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$5- 0062`3
<br />UNtFORN CovFNANT Borrower and Lender covenant and agree as follows:
<br />I. 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 Insurance. Subject to applicable law or to a writic -. t.,cr by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is pair+ ti. full, a sum ( "Funds ') equal to
<br />mie-twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument: (b) yearly
<br />leasehold payments or ground rents on the Property, if any. (c) yeal'ly hazard insurance premiums; and id! 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 />start agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may hot 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 />"quires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give m 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 addinonai 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 Borrowers option, either promptly repaid to Borrower or credited to &trruwer 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 shad pay to Lender any
<br />amount ncr vsan w 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 to Borrower
<br />any Funds held by Lender. If under paragraph 19 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 :t
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, alt payments received by Lender under
<br />paragraphs', and -2 shalt be. applied: firm. to amounts payable under paragraph 2; second, to interest
<br />due; and last, to principal due,
<br />4. CLargm Liens. Borrower shalt pay all taxes, assessments. charges, nnes and impositions attributable to the
<br />Property which may attain pnrrlty over this Secunty Instrument. and leasehold payments or ground rents, if any
<br />B%xra±wer shall pay these obhgmtom m the manner provided in paragraph 2. or if not paid in that manner. Borrower shall
<br />pay them in 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 &irrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any hen which has priority over rh,, Secuity Instrument unless Borrower: tai
<br />agrees in writing to the payment of the obligation secured by the hen m a manner acceptable to Lender: ib) contests m gaud
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedir :g% which in the Lenders opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the P!opern. Or (c) secures frmn the holder of the lien an
<br />agreement satisfactory to Lender suhordinating the lien to this Securiv. Im trumew If Lender determines that any part of
<br />the Property is subject to a hen which may attain pnomy over this Security lnsirument. Lender may gtvt Borrower a
<br />notice identifying the lien Borrower shall satisfy the lien or take sine c,r more .f the action% set forth above with ;n iii days
<br />of the giving of notice.
<br />5. Hazard Insurance. Borrower %hail keep the imprciycmen =.s ,a. t% c%isrinz or hereafter erected on the Property
<br />insured against loss by tire. hazards included within the term "extended +l.eragr' aria any other hazards for which Lender
<br />requires insurance This insurance %hail tv. maintained in the amounts and for the periods that Lender requires The
<br />insurance camer providing the insurance shalt tie chosen by Borrower suh.;ect w lender's approval which shall not be
<br />unreascinabl% withheld
<br />All insurance policic% and renewals shall he acceptable to Lender an- shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. if Lender requtr,-,. Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of Ic+ss. Borrower shall give prompt notice to the insurance
<br />carrier and Lender Lender may make proof of loss if nest made prompt iy by Borrower
<br />Unless Lender and £3<irniwer otherwtsr agrrr in wnimg. insurun.r proceeds shall he applied to restoration or repair
<br />of the Property damaged. if the restoration or repair is economically `eas,bie :ana Lender'% security i% not lessened If the
<br />restoration or repair is not economically feasible or Lender's smunty would he lr %sened. the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or nest then due, with 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 caner 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 ore to pay sums secured by this Security Instrument. whether or not then due The ?0 day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of pro a cJs to principal shall not extend or
<br />postpoine the due date of the monthly payments referred to in paragraphs t and 'ear change the amount of the payments if
<br />under paragraph 19 the Property is acquired by Lender, Borrower'% tight to am insurancc policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass io Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior ro the acquisition.
<br />6, Preserratioa and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substannail
<br />change the Property, allow the Property to deteriorate or commit waste if this siccurity Instrument is aiti a leasehold.
<br />Borrower shall comply with the provisions of the lease. and if Burrower acquires fee title to the Property. the leasehold and
<br />fer title shall not merge unless Lender agrees to the merger in writing
<br />7. Protection of 1:.ender's Rights in the Property: Mortgage Insurance. I; HtltTaiwCr fail% to periiirm the
<br />covenant %and agreement %contained in this Security Instrument. or there is a legal txoicedink that may slgtnttic•antly affect
<br />Ltnder't rights in the Proper1% winch as d proceeding in hankruplcy. probate. for oindemnation or to enforce laws sir
<br />regulations), then Lender fray do and pay f[ar whatever is necessary to protect the value of the Property and Lender•% right%
<br />in the Property lender', actuvi% may include paying any wni% secured M a hen which has pnom%I over Ibis Security
<br />L TnMtrument, alipeanng in rtiurt. pa \in& rC3%0H1abiC al10r11Cy %' fCC% and entering a the Pr.peri% t+• make tep:or% Although
<br />Lender may take aetton under ihry t aragrdph 7. 1 cndc r +to -s not ha%c to do %u
<br />Any amount, da%hursrd by Ltndet under thi, , li,agt;lph'shail i.ei ome additional dehi A Horrower secured by this
<br />5C,unK- Ins'.rtuncnt Unless Hortowrr and 1 cndcr wtcr in ,�tlirr Linn% �' ",IN rnrri. thcwr anl..attts shrill tsar "trier fr +m
<br />the date of dishur%rmrrit at 1hr time iatc .and .hall i", fr +,m I doter I" Hortr.%i•r
<br />re4ucctantt t�avtncitr
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