although
<br />Lender eta) take action under this paragraph '. I.ender does not hase a(, (Jo sc
<br />L Any am.•unn.Lybur.rd'oo i ender undr, the parAFrap' ,hJ; hr r_
<br />Sexunas lnxtrurtrnt L ntras Htorrr,wcr an Lender agree + +•that +enn.. ! pa. tearer •hair err u. a "ern in+r es+ e•.•n.
<br />tote date n( dmurwinent ai the Note !ate and shall he pace i• ,mitt ,nicresr upor n •it_, +n. 1 <nder •. In ..,•car �t
<br />requesenF payment +31=
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