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S6-- 103$77
<br />L,NauoRM COWNANIS BOrroWer and LendCrs';,ti•. Eta :m and agree a >tt`llt�wti
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br />the principal ofand interest on the deist evidenced by the Vote and any piepayrneni and late charge, clue under the \orc
<br />2, Funds for Taxes and Insurance. Sithiect to apphcahle law or to a written w.u,er by Lcndcr, Bor�,i,icr ,half pay
<br />to Lender on the day monthly payment; are due cinder the Noic, unit! the Vote is hard ni full, a Sum CTonds ") equal to
<br />one-twelfth of: (alt yearly taxes and asSoismenis which may attain prortty -%er thls Securtty Instrument: (b) yearly
<br />leasehold payments or ground reni,r an the l'ropetty, if any: (L) yearly hazard incur iwc ptcmturnc, and (d) yearly
<br />mortgage itiaurance prertuums, if any. These iicros are c:alted "escrmi Icm, " Lender may estiniate the Ponds due on ti;e
<br />bvsisofcurrent data and reast)nable i uimate.sof futtue escrow hones
<br />The Funds shall be held in an mstituiton the deposits err ac,,,unts of which are im.urcd or guaranteed by a federal for
<br />state agency (including Lender if' Lender rs such an institution). Lender ,hall apply the Funds to pay the escrow items
<br />Lender may not charge for holding and applying the Funds, anahzing, the account or verifying the escrow tans, unies,
<br />Lender pays Borrower interest on the Funds and applicable law penim, I ender to make such a charge. Bonowet and
<br />Lender may agree in writing that interest shall he paid on the I tw,f, Unless an agreement i, made or applicable laic
<br />requires intere,t to be. paid, Lender shall not tier required to nay li-rr,,wer any mtc•rest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge. an annual accounting ol' t hf I und, showing credits and dehn, to the Fund, and the
<br />purpose for which each debit to the Funds was made The Fund, are pledged is addnionaf ,ecuniy for the ,um, secured by.
<br />this Security Instrument
<br />if the amount of i he Funds held by Lender, together with the future monthly payments of Funds payable. prior to
<br />the due dates oof the c,c r „w terns, shall exceed the amount required to pay the escrow item, when due, the excess shalt he,
<br />at Borrower's option, either premiptly repaid t„ Borrovaer it credited tt� fiorr,,wc•r om mOnt111y payments of Fund,. if the
<br />amount of the. F -unds held by Lender Is not sufficient to pay the c,crow Items is hen due, Borrower shall pay to L-ender any
<br />amount necessary to make up the deficiency hit one or more payments its required by Lender.
<br />Upon payment irk full otAl sun %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 i)r acquired by Lender, Lender shall apply, no later
<br />than Immediately prior iii the saic of the Property or its acquisition by Lender, any Funds held 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 recciicd by Lender under
<br />paragraphs I and'_ shall be applied tiro, to late charges due under the Vote: second, to prepayment charges due under the
<br />Now third, to amounts payable under paragraph 2: fourth, to interest due: and last, to principal due_
<br />4. Charges; Liens. Borrower ,halt pay all taxes, assessment,, .barges. lines and Impositions attributable to the
<br />Property which may attain prrontp over this ticcurity Instrument. and leasehold payments or gr)untt rents, if any.
<br />Burrower shall pay these obligations in the manner prnvrcfed in paragraph 2. or if not paid In that manner. Burrower shall
<br />pay them on tinie directly to the per,au owed Payment. Horrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph If- Borrower makes these payments directly. Borrower ,hall promptly furnish to I.euder
<br />receipts c%idencinl the payment,
<br />Borrower shall prornpiI disc fiarite ant Iten which lei, pi Ion Iy cover th1%ScvuriI Instrument unless [lot rower 11211
<br />agree, in writing to the pay mem of thc• nhttgatton secured by the hen in a manner acceptable to Lender, (h1 contests tit good
<br />faith the lien by, or defends agar it%, enforcement of the licit In, IcgaI proceedings irhnch in the Lender', opt moll operate to
<br />prevent the enforcement of the hen of forlciture of any part of itic 11roperty, or (c) secures ftokin the holder of the hen an
<br />agreement satisfactory to bender suh- rd:%ating the Iron to this Sccuruy instrurnc•nt. if Lcndcr dc•teronuu•, that any part of
<br />a.
<br />the Property is suhpect to a hen which may attain priority over this Securni Instrument, Lcnder may give Borrower a
<br />notice identifying the lien Borrower shall,ansfy the hen or Iakc one or mire of the actions sct forth above within 10 days
<br />of the giving of not ice
<br />S. Hazard Insurance. Ho.rnnver ,hall keep the tmpri, rvmcnr, ni)w rit,tiit I h rrafier erected nn (he Property
<br />insured against loss by hoc, hazard, inrludmi within the tern: "cvfcndcd i o%cratic .tad jm caher hazards fur which Lendcr
<br />requires insurance This rn,urancc sli.ill he maintained m rho .:mount, anti tot the period, that Lcndcr requires The
<br />Fit
<br />insurance carrier providing the in,urant ^ ,hall be cho,es by H, Ti"ser tib;v,t t„ Lender', appr »al which ,hall not he
<br />unreasonably withheld.
<br />All insurance policies and renewals shalt he acceptable !a I ender and shall ulrRnle a stand:nd nmrtgage Clause.
<br />Lender Shall have the right to hold the pohctes and renewal, It 1 ender requires, Harrower shall prompth }aye to Lender
<br />all receipts of paid premiums and renewal notices In the event of lo,s. Borrower shall g;rc prompt notice to the tnutranee
<br />carrier and Lender. Lender may make prarf of lo,s if not made prompt h by Hon ow er
<br />Unless Lender and Borrower otherwise agree in writing, itisuranie priwced%Shall he Lpplicd to re,toratloit or repair
<br />of the Property damaged, If the restoration or repair is economic all} frasthle and Lendcr', security 1, not icssened tl the
<br />restoration or repair is not ecunurrucally feasible or Lender', sccunty would he lessened, the• insurance proceed, shall be
<br />applied to the sums secured by this Security instrument. whether or not Ilion clue, with any excess paid to Horrower If
<br />Borrower abandons the Property, or does not answer within 10 days a nonce from I ender than the insurance carrier has
<br />offered to settle a claim, then L ender may collect the msurancc proceed- I ender may use the proceeds to repair or restore
<br />the Property or to pay sums SCCnl'Cd by this Security Instrument, whethzr or nut then Line. The 30-day pertotl will begin
<br />when the notice is given
<br />U nIc,5 Lender and Boi fowcr otherw t,e agree in Wruing, an application fJ proceed, to principal shall not extend or
<br />postpone the due date of the monthly payment, referred to in paragraphs I and 2 or change the amount of the payment, II
<br />under paragraph 19 the Property is acquired by Lender, Horruwer's right to any Insurance pohc rtes and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by thus Securuy
<br />Instrument immediately prior to the acquisnioa.
<br />b. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy. damage or,ubsrmtta fly
<br />change the Property, allow the Property to deterrc+rate or omrnn waste It this Security Ins(RllnCNI is nn a lea,rh„id.
<br />Borrower shall comply with the pros ision, of the lease. and d' Burr wrr acywnr, for title t,, the 1'ngn t ty, the leasehold and
<br />fee title shall not merge unirss Lender agrees to the merger m %% nnng
<br />7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrowct tail, t„ pertorrn thr
<br />covenants and agreevnenis contained in this Security ln,trmnctit. or there I, a legal prc> redtnr that may signific;imiy affc�i
<br />Lender's rights in the Property isuch as a proceeding In bankruptcy, probate. Im condc•nmation .,r to enforce law, ,a
<br />regulations), then Lender nuly do and pap for whateycr t, neec,sar% to protect rho %clue• olthc Property and Lender's i ight,
<br />in the Property Lender's actions may include prying any suiris sci ured Iii alien X1101 has pnt,nli osrt this Scctrrui
<br />;
<br />i Isrrriinemt, appealing nr court, paying reasonahle.itturnrys' fees and c•nlernig, on Ili. I't „pert: h” Maki' rrl,.uts
<br />Lender mat lake anion undo tct, pata,,raph r f nder fix tiot hacc i,,, ,
<br />Anv rnr.?unts dtshured by 1 r,idet under Ili paragt mph - 'hall h item iddiit. n i t ')t 'A lit rn,w ,•Pit h, t ht,
<br />Sev'unts Im.tftinrcut Vnfcs lt< rrower arid f endct agree t m. ,l pa'Incnt Ihf wl m.i, h tt ! i
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<br />the dal of ihshttrw tnent et the Noic race and '11,,11 lie t.,l,,n,r ii,ib rr,.. "t ,p, ,.,,r t. ,•. 1 i,• i - li `ti ii*
<br />r fyur %iing pa harem
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