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<br />88- 105908
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<br />USIFORM CO\TSA" I' IJnrro\\'t.'r IInd lender c:o\'cmmt lInd ugree;l" folilm.,:
<br />I. PR)'mcnt of I'rlnclpul and Interest; IJrcpll)'mCnl ond l.ote ChurRcs. Borrower ..hall promptly PIIY when dilL'
<br />the prmcipal nrund inlcrc..1 nn Ihe deht c\"idc1H:cu by the NUll' und un)' prepaymellt and Inle .:hargc..lIuc: under the Snle
<br />2. Funds for Tuxcs ond Insurance. SUhJCCf tn upplil'ablc luw (1T 10 a writlcn Wlll\'Cr by Lender. Borrower !lhaJl PlI}
<br />10 lender on the day monthly PUYI11Clll.. one due under the NOlL'. uluillltc Note i.. paid in full. a !<turn ("Funds") cl{UUllo
<br />one-twelfth \If: (u) yearly tuxc!> and ll""t.~..mcnl" which mil)' attuin priority over This Security Instrument: (It) yearly
<br />leu!lchold puymcnt~ or grnund Ten" nn the Properl)', If any: (c) yea.r1y hllzard ill!>urunce premiums; lInd (d) ycarly
<br />mortgage imurancc premlum~, if uny, These itcm~ arc called "cscrow items." Lendcr may estimate the Funds due nn thc
<br />basis of currenl dala Ilnd re:l!tonable c!ttimatcs of future escrow ilem'i,
<br />The Fund!t !ohall be held in un inslilUlion the deposits or account~ of which arc insured or guarunteed by [l federal or
<br />state agency (including Lender if Lender is such un inslitution). Lender shall apply the Funds to pay the escrow items,
<br />Lender ma)' not charge for holding and applying the Funds, analyzing Ihe accDunl or verifying Ihe escrow items, unless
<br />Lender pay~ Borrower interest on the Funds and applicable law permits lender 10 make such a charge, Borrower and
<br />Lender may agree 111 wriung Ihut interest shall be paid on the Funds, Unless an agreement is made or applicable law
<br />requires interesl 10 be paid, lendc:r "hall not be required [0 puy Borrower any interesl 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 debil to the Funds \\'as made. The Funds ure pledged as additional security for the sums secured by
<br />this Securitv Instrument,
<br />If the amounl of the Funds held by Lender. togelher with the future monthly paymenls of Funds payable prior to
<br />the due dates 'Jf the escrow ,items, shall e;.;ceed the amount required 10 pay the e'icrow items when due. the e;.;cess shall be,
<br />at Borrower's option. either promptly repaid to Borrower or credited III BorfCl\Vcr on monthly payments of Funds, If the
<br />amount of the funds held by Lender is nol sufficient 10 pay the escro..... llems when due, Borrower shull pay to Lender any
<br />amounl necessary to make up the deficiency in one or more payments a!'. reqUIred by Lender,
<br />Upon payment in full of all sums secured by this Security hl!ttrumelll, lender shull promptly refund to Borrower
<br />any Funds held by Lender.lfunder paragraph 1q the Property is s{lld or ul:quired by Lender, lender shall apply, no l.aler
<br />than immediately prior to the sale of the Property or its acquisition by Lendcr. any Funds held by Lender at the time of
<br />application as a credit against the sums secured hy this Security [nstrumel1t,
<br />J. Application of Payments. Unless applicable law provides otherwise. all paymenls received by lender under
<br />paragraphs I and 2 shall be applied: first. to late charges due under the Note; secnnd, to prepayment charges due under the
<br />Note: lhird, to amounls payable under paragraph 2: fourth, to interest due: and la!'.t, to principal due,
<br />4. Charges; Liens, Borrower shall pay all taxes, asses~ments, charges, fines and impositions auributable to the
<br />Property which may altain priority. over this Security Instrumenl. and leasehold payment!'. or ground rents, if an:.
<br />Borrm..'er shall pay these obligations in the manner provided in paragraph 2. or ifnnt paid in that manner, Borrower shall
<br />pay them on lime direclly 10 the person owed payment, Borrower shall promplly furnish to Lender al1 notices of amounts
<br />10 be paid under Ihis paragraph. If Borrower makes these payment!'. directly, Borrower shall promptly Curnish to Lender
<br />receipts evidencing the payments.
<br />Borrower ~hall promptly discharge any lien which has priority o\'er thi!'. Security Instrument unless Borrower: (a)
<br />agn..'es in writing to lhe payment oCthe obligation secured hy lhe lien in a maffiler acceptable to Lender: (b) conlests in good
<br />faith the lien by. or defends agamst enforcement of the hen in. legal procl'edings which in Ihe Lender's opinion operate 10
<br />prevent the enforcement of the lien or forfeiture of any part of the Property: or (c) secures from the holder of the lien an
<br />agreement satisfaclory to lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property IS subject to a lien WhlCh may attain priority over this Securi1y Inslrumenl, Lender lIlay gi,,'e Borrower a
<br />notice identifying the lien, Borrower shall satisfy the lien or lake one or more oCthe llcliom !'.et forth above within 10 days
<br />of the givingofnolicc.
<br />5. Hazard Insurance. Borrower shall keep the imprm.emenls now eXlstmg or hereafter erected on Ihe Property
<br />InMlred against 1m!'. by fire, hazards included within the term "extended co\'erage" and any other hazards for which Lender
<br />require. insurance. Thl!t insurance shall be maintained in Ihe amount!'. and for the period!'. that lender requires. The
<br />Insurance carner providing the insurance !>hnll bc chosen by Borrower subjecl to Lender's approval which shall not be
<br />unreasonably withheld,
<br />All insurance pnlicie!'. and renewals shall bc acceptable to Lender and shall include a standard mortgage c1au!'.e.
<br />Lender shall havc the right to hold the policit.."S and renewals. If lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premium!'. and renewal nntices, In the event of loss. Borrower shall give prompt notice 10 the insurance
<br />carrier and Lender. Lender ma~' make prouf of Ill!'.~ if not made promptly by Bornlwer.
<br />Unlefols lender and Borrower otherwi:.e agree 111 wriling, insurance proceeds !ohall be applied to r~toration or repair
<br />of the Propert}' damaged, if the restoration or repair i!t L"Conomtcally feasible and Lender's security is not Icssened. If the
<br />resloration or repair is nol economically feasiblt: or Lender's !'.ecurity would be lessened. the insurance proceeds shall be
<br />applied to the sums sccured b}' this Security Instrument, whether or not then due, with an}" excess paid 10 Borrower. (f
<br />Borrower abandons the Proper1y, or does not answer within 30 days a nolice from Lender that the insurance carrier has
<br />offered to settle a claim. Ihen Lender may collect the insurance proceeds, Lender may use Ihe proceeds to n:pair or restore
<br />the Proper1y or to pay sums secured by this Securily Jnstrument, whelher or not then due. The JO.da)' pel iod will begin
<br />when the nOlice is ghen.
<br />Unless Lender and Borrower othcrn'ise agree in writing, any applical10ll of proceeds to principal shall not e:'ilend or
<br />postpone Ihe dUt" date of the monthly payment!> referred 10 in parugraphs 1 und 2 or change the nmuunt of the payment!'.. H
<br />under paragraph I Q the Pmperty is acquired by Lend~r, Borrf.'wer's right to any insurance pohcies and proc~ds rc!'.uhing
<br />from damage 10 the Propeny pnor to the acquisition shall pass to Lenuer to the extent of the sums secured by thiS Security
<br />Instrument immedialely prior 10 the acquisition.
<br />6, Preservation and :\faintenance of Pro pert).': Leaseholds. Borrower shall not destroy. damage t1r !>ubstanliall~
<br />change the Propeny. alIo\\.' the Properly to deteriorate or commit wa!\tc, If thiS Security Im.trument i!'. on a lca!o.chold,
<br />Borrower shall compl) wilh the provisions of the lease, and if Borrower acquires fee title to the Prnperty, the leasehold and
<br />fee title shall nol merge unless Lender agrees to the merger 111 writing,
<br />7. Protection of Lender's Rights in the Propert)': \fortga~e Insurance, If Borrower faib to perform the
<br />covenants and agreements cnll1aincd In Ihis Security In!'.trument. or Ihere i~ u legal pmcee:dmg Ihat mu) slgnlficant]) uffecl
<br />Lender's nghl!'. III the PrOperl} (!'.uch a.. a proceeding in bankruptC)', pTllhate. f{lr wndemnutH1f1 or In e:nfon:e luw~ or
<br />regulations), then Lend~r may dn and pa)' for whatever is nect.."Ssary to protect the \a]ue oflhe ProperlY and Lender'.. righh
<br />in Iht: Property. lender'.. actinns may include paying any sums secured hy 11 hen \\'hll:h hu,> pnonly {l\er IhlS Secunt)
<br />Inslrument, appeanng III cnurl. pa}'1I1g reasonable attorney!'.' fees and cntenng nn the Property Itl make re:pulr.. Although
<br />Lender ma} take aCllnn under tht!o p.:lragmph 7, Lender doc!'. nOI hu\.c to do..n
<br />An) llmounl.. dl"bur"ed hy Lender under Ilus paragraph 7 "hall hel'nme ,lddlllllllal ddll pf B\ll'f'P.... t'r "Ct'Ufl'd hy 1111"
<br />Secunty InsTrume:t1t l!nl~.... B(1TTO\\er and le:lIde:f agre:e In olher lerm.. llf ray melll. Ihe:..l' .111l111l\l1" ..hall hl'ilr 1111e:re..t fTtlm
<br />Ihe dale IIf dl..hur..~mcnl OIl Ihe: ',lie: rail' and ..hall he pa~al1ll', ....lIh liller,''''!. U[lllll 1ll'11U' '-fllm lel1der h' IlnrTIl\\(."
<br />requ~ttng pay menl
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