|
__
<br /> ,__�
<br /> �,
<br /> � �
<br /> -
<br /> -- _ yQ--� 1�����
<br /> UNig'oRtN Cov��t�TS. Borrawer and Lender covennnt and agrec as follows:
<br /> � l. Pa�y�nent o!Prlacipal and Interat;Prepsyment�d I.ate C�uQes. Barrower shall promptly pay v,�hen due
<br /> the principal of and in'�t`erest on the debt evidenced by the 1Vote and any prepayment and late charges due under the Note.
<br /> = Fns:3;fs:Y QwF1�1Y I���:raa:2. �uaj�..to�N�li�6fe law ur to a writton waiver by Lender.Hotrower shalf pay
<br /> to Lender on the day monthly payments are dur.under the Note,until the Nate is paid in full,a sum('•Funds"?equal to
<br /> onr-twdRh ofi (a).yearly taxzs and assessments which may attain priority over this Security Instrument; (b) yearly
<br /> leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> � mortgage insurance premiums,if any.These items are calfed "escrow items."Lender may estimate the Funds due on the �
<br /> basis aPcurrent dua and reasonable estimates of tl�ture escrow items.
<br /> The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br /> � state agency(including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br /> I.ender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items,unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits i.ender to make such a charge.Horrower and
<br /> Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> . requires interest ta be paid, I.ender shall not be required to pay Bonower any interest or carnings on the Funds. Lender
<br /> sha11 give to Borrower.without charge,an annual accounting of the Funds showing credits and debits to the Funds snd the
<br /> pwpose for which each debit to tha Funds was made.The Fands are pledged as additional security for the sums secured by
<br /> this Security Instrument.
<br /> If the amount of thc Funds held by Lender.together with thc future monthly payments of Fands payable prior to
<br /> the due dates of the escrow items,shall eacad the amount required to pay the escrow items when due,the eacess shall be,
<br /> st Borrower's option.either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds.lf the
<br /> � unount of tbe Funds held by Lender is not sufticient to pay the escrow items when due,Borrower shall pay to Lender any
<br /> amount necessary to make up the deficiency in ane or more payments as requirod by Lender.
<br /> Upon payment in full of al1 sums secured by this Security Instrument.L.ender shall promptly refund to Horrower
<br /> any Funds held by Lender.If nnder paragraph 19 the Property is sold or acquired by Lender,Lender shall apply.no later
<br /> than immediately prior to the sale of'the Property or its acquisition by Lender,any Funds held by Lender at the time of
<br /> applicstion as a credit sgainst the sums secured by this Security Tnstrument.
<br /> � 3. Appli�atton o!Paymeab. Unless applicable law provides otherwise,all payments received by Lender under
<br /> pangnphs 1 and 2 shall be applied:first,to late charges due under the Natc;second.to prepayment charges due under the
<br /> � Notr,third,to amounts payable under paragraph 2;fonrth.to interest due;and last�to principal due. �
<br /> , 4• Chargt�Liens. Borrower shall pay all taaes� assessments,charges.fines and impositions attributuble to the
<br /> Property which may attain priority,over this Security Instrument, and leasehold paymenu or ground rents, if any.
<br /> � �'M�'='�°�'`°�� w�N w:.:,�::eS:i;G,-,�j,-a i ic a;,;u.ncr provinoo in paragrapn i.or iY not paid in that manner.lf0170W�T 5�1811 —
<br /> � pay them on time directly to the person owed payment.Bonower shall promptly fumish to Lender all notices of amounts ' ,� .
<br /> to be paid tiadcr this paragraph. If Bonower makes these payments directly,Borrower shall promptly furnish to l.�nder
<br /> raceipts evidmcing the payments. -
<br /> Horrower sha11 promptly discharge any lien which has priority over this Sceurity Instrument unless Horrower:(a) _�
<br /> sgras in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good -
<br /> fiith the lirn by.or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to �
<br /> prevent the enforcement of thc lirn or forfeiture of any part of the Property;or(c)secures from the holder of the lien an '��.-
<br /> agrament satisfictory to Lender subordinuting the lien to this Security Instrument.If Lender determines that any part of ?
<br /> the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Batrower a
<br /> notice identifying the lien.Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days �
<br /> of the giving of notice.
<br /> 5• Harard Insuraace. Bonower shall kerp the improvements now existing or hereafter erected on the Property t =�
<br /> insurod against loss by firq hazards included arithin the term"extendtd coverage"and any other hazards far which Lender � `: �
<br /> roquires insurance. This insurance shall be maintainod in the amoanu and for the periods that Lender requires. The �r*
<br /> insurance carrier providing the insurana shall be chosen by Borrower subjxt to Lender's approval which shall not be
<br /> unrasonably withheld. `:�: .
<br /> AU insurance policies and rcnewals shall be acceptable to Lender and shall include a standard mongage clause.
<br /> Lender shall have the ri�ht to hold the policies and renewals.If I.ender requires,Bonower shall promptly give to Lender
<br /> all reeeipts of paid premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance "
<br /> carrier nnd Lender.Lender may make proof of loss if not made promptly by Borrower.
<br /> Unless Lender and Honowtr otherwise agra in writing,insurance proceods shall be applied to restoration or rcpair
<br /> of th�Property c�amaged,if the restoration or repair is oconomically feasible and Lender's security is not lessened.If the
<br /> restontion or repair is not economically feasible or Lender's security would be less�nod.the insurance proceeds shall be
<br /> applied to the sums secared by this Sacurity Instr�ment,whether or not then due.with any excess paid to Bonower. If
<br /> Borrower abandons the Property,or does not answer within 30 days a notice from Lendcr that the insurance carrier has
<br /> offera!to settle a claim,then Lender may collect the insurance proceeds.Lender may use the proceeds to ropair or restore
<br /> the Property or to pay sums socured by this Security Instrument, whether or not then due.The 30-day perierl will begin
<br /> when the notice is given.
<br /> Unless Lenaler and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under puagraph 19 the Property is acquired by Lender.Borrower's right to any insurance policies and prceeeds resulting
<br /> ` from damage to the Propeny prior to the acquisition shall pass to I.ender to the extent of the sums secured by this Security ,--__ _-_, -
<br /> Instnimrnt immediately prior to ths acquisition.
<br /> 6. Preserrstion and Malntenance o!Proper�;Leaseholds. Borrower shall not destroy.damage or substantially
<br /> change the Property. allow the Property to deteriorate or cummit waste. If this Security Instrument is on a leasehold.
<br /> Borrower shall comply with the provisions of the lease,and if Borrawer acquires fee title to the Property,thc leasehald and
<br /> fet tiile shall not merge unless Le�der agrees to the merger in writing.
<br /> 7. Protection ot Lender•s Rlghts in the Praperty; Mortg�ge Inaurance. If Borrower fails to perform the .�
<br /> � eovensnts and agreements contained in this 5eeurity lnstrument,or there is a legal proeeeding that may significantfy affect
<br /> Letsder's rights in thc Property (such as a proceeding in bankruptcy, probate, for condemnation or to enfnrce laws or �t
<br /> regulations),then Lender may do and pay for whatever is necessary to protect the value of thr Property and Lender's nghts '�t
<br /> in the Property. Lender's act�ons may include paying any sums secured by a I�en which has pnority o�er�his Secunty �j�
<br /> i instrumtnt,appearing in cuurt,pay�ng reasonable attorneys'fees and entenng�n the Proper�y�o make repairs Alrhough ���
<br /> _ _ Lender may take action under tMs paragraph 7,Lender does not have tu do so
<br /> r Any amaunts disbursed by Lender undu th�s paragraph 7 shall become addit�onal deM c�f Hor r�wer cecured by this ,.
<br /> tr ''.,ecuruy Instroment Unless Borrower and I.ender agree to ather terms of payment,tfieae amouniti�hall hear interest from
<br /> �l�'� the date of disbursement at the Natc r�tc and shall tx payable. with intereti�, u�xm nut�rc frnm {eniirr t�� Hurr��wcr
<br /> �Rt��` requEStmg payment
<br /> ���,',
<br /> ��,,�..�;
<br /> � �.,a,, .�
<br /> }�.i� �
<br /> �;��, �
<br /> �� .:
<br /> ��+,•`;.
<br /> ,�.
<br />
|