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<br /> � 90-�-�.p 2316 �
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<br /> ( UNIFO[tMCoVlNANYS Borrpweranci I:endr.rco��ennnt and t�grrc us fnllc��cr:
<br /> l. P�ymeet of Q'rincipt!and leterest; P�ep�yn�ent ond l.�te Charge9. B��rrc��•er shall pr��mp�ly pay N•hesi dur
<br /> the pnncipa)of and�ntcrest on Ihe dcbt evidenced by thc N��te�nc1 aiiy prep;���ment And late cha�ge�duc undcr t he Notc.
<br /> 2. Fund�for T�xa and In�urance. Subject ta applicable Inw or to a w��iurn w�ai�er by�Lender,�orroH•rr�h�ill pa�•
<br /> � to Lcnder on thc day rnonthly paymcnts Are duc under Ihc Nate,untii thc Note is paid in full, a sum("Funcl�')cyunl tu
<br /> ons-tN�lfth of: (A) vearlv taxes and asscssments whiGh may aUain pri�rity o►�er thes Security Instrument: !n1 yearly
<br /> leauhold payments ar graund rents on the Prapert}•, if ctny; (c) yearly hazacd ia�u�ancr premiums; and (d) ycarly
<br /> mortgsge insurance ptemiums.if any.These iten�+arr culted"rscrow itcros."Lender may estimate the Funds due�n the
<br /> basis oEcurrent data and rasonable estimates of futurc escrow items.
<br /> 7he Funcis shxll be held in an institutian thc deposits or a�counts of which Are in�urecl��r guarAnteed by a federal or
<br /> state sgency(including I.ender if Lender is such an institution). Lcnder shall apply the Funds to pay the esrraw items.
<br /> l.sndec may�ot eharge for hotding and applying the�unds,analyxing �he nccaunt or verifying the escrow items,unle�.c
<br /> Lender pays Barrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower und
<br /> Lrnder m�y Agre� in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> requires interest to be paid. I.�nder shall not be required ta pay Borrower uny interest or earnings on the Funds. Lender
<br /> shall give to Aonower,without charge,an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> purposr for which each debit ta the Funds was made.The Funds are pledged as additiona!security for the sums secured by
<br /> ' this Security lnstrumenl.
<br /> If the amount of the Funds held by l.ender.together with the iliture monthly payments of Funds payable prior to
<br /> the due dates of the escraw items.sha11 exceed the amount required to pay the escrow items when due,the excess shall be,
<br /> at Borrower's option.eilher promptly repaid to Borrower or credited to Borrower on monthly payments oP Funds.if the
<br /> s�mount oPthe Funds held by Lender is not sufficient to pay the escrow items when due, Horrower shall pay to Lender any
<br /> amount necessary to make up the deficiency in one or morc payments as required by Lender.
<br /> Upon payment i�full of all sums secured by this Security lnstrument. Lender shal)promptly rafund to Bcirrowrr
<br /> , any Funds held by L.ender.If under paragraph 19 the Property is wld or acquired by Lender.Lender shal)apply,no Iater
<br /> than immediately prior to the sate aP the Property or its acquisition by Lender. any Funds held by Lender at the time of
<br /> � application as a credit against the sums securod by this Security lnstrument.
<br /> 3. AppliqNon of Paymenb. Unless applicable law provides otherwise,all payments received by Lender under
<br /> . paragraphs 1 and 2 sha0 be�ppl�ed:first.to late charges due under the Notc;sei:ond,to prepayment charges due under the
<br /> Noie;third.to amounts payabte under paragraph 2;fbunh,to interest due;and last.to principa)due.
<br /> 4. Charge3; Liens. Borrowcr shal)pay al) taxes, assessments, charges, fines and impositians attributable to the
<br /> Property which may attain prioritg,vver this Security I�strument, and leasehold p�S•ments or g�onnd rents, if any. �
<br /> Bcirrower shall pay these obligations in thc manner pravided in paragraph 2,or if nat p�.cd in that manner.Banawer sha11 �
<br /> pay them on time directly to the person owed pa}ment. Bonower shall promptly furnish ta Lender all notices af amounts
<br /> to be paid under this patagraph.If Bonower makes these pay-ments directic,Borrower shall prompcL}•furnish to Lender
<br /> receipts evidencing the payments. . '
<br /> £orrawer sh�lZ pramptl;�i��h�rne any litst Which has�ri�rity oY�r thrs Seettrit; !nstruzn.nt�atess E�rro�ver:(a? '__ _
<br /> agroes in writing to the payment of the obligacion secured by the lien in a manner acceptable to Lender;(b)contests in good
<br /> -- - _ fsiib the lien hy.nr d�fen�ic aoaipct w�fnr�vsn�:QF:i��:S�r���:`�p=Y=���ic�S::;iCi�i,-,iSi�Lc-�au'cr i vpinivn aperate to - -
<br /> grevent the enforc�menr of the iien or forfeiture of any part of the Yroperty;or(c)secures from the E�older of the lien an
<br /> agrament satisfactory to Lender subordinating the lien to this Security Instrument.!f Lender determines that s�ny part of �- +
<br /> - the FropenX is subject to a lien which may attain priority a�•er this Security lnstrur,.:e�,t, Lender may give Borr�wer a � -
<br /> notice identi€}ing the lien. Borrower shall satis!'y the lien or take ane or more of the arcic�s set forth above within 10 days
<br /> f of the giving of notice. �—
<br /> : S- Haurd Insuru�ce. Borrower shall keep the impro.emcnts�cuN•existing or hereafter er�cted on the P�operty {
<br /> . insnred against loss by fire,hazards includod within the term"extended co�ecage"and any other hazards for which Ixnder
<br /> requires insurance. This insurance shall be maintained in the amounts and for the periads that Lender requires. The
<br /> , insurance ciimer providing the insurance shall be chosen by 9orrower subject to Lender's approval which shall not be '
<br /> unreasonably withheld.
<br /> ' All insurance policies and renewals shall.be acceptable to Lender and shull include a standard mongage clause.
<br /> . Sxnder shall have the right to hold the policies and renewals. Ii Lender requires, Borrower shall promptly give to I.ender
<br /> al)receipts of paid pretniums and reaewal nolices.�n the everet e�f Ioss.Borrower shaU g��e prompt notice to the insurance - .�.
<br /> carrier and Txndet.Lender may make proof of loss if not made�romptly by 8orrower.
<br /> • Uniess Lender and Borrower otherwise agree in writing,�nsurance prcxeeds shall be applied to restoration or repair
<br /> of the Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br /> restoration os repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br /> applied to the sums secured by this Security Instrument.whether or not then due. with uny excess paid to Bonower. lf
<br /> Bonower abandons the Propeny,or does not answer within 30 days a notice Prom Lender that the insurance carrier has
<br /> � o�ffered to sectle a claim,then I,ender may collect the insurance proceeds.Lender may use the proceeds to repair or restore
<br /> � tht Property or to pav sums secured by this Security Instrument, whether or not then due.The 30-day period v�ill begin
<br /> : when the notice is given.
<br /> Unless Lender and 8orrower otherwise agree in writing,any application oP proceeds to principal shaU not extend or
<br /> postponc the due date of the monthYa p�yments relerred ta in Fs=sgsaphs Z and 2 ar ehang�the amannt of ihe pa��ntrnts.if
<br /> under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the ar.quisiteon shall pass to Lender ta the exten�of t he sums cecured hy this Security
<br /> ' lnstrument immcdiately prior to the acquisitio�e.
<br /> 6. Preservation and Maintenance af Praperty;Leaseholds. Sorrower�hall not destroy,damage or substantially
<br /> ehange the Property, allow the Pccng�rtry to deteriorate or commit waste. If this Security Instrument is on a leasehold, ---_--
<br /> Borrower shall comply with the pro�os;ons of the lease,and if Borrower acyuires fee title to the Yraperty.the lea�ehold and �
<br /> fce title cha0 not merge unless Lender agrees ta the merger in writing.
<br /> 7. Protectloe at Lender's Rights in the Property; lfortq�ge Insurance. If �orrowcr fails to perform thc
<br /> covenantsand agreememtscontained in this Security Instrument,or there��a legal proceeei�ng thac may stgnificantly affect �
<br /> Lender's rights in the Property (s�z�h as a pruceeding �n bankruptcy, prc�b�tc, for c�r.3emnation or to enforce laws nr
<br /> regulaYians},then Lender may do acc4 pay for a•hate��er�s necessary to protctit the�alue of t k:e Property and Lender'�ri�h�ti �
<br /> in the Property. Lender's actions may mclude paymg anp�sums secureci b? a lien w�huh has pric�r�ty cner thtti Securuy �
<br /> � lnstrument,ap�earing in court,pay�rig reaaona�4e attornc�•s'fecs and entering c�n the Property to r.:aKe re�a�rs �Ith��ugh
<br /> Lender may takd:action undcr this pr�ragraph'.�eader dot�s not ha�e to dn tio �
<br /> Anyamountsdisburced by Lender under th�s p�ragraph 7 shall t+ecc�me add�tu,n.,l uebt c�f B�rro�er tiecure�hy th�ti r''
<br /> S�ecurily instrumrnt.linlesc Rorroa�etanA Lendera ree toother term�c•f �m,
<br /> R r:+�ment,theteamnun�.�hall hcar int4re�t frc�m jjn�
<br /> the date of d�sburscment at the Nntc rate and �hall be payehle. v�rth inrcrc-+t, u�vn n��t�rc frnm 1 rnder rc� R��rr��«rr • i�'t
<br /> rec�ucstmg payment.
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