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<br />;--s 004910.10 I
<br />UNIFORM COVENANTS. Borrower and Lender c(ivenant and agree as fellow,:
<br />1. Payment of Principal and Interest; Prepayment and Late Charttes. Borrower shall prompth pap when (tile
<br />the principal of and interest on the debt evidenced by tine Note and am Prepayment and late charges due under the Note.
<br />1. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver b} !..ender. Borrower shall pap
<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 />(me- twelfth of: (a) yearly taxes and assessments which may attain priority- over this Security Instrument; (b) year)p
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) )early
<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 fur ure ea:row items.
<br />The Funds shall he held in an institution the deposits or accounts of which are insured or guaranteed by a lederul or
<br />slate 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 />Leader 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 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 credits and debds.to the Fund; and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured b)
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly pavments 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 io 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 v., Borrower
<br />any Funds held by Lender. If under paragraph 19 the Properly is sold or acquired b) Lender, Lender shalt 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 I 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; Lieu. 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 />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 />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 Lcnder; (b) contests to good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in rile Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture Of troy part of the Property: or (c) secures from the holder of the lien an
<br />agreement satisfactory [o Lender subordinating trite lien to this Security Instrument. if Lender determines that any part of a`
<br />the Property is subject to a lien which may attain priority over this Security instrument. I.,ender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />5. Hazard Insurance. Borrower shall keep the Improvements now existing or hereafter erected on the Yropern (,
<br />insured against I(ns by tire, hazards included within the term "extend :I coveruge" and any other hazards for which Lender i
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lcnder requires. The
<br />insurance carrier providing the insurance shall he chosen by Borrower subject to Lender's approval which shall not be
<br />unreas(mably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall Include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall prompth give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance
<br />carrier and Lcnder. Lender may make proof of loss if not made promptly by Burrower.
<br />Unless Lender and Borrower Otherwise: agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Linder s security would lie lessened. the insurance proceeds %hall he
<br />applied to the sums secured by this Security Instrument, whether or not then due, with an) excess paid to Borrower It'
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />ofrered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security instrument, whether or not then duc. The 30 -day period will begin
<br />when the Notice Is give.['.
<br />Unless Lender and Borrower olherwiscagree in writing, any application of proceeds to principal shall not extend or
<br />posipie the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. if
<br />m
<br />under paragraph 1q the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulunr
<br />from damage u1 the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Securny
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; L.easchoids. Borrower steal! not ticsirop, damage or subst:uun:+Ily
<br />change the Property, allow the Yroperlq to deteriorate or commit waste It' 11111 SCCUrnty Instrument a of, a leaschoitl.
<br />Borrower shall comply with lite provisions of the lease. and of Borrower acquires fee title to the Property. the Ica chold anti
<br />fee title shall not merge unless Lender agrees to the merger it, writing
<br />i. Proteeli(m of Leader's 1tilthtd in the Property: Mortttatte Insurance. It' Borrower faits to perform the
<br />covenants and agrcemrnts contained in tins Security instrunteut, or there is a legal proceeding that may signntic:nnh :dfect
<br />Lender's rights ht the Property (such as a proceeding fit hankruptcy, probate, for condemnation or u, enf vn lows or
<br />regulations). then Lender stay do and pay for whatever t, necessary to pnnect the ,slur of the I'ropertc and 1_cndcr's right
<br />in the Property Lrndcr's actions nuay Include paying any Burns secured by ❑ hen which has prinrity over this Security
<br />Instrument, appearing un court, paying reasonable •rttonnecs' fees and entering on file Property r,, make repatrs. Although
<br />L.r"der may takr acurnn under this paragraph'. Lender does not h:rs, 11 do so
<br />Any amounts disbursed by I vilder under this paragraph " shall hcconic uddo' mal dcht of Borrower sues -_-O h, I sus
<br />Sc, uruy Instrurent uides borrower and l.cm.ler agree u: other terra d pacnu•nL these AnI'I"'IT' shall he,O 1111`1 `t from
<br />the date of dishursement :11 the Not,-- rate sail shall he pa(ahic utlh a e-c,I, ut „n n„tu'e IF ,m i ,ndr1 I B0111•we'
<br />requesting payment
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