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<br /> � UNtFORM CovENAN1's. B�rrower and L.ender covenxnt and agree as Pollows: _
<br /> 1. ��yiaeat of Princlpal�ad iatcre�t�Prepaymeat�nd L.ab CharQer� Borrower shall promptly pay when due -
<br /> tha principal of and interest on the debt evidenced by the Notc and any prcpayment and late chargc�Jue under thc Nntc.
<br /> � 2. Fuada for Taxe��atl Itnurnnce. Subject to Applicablc laa or to A written wuiver hy Lender,Borru wcr shwll pwy
<br /> to l.nnder on the day montbly p�yments erc due under thc Nate,until thc Note iR paid�n full, A rum("Fun d�') equs+l io
<br /> ��t��rr;;, one-twelflh oP: (a)ytarly taxes and assccsmenta which may pttain prlority over this Security Ins�rumen�;lh)yearly
<br /> r.;�*.�. •�•� leasehotd payments ar ground rents an the Property. iP a�y; (c) yearly hozard insurance prcmiumti;and(d)yeurly
<br /> mortgage insuran�e premiums.if any. Thcse items are called"escrow items."Lender may es�ima�e thc Funds duc an Ihe
<br /> >-._ basisofcur�ent dytaand rea�onableestimataof Putureescrow items.
<br /> • -.�tc.:..�� . The Funds shall be held in an inadtution the deposits or nccounts oP which are inaured or guurantecd by a federal or
<br /> _ .��;�is%��'`� �taie Agcncy pncluding T..ender if Lendcr is such an instiwtion). l.ender ghal)apply tha Pund����nuy thc euru�v itcros. -
<br /> - � Lender may not charge Por holding end applying the Funds, anRlyzing the account or verifying the e�craw i�ems,unlesti G
<br /> ,-_,3.���•�'f: � �•" I..ender paya Horrower interest un the Fundc and applicable lew permita Lender to muke such u churge, Fiormwer and
<br /> ,���°•;-.••����t Lender may agra in writing that interest sholl be paid on the Funds. Unl�ss an agreemenl is mude or u�lic:ablc luw ---
<br /> ` . requircs interest to be paid,Lender shall not be required to pay Borrower Any interest or earningc on the Fundti.l.cndcr
<br /> —�s�"w�'-'" sholl give to Borrower,without charge,an ennual acwunting af the Funds shawing credits and debits to the F�unds and ihe
<br /> —• � ' purpose for which each debit to the Funds was made.The Funds are pledged ua additionel securiry Por the surns.ecured by i
<br /> r � ,,4w .•,.• � thisSecu�ity Instrument.
<br /> � :�.h,..�.::,.. .,._ If the amount oP the Fund�held by I.ender,together with the future manthly payments oP Funds pa y�ble prior ta
<br /> �Y�• • the due dates oP the escraw items.shall exceed the amoun�required to pay the escrow items when due,t he e�eass shall be,
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<br /> ���•� at Borrower's option,either promptly repaid to Borcower ar credited to Borrawer on manthly payments af Funds.If the
<br /> -_- amount of'the Funds held by Lender is not suflicient ta pay the escrow items when due,Horrower shall pay eoLender any
<br /> � ��=•"r'`'""'"` ' amount neces.�ry to meke up the delicimcy in one or more payments as required by Ixnder.
<br /> , �?. ' '_<.-_.:`���!� Upan payment in fLil Af all sums securcd by this Security Inatrument,Lrnder shall prompdy refund to Borrower _
<br /> --.� °` any Funds held by Lender.If under parngraph 19 the Property is sold or acquire.ci by I.�nde�,Lender shall upply.no later �
<br /> - � than immediately prior to the sale of the Property or its acquisition by Lender,any Funds held by i.ender ai the time of ��-
<br /> `������,��','"�''�+�.� app l ica t ion as a cr e d i t a g a i n a t t h e aums secured b y this Securit y Instrument.
<br /> �� � � � 3. ApplicANon ot PAymento. Uoless applicable law provides otherwise,all payments received by l.rnder under _
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<br /> �t• '�t� paragrnphs 1 and 2 chall be applied:flrst,ta late charges due under the Note;second,to prepayment charges due under the __
<br /> s=:�5 � � � �'�• Note;third,to amounts payable under paragrnph 2;Poucth,ta interest due;and last,to principal due. �"';"`
<br /> ''�- -°�"'-= 4, C6arQcs;Lieas, Borrower shell pay nll taxa�,as.gessments,charges,Hnes snd impositions auributabk to the
<br /> "-'.�_ . .°;ti,� Property which may attain priority over this Security Instrument, and leasehold payments ar ground rents,if any. —
<br /> "--'�+�� ;•• �, : ' Borrower shall pay these obligations in the manner provided in paragraph 2,ar iinot paid in that manner,Bartower shall __
<br /> �` '�r= pay them an time directly to t he person owed payment.Borroaer shall promptly Purnish to Lender all natices of amoun�s
<br /> --� ` ., '° ° to 6e paid under this paragraph. li Borrower makes these paymenta directly,Bnrrower shell promptly fumbh to Lender _
<br /> •:� ::.:�,Y:•.�,u.�,�'�. receipts evidencing the paymenta.
<br /> -,' -- _ - - °= eorrower shali promptiy dischnrge any Iien wi�i�h has priotiiy ovcr ihi�Secusity In.strutncnt ank�.c Hnrrower:(al
<br /> .'•'""' � agrees in writing to the payment of the obligation securcd by the lien in a manner acceptable to Lender,(b)comests in gaod --•-
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<br /> .:,;;�� � faith the lien by.or defcnds against enforcement of the lien in,legal proceedings which in the Lender's apiraion operate to
<br />-_ �:�'F�� prevent the enforccment of'the lien or fbrFeilure of any part oP the Property;or(c)secures from the holder of t he lien an �,:.
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<br /> ,,-,.� ,� agreement satiafactory to Lender subordinating the lien to this Security Instrument.If I.ender delermines tt�4t any part of _
<br /> = the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrowcr a � �
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<br /> Vf K •.. k notice identifying the lien.Borrower shall satisfy the lien or take one or more of the actions set Porth above�vithin 10 days
<br /> ' •• �:i�,. of the giving of notice.
<br /> '-� � � .�:•� ��� ��.,w: S. Ha�rd Ineurance. Borrower shall keep the improvements now existing or hereafter erected on ihe Property �-:�;
<br /> � • � . • insured againat loss by 8re,hazards included within the term"extended coverage"and any other hazards for which Lender
<br /> ��.. � -" .,., roquires insurance. This inaurance shall be maintained in the amounts nnd for the periods thut Ixnder requir�s. The �.���
<br /> ?!„' ; E.,.. • " insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which st�all nut be =
<br /> •.�,,:�.� unrcasonably withheld. �!i=��
<br />,',,, �.'� .._ All inaurance policies and rencwals shall be acceptuble to Lender and shall include a standard mongage clause. '
<br /> , �;w. .; °`r�,.''. •'°. L.cnder shall have the right to hoW the policies and renewals.If Lender requires,Borrower shall prompUy give to Lender �` ,
<br /> . '' ;�c! all receipts oP paid premiums and renewal notices.In the event of loss.Borrower shall give prampt notice to Ihe insurancc �_
<br /> '�''�`��� carrier and l.ender.Lender may make prooPof loss if not mude promptly by Borrower. —
<br /> ". � Unless Lender and Borruwer otherwise agree in writing,insurance proceeds shall be applied to restoraiion or repai r �`-:;�
<br /> �� .... _ of tMe Property damaged,if the restoration or repair ia ceonamicully feASible and Lender's security is not lasened. IPthe ____
<br /> • � restoration or repair is not economically feasible or Lender's security would be lessened,the insurance praceeds shall be �__ �
<br /> ' . ,,,. spplied to the sums securcd by this Security Instrument,whether or not then due,with nny excess paid t o Borrower.If _
<br /> , Borrower abandons the Propeny,or dces not ansivar within 30 duys n notice irom i.ender that the insurwnce carrier has ��_
<br /> a�%�=` � oflered to settle a claim,then I.ender may collect the insurnnce proceeds.Lender may use the praceeds tu rep�ir or restore _ _
<br /> ' . - the Property or to pay sums secured by this Securiry Instrumcnt,whether or not then due.The 30-day period will begin :v,;-
<br /> . when the notice is given. �_�_
<br /> �-• Unless Lender and Borrowe�otherwise ngree in writing,uny upplicution of procccds to principal sha 11 not e�tend or -_
<br /> ' � postpone the due date of the rnonthly payments refeRed tu in paragrnphs I and 2 or chc+nge the amourtt of the ps�yments.I f
<br /> under paragraph 19 the Property is acquired by Lender,Bor�ower's eight to nny insurance policies and prc►ceeds rcsulting
<br /> • , from damage to the Property prior to the acquisition shall p�ss to Lender to the extent of'the sums secured by t1�is Security
<br /> ' ° Instrument immediately priur to the acquisition. � •
<br /> � 6. Preservation and Ataintenance of Property:Lcascholds. B��rmw•�r shall nat de+truy,damage ursuh�tantiall�
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<br /> a" change the Property. allow the Pmperty 10 deleriorate or commit wa�te. If th�r S�wunty Instrument i� un a le•r�rhal�.
<br /> � Horrower shaD comply with the provisions of the lea�e,and if Horrowrr arywre+Pre ntlr t��the Pm�+ert y.lh rlesKhi�ld and �
<br /> ; Pa title shall not merge unless Lender ugrees tu Ihe merger in u nling.
<br /> ? 7. Protection ot Lender's Riqhts in tAe Property; �tortgn�e Insurance. Ii Ri�rrower tails tu perform the �
<br /> • „ ' covenants and ogreementscontained in thi+Security Inctrument.ar ther�i�a Iegal pr�xeeduig that muy signifiranlly aflect
<br /> Lmder's rights in the Property(such as a proceeding in bank�uptry.pmbate, for condemnahon��r to enforre law+or �
<br /> �.o�.�.e�.,n��.rhen I ruder muv dn and�av for whatever is nece.�ry tu prat�tit the value of thc Pro�+eny •rnd Lendcr'.right.
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<br /> in the Property. Lender's uctiuns muy include paying Am• sum.xwur��c1 by n hen a•h�ch na.pn�,nty o�•erini.5ccun�y
<br /> ., Instrument,t+ppenring in court,paying reax�nable attorneys'Pees and enlenng un the Pru�xrt�t��make repain.Although
<br /> . � Lender may take artion under this p�ragraph 7,Lrndrr d�x�ni�t ha�r to di�eo.
<br /> � Any umounts disbursed by Lender under this paragraph 7 shall l+�wume additi��nal debt of R��rraarr�u�ed b�•�h�s
<br /> Securiry Instrument.Unles.� Borrow•�r and Lender agree tu other trrm.uf pa}•mcnt,the.e•rmuunt.�hall br�r in ter�,�ir��m
<br /> ' • •�� the date of disbursement nt the Note rate and shall t+e pay�nlc, wrth mtrn�ct. u�x�n noure fr��m Lend er t�� f�,rrau rr
<br /> raqueatmg payment.
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