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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follow'%: 002096
<br />I. Payment of Principal and Interest; Prepayment and 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 />2. Funds for Taxes and Insurance.. Subject to applicable law or to a written waiver by Lender. Borrower shall t
<br />to Lender on the day monthly pay
<br />one - twelfth of: (a) yearly taxes andeassessm ants hichhma Note,
<br />attain ttpri: rity,over hth tS curitysInstrume t: (h) yearly
<br />)equal to
<br />t leasehold payments or ground rents out the Property, if any; (c) yearly hazard insurance premiurs; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due oil 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 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.
<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 law
<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, all annual acq untine ofthe- Funds shgwin� credits and - debits. rl, Chs -
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security t�,r 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 wi,en 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 ()fall sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. if under paragraph 11) 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 of
<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 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 />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, tines and Impositions attributable to the
<br />Property which may attain 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 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 />receipt% evidencing the payments.
<br />Borrower 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, (h) 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 to
<br />prevent the enforcement of the lien or forfeiture (if any part of the Property; or (c) secures front the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security instrument. If Lender determines that any part tt!
<br />the Property is subject to a lien which may attain priority over this Security Instrument. Lender may gi\e Bo' a
<br />notice identifying the lien. Borrower shall satisf,i. the Nett or take orac or more of ttic actions set firth abo\e \vitllin 10 tl;t„
<br />of the giving of notice-
<br />s. Hazard insurance. Borrower shall keep the improvements now• existing or hereafter erected on the Property
<br />insured against loss by tire, hazards included within the term "extended coverage" and any other haalyds for which Lender
<br />requires insurance. This insurance shall P►c maintained in the amounts and for the periods that Lender requires, I he
<br />insurance carrier providing the insurance shall he chosen by Borrower' subject to Lender's approval which .Mill lot he
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to I_cndt:r and shall include :I standard rrlttrtr,te clause
<br />Lender shall have the right to hold the policies and renewals. if Lender requires, Borrower shall prornptiy give !t, I.cntler
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall gi\e preempt nulllc tt, the incur ;an c
<br />carrier and Lender. Lender may make proofof loss If Ilot made prompt])' by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall he applied 11) resloriltion ou r-cpalr
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security Is riot lessened, if tile restoration or repair is not economically feasible or Lender's security would be lessened, the insurance pro seeds .11,111 l,c•
<br />applied to the sums secured by this Security Instrument, whether or riot then due, with any excess pail~ t„ I ;urruwel. tf
<br />Borrower abandons the Properly, or does trot answer within i0 days a notice: from i.etlder that the insurance earner has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may Ilse the proceeds to repair or restore
<br />the Property or to pay sums secured h) this Security Instrument, whether or riot then title. The ?!1 -cl:t) period will hca!in
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, an% application of proceeds Ill prn►t Ipal shill not e\tend or
<br />Inlstptlrtc the clue elate of' Itic monthly paynitnts referred to in paragraphs I anti 2 or change the anluulll oft,
<br />f the pay nlerlls. it
<br />under paragraph 19 the Property is acquired by Lender. Borrowcr''s right to any insurance policies and prllcccds resultnll
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums sectlrcd by rhos tics urll\
<br />Instrument immediately prior to the acquisition.
<br />b. Preservation and Maintenance of Property; Leaseholds. iit,rrower shall nt,t destrti\, ti;unar r sir snt4sl,lnla,li!\
<br />change the Property, allow the Property Io deteriorate or cunlnut \r;,stc. If Ihls het urlly Instrunlcnt n tila ,a l,;lacht,it!.
<br />Borrower shall comply with the provisions of the Ieasc, and If Harrower a;yuares fee tulle It• the I'rtipert >. the ieasehtilt! anti
<br />fee title: shall not merge unless Lender agrees to the Inerger In wrtttng.
<br />7. Protection of Lender's Rights in the Property. illalrtgagl' (nhUntllC /'. fl Ittilr'tiaer !'alit In 1,4.1 t('1 l r
<br />i;ilyeltanlS:ltlel al,,+l't.'enlellfti l'ttntalllCtl I11 Illy til'l'llrll% I►ISlrllt11et11, c,P r11t'le tti a It'';11 tit+ 9 n he
<br />1,c;rtder's rights in file Property (suc•h ;is a pro .. ! 1 ereoltns; th;tt nt,1y sit:111li,;11111\ ;lurkI
<br />,: eding Ill hankruptiy, ploh,lle. lot colltictnn;alItin oil Its t rllolrr laws ,,r
<br />regulation,;), then L.cndetr may do and p;ly for whalevcr Is ncccssaly r,i ltrtttecl the \alrie ol'the Vloperr\ ;ante I + ntlrl's r ll ills
<br />its the Properly. Lell(lo'1's,.Iehtyn% Ina% irlclutle• lwa Ing any sums sertlreol by .1 hen \ehich has itrlotll\ ti \rr thus st•, Ill lt\
<br />Instrltmcnt. appearing its court, paying rrasunal +ll' atttlrncys' tars ;Ins! rntc, Ing tt
<br />i,end r naay take;lctuln tinder tills paragraph 7. I'Clidel th,cs n1i1 h;l\t' it)tltt sti II lilt' llritl}t'1(\ Is' Ill,lhl' It'lt,lll` \jlllt tt, !1
<br />Any airll lltlll`dlshll t'sctl h% LI'lltle l" ll lltle'f tP111 p;ll;li,!failll .Flail ht'ccilnt':Itftlli lt`n,11 t {ehl tit ilttllot,% 't
<br />`irl'urlly Instrument. ~ ~tics. Horlt,wt•r Mid I vildcl aglel-• tt, u1!acr terms ci( i
<br />the elate t,I dishurs(.il at the liner r;llr .Intl '.hall
<br />rkt lit'st lily, ;l %r et ht p, y.lhlc' \Oilh IlI l t,ca�l,m"'cl, rllil. lIit h+Irl st''Ii ,i�l n l,t.t� i,n!ltl, ', Il,, !Ia! lt! ' lhlt r{t,'u I Irl: tIirt is! l Ilr\<1 .tn'1
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