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UNIFORhtCOVENANTS BorrowerandLendercovenantandagreeasfollo w,. 8s—Vu1V43
<br />L. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall prornpily pa, skier, ,;;;c
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the \„Ie
<br />l 2. Funds for Taxes and Insurance. Subject to applicable law, or to a written waiver by Lender, Borrower ,hall 1,as
<br />to Lender on the day, monthly payments are due under the Note, until the Note is paid In full, a sum ("Funds") equal 1 one- twelfth of: (a) yearly taxes and assessments which may attain priority over this Securit} Instrument. (hr +earl,
<br />j leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and fdl ,earls
<br />mortgage insurance premiums, If any. These items are called "escrow items." Lender may estimate the Funds due ve the
<br />basis ofcurrent data and reasonable estimates of future escrow he ms.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed b% a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow uems
<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 wnting that interest shall be paid on the Funds. Unless an agreement is made or applicable la,
<br />requires 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 bs
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender• together-with the future monthly payments of Funds payable prior ui
<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 m Lender ;in%
<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 Secunty Instrument, Lender shall promptly refund a, 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 the time m
<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 ny Lender under
<br />paragraphs i and 2 shall be applied: first, to late charges due under the .'Foie. second, to prepayment charge's due under the
<br />Note; third, toamounts 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 aitr,buiahlc 1,1 tile.
<br />Property which may attain pnonty over this Security Instrument, and leasehold payments or ground rents. if an%
<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 amuun[,
<br />to be paid under this paragraph. If Borrower makes these payments directly. Horrower 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 Burrower fai
<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 in, legal proceedings which in the Lender's opinion operate In
<br />prevent the enforcement of the hen or forfeiture of any pan of the Propenv; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the hen to this Security instrument. if Lender determines that arts pile[ of
<br />the Property is sub)ect to a lien which may attain pnonty over this Secunty Instrument, Lender may give ha Borrower it
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth abo%e within 11) dos,
<br />of the 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 "extended coverage" and any other hazards for w hich I Crider
<br />requires insurance This insurance shall he maintained in the amounts and for the periods that Lender require, i he
<br />unreasonably withheld
<br />insurance carrier providing the Insurance shall he chosen by Horrower subject to Lender's approval which ,.ill not he
<br />All insurance policies and renewals shall he acceptable to Lender and shall include a standard murti;agc cLlu,c
<br />Lender shall have the right to hold the policies and renewals. if Lender requires, Borrower shall promptly give In 1 Crider
<br />all receipts of paid premiums and renewal notices In the event of loss, Borrower shall give prompt notice to the insuriricc•
<br />carrier and Lender. Lender may make proof of loss dnot made promptly by Borrower
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall he applied to restoration or rcl,.nr
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is nut lessened If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance preceed% %hal! he
<br />applied to the sums secured by this Secunry instrument, whether or not then due, with any excess paid to Borrower If
<br />Borrower abandons the Property, or does not answer within 10 days a notice from Lender that the insurance id I(, earner ha,
<br />offered to settle a claim. then Lender may collect the insurance proceeds. Lender may use the proceeds lo repair , r .e•s;orc
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due Thr +0 -day pen, K1 will hecu,
<br />when the notice is given
<br />Unless Lender and Horrower otherwise agrce in writing, any application ol'pt,cee ds to principal shall n, l c' Vcn,i
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the i,,r,
<br />under paragraph Iv the Property is acquired by Lender. Borrower's right to any insurance �ibcles and pnkerd, ic,uii;:,;
<br />from damage to the Property prior to the acquisition shall pass to Lender In tile• extent of the surns,c: k1ted h% in!, �,•, ;,.•;,
<br />instrument immediately pnor to the acquisition
<br />6. Preservation and Maintenance of Property; I.easeholds, Borrower shall not dc•srrns. Januigc' or ,uh,ienr;., i,,
<br />change the Ptoperty. allow the Property to deteriorate or comma waste If this Security Instrument i, on ., r.i.ci;,•I,!
<br />Borrower shall comply with the provisions of the lease• and if Borrower acquires fee title In the Pmt City, the Icau heist .r,,;
<br />fee title shall not merge unless Lender agrees to the merger in writing
<br />7. Protection of Lender's Rights in the Property; .Mortgage Insurance. It Horrower tails I,
<br />covenants and agreements contained in this Secunty instrument, or there is .i legal pnkcecling lhar ni,n „gnih,,inil, .,'I:•,
<br />Lender's rights in the Property (such as a proceeding tit hankruptcy, probate. for :ondenni,ilwn ,•r in
<br />regulations). [tier, Lender may doand pay forwhatc%cr I%nrce%sary Ioprutrsl the sa!urol tilt Pmperr> and I ender ,
<br />in the Property Lender's action% may include <i m
<br />I riVrUtnenl, a i y g any sums ,r. Wed by I lien ,will, h has i�,
<br />pp'"t) in court, paying rrasonahlratturncy, fee, amt entering „n the pr, i„ ells ,re' 11��, s�, ,,.,.�
<br />Lender may [eke awhun under this lturagraph I Crider d,KS nni hav C Ind„ sit Cri I, t n,a r
<br />Roy arnuunis c11%hur,ed by Lender under this i aragtaph 'shall h.• „vl,c iJ,l n ii ,I,•i„ i Ii, r ,
<br />Se.i nit En;inrnreiu l nlrs f9or.ower and I ender agree I, other !'tin' s
<br />he S�.c „f di%buttc•nier,t .0 the NllhP role .ind ,hall he i
<br />;e,,fu_ rinKhayrncnt 1`•,.ih,la-.
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