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<br />U.NI FOR N CrAI V %%Is Borrower and Lender cutir nt nand agn 86 �U441 �
<br />:e is 11,ih,as.
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptl p:r% whcri duc
<br />the principal ofand interest on the debt evidenced by the Note and anx prcpattnent and late i h:trgr, due under the N,Ite.
<br />Z. Funds for Taxes and Insurance. Subject i".1ppliicabfelaw irt,awrittcnwaiserhy Lender.13m owershallpa%
<br />in Lender on lire day monthly payment, are due under the K, ee. until the Note is paid in full, a sum !••Fund, "i eyual TO
<br />one - twelfth of: (a) yearly taxes and assessments which ma, attain priority over this Security Instrument: (lip pearl%
<br />leasehold payments or ground rents on the Property, it ant, to venrly hazard insurance prenmums, and ldl yc:Irly
<br />mortgage insurance premiums, if any. These items are called 'escrow urns." Lender mar estimate the Fund, clue on the
<br />basis ofcurrent data and reasonable estimates of future escrow items.
<br />The Funds shall he held in an institution the deposits or accounts of which are insured or gum anteed h% a federal or
<br />state agency (including Lender if Lender is such an institution). Lender ,hall apply the Fund, to pay the escri,w item,.
<br />Lender may not charge for holding and applying the Funds, analyzing the account or %crifying the escrow iterns. 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 Fund,. L'nless an agreement is made or applicable law
<br />requiref .'nterest to be paid, Lender shall not be required to pay Born,wer any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds,howine credits and dchit, to the Fund; and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for tile,Ilrns 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 due, the execs, shall he.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. 1f the
<br />amount of the Funds held by Lender is not sufficient to pay the "crow items when ace, Borrower shall pay to Lender any"
<br />amount necessary to make tip 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 ti Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, nu 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 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 />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable In the
<br />Property which may attain priority over this Security instrument, and leasehold payments or ground rents, if any.
<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 ui Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes ifiese payment, directly, Borrower shall promptly liu'nish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument 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 in, legal proceedings which in the Lender's opinion operate ul
<br />prevent tine enforcement of the lien or forfeiture of any part of the Property: or (c) 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 pan of
<br />the Property is subject to a lien which ma, attain priority user this Security Instrument. Lender may gne Borrower a
<br />notice identifying the hen. Borrower shall satisfy the lien or take one or more of the actions ,et forth above within 10 dais
<br />of the giving of notice.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended co% rage" and any other hazards for which Lender
<br />requires insurance. This insurance shall he maintained in the amounts and for the period, that Lender requires Fhe
<br />insurance carrier providing the insurance shall be chosen by Borrower subject lo Lender's apprrwal which shall not he
<br />unreasonably withheld.
<br />All insurance policies and renewal shall be acceptable to Lender and shall include a standard morlgagc clause.
<br />Lender shall have the right to hold the policies and renewals. If Lcnder requires, Borrower shall promptly gl" to Lender
<br />all receipts of paid premiums and renewal notices. In the went of loss, Borrower ,hall <,i%e prompt notice to the insurance
<br />carrier and Lender. Lender may make proofof loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall he applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economicaliy 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 he
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any" excess paid to Bonow"er. If
<br />Borrower abandons the Properly, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />ofrered to settle a claim, then Lender map collect the insurance proceeds. Lender may use the proceeds to repairer restore
<br />the Property or to pay Burns secured by this Security Instrument, whether or not then title. The 30 -day period will begin
<br />%lien the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the duc date of the monthly paynents referred to in paragraphs I and 2 or change the amount of the payments It under paragr -,iph 19 the Property Is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the Nunn" secured by tilt, Securiti
<br />Iustrunient immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower ,hall not destr,ty, damage IT suhstannall%
<br />change the Properly. allow' the Property to deteriorate or commit waste. if this Sccunry In,trunicnt I, nn a lva,chold.
<br />Borrower shall comply wills the proytsions of the !case, and if Borrower acquires fee title tt, the Property. the leasehold 11111
<br />Fee title shall not merge unless L.endcr agrees to tine merger in venting
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance, If BoIr,mier f;ul, t„ Iml:a "ni the
<br />covenants and agrcernents,;ontained In this Security instrument. or there 1, a kcal proicetimv. that 111:1% signilicaIllk aftrrt
<br />Lender's rights in the Prolerly tsuch as a proceeding rot hankrupicy. probate. fist cornfcnutatr,li or TO 1001,c laws nr"
<br />regulators), then Lender niay do and pay fior whatc%cr is necessary to prole: t file ,;due of the l'n open% anti I enders riefu,
<br />in life Property. Lender's aelion, clay include paying an% sunl „crured by ;1 lien winch ha, 1'11,nu1 ,,,er tills S,cuni,
<br />Instrument, appearing in court, payllig reasonable anorneys' fees :end entcnrtg nn the 1'111pertt 11 ni,lke
<br />(_ender may take action under Ihr. p 1r e ;apt 7, I coder doe, not h ne t,• do so
<br />1ny amount, dtshuruti h5 1 n Ie! undo this par a) aph hall ha ;nr ada,u, n ;I :Icy,; "•f ik,” , c,., i _ I , i ,,s
<br />Security Instrument L'rile„ Bu low rand I t n Ice aFrcc to other !erne, ,! pn 111crif h • .u, , , i, .h ., l h, r 'u , n 1ti
<br />the plait of ili NIT nr,cint nt ,n Ihr \, ;e ra!I r ,1 it! ,slit he t Ihlc. , ih n, t,,'st. •,i, . .i: , . ',, ! Ii ur ifs¢{
<br />reiliw Nting lay IIY'11i {L {
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