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89-- 102891
<br />UNll011%1Ce %ltiA%lti HormwerandLenderro %cnantandugrcea%t�ilh�w,
<br />1. Payment of Principal and Interest Prepayment and late Charges. Borrowcr .hall promptly pay when tine
<br />the principal of and interest on the debt e%idenced by the Notc and any prepay nlent and late charges title under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to it %% ntten wit er by lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under the 'Vote, until the Note is paid tit full. it --um ( "Fund.') equal eta
<br />one - twelfth of ta) yearly taxes and assessments which may attain priority mer 1111. Sccurn% Instrument; (h) )early
<br />leasehold pa)ment% or ground rents on the Property, if any; tc) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow item%." lender may estimate the Fund.s, due on the
<br />basis of current data and reasonable estimates of future escrow tent%.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Under is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or ccrtfying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall h%: paid on the Funds. Unless an agreement 1s made or applicable law
<br />requires interest to be paid, Lender shall 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 />purpose for 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 Funds held by Lender, together with the future monthly pay rienis of Funds payable prior to
<br />the due dates of the e',crow items, shall exceed this amount required tio pay the cscirow items when due. the excess ',shall be.
<br />at Wim- ?wer's tenon, either prompts) repaid to Borrower or credited io iorrower on numt'aly, payments of Funds. if the
<br />amount of the Funds held by Lender iv not.ufficient to pay the escrow items %vhen due, forted, %er shall pay to Lender any.
<br />amount necessary to make up the deftctency in erne or mare payments as Tcquired hy Lender.
<br />i1pon pty'ntent in full of ail sums secured h" this Securit) In%tcument, Lender shall Pr%Nmptly refund W fiorro%%ec
<br />any F3utds held by Lender. If under.parahraph •19 the Property is sold tit acquit s4 by Lender, Lender shall al►pty. no later
<br />than immediately prior to the sale of the Property r %r its acquisition by Lender, army Fund• head by -Lender at the time of
<br />application as a credit against thesums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law p,(i%idcs otherw%w. all payments received by Lender under
<br />paragraphs 1 and 2 shall be, applied: first, to late charges due under the dote. second, to prepayment charges due under the
<br />Note. third. to amounts payable under paragraph 2; fourth• to interest due; and last, to principal due.
<br />4. Charges; Liens. Borrower shall pa) all taxes, assessments, charges• fine% and impositions attributable to the
<br />Property which may attain pnont) over this Security instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligation% in the manner pro%ided to paragraph 2. or if not paid in that manner. Borrower shall
<br />pay them on time directly to the l%cr%oil owed p:►yinent Borrowcr shall promptly furnish to Lender all notices of amounts
<br />to he paid under the•: paragraph If ldonrower makes these payment. directly. Borrower %hall promptly furnish to Lender
<br />ri eiptsc%tdencutg lite payments
<br />ilorniwer %hall promptly dis%harge ,►n% hen which has pnonty oter this Security In%trunmcnl unle%s Borrower (a)
<br />agree% in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (h) contests in good
<br />faith the hen hy, or defends again %t enforcement of the licit in. legal procceding% which tit the Lender'% opinion operate to
<br />present the enforcement of the lien or forfeiture of any part of the Property. or (e) secure -c from the holder of the lien an
<br />agreement satisfactorn to Lender subordinating the lien to this Security Instrument If Lender determine% that any part of
<br />the Property is subject to a lien witch may attain pnonty o%er this Security instrument, Lender may give Borrower a
<br />notice identifying the lien Borrower shall satisfy the hen or take one or more (if the actions %et forth above within 10 days
<br />of the giving of notice.
<br />5. Hazard Insurance. Borrower %hall keep the ►ntpm%cments nod• existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended covertge" and any ether hazards for which Lender
<br />requires insurance. This insurance shall be maintained u► the amounts and for the periods that lender requires. The
<br />insurance carrier pro%►ding the insurance shall he chosen by Borrower subject to Lender's approval which shall, not. he
<br />unreasonably withheld.
<br />All insurance policies and renewals %hall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall hase the right to hold the policies and rerewals. If Lender require,, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss. Borrower %hall give prompt notice to the insurance
<br />carrievand Lender. Lender may make proof of lo%s if not made promptly by Borrower.
<br />U nless Lender and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or repair
<br />cif the Property damaged, if the restoration or repair t• economically feasible and Lender's security is not lessened. if the
<br />restoration fir repair t% not economically feasible or Lender's %ecunty would he lc% %ened. the insurance proceeds shall be
<br />applied to the suns% secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. if
<br />Borrower abandon: the Property, or de-es not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds Lender may use the proceeds to repair or restore
<br />the Property or to pa% sums secured by this Security In%trurnent: whether or not then due. The 30 -day period will begin
<br />when the notice is green
<br />Lnle %% Lender and Borrower otherwise agree to writing. any application of proceeds to principal shall not extend or
<br />postlx)ne the due date of the monthly payments referred to in,paragraph% I and 2 or change the amount of the payments. If
<br />under paragraph 14 the Propert) is acquired by Lender. Borrowers right to any m %urance policies and proceeds resulting
<br />from damage to the Property prior to the acquistton shall pass to Lender to the extent of the sum% secured by this Security
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower %hall not destroy, darnage or substantially
<br />change the Property. allow the Property to deteriorate or commit wa%tc. If this Secunt% instrument ►% on a leasehold,
<br />Borrower %hatt.caomp!g with the provisions of the lease, and if Borrower acquires fee title to the Property. the leasehold and
<br />fee: title shall rml rr.:rgt: unlcv, Lender agrees to the merger to wnting.
<br />I. Protection 6f,tender's Rights in the.Praperty: Mortgage insurance..' If Burrower tai:. to perform the
<br />c. 1c x rtr5.antf ;sgsCCments cantaincd In this Security instrument. or there is a legal r r::ter�:rg, tb:a! may 3tuntficar.tty aged
<br />Ladet's rig 6ilc 4- the Pro-Vert) (such a,, a proceeding to hankreptcy, probate•..° : sncrr.:.wa1i or to enfer,e taws or
<br />re plaations), then Lender m at do and pig; te* u hatc%er is ncce%- ry re protect 0--c l a.i.c of -he 1'rnl c•rty and I.rrrer`s ntgFt%
<br />irr'f}ir Property Lender's z:rtom may mcu!de paying 3.:?ti %um %secured h% %%hich has prion'•. 6vet 1:i:, Securrt%
<br />L Instrument. apiwaring in l tart. paying rea, tonahle fee% and entering r• r :he Pr+ +pert} to make repair-. �ftha ;a�
<br />Lender mey take action under this paragraph 7, Lender goes nt +t ha%c tt+ do
<br />Any aouowit% timbur%ed by Lender under this paragraph 7,,11.111 hcri�rnr .uldiurt +..1 itrht e f H: +rr +iwe r u•ruretd by tills
<br />Srvurity In%trument Unless Boiruwer and I ender ay,iee t+ +,+the•t %cyan. of pay mew these .it n wit, shall hear m!crt-%t fr+mi
<br />the it.air of di%hurwrtivw it ihc• %tit(• rate• aitil %ll ;lll 'v p.i%,ihlt•. with intt•ri "t it•+•rl i,+•tiLr tram i rntde•t t++ F { + +n+•wrt
<br />rryurutng partnent
<br />9$
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