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<br /> lF���FOttM Coy��sAtiTS. 8orrower and Lender covenant and agrce as folbvirs: �' �
<br /> l. Pa�rdeet oi Pr(neipal a�d I�tera�Prepaymteet and Lte C6arges. 8cirtnw�er shall promptty paa�,whGn due .
<br /> " the principal of ar:d inttrtst on the dtbt evidenced by the Note and any prepayment and tute sharges due uttder Ehe Atnt�:. , : .
<br /> �. Fusds for Tua�d Insuranca Sub�xs ta applisubde law or to a�vritten waiver by Lendc:r.Bars�rwer sb:►!1 pa!►
<br /> � to Lender an the d�y monthly Raymenu are dut uncter the Note.unti!the Note is paid in full,a sum C'�und�:'}equnl ta ,
<br /> ane-twolfth of: (aJ�yearly tsaxes and auessrnents which may attain priority over this S�urity Instra�ment; (b) y�e;�rii�.
<br /> teas�ehold paymtnts or gtound rents on the Property. if any; (c) yearly hazard insurance prerniums; and tr�I� ��pg�'
<br /> m��ge irsurance premiums,if any.Thae items are calted"escrow items." Lender may essEmfltc:diE Fund.dne An ghe �
<br /> basis ofcurrent daia aad reasonable estimates of future escraw items.
<br /> The Funds sha11 ba heId ia an institulion the degosics or accounts of which are insured or gunranteed b��a f:d�t or
<br /> st�te agency(inztudiag Lacder if Lender is such an institutian). Lender shall appty thc Funds ta pa?l the�ra;y.stems.
<br /> , Lender miy aot charge far holding and applying the Funds,analyzing the accflur�t or verifyin�thc escrow iic�tbs, i�nless
<br /> Lu�der pay�Borrower interat on the Funds and applicable law permits I.tnder ru make such a char,��f3osyncver arid
<br /> I.tsder rruy agre=in vfrriting that inurest shall 6e paid on the Funds. Unless an agteement is mAde ar app3icutsle 1aw
<br /> r�uira interest to be paid,Lender sha11 no1 bc rtquired to pay Borrower any interest ar eard►ings on tHc Funtt��nder
<br /> , � shzlt give to Borrower.without charge,an annual accounting of the Funds showing credits and de6its ta t�tc Funda;and the
<br /> ' purpase for which eacb debit to the Funds was made.The Funds are pledged as additiona!secur"r.ty fat2be samF�scssur�d by
<br /> thisSocurity Instrument. '
<br /> If the amaunt of the Funds held by Lender.tngether with the future monthly payments af Fands payabte priar to
<br /> � tht due dates of the escrow items,sha11 ex�ecd the amount required to pay the eserow items when due,t►��excess shal!be,
<br /> � at Borsower's oprion,either promptly repaid to Borrower or credited to Borrouer on montP�l J poym�tts of Funds.�f thc
<br /> ; amount af the Funds hsid by I.ender is nat sufficient to pay the escrow items when dne,Bar�owcr.��ipil�gay.to I.ender any
<br /> ar►munt nxessary to maice up the defieiency ia one ar mnre paymtnts as required bg Lend�r.
<br /> Upon paymcnt in ful�of all sums secured by this Security Ins4rument.Lendcr shall pm�nptly,sefund to Borrower
<br /> ' any Funds held by Lender.If under paragraph 19 the Pruperty is satd or acquired by Lender,lCrndt�r.�finll apply.'no later
<br /> , than immediatefy priar tn the sale oE the Property or its acquisition by Lendcr,anv FundJ he�d.bi��L•e�tder at the tirme of
<br /> E app9ication as a credit against the sums secured by this Security Instrumeni. ::.
<br /> � 3. Aqpl�catian of Psyments. Unless applicabte!aw p*ovides otherwi��e,all pz���mants teceived by Lender under
<br /> , paragraphs d and 2 shall be applied:first,ta late charges due undet the 2�Int�;second.to prepayment charges due unaer the
<br /> � Notr,third,to amounts payable under paragraph 2;fourth,to inter+�t due;and lu5t.to principal due.
<br /> , 4 Chargea;Liens. Borrower shall pay all taxes.a�essme�t�,ch�rIIes,fines and impasitions attributable to the
<br /> � Property which may attain priority.over this Sesurety Instrument, and l�.�cbdld�payments ar ground rents, if any. �
<br /> Banower sliall pay these obtigatian�in the manner providc�d in pasragrnph�2;or;�f nat paid in that manner,Borrower shall .
<br /> pay theraa�teme directly to tha persc►n ow+ed paymcnt.BorrowsT sh�tll'pmmptly fumish tb Lender all noiices af amounts
<br /> ' to be p�i.d under this pas'agraph. If Barrawur malttes these payme�tt•diri�tly. Borcnwer shall promptly furnish to Ixnder , .
<br /> i receip�,�videncing the p�yments.
<br /> ! IIerr�wer shaU pr+omptly discharge any lien which h�,c p�iority over this Security Instrument unless Borrower:(a) ._-
<br /> i agras in+XCiting to the payment af the obligntion secured bs�ihr lien in a manner acceptable to Lender;(b)contests in goad =
<br /> � faith the licn by,or defends against enforcement.of the lien�in,leg,al praceedings which in the ixnder's apinion operate to ` ,�
<br /> � prevent the enforcement of ihe lien or forfcitutr.ot�pny part of the Praperty;or(c)secures from the holder of the lien an ,:s
<br /> � agreement satisfactory to Lender subordinatin�2lta lien to this Securit+1.Jnstrument. IP Lender determines that any part of
<br /> � the Property is subject to u lien whicb may attuin priority over this Security Instrument, I.ender may give Borrawer a
<br /> � notice idcntifying th�lien.Bottower shal!saiisfy the lien or tnke one or more of the actions set forth abave within 10 days
<br /> � .
<br /> i of the giving of natice. •
<br /> � 5. H�zard Insurance. Barrnwer shAll keep the improvements now eaisting or hereaPter erected on the Property .
<br /> ; insured against loss by 6re,hazar�s ineluded witirin the term"extended caverage"and any other h:�ar�s for which Lender .:—
<br /> ` requires insurance. This insurancP�hall be mzittf:�r.r�e� in the amounts and for the periads that Lender requires.The '"
<br /> � inst�rac�cc c:a:rrior providing the insurnnee shall be ci�nsen by Borrower subjeet to Lez�der's approval whieh shall not be
<br /> ` unrc�.�:r,�:��:�+withheld. �,
<br /> � Aiif insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br /> Lender shal!have the right to hold the palicies azr�renewals.If Lender requires,Borrower shall pramptly give to Lcnder ,
<br /> . all receipts of'paid premiums and renewal rt�tice;..ti:�the event of'toss.Borrower shal!give prompt notice to tl:�:cnsurarsce '•
<br /> . carrier ottd�iender.I.ender may makc proof of Gs.z T.Eruzt n�akt�:promptly by Borrower. `�'�f
<br /> EJiilt�s Lendcr and Borrowec��±herwisear c,�:;i�z swntii�g,insurance proceeds shull.��e applied to restoratsa;t�.s rep�ir ;��;:
<br /> ' of the Pro�e�ty damaged,if the res:�ration or r.�:�v�.s:is economically feasible and L.ea�i�cr's security is n�t lessertecl. IP tf:e
<br /> ' restorat�a�or repair is not cconomically fea.siUL:ur Lender's security wauld be l�sser,ed,thc insurance procceds shall bc �
<br /> applied ta the sums secured by this Security titarument,wheiher or not then due.with any excess paid to Borrower. If . �.
<br /> � Borrou�;3l�endons the Property,o�does na�a�zswer within 30 doys a notice f'rom Le�der that the insurance cnrcier has
<br /> � otYered tr��tte a claim,then L.end.�c_nay c�llect the insuran�e proceeds.Lender mtt}•us�the praceeds to repai���a�restore
<br /> the Pro�:Tti:or to pay sums securc� by this Se�urity Instrum��t,whether oc nat then due.The 30•day period S:Fill.►;�:�in
<br /> when therat;ce cs,�i+�cN�:.
<br /> 4.rrtl�ss�.c'r;der:l�.�.Borrower otherwise a�ree in writin�,.any appl.i�:;�tion af prnceeds to prin:�:ipal shall npt ext:r�d cr
<br /> postponc;tht.due date af the manthly payme�ts referred to in��.ragrap.s!and 2 or chhnge the attti��unz of the p.ayrncnts.IC
<br /> � under{;as,;.;�raph 14 the Property is acquired by Lender.Barccwer's right to any insurance paliciw�n��rcsrt+ad;�cesulting
<br /> from damage to the Property prior�a the acquisition sha11 pass to Lender to ihe extent of the sums s�:�.:��4�,�nts Security �
<br /> insttument immediately prior to t�.acyuisition. � ,
<br /> ' 6. Preservattoa and Maintersance ot F'ns�terfy;Leaseholds. f3orrower shali not destroy,damage or substantially
<br /> change the property. allow the Pra�erty to deieriorate or commit waste. lf�his Security Instrument is on a leasebold.
<br /> Borrower shall comply with�he prcy isions of thc lease.and if 8arrow•er acyuires fee title to the Property.the leasehold and . -----=
<br /> fee title shallttnt merge unles.�Lender agrees to the merger in writing. .
<br /> ', � 7. Protection ot Lender's Rights in the Property; Mortgage lnsurance. IP f3orrower fails to perfnrm the
<br /> r,ovenants and ag�eernents contained in this Sa:vrity lnstrument,or there is a legal proceeding thaq may significantly affcet� ,
<br /> Lendlr's rights in the Properry (such as a proceeding in bankruptcy.probate. fnr cor�de,r�n.ati�;s s or ro e^fi>tce laws �i�. ,
<br /> reguFat�onsl,l�Efi L,�n�Er may do and pay foc a�fiarever is necessary ia protect the v-alve�c r.m_i�;.r�rty and�i.�n.rt'�r'�:rigi��, ; �
<br /> in the Properry. l.ender's actinns may include paying any sums secured by a lien �vnicFj has priority nver t:�s Security
<br /> � Instrument.appearing in court,paying teasc�nable�ttumeys fees and enteting on the property to make repairs. Alth��ugh
<br /> Lcnder m�y takr gctit�n undcr this paragraph 7.Lender does not have tn da so. .
<br /> Any amnunis disbursed by Ut�ttdrr urtder this paragraph 7 shSU became additinnal debt nf i�nrrawer secured by Ihis
<br /> _ Secunly Mstrument.tJnlcss H��rr��wcrand I.ender agree to other term�oi'payment,thesc amnuntti sh�ll bear intcrrs�f'rc�m ��p
<br /> the�iate��f'clisbuvsement at Ihe Ne�te rate attd !:hal) be pt�yablp. LY11I1 It11CFCS1. upnn n��tice fr��m t.ender tu I3urrot�er �!3
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