„ �
<br /> 2� 1 ��4� 13
<br /> !f Borrvvv�r pays Funds t� Len��r, �he �unds sha�� �oe held in an �nst�tut�on the d�pa�it� or
<br /> ac�ounts �f wh�ch are insured vr uaranteed b a Federal �r tate a ertc �ncludin Lend r if
<br /> 9 Y $ � Y � 9 �
<br /> Len d�r is suc h an �ns t�tu tian}. Len d��- �ha l l app�y t he Fun d� t❑ pay sai d taxes, assessm�n ts,
<br /> insurance premiums and �round rents. Lender may nc�t �harge fc�r so holding �nd apply�r�g tMe
<br /> Funds, anal zin said account �r ver�f �n and cam i�in said asse�sm�nts and �ill� unl�ss
<br /> Lend�r a s Bar�rower �nt�rest an the Fun�s and a lcab e law Ermi s Le�der ta make suc �
<br /> � Y , pP P � , M
<br /> char�e. Borrawer and Lende�r m�y �gree �n �rvrit�ng at th� tim� ❑f executron of this S�curity
<br /> �nstrument that int�r�st an th� Fur�ds shal� be pard to Borrvwer, and unle�s such a�re�ment �s
<br /> mad� ar ��piicable �av� require� such int�rest to be paid, Lender sha�l nat ��. r�quEred to pay
<br /> Bo��-oWve� any ��t�rest or earn�ngs on the Fur�ds� L�nder shall giue ta Barrower, without charge, an
<br /> an��al acc�unt�n af th� F nc�s showin cred�ts and eb�ts th �' n
<br /> ,g u � � tc� e u ds +ar�d th� purpas� fvr
<br /> which each de�it ta tl�e Funds rnras made. The Funds are pl�dged as add�t�onal secur�ty far the
<br /> sums seGured �y�his Secur�ty lr�strument.
<br /> lf the amount of the �unds held by Lend�r, together ►nri�h �he future monthly inst�l�ments of
<br /> Funds payable priar to th� due dat�� of taxes, assessments, insurance prem��ms and ��round
<br /> r�n�s, shall exceed the am�unt �equired to pa� said taxes, assessment�, ���uranc� premiu�r�s a��
<br /> ground r�nts as they �al� due, SUC�'1 �3�C�S5 S�"1a�I �7�� at Borrorr�r�r's aption, ��th�r pram tly repaid
<br /> �
<br /> to �orrawer c�r cre�it�d �a �nrrorrver on mont�ly insta�lments of Funds. lf�he amount o th� �unds
<br /> h�ld �y Lender shall r�ot b� sufficien�to pay taxes, assessm�nts, insurance premiums and graund
<br /> rents as they fall due, garrower shall pay to L�nder any am�ur�t necessary ta make up the
<br /> def�c�ency in one or mnr� payments as Ler�der may r�quire.
<br /> �J non arr ment ir� fu�l ��a1� sums secured b�r th�s Se�urit�f lnstrurnent L nde s a�! r t�
<br /> �'” � ,1 .7 J r � � h �P �mp Y
<br /> re��nd to Borrvwer any Funds he�� hy Lender. �f under para�ra�h 2� hereof the �'raperty �s s�fd sor
<br /> th� Pra �rt is ather►nr�se ac uire� b L�r�der �.end�r shall ap � no later than �mme�iatel r�or
<br /> to th� sale af the Pro ert ar its ac uisit�on � L nd�r an Fp nds h ld L n � �
<br /> p � q y e , y u e by e d er at the t�m� of
<br /> a�p�ication as a �redi� aga�rt�t�he sums se�ur�tl b th�s 5ecurity lnstrurrtent.
<br /> 3, la �icat�a� �f I�a E°nen�s. Unie�s a �i�ab�e law ra�id�s otherwis� a�l a me t� recei�ed
<br /> . �
<br /> � Lend�r un�er the �redit A reement an� ppara ra hs �ar�d � hereof s all be a� lied b Lender
<br /> .Y � 9 P � pp Y
<br /> fir�t i� ayment �f am�unts a a�le to L,ent�er �o Borrt�vtirer und�r ara ra h � here�f seCond i�
<br /> p � Y Y p � p , r , � �
<br /> the order�Lender choases tc� an finance �har �s other �har es and coll t�o
<br /> � y , g ec n costs ow�ng, a nd
<br /> third ta the rinc� al bal�nce under the �r�dit� r�ement.
<br /> r
<br /> 4. Prio� Mart � es and []�ed� of Tr�stR��har es� Liens. B�rrower sh Il er�o m all of
<br /> � � p �r
<br /> �orra�nr�r"s obli ation g under any ma�t a e de�a� af tr�ust r�r other s�curit a reeimen� w�th a I�en
<br /> , � g � � � �
<br /> wl�ich has priarit �v�r th�s 5�cu�� instrument incl d�n Borrov�rer � r�
<br /> y �y r u g � �� � ants �� make
<br /> a n�ents wi�e� due. �x�e t tv th� ex�ent tMat an such cM�r es or im o�it�or�s are to be a�d �o
<br /> �ender under ara ra h �p Borrc�wer sh II � � � p
<br /> p� g p . , � pay ar cause �a be patd a�l �a�es, assessmer�ts and
<br /> vther charg�s, f�nes and �mpos�tiar�s attri�utabie to the Prt�perty which may attain a priority o��r
<br /> tM�s S��urNty lnstrument, and �easehold pa ments or grc�und �e�t�, i� an�. '�11lith�n fi�e da�s after
<br /> an demand � Lender �orrvwer s�rall ex�i��t to Lender rece� ts show�n that all a�nnour�ts d e
<br /> .
<br /> p � �
<br /> under this para�r�ph na�e b�en paid ►�vhen du�.
<br /> 5. H�zard �r��ur���e. Borrow�r shall k�ep th� �mpro�em�nts now eKNsting ❑r h�reafter
<br /> erected o�t t#�e Pr�p�r�y insured aga[n5t �ass �y f�re, hazards included within �h� ��rm "extend�d
<br /> co►�era e " floo�� and such vther hazards as �l.e�d�r ma �e u�re and in su�h amvunts and for
<br /> �uch erivd� as Lender ma re uire. Un�ess Lender in r�vr���n �re uir�s Qt#�erwise e oiic sha�l
<br /> p ]� q g q ► �� P �
<br /> provide insurar�c� an a repl�cement c�st �asis in an amvunt not l�ss than t�at �ecessary to
<br /> �omply with any� �c�insurar�ce percentage st�pulat�d �n �he hazard insurance policy, ar�d th�
<br /> amvunt �f co�era e sha�l b� nv less than the �1laxinraum Pr�nci al B��ar� e �us the f ll amou� af
<br /> g p c p u t
<br /> ar�y �ten w�i�h h�s priority orr�r this Se�urity Ins�rur�n�nt.
<br /> The �nsuranc� carr�er pro�id�ng the �r�surance �h�11 he chosen by Borr�ar�re� subject to appro�al
<br /> by L�nder; prv►r�ded, tha� suGh approWal shall nat �e unreasonably �v��hhe�d. A11 �r��ura�ce pal�cies
<br /> and renew�ls the�eof shall �� �r� a fvrm accep�abl� ta Lender and shall �nc��de a stand�rd
<br /> martga�e �lause in faWor of and ir� a f�rm a�ceptab�e ta Lender. Lender shail ha��t�� right ta hol�
<br /> the po��c�es �nd r�newals th�r�of: suhj�ct to�th� t�rms�a�F any Rm��tgage, d�ed of �rust �r �th�r
<br /> secur�ty agreement w��h a lien v►rh�ch has privr�ty arrer th�s Secur�ty lnstrum�nt.
<br /> In th� e�ent of l�vss, Bo�ra�rv�r sh��l give �rampt notice to th� �n�uranc� c�rrier an� Lender,
<br /> L��tder ma� make proaf of lass if n�t made pro�mpt�y b� ��rrov►►er, All insurance praceeds are
<br /> hereb� ass��ne� �� Lender and sha�l be paid t❑ Lende� �a the extent af all sum� secured by th�s
<br /> Secur�ty Ir�s�rurr�ent, subject to th� terms vf any ma�tgage, deed of trust or secu��t� agreernent
<br /> with a �ier� whi�h ha� �iorit or�er th�s Secur�t �nstrument. U�[�ss Lender ar�d Bc�r�rower
<br /> �therwyse a r�e in wri in p�nsurance �ace s ha1 � !ie r '
<br /> � � t �, p ed s [ be ap� d ta estore r�r r��a�r �he Property, �f
<br /> it is �conomi�ally feas�ble to da sa.
<br /> If the Pra��rty �s abandan�d by B��rvwer, or if �3orrower fails to respartd to L�nder within 3L�
<br /> days from the dat� natic� is ma�#ed by �,er�der ta Borro►rve�r th�t the �r�suranGe ��r�ier affers to
<br /> set�le a ��aim far insuranc� benefits, Lender is autharized to ca��ect and apply the insurance
<br /> �roc�eds at Lende�'s opt�on e�th�r �o restorat�on ar repair of the Property or to the sum� se�ured
<br /> thi� Securit lns�rument.
<br /> Y Y
<br /> EN��9�-�
<br />
|