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Um oRmcovtvANIS borro %cr and LtndcrccrvcranI and sir a,?.stirw, QGe j 102577
<br />1. Payment of Principal and Interest; Prepw ment and late t barges. H, river s1 R- promptly pan wficu due
<br />tfle principal nl'and intercwt on rite debt etidenced by the Noic and any prepayment and !.i =.. chase, dae wader the Noie.
<br />2. Funds for Taxes and Insurance. Subject toapplicahie law o u? a written waiver by Lender. Ht rrrnvcr sha11 pac
<br />to Leader on file day monthly payments arc due tinder the Note. until the Nine is paid in full. a sum t f=und, "l ccual To
<br />one-twelfth ,&, (al yearly taxes and assessments which coat. artain priority over this Security Instnnniew. (hi vearl-
<br />Ieaschold payments or ground rents oal the Property, if arty: tcJ yearly hazard Insurance premiums: and (d) } °trly
<br />mortgage insurance premiums, ifany . These items are called "escrow items." Lender rn:ay c,trmatc the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall he held in an institution the deposits or account, of witch are insured OTgUlLranived by it federal or
<br />state agency (including Lender if Lender is such an institution}. Lender ;hall applv the f urids to pay the escrow items.
<br />Leader 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 he paid on the Fund, Unless an agreement r, made or applicable lays
<br />requires interest to be paid, Lender shall not be required to pay Horrin,cr am' interest It earnings on the Funds. Lander
<br />shalt give to Borrower. without charge, an annual accounting of the f unds showing credits and dehth to the Funds and the
<br />purpose forwhich each debit to the Funds was made. "rhe Funds :u'e pledged as adeiiitomd sccunt% for the %ttm,.rcured ht
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Fmld% payable prior n,
<br />the due dates of the escrow stem;. shall exceed the amount required to pay' the escrow Items when due. the ekes, he.
<br />shall
<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 suffictent to pay the cscrou items when due. Borrov%cr,hall par to Lendcr any
<br />amount necessary to make up the deficiency in one or more pac merits 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 Ender paragraph i9 the Property is sold or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to rite %ale of the Property or its acquv%uton by Lender, any Funds held by Lender at the ante of
<br />application as a credit against i lie ,untssecured by this Security instrument.
<br />3. Application of Payments. Unless applicable law providt:s otherwise. all payments received b% Lender under
<br />paragraphs I and 2 shall he applied: first, to late charges due under the Note: second, to prepayment charges dime under the
<br />Note; third, to amounts payable under paragraph 2: fourth, to interest due: and last• io 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 ;any
<br />Borrower shall pay these obligations rat the rnamter 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 nouces of amounts
<br />to be paid under this paragraph. If Borrower rnakes these payments directly. Borrower shall promptly furmush to Lendcr
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any hen which has pnonty over ihis Securely lstnnncrit unless Borrower. i.ii
<br />s`
<br />agrets in writing to the payment of illy obligation secured by the lien in a manner acceptable to lender, (h) contests in good
<br />faith the lien by or defends against enforcennenr of the lien ui, legal proceedings which lit the Lender's opinion operate to
<br />prevent the enforcement .d the lien or forfeiture of any part of the Property: or fcl se tire% from the holder of the teen an
<br />,
<br />agreement satisfactory to Lender suNnch lung the [ten (o tilts Security instrument. if Lender determine, than any pan of
<br />The Property is subject to a hen which may atram pnonty over this Secui :!% Instrument, L.cnder rata% gr,e Borrower a
<br />notice identifying the lien. Borrower shalt satisfy the hen or take lint or more oa „ie actions ,et forth xhmy vynhm 10 day,
<br />of the giving of notice. -
<br />S. Hamrd Insurance. Hot rower shall keep the improvements now rxur,r.g or hereafter crecled on the Property
<br />insured against Ices by fire. hazards included wuhm the term "extended coverage" and any other hazards for w Inch Lender
<br />requires insurance. ibis insurance shall he maintained in the arnounis and for the periods that Lender requires file
<br />insurance carrier providing the insurance ,hall le chosen by Horro%%cr ,uhpxr !o 1 meter', appro,al 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 renewal% If Lt'Ader requ)rc %, llorower shall promptly gne In Lender
<br />all receipts of paid premiums and renewal notices. In the eves if loss, Horrower shall gar prompt nonce to the m,urauce
<br />carrier and Lender. Lender may make prool'of loss d"not made promptly hp Borrower.
<br />Unless Lender and Horrower otherwise agree in writing, insurance proceLd,; shall he applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible art(] Lendcr', security Its not lessened If iftc
<br />restoration or repair is not economically feasible or Lender's securil% would he lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due. with an% excess paid to Horrower. if
<br />Borrower abandons the Property, or does not answer within 30 days a notice from lender that the insurance carrier has
<br />offered to settle: a claim, then Lender may collect the insurance prt>leeds. Lender play' use the proceeds to repair or restore
<br />the Property or to pay sums secured by this Security Instrument. whether or not then due The 30 -day period will hegira
<br />when the notice is given.
<br />Unless Lender and Borrower (,the rwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred tit in paragraphs i and 2 ur change the amount of the pay sent, if
<br />under paragraph 19 the Property Is acquired by Lender. Borrower', right it, any insear,mcc p, �Iicic% and proceed resulting
<br />from damage to the Property prior to the acquisition shall pas%!I, Lendcr n, the extent ..t ;., ,unt, secured by the, Sccurnv
<br />Instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Born owcr,halIiwt Jest r,,%.deniageor,nb,I,tnnallt
<br />change the Property, allow the Property to deteriorate
<br />fir conuntt was(c if ibis Scc111,1N ln,trununt n ,,a .i ieasch"Id.
<br />Borrower shall comply with the pro% isuvns of the lease, and if Horrower acquires fe•e title to (tic Property. the leasehold
<br />:iii
<br />fee title shall not merge unless Lender agree% to the merger m w nnng
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower taut, i„ ;N<rfi,rm file
<br />covenants and agreements contained fit this Secunh Istrunaent, or there t, a icgal pncceding that m,r, signai,anll> afle. I
<br />Lender's rights Ill the Property isuch as a proceeding m hankniptC),
<br />pmhioc. t,)r i ottdet1It1jIIt4II ,'it 1�, ontmH c fall, nr
<br />regulations). theft Lender tnat do and pay for whatever is neccs,ar% to pngccl the valL't':`! Iht' Prvpen, ;fad I ,ndel's nghl,
<br />in the Property Lenders ;actions sly include paying any sums ecur'cd by a hen which has prn•rin . ,cI rhis `wren
<br />Instrument, appearing an court, paving rrasttnable attorneys' fee, rid entering on rh, f r„prrly a) make rcp,nr, 'tlth,mott
<br />Lender may take. action under thus ' i
<br />pi..tir:tph ender does IR't h;t,e ,t, du ,,,
<br />Any unounts dt%bur%cd by L.endcr under Ihr, paragraph -.hall hr , n l 1. ?ironul Jchi .: 11 ;v n•wri .,:,ind h} 1In•.
<br />SCs. ,' fin- 1rutnynt Lnless Kirrowt• antI Lender aarec Ioother I r,11, A 1%Ino,! thc,, ,ono <Ir;I ail i,e�.i, rtcre,t fr.nn
<br />the date of disbur--ctne'nt lot Itic Vtzh• rttc anal tii.dt be pauar•de ulrh Toc•, ",I t •r �.,,I�.t ' +!n t .. „e � R,�•rnwer
<br />requesuni; payinene
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