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<br /> � ' ��`� ' UNIFORM COVBNANT3. Borcowcr tnd[.ender covenuu�nd agree as followa: �� _ ,_
<br /> �. 1. P�ymeat of iMaci�wl nud laterwt;Peer.nyn�ent aad Late ChArQes. Horrower shall prompdy pay when due �_._�._— .
<br /> � ., the principd of and interat on the debt avldenced by the Note and any prepoyment and late char�es due under the Note. ��.��•.�-"�•,.:_.�`�,_;,F__
<br /> ' � � " 2, Fuuds for Tw[ea and Inaut�nca Subject to applicable!aw or to a written waiver by I.ender.Borrower ahaU
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<br /> . pay w Lender on the dAy monthly pAyments are due under the Nwe. until the Note is paid in full,a rum("Funds")for:
<br /> (a)yeatly Wcm and assassments which moy attain prbrity over this Securlty lastrument aati A lien on the Property;(b)Year1Y _,_ - ---
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<br /> � lea�ehold poymenu or ground renta on the Property, if uny; (c)yearly ha•r.ard or property insurance prcmiums;(d)yearly -�
<br /> � ,. � • iood in�urance premiums,if any;(e)yearly mortgaga Insurance pamiums,if any;and(�any sums payable by Horrower ����
<br /> " ,. to Lender,in accordance with the provisions of paragraph S,in Ueu of the payment of mortgage ineurance premiums.These —
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<br /> w�-,�.;,� , items are called"Eserow Items."Lender may,at a�y tlme,collect and hold Funda in en emount nw to eaceed the maximum �a:.���- -
<br /> _:=�.� � , ' � amount v leiuler for a federally related mortgage loan nwy requin for Borrowar's eacrow account under tMe fcderal Real
<br /> - `� , Est�te Settlmnent Procedures Aa of 1974 as amer.ded from time w t�me. 12 U.S.C. $2601 er seg. ("RPSPA"), unless �� 5'�' � s`� °_
<br /> �� = ` ° �. another law thwt applies to the Funda se�c a lesser amount. If so,Lender m4y.at any time, coUect and hold Funds In ao —
<br /> �'a,��. • , , anount not to excad the leaser amount. L.cnder may esdmate the amount of Funds due on the basis of curcent dxta w�d � -__
<br />,J��E:.: �� re�conable esdmatea of eapenditurea of fi�ture Escrow Iums or otherwise in accordance with appliceble law. .., ,,,,,.., ,.
<br /> - 'Ihe Fuads shall bc held in en inrUtution whose depoaits are inaured by a fedcral agency. instrument�lity,or endty ; _.
<br /> � (including Lender.if Lender is such an insdtution)or in any Federal Home I..oan Benk. Lender shall apply the Funds to ------ _y"`�°' —'
<br /> ' , �� pay the Escrow Itema.Lender mny not charge Borrower for holdtng and applying the Funda,annuwlly enalyzing the escrow �•n-�-�-____
<br />� � eccount,or vedfying the Escrow Itema.unless[.ender pays Borrower interest on the Funds and appNcable Iaw permits Lender •�:�«�:f���
<br /> ,. to make such a charge. However. Lender nwy require Bonower w pay a une-time charge for an independent real estate •-'�"7f� �-LL;
<br /> tax roporting servioe used by Lender in conna�don wIU�this loan,unless applicable lew provides otherwlse.Unless an agreement �
<br /> is muk or wpplicable lew requires intcrest to be paid, Lender ai�ll not 6e required to pay Sorrower any interest or earninge • .,,:�,��
<br /> , ' on the Furids.Borrower and Lender may agree in wridng,however, that interest ahell be pafd on the Funds. Lender shell -
<br /> . give to Borrower,without chargc.an annual�ccounting of the Funda,showing credits and debits to the Funds end the purpose . .-
<br /> for which cach debit w thc Funds was madc.The Funds are pled�ed a�additio�wl security for all surns secured by this Seturity ;;;� _--
<br /> Inruument.
<br /> If the Funds held by Lender eacxed the amounts permittod w be held by npplicable law,Lender ahaU account to Borrowar ��'��;'��� —
<br /> • � for Ihe oxcess Funds in accordance wfth the requirements of ApplicAble law.If the amount of the Funds held by Lender at �'L�+���
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<br />� '" any time ic not suftkient to ps►y the Escrow Itema when due,Lender may so nodfy Borrower in xrciting,and, ln such case •:�•_.. .
<br />__ _ -T BusroYxr shall pay to Lender the emount nec+-aenry ro make up the deRciency.Borrower rhall molce up the deticlency in _
<br /> " no moro than twelve monthly payments,at l.ender's sole discredon. -
<br /> Upon payment in full of all suma secured by �his Secudty Instrumeat. l..ender shall prompdy refund to Bonower
<br /> - - el b I.ender.If under ara ra h 21 Lender shall xc ire or sell the Pr rty,l.ender,prfor to the acquisition � . '.
<br /> a n y F u a d s h d y . P B P • 9 u °P� ;�.
<br /> o r s a l e o f t h e P r o p e r t y,shall a p pl y an y Funds held b y L.ender at the time of Qc quisition or sale as A credit against the suma ., �.�..,...-•_ -
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<br /> secured by this Security Inatrument. 5�..a':r;�'_
<br /> 3. ApplkAtion of Paymenfs. Unlesa applicable law provides otherwjse,all paytnents received by Lender under •:;;1�;.�.�;
<br /> p a r a g r a phs l ond 2 shall be a p plied:first,to en y pre p a y ment ctwr ges due under the Note;second,to nmounts payable under r� �
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<br /> pu�reph 2; third, to interest due; fourth, to pdncipal due; and last,to any late charges due under the Note. � . a
<br /> .. 4. C h a r�es;I.iens. Borrower shall pa y all taxes,assessments,ch�rges, tines and impositians attributable to the •�'%�'''!'tis':.'� •''!
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<br /> Property which may attain priorlty over this Securiry Instrument, and leasehdd payments or ground rents. if any.Borrower ,_ ,,, �`�
<br /> ? shell pay thase obligations in the manner provfded in paragraph 2,or if not paid in that manner,Honower shall pay them t , !�
<br /> ' •` on time dirxdy to the person owed payment. Horrower shall promptly furnish to Lender all notices of amounts to be pAid � --��
<br /> �• , � wider this para�raph.If Borrower makes these payments diroedy,Bortower st�all prompUy fe�rnish to Lencler roceipts evideneinQ j � �;- .
<br /> ' �PaY�COtB. _ �
<br /> � �� Borrower shall prompdy discharge any lien whicb has priodty over Ihis Security Instrurnent unless Barrower. (a) � •
<br /> ! � agrees in writing to the payment of the oblig�tion secured by the lien in a manner acceptable to L.ender;(b)contests in gaod , •
<br /> ' faith the llen by.or defends aga�nst enforcement of the lien in,legal proceedings which in the L.ender's opinion operate to � - --
<br /> pcevent the enforament of the lien;or(c) secures from the hdder of�he lien an agreement satisfactory to I.ender subor- r'' •�r-_.
<br /> dinatjng the lien to thia Secudty Instrument.If Lender determines that any part of the Property is subJect to a lien which � �'=`";.��
<br /> may atwin prior�ty over this Secucity Inatrument, Lender may give Borrower a nodce identifyin�the lien.Borrower shall � ,
<br /> aatjtfy ihe lien or wice one or morc of the nctions set forth above within 10 days of the giving of notice. �
<br /> • " � S, f�tti1 or property lnsurpnce. Borrower shall kcep the irnprovements now existing or F►�rwfter erected on i �'.•'�.���
<br /> , �� the Propetty inaured ageinst loss by fire, hazards included within�he►erm"extended coverage" and any other hazards, �
<br /> ,. ' includiog floods or flooding, for which l.ender requires insurance.This insurnnce shell be mointained in the amounts and i
<br /> • for the periods that L.ender requires.'Ti�e insurance canier providing the insurance shall be chosen by Borrower subject to
<br /> Lender'�approval which shall not be unreasawbly witMheld.If Borrower fails to maintain caveruge described above,L.ender ,
<br /> may, at Lender's option,abtaln coverage to protect I.ender's rights in the Property in accordance with puagraph 7.
<br /> i • All insurance policies and renewals sFiall be stcceptable to C.etder and shall include u stendard mortgage clause.I.cnder
<br /> � sFwll have the right to hold the policies and renewuls.If L.ender requires,Borrower shall promptly give to L.ender all receipts
<br /> of paid pnmiums and renewai notices. In the event of loss, Barrower shall give prompt notice to the insurance carrier and
<br /> Lender. Lender may make proof of loss if not mndc promptly by Borrower.
<br /> Unless L.ender and Borrower otherwise agree in writing, insurpnce proceeds shall be ap��l ied to resturntion or repair •
<br /> of the Property dameged, if the restoration or repair is ecanomicnlly feasible and Lender's security is not Iessened. If the
<br /> � rcstoradon or repair is not economically feasible or Lende�'s security would be leasened,the insurance procceds shull be
<br /> applted to�he sums secured by this Securiry Instrument,whether or na thcn due,with any excess paid to Borcower.lf Borcower
<br /> � I ebendons the Property, or does not answer within 30 days a notice from Lender that the insur�nce carrier hs►s offered tu
<br /> . � _ J ,aenle a claim.then[ender mav collect the insuranre nroceeds.I.ender mav use the Droceeds to rep•rir or restore the Property
<br /> � or to p�y sums secured by this Security Insttument,whethe�or na then due.The 30-day period will begin when the notice
<br /> is given.
<br /> Unless L.ender and Borrower otherwise agrec in writing, any appiication of prcxceda to princips�l sh�ll not extend
<br /> or postpone the due date of the monthly payments refemed to in paragraphs I and 2 or chunge the amaunt of the payments.
<br /> If under puagraph 21 the Propeny is acquired by Lender,9otrower'x right to any insurance policies and praeeds resulting
<br /> + from dsmaee to the Properry prior to the acquisition shall pass tu Lender tu the extent uf thc,ums�ccured by this Security
<br /> Ynstrument immediately prior to the acquisition.
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