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<br />UNIF0RMC-- )VFNA%ic F] i�rrrsscra�i+ L. e• n,' rrcr�srnantlrtdagrcct�ilh�ws 89---- 1 0264 3
<br />I. Payment of Principal and Interest; PvepayrnNnt and Late t'harges. Bnrrtmer shall prornpil) pay when due
<br />the principal ofand interest on the dehr es tder,;eJ by the Note and any prepayment and late charge% due under the Note
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a w ntten water by L ender, Borrower shall pay
<br />to Lender on the day rnonthl} payment, are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to
<br />one - twelflh of: (a) yearly tales and assessmenti which may attain priority over this Security instrument; (h) yearly
<br />leasehold payments or ground reins on the r oherty, it' any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any These items are called "escrow item% " I -ender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shat[ be held in an institutom the deposit-, or account :i of w Inch are insured or guaranteed by a federal or
<br />star. agency (including lender if Lender is such an instrvinon). Under shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holdrrrjt and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower irifntrest. c the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in wtitirg t!rat interest shall he paid on the Funds Unless an agreement is made or applicable law
<br />requires interest to be pmd. Lender shall not be required to pay Bormwer any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual. accounting of the Funds showing credits and debits to the Funds and the
<br />Purpose for which each debit va 0.14 Funds was made. The Funds are pledged as addeteonal security for the sums secured by
<br />this Security instrument
<br />If the amount of the f'u.r,.o.-, held. l-1 Lender, together with the future monthly, payments of Funds payable prior to
<br />the due dates of the a wr ow 4lut.IJ. ex.4t,•ed the amount required to )+ay the escren items when due, the excess shall be.
<br />at Borrower's opti,rrr,.either rrompt!ti repaid to Botrow•er or credited to B- orrower on monthly payments of Funds. If the
<br />amount of the Funds held by Under is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />amount necessary to make up Ihj: deficiency in one or more payments as required by Lender.
<br />Upon payment in full. f all Sums secured by this Secunty Instrument. lender shall promptly refund to Borrower
<br />any Funds held has Lender If tinder paragraph 1y the Property is sold cr acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sah., erg the Property or its acquisition fly Lender, any Funds held by Lender at the time of
<br />application as a credit against. thr. Yuttia secured by this Secunir instrirrrent
<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 Arita rits payable under paragraph 2. fourth, to mterrst due: and ]as:. to principaldue.
<br />4. Charges, Liens. Borrower shalt pa;, all taxes, amessmeints. :harges. tines and impositions attributable to the
<br />Property which may attain pnonty over this Security instrument; A.-O ieasehol payments or ground rents, if any.
<br />Borrower shall pay t!tese obligavens in the manner pins ids d to paragraph 2, or rf nor {card in that manner. Borrower shall
<br />pay them on time dtrectly to the person owed payment Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under thcs paragraph. If Hr,rrower makes these payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing, the payments
<br />Borrower shall promptly discharge any hen which has pnonty over this Security Instrument unless Bnrrnwer• (at
<br />agrees to wnung to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />_- faith the lien by. or defends against enforcement of the lien in. legal proceedings which in the I ender% opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property, or (c) secures fron?.. the holder of the lien an
<br />agreement satisfacwn to Lender subeirdinating the lien to this Security Instrument. If Lender detrilitines that any part of
<br />the Property is subeict to a lien which may attain pnonty over this Security Instrument. Lender may give Borrower a
<br />notice identifying the hcii Ri,rrnwei 0:01 satisfy the lien or take .me or more of the actions set forth above within 10 days
<br />of the giving of notice
<br />S. Haurd insurance. Burrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss Iny fire, hazards included within the term "extended coverage" and any ether 1-razards for which Lender
<br />requires insurance;'ethic insurance %hall he maintained in the amounts and for the periods thai Lender requires. The
<br />insurance carrier prosiding the insurance -F:aIJ he chosen by Borrower subject to Ixnder's approval which shall not be
<br />unreasonably withheld
<br />All insurance policies and renewal; shall he acceptable to lender and shall include a srildard mortgage clause.
<br />Lender shall have the nght to hold the NIccics.and renewals If bender requires, Borrower shall'promptly give to Lender
<br />all receipts of paid premiums and renewal -,c: ices in the event of loss, Borrower shall give prompt notice to the insurance
<br />caterer and Lender. Lender may rr.ake errief of loss if not made promptly by Borrower.
<br />Unless Lender and Borrasxzr oa :: tr,x, ice agree in wnt ing. insurance proceeds shall he applied to restoration or repair
<br />of the Property damaged, if the restoranon ar repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is. not economical ;. f�w.itwie or Lender's security a,aeld ewe lessened. the insurance proceeds shall be
<br />applied to the sums secured by this Seclrtv Instrument, whether or nut then due, with any excess paid to Borrower. if
<br />Borrower abandons the Property. or dcr_s n,s answer within +U days a notice from lender that the insurance carrier has
<br />offered to settle a claim. then Lender ma,, collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by thm Secunty instrument. whether or not then due. The 30•day period will begin,
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in venting, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly pay ments referred to in paragraphs 1 and 2 or change the amount of the payments If
<br />under paragraph 19 the Property is acquired by Lender. Borrower's right t•, any insurance poltcies and proceeds resulting
<br />from damage to the Property prior to the -acquisition shall pass to Lender to the extent of the sums secured by this Secunty
<br />Instrument immediately prior to the acquisition
<br />6. Preservation and Maintenance of Properf ; Leaseholds. Bornmer shall not destroy, damage or suhstantially
<br />change the Property. allow the Property to deitriorate or cornmot waste if this secunis, Instrument is on a leasehold.
<br />Borrower shall comply with the prcii m ons of the lease, anal if Borroitt r acquires fee title to 'he- Property the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in wntrng
<br />7. Protection of Lender's Rights in the Property. Mortltaoe insurance. If Borrower fail. to Ixr(orm the
<br />covenants and agreements contained in this 44iccurity imtrumew. or there is a legal rrekeeding that may mgnrncantly affect
<br />Lender's nghts in the Property (wch is a proceeding in hankrupt,y. probaR•, foe condemnation nr tr. rnfon•e laws „r
<br />regulations), then Lender may di • and pay for whatever is necessary to protect the %slue of the Property and Lender's rights
<br />in the Property tender's acir .ns may include paying any sums seczjrt -J >>o a lien ahrch has priority „sec this srcurits
<br />Instrument. appearing i,• a hurt. paying reasonable att•,rneis' fees and ewrrin;i i•,i th- Pri,perrj to rnakr repairs Alth4wgh
<br />Lender may take actinn under this parayr.;rh 7 1 en,lercf+ers not tease to d
<br />Any anu,unts disbursed hw i cukirt and ^r tho, i,aragr :,ph 7 shalt h!, ,rnr• ad,tr•: n: r; rich; a H,•rr •wrr sr. urcd hs this
<br />Security instrument i ales Fir,ru veer .it•.i f cn.1••t ,.jlr,•+ ro, +char +ern •. ; 3�r..rt ••ire• e:r, .. •� .hay +� -err „nrrr�t`•,•rr,
<br />the date ,d uttihuttitr•ifn rt tl. • :. r.,t^ .o.., ct. r {i r• ls•. ;�.•f Ifi•r• •v r,
<br />requesting pai•nierrt
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