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I r UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: [".64. - 004400 I, Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptiy pay when due the principal of and interest on Ihe debt evidenced by the Note and any prepayment and late charges due under the Note. 2, Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly paymenls are due under the Note, until the NOle is paid in full, a SUlIl("F~l1ds~')eq?alto one-twelfth of: (a) yearly taxes and assessmenls which may altain priority over this Security Instrument; ('o)y<illrly leasehold payments or ground rents on the Property, if any; (c) yearly hazard ins\lrancepremiums;and;,(d}yel\r1r mortgage insurance premiums, if any, These items are called "escrow items." Lender may estimate 1heFund~(jue?n:the., basis of current data and reasonable estimates offuture escrow items, .'. .... 'T" ';"';'?i: . The Funds shall be held in an institulion the deposits or accounts of which areinsuredorguaranteedbya.Jede~l.o~ state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to 1he!'$cf:owi.t~s, Lender may not charge for holding and applying the Funds, analyzing the account or verifying .. . it~j~sg~!'SS< Lender pays Borrower interest on the Funds and applicable law permits Lender to maleesucha.c. ,., ...... ll(jrro)~'~~d" Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made 'or a~plicable"I~w requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the FUllds,-Lem:ler' shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits totheFUI.Jdsandthe::' purpose for which each debit to the Funds was made. The Funds are pledged as additional security forthesuinssecnred'by this Security Instrument. If the amount of the Funds held by Lender, together with the future monthly payments of Fundspayableprioqo the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess s.\1aI1 be; . at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lenderany. amount necessary to make up the deficiency in one or more payments as required by Lender, Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borro\Ver any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender althe:rimeof application as a credit against the sums secured by this Security Instrument. 3, Application of Payments, Unless applicable law provides otherwise, all payments received by Lender under paragraphs I and 2 shall be applied: first, to late charges due under the Nato. second, to prepayment charges due lindeI' the Note; third, to amounts payable under paragraph 2; fourtlt, to interest duc." d last, to principal due, 4. Charges; Liens. Borrower shall pay ail t::ixes, assesSInf c;urges, fines and impositions attributable to-the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any, Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrume,,! unless Borrower: <a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the hen or forfeiture of any part 0f the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part'of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the hen. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. S, Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included withm the term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier provldmg the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably wilhheld. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the pohcles and renewals. If Lender requires, Borrower shall promptly give to Lender ail receipts oi paid premmms and renewal notices. in the event of Joss, Borrower shaH give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower, Unles..'\ Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Secunty Instrument, whether or not then due, with any excess paid to Borrower, If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lend~r may collect the insurance proceeds. Lender may use the proceeds to repair Of restore the Property or 10 pay sums secured by this Security Instrument, whether or not then due. The 30.da)' penod will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or chonge the amount of the payments. If under paragraph 19 the Propeny is acquired by Lender. Borrower's right to any insurance policies and pn'lCceds resulting from damage to the Property prior to the at:"quisition shall pass to Lender to the extent of the sum~ secured by thls Secunty Ins[rument immt:diately prior to the acquisition. 6. Preservation and ~laintenance of Propert)": Leaseholds. Borrower shall not destwy, damage <Jr substanuall) change the Property, allow the Property to deteriorate or commit waste. If thls Securny Instrument lS l.m a lca~ehl)ld., Borrower shall comply wuh the provisions of the lease. and if Borrower acquires fee tule to the Prorert~, the leasehold and fee Utle shall not merge unless Lender agrees (0 the merger in wntlng. 7. Protection of Lender's Rights in the Property; :\lortgage Insurance. If Born..)wer rail~ tl1 perfl)rnl Iht' CO\.enants and agreements (ontained 1I1 this Security Instrument, or there i~ ~ le~al pro....'ecdlllg. lhat ma~ \.1g.llliil'antl)- .1tlt'ct Lender's nghts in the Property (such a~ i1 p((lt:teJwg in bankrupiC), prob.H(, fp, .:nnJernn~tlt)n l'l" tl' L'nfl'fl.e 1<1\\... ('If regulations), then Lender may do and pay for whatever is necessary to prl)te....t the \ alue \)f the PnJpat) M1J Lelhjer'~ nghb in the Property. Lender's actions may include paymg any s.um!' ~t'l'un..~d hy a lien Whlr:h ha:-. rrh1I'lt~ ,1\l'r tlw, S~\.'unl~ Instrument. appeanng in court, paying reasonable attorneys' fee~ anJ l'nterlllg on tht' Pn.1pert~ tu makl: rer~ur... Altlll'ugh lender may take action under this paragraph 7, Lender doe~ not haye to d",' \1) An)" amounts dl!)bursed by Lender under ttll~ paragraph ~ ,h.lll be..~on1t"~ addlllon"d lieOI of BOrf\1\\'er St~..:urt'd b~ trw.. Security Instrument. Unles~ Borrower and. L.:nder agree ll) other term:-. of pa:- tnenl. !ht'~e ~moUnl:-. ",h;tlll"lt,'af' Hllt.Tt....l fmlll the date of disbursement at the Sote ralr and shall be pa~;tblt', \\-nh mlt'ro!, u!,~ln 11\'111':( f!1-'11l I clll..kr II' BilUP\\l'l requesp_ng payment ! ^-,~- .r L