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R5, UUZ55Z
<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
<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 lost written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a Bunt ("Funds"). equal to
<br />onc- twelfth of (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if :Lily; (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 duc on the
<br />basis of currant data and reasonable estimates of future escrow items.
<br />The Funds shall be head in :u% institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such Lin 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 permit% 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 he 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 eretlits 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 suflicient 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 of ail sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. U under paragraph 19 the Property is sold or acquired by Lender, Lendcr shall apply, no later
<br />than immediately prior to the sale of the Property or its acquisition by [ender, any Funds held by Lender at the time of
<br />application as a credit agam%t the sums secured by this Security lastrumeni.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall lie applied: first, to late charges due under the Note; second, to prepayment charges due under tine
<br />Note; third, to amount% payable Winder paragraph 2; fourth, to interest due; and last, to principal due.
<br />4. Chartres; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Properly 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, or if not paid in that manner, Borrower shall
<br />pay them on time directly to tote person owed payment. Borrower shall promptly furnish to lender all notices of amounts
<br />to be paid under this paragraph. 1f 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: (a)
<br />agrees tit writing to the payment of the (,litigation %reared by the hen m is manner acceptable to Lender; (b) contests in good
<br />faith the Tien by. or defend% against enforcement of the !tell In, Icgal proceedings which in Ilse Lender's opinion operate to
<br />prevctlt the enforcenicn1 of floc hen or forfeiture of any part of the Property; or (c) secures front the holder of the lien an
<br />agreement satisfactory Io Lender %ubordinating the lien to this Security In%irt merit. 1,11-ender determines that any part of
<br />the Property is subject to a hen which may attain pnorty liver Hiss Security instrunlenl. Lender may give Borrower a
<br />notice identifying itic hers. Ilorrowcr %hail %atisfy the hen or take one or more of the actsun% %et forth above Wit Inn 10 Jays
<br />of the giving of notice.
<br />4. I lazard insurance. Borrower %hall keep the improvement% now existing or hereafter erected on the Property
<br />insured aga111H loss by fire, hazards Included within the term "extended coverage" and arty (,!her hazards for which Lender
<br />requires Insurance. 'fins Insurance shall be maintained in the aniourts and our :he periods that Lender requires. The
<br />insurance carrier providing (lie insurance %lull be chosen by Borrower subject 10 Lender's approval which shall riot be
<br />unreasonably withheld.
<br />All insurance policies and renewals %hall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the rip ;ht to hold the policies and renewals. if Lender require %, Borrower shall promptly give to Lender
<br />all receipts of paid prenliurns aunt renewal notice%. In the event of loss. Borrower %hali glue prompt notice to the insurance
<br />carrier and lender. Lender may make proofof los% If not male pronipilw by Borrower.
<br />U nless Lender and Borrower otherwise agree Ili writing. insurance proceeds shall he applied to restoration or rcpair
<br />of the Property d:nnoged, if the restoration or repair is economically feasible and Lender's security is not Ies%ened. If the
<br />revocation or repair i% not economically feasible or Lendel's ,ccunzy would be lessened, the insurance prtxecd% shall be
<br />applied to the sums secured by plus Security Instrument, whether or not theta duc, with any excess pwd to Borrower. if
<br />Borrower abandons the Property, or does not answer withal 30 day% a notice from Lender that the insurance carrier has
<br />offered to %etlie a china, fliers Lender may collect the insurance prof ectic- Lender play use Cite proceeds to repair or restore
<br />the i'ro,,wrly or to pay sum% secured by this Security Instrument, %%liethcr or not tsen title. The 30 -day pert,ti will begot
<br />when the not ice I% given.
<br />Unless lender and Borrower otherwiw agrec in writing, :lily application of plocecds to principal shall nol esrend or
<br />postpone life due dale of file nionlhlV payments 1'cferred to 111 ;,.Iwrrtplt% 1 and rlr chases Ill(- ainuunt of the payment %. I f
<br />under patragraph 11) file Property 1%ac(lut'ed by Lender'. Itorr +,%vet's tight it) athy nlsurancc' polsi:e%,Md l%roccCd% rc%nllirlp!
<br />front danmge Co the Property prior it.) Ile acquisl[loll wall pa %s it) Lent.er to the extent e,i I lie %unit securttd by fill'. ScCul fly
<br />Instrument Immediately prior to the acquisition,
<br />6, Preservation and Maintcn:mnce itf Property; L v asehoid %, Borrower .hall not destroy, %i nlage or sub%fan I'll ly
<br />chalige Lase Property, allow the Pioleriy to deteriorate r,r Cnrrinllt wasle. If lht%',000ruy In%tillInrnl is ors a leasehold,
<br />Wrrower % 1hall Cnrnply with tie provs%lons ofHie lease, and It Ilorrowcr acquov% fcc utc to the Property, the !C;0,%! 14041 and
<br />fee tole shall not merge iml,c%s Lciidt-r agree% in Oic merger Ill % %Mull;
<br />7, 11rotectiun of Lender's Itieht% in the Property; ,Uoriv.iste Insurance. It Borr<)%ccr l'.rlis to pcifr,im the
<br />CoVC11e4111% and al',Pl't'nnt'11!%CniltalflW'AI ill Oil%St., Unity instill 111Cnt, or IIIC'i "C N;1 it's•al ITUi (-t'ellli l! t'i.fl Iola% s11.'lllll� :IlltlS .till!
<br />Lettilci'w riV111% in the 1ero1)rrly istu,.'le a%.1 t,n,%CV,lalg In haul r,llr,cy, !,ens +ate. Ior 1
<br />(01" h'In)1.11It'll t11 h, r11101ce la%v% or
<br />fe ulations), then Lendcr nlay Ib) 11ml lm li)r %%!idly %'ea Is nc, C-.If y' le, 14nI%'t'I I'w %.Ilkw "! : by I'I„I,i'i'IN and I elldc l % 1011%
<br />fit the Profterrw. Lvmler'%;Icttow, Illav Illl'lUi(e !,,%N 111V any %11111% sct'llrcd I,F .I lice V1 i111'h has pi101It1 0% Or IIlls SPi 11 r1t%'
<br />Iti %trurnew, al pIr lust; in Cmhfl, jlaY fill- ICs e nahlC IltNllel% ttt%and nitn.,l: Lill lest' I'r e,l,i 1 :1 In e, 1,1AC Ici,.1 1 . r \il he,ll l'll
<br />Lemler may Like .1,'ffnu under' I Iw, a era, ;" hilt ', 1 xiid r dov�. n I hdce T,, i , % Any a111mmi %eh %1,111 %Chi by r miler nnelrr f'ns i +alae',iae 11 r .11.111 i, ,:nw'I'ltilll'a , dcbt ,,2 Hof Ikm ,I w, Ill by tills
<br />'NVA- ti(ItV 111 %lfnflrfnl. tltlii`%% Itm i,,v4vr sold I- v ii-ler d[`IL'C fU n: lice It'I ni%ol 111rtir ,1 n'•.,11111% 511,1; 1 . 4,,. W',$ —I
<br />Ole 1',:11e .4 dI0?li•.rnwtlt tit sin• N,aie talc .Ind %b I ?'c t,a c,e ilia'. %% 1,; mlr:ru, ea,nn -,t lat,m I cndel " 14%11„%%"1
<br />rratii €' ,, p.hYt? mill.
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