|
�.-�-� �
<br /> ��
<br /> I �
<br /> I �
<br /> tfN11�0ltM COYL'NAN7'S.Hurruwer a�d I.ender roven:�nt a�d a�;cer as fuUu�vs: 90"� ��0�Q 2
<br /> 1.P�ym��t of Principal and lnte�est;Prepayment a�d I.ate Charges.Hur�ower shall prumptly pay�when due�he
<br /> prinripal��f and inrerest un the debt evidenced by the Nutc and any prepaymenc.ind latechar�es due undrr the Nutc.
<br /> 7.Fund�far Taxes and lnsurance.Subjec�u�applirable law ur co a wricte�waiver by l.ender,Burruwer shaU pay co
<br /> � Lender an the d�y muotlily paymrncs a�e due under the Nute,until the Nute is paid in full, a sum ("Funds") equal to
<br /> one•twelichuf:(a a yra�ty taxes anct assessmencs which may attai�priurity uvrr this Sea�rity lnstrument;tb)yearly leasehold
<br /> payments orKruund re�ca on ehe P�operty,if a�y;�c)yearly hazard insur�nce premiums;and ld)yearly murcgage i�surance
<br /> premiums,if any.These items are called"escn�w items."Lender may estimate�h�F��nrls d�se rn the bssis uf rurrent claca aad
<br /> reasunable es�imaces af future escruw icems. -
<br /> The Funds shall be hetd i�an iostitucion nc�dcpasits ur accuunts uf which are insured or guaranteed by a federal or
<br /> stace age�cy(inrluding Lender if Lender is such an iasti�ucion>.Lender shall apply ehe Fu�ds[u pay che escrow icems.Lender
<br /> may not charge for hoiding and applying the Funds,analyziag the accuunc or verifying the escrow icems,unless Lender pays
<br /> Borrower interest on thr Fuads and applicable law permits Lender ca make such a chnrge.Barrower a�d Leader may agree in
<br /> writing chat i�terest shall be paid un the Funds.Unless an agreement is made or app)icable law requires interesc to be paid,
<br /> I.endec shall not be required ia pay Borrower any interest or earnings an the Funds.Lender shall give to Borroaer,withaut
<br /> charge,a�an�ual acmunting of che Funds shawing credits a�d debits to che Fu�ds and the purpose for which each debi�co che
<br /> Funds was made.The Funds are pledged as addicional securiry for the sums secured by chis Securiry lastrument.
<br /> If the amount of the Funds held by Lender,together with che future monchly payments of Funds payable prior t�che
<br /> due daces of the esctow items,shall exceed[he amounr required to pay the escrow icems when due,the excess shall be,ac
<br /> Borrawer's optian,either prompdy repaid to Borrower or crediced to Borrower on monthly payme�cs vf Funds. If che
<br /> amonnt of the Funds held by Lender is not sufficient to pay the escrow items when due,Horrower shall pay to Lender any
<br /> amounc necessary ca make up the deficiency in one or more paymencs as required by Lender.
<br /> Upon paymene in full af all sums secured by chis Security Inscrument,Lender shall prompcly refund to Horrower any
<br /> ! Funds held by Lender.lf uader paragraph 19 che Property is sold or aequired by Lender,Lender shall apply,no lacer tha�
<br /> � immediately prior co che sale of the Property ar its acquisition by Lender.any Funds held by Lender ac the timeof applicacion
<br /> as a credic against the sums secured by this Security Inscrument.
<br /> 3.Application of Payments. Unless applicable law provides otherwise,all payments received by Lender under
<br /> paragraphs 1 and 2 shall be applied:first,to late charges due under the Note;second,to prepayment charges due under the
<br /> Note;third,to amaunts payable under paragraph 2;fourth,co interesc due;and lasc,co principal due.
<br /> �i. Chtrges; Liens. Borrower shal) pay all caxes,assessments,charges, fines and impositions attribucable co the
<br /> � Property which may a�tai�prioricy over this Security]nstrumenc,and leasehold paymencs orground rents,if any.Borrower
<br /> � shalt pay chese obligations in the manner provided in paragraph 2,or if not paid in thac manner,Borrower shal!pay chem on
<br /> cime direcdy to the person oaed payment.Borrower shall promptly furnish c�Lender al)notices of amounts to be paid under �
<br /> chis paragraph.If Horrower makes chese payments directly,Barrower shall promptly furnish co Lender receipts evidencing ` '
<br /> the payments. . .
<br /> � Borroaer shall promptly discharge any lien which has priority over this Security]nstrument unless Borrower: (a) �
<br /> agrees in writing co the payment af the oblieacion secured hy che lien in a m?nnP�a��.•rlAhla s�t A�;��;���;��nt��:�:n g:.�3 � -''
<br /> faith the lien by,or defends agsins:enfarcemenc of the lien in,legal pruceedings which i�che Lender's opinion operate co �
<br /> prevent the enforcemem of the lien or forfeicure of any part of the Property;or�c)secures from rhe holder of the lien an '
<br /> . agrcement satisfac[ory co Leader subordinating che lien co this Securicy l�s[rumenc.If Lender determines that any part of[he � —
<br /> . Propercy is subject tu a tien which may accain priuriry over chis Securicy Inscrumen[.Lender may give Horrower a notice —
<br /> � idencifying che lien.Borrower sha11 satisfy che lien or take one or more of che accions set forch above wi[hin 10 days of che �
<br /> � giving of notice. _
<br /> ; S. Hszsrd ltssurance. Borrower shall keep che improvements now existing or hereafrer erected on the Property —
<br /> ' insured against loss by fire,hazards included within che cerm"extended coverage"and any o�her hazards for which Lender
<br /> ' requires insurance. This insurance shall be maintained in che amounts and for che periods chat I.ender requires. 1"he
<br /> insurance carrier providing the insurance shaU be chosen by Borrower subjecr to Lender's approval which shall nor be
<br /> unrcasonably wichheld. f
<br /> AU insurance policies and renewals shall be accepcabte to I.ender and shall include a scandard mortgage dause.Lender �
<br /> ;•
<br /> shall have the right to hold the policies and renewals.If Lender requires.Borrower shall promptly give to Lender all receipts
<br /> of paid premiums and renewal noeices.In[he evenc of loss,Borrower shaU give prompc norice c�che insurance carrier aad
<br /> Lender.Lender may make proof of loss if not made promptly by Borrower. �
<br /> Unless Lendec and Borrower otherwise agree in writing,insurance prcxeeds shall be applied co restoration or repair �
<br /> of the Property damaged,if[he rescoracion or repair is economically feasible and Lender's securicy is not lessened. If the �'�i
<br /> restoration or repair is not economicnlly feasible or Lender's security would be lessened,rhe insurance proceeds shall be '
<br /> • applied co the sums secured by this Seeurity ]ns[rumeni,whecher or no� chen due,with any excess paid to Borrawer. If ' �
<br /> Borro�ves abandons the Propercy,or does not answer within 30 days a nocice from Lender chat the insurance carrier has
<br /> . ofEered ro sezcle a claim,chen Lender may collece che insarance proceeds.Lender may use che proceeds to repair or restore the
<br /> Propetty or to pay sums secured by this Secvrity lnstrument,ahether or not then due.The 30-day peric�d will begin when the
<br /> � notice is given.
<br /> : Unless Lender and Borrower otherwise agree in writing,any application��f pr�eeds to principa!shai!noc extend or
<br /> postpone the due date of the monchiy payments referred ro in paragraphs 1 and 2 or change the amount of the paymencs.If
<br /> � under paragraph 19 the Property is acquired by Lender, Borrower's cig6t tu any insurance policies and proceeds resulting
<br /> ' from damage to the Propercy prior co the acquisition shall pass to Lender to the excenc of che sums secured by this Security
<br /> j Instrument immediately prior co the acquisirion.
<br /> 6. I'reservation and Maintenance of Propeny; Le�seholds. Horrower shall noc descroy,damage�r subscancially
<br /> change che Property,allow rhe Propercy eo deteriorare or commit waste. If this Security lnstrument is on a leasehold,
<br /> Borrower shall comply with the provisions of the lease,and if Horrower acquires fee citle to the Property,the leasehvld and
<br /> _ fee title shall not merge unless Lender agrees ro che merger in wricing. '---- -`
<br /> 7.Protection of I.ender's Rights in the Property;Moagage lnsurance.If Borrower fails co perform the covenanrs
<br /> and agreements coneained in this Security Instrument,or chere is a legai proceeding cha[may significancly affect Lender's '
<br /> rights in the Property(such as a proceeding in bankruptty,prubace,for condemnatiun or w enforce laws or regulations),then
<br /> I.ender may do and pay for whacever is necessary co protect the value of the Properry and Lender's rights in the Property.
<br /> - Lender's attions may indude paying any sums secured by a lien which has priority over this Securiey Inscrument,appearing in
<br /> court,paying reasunable atcorneys' fees and entering on che Pruperty tu make repairs. AlchouKh Lender may take action �
<br /> Iunder this paragraph 7, Lender dc�es noc have t�do s�. I �
<br /> Any amaut�ts disbutsed by Lender under this paragraph 7 shall becume ad�iitiunal debt uf Borrower securrd by chis �
<br /> - Security insrrument. Unless l�urrower and l.ender agree co other rerms vf paymenc,chrse amuunts shall bear interest frum t�
<br /> - the da[e of disbursemenr ac rhe N�►ce rate and shall be payable,with incrresc,upin nut�ce kom I.rndcr t��H��rruwrr rryuest�n}; �,��
<br /> _. payment. .�
<br /> , �4.
<br /> }-f �J
<br />�•f�
<br />/F.1t
<br /> ll}"
<br /> t+l t �
<br />��'l
<br /> .�
<br /> '
<br />
|