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<br /> . . ° 1. P�y�t o f P r U t l r i�/I�t K M t i�i�l'�t�r/l.�te�1 s r M�• Borrowcr� �promp11Y P�Y N e. w,._= -
<br /> . tb�princiWl of and Interat on Iho debl evWencAd by the Nate�nd�ny prep�yment�nd I�te chu�es due under tha w ______ _�
<br /> , • � ,��.,•;.,:. 2. Fw�4 tor T�aM wI iMwracn, SubJect to�pplic�blc I�w or ta a wrilten w�iver by Lender,Botr�wer�h�ll psy :�-;�.:--�A
<br /> to l.ender on tha d�y monthly Mymants uc due undct N�e Note,umil the Notc is psld in NII,r xum("Fund+�")equ�l�a � � � .•,,::,-,:�T�„`T�
<br /> ' onatwelfth nf: (a)ywtlry I��es �nd �QSacsmenu whfch moy attain priorily ove� thiR Securf�y Incirumen�;�b) yea�ly . :.,,:.,�.;;:..��;;
<br /> . • la�ehold pryment� or Q�ound rent�on the Propeny. if�ny; (c) ye�rly hrr�rd in�urance premiumi; and (d) yea�ly ' �
<br /> mong�ge inwrnnce premium�,if any.These items�re cAlled"e�crow items." Lende�moy estim�te the Fund�due on the .... .-..;�...,;w.::....._,;:;
<br /> bais of current d�t��nd r�uon�ble atim�ta of fuw�e a�crow items. ...Y� ::,�;,,.� ,�,.
<br /> ' Thc Funds shall be held in�n iestitution the deposits or accoumr of which+�re iosured or gua�Ameed by a federal or . ,,, .. _
<br /> s��te a�ency(includin�Lender if Lender is such An inatitutian).I.endcr shwll apply the Funds to p�y the escraw items. � �
<br /> ' Lendor mRy not c h�rg�for ho l d in�an d app l y in g t h e F u n d s,a n a l y z i n g t h e a c c o u n t o r v e ri f y i n g t h e e s c r o w i t e m s,u n less
<br /> l.ender p�ys Borrower interest on the Funds and applicAble law permits l.ender to meke such a cherge Barrower and � �
<br /> Lender may agree in writing thAt inte�est shall be�wid on the Funda. Unless an agrament is made or applicable law I
<br /> requires inte�at to be paid,Lender shall not be rcquired to pay Horrower any interest or earnings an the Funds. Lender
<br /> ahdl give to Aorrowe�,w�thout chuge,an annwl�crnunting of'the Funds showing credits and debits to the Funds and the I
<br /> purpax for which each debit to the�unds wss made.The Funds are pled�ed as additional security Por the sums xecureu by
<br /> tbisSxurity Inatrument. �
<br /> IPthe unount of'the Funds held by I.ender,together with the future monthly payme�ts uf Funds payable prior to �
<br /> tbe due dates of the escrow items,shs�ll exceed the amount required to pay the esc�ow items when due,the e�ccess shall be. .
<br /> at Borrawe�'s option,either promptly repaid to 8orrower or credited to BoROwe�on mon�hly payments of Funds.lf the '
<br /> unount of the Funds held by Lender is not suti'icient to pay the acrow items when due,BoROwer shall pay to Lender any i ;q�,:
<br /> amount necessrry to make up thedeficiency in one ar more payments as required by l.ender. ; -�+: .
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<br /> ,;;.::; Upan payment in full of All sums secured by this Stcurity lnstrument. Lender shaff promptly refund to Borrow�er • ��;_:
<br /> � `'''':'� �' �ny Funds held by Lende�.U under paragraph ]9 the Property is sald or acqu ired by Lendcr,I.ender shal)apply,no later '��.':-
<br /> �� �'•��:' • . � ' than immediately prior to the sale uf the Propeny or its acquisition by Lender,any Funds held by Lender at the time of �• �� �� .
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<br /> ,:' ' application as a credit agninst thesums aecured by this Security Instrument. '(,�'; , `:`:�'r v
<br /> � '' 3. AppUcatloa ot Payments. Unless applicable law providss othenvise,all payments received by Lende�under �
<br />' , ' ' � � ,� ' paragruphs 1 and 2 sfiall be spplied:flrst,to late charges due under the Note;s�cond,ta prepayment charges due under the ; �,�
<br /> Note;third,to amounts payeble under paragrnph 2;Pourth,to interest due;and]ast,to principal due. „
<br /> ' 4. Chu�e�Lien�. Horrower shall pay a11 taxa,assessments,charges,bnes and impositions nttributable ta the ���'. ,;;�,
<br /> '� �� �•�� � , � ',• Propeny which may attain priority over this Security Instrument, and kasehold payments or ground rents, if any. , , •
<br /> ` '�` �� �'' "�':�•�'��,•;; 8orrower shall pay these oblig�tions in the m�nner provided in paragraph 2,or if not paid in that manner,Barrower shall � .��'� : .
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<br /> � pay them on time directly to the{�erson owed payment.Borrower shall promptly furnisfi to Lender all notices of amounts � .
<br />• ' ' " to be paid under this paragra�h.ll tionower makes these paymen�a dira:tly, Barroucr sha!!pram�ily furn'ssh t�l.tnder , , ���;:, .
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<br /> �ectipts evidencing the paymrnts. ,
<br /> Borrower shall prnmptly discharge any ]ier�whirh has priority over this Security Instrument unless Barrawer:(a) ,
<br /> agrees in writing to the payment af the obligation secured by the lien in a manner acceptable to Lender;(b)cantests in goad
<br /> . faith the lien by.or defends against entarcement of the lien in,legal proceedings which in the Lender's opinion operate to
<br /> prevent the enforcement of the lien or forfeiture of any part of the Property;or(c)secures from the holder oP the lien an
<br /> ' agrament satisfactory to Lender subordin�ting the lien to this Security Instrument.IP Lender determines that any part of'
<br /> the Property is subjcet to a lien which may attain priority over this Security lnstrument,Lender may give 8orrower a
<br /> notice identifying the lien.Borcower shall satisfy the lien or take one or more oP the actions set Porth above within 10 days
<br /> of the giving of notice.
<br /> ' �; S. Huard Inwnnce. Borrower shull keep the improvements now eaisting or hereafler erected on the Property
<br /> insured against loss by Rrc,hazards included within the term"extended coverage"and any other haurds for which Lender
<br /> �equires insurance. This insurance sholl be maintained in the amounts and for the periods that Lender requires. Th�
<br /> insurance camer providing the insurunce shall be chosen by Borrower subject to I.ender's approval which shall not be i
<br /> ' unreasonably withheld.
<br /> ; All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br /> Lender shall have the right to hold the policies and renewuls.[f I.ender requira,Borrower shall promptly give to Lender
<br /> all receipts of paid prcmiums and renewal notices.In the event of loss,Horrower shall give prompt notice to the insur�nce �
<br /> � carrier and Lender.Lender may make proof of loss iPnot made promptly by Borrower. i •�
<br /> Unless Lender and Borrower otherwise agrce in wnting,insurance pmceeds sha11 h�a�plird to rcctoration or rtpair I
<br /> � of the Property damaged,if the restoration or repair is economically feasible and Lend�r's stcurity is not Drsser.ed.]'f the 1
<br /> resto�ation or repair is not economically feasible�r L,ender's security would bt lessened,thP insurance prcxeeds sn�11 be
<br /> � appl�ed to tt�e sums secured by�'�is Security Instrument,whether or not then due,with any exccss paid to Horrc�w•Pr,IP
<br /> . , Borrawer s+bandons the Prope�y.�r does not answer within 30 days a notice f'rom Lendar �hat the insurance c�rrirr has
<br /> oSered to setde a claim,t'her.Lendar may collect the insurance proceeds. Lenafer may use the proceeds to repair or restorc
<br /> � [he Propeny or tn pu��sums s�cur�d by this Securiry Instrument,whether or not then dut. 'the 30�day period will begin
<br /> when tP.+r�otice is g��en. _
<br /> l'n7est Lendtr and St�rrrw�er,therwise agree in wntmg,am appl�ca�ion of prc�ceeds t e principal shall noa trcc�ta�d or
<br /> postpe+nr a'he due datt rf the mornhl}payments referred to�n rarag.*.+phs 1 and 2 or char,�tt�th�amount of the paym�rnts.If
<br /> under paragraph I Q thr Property is acquired by Lender,Borrow•�r's right tc an.insurance policies and proceeds resulting I
<br /> from dnms+ge to 1hr Property prior to the rcquisition shAll pass to Lender to 1 he e�tent of the sums secured by this Security
<br /> Inslrumrnt immedin�ely prior to the acqw�ition. �
<br /> 6. PreservAtion and Ma(ntenance of Property;Leaseholds. Borrower shall not destroy,da�:�aga or substantially �
<br /> change the Property, •rllow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold.
<br /> Borrower shull comply wuh the provisions of the lease,and if Borrower acquires fee tule to the Propeny,the leasehold and
<br /> fa t�t le shall not merg�unless Lender agrees to Ihe merger m wriung. i
<br /> 7. Protection ot Lender's Rights i� the Property; Mortgage I�raace. If Borrower fads to perform 1he
<br />. _ ..«��e..d o........„..,���.,.,��.....1:..�k��CPruntv Inc�n�ment.nr there�;a E�¢al[�toceed�n¢lhal m:�y s�Rn�ficBntly afi'ctt -
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<br /> � Lender's rights in the Properey�such as a proceeding in hankruptcy. �ro�baie.fine c�*rr�r.er,nation or to enforce laws or " _
<br /> � reguGaeions),thea Lender ma�r d�*ac�d pay for whotever is Reces�r�to protece;he 4a1�:���+i ck¢Prupert���nd Lender's rights
<br /> � �ro�he Property. Lender's acuuns may include paymg am}swans secured trp a I�en ql;�:;;a Q�as pnorrty over Ihis Secunty
<br /> IRStrume�t,ap�+eanng m coun,p3ying reax�reable attorRtys'fees and e�otm�g nn�ha Proper�y to make repairs.Although
<br /> 1.ender m•ry ta0ce acuon under th�s p�ragnph 7.Lender dcxs not ha�e t�dvsn
<br /> � Aay aRwunts disbrirsed tr}Lender ue�der th�s paragnpL�7 shall became add�r�onal debt oP Borrow�er secured b�this
<br /> � S�c�crity Instn�rrtertt Unless Borrwwer ac�d Lem,der agtee ta c�tB,er tetms of payment,rMex amounts�hall be•rr mterest frum
<br /> the dale of dr�IOUrsenlent ar r.fte 1�Ioe�rate and Sh�I� be rayaHl�. wirh mrerect. u�on n�,t�re from LenJer ti� Botrower
<br /> tequatin�paYsrxnt.
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