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<br />V%Ii(11M( "AIN>, \is Ilorrok ier and Lei deico %ciianla not agic•c•a% ft, lIow, 89-02720
<br />1. Payment of Principal and Interest: Prepayment and Late Charges, Ilorro%%vt .hall promptly ray whcu due
<br />the print oral of and interest on the dent cs rdenced by the Note and arty prepay tncnt anti late charges title under the Note
<br />2. Funds for Taxes and Insurance. Subject to applit;aNe I.o► or ttr a \. mien wanc r to 1 ender, Borrower shall pay
<br />to Lender on the day monthly payments are duc under the Notc, until the Note IN paid lit full..1 sans 1 "fund. ") equal to
<br />oine•twelfth of- (at yearly taxes and assessments which misty attain pnttnty oser tilts Security insrrun►ent; Ili) yearly
<br />leasehold paymeriis err ground rent (,n the Property, if any; tc) yearly hazard insurance premiums, and (tit yearly
<br />mortgage insurance prenutum. if any. These items are called "cscroo► Items " Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future eat: row items
<br />The Funds shat( he held to an institution Ilse deposits or aecaunts of it Inch are insured or guaranteed by a federal or
<br />stile agency Onc•luding [sender if Lender is such an instttulum) lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the funds, analysing the account or serifOng the escrow items, unless
<br />Lender pay,, Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that mterco shall be ptud on the Funds. Unless an agreement is made or applicable law
<br />requires Interest to he paid. Lender shall not he retigircd tr pay Itarreoycr any interest or earnings kin the Funds. Lender
<br />shall Five to Borrower, without charge. an annual aoeicuating of the Funds showing etedits and debits to the Funds and the
<br />purpose for w hich each debit to t lie Funds was nrjtJ.c 1•hc Funds are pledgod as additional eecunly Tor the sums secured by
<br />thissi,�curity Instrument
<br />If the amount Elf the Funds held by Lender, together with the future monthly payments of Viii3ds payable prior to
<br />the due dates of the m- row items, shall exceed iw amount required to pay the ewrow• items wheli chic, the excess shall be,
<br />at Borrower s option?., dither promptly repaid 1;1t l?torrower or credited to Borrower oq monthly payments of Funds. if the
<br />amount of the Funds held by Lender is tiot aufte ;rent to pay the escrow item when due. Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency ui one or mare payments as required by Lender.
<br />Upon payment in full of all sums secured by tilts Security Instrument. Lender shall promptly refund to Iorrower
<br />any Funds held by I.ender. If under paragraph 14. the Property ±s soltl orae.quired by Lender, Lender shall apply, no later
<br />than immediately prior to the sale of the Pr( sy irt:s or its acqutsmon by I.rnder. any' Funds held by Lender at the time of
<br />application as a credit against the %urn% secured I~y this Security ln,;r,•uriew
<br />3. Application of Payments. t'nlcss applicable lace pro%tde %othem ise, all payments recened by Lender under
<br />paragraphs 1 and 2 shall be appEted -. first• to late charge% due under the Note, second, to prepayment charges due under the
<br />Note; third, to amounts, payable undet paragraph 2, fourth, to interest duc +and last, to principal due.
<br />4. Charges; liens.. Horrower shall pay all taxes, assessments.. chatges, ti nes and impositions attributable to the
<br />Property which may Aftuni priority oser this :security Instrument, and Icaschold payincnts or ground rents. if any.
<br />Horrower :hall pay these uhhgatitins in the ni niner prostded m paragraph or if not paid n► that manner. H ;,rr(o%cr shall
<br />pay them on time directly its the Person owed payment liorrnwc•r shall promptly furnish to Lender all notices of amounts
<br />to he paid under this paragraph If Horrower makes these pay anent% directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing tine payments
<br />Borrower shall promptly th%charge any lien which has priority user tins Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the (,litigation secured by the lien Ili a manner acceptable to Lender, I h) contests Ili goad
<br />C-1111, o iiir lieu toy, ut driend% agatmt rni(ircement of the lien in• legal pt it(•edings which in the Lender's opinion operate to
<br />prei.ent the enforcement of the hen or forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement sattsfacton, uxlender sutx+rdmating the lien to this Securm ltistrunient. If Lender determines that any part of
<br />the Property is %abide¢ !. : %a lien which Ina% au: in pnonly oicr thts tiecurity lnstntment. Lender may gt%c Horrower a
<br />notice identifying the ?t an Horrower shall sattsfp the hen or take onc• ttr mt,rr of the actions set forth above within 10 days
<br />of t he gn ing of notice.
<br />S. Hazard Insurance. Horrower shall keep the inprosc•nicnts loss existing or hereafter erected on the Property
<br />insured against t(»s Z<;, ii-e. hazards included within the term "extended 7.ttcrage" and any (titter hazards for which Lender
<br />?squires insurance. Ili% insurance shall he maintained in the amounts an(] for the periods that lender requires. The
<br />uisurancc:,arriser proytdtng the insurance shall he chosen by Horrower 6tjbje4,t to Iender's approsal which shall not he
<br />unreason, f_W withheld
<br />'AU :Yisurance policics and renewals shall he a,.ccrtahle to I.ende•r and shall ;rtrludc a standard mortgage clause.
<br />Lender shall hart tlite.. right to hold the policies and renewals if Lender requires, Horrower shall promptly give to Lender
<br />-all receipts of paid prt- cintums and renewal noticov [tithe cs ent (if loss, lit,; rro %vcr .hull'gtse prompt notice to the insurance
<br />carrier and Lender 1.erder may make proof of loss If nor tnatfc, promptly by Horrower
<br />L ndess Lender and Burrower othem tse agree to aru:tt7g. insurance proceeds shall he applied tit restoration or repair
<br />of the PrtaL?t rly damaged, if the restoration or repair is cox +r.<fmirally ftasible and Lender's security is not lessened. If the
<br />restoratt•:,) or repair i,y.aot econormcally feasibrt-- or Lender's security %;,t,til.d he lessened, the insurance proceeds shall bt;
<br />,1+pited r :.ahc Burns urea. ?ed by this,
<br />>ecurtts lies- >rscnrnt, whether or n, citien due. with any exc(n)i laid to Borrower.. If
<br />iYwrr. an�ratbandons this Property. (+t dos not.1-a;.vo:iter within 10 days a �irNr�:e from Lender that t. x:insurance carrier has
<br />offer tt.li�• sit rte a claim. then I crvJ,_r riat nrsurance proceeds. Lender ma.) user the proceeds to repair or restore
<br />the Prtti{r_,ctt• Or to Pay sums ses•urt!lilYg this ; . y Instrument. whether or not t.hc>t dolt. The tot -day period oil) begin
<br />when the ntitice is green.
<br />unless Lender and Horn,sser otherw ist'!Iwree in w riling. any application of pro; :evils to tprin.capal shall not extend or
<br />Postpone the duedate (it the monthly pa%tricnis rcfcrrt:d to iii par,rgrapll.% i and 2 or chiinge the air• -:xnt of the payments If
<br />under pae:tpraph ly the Properly rs acquired by lender. Hornotier's right to any insuraance policies and proceeds resulting
<br />ftnm dams rrtt the Property prior tothe acywsition shall pass it) Lender it, the extend ,-.f the sums secured by this Security
<br />Instrumemtmmediately prior to theacyuisition
<br />6. Preservation and 'Maintenanceof Property; i,ea- wholds. Ht,�rrtt•ucr shall not destroy, damage or substantially
<br />cihanfe The Property• allow the Property to deteriorate nr commit wasie 'If tins tietunn Instrument rs on a leasehold.
<br />HcHrnw'ershall cuniph with the prtrxistt,nsof the lease. and if Borrow er ;ugtsires Ice• `.,tic its the Property• the leasehold and
<br />fee title shall riot met-9c unless I ender acmes it, the merger in antnig
<br />7. Protection of Lender's 1RiKhts in the Property: Mortgage Insurance. if Horrower fails its pc61rni tilt•
<br />covenants aril agree•mcrits,ontarned in this ;AC, U111% Instrument. .•r there• i,,t Icual rru ;ceding that ni.it sigmtic,intl% mit.,t
<br />Lender's rrNl(ts tit the Propt•rrs tst(t)t ,(s a ptf` ;t•cdrrig in h:mkruptt,s, hr,•h.ift•. ti,r tnndcmnatu,tt t2 t,` cntortc laws .•r
<br />teguiatimst. then I ender rn,n tft` am)p.ry tf,r tthatcscr is necessary t. • pn`'rc• the talricM the Pwper(r .snd I Cildcr's nt•hr•
<br />uv the NrnPerrs I e•r,dcr s .t, ts,•n•, tsua teal ;ui( r.atttie any sun:. se, urr,i h. ,t ;ic•rt wln.h has pit „net t•st r thn st ,tars
<br />Iitsttum.nt. appc,rnn,t
<br />it: .mm. r.ts in): *• .,s. rt.ir.:: srrt•rnets fees cuts( secs f::ei • n tilt lot, tt t,• m.ln, r• t•.nrs thh.•.tr
<br />F ender may take e, ,. a U -It t th. �,tr,nr tic E t r der iltw,, 014 h.nr rt,ti •s•
<br />Aro, .1111, .141.1, tlt.r•uis, it {,, t ,east.. ,;• .1,• rh•, i,,rr t;;r ::rh fr ::: �t. 1a :fr •t..i! ,t: i ' it :r- et, t . , lilt I
<br />ti*ennt♦ il,rr•Utr tin t t. ss, t{ •rr,•�a r .;,.1 I , t.,trf .ti '. 1r., i.,r toll „ r 1• .,, . r • •i.• :' .r` t., .' t. (, n •t •t .r' f
<br />list• .).tic ,r ': �(,nts- •u,. r. ti -• \ ,
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