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t 106274
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and late Charges. Borrower shall promptly pay when due the
<br />principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law tar w a written waiver by Lender, Borrower shall pay tun
<br />Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds" 1 equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument, (b) yearly leasehold
<br />payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance
<br />premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the basis of current data and
<br />reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution 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). Lender shall apply the Funds to pay the escrow items. Lender
<br />may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pays
<br />Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in
<br />writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid,
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<br />Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without
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<br />charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the..
<br />Funds was made. The Funds are pledged as additional security for the sums secured by this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior ro the
<br />due dates of the escrow items, shall exceed the amount required ao pay the escrow items when due, the excess shall be, at
<br />Borrower's option, either promptly repaid to Borrower or credited tzn 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 tar 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 any
<br />Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply. no later than
<br />immediately prior t o t he sale of the Properry or its acquisition by I- ender, amy Funds held by Lender at the time of application
<br />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 L and 2 shall be applied: first, to late charges due under the Note, second, w prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2. fourth, ro interest due, drid last, no principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
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<br />Property which may attain priority over this Securtty Insrrunnent, and leasehold payments or ground rents, if am Borrower
<br />shall pay these obligations in the manner provided in paragraph ? or if not paid in that manner. Burrower shall pay them on
<br />time directly to the person owed payment Burrower shall promptly furnish (o lender all nUUles of amounts to be paid under
<br />this paragraph. If Borrower makes these payments directly, Burrower shall promptly furnish to Lender receipts evidencing
<br />the payments.
<br />Borrower shall promptly discharge any lien wh:ch has priority over this Security Instrument unless Burrower :ar
<br />agrees in writing to the payment of the obligation secure -d by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the Lien by, or detends against enforcement of the hen tan, 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 , tar tc i secures from the holder of the lien an
<br />agreement satisfactory it) Lender subordinating the hen to this Security Instrument if Lender determines that any part of the
<br />Property is subject to a lien which may attain priority over this Searrity Instrument, Lender may give Borrower a notice
<br />identifying the lien. Borrower shall satisfy the hen or take one or more of the actions set forth above within I0 days of the
<br />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 extr•nde -d coverage" and any other hazards for which Lender
<br />requires insurance This insurance shall he maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower - ,ubleet to Lender's appnoya] which shall not be
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<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgageclause. lender
<br />shall have the right to hold the policies and renewals. if Lender requires, Burn xer shall prompty give to Lender all receipts
<br />of paid premiums and renewal notices. in the event of loss. Borrower shall give prompt notice to the insurance earner and
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<br />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 no resroranon 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 securty would be lessened, rile 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 ;0 day- a nonce tram lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds Lender may use the proceeds n, repair or restore the
<br />Property or to pay sums secured by this Security Instrument, whether or not then due The ;0 -day period will begin when the
<br />notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal ,hall not extend or
<br />postpone the due date of the monthly payments referred it) in paragraphs I and ' or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by lender, Borrower's right no any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisit-on shall pass m Lender w the extent of the suns --cured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy. damage tar subytantially
<br />change the Property, allow the Property uo deteriorate or commit waste If this Security Instrument is on a leasehold.
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee rite to the Property, the leasehold and
<br />fee title shall not merge unless Lender agrees n) the merger in writing.
<br />7. Protection of lender's Rights in the Property; Mortgage Insurance. It Burrower fails to perform the covenants
<br />Ir and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lenders
<br />rights in the Property (such as a proceeding in bankruptcy, probate, fur condemnation or to entorec laws or regulations i, then
<br />Lender may do and pay for whatever is necessary to protect the value of the Property and Lender < rights in the Property
<br />Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in
<br />court, paying reasonable attorneys' fees and entering tan the Property to make repairs. Although Lender may take action
<br />under this paragraph 7. Lender does not have to do sit
<br />Any amounts disbursed by Lender under this paragraph ' shall become additional debt of Burrower set ued by this
<br />Security Instrument. Unless Borrower and lender agree to other terms of payment, these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lc-ndcr n, Boi rawer reyucsring
<br />payment.
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