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Nth AN7y, Bower and Lender ccveAant and agree u follows: 87-102308
<br />mtl f l !!meat Lam �' borrower shall promptly pay when due the
<br />Pcip o Taatae aN by the Note and any prepayment and late charges due under the Note,
<br />Lander on able day month Subject co spPbcsbk last a to a written waiver by Lender , borrower :ball qty to
<br />twelfth of: he ly Payments are due under the Note, until the Note is paid in fup, a sum ( "Funds ,) elutd to one
<br />Yearly taae and sussmrntf which may attain priority over this Security Instrument; (b) yearly leasehold
<br />« ground renter on the Property Ieur any.' (cnsyetrly hazard insurance premiums; and (d) yearly mortgage Inwra�
<br />and reasonable estiama est of future eased Leader may estlmate the Funds due on the buff of current data
<br />The Farads shall be held in an�iut argon the
<br />state agency ((nchlding Lender if Lender is such an insttiittuutiion ).Leader shall apply the insurer or guaranteed i a federal er
<br />may not charge for holds PP Y Funds to pay the escrow items. Lender
<br />holding and applying the Funds, analyzing the account u verifying the escrow items, unless Lender pays
<br />Borrower interest on the Funds d o Applicable Fun law permits Learner to make such a charge. Borrower Aral Lender may agree in
<br />writing that interest shall be paid on the Funds. Unkas en
<br />Lender shall not be required to pay Borrower any interest or earnings on the Funds. iLenderlshalt give t interest er be paid,
<br />chute, an annual accounting of the Funds showing credits and debits to the Funds And the purpose give to Borrower, without
<br />the Funds was made. The Funds are pledged as additional security for the sums secured bythSecurity InstI in t.
<br />If to
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the
<br />due date of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be, at
<br />Borrower's option, either promptly repaid to Borrower or credited on monthly payments of Funds. If the amount of the
<br />Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any amount
<br />necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br />Funds held by Lender. If under paragraph 19 the
<br />immediately prior to . the sale of the Pr Property is sold b acquired by Lender, Lender shall apply, no later than
<br />application u a credit °any or its acquisition by Lender, any Funds held by Leader at the time of
<br />against the sums secured by this Security Instrument.
<br />3. Alap katlaa of Paywals. Unless applicable law provides otherwise, all payments received by Lender under
<br />Paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />g• (3keeles: LIesY. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain Priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower
<br />shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on
<br />time directly to the person owed payment Borrower shall promptly furnish to Lender all notices of amounts to be paid under
<br />this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the
<br />Payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security instrument unless Borrower: (a) agrees
<br />in writing to the payment of the obligation secured b the lien in a manner ac
<br />the lien by, or defends y ceptabk to Lender; (b) cont eats in
<br />stains[ enforcement of the lien in, legal proceedings which in the Lender's opinion o good faith
<br />the enforcement of the lien of forfeiture of any part of the Pr Aerate to prevent
<br />satisfactory to Leader subordinating Property; or (c) secures from the holder of the lien an agreement
<br />acting the lien v this Security instrument. If Lender determines that any part of the Property is
<br />subject to a Iirn which may attain priority over this Security Instrument, Lender may give Borrower A art identifying the
<br />teen. Borrower steal! satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice.
<br />S. Based fswrtnta. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by tire, haprds included within the tern) "extended coverage„ and any other hazards for which Lender requires
<br />Insurance. This insurance shag be rmailatained in the +unounts and for the periods that Lender requires. The insutder quires
<br />Providing the insurance shalt be chosen by Borrower subject to Lender's approval which shall not be unreasonably All insurance policies and renewals shall be acceptable to Lender and shall include a standard un easonably withheld.
<br />AM ISM the right to hold the policies and renewals. If Lender requires, Borrower shall prom tl i+sc clause. Leader
<br />of Paid Premiams and renewal notices. In the event of bas, Borrower shall P P t Live to Leader all raelpq
<br />Leq�• tender may make proof of loss if not made promptly by Borrower. Prompt notice to the insurance carrier and
<br />Unit= Lender and Borrower otherwise Agra in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened, if the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sum secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security
<br />the notice is given. Instrument, whether or not then due. The 30-day period will begin when
<br />Unless Lender and Borrower otherwise agree 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 01 change the amount of the payments, If
<br />under Par+VaPh 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds molting
<br />from damage to the Property prior to the ac
<br />Instrument immediate) yuisition shall pass to Lender to the extent of the sums secured by this Security
<br />y Prior to the acquisition.
<br />the Property, � M�sewce of Pra'asq; Leas ibel l- Borrower shall not destroy, damage or substantially change
<br />Property to deteriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shall
<br />comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and fee title shall not
<br />nwle unless Lender agrees to the merger in writing.
<br />7. Hrleellea of 'I � to tae traparay; M*rtgage humu ce. It Borrower fails to
<br />greementa contaitwd in this Security Instrument, or there is a kgw proceeding that may significantperform fecct the rots and
<br />the Property (arch u a Proceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then LeLender
<br />may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's
<br />actions may include Paying any suns secured by a lien which has priority over this Security Instrument, appearing in court,
<br />Paying reasonable attorney's fees and entering on the Property to make repairs. Although Lender may take anion under this
<br />Paragraph 7 Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become
<br />Additional debt of Bo"O"'et secured by this Security Instrument. Unless Borrower and Lender agree to other terms of
<br />payment, these amounts shall bear Interest from the date of disbursement at the Note rate and shall be payable• with interest,
<br />upon Mitre from Lender to Borrower requesting payment.
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