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86-- 101577 ,.....• 10f820
<br />Lender pays Borrower interest the Funds and applicable !aw permits Lender to make such <i charge, Bat rower and
<br />Lender may agree in writing that interest shall he paid on the Funds. finless an agreement is made or applicable law
<br />requires interest to be paid. Lender shall not be required to pay Borrower 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 />purpose for which each debit to the Funds was made. The Funds are pledged as additional secunty for the sums secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly 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 clue, the excess shall be,
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amount of the Furds 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 ail 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 be applied: first. to late charges due under the Note: second. to prepayment charges due under the
<br />Note; third, to amounts pavabie under paragraph 2; fourth, to interest due: and last, to principal due.
<br />s, Charges; Liens. Borrnwrr ,hall pav all [axes, a <sessmen :s, charg., tines and impositions attributable to the
<br />Property which may aEiattl artonty ever this Security Instrument, and leasehold payments or ground rents, if any.
<br />&-)rrower shall pay these obh?' ations in the manner provided in paragraph 2. or tf not paid in that manner. Borrower shall
<br />pay them on time directly to the ;:cr or owed payment. Borrower shalt promptly furnish to Lender all notices of amounts
<br />to be paid under this paragrapt•,. if Fs„rrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharee anv lien which has priority over this Security !nstrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender: (b) contests in good
<br />faith the lien by, or defends against enforcement of the lien m, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property: or ((:) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may attain priority :suer :his Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. B( :rrower shall satisfy the lien it ,ake one or more of the actions set forth above within 110 days
<br />of the giving of notice.
<br />5. Hazard Insurance. Borrower shall kecp the improvements new exunng or hereafter erected on the Property
<br />insured against 'joss by tire. hazards included within the rernr "zxie ^.ded • o.er age-' and anv other hazards for which Lender
<br />requires insurance This insurance shall be maintained in the aminanrs and (fir the i er.ods ,hat 1._cnder requires. The
<br />insurance carrier prow +.ding the surince ,hai! be chosen tiv Bor*fiwer ,Ubiec- Lendcr s appro.ai which shall not be
<br />unreasonabiv withheld.
<br />All insurance poiictes and rencwais shall 'fie acceptable in Lender and shall !ru hide a srindard mortgage clause.
<br />Lender shall have the right to old the pr.itctes and renewals. If Lender requires. Bo m,,%er sha:! prompt!} 11 - to Lender
<br />all receipts of paid premiums and renewal notices. In the event of icss, Borrower shall 2;.e prornat notice io the insurance
<br />carrier and Lender- Lender may make proof o' loss ;fnot made prorn,,t!v by Bormwer
<br />Unless Lender and Bormwc r > .cr c sr izrce w r7t: gz nsur- ce roc Lds sha!i :,e appncd !o restoration or repair
<br />o f f the Proper,% damaged. , the restoratic n Or -.epal, s e. N ornIcally teasinie and Lender s �ecunr, is not lessened. [(the
<br />restoration c..r repair is nut ecom7mic ;tli•, feasthlc or L.erder's securtt'; would he lessened. [tie :raurance proceeds shall be
<br />applied to the sums secured by this Securer, Instrument, wi[ether or not then due, will, any excess paid to Borrower. If
<br />Borrower abandons the Property. or does nor answer within 0 days a noucc from Lender that the insurance carrier has
<br />offered to setite a claim, then Lender rnav : :,oi!ect the msurar7c v crocee.is. Ler:der nde axe the proceeds to repair or restore
<br />the Property or to pay sums secured : ^r tuts Serur;n' Insrra tent. whether ,�r not'he.n. rue The t"7 -da% period will began
<br />when the notice is gi•�en. - -
<br />Unless Lender and Borrower othrrwisc agree in writing, 11;1q apphcar!un,.f pr„ceecis to prnc.pai ,hall not extend or
<br />postpone the due dare of the monthly payments referred [ ;n paragraphs ' and 2 .tr :hanee the amount of the payments. If
<br />under paragraph 19 the Property !s acquired he Lender, Borrower', right to an} insurance pohc!es and proceeds resulrme
<br />from damage to the Property prior ro the'acgWsawn snaii pass ti) Lender co the evteru r.; the sum, wt:ured by this Security
<br />Instrument immediately prior ro the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds Borrower snail not destroy, damage or substantial]%
<br />change the Property, allow the Property to deteriorate •:;r commit waste. if this Secunty Instrument is on a ;easehr,Id.
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee rule to f he Property. the leasehold and
<br />fee title shall not merge unless Lender agrees t;; the merger in Ariting.
<br />7. Protection of Lender's Rights in the Property; Stortgave Insurance. If Bc rr<iwer fails r;, perform the
<br />covenants and agreements contained to this Security Instrument, or there is a kraal proceeding rhai may significantly affect
<br />Lender's rights in the Property (such as a proc�edme m hankrupic_v. prnhate. for cnndemnaror. ;;r t._, enforce rows or
<br />regulations), then Lender may do and pay for whatever's necessary io protect [lie salue,)f the property and Lender'-: nahts
<br />in the Property. Lenders actions may include .ayrng air. s :rrs > .;:red by a 1!en %rich has pr or:ry .>.rr the; Secnrrn
<br />Instrument. appeanr.g in COurt. ; , -1g reasonable atiornc.s' fees and c tin it7.^ ;n: the P:rperr, to make repairs Alit
<br />Lender may take action under thts paragraph Lender does rx t `7 a.• 'r dc' «,
<br />Any amounts disbursed by 1 ; %ler antler this paragraph ,hal !r grits a u.,a.a! ;c,t ; f i }. recover secured ov th;s
<br />Securtty Instrument Lnles -. Borrower and Lender agree !_o 'thee !errns of I?ay tr.ent. these .int,iu:;rs grail bear rnrerest fFom
<br />the date of disbursement at the Noic rate and shall be pa,a lc, koh uueres;. up,�n nevi e I'r.nm !_cndCr !o Borrower
<br />requesting payment
<br />If Lender required mortgage insurance as a condition tit making tic an second h. trio Secur!is Instrument.
<br />Borrower shall pay the premiums required to maintain the insurance in erred until such fie as the requirement for t,,.
<br />tRSUraRCe t�frt[tnaltS to ;iCCr?C {larLCC wit h
<br />Borrower'-,and Lender's written agreen c . 'r al pli able i rw ~'•
<br />A. Inspection. Lender or is igen ma;: make reasc nahle entries upon and :rsoec t iris ; :lie t roperri, I coder
<br />shall give Borrower ,once at ttic rime _; OF prior ro an inspection pcctf s F reas:.e a gic roc sa. for ihe
<br />9. Condemnation. T',:e t r_,L ecds ,t any award it ::la!m 1,,r •tat lies. '!sect . r c Us qucnt ai, .n
<br />an} ;ond -nnat inn rr ti,lhcr taking f :ray tar :'f he Props ,
<br />assigned and 0 ill !.e paid tw, (.cr:aer
<br />In 1!e Vent of a .xkiniz -' the P r,er, r r
<br />Insin writ .�fle rr. a 7c t tl,, f .r x'rl a s .. p :inn•. . ••.a
<br />:nfr%s rise w,r )114!
<br />tie
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