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86-100597 (i- 10059?
<br />UNIHMM. C0% INA\; s Borrower and Lender c, lit ,Ilid ac -ec is
<br />1. Payment of Principal and interest; Prepayrnen, and Late Charges. Bill T'IAt:r sh.,;l prcmrptl, tax '.'}xn
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<br />the principal ofand interest on the debt evidenced m the Notr and any pr: pacmrnt an late ch a es due ,r d ! he .e
<br />w' a er by L ender. Bkllpow cr hail t ,y
<br />2. Funds for Taxesand Insurance. Subject to applicable law or to a written
<br />Lender on the day month]% payments are due under the Nor,, until the Note is paid in lull, a sum i Ftntd"" I cc)
<br />to rlc
<br />one- twelfth of: (a) yearly taxes and assessments why h may attain pnnrity o.er th Secun,v Ina a t,ni. (h)
<br />(d) ❑r1y
<br />leasehold payments or ground rents on the Property, it any. 1 se.arh hazard n urmce premiuri and
<br />"escrnu Lender may rsumatr the t ,Inds dt.c r n the
<br />mortgage insurance premiums. if any. These Items are ratted t rots.
<br />basis of current data and reasonable estimates of fut ure tscrow items.
<br />The Funds shall he held in an institution the deposits or accounts of which are insured or guaranteed h} a i�dcral or
<br />I
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay tl.e twcn �. erns
<br />or verff�Y mg the escrow item unless
<br />Lender may not charge for holding and applying the Funds, analyzing the account
<br />Lender to make such a charge. Born wcr and
<br />Lender pays Borrower interest on the Funds and applicable law permits
<br />agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicahtr Lox
<br />Lender
<br />Lender may
<br />requires interest to be paid. Lender shall not be required to pati forrower any interest or earrings on the Funds.
<br />debits to the Fund a•id the
<br />shall give to Borrower, without charge, an annual accounting of the Funds shooing credits and
<br />e h.
<br />for which each debit to the Funds was made. The Funds ;tee pledged as add,uona! Securit} for the sums sourd
<br />purpose
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Funds pa%ahle prior to
<br />items due, the excess shall hr.
<br />the due dates of the escrow items, shall exceed the amount required to pay the escrow when.
<br />Borrower or credited to Bnrrnuer on monthly payments of Funds If the
<br />at Borrower's option, either promptly repaid to
<br />amount ofthe Funds held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender an, .
<br />amount necessary to make up the deficiency in one or more payments as required b%. Lender.
<br />by this Security Instrument. Lender shall prompth refund to Borrower
<br />Upon payment in full of all sums secured
<br />Funds held by Lender. If under paragraph IQ the Property is sold or acquired by Lender, Lender Stall apply. no later
<br />any
<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 a; a credit against the sums secured by this Security Instrument.
<br />Unless applicable law provides otherwise. all payments received by Lender under
<br />3. Application of Payments.
<br />I and 2 shall be applied: first, to late charges due under the Note: second. to prepayment charges due under "'I'
<br />paragraphs
<br />Note: third, to amounts payable under paragraph 2: fourth. to interest due: and last• to principal due.
<br />assessments, charges. fines and impositions attrihutahlr to the
<br />4. Charges; Liens. Borrower shall pay all taxes,
<br />over this Security Instrument• and leasehold payments or around rents. if any.
<br />Property which may attain priority
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounis
<br />Borrower shall furnish to Lender
<br />to be paid under this paragraph. If Borrower makes these payments direct!%. promptly
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />in writing to the payment of the obligation secured by the lien in a mariner acceptable to Lender. (b) contests in good
<br />I--
<br />agrees
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate
<br />lien forfeiture of any part of the Property: or (c) secures from the holder of the lien an
<br />prevent the enforcement of the or
<br />satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />Borrower
<br />agreement a
<br />the Property is subject to a lien which may attain priority liver this Security Instrument. Linder may give
<br />the lien or take one or more of the actions Set forth above within 10 days
<br />notice identifying the lien. Borrower shall satisfy
<br />of the giving of notice.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Pri,nrrty
<br />"extended other hazards for which Lender
<br />insured against loss by fire, hazards included within the term c•ox erage" and any
<br />be maintained in the amounts and for the periods that Lender require,. The
<br />requires insurance. This insurance shall
<br />insurance carrier providing the insurance shall he chosen by Borrower subject io L.ender's approxsl which shall not he
<br />unreasonably withheld,
<br />All insurance policies and renewals shall be acceptable to ]_ender and shall Include a standard mnrtgaee clause.
<br />Borro%%ci shall pmtnpth gixe to Lender
<br />Lender shall have the right to hold the policies and renewals. If Lender requires.
<br />renewal notices. In the event of loss. Borrower shall give prompt notice to the !nsurancc
<br />all receipts of paid premiums and
<br />carrier and Lender. Lender may' make proof of loss if not made prompt h by Borrower
<br />be applied to re%ioraticin or iep.,tr
<br />Unless lender and Borrower otherwise agree in writing. Insurance proceeds shall
<br />if or repair is economically feasible and Lender',, security is not !csscned. If the
<br />of the Property damaged, the restoration
<br />or repair is not economically feasible or Lender's secunty would he lessened. the insurance proceeds shall hr
<br />If
<br />restoration
<br />to the sums secured by this Security Instrument, whether or not then due, uhh any excess paid to Borrower.
<br />ha,
<br />applied
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance earner
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds u, repair or resu,re
<br />due The 30 -day period dill begin
<br />the Property or to pay sums secured by this Security Instrument, whether or not then
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall nor extend ur
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 22 or change the amount of the payments If
<br />by Lender. Borrowers right to any insurance policies and proceeds rrsulu::,_
<br />under paragraph IQ the Property is acquired
<br />from damage to the Property prior to the acquisition shall pass to Lender it, the extent of the sums secured by this Securiiy
<br />Instrument immediately prior to the acquisition.
<br />Maintenance cif Property; Leaseholds. Borrower shall not destnn, damage .`r schsuanua!ly
<br />6. Preservation and
<br />change the Property. allow the Property to deteriorase or comma "ash if this Sccurny Ituirumcnt is on a Ica.chold.
<br />Ire talc !r, the Property. Itie leasehold and
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires
<br />fee title shall not merge unless Lender agrees u, the merger in wrung
<br />1. Protection of Lender's Rights in the Property: Mortgage Insurance. ]f Borrower fall, to neriorm the
<br />ay siiticarith sflect
<br />covenants and agreements contained in this Security Instrument, nr there is a Icg :al procerd;ng th :u m _•n
<br />laws or
<br />Lender's rights in the Property (such as a proceeding in hankruplc%, probate, for condemnation or 10 enforce•
<br />the talue rdthc Pnq,ert} and Lender's tights
<br />regulations), then Lender may do and pay for whatever is necessary to protect
<br />secured h} alien which has pnorilt ,,,er Ilia tircurny
<br />in the Property. Lender's actions may Include payuig any urns
<br />attorneys 1'ces and cimering on tlic property !,+ mekr repeirs .Ohhnueh
<br />Instrument. appearing in court, paying reasonable
<br />Lender may take action under thus paragraph', Lender does not ha%v to 01 su
<br />"shall Ieht of Ili t r wt r sec argot f y tins
<br />d
<br />L Auy amounts di"bursed by Lends r under this Para{ raph hoc ono ;add r oral
<br />Security Instrument. Unless Borrower and Lender airu to other tcrni i put rneni these unrnni , h el i,ear n icie Y: ni
<br />the date of disbursement at !lie %.,te rate and shall he {+:halite, wt'h irtc,rsi. i.; +� +r �. ..
<br />r yuc•srmg,parncnt
<br />ant
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