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<br />UN It, ►Rtt O wf N NN Is Horronve o nit ( ender co%cnant and agree a% tirllarw s 89- 14W O Z""
<br />1. Payment of Principal and irlttrrest: i'repayment and Late Charge%. liorrouer %h ;all praunptly pay when du:
<br />the principal of and interest on the dept esuiencizil hl' the Noic and any prcpa tiient and late charges due under the Now
<br />2, Funds for Taxes Lind Insurance, tiubjnstt tar applicable law or t% %a w anent u;user M Lendcr, Horn+wcr shall Pay
<br />to Lender on the day monthly pnynnsnl't ar,, alue undw, the Vote, until the Note I% paid cat full, a mitt ( "i•unds ") cqua) tct
<br />one•nselfth of (a) yearly taxe. and wi%cnrnients uhich may attain pricutty o%er this Security tnstntnietit. (b) yearly
<br />leasehold paynicnt% or ground rent; on. the Property, if any; (el yearly hatitrt Insurance premiums, and td) yearly
<br />mortgage insurance premium,,, If any These item, are called "escrow Items " Lender mas estmnnate the 1'uuoh due on the
<br />basi% of current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of whtch are insured or guaranteed by a federal or
<br />state agency (including Lender if L.endor i,t such an institution). Leader shall apply tine Funds to pay the escrow item,.
<br />Lender may not chitrge for holding and applying the Funds, analyzing the account or %crifying the escrow items, unless
<br />Lender pay% Bt)rrc%vcr interest en. the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest. shall he paid on the Funds. L:nlem an agreement its made or applicable lase
<br />requires interest to he paid, Lendim ,hall not be required to pay Borrower 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 />purposefor which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Security instrument.
<br />if the amount of the Fund% held by Lender, together wilh the future monthly payments of Funds payable prior to
<br />the due dates of the escrow Item%, %hall•exiaced the amount required to pay the cwroa .s items w hen due, the excess shall be,
<br />at Wrrower's opuotn,.either promptly repaid to Borrower or credited it, Horrawca- o a monthly payments of Funds. if the
<br />amount of the Funds held by Lender I% not i•:ttf - icicnt to pay the escrow item% w hen, due. Burrower shall pay to Lender any
<br />amount necessi,ry tit, make up the defictcnry m r,,ne or inore payment, as required by Lender—
<br />Upon payriiety in full of all sums secured by thu, Security Instrument_ Lei:4der shall promptly refund to Borrower
<br />am Funds held by Lender. If under paragraph IQ the Vr, perty is sold or acquire-' by Lender, Lender shall apply, no later
<br />than immediately prior to the sale of the Property or iti acquisition by b erdfe , ,)ny Funds held by Lender at the time of
<br />application as a credit against the sum, secured by this Security lnstrutn; w.
<br />3. Application of Payments. Untc'ss applicable law pi-o% ide% otherwise, all pay mvrts recei%ed by Lender under
<br />paragraphs 1 and 2 shall be apph.ed. first, to late charges due under the Note; second, to preoa •n wnl charges due under the
<br />Note third, to amounts payable under paragraph 2, fourth, to interest due; and las<" t,- princioG due.
<br />4. Charges: Liens, Borrower shall Pay all taxes, assessments• charges, tikes and imp.•sitions attributable to the
<br />Property which relay attain pnonty over this Security instrument, arad Ieawhold payments or ground rents, if any;
<br />Borrower shall p,3% these obligations in the manner Pnostded In paragraph 2. or if not paid to tf,st• manner. Borrower -,N!U
<br />pay them on time directly to the person owed payment. Hornmer shall promptly furnish to Lender all notices of aniouats-
<br />to he paid under this paragraph if Burrower make% these payments directly, Hk*,mower shall promptly furnish to !.ender
<br />receipts evidencing the paymcnrs
<br />Borrower shall promptly discharge any lien which has priority o%cr thin Security Instrument unless Borrower: ial)
<br />agrees in writing to the payment of the obligation secured by the hen in a manner acceptable to Lender: (h) contests in good
<br />f.:tth the 1K-a ::y. I-Mr d t-11ds agair-isi ceifvicelneui rsf the lien in. icgai proceedings which in the Lender's opinion operate to
<br />present the enforcement of the lien or forfetture of any part of the Property, or (rl secures from the holder of the lien an
<br />uKtecincot wiWaLlmn hi I.cn.ici mixudinating the lien to this Security instrurnent If Lender determine% that any part of
<br />the Property is subject to a lien which may attain priority over this Sccurtt,%- Instrument. Lendcr may gi%e Borrower a
<br />notice identifying the hen Borrower shall %alisfy the hen or take one or moreof the actions set forth above within 10 days
<br />of the gn mg of notice
<br />S. Hazard Insurance. W.rrower shall keep the ttt►proitements not evas'ang or hereafter erected opt the Property
<br />insured against lit%%b% fire, hazards included within the.re'rm "extended coverage: ";. nd any ether hazards for which Lender
<br />requires insurance. "This m%uranicc .ha��.F+e rnaintam.,,-d inn the amounts and Mr• the periods that Lender requires. The
<br />insurance carrier prodding the ms'uirar,:.o shrx13 be chosen by Borrirx%cr subject to Lender's approval which shall not be
<br />unreasonably withheld
<br />All msurancc policies and renewals shad' he acceptable to I ender and shall Include a standard mortgage clause.
<br />i.ender shall ha%e the right to hold the pooim.es and renewals If 1 ender requires, Borrower shall promptly give to Lender
<br />ali receipts of paid premiums and renewal nottccs In q5 ,. went of loss., Horroxer %hall gi%e prompt notice to the insurance
<br />earner and Lendcr. Lender may make proof of loss if not made protr Lb by Borrower
<br />Unless Ixtrder and Borrower ntherwtse agree in writing. Insurance proceeds %hall he applied I(I restoration or repair
<br />of the Property damaged, if thc. restoration or repair is e�xtnomtcally feasible and Lendcr'% security is not lovvened. If the
<br />restoratton or repair I% not ec(:-r..ortncally feasible or ixEyder's security would he lessened, the insurance pro cwds shall be
<br />applied to the sums secured by this Security Instrument, whether or not ►hen due, with any excess paid ti7 lorrower.. If
<br />Borrower abandons the Property, or does ci..it answer within 30 day% a not Icc from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender mar cAffect the Insurance proceeds. Lender may use the prntxeds to repair or restore
<br />the Property or to pay sums secured by thrs Security instrument, whether or not then due. 'The 30•day period will begin
<br />when the notice I-. given
<br />Unit-,% lender and Borrower ntherwtse agree ins ca rating. any application of proceeds to principal shall not extend or
<br />tiosipnne the due elate of the r..Jnthly P3ym_nte referred t:T tie paragrapirn, 1 and 2 or change the amount of the payments If
<br />under paragraph 1Q the Property is acquired ksy Lender, Rorr %cr'% right to any insurance policies 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 Security
<br />Instrument immediately pnorto the acquisition
<br />6. Preservation and Maintenance of Property: Leaseholds. Borrower %hall not destroy. damage or %uhstannally
<br />change the Property. alto+% the Property rr,• deteriorate or commit waste if this Security Instrument is din a leasehold.
<br />Hc.rrower shall comply w rah the prmimons of the lease. and If Borntwer acquire•% fee title to the Property, the leasehold and
<br />fee title shall not merge unlc%% I ender agrees to the merger in :crating
<br />7. Protection of Lender's Rights in the Property: Mortgai~e insurance. If lit +rro%%er fails to perform the
<br />coeenant%and agrecrnt•nt%containcd In this 5ccvrliy Instrument. or there t %.t Icg.il pro, ceding ih.it may %igmtia.uitl} atfccl
<br />I.rndcr'% rights In the Pra +pert} (such a% a pr(veeding inn hankruptag. ptohate. tier crmdeir.naticm or, to cntorce• law% or
<br />reeulaturrt % }. then I cndcr Ina% die and pay for whate%cr I% ncacs%arc to Prrtc•% I the %Auc of the Propcm, and I ender'% right%
<br />in tho. Prtgtcrty I.rnaer'% ,i,tions. easy include• P-11": .11", %unm% secured I+y ,1 licit %%hl.h ha% priori% r+%cr thi% Scaurn%
<br />Inmronie'nt..tppearin? In %r•,irr. P,I%inlZ re,r%arnahlc.ittr•rndys' fee,. and ciac•ring Ira lire I,rn,pctI% ter make :q%ms Although
<br />f.rndcr may t,eke actfoo tinder ilw. Par.ogr,tph ' l code r d• res nr d h,is c tr dr. %t r
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