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<br />UNIFORMCOVLNANi'S. Borrower and Lender covenant and agree its follows : 001297
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower .hall promptly pav when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charge, due under I he Note.
<br />2° Funds for Taxes and Insurance. Subject to applicable law or to a l\ rirten waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, ")
<br />until the Note is paid in fill]. a suns (•'Fund+ equal to
<br />one - twelfth of: (a) yearly taxes and assessments which mac attain priority over this Security Instrument: (h)
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance: premiums; and (d)')early
<br />')early
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts cif which are insured or guaranteed by it federal or
<br />state agency (including Lender if Lender is such an institution). Lender 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. Unless an agreement is made or applicable lavv
<br />requires interest to be paid, Lender shal: not he required to pay Bill rower ail. interst :u carmngs 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 monthh payments of funds payable prior to
<br />the due dates of the escrow items, shall exceed the amount required ill
<br />pay the escrow hems 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 ill Lender anc
<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 191lie Property is sold or acquired by Lender, Lender shall apply, no litter
<br />than immediately prior to the sale of the Property its
<br />or acquisition by Lender, any Funds held by Lender at Ehe 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, alp 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, toamounts payable tinder paragraph 2; fourth, to interest due; and last. to principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and irnposltions attributable to the
<br />Property which may attain
<br />priority over this Security Instrument, and leasehold payments or ground rents. if anv.
<br />Borrower shall pay these obligations in the manner provided in paragraph or if not in that Borrower
<br />_, paid manner. shall
<br />Pay them on time directly to the person (lived payment. Borrower shall promptly furnish to Lender alp notices of
<br />amounts
<br />to be paid under [his 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 lit it manner acceptable to Lender; (b) contests ill good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which fit the Lender's opinion operate f(l
<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
<br />Lender deternunes 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 Sci forth ahove within 10 days
<br />of the giving of notice.
<br />S. Lazard Insurance. Borrower shall keep the unprovement% now existing or hereafter erected of rile Property
<br />insured against loss by fire, hazards Included wilhul the term "extended coverage" and any other hazards for which I cruder
<br />requires insurance. This insurance shall he Maintained ill the amounts and for the periods that Lender requires 1, lie
<br />insurance carrier providing the insurance shall he chosen by Borrower suhfect to Lender', approlal which ,hall not he
<br />unreasonably withheld.
<br />All insurance policies and renewals Shall hC :acceptable to Lender and shall include a %landard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Ilorrowcr ,hall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Burrower shall give prompt nonce to the insurance
<br />carrier and Lender. lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower othenetse agree nl writing, Insurance proceeds %11311 hr applied to restoration or repair
<br />of the Property damaged, if the restoration
<br />or repair is economically feasible and 1XIIHICr's SCCUrim IS not lesselled. 11 the
<br />ret*sioraiion or repair Is not economically feasible or Lender's security would he lessened, the Insurance shall he
<br />proceeds
<br />applied Ill the sums secured by this Security lostrumew. whether or not then due, with any excess pall to lLtirrPwt'P' It
<br />Borrower abandons the Property,
<br />or does not answer withal 1O (LIv,, it nollCc° tr „rll I ender that the Insurance carrici has
<br />offered to sctlle a claim, then Lender tnay the
<br />collect Insurance proceed%. Lender play 11 Se the proceeds to rep.ni or restory
<br />the Property or to pay sums secured by tills Securg) instrument, whether or nut then dIIC l he !(1 -day pcn,nl tv,ll hct:m
<br />when the rl(1tICC iS Ltlx'Cll.
<br />L n1c%% lender and Burrower otherwise agrec in writing, any ;appilc.1florl tit proceed, It, pillicipal \hall no[ c\tcnd lot
<br />pompolifle file due date of the
<br />inowhly payment% referred tom paragraphs I and _ or , ll ;lllgc the ,111t,H11r o) the pal Invuls It
<br />udder paragraph 19 the Property Is acquired by Lender. Borrower's right to any mslo.lucc
<br />pohrlcs and proceed% resulting
<br />frorn damage to the Property prior to the acquisition shall pass to I -ender f+ life extent of the sum, secured by this \eclo'lly
<br />Instrument immediately prior in the acquisition.
<br />6. Preaervat ion and Maintenance if Property; Leaseholds. Horr „wet ,1;,111 ,•.,r cfr,uo\, ,t,unatr.,r \Ilh,r,nulaih
<br />change the Properfy. allow the Prt,pc°r1y to deteriorate
<br />.,r colorful wd,lr It Ihls Nc.ufln Ilr,ll11111Clll 1,
<br />lia,rrower shall ompdy with the provlSUlm of file least', and Ii 11orPOwe'I ;It qulfc, Ire fide' to file l+r „p ells till` It`;9\chtiltt .Ind
<br />for Utle shall not merge unicss I culler agrees to I he merger
<br />Ill w i it up.
<br />1. Protection of Lender's flights in the Property; Mortgage Insurance. 11 iiorrowCl t.11l, fo pert"1111 the
<br />to +4 of haRYE, silYtl agrt:enlClll, c Iol'uncd ill Ihf, sccurill lihtrllltwnt, .ir 0wic t'.:1 ;: ball E,to ::clhtlg 111:11 111;1\ +IL!nlh. `111111 :Ifdt•, I
<br />L.ender'6 rights, fn the Propefly (such ,14 if proceedIng it, haukrup icy, I'll
<br />probitic. dofldeollIM loll .,I to cutoft't' idw, of
<br />regnlatkmSl, then Lender inlay till and pa}' tnr tthate%Vt 1, tll'c'C,\:Irl In pfolt'ct the l ;llllt• JI fill. Pl„14Y14 Mill I t'IOCI , I Iglu,
<br />In the PPt rl,Cfl ti. LePldcY', ;fi ltofl, foal' Include p:l'+1119 ,III\ \Ilflls ,t`tllrcil hl ,i lit-it wlllih ha, Iillotlf\ 11%VI fill, '10,11111%
<br />11ISffunlent, .ap( 'aflfl' III ei11Eri,
<br />paling rei",i able jig lot ttt., ;llld MICI III I II till. P -i-11l I imikv Icpioi, \11houfih
<br />1_emlfer loam fakr action Iludef Ihls parn91,11oh '7, Lender does nl I hap fo do
<br />r ,,,
<br />Allen d,mmini%ofshntsf'd I,v I.eftticr tiollel till, plf ;lltrapPl °,1IAl hell I11P',Itldlll„na1'Ict'l of l{orl., \lt`l „•, ,llt'd ill Ihl,
<br />Se,: lrlf,, losifnmivilt 1 7ff)c ,o B1lrrowCr and I
<br />endcf ap.iec to nthrr trop, ..I p ,o nlrnl f hr,c Ilnntlnl . ,Ball h.`,If n1I Cre',I I.,
<br />lope date (If dlshurvennnl ;u the N'otr Iuht and ,Pr,lll ht• t,alaf +lc. i.uh mlcl..r, .t•on noel,_,• Ir•�n I 0,,.!,
<br />nitirl I„ „l, -11
<br />t "pit lilt,£ fl;almrnl
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