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46-- '1Ot388 ` aswwu 'c vu urc rrvper[y, I.'any:: tc3 ytarty °oazarrt- lnsutance ple2niUtnS;'arld (d) yCarly nrOrtgage insurance {iremiums.'if.anq. These ifemsrat "escrow_itemc'• i.eader:,may estimate' the Funds due on the besets %ofcurrenudata and reasonable estimates.of future escrow,items Tha Funds shall. be held in. an institution the deposits or accounts of which .are insured or guaranteed' by a federal or state alricy (including Lender iT Lender is such an institution). Lender shall apply the Funds to pay the escrow: items. Lender niaY not charge for holding and applying the Funds. analyzing the account (r verifying the escrow items, unless Lender pays Horn r yr interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may Alm in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid; Lender shall'not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge,: an annual, accounting of the funds showing credits and debits to the Funds and the purpose for which each debit to the` Funds was made. The Fumis are pledged as additional security for the sums secured by this", rity' Instrument. If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the due dates Of the escrow items, shall exceed the amount required to pay the escrow items when due; the excess shall'be, at Borrower's option, either promptly repaid to Borrower or credited on monthly payments of Funds. if the amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. if under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later than immediately prior to the We of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note: third, to amounts payable under paragraph 2; fourth, to interest due, and last, to principal due. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. if Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shalt promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien of forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. if Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above %ithin 10 days of the giving of notice. 5. Hazard Isaerance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by Fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance-shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not le ssened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sum secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. if Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has Offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will begin when the notice is,given. UNesss - Leader and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. `. Preaervatlea sad Malatettaaee of Property; Leaseholds. Borrower shall not destroy, damage or substantially change the Property. *How the Property to deteriorate or commit waste. If this Security instrument is on a leasehold, Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and fee title shall not metes unless' Lender agrees to the merger in writing. 7. PrOlKlI st`of Leader's Rlghls he the Property; Mortgage Itrsaraace. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property Isueh as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by alien which has priority over this Security Instrument, appearing in court, paying reasonable attorney's fees and entering on the Property to make repairs. Although Lender may take action under this paragraph T Leader does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt Of Borrower secured by this Security instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Gender to Borrower requesting payment.