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<br />UNIFORMCOVENAVfS, BOrrower and Lender c •nvenanaandagrec•a, 86— 104110
<br />1. Payment of Principal and interest; Prepayment and late Charges. Borrower ,hall promptly pay when due
<br />the principal of and interest on the• debt evidenced by the Note and any prcpa%menr and late charges due under the Note.
<br />2. Funds for Taxes and insurance. Subject to apply able law or ro a written waiver h% Lander, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note. until the. Note is paid in full, a sun , ("Funds ") equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority orer Haiti Securit% Instrument: fht %earl%
<br />leasehold payments or ground rents on the Property, if any; ter yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums. if any. These items are called "escrow items." L.cnder may estimate the Funds due on the
<br />basis of current data and reasonable estimates of fur ure escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which -ire insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Ixntler 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 />Lender may agree in writing that interest shall be paid on the Funds I *nless an agreement is made or applicable law
<br />requires interest to be paid, Lender shall not be required to pay Borro% %cr any interest or earnings on the Funds. Ixnder
<br />shall give to Borrower, without charge. an annual accounting of the Funds showing credits and debits to the Funds';utd the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as addtional security for the sums secured b%
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payahle 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 file 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 I 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 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.
<br />Borrower shall promptly discharge any lien which has priority over this Security instrument unless Borrower: (it)
<br />agrees in writing to the payment of the obligation secured by the lien in a mariner 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 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 abo%c within 10 days
<br />of the giving ofnotice.
<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" arid 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 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 prompt]% give to Lender
<br />all receipts of paid premiums and renewai notices. In the event of loss. Borrower shall gitc prompt notice to the insurance
<br />carrier 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 he 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 he
<br />applied to the suns secured h% this Secunly Instrument, whether or nor then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice frorn Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds 11) 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 prncec•ds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and _ or change the amount of the pa %rnents. If
<br />under paragraph 14 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 h% tills Secunl%
<br />Instrument intmcliately prior to theacquisition
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not %Icstruc. damage or suhsranuail%
<br />change the Property, allow the Property to deteriorate or commit waste. If this SCe11r11% Instrument is on a lc;sehrdd.
<br />Borrower shall ccnnply with the provisions ofthe lease, and If Borrower acquires fce title to the Properry. the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in %%hung.
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance. if Borrmil't Ells to perf„rnr !hr
<br />covenants and agreements contained in this Security Instr nnem. or there is a legal pn +ceedrng th :u inay stgnlG ar.Il} affc'!
<br />Lender's rights in the Property (such as a proceeding in hankrupicy. prohaic, too cnndemnauon ,r t„ cnlin.c Ln%, or
<br />regulations). then Lender may inn and pap tier whatc%cr is necessary TO protect the %aiuc "[-the• Proprrl% and I citdcr's rich[,
<br />in the Property. Lenders action may Include paying an} sums secured h% a hell %%hrh h- tenon % %ci tin. \e:t•I II%
<br />instrument. appearing m court, pacing reasonable attorneys' fee, a ,,I cntcr *it g on the Pn,pu i % ,o n1, t kc I ; I'll u,
<br />I ender may take action under this pa rag rap11 7, Lcncferdoes noI flans n, IL Any am %Uttts disbursed h% Lender under this p rr rl.rrph " h;dl hc% .t tic Additional Licht of Nor ,L k r w, ill cd r % ill,
<br />Secwihl list ru,tentr tnle,sB „n ow aranof Luuleragrectoolhernn1•, I;t%menL' tic IL' :r•I�un!11il ;I..Ir.T!;t,,, ,,•:r.
<br />the date c,f dishurvement :,r the Nor rate• ;wit .11.1:1 he pa%,eble. %%Ith •I Mrr,t ton nil ., I ,rL ;, is . ,%�I
<br />requesting ptWo -111
<br />4.
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