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$p— 100832
<br />t'NI FOR %4CIIyt.\.A''IIi Borrower and Lender - _osenantandagrerasfc,ii0 ws_
<br />1. Payment of Principal and interest; Prepayment and Late Chartres. Borrower shalt promptly pay when due
<br />the principal of anti interest ou the debt es ideneed by the Note and any prepayment and tare charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a wntic • .. cr by Lender. Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is pa .0 i!. full, a sum ( "Funds") equal to
<br />one - twelfth ot: (a) yearly taxes and ass ssments which may attain priority Deer this Security Instrument: yearly
<br />(d)
<br />leasehold payments or ground rents on the Property, if any: ic) yearly hazard insurance premiums: and (d) yearly
<br />mortgage insurance premiums. if any. These items are called "e_ccrew items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of 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
<br />state agency (including Lender if lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law
<br />requires interest to be paid. Lender shall not be required to pay B mower any interest 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 />debit to the Funds was made. The Funds are p ieda• -d as additional security for the sums secured by
<br />purpose fur which each
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future month]} payments of Funds payable prior to
<br />the due dates of the escrow items. shall exceed the amount required to pay the escrow items when due, the excess shall be,
<br />at Borrower's option, either promptly repaid it, Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />amount 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
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later
<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 />paragraphs I and 2 shall he applied: first. to amounts payable under paragraph 2; second, to interest
<br />due; and last, to principal due.
<br />charges, tines and impositions attributable to the
<br />4. Charges: Liens. Borrower shall pay all taxes, assessments,
<br />Property which may attain priority aver this Security instrument. and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph , 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 amounts
<br />to he paid under this paragraph. if Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall prompt IN. discharge any lien which has priority over this Securily Instrument unless Borrower: (a)
<br />'
<br />in writing io the payment of the ohligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />agrees
<br />faith the lien hy', or defends agamsl enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />`rtciture of any part of the 11 ropertN. or (c) secures from the holder of the lien an
<br />prevent the enforcement of the lien, o c
<br />satisfactory to Lender luhordinaung the lien to this Security Instrument, If Lender determines that any part of
<br />„agreement
<br />the Property is subject to it hen which rnsy attain pnority over this Security Instrument. Lender may give Borrower a
<br />notice identifying the lien. Borrower ]hail satisfy the lien or take one or more of the actions set forth above within 10 days
<br />of the giving of notice.
<br />5. Hazard insurance. Borrower shall keep the improvements MINN cusung or Hereafter erected on the Property
<br />insured against loss by fire hazards imaudcd within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance Thos insurance shall he maintained to the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the Insurance shall he chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonabiy withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include it standard mortgage clause.
<br />Lender shall have the night to hc.:1d the policies and renewals. If Lender requires. Borrower shall promptly give to Lender
<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 prampciN by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged. if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />is feasible or Lender's security would he !essened, the insurance proceeds shall be
<br />restoration or repair not economically
<br />applied to the sums 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 it notice from Lender that the insurance carrier has
<br />offered to settle a claim. then lender ma} collect the insurance proceeds. Lender may use the pnxeeds to repair or restore
<br />the Property or to pay sums secured h} this Security Instrument, whether or not then due The 30 -day period will begin
<br />when the notice is given
<br />Unless Lender and Borrnu rr tither —w agree in writing, any application of proceeds io principal shall riot extend or
<br />postpone the due date of the "n,-Whh pi!}rncnts referred to in paragraphs 1 and _' or chance the amount of the payments. If
<br />under paragraph 1Q the Pn,prrtc Is acquired by Lender. Borrower's right tai ant a sir cr I tittles and proceeds resuiung
<br />from damage u, the Propert} prior to the acquisition shall pass to Lender io the emcn, \ f tilt writs soured he this Security
<br />Instrument immedtaiely pn,.,r to the aiqulsitu,n.
<br />6. Preservation and Maintenance of Property: Leaseholds. Borrower shall not destroy, damage or suhstannallc
<br />change the Property, ai!ow the Proper;% to deteriorate or commit waste if' :fus Sr.unn Instrument is nn a le:aschi+ld.
<br />K-aru ;wer shall compi% with the priniswns of the lease. and if Bnrrtxver acquircl ire chic en the Pnlperty. the Icase•hoM and
<br />fee title shall nisi merge unless I ender agrees to the merger in writing
<br />Protection of Lender's Rights in the Property.. lortgage Insurance. If Bnrnnsrr [;ills to perfi,nr. .he
<br />,renanls and ae_ arnients c,� ;itainea m this Sccurrc lnstrumcnt nr there• is a legal pr.,ecedot� that may agn:tiCaIith affect
<br />Lender s rlthil :n !h: i'n pert\ .;el: as a p ro,t -cding .n hankruptcy, prnhaw. Gv . mdenination ,.r to cnlo ce law, or
<br />'el:llla I Ss !. ihcr 1 n''c n Et. aT 11 1, it.'ellar\ 10 l'tt tell he \ allot .! tit, Pr',pertt aril: l ender 1 iigh!s
<br />it; it a 1 : p, ^rt\ ! tar s t n IM '.V pav Ing ari1 :urns seuirul' \ A , i \1 61". ti has prtnrlt\ oler tins secur.ts
<br />Instrument ahpa ar,r.t 1171 e er i•. u.• Ine\1' !ens and :t t Im12 on .I , [or, rcr niake• repair AIIIII�11 1
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