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86- 102849
<br />1 Nli nassi Co vi %.sA t s Borrower and I rndrr,:oivrnam anil agrer A% follows
<br />I. Payment of Principal oar! Interest. Pmepuyntent aitd face Ontria s. Borrower 'hall promptly pay whet, disc
<br />the prtnc'ipial ref and mterrnf on the debt evidenced by the Ngine and any prepayment and late i home due antler the Mile
<br />2 Fook forTaseseeW I -so anee. Suhfect inapplicable law or too wnttr •,.cr by Lender, llurrowrr .hall pay
<br />to Lender on the day meinlhly payments are due under the Note, until the Note is pact, in full, a sum t "f=unds ") equal Its
<br />one - twelfth of. (a) yearly lases and assessment% which may attain priority over this Srrunty Instrument, th) yearly
<br />leasehold payments or ground rents on the Propeny, if acv. (c) yearly harard insurance premiums; and (d) yearly
<br />~SW insurance premiums, if any. These items are called "escrow item- " Lender may cmtmr ate the Fund% due on the
<br />hash of current dais and reasonable estimates of future escrow items,
<br />The Funds shall be held in an institutton the deposits or accounts of which are insured fir guaranteed by a federal or
<br />state agency (includtnig Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items.
<br />Leader may not charge for holding and applying the Funds, artadyaing 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 Furuiv Unless an agreement i% made or applicable law
<br />requires interest to be paid. Lender shall not he required to pnv loirrower any interest fir earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing c redus and defuls to the Funds and the
<br />purpose for which each deho to the Fund•, was made. The Funds are pledged a% additional security for the sums secured by
<br />thmSecurity 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, -hall exceed the amount required to pay the escrow items when due, the excess shall be.
<br />at Borrower's opium, either promptly repaid to Borrower or credited to Blorrowcr on monthly payments of f=unds If the
<br />amount of the Fun d% held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br />amount necessary nip make up the deficiency in one or more payment%as, required by Lender
<br />Upon paytrtenl 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 isle of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br />applicauoin as a credit against the sums soured by this Security Instrument
<br />J. Application of Payments. Unites applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 thall he applied: first, to amounts pr-yable under paragraph 2; second, to interest
<br />due; and last, to principal due.
<br />a. CltwliM Less, Borrower shall pay all taxes, assessments, charges, fines and impxisiions attributable to the
<br />Property which may ■Ham priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligstiont 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 notice% of amounts
<br />to he paid under Ihis paragraph. If Borrower makes thew payments dirrcily, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has pnonty 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) contest% in good
<br />(still the lien by, or defends against enforcement ref the hen in, legal proceedings which set the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the property; or (c) secure from the holder of the hen an
<br />agreement mti- factory to Lender %utvudinating the lien to this Secunty instrument. if Lender determines that any part of
<br />the Property is %ub)eci In a lien which may attain priority over this Security insintment, Lender may give Borrower a
<br />notice identifying the hen Borrower shall satisfy the lien or take one or more of the actions art forth absive within I0 days
<br />of the giving of mince.
<br />S. Hazard Insnrnaee. Nirrowcr shall keep the improvements now eu%hng or hereafter erected on the Property
<br />insured against toss by fire, harard% included within the tern "extended coverage" and anv other hararkh for which Lender
<br />requires insurance. This insurance shall he maintained in the amounts and for the period% that Lender requires The
<br />insurance carrier providing the insurance ,hall be chosen by Borrower suhtect to Lender's approval which shall not he
<br />unreasonably withheld.
<br />All insurance polscw% and renewals shall be acceptable to Lender and shall include a %tanclard mortgage clause.
<br />Lender shall have the nght to hold the policies and renewals. if Lender require, Borrower shall promptly give to Lender
<br />all receipts of paid premiums And renewal notices. In the event of lo%s, Borrower shall give prompt notice to the insurance
<br />carrier and Lender Lender may make proof of ling if ool mace promptly by Mirrower
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds %hall he applied to restoration or repair
<br />of the Property damaged. if the restoration or repair is economically feusiblr and Lender's ucunty is not lewried if the
<br />restoration or repair is not economically feasible or Lender's %.curtly would he lessened, the insurance procceek shall he
<br />applied to the sums secured by this Security Instrument, whether or not Ihcn due, with any excess paid to Borrower If
<br />Borrower abandoin% the Properly, 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 prrxceds. Lender may use the proceeds to repair M restore
<br />the Property or to pay sums secured by this Security Instrument, whether or not then due. The 10-day period will begin
<br />when the notice is given.
<br />Unkss Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the nnrnthly payments referred to in paragraphs I and 2 or change the amount of the payment% If
<br />under paragraph 19 the Prrgperty is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property prior to i e acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Instrument imrniedialely prior to the acquisition
<br />6. Preservalloa NW Maintenance of Proprerfy; Leueholifs. Borrower shall not dc%iroy, damage or %uh%tantially
<br />change the Property, allow flit Property to deteriorate or commit waste if this Security In%trumrni is sin a leasehold.
<br />Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Properly, the lemeholti and
<br />fee title shall nol merge, unless Lender agrees to the merger in writing.
<br />7. Prolhiioa of Lender's Rights is The ProWty; Mortgage insurance. If Borrower fails to perform. the
<br />covenants and agreements contained in this Setunly instrument, or there is a legal prnceefuig that may significantly affect
<br />Lender's rights in the Pn-MOV (such as a pnxeedmg in bankruptcy, probate, fur condemnation or to rnfon:e law% or
<br />refutations), then Lender may roa and pay for whatever is necessary to protect the valueof the Ptnpcnv and Lender'% rights
<br />in the Property Lerder's sclnm% may include paying any sums secured by a hen which has priority over thi% Security
<br />livarumem. appearing in court, paying reavmahk attorneys' fees ail entering on the Property to make repairs Although
<br />L.enitr may lake actnm under this paragraph T. Lender does not have to do sit
<br />Any amounts cinhumed by Lender under this paragraph 7 shall hec Dine adchttomal sdehi of Boil owrr secured by this
<br />Swunty Imirumew U.fess pkxrowct and Lender agree to tither irrm%of p.nmrnm, the %r amnuni% %hat! Ixar tniemi iir,m
<br />the date of dtslwrsrnrent at the Ntie sate and %hall he pji ahlor . with intrrrsi, it -1 -lticr from 1 rri,±rr i.A K,!r —s-r
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<br />retwesting payment
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