|
Is
<br />'87 -100680
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lend,•r. Borrower shaii ,,,vy to
<br />Lender on the day monthly payments are due under theN,a, until the Note is paid in full, a sum ( "Fund,,"lvquattoone- twelfth of: -
<br />W yearly taxes and assesisments which may attain priority over this Security Instrument- t b) yearly lcasehol I payments or i s ound
<br />rents on the Property, if any; (c) yearly hazard insurance premiums. and (d) yearly mortgage insurance premiums. if ;u,t 'i liv v
<br />items are called "escrow items." Lender may estimate the Funds due on the basis of current data and reasonable estunates of
<br />future escrow items.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state
<br />agency{ including Lender if Lender is such an institution). ta- ndershal lapp2ythe Funds to pay the escrow items. Lender may not -
<br />charge for holding and applying the Funds, analyzing-the account or verifying the escrow items. unless Lender pays Borrower
<br />intereston the Funds and applicable law permits Lender to make such a charge. Borrower and lender may agree in writing that
<br />interestshali be paid on the Funds. Unless an agreement is madeorapplicablelaw requires interest to be paid. Lendershan tier be
<br />required to pay Borrower any interest or earnings on the Funds_ Lender shall give to Borrower, without charge an annual
<br />accounting of the Funds showing credits and debits to the Fiends and the purpose for which each debit to the Funds was made. The
<br />-Funds are pledged as additional security for the sums secured by this Securiiy* Instrument
<br />I ithe amount of the Funds held by L ender, together with the future monthly payments ofFunds payable prior to the duedatim
<br />of these escrow items, shall exceed the amount required to pay the escrow items when due the ex ss shall be, at Borrower's
<br />option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds
<br />held by Lender is not sufficient to pay the escrow itemswhen due. Borrower shall pay to Lender any amount necessary to maize up
<br />the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of alt sums secured by this Security Instrument_ Lender studl_promptly refund to Borrotseraity Funds
<br />held by L ender. If under paragraph 19 the Property is sold of acquired by Lender, Lender shallappfy, no later than immediately '
<br />prior to the sale of the Property or its acquisition by Lender. any Fands held in Lender at the tine of appl cation as aeredi€ against
<br />the sums secured by this Security Instrument_
<br />3. Application of Payments. Unless applicable law prm ides tgherw rse. adl pay means nemived 6y Lender under para�tra)g
<br />I and 2 shall be applied: first, to amounts payable under paragraph 2: serosi to interest clue. and last, to principal due
<br />r.
<br />¢. Charges. . Liens_ Borrower shall pay all taxes. asse smen s, cttttrg�, fiaea and impositions attributable fin the F' DPWW
<br />which may attain priority over this Security instrument°and ieasehoid paymeamor ground rents, if any_ Borrowershall pay these!
<br />obligations in the manner provided in paragraph 2; or if not paid in that manner. Borrower snail pay . them on timedirectig tothe
<br />person owed payment. Borrower shalt promptly furnish to Lender all notices of amounts to be paid under this passer; . If !
<br />Borrower makes these payments directly. Borrower shall prtunpily furnish to Let et er receipts evidencing the payments.,
<br />ent:�
<br />Borrower shall prom p itlydischargeanyienwhichhaspruuitgover this Security instrument unless Borroxer _cal agrees in
<br />writing to the payment of the obl i gation secured by the lien in a manner act�eptabie w Lender-. in goad faith The li m b3,
<br />or defends against enforcementof the lienin,, legal proceed i opts . chicz. rti the iessder' supimionoperaw ,to prevent theeaaloree t
<br />of the lien or forfeiture of any part of the Property. or let secures from the fsrs%der of the lien an agreement satisfactory, to Lender
<br />subordinating the lien to this Security Instrument: If lender determines that oat any part of the Property is subject to x lienwhich '
<br />rosy attain priority over this Security Instrument. Lender may g', iiorroweranotire ulentifying the lien.Borrower shail satisfye
<br />the lieu or take nor or more of the actions Beet forth at*wv w1thm lit drys of the giving of;rtotice_
<br />b. Hazard Insurance. Borrower shall keep the improvement` now exiAm ur hereafter erected on the Propc�t+,r insured
<br />against loss by fire. hazards included within the term "eateade d tiiveraW and my other hazards for which lAnder requiris--
<br />zatstirance, This insurance shall be maintained in the amounts and for the permidsi3sai'L ender requirm The insurance faaXme:
<br />ISaYw ding the insurance shall be chosen by Borrower subject to Lender's approval which shall last be unreasonalYly scit�_
<br />AIt insurance W ones and renewals shall be acceptable ti; tender and shall includea standard mortgagt clause- Leniiiki-skidl
<br />have the right to hold the policies and ren,rwals if Lender r +wg rc a , Rorrower aA1I promptly gisv to Lender alt recetcat ofy. d
<br />miitttsandrer wa tvt.tes.Intl�,tevrrs fl P�rrcrvs l r eyar rpt ,cwtatitrsnstea ta- ersrxterder.i r
<br />may r ant•° proof of loss - -:.it made prompt ry B(irrouer.
<br />Unless Lender and Borrower otherwise agree.[, writing, msurance proexm _ts hull 'be, applied to restarationar repaeruf t-h
<br />a3,.��.t d=, ri��r,, trreresjarstt _uts�?rre,.a.r:_.� ^c =sricaa ?; fee.= _iiilea�?i��as+.i._�'��rztt -treat lea�-er�z=iitlee- e- .e;rzt;e���x ,
<br />repair is titer rconomwally feaaibie or tender's ecuruy would le _ i_ tFe end canoe grrcc is sitsil he tippled xr o tr - r
<br />{ secured by this S*curity Instrument. whether or not then clue, wim any ear's pwil to, B "rower. If Borrmwrr sham kkm t-ne
<br />Property. or does not answer -within :Ill clays a notice from I— rider that hr is su; mce carrier teas offered to -e t a claim: is
<br />Leesdermay,) iec:theinsuranceprucec3ti,- Gender rays;se restoire tnePropertyurtopal .>- srrt by this Set.irity Instrument. whether or not then d:;e. The ao-da? per" will 'sE n wueL- the notice is giver,
<br />l` nie i, Lender art! Borrower uiherwise agree inwrsing,antiapp? careen +f rose :o pr*. ncipal <e:t3 not extend cry.5szq.tw
<br />the due date oft he month lypaprienta referred Zosn paragraphs Iand arnaunt,ifth payrnrcts Ifunderpaxagmwh,
<br />l the Pro perty. tacyusredbni .en:'er.Borrc.s+er'srt9hIloan_ i r _saoV put z ca pnXVld :es- otenir from amatc the
<br />Property prior to the acquisition shall pass to Lender to the extent of the sums setur� -I by th i" Sryuri- I r strumlmt imnsediaw ;!-
<br />prior to the ;i-',gti.bit on.
<br />6, Preservation and biaintenan- eefPropert}:1.,easeholds, Borroweri;ialiratdr . s e,,is :save s:iies u a = axle
<br />the Property- allow the Property to deteriorate ur commit waste. If this Security: Iizs -Ument 13 on a le-a_Seli'oiit Borrower .h
<br />-
<br />comply � n h o7e provtsuins of the lease, and if Borrower- air ;pine ft*e ttt,tt-o the Prot rt _ the leasow4d and Fr} t;tlez.a� -}..
<br />merice unless Lender agrees to the merger in writing,
<br />7. Protection of Lender's Rights in the Property: Mortgage Insurance_ If %1.41ower fa:6 iii perform. the cei%e .r an',t
<br />agree rnents contained in this Security Instrument -or there isa legal proceeding that may sai<rmfscanityaffe; t Lender';: right : tit
<br />the Properly i such as a proceeding in bankr.iptcy, , probate, for condemnation or to enforee la+v4 of reel =fall :+ns j, then Lender rna_a
<br />do and pay for w haLe-.,tr is necessary to protect the vh'i at of the Property and Lender's rights in the Property f.ender'sactin-.nk:tx`
<br />include paying any sums secured by a tier. which ha- Priority over this Sevanty Instrument, appearing in court. payis;;r
<br />reaaxrnaltle attnrney'. fees and entering +,n otse
<br />Properly it, make repairs,. Although Lendernnav Lake action under this paragraph
<br />Lender d,c�- not haw to zit, so.
<br />tj»
<br />Any a7ri untsdisburudbyl. ender under tall-.nar i},rA }h' l t,t�t� a'Fai -t ria�. -'• ai rrm% r r db, this r
<br />in trunivnt t, r ,+ Born— r and lender .,rrx.e to ,.tie., tvrt . cf prat , ! _ 1!1t .rs..a'i,ti, , hali lwr,! 'nte.e f i+ni .'cis .talc -
<br />1 ±rt} r
<br />it t, iwi' nt!e' Ai 1 I `t(' he vi abtir. with inters"" ill:, n tr t s i c a r rri+es r n), t a4 #
<br />l °l n:ie r ywi+dniarti rye it ,rlistiateta {iris tt i tits t re- .+ r _ c tt , vviinl li Brit Is r ro
<br />;=ar ch, min she.., to sn. <.r il: '+� �ti e•((i�t i ....t,1 GIs. ?, z . #.. , t,._..:w. a .7tt i "or e it -
<br />-
<br />iFnG
<br />n It+,i, •t'twlib
<br />
|