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<br />gs_ 102388
<br />Gtitl oRN CUCtas%TS Borrower and Lender cnvrnaeu -end agree its f(,Iluw.
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall pr,mpth p:tc •.then ;fur
<br />the principal ofand interest on the dcht evidenced by the Notc aced arts prepayment and We charges glue under the Note
<br />2. Funds for Taxes and Insurance. Subject to apphcahle law or tai a written waiver by Lender. Bit; rewer ,hall pay
<br />to Lender on the clay monthly payments are due under the Note. until the Note is paud in full. It sum ("Fund, ") equal to
<br />one- twelfth of: (a) yearly taxes and assessments which ma} affair) priority over this Securit } Instrument: ibi ycarly
<br />leasehold payments or ground rents on the Property, if any: (c) }'early hazard iusur:o:ce preruiunts: and W) crack
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender ma_v estimate tilt: Funds due (',it the
<br />basis of eurrent 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 he 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 It charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable Iavv
<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 Borrow•c:, without charge, an annual accounting of the Funds showing credits and debits it) the Funk and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sum, secured be
<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 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 Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lendr, 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 file 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 ifie
<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 to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if arty.
<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 amounts
<br />to be paid under this paragraph. If Borrower makes these payrenis directly. Borrower shall promptly furnish 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 opt non operate to
<br />prevent the enforcement of the lien or :orfeiture of any part of the Property; or (cl secures from the holder of the lien at'.
<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 over this Security instrument, Lender may Borrower a
<br />,give
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth ahme within 10 days
<br />ofihe 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 coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for file periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold 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 proofof foss 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 economically 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 be
<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 a notice front Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. rile 30 -day period will begin
<br />when 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 due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments- If
<br />under paragraph 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 10 the extent of the sums secured by this Security
<br />instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Burrower shall not destroy, damage or substantialh
<br />change the Property, allow the Propeny to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee tale to the Property. the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger tit writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance. if Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument. or there is a legal proceeding that may signtic;uttly affect
<br />Lender's rights in the Property (such as a proceeding in hankrupt:y, probate, for condenueauon or I,, enforce taws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value oi'the Property and Lender's right,
<br />in the Property. Lender's action -nay include paying any sums secured by a lien which has pnorety Weer tilt, Security
<br />Instrument, appearing in court, paving reasonable atiorncys' fees and cnlering on the 1'roperty to make repairs. Although
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<br />Lender may take action under this p trtgraph ?. Lender dos not have to do so.
<br />Any '
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<br />antoutns disbursed h} Lender under this paral,taph shall become addnt„nal debt of Burr,,,%ct secured h\ tln,
<br />Security instrument. Unless Borrower and Lender agree to oilier terms of ],aynicnt. thc,e annnnrt „hall hear inicrc,t Prom
<br />the date of disbuncrncnt al file Nofc rate and shall he p:eitahlc, wuh uucrc,I. retau ?wn,r Ilan i "Ild"I i;• Ii„it ;,tvcr
<br />S
<br />requesting payment)
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