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85, 005050
<br />UNIFORM (:OVFN.ANTC Borrower and Lender covens tit 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 We charges due under the Note.
<br />2. Funds for Taxes and Iirsttranee. Subject to applicable law or to a writtc- t., cr by Lender, Borrower shall pay
<br />to Lender (in the day monthly payments are due under the Note, until the Note is pa:A t❑ full, a sum ( "Funds') equal to
<br />one twtlflh of. (a) yearly taxes and assessments which may attain priority over this Secunly 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 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 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 />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 he 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 debris 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 ur the deficiency m 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 to Borrower
<br />any Funds held by Lender. If under paragraph 1Q 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 i his Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall he applied: first, to amounts payable under paragraph 2; second, to interest
<br />due; and last, to principal due.
<br />4. CMaritm Liens. Borrower shall pay all taxes, assessments, charges, lines 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 in the payment of the obligation secured by the hen in a manner acceptable to Lender, (b) contests in good
<br />faith the lien 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 hen or forfeiture of any part of the Property: or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender suhordinatng the lien to this Security instrument. if Lender determines that any part of
<br />the Property is subject to a lien which may attain priority over thi, Security Instrument. Lender may give Borrower a
<br />notice identifying the hen. Borrnwer shall sanely the hen or take one or more of the acnrins set forth above within 10 days
<br />of the giving of not ice.
<br />S. Hazard insurance. Borrower shall keep the improvements nod ext%tmg 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 suhtect to Lender's approval which shall not he
<br />unreasonably withheld.
<br />All insurance policies and renewals ;hall he 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 promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of In-%, Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of hiss if not made promptly by Borrower
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall he 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 Lender's security would he lessened, the insurance proceeds shall he
<br />applied to the sums secured by this Security instrument, whether or not then due, with any excess paid to Borrower. if
<br />Borrower abandons, the Property, or does not answer within 30 days a notice from !.ender that the insurance carrier has
<br />offered 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 due The 10-day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monf hiy payments referred to in paragraphs i and 2 or change the amount of the payments If
<br />under paragraph iQ the Property is acquired by lender, Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the eytent of the sums secured by this security
<br />Instrument immediately prior to the acquisition
<br />6. Preservation and Mainlenance of Property; Leimholds. Borrower shall not destroy, damage or suh aantially
<br />change the Property, allow the Property to deteriorate or commit waste If this Security instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires for Title to the Prolicrty, the leasehold and
<br />fee tick shall not merge unless Lender agrees to the merger in writing
<br />7. Protection of Lender'% Rights in the Property; Mortgage insurance. if Borrower fails tow perform the
<br />covenants and akreements contained in this Security Instrument, or there is a legal proceeding than may significantly atfrct
<br />Lender'% rights in the Property (such as a proceeding in hankrupicy, probate, for condemnation m to enforce laws c•r
<br />tegulatunto. then Lender may do and Tway for whatever is necessary to protect the value of the Property and Lender's rights
<br />in the Property Lender's actions may Include paving any sums Otttirrd by a hen which has priority over this Security
<br />Instrument appearing in court, paying reasonable attorneys fees ind entering on the Ptoprrty in make repairs Although
<br />I.,endlirt may take a.noo under this paragraph 7, Lender does not have to do u%
<br />Any arrouitt%di%hursird h,, !.ender under this paragraph shall txcorne additional debt of Rorrowrn secured h% this
<br />4cunty laistnamtnt l'nlrss liori�wwcr ,anal i rndrr ar,rcr rt• rhrr icrrm of pasrnrni t hest vnnnnts shall twc,ir inrrrest In•m „�
<br />the date r,1 tttdurwroeni at tli,• %oir retr and .hall hr ri%thlr. with iwi -rrsi iprn 11000. frorll 1 cmtef lir•ti„wrr J
<br />+equcsttnt pnyincnt
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