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UNIFORM Covl :rv.aN ts. Borrower and Lender covenant and agree as follows: 0061031
<br />1, Payment of Principal and Interest; Prepayment and Late Charges, Borrower shall promptly pan when due
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and Irate charges title under the Noic.
<br />2. Funds for Taxes and insurance. Subject to applicable law or to a written waiver by Lender, Borrow ershall pay
<br />to Lender on the day monthly payment% are due under the Note, until the Note is paid in full, it Turn ("Fund,"} equal Io
<br />one twelfth of (a) yearly taxes and assessments which may attain priority over this Security Instrument: (h) %early
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hart rd Insurance premiums: and (d} yearly
<br />mortgage insurance premiums, if any. These items are callecl "escrow items.,, Lender may estimate t
<br />basis of current data and reasonable estimates of future escrow items. he Fund, clue on ;he
<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 Ilse escrow items, limes%
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender t I 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 he paid, Lender shall not be required u, 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 debit, to file Fu rids and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the slifils urr<! ht
<br />this Security Instrument. -
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior u+
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shat! bra
<br />at Borrower\ option, either promptly repaid to Borrower or credited to Borrower tin monthly payment~ of Funds. it' the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay Ill Lender am
<br />amount necessary to make up the deficiency in line or more payments as required by Lender.
<br />Upon payment in frill ()fill] sums secured by this Security Instrument. Lender shall prnntpth refund to Borrower
<br />any Funds held by Lender. If under paragraph I9 the Property is sold or acquired by 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 rime of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application or Payments. Unless applicable law provides otherwise, all payment, recei%cd h%. Lender under
<br />paragraphs 1 and 2 shall he applied: first, to late charges due under the Note: second, to prcpat ment charges duc under the
<br />Note: third, to amounts payable under paragraph 2; fourth, to interest due: and last, to principal due.
<br />6• Charges; Liens. Borrower shall pay all taxes, assessments• charges, fines and nnpo,itions 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 ,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 makes these payments directly, Borrower ,hall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority o%er [tits Security instrument unless Borrower: tar
<br />agrees rat writing to the payment of the obligation secured by the lien in a manner acceptable no Lender, (b) conte%[s nI good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender'% opinion operate b,
<br />prevent the enforcement of the lien or forfeiture of any part of the Property: or (c) secures from the holder of the hen an:
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that ant part of
<br />the Property is subject to a lien which may attain priority liver this Security Instnrn,cnt. Lender stay gltc Bnrnwter :+
<br />notice identifying the lien. Borrower shall satisfy file lien ur take uric or more of the actions art forth abuts wnhm 10 data
<br />(if the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on fire Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and a71% other hazard" for which Lender
<br />requires insurance. This insurance shall he maintained in the amounts and fi,r Tile per,ocf% that Lender require, The
<br />insurance carrier providing the insurance %hall he chosen by iorrower .ub�ect to Lender's appnoal w h,cb shall nor he
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and %hall Include a standard mortgage clause
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Burrower ,hall promptly g, 'e to Lender
<br />all receipts of paid premiums and renewal "()trees. In the event of loss, Borrower shall gi%r prompt notice to the ntsurn:ce
<br />carrier and fender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lendcrand Borrower otherwise agree in writing,,n%urance. proceed %,half he applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender', %county Is not !cs%ened If the
<br />restoration or repair is not economically feasible or Lender's security would tic le%scned, the Insurance proceed, ,hall he
<br />applied to the sums secured by this Security Instrument, whether or not then due, wuh any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier ha,
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender oral. use the proceeds to repair or restore
<br />the Property or to pay Sums secured by this Secunty Instrument, whether or not Ihen duc. I he ?0 -day Period writ hcg,n
<br />when the notice is given.
<br />Unless lender and Borrower of herwiseagree in wrung. any apphc:ll tit of proccels to princrpal,hall mat cxrend or
<br />Postpone the due date of the monthly payments referred to "t paragraphs I and _' ur change [he amount of the pay men[, If
<br />under paragraph 19 the Property is acquired by Lender. 13orrowcr\ right u+ any nnsurance policies and proceed, rc,udtn,g
<br />from damage to the Property prior to the acquisition, shall pass to Lender to the "Icnl of the -Ill, secured by ifu% scour „%
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall rant destroy, d ;unagc or tut +sta „t,,,ih
<br />change the Property, allow the Property to deteriorate or commit waste, if this security Ifistrumcnt is on ;, Ira,rb„Id.
<br />Borrower %hall comply with the provisions of the lease, and if Borrower acquire, fee title to the 1'n,perty. the Icaschnld and
<br />fee titicshall not merge unless Lender agrees to the merger in wrTUng.
<br />7, Proteetlolt of Lender' Rights in the Property; Mortgage Insurance, If Borrower t;nls to perform file
<br />covenant %and agreernenls c III tat ned ur this Security l list rumenl. Iir Ihcre I, a Icftal pn,cecdnrg Ihal n,a% ,Ignllicantf% aAerl
<br />Lender'+ rights in file Property ( %uch as a proccedink in hankruplcy, prohvc. for condomnati +,n of to cnforcc law, oT
<br />regulaliem%), theft Lender may do and pay for whatever I% necessary it, ptotecf the ,;riuc otlhe Property and I ender', right,
<br />in the Property. Lender'% action% Inay Include paying ally sun,% secured ht a lien which has puonh oter rill, tie, inn
<br />Itwtrunlenl, aplxaring In court. paying reasonable atorne%s' fee, and enrerrng on rile Property in "rake rcp:nrs - Uthouch
<br />L bender may lake action under f lit% p iagraph 7, Lcndcr dew% not hate Io till "o
<br />Any amounl %ih %bnrsed hl, Lcndcr,,filerIbl% paragraph %%li.dihcrorncaddrti „rri)dehf ,I Boo n"wcl,r.urcdhttill,
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<br />tilt lair of dl%buhemvu ;+I the `tuuie raft, and ,hill hr I,.n:,htr. with our r,I. ul,on an• I rndri Ire H„rr m,v
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