|
� � , t . �
<br /> . , . ��,
<br /> j11QIF'O1tM CUYE�IANTS. Homswdr and Leader cavtn�r►t and agrte as foliows: B�- 1 Q 5'�10
<br /> f. Pay�t o[Pri�c�l a�i Itteres�PreMy�t aN Iate G'Iwr�e�. Borrawer shall prnmptly pay when due
<br /> . t6t princip�l of and interat ae the debt evidenced by tht Note.and any prepayment and lnte charges due under the Note.
<br /> 3. .Fiu�for Tues�i I�rr�ee. Subject ta�ppl�:c�bk 1aw or to a written waiver by Lender,Horrower sA�}I pay
<br /> to�ender on the day manihly payments ue due untkr the Ncsce.anti!thr Note is paid in fuil,a snm("Funds")equa!to
<br /> - ont-t�weitth of:�a) yeas�y tuces and asseasnQCnts which may attain priority oves tfiis Secu�ity Inzi�rumant�, (is)yrarty
<br /> s lasthoW pymcnis oc,�rcwnd rmts oa t�t Prapert}. if any; (c) yearly hu�rd insunnce premiums; and fd)}tiarly
<br /> � moKp�e insunu�ce prem'tums,if any.These items are calkd"escraw item�.•'Lender msy estimate the�unds dnt on the
<br /> b►sis c�C'curn�tQat�ar,d reaw�abkestimata�nftuture e�ra�v ieem�.
<br /> . Tbe�unds�ha11 be heW in an institutioa tbe depoaits ur accounts of which are insurcd or�uarantted�y a federat dr
<br /> � ��� rii►t�e�yaic�r�Cincl�u�ias i.e�i�ei if�t.e�ie�i��k a�t[�3�stieuti��. i.�rtrkr sh�1t apply�the Fahd'sta►p+�y t6rtscrow items.
<br /> � Le�der may er�t clur�e for I�oWin��nd spptyin�Elje Fund�,anslyxin�tAe accou�t or verifyin�thr eserrnv item�,unless
<br /> ; : . t.a�ier prtys Eiorrower ir�tereu on the Funds�appli�abk bw pennits I.erukr tcr make sueh�clur�e. Horrawer and
<br /> � Lender may s,�rce in writin� that iaterrst sh�tlt be p�id t�n the Funds. Unless an a�rennent is made or applicabic law
<br /> requira inte�+d�t to 6t paid�l.�nder sAall not be required to pay Borrower any interest rn esrnin�s on the�und�. Lender
<br /> s�ll�to Bortawer.wfthout chat�e.an�nnus!�ccountina of'the Funds showing credits snd debits to the Fund:�and the
<br /> pupae fuc�rhich each debit ta the Fundx was tnade.Tht Funds are pleslged as additionsl seturity tor the sums secured by
<br /> tf�security inst�urnent. '
<br /> If tlxanwuat oi'tiu Funds Aetd by Lendet,together with the fuwre ruonthiy payments of Funds payabte priar ca �
<br /> _ tbe d�data af.the acro.v items,sha11 exc,ee8 che amount requ'tred co�y chc�.srr�+v icems when due,the exsess shalt b� ,:.:�
<br /> , at Horroaer'a optio�e,ritha promptly repaid to Borrawer or ccedited ta Borrower on monthty payments of Fund�.Tf t�z
<br /> � anwunt of th�Funds hetd by I.ender is not sut�cient to pay the escrow items when due.aorro�e�shatt�y to u��y � �
<br /> � �mount neeeas�ry to malce up the de5ciency in one or more pay menrs as required by Lender.
<br /> Upon payment in full of aIl sums securod by this Secnrity instr�mrnt,Lender shall promptly refund to Horrov►er
<br /> j any FutWs held by Lender.If under pangnph 19 tAe 1'roperty is sold or acquired by Lender,Lender shalt apply,rto tater
<br /> � than immodiatdy priar to the sale of the Property or its acquisit#on by Lender.any FunrJs held by Lender at the time of
<br /> ; applicstioe as a credit against the sums secwod by this Seeurity Instru�ent.
<br /> � 3. A�li�of Payeteets. Unkas applicaEle law provides otherwise,all payments r�ceived by Lendrr un�tr '
<br /> � paragraphs 1 an3 2 sfsaU be applied:first,to late charges due under tEta lVotr,second,to prepayment charges due uader tl�e
<br /> NaC third,tn amounts pay�ble under paragnph 2;faurth.to interest due;and last,to prinripal due.
<br /> � 4. Ctiar�I.ieta. H�rcower shall pay all taxes,assessments,charges,Bnes and impositions attributabk t�iLe � `
<br /> Proprrty �vhicbs �g attaiA priority,over this Security Instrumrnt�, and leasehold payments ar ground rents,i�aRay. �;�
<br /> ; &xtn�rar shalt}�y th�se obligations in tha manner provided in pafagraph 2.or if not paid in that manner,Horrower sb�aRl . '
<br /> � pay them on time�1ire��-to the persoa ov�ed payment.Bonower sha�Et ptomptty furnish ta E.ender all notices of aiaaw�izs r '
<br /> ' to 6e paid wx�er fh�i"s parz�,p��.If Borrawer makes these payments directiy.Sorrower�S3 pramptip furnisis to LtrWier ` �
<br /> roceiptsevidencirsg�tr:�,:j��s.
<br /> � Borrowe2�s,�,x�:pramptly discharge a.*�y lien which has prior�2k aver this Security Iasc�umtnt unless Bonower:Ga)
<br /> �gras in watin�g za¢��payment of the ob�a�.tion secured by the tiecn cia a manner acr,eptabte tm�.ender,(b)contats in gKx�
<br /> � faith the lien by,or defends against enforarscnt of the lien in,legat�roceedings which in the Lender's opinion operat:e io '
<br /> : preve�t the enfoscement of the lien or forfeiture af as�y part of the Property;or(c)secures f'rom the hoIder of the lien an
<br /> � agreement satisC�,:tary to Lender subordinattng the lieca t��his Secur•ity lnstrument.If Lendtr determines�hat any pzrt of
<br /> � the Proporty is w�,kvoct to a lien which ma}��ttain priority ovee rl;�i;�Security Instrnment, Lender may give Bona�a a �
<br /> ,
<br /> a noiic��c'iai.�i j�is��;c ji;.t�. Bar.a�er sra9�:.�•.�s y.hE tie:��r tai:c�y.<r mor;.af tke actiasss set!'urtls.:�.e r.�i�.hi�If�:���. .
<br /> ' of the giving o�notice. �
<br /> IS. Hwrd I�rfnce. Borrower shall keep the imprdce:��ts now eaisting or htreafter erecie�,�cs.rhe Property
<br /> ( insured against loss by fire,hazards includecS v�'ithin the term•'eatecsded coverage"and any other hazasds t'c�r which Lender
<br /> � requires insur,ecfrae�This insurance shalI f�cnaintained in the an.r�a���nts and for the peri�that Lender requires. 1'he
<br /> ; insarance carrir.���roviding tht insurance�I�a11 be chosen by B��s��er subject to Lender's approval which sha�l rt�,�r.i�e
<br /> nnreasonabf3��.?:he1d. �
<br /> � A►��xu.�:+;ance pofic-ies and re��ewaJs shall be accepta6le tv%ender and shali ittclude a standard martgage clause.
<br /> I Lend�r sha.@ f�a��the right to hold the policies and renewals.tf i:r�;r�er requires,Honawer shall promptly give to Lender _ �
<br /> � all receipts oi��remiums and renewal notices.In the event of'l���+,Borrower shall give prompi notice to the insu�.�+nce ,
<br /> i carrier and Letsu�:.Lender may make proof of loss if not m�de pro.r,rtly by Borroaer.
<br /> � Unless l.ender and Borrower otherwise agree in writing,insurance prceeeds shall be applied to restor�t.s.�n+1r r+��ir � `
<br /> bf the Property damaged. if t.la:�restaration or repair is economically feasible and I.ender's security is n��� !�:�,�r:��! [t'the
<br /> � restoratian or repair is not ecr=3or�ically feasible or L.ender's security would be lessened,the insurance pruceeds s��:�d:l be '_
<br /> applied to the sums secured by:fiis Secu.rity Instrument,whether or noi then due,with any excess paid to Borrow�r. If
<br /> � Borrower abandons the Property,or does not answer within 30 days a notice Pram Lender tlrat the insurance carrirs has
<br /> ! ott'�rcd to settte a ctaim.then L.ender may collect the insurance proceeds.Lender may use ihe proceeds to repait ot testore
<br /> ; the Property or to pay sums secured by this Security Instrument,whether or not then due.The 30�day period will begin
<br /> Mben�he notice is given. "
<br /> Unte!:s l,ender and Borrower otherwise agree in writing.any application of proceeds to ptincipa)shall not extend or
<br /> _ i poatpone the due date�f the manthly payments refened to in paragraphs 1 and 2 or change the amount of'the payments.lf �
<br /> undet paragtaph 19 the Property is acquirtd by Lendcr.Borrower's right to any insurance policies and proceeds resultins
<br /> , from damage to the Property prior to the acquisition shall pass ta Lender to the extent of the sums secured by this Security
<br /> Instrument immediately priar tothe acquisition.
<br /> � 6. PreserYatlo�mnd M�fntemttce of Ptoperty;Leaseholds. Borrower shall not destroy.damage ar substantially
<br /> ' change the Property, allow the PropettY to deteriorate or commil.waste. if this 5ecurity lnstrument is on a lt:asehald, � ___._ _
<br /> : Horrower shall comply with the provisian•�of the lease,and if Harr�a�vc:r acquires fee title to thc Property,the lcasehqld.and �' T
<br /> fcetitle sha11 not merge unlas Lenderagreest4 the m�g�c in wrilii�}�. �
<br /> 7. Protectlon of Lender'a Right� in the Property; ilt�rig�Ke Insurance. If Borrowet fail� tu perFc;tm tlte I ,
<br /> � coeec�nt:.su�e:a�rcc�r:es►ts so�tsinrd irt t�sis�esatity�r.st;umens.nr thete is s legst prc�e:eed'sag t!!Q!m3y si�tti&ean!!y affer� 4
<br /> Lender's righta�n the Property(such as a proceeding in bankruptcy, probate, for condemnation or to enforc�l�us or
<br /> � regulatians),then Lender may do artd pay for whatever is necessary to protect the value of the Propeny and Lenderrs rights
<br /> � � in the Propeny. Lender's actions may include paying any sums secured by a lien which has priority o�•er th�s Security
<br /> Insttument,appeari�g in court,paying reasonabte attorneys'fces and entermg nn the Pt�p��rlf tn make re�+airs.Allhaugh
<br /> Lender may 6akc aciinn under this paragraph 7.I.ender docs noi have tv do ko.
<br /> ' Any amaunts disbur�ed by Lender under this paragrapfi 7 Sh:�ll hec�me addittona)dibt af He�rrt►µer seci�i�41 h}•tl�is
<br /> SeCUrity Insf cument.Unless&�rrowcr and Lcndrr a�rce to uihrr terms uf payment.the5e��rnount�clrall hear interc�t Pr�,m
<br /> the date ot disbutsemcnt al the Nc�ic rate and shall br payrblc; �►itli interest. upun notice fr��m Lender ��� Ei��rr�.��er � ,,/
<br /> rcyuesting payment. L
<br /> . t_
<br /> ..��-
<br />
|