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UNIFORM COVENANTS. Borrower and Lender covenant and agree as fidlows: 85-001757
<br />1. Payment of Principal and Interest; Prepayment and late Charges. Borrower shall prornpth pay when clue
<br />the principal ofand 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 or to it written waiver by Lender, Borrower shall pity
<br />to Lender on file day monthly payments are due under the Note, until the Note is paid in full, a sum ("funds•') equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument: (b) yearly
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<br />leasehold payments or ground rents o 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 clue 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 account, of which are insured or guaranteed by it federal cr
<br />state agency (including Lendcr if Lender is such an institution), bender 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 Borrower any interest OF 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 clue. Borrowerhall 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 ls sold or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Property or its acquisrtnm by Lender. itny L ands held by Lendcr 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 pro,sdc, othcrwase. all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to late charges due unit.! I he Note: second, to prepayment charges due under the
<br />Note; third, toamounts payable under paragraph 2; fourth, w micrest 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. "r it not Paid rn That manner. Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall pn+nipth furnish to Lender all notice, of amounts
<br />to be paid under this paragraph. If Borrower makes These payments doct-0%, liurroAer shall prompth furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has prionty oter thus SccuiII% iINIuntent unless Borrower. la)
<br />agrees in writing to the payment of the obligation secured by the hen m a inanner acceptable to Lender. (h) contests ul good
<br />faith the lien by, or defends against enforcement of the lien in. legal proceedings u hich in the Lenders opinion operate to
<br />prevent the enforcement of the lien or forfeiture otany part of rite Property..,r I secure from the holder of the hen an
<br />agreement satisfactory in Lender subordinating the lien to this Security Instrument 111 ender determines That any pan of
<br />the Property is subject to a lien which may attain prionty over this Secllrlly Instrurnenl. 1 ender may cite Borrower it
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set l ,rill ahote within 10 (W%
<br />of the giving of notice.
<br />S. Hazard insurance. Borrower shall keep the improve•tnenls now exisrlrg or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for is hich Lendcr
<br />requires insurance. 'Phis insurance shall he mainiamcd tit the amounts and for the periods that Lendcr requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower Subject to I endcr's approval which shall not he
<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 gi%e to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Bornnccr shall gite prompt notice to the insurance
<br />carrier and Lendcr. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree ul writing, tnsuranc"e pnceedS shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or m-pair 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 he lessened, th u
<br />e insrance proceeds shall be
<br />applied to lire sums secured by this Security instrument, whether or not then due• with any excess paid to Borrower. It
<br />Borrower abandons the Property, or does not answer within i0 days if notice from Lendcr that the iusutaliCC camel has
<br />offered to settle a claim, then Lender may collect the im.urance procceds. Iender play use the proceeds to repair or restore
<br />the Property or to pay sunns secured by this Security Instrument, whether or not then due. The 10•day period will hegul
<br />when the notice iS given.
<br />Uniess Lender and Borrower otherwise agree in writing, any application of proceeds It) principal Shall not extend tit'
<br />postpone the due date of the monthly payments referred to ul paragraphs i and 2 or change the amount ofthe payments. it
<br />under paragraph 19 the Property its acquired by Lender. Borrower's right to any insurance policies ;Ind proccedS rcSUlttng
<br />from damage to the Property prior to the acquisition shall pass to Lender it, the extent off lie sums Secured by this Secur11 y
<br />instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not dcsuoy, danijige .,r' suhsunnlallt
<br />change the Properly, allow the Property to deteriorate or conlnnt waste• If tills Security instrunlenl 11 on .n leasehold.
<br />Borrower shall comply with life provisions of the lease, and If Borrower acquires fee title To the Property. the leasehold and
<br />fee litic shall not merge unless Lender agrees to the merger to writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance, 11' Borrower I;uls To peliinnn the
<br />covenants and agreements contained in tilts Security Instrwnent, or there 1, a legal piocecdnlp 111.11 nuq slglllhcantly atle' l
<br />Lender's rights in the Property (such aS a proceeding in hankruplcy, probate. 1,,r conolemn.mon or to cnliucc laws or
<br />regulations), then Lender may du and pay for whatcven its necessary lit protect lire,aWc of the Property and I endcl's i ll;hls
<br />in file Property. Lender's actions may include paying any anti secured by a hen which has 1,11"111! „ter this SCtltrill
<br />insUunelit, appearing nI court, paying reasonable ntturneys' Pecs and enlermg vn file 1'rnperlt io "lake reparls klilloul,il
<br />Lender may take action under This p tragraph 7. Lendcr flocs not ha%v to do so
<br />any anunintsehshulsed 115 I tlltict ulidef tills pllagrapll'shell become adduunrll dc•hl it Hon ow el rtl ON ill,
<br />SeCUrrr4 111%,rolneut. I!lde,s B111It)wer and I cudel agiev Iouther lenn,ol paymcnl. thou.Inl,vulls shah I -•,.0 •utle•,t ,11,111
<br />the dale of dlshul't'n1c111 ❑1 Ilic Mille rat" .lull ,11,111 IR• pay;ll lc• with IIIIL'IC,I, u1�i ,11 1l.•I h. ,' Ilion 1 , 10"I In It. X11 —'.;1
<br />requesting paymctel.
<br />to q
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