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<br />UNIFORM COVENANTS Borrower and Lender covenant and agree as follows: 004608
<br />1. Payment of Principal and interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal ofand interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes sad insurance, Subjcct 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 />one - twelfth of: (a) yearly taxes and assessments_ which may attain priority liver this Security Instrument; (b) yearly
<br />leasehold payments 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 ofcurrent 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 oc 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, 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 full of all sums secured by this Security Instrument, Lender shall promptly refund ul 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. finless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs l 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, fine% and impositions attributable to the
<br />Property 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 the perstm 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 />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 ilia manner acceptable to Lender; (h) contests in good yr
<br />faith the lien by, or defends against enforcement of the hen fu, legal proceedings which in the Lender's opumon operate to
<br />prevent the enforcement of the hen or forfeit is 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 fhis Security Instrument. If Lender determines that any pan of
<br />the Property is subject to a lien which may attain prionty over this Securmy lnstrumcm. Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or lake one or more of the action, set forth above within 1(1 days
<br />of the giving of notice.
<br />S. Iiazard Insurance, Borrower shall keep the iniprovcrnc•rlts now existing or hereafter erected on the Property
<br />insured against hxs by fire, hazards included within the term ••extended coterage•• and :uly other hazards for which lender
<br />requires insurance. This insurance shall be, maintained set the arnnunts and for the periods that Lender requires. 'hie
<br />insurance carrier providing the insurance shall he chosen by Bo,rowel suhµrl Ise Lender's approval which shall not he
<br />unrcaxmably withheld.
<br />All insurance policies and renewals shall he acceptable h, Lender and shall mclude it st:utdard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals If Lender reytures. Rmt,mcr shall prnnq,tic give to (.ender E
<br />all receipts of paid premiums and renewal notices in the dent of loss, Borrower shall give prompt notice w the uaurancr
<br />carrier and Lender. Lender may make proofof loss if fill,, made pronlpth say Rorrowcr
<br />Unless lxnder and Borrower otherwise agree it, writing, inNur lice proceeds shall tv applied to restoration or repair
<br />of the Property dauraged, if the restoration or repair is economicaily feasible and 1-caldef's let urit% is not 1,ssened. If the
<br />restoration or repair is not econaorrticall)' feasible or Lender's security would IV Ics-lied, the insurance proceeds shall i> -
<br />applied to the sums secured by this Security Instrument. whether or not then due, with any ctcess paid In Horrower. if
<br />Borrower abandons the Property, or does not answer within 3() days a notice from Lender Ilim the insurance ca itler has
<br />offered to settle a claim, then Lender may collvvt the nuura me prtcceds 1_ender may use the proceeds to repair or restore
<br />The Property or to pay sums secured by this Security Instrument, whether or not then due The 30 -Jay peruxl will begin
<br />when the notice a given.
<br />Unless Lender and iorrower otherwise agree to witting, any appliccat,rnl of praceedS In principal shaft nc,f cttcnd or
<br />postpone the due date off he ntowilly paymcnis referred to im paragraphs I and : or c bangc the amount of the pat mcnls. If
<br />under paragraph 19 the Property is acquirctl by Lender, florrowcr's right to any insurance Ioa)hcics and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent set -the sums secured by thus Sccurify
<br />Instrument immediately prior to tine acquisition.
<br />6. Preservation and Maintenance of Properly: Leaseholds. Ilortowe•r shall not dcstro %. d;,nlage or salhstanr:dly
<br />change the Property, allow the Prcgttfrty to deteriorate ur conutnt waste. if Inns Securlly lnstrurnew as on a leawbold.
<br />Borrower shall comply with the provisions of the lease. and if Borrower acquires fee [tile to file Properf y. the le.ueholat and
<br />fee title shall not merge unless Lender agrees at the merger rn writing
<br />7. Protection of Lender's Rights in The Property; Mortgage insurance, 11' Bofrowcr I;Ilk na Imfiam the
<br />eovcnants and agreements contained nl this Sect rity instrument, or there 1% it legal proceeding that nray slgndic:nitly affect
<br />Lender's rights in the Property (such as a pro, ceding in hankrupfcy. probate, for eonderim au,m it 1„ crltoice laws or
<br />reguiattom), theft Lender may do and pay' for wl•ate0er It necessary is, protecl rile %;slid i,I tilt- Propertl :,lid I orid"i •s rights
<br />in the Property, tender's actions may include paying anv sums secured ht is hen wharh has prnnafy ;,act flits Recuralt
<br />instrument, appearing m court, paying reaxmaide attorneys' fccs and entering ou tilt, Property io in:alc repairs :1!!h „ugh
<br />Lender may take action under flits paragraph ?, Lender does not Ili n, kill ski,.
<br />Anv amounts dishursed by 1.vndcr under this parrlgraph'shall hrconlr addmdalal drhr of Iioi t 11%k 1-7 std nacJ hr finis
<br />Security Invlrunent Unless Borntswrr and I.ender agree to other reams of par nacnl. Ihesv.omvo,ts shall K-.11 mi"I •sf Hon
<br />the date rd cbsburscment :at the !Vole title and shall he payshle, wali, mlctr t, a +on n„u,r fi„
<br />requcslingpaytrleat i nl 1 under t.• Boll %%,,I
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