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<br />89-- 101615
<br />UNllat WN Cavt?NAN S Borrower and Lender covenant and agree as follows:
<br />1. Fsyateat dtf PIke*d sad latams4 Prtpyateat sad Late ClarvL Borrower shall promptly pay when due
<br />the principal cf and interest on the debravidenced by the Note and any prepayment and late charges due under the Note.
<br />2. i'wrNG►IFer Iuaaatsi Iaaaeatiet:: Subject to applicable law or toa written waiver by Lender. Borrowershall pay
<br />to Lender eft the day monthly payments are due under the Nate, until the Note is paid in full, a'sum ( "Funds") equal to
<br />one-twelfth of (a) yearly taxes and assessments which may attain priority over this Security instrument; (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (r) yearly hazard insurance premiums; and (d) yearly
<br />arortgage insurance These items ate called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and r4wnabJ# 4w1mates of future escrow items.
<br />The Fundu shall be held in on i1witution the deposits or accounts of which we insured or guaranteed by a federal or
<br />state agency (including Leader if Leader is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Leader may not char=s far holding and applying the Funds, analyzing the account or verifying the a wo w items, unless
<br />Leader pays Borrower interest on the Funds and applicable lair permits Lender to mace such a charges Borrower and
<br />Leader may agree in writing that interest shall be paid on the Funds. Unless an agreemmt is made or applicable lave
<br />requires interest to be Said. Lender shall, not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />tthail give to Borrower, without charge, to annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which cult debit to the Funds was made "tile Funds are pledged as additional security for the sums secured by
<br />this Samrity, Imminaw-
<br />If the amount of t'se Funds Heidi': by Lender, together with the future monthly payments of Funds payable prior to
<br />the due dates of the escrow items, shalt-exceed the amount required to pay the escrow items when due. the excess shall be,
<br />at Bortower'ddiption4 either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. if the
<br />ameudt of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br />aswuntnecessary to make up the deficiency in one or nnore payments as required by Lender.
<br />Upon,Fgayment in fall of aU sums secured by this Security Instrument. Lender shall promptly refund to Borrower
<br />MY Funds hdd by Lender. If under paragraph 19 theFroperty is sold or acquired by Lender, Lender shall apply, no later
<br />thatr;immo' i Wly prior to Mee sale of the p� *s acquisition-tW Lender. any Funds held by Lender at the time of
<br />application is credit against the sums sea rxi lyl t. Si :curity lanjuri6t.
<br />3. Applieatloa of Payesents. Unless awe law provides othemir. all payments received by Lender under
<br />psaa;graphs I and 2 shall be spied: first, to late charges due under the Noses sxm-nd, to prepayment charges due under the
<br />14 i t~ ibird. to Omiants payable under pa agraph 2; fourth, to interest due-, acrd Fast, to principal due.
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<br />OWrM Lk■s. Borrower sFaalL pay all taxes, tLSs, cl'&-M:s, fines and impositions attributable to the
<br />Parr y *Wch may attain priority, over this Security Instrument, and ��told payments or ground rents. if any.
<br />B�sttlt>x+ier shall pay these obligations in the manner provided in puagraph Z, crif not paid in that mumer, Borrower shall
<br />pay dtca on time directly to the person owed payment. Borrower shall promptly fumish to Lender all notices of ansotants
<br />to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower, ( a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manneracceptable to Leader; (b) tiaantests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings k3tich in the Lender's opinion operate to
<br />prevent the enforcement of the lien or fofciture of any put of the Property; or (c) secures from the holder of the lieu, mi
<br />agreement satisfactory to Lender suberdraating the lien to this Security Instrument. If Lender determines that any part ef
<br />the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice i&ntifyina the lien. Beecower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of tilee6vingof notice.
<br />& Hasard lomwaaa. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against low by fire, hazards included within the term "extended coverage" and any other hazards for which l:..cateicr
<br />requires insurance. IMis insurance shall be maintained in the amounts and for the periods that Lender requires, the
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval iahk:h shall not be
<br />utirta umably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender a nd wtall include a standard mortgage clause.
<br />Lender "I have the tight to hold the pahrvw and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of toss, Botrowvr shall give PM. pt notice to the insurance
<br />carrier ad Lender. lender may snake proof of loss if not made promptly by Boer► wer.
<br />Unless lender and Borrower otherwise agree in voting, insurance prorraails shall be applied to nevotntion or repair
<br />of the Property damaged, if the restoration or repair iu economically rasib;r..wd Lender's security is nm, lessened. If the
<br />resu►ntion or repair is not economically feasible or Lender's secutfty would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument-.whether or not then due. with any excm pain to Borrower. If
<br />Borrower abandons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />odkTW to settle a claim, then Lender may collect the 6strsance proceeds. Len to may use the proceeds to repair or restore
<br />The Property or to pay sums seicured by this Security' lii trument, whether or twt then due. The 30•day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower othemise agree in writing, any application of proceeds to principal shall not extend or
<br />pmtpom the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. 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 theacquisition sfiat21 pass to Lender to the extent of the sums secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Phoervation and Mdatexasce of Pro"; Leaaebd& Borrower shall not destroy. damage or substantially
<br />change the Property, allow the Property to deuerinate or commit waste. If this Security instrument is on a leasehold.
<br />Borrower shill comply with the provisions bf tee lens tend if Borrower acquires fee title to the Property,.the leasehold and
<br />fee title shall not merge unless Lender agrees to the M+. -rger in writing.
<br />7. Pretdattioa of Leader's IRWft: to tlk Property; Mortgage Imarasce. If Borrower fails to perform the
<br />covestartts and agreements contained in this Security Instrument. or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceedf in bankruptcy, probate, for condemnation or to enforce laws or
<br />regulations). then Lender may do and pay for whaf4&& s ne'ce —'ry to protect the value of the Propmy =d Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien which has priority aver this Security
<br />Instrument. appearing in court. paying reasonable attorneys' foes and entering on the Property to make repairs. Although
<br />Lender may take action under this paragraph 7. Lender does not have to do so. .# #, t
<br />Any amounts disbursed by Lender under this paragraph T shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from
<br />the date of disbursement at the Note raft and shall be payable, with interest, upon notice from Lender to Borrower
<br />requesting payment.
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