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003923
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal mW ]aterest; 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 pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") equal to
<br />ane- twelfth of.- (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold paym- -nts or ground rents on 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 due 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 accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Leander 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 />shalt 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 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 )'ull of all sums secured by this Security instrument• Lender shall promptly refund to Borrower
<br />any Funds held by Ixnder. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apph, no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by tender 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 Iasi, to principal due.
<br />4. (barges; 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 />Born iw'er shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower %hall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to he paid under this paragraph. If Borrower make% these payment% directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has pnorny over this Security In %rrumert unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien ill a manner acceptah!e so Lender, 16) conte%ts in good
<br />faith the lien by, or defends against enforcement of the lien to, legal pro tx-edings which in the !_.ender'% opinion operate to
<br />prevent the enforcement of the lien or forfeuure of any parr of the Property: or (c) scum% from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien so this Security instrument. If ]_ender deterrillne% that any part of
<br />the Property is subtrct to a hen which may attain priority o%er this Security Instrument. ixndcr play Eric Borrower a
<br />notice identifytng the hen Borrower- %hall ,ati%fy the hen or take one or mare of the a:llrn%'et forth abuse within 10 da%%
<br />of the giving ofnotice
<br />S. Hazard Insurance. Borrower shall keep the lmpro%emer.t% nUw ev,tmg or hereatter erected on the ProlvOi,
<br />Insured agaulst loss h% fire. hazard% included within the terra "extended :oicrJ9c• and ;fin, other hazard, for which Lcndrr
<br />requires insurance This tnsurancc %hall Ile maintained in the amount% .rod t u the pcn+,ds that I ender rc•quirr% I l l c
<br />insurance carrier providing the insurance shall be chosen by lh rrower subject to I_encler's approval which %hall riot he
<br />unreasonably withheld
<br />All insurance p;ilicte% and renewals shall he acceptahir to ; ender and ,hall mciudc a standard mortgage clause
<br />Lender shall have the right to hold the pohctcs and renewals. If I ender requires. Ihniower shall prompt;% gi %c to Lcnder
<br />all receipts of paid premiums and renewal notlteSr In the event 4 Iris. Borrower %halt gr%e prornpr nonce in the insurance
<br />carrier and Lender. Lender may make proof of Ices if not made pronnpth by Borrower.
<br />L'nle%n Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to re%toratum or icp ;.fir
<br />of the Property damaged. if the restoration nr repair is economically frastble and Under'% %court!) is not Ica,,cju d If the
<br />restoration or repair is not cconomically feasible or Lender'% %county would be ILNsened, the ulsurance prtcecds %hall he
<br />apptital to the sums secured by this Secunty Instrument, whether or not then due, with any excess paid io florrcmer If
<br />Borrower abandons the Property, or does not an%wer within 30 days a notice from Lender that the i %urance :wrier has
<br />offered to settle a claim, then Lefties- may collect the insurance pro cerds. ;.ender may use the proceeds !u repair or rc•%iore
<br />the Property or to pay sums secured by this Security Instrument, whether or not tiscn due. the 30 -ds% prnoxf will hrgin
<br />when the rxtice is givers.
<br />lInlc%s Lender and fkierower otherwise agree to writing, any application of proceeds so principal ,,hall not extend or
<br />pt'ostpone the due date of thr monthly payrnent% referred to in paragraphs I and 2 or change the amount of the pay merit% It
<br />under paragraph 19 the Pnnpertsv is acquired by Lender, Burrower %, right to any ut%urancr ix %hcne% arlcl prtcedd% re%lnittllg
<br />front damage to the Property prior to the ac•qur %rtion %hall pa%% to Lender to the c•%tew of the %inn, srcitred by fills Sccuru%
<br />Imirument immediateh prior to the acqufsittori
<br />6. Prmrratitra and Maintenance of Property; i clkwholds. Borrower shall not destn,y. I.unagc o,r ,ub%lantcllly
<br />change the Property, allow the Property' to deteriorate or cornmtt w;istc If tilt% ~county ln%tnirncnt t% an .i Icn%ctlold.
<br />Borrower %hall comply with file provtsiom of the lease, and if Borrower acquires fee title t(l the I'r,pcny. the Ie ;t%chold and
<br />fee title shall nof merge unless Lender agrees to the merger in writing.
<br />71 Pratection of Ikader's Rights in the Property; MortMv Insurance. It Born,wcr 1.111% to prrtrrin the
<br />ctsvrnanti and agrtcntent%consained in this Security in%trunient, or there i %a ic•gal pt,ceeding that nix% %igulfi, :anth :tile %I
<br />I.coder'% rights sit the Property I %uch as it Proceeding in bankrupt,:). probate. lot :,,ndennr ;alt nor so rnfntir law% , r
<br />rrgulahcros), thin Lender funk tlo and pa) for whatever t% neessary to prole: t the %,title ,I the 1'ropen% and 1 ersdet', nghl,
<br />in the Property lender's a :ctron% may in% ude Fumng any %um% crcnr.(I h) .! h,°n %1101 ha, tvr,,nn .,%er !!n,
<br />Instrument, appearrnjy m court, pasntg rcaumahlr ailnrnr)s' fce%and rntennE
<br />LI ender eta) takelvilml unciel fin% paratitaph ' l c rider do,r% not ha%e to do %o
<br />Any anumilis dishupedt,) Lerldernndertht% parag, taph ', %halllkt,meaddw,,itaidcla dH.rraer,< ul:.!I%fh�.
<br />Securiiy In %triltncnr I "nfc%< horroiwet and [,critter agree to rtht•r term% of t+a%rr i 1ec,r ,_, :.lr „h,i'
<br />the datr H cbrtrtirserncrit :no Cllr %-,fir rite and shall tc t.i,,thlr. a,i! rtt,,r„ ,,•,,,,
<br />rn.itw.�4trnx pas rrwen!
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