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86-- 103484
<br />Li %;ifr)*M Ce3VE%A , Is Borrower and lender c :,versant and agree as ksl10w,
<br />1. Payment of Principal and Intlliest: Prepayment and Lnte Charges. 8orro%cr shall promptl% pA} %Fir•, ,l,:c
<br />the principal of and interest on the debt r— denced by the Note and any prepayment and late charges due under the \,,!c
<br />2. Funds for Taxes and Insurance. Subject to applicable lau or to a written %atser by Lender, Borrower shall pav
<br />to Lender on the day monthly payments are due under the vote, until the vote is paid in full, a sum ("Funds 'I equal to
<br />one - twelfth of- fa) yearly tastes and assessments which may attain pnonty over this Secunty Instrument (hl yearh
<br />leasehold payments or ground rents on the Property, if any-. (c) yearly hazard insurance premiums, and Ids %early
<br />mortgage insurance premiums, if any Thew, items are called "escrow Items •• Lender may estimate the Funds due rn the
<br />basis of current data and reasonable estimates of future escrow items
<br />The Funds shall be held m an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an instrtotton). Lender shall apply the Funds to pay the escrow (terns
<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 a charge Borrower acid
<br />Lender may agree in w•nting that interest shall be paid on the Funds ('nits% an agreement is made or applicable law
<br />require, interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds Lender
<br />shall gw.- it. Borrower, without charge. an annual accounting of the Funds showing credits and deh,is to the Fund, and the
<br />purpose for which each debit to the Funds was made The Funds are pledged as additional secunty for the sums,eL,urcd h•,
<br />this Security instrument
<br />If the amount ;f the Funds held by Lender, together with the future monthly payments of Funds payable pr:or to
<br />the due dates of the esu.,w items, shall exceed the amount required to pay the escrow items when due, the excess ,hall he.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower en 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 in Lcndcr any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender
<br />Upon payment in full -,fail sums secured by this Security Instrument. Lender shall promptly refund Iu Br•rro %cr
<br />any Funds held by Lender. If under paragraph i9 the Property is sold or acquired by Lender, Leader shall apply. no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender. anti Funds held by Lender at the tune 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 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 im"it,ons attributable to (tic
<br />Property which may attain priority over this Sccunty 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 ,hail
<br />pay them on time directly to the person o %ed payment Borrower shall promptly furnish ,o Lender all notice, of.anount,
<br />to be paid under this paragraph if Borrower makes these payments directly, Borrower shall promptly furnish to 1 Crider
<br />receipts evidenctng the payments
<br />Borrower shall promptly discharge any [ten which has prority over this Security instrument unless Ht- r,; owrr rat
<br />agrees in writing in the payment of the obligation secured by the lien in .i manner acceptable to I ender ihl r"r.r,ts 7n g<xid
<br />faith the ben hy, or defends against enforcement of the lien ,n, legal proceedings which in the Lender's npmi,,n operate
<br />prevent the enforcement of the I:en or forfetture of any part of the Prope -ty nr (c) ors ores fr +,m the holder .ol the 17rn an
<br />agreement "it%factory to bender suhordmating the lien to this 5ecunt} instrument If Vender determine, that any par:
<br />the Proper} is suh)ect to a Len which may amain priority over this Security instrument. i ender rn.i, gne Horr•wrr a
<br />mmce identifying the hen Borrower shall sartsfy the hen or take, one ,or more of the actwns sc[ forth ihr „c within ',; .ia „
<br />of the giving of nonce
<br />S. Hazard insurance. Borrower shall keep the :nipt.— cmcnis now rsistiny •,r hereafter cre,!cd ,i, the Pr •i,rr',
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<br />insured against loss by fire, hazat'ds Included %,thin the tern; "e itended co, aid ac•, ether hazarch I,,; who t: 1 c•n<tc•r
<br />requires insurance This in%ura +;.: shat! be ;-.,intained in the amounts and f•r the rwri,af, ihai i ender rr,;u.r, . Ili,
<br />insurance csrncr providing the :nsurance ,hail he ,ti,isen t,v Hnrr „%rr suhic•,r !r I rod e,\ appro,AI - ,hi,n .•• 11; r lie
<br />unreaurnah1v withheld
<br />All insurance pohc,es and renewals shall he acccp!ahic• t,, Lender .ind ,':all ntriudc• a stand:ud rni,r:Q.,yc .1.1—C
<br />,i
<br />Lender shall have the right to hold the policies and renewals If I ender requites, B „rro%Cr shall pr,•rnpd, crsr I , i .rider
<br />all ree:C!pts of paid premiums and renewal notices Ir. thr e,cnt of :o,s. Borrower shall qnr prompt 11141;e t:, the msurarcc•
<br />carver and Lender Lender may make pri%,f of !oss it not made pt,•mptls M B,t ro %r;
<br />Unless Lender and Borrower otherwise agree in wnring, ir•.wrance proceeds shall he applied to reso,i at!on r - z:pair
<br />of the Property darnaged, if the restoration or repair is economically feasible and Lender's scums i, not ies,c•ricd It ill,-
<br />rstoration or repair is not economically feasible or Lender , security would he lessened. the insurance proceed, ,hail 1,r
<br />applied to the sums secured h} this Serunty Instrument. whether or no, then due, with enN excess paid to liorr.,%rr It
<br />Borrower abandons the ['rape -ty. or does not answer within tr) days A none from Lender that the insurancr , • rm-! ha,
<br />offered to settle a claim then t ender may Lollrii thr ,nsurance pro reds I ender may +ism the proceeds !,o repair r ,e,i r
<br />the Property or to pa, ,Lm, ,r. urcd by On% Secunts Instrument whether it nor there due the 'i' day t-wr :<,! .vi!! (cirri
<br />%bell the notice ,% green
<br />1 nless I ender ,nd H••rno %erotherwise agree ill %riling. any apphcali,on „I proscecd, to pnncipei ,hail ,, • rs,,,,d .r
<br />postpone the due date:,! tnc nwrithly payment, re(erred u, in paragraphs ! and .'. or , hange the amount if ih, t,•t, ••t:•: 1!
<br />under paragraph ! a the i % •pert y is acquired hs t ender Horn• %cr's tight t,, ans !n,uran,r p„hnr, and
<br />from damage to the Property prior to the arqutstlux, .hail Pass to I Crider t„ :hr evtem it Ihr .urns ore trot h, 'i
<br />Instrument immed,atrls r`nor to the acquisition
<br />6. Preservation and %faintenance of Property; Leaseholds. K,rro %cr shall not dc.Lroy, dmnagr .,7
<br />change the Property alit•% 7lie Property to deteriorate tir corn!mt Waste If !till'Irttl is L,s n;rnrnl , , . t„ • • .
<br />Borrower shall uompl, with the provisions of the lease, and if Borrower a,:gmrrs fee title t,, the Properi, :hc
<br />fee title shall not merge unless I ender agrees !„ the merger in w Wring
<br />”. Protection of Lender's Rights in the Prrrpert): %tortitalle insurance. it B,rr —ri ,a:., ;, ;•rr! u
<br />covenants and agrecmcrit+conrdaned in this Security Imirumrnt. or rhrrr n a legal t +r riding Cher rn;i•. „ : : :!i,.t "! ,"
<br />ICriders rtghh in the Property (such as a proceeding In bankrupt ,.-y. probate, for ,ontlemnan ... i .,r I. •,1,•t. r iw.
<br />:egulationsi. then l ender rna, do and pas for %hate,er is necr,%ary I., prote,r the , aiur "I the P :,p r„ Al I
<br />in [tic Proper!. 1 c dens a,,1 a, mss 171,113,!1 tiaslng Alts sums sRUtrd by i •:e, ., i.: h has r,. �•, .. i... s.. ..
<br />In,tnimcm, Apprx,ing in .,•urt pa,MR .easorlablr alt„ritCy, !rr, uiO rnirritie -'r 'itr ! - tx'••, .,f 1. •' ,
<br />I rnebrr,nay iakr a,n , Oltdc, ih.v paragraph ” I ender does n. ! ha,r
<br />>nt ono „urn, t lu,r Ccf hs 1 eride7 u•:.trr !ha paragrapA ^ .ha r,r, ,rr r „I,,• ,. tie! .!r+•'...
<br />Sit t nh Ieart cis! I vies, Wit—A— ar,d i ruder agree t •, ^, r , r
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<br />"he Sate •,1 ,,. *r ,a , :mr 1 a.' ' .r 1•,,e 'Aic and ilia;' tM t I-11 -C 1 i,•
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