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F
<br />-- 106two
<br />11NiPARM CQYkMANTfi. grower and hander covenant and agree as `ollol�FFAweF shall pfamptly pay when due
<br />I. payment of Principal sad Interest; Prepayment and Late
<br />and late charges due under the Note.
<br />the principal of and interest on the debt evidenced by the Note avid any Pfepayment
<br />low written waiver
<br />Z. Faft in full, a earn ("Funds") 04441 to
<br />sly i
<br />merits are dug under paid
<br />d%y monthly I yearly
<br />to an the day mothly ICY
<br />which may attain priority over this
<br />iuru d (4)
<br />owtwe�h of: (a) yearly taxes and ments a Pr
<br />lassabold payments or ground rents on the Property, if any: (c) Yearly ha9ard insurance premiums: and (A} yearly
<br />if These items are called escrow items." Lender may estimate the Funds due on the
<br />mortgage insurance premiums, any.
<br />basis ofeurretelt dos and reasonable estimates of future escrow items
<br />institution the deposits or accounts of which are insured or guarantor by a federal or
<br />The Funds taina8 be heeded in an the Fund,
<br />state y (including Lender if Lender is such
<br />ho Funds, sooty the account or verifying ; to pay the he escrow items, unless
<br />Lender may not c for holding and apply in
<br />Lender pays Borrower interest on the Funds and applicable law Permits Lender to make such a ,bongo. Borrower and
<br />is made or applicable law
<br />Lender may agree in writing that interest shall be paid on the funds. Unless an agreement
<br />requires interest to be paid Lender shall not be required to pay Borrower any interest or earnings on the Funds. Fender
<br />credits and debits to the Funds and the
<br />[hall give to borrower, without charge, an annual accounting of the Funds showing
<br />Funds was made. The Funds are pledged as additional security for the sums secured by
<br />purpose for which each debit to the
<br />this Security Instrument. to
<br />der, together with the future monthly payments of Funds paxacess shable
<br />If the amount of the Funds held by Len be,
<br />items when due, the e a
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow
<br />Borrower's option, either promptly repaid to borrower or credited to Borrower on monthly pay Funds. [f she
<br />due, Borrower shall pay to Lender any
<br />at
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when
<br />in more as required by Lender.
<br />amount necessary to make up the deficiency one or payments
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />any Funds held by Lender. If under paragraph
<br />than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />to charges due under the
<br />paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, prepayment
<br />under paragraph 2; fourth, to interest due; and last, to principal due.
<br />to attributable to the
<br />Note; third, amounts payable
<br />4. Liars. Borrower shall pay all taxes, assessments, charges, fines and impositions
<br />this Security Instrument, and leasehold payments or ground rents, if any.
<br />Property which may attain priority. over
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />Borrower furnish
<br />pay them on time directly to the person owed payment.
<br />payments directly, shal promptly furnish to Lender
<br />to be under this paragraph. If Borrower makes these pay Y•
<br />Al
<br />paid
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />in acceptable to Lender; (b) contests in good
<br />a _
<br />agrees in writing to the Payment of the obligation secured by the lien a manner
<br />proceedings
<br />lien
<br />of the !part
<br />faith the liar by, or defends against enforcement an
<br />of thelPro or (c) from therholder of he
<br />the enforcement of the lien or forfeiture of any pa Property; ( )
<br />If Lender determines that any pari of
<br />prevent
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument.
<br />may attain priority over this Security Instrument, Lender may give Borrower a
<br />the property is subject to a lien which
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />included within the term "extended coverage" and any other hazards for which Lender
<br />insured against loss by fire, hazards
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />subject to Lender's approval which shall not be
<br />insurance carrier providing the insurance shall be chosen by Borrower
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Borrower shall promptly give to Lender
<br />Lender shall have the right to hold the policies and renewals. If Lender requires,
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />Lender's security is not lessened. If the
<br />of the Property damaged, if the restoration or repair is economically feasible and
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />due, with any excess paid to Borrower. If
<br />applied to the sums secured by this Security Instrument, whether or not then
<br />does not answer within 30 days a notice from Lender that the insurance carrier has
<br />Borrower abandons the Property, or
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />due. The 30-day period will begin
<br />the Property or to pay sums secured by this Security Instrument, whether or not then
<br />when the notice is given' application of proceeds to principal shall not extend or
<br />Unless Lender' and Borrower otherwise agree in writing, any app ' P
<br />referred to in paragraphs t and 2 or change the amount of the payments. if
<br />postpone the due date of the monthly payments
<br />paragraph 19 the Borrower's policies secureed by th s Security
<br />acquired s hall o Lendertto the extent of the
<br />'
<br />arty prior to pass
<br />from damage to the Property p
<br />from
<br />Instrument immediately prior to the acquisition.
<br />4, prewvstkm amt Maintenance of Properir; Lesseholds. Borrower shall not destroy, damage or substantially
<br />if this Security Instrument is on a leasehold,
<br />change the Property, allow the Property to deteriorate or commit waste.
<br />Harrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7, of ,g R� in the ply; Mortgage Imarance. if Borrower fails to perform the
<br />that may significantly affect
<br />- -°
<br />covenants ad agreements contained in this Security Instrument, or there is a legal proceeding
<br />Lender's rights in the Properly (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or
<br />the value of the Property and Lender's rights
<br />regulations), then Lender may do and pay for whatever is necessary to protect
<br />in the Property. Lender's actions may include Paying any sums secured by a lieu which has priority over this Security
<br />on the Property to make repairs. Although
<br />Itasrument, appearing in court, Paying reasonable attorneys' fees and entering
<br />Leader may take action under this paragraph 7, Lender does not have to do so.
<br />7 become additional debt of Burrower secured by this
<br />Any amounts disbursed by lender under this paragraph shall
<br />from Lender interest
<br />Security Borrower and Lender agree to other Bxrowaer
<br />not
<br />of disbursement at and shall be payable, with interest. upon notice
<br />requesting: payment.
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