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ran-- 103540
<br />UNIFORM inYrt;AN Ti% Borrower and Lender c,,"nartl and :IRret• rri tollowl
<br />F. Payment of Principal and Interest; Prepayment and I.ale Charges. Iurrower .hall promptly pay :%h• n .lit.
<br />the prutcipa1of and interest on the debt evfdenceff by the Male and any prepayment and late charges due under the Note
<br />1. Finals f rrTaxes iris 1ttsYnnee. Subject toapplicable law or ton wnite •. %cr by Lender, Hnrr,wer shall pav
<br />r to Lender on the day monthly payments are due under the Note. until the Note is p:.,t+ if, full, a sum ( "}'nnelv"} equal to
<br />one•twelfah of. 1a) yearly taxes and assessments which may atiam priority over thus Securlly 111 %trUmrnl, (h) vrarly
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<br />leasehold payments or ground rents on the Property. if any: 4c) yearly hazard msurance premiums. and fill yearly '
<br />mortgage insurance premiums. if any. These items are called "escrow Hems." Lender may estimate the Funds due on alit
<br />Maus of current data and rea%nnahle esrtmale% of future escrow items
<br />The Funds shalt he held in 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 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 haw permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds Unless an agreement is made or applicable law
<br />requires interest to be paid. lender shall not he required to pay Borrower any interest or earnings nn the Funds Lender
<br />shat) give to Rnrrower, without charge, an annual accounting of the Funds showing crnht% and debts to the Funds and the
<br />purpose for which each debit In the Funds was made The Funds are pledged a% adclm onal security for the sums secured by
<br />this Security instrument
<br />If the amount of the Funds held by Lender, together with the future monthly payments of Fund% payable prior to
<br />the due dates of the escrow items, shall exceed the amount required to pay the tvcrnw tern% when due, the exec,% shall be,
<br />at Borrower's option, either promptly repaid lo Borrower or credited to Rnrrnwer on monthly payments of fund% 11 the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow nevi% when clue. Rnrrnwer %hall pay In Lender any
<br />amount necessary to make up the deficiency in one or more payments a% required by Lender
<br />Upon payment in full of all sums secured by this Security instrument, I ender shall promptly refund to Rnrrower
<br />any Funds hold by Lander. If under paragraph (c) the Properly is -ofd or acquired by Lender. Lender shall apply, no later
<br />than immediately prior to the sale of the Properly or cis acquisition by Lender. any Funds hell by Lender at the 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 shallhe applied: first, to amounts payable under paragraph 2; second. to interest
<br />due; and last, to principal due.
<br />4. Cbarnes: plena. Burrower shall pay all taxes, assessments, charges. lines and impin%itions attributable to the
<br />Property which may attain priority over Ills Security Instrument, and leasehold payments nr ground rents, if any
<br />Borrower shall pay these obligations in the manner provided In paragraph Z. or if not paid in that manner, Rorrower shall
<br />pay them on time directly to the person owed payment. Borrower shall promptly furm%h to Lender all notices of amounts
<br />to be paid under this paragraph. if Borrower makes these payments directly, Borrower shall promptly furnsh to Lender
<br />receipts evidencing the payments.
<br />Borrower shalt promptly discharge any lien which has priority ^ this Security Instrument unless Borrower (a)
<br />agrees in writing to the payment of the obligation secured by the lien if iari..•cr acceptable to Lender, (h) totems in grind
<br />faith the lien by, or defends against enforcement of the hen in, legal pro, eedings which in the Lender's opinion Operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Prot !rfy. or G', secure% from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security t 'r ment If Lender determines that any part of
<br />the Property is subject in a lien which may aitam pnnnly over this See:oit, Instrument, Linder may give Borrower a
<br />notice Identifying the lien Borrower shall %ate %fy the hen nr take one or more Of the actions %ei forth above within 10 days
<br />of the giving of notice.
<br />S. hazard Insurance. ilorrower %hall keep the improvements flow extsung or hereafter errcltd nn the Proprrry
<br />'•extendrd I
<br />insured against loss by fire, haland% included within the term coverage" and ariv other ha7artl% for which ender
<br />requires insurance l'hn insurance %half he maintained in the amount% and for the period% that Lender rrquire% ilie
<br />Insurance carrier providing the insurance shall he cho-en by Borrower %uhtecl to Lender'% approval which shall not he
<br />unreasonably withheld
<br />All insurance policies and renewal- %hall be acceptable to Lender and shall include a standard mortgage clau%e
<br />Lender shall have the right to hold the piihcim and renewals if Lender rrqulr,,. Ilorrower shall promptly give to finder
<br />all receipts of paid premiums and renewal notices. In the event of Irts%, Borrower %hall give prompt notice io the insurance
<br />earner and Lender Lender may make proof of loss if not made prompt ly by Borrower
<br />Unless Lender and Irrrower otherwise agree in writing, insurance prireetl% %hill] he applied to restoration or repair
<br />of the Property damaged, if the re%toration or repair i% economically feasible and Lender's security is not lessened If the
<br />restoration or repair is not economically feasible or Lender's % ecurity would he lea %ened• the insurance proceeds %hall he
<br />applied to the sums secured by this Security Instrument, whether or not the i due, with any excess paid to Borrower If
<br />Borrower abandons the Property, or does not answer within 10 clay% a notice from 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 the 10 -day period will t.cgm
<br />when the notice is given
<br />Unless Lender and Borrower otherwise agree fit writing, any application of proceeds to principal shall not extend nr
<br />postpone the due date of the monthly payments referred fn in paragraphs I and Z or change the amount of the payments If
<br />under paragraph 19 the Properly is acyutred by Lender. Wrrower'% right to any imurance p.olcies and proceed% re%utting
<br />from damage to the Property prior to tfie acquisition %hall pass to Lender to the extent of the %Urns %edited by flit% "set tirity
<br />Instrument Immediately prior to the acquisition
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower %hall not drsiroy, damage or snh%urntially
<br />change the Property, allow the Property to deteriorate or commit wage If this Security Inurument son it leasehold.
<br />Borrower shall comply with the prow %tons of the lease, and if flor rower acquire% fee title to the Property, the leasehold :old
<br />fee title shall not merge unless Lender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property; Mortgage insurance. If Borrower fad% to perform the
<br />covenants and agreemenl%contarned in this Serunty Instrument or there i% a legal pnxeedrng Ihlo may sigmfiianfly affect
<br />Lender's rights in the Property (such as a proceeding in hankrupicy, probate, for condrrtinauon or to rnforee laws or
<br />regulations), then i trader may do and pay for whatever is necessary to protect the value of the Property and f ender',, fwhi%
<br />in the Properly Lender's actions may include paying any sums secured by a hen which ha% pnoruv over this 1r urn
<br />Instrument, appearing in court. paying reasonable attorneys' fees and entering on the Property in make repair Although
<br />L Lender may lake action under th:% paragraph 7.1 ender doles not have tat do sit
<br />Any amounts c sbur%ed by Lender under tb% paragraph t sh,itl loesome addrf iornil deb of Borrower %n tired h% iii%
<br />Security In%trumenl Unless Borrower and Lender agree ht other terns fit p,nnienf. these •entotlnl%shall twar tntrrrst It-vi
<br />the dolt of di%burvinent at flit Nole rate :itnd %hall tie pusat.lc with inierrsi upon noes Iror,i I rn,trr to Bo,.o,%co
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<br />requeritrng pavtnent
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