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UNIFf >RM C0VV%- A NTr, Borrower and Lender covenant and agree ac follows. OQ����
<br />1. Payment of Principal and Interest: Prepayment and late Cha ".
<br />the principal of and interest (in the debt evidenced by t he Note and any re l err weg7j-
<br />promf t ly pay when due
<br />1. Ft Taxes and I - Su t to - Prepayment . ment and late charges due under the Nate.
<br />to Lender an the day Mthly applicable law or to a writtc- %cr by Lender, Borrower shall pay
<br />one - twelfth of: a y y Payments are due under the Note, until the Note is ph-e� in full, a sum ( "Funds ") equal to
<br />() yearly taxes and assessments which may attain priority over this Security Instrument. (b) yearly
<br />leasehold Payments or ground rents on the Property, if any; (c) }`early hazard insurance premiums; and (d) ycarty
<br />Mortgage insurance premiums, if any. These items are calms "escrow items." Lender may estimate the Funds date on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall be lead in an mstitutwn the deposits or accounts of which are insured or guaranteed by a federal or
<br />state any (including Lender if Lehr is such an institutioe{t). Lender shall apply the Funds to
<br />Lender rtis:y not c g applying pay the escrow items.
<br />barge for holding and the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender Pays fiver 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 he paid on the Funds. Unless an agreement is made or amicable law
<br />require:. interest to he paid, Lender shall not he required to pay Borrower any 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 rte
<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 the die dates of the escrow items, shall exceed the amount required to pay the a sc items when due, the excess shalt e.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly ��
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower hall is of Funds. r the
<br />arnoutnt necessary to make up the deficiency in one or more pavments as required by Lender. pay to Lender any
<br />UPem 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 is sold or acquired b 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. ApplilcatWn of Payments. Unless applicable law provides otherwise, all
<br />Paragraphs 1 and 2 shall be applied: first, to amounts Payments received by Lender under
<br />due; and last, to Payable under paragraph 2; second, to Interest
<br />• principal due.
<br />' 4, Charges; Liens. Borrower shall pay all taxes, assessments, charges, tines and impositions attrihutable to the
<br />Property which may attain priority over this Security instrument, and leasehold pavments or ground rents, if any.
<br />Borrower shatl pay these obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower shall
<br />t
<br />Pay them on time directly to the
<br />to be Paid under this Peen owed P ayment. Borrower shall promptly furnish to Lender all notices of amounts
<br />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: (a)
<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 hen 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 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 Lender determines that any part of
<br />the Property is suhtrct to a lien which may attain priority over this Security Instrument. Lender may give )grower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth strove within ]0 days
<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 fire, hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall he maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower subject to Lender's approval which shall not he
<br />unreasonably withheld.
<br />All insurance policies and renewals shall he acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the tight to hold the policies and renewals. If Lender requires. �rmwcr shall Promptly Rive to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice' the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or it
<br />of the Property damaged. if the restoration or repair is economically feasible and Lender's security is not les, if the
<br />orator to repair is not economically feasible or Lender's purity would he lessened, the insurance
<br />applied
<br />to the sums secured by this Security instrutrnnt, whither or not then due, with any excess gall be
<br />Borrower abandons the Property, or does not answer within 30 days a notice from > If
<br />offered tot settle a claim, then Lender may collect the insurance eels. Lender may use the the proceeds to repair or restore
<br />.Ura"M carrier has
<br />when the Property or to pay sums secured b y , this Securit y Instrument, whether or not then due. The .10-day period will begin
<br />the notice is given.
<br />Unless tender and Borrower otherwise agree in writing. anv application of Prexieds to
<br />PostPore the die daft of the m<nthly principal shall not ex or
<br />under paragraph Payments referred to in paragraphs 1 and 2 or change the amount of the payments if
<br />19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />from damap to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument trnte }y prior to the acquisition.
<br />hwW t- Pi n NW Ma of : Inds. BMower shall not destroy. damage or substantially
<br />c the Property. allow the Property to deteriorate or co,
<br />mmit waste. If this %ecunty Instrument is cm a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Prot,ertv. the leasehold and
<br />lee titleshall runt merge unless Lender agrees to the merger in writing.
<br />ere Lender's Rights in the Property: !Mort
<br />amts and agreements contained in this Security Instrument. or there1n�� proceeding that Cinavisignific significantly atlfect
<br />s rights In the Property (such as a proceeding in bankru tcy.
<br />regulations). then Lender may do and p probate. for condemnation or to enforce la%A (it
<br />in the Pr Pay for whatever is necessary tot protect the value trf the Property and Lender'% rights
<br />c"Ferty s actions may include paying anv sums secured by a lien which has priority over this Securi /v
<br />Instrument. appgrtng in ccouri, paying reaa+)sable attorneys' fees and entering on the .Pr(
<br />Lender may take acttoxa cinder this paragraph 7. Lender do e% no }t have to d(, ua �perty to make repairs- Aithctugh
<br />Any a his disbursed by I I- w%
<br />under this raragraph "%hall tv— vome additional dept of Borrower Wured by ihi%
<br />Security 1e 9ru eft 1 `mess "Ott"wer and Lender agree to jwjher tram �.t pavtrtrrit. ihcse amounts shall hear isiter�r fr�hi
<br />the date fef di %hurw t at the ` Ite tale dif,j %,fall f"• rsavaf�lr, w�ih �rrirreai.
<br />r' titeg pav"Writ UP-, 1-Tice from l.cn jei t�+ It4,jrr(1 -&er
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