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6, 145414
<br />UNIFIJRM Coy =ENANTS. Horrowes and Lander cowmant and agree as follows:
<br />1. PaymW of prWeipul sad IRWOR; pre*syawat sad Late Charges. Borrower shall promptly pay when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />L Ftaais for Tam stied laatrasee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to L:tateler on the day monthly payments are due under the Note, until the Nate is paid in full, a sum ( "Funds ") equal to
<br />one-twelfth of: (a) yearly taxes and as"Um its which tray attain priority over this Security Instrument; (b) yearly
<br />limselvoid payments or gt+aund rents on the Property, if any; (c) yearly hazard insurance ptonnutar and (d) yeady
<br />mo tOW insurawe premiums, if any. These items are called "escrow items." Lender may estimate the Funk due on,the
<br />basis of current des► and resson" estimates of future escrow iterrlst.
<br />The Funds sMO be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state ageatcy fiaclneling Leader if Lender is relish an institution). Lender shall apply the Funds to pay the escrow item.
<br />Leader may not charge for holding and applying the Funds, analyzing the account or ve rdynng the escrow items, unless
<br />Lender pays Borrower inter on the Funds and applicable law permits Lender to stake such a charge. Borrower end
<br />Lander may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable ,laic
<br />requites 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 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, shalt 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 We of the Property or its acquisition by Lender. any f=unds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Applieatiom 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 />6. Charges; Leas. 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 />Harrower 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 />m eipts evidencing the paym a im
<br />Borrowet shall promptly discharge any lien which has priority over this Security Instrument unless Borrower- (a)
<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 it., 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 subjezt 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 lawraacx 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 be maintained in the amounts and for the periods that Lender requirm. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subtect 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 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. Lender may maize 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, of 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 Borrower. 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 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 notice its given.
<br />Unless Leader 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 I and 2 or change the amount of th- 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. Borrower shall not destroy. damage or substantiall%
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrurritnt is on a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Property, the leasehold and
<br />feu title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Leader's MOO in the Property: Mortgage Insurance. if Borrower fails to perform the
<br />covenants and agreements contained in this Security instrument, or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />regwlatxitts). there 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'' actions may include ponying any sums secured by a lien which has priority over this Security
<br />Instrument. appearing in court. paying reasonable attorneys' fees and entering on the Property to make repairs Although
<br />Lender may take auction under this paragraph 7, Lender doe's not have to do so.
<br />Anly amounts disbursed by Lender under this paragraph 7p shall become additional debt of horrower tcc urco h% this
<br />!Security Instrument. 1,.snles►► L3orrowtr and Lender agree to other terms of payment. these amount. shall bear ►ntrrr#t from
<br />the date of disburwment at the Note rate and #hall be payable, with interest. upon mince froni Lender to Bortourt
<br />requeaitit!rg payment.
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