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<br /> UNtFOr,�t Co�•Ct��tiTS. Coreowe� and Lender cavenAnt and agree as fallaws: ;. ���' �o V o��
<br /> !. Payr�:n!v!Pcdael�x!a.�d Iete;cst; �re�yMent�nd I.ate Ch�rges. Borro�'icr shall promptly pay when duc
<br /> � the principal of and interest on thc debt evidenced by the I�ote and any prepayment and late charges due undcr thc Note.
<br /> 2. Funds fo�Taxa and lniuraete. Subject to Applicable Iaw or to a written waiver by Lender.Bor�awer shall pay
<br /> ta Lender an the day tnQnthly payments are duc under the Note,until the Note is paid in full,a sum('•Funds")equal to
<br /> oae-twelfth of (a�yearl�+ tanos and assessmsnts which may attain priority o�rr ehis Security lnstrument; (b) yearty
<br /> lrasehold payments or ground rents on ehe Propeny, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> mortgsge insurance premiums,iP any.These items are called'•escrow items."Lender may estimate the Funds due on the
<br /> basis orcurrent data and reasonable estimates of future�scrow items.
<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'Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br /> Lender msy not eharge for holding and applying the Funds,analyzing the accaunt or verifying the escrow items,unless
<br /> Lrnder pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. �orrower and
<br /> I.ender may agree in w�iting that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br /> requires interest to be pud, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br /> shall give to Borrowu,without charge,an s�,nnual accounting of the Funds showing credits and debiu to the Funds and the
<br /> purpose for which each debit to the Funds was mude.The Funds are pledged as additional security for the sums secured by
<br /> this Sxurity Instrument.
<br /> If the amount of the Funds held by I,ender.together with thG f»t»rr m�nthly payments flf Fun�s payabt:.pri�r to
<br /> [ne due dates ot the esctow items,shall exceed tho amount required to pay the escrow items when due,the excess shall be,
<br /> at Borrower's opt�on.either promptly repaid ta Borrower or credited to Borrower on monthly payments of Funds.If the
<br /> amotu�t of the Funds held by I.ender is not sufficient to pay the escrow items when due,Bonower shal!pay to Lender any
<br /> amaunt necessary to make up the deficiency in one or more payments as required by Lendor.
<br /> Upon payment in ful!of all sums secured by this Security Instrument. l.ender shall promptly refund to Bonower
<br /> any Funds held by I,ender.If under paragraph 19 the Property is sold or acquired by Lender.Lender shall apply,no later
<br /> than immadiately prior to the sale of the Property or its acquisition by Lender,any Funds held by I.ender at the time of
<br /> spplication as a credit against the sums secured by this Security Instrument.
<br /> 3. Apptiqtlon of Payrnento. Unless applicable law provides otherwise,all payments received by L,ender under
<br /> puagraphs 1 and 2 shall be applied:first,to late charges due under the Note;second,to prEpayment charges due undcr the
<br /> Note;third.to amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
<br /> 4• Cbu�Lie�u. Borrower shall psy all t.aaes,assessnients,charges,fines and impositions attributable to the
<br /> Property which may attain priority.over this Security Instrument, and leasehold payments or gronnd rents, if any.
<br /> BorroMer shall pay these obligations in the manner pravided in paragraph 2,or if not paid in that manaer,Borrower shall
<br /> pay them on time directly to the person owad paymen�, Anrr��,�*cha1�r.��F;Z�f�m;vk:�k�;��i�i i�a,iiCc's Oi 8mvuniS
<br /> to be psid under this paragraph. If Harrower makes these payments dirertly, Borrower shall promptly furnish to Lender
<br /> receipts evidrncing the paymenu. • �
<br /> Borro�ver shall promptly discharge any lien which has priority over this Security Instrnment unless Borrower:(a) -
<br /> agras in ariting to the payment o1'the obligation secured by the lirn in a manner acceptable to Lender;(b)contests in goosi "-
<br /> fa�:h the liea�y,or defends againss enforcement of the lien in,legal proceedings ahich in the Lender's opinion operate to � =
<br /> prevrnt the enforcement of the lien or forfeiture of any part of the Property;or(c)secures from the holder of the lien an
<br /> agrament satisfactory to Lender subordinating the lien to this Security Instrument.If Lender determines that any part of
<br /> the Property is subjxt to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br /> notice identifying the lien.Borrower shaU satisfy the lien or take one or more of the actions set forth above within 10 days
<br /> of the giving of notiee. ��
<br /> S. Haz�rd Insurance. Barrower shall keep the improvements now eaisting or hereafter erxted on the Property
<br /> insured against lou by fire,hazards inctuded within the term"eatended coverage"and any other hazards for which Lender
<br />. requira insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The ' �'
<br /> insuranee carrier providing the insurance shall be chosen by Bonower subject to Lender's approval which shall not be k�
<br /> unrasonably withheld.
<br /> A11 ir�snrance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. ,��
<br /> Lender shal!have the;ight to hold the policies and renewals.If Lender requires.Borrower shall promptly give to Lender
<br /> all receipts of paid premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance �
<br /> camer and Lender.Lender may make proof of loss if not made pramptly by Borrower.
<br /> Unless I,ender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair -
<br /> of the Property damaged�if the restoration ur repair is economicalty feasible and Lender's security is not lessened. If the
<br /> restontion or repair is not sconomically feasible or Lender's security would be lessened,the insurance proceeds shall be
<br /> applied to the sums secured by this Security Instrument,whether or not then due,with any excess paid to Bonower. If
<br /> Bortower abandor�s the Propeny,or c3acs not answer within 30 days a notice from Lender thst the insurance carrier has
<br /> offered to settle a claim,thrn Lender may co)lect the insurance proceeds.Lender may use the proceeds to repair or restore
<br /> the Property or to pay sums secured by this Security Instrument,whether or not then due. The 30-day period will begin
<br /> when the notice is given.
<br /> Unless Lender and Bonower otherwise agroe in writing,any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under paragaph 19 the Property is acquired by Lender.Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the acqnisition shall pass to Lender to the extent of the sums secured by this Secarity
<br /> Instrument immediately prior to the acquisition. .--__-- _
<br /> 6• Presenation and Maintenance o!Properf�,I.easeholds. Bonower shall not dtstroy.damage or substantially �
<br /> change the Property,a11ow the Property to deteriorate or commit waste. If this Security Jnstrument is on a leasehold,
<br /> Borrower shall comply with the provisions of the lease,and if Borrower acquires fee title to the Property,the leasehold and
<br /> fa title shall not merge unless Lender agrees to the merger in writing. �
<br /> 7. Protect{on of Lender'a Rights in the Property; Mortgage Insunnce. If Borrower fails to perform the
<br /> covenants and agreements contained in this Security Instrument,or there is a iega)proceeding that may significantly affert �
<br /> Lender's rights in the Property (such as a proceeding in bankruptey, probate, for eondemnation or to enforce laws or � �
<br /> regulations),then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
<br /> in the Property. L,ender's actions may include paying any sums secured by a lien which has priority over this Security �
<br /> Instrummt,appearing in court,paymg reasonable attorneys'tees and entering on the Property to make repa�n. Although ' c~q
<br />_ Ltnder may take act�on under th�s paragraph 7, Lender do:s not have to do so. u'.�
<br /> : Any amounts disbursed by Lender under this paragraph 7 shall become addu�onal deM of Borrower cecured by this s-
<br /> Security lnstrument Unless Borrower and Lender agree to other terms af payment,these amounts chall hear�nicrest from r' �
<br /> tht date of dtsbursement at the No�e tate and shall be payable, w�th mterest, upon nohce Rnm i.ender to A�rrnwer
<br /> � requcsting payment
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