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86- 103716
<br />Uwrottss C0vF.NAins. Borrower, and. Lender covenant and agree as follows:
<br />1. ftyp at of Prlacipal 8" lwtneal, Peepayraeat and Late C1111"ll"• Borrower shall promptly pay when due the
<br />principal of and interest en the dent evidenced by the Note and any prepayment and late charges due under the Note.
<br />%. FYdtr for Tana and 110mraace. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to
<br />!,cyder on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to one-
<br />twelfth of: fa) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly leasehold
<br />payments or ground rents an the Property, if any; (c) yearly hazard insurance premiums: and (d) yearly mortgage insurance
<br />premiums if arty. These items are called "escrow items." Lender may estimate the Funds due on the basis of current data
<br />and reasonable estimates of future escrow items.
<br />The Funds shalt be held in an institution the deposits or alyssums of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is stun an ittsritution). Lettdcr shatl apply the Funds to pay the escrow items. Lender
<br />may not charge for holding and applying the Funds, analyzing the account or ycirfving the escrow Items, unless Lender pays
<br />Borrower interest on the Funds and applicable law permits I ender to make ,rich a charge. Borrower and Lender may agree ;n
<br />writing that interest >hall he paid on the Funds. Unless an agreement is made or applicable law requires interest to he paid,
<br />Lender shalt not be required to pay Borrower any interest or earnings on The funds. [ ender shall give to Borrower, without
<br />charge, an annual accounting of the Funds showin( credits and debits to the F=unds and The purpose for which each debit to
<br />the Funds was made The Funds are pledged as additional aecunisv for the ,um, secured by this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the f-atune monthly payments of Funds payable prior to the
<br />due dates or the escrow items, shalt exceed the amount required to pas the cscraw items when due, the recess shall he. at
<br />Borrower's option, either promptly repaid to Borrower or credited "in monthly pavments of Funds. If the amount of the
<br />Funds held by Lender is riot sufficient to pay the escrow items when due, Borrower shat! pay to I,ender an-, amount
<br />necessary tit make up the deficiency in one or mere payrnernt as required h, ! ender.
<br />Upon payment in full of alt sums secured M this Sec: trity In,trtimenr. I ender ,hall promptIN refund to Bo-,rower arty
<br />Funds held by Lender. ff under paragraph !9 the Proper, ty sold or acquired by tender, f ender ,hall apply, no !atcr than
<br />immediately prior to the sale of the Property or its acqur mlion by I coder, am Funds held by Lender at the time of
<br />erppiication as a credit against the sums secured by this set:urny lnsrfinnent
<br />3. Appllcation of Payments. Unless appircahle law provides othcrwtic. till payments re:-etved by Lender under
<br />paragraphs i and Z shall be applied first. to laic charges due tinder the Note: second, to prepayment charges due under he
<br />Note; third, to amounts Payable under paragraph 2: fourth, to interest due, and last, to principal duc.
<br />i. Charge$: Liens. Borrower shall pay all taxes. assrasmertts. charges. fines and unpositions attributable to the
<br />property which may attain ptwfitj over this Securty Instrument_ and iraschold pavnimnis or ground rents. if acv Botniwer
<br />shall pay these obligations in the manner provtded in paragraph :, or if not paid to that mariner. Borrower shall pay them on
<br />time directly to the person owed payment Borrower shall furnish ;n Lender a!! notices of amounts to be part] under
<br />this paragraph. If Borrower makes these payments direcrh, Borrower ,hat) prumpfly fi rr,uh to Lender receipts evidencing the
<br />payments.
<br />Borrower shall ptomptl% discha•_e any lien which tins pnorrty nver this Security instrnrneni tiniest Borrower (a) agrees
<br />ur writing to the payment of the obligation secured by ihr lrrn :n a manner acccpiabtc ici ! ender. {hi rontesis rn gooet faith
<br />the lien by, or defends against enforcement of the lien in, !egai piocced"rgs «filcl, . m, the I cnder's op"mon operate to prevent
<br />the enforcement of the tiers of forfeiture of any part of t'?r property. or ic) secs;res from the holder cot the licit an agrecmen•
<br />satisfactory to Lender subordinating the [ten to this Srvurity Instrument if fender determines that any part of the Property u
<br />subject to a lien which milk ariair Pnortty o -rr "hts Sr..una in,tr,rntn . I .noes may zinc ioriowei , nonce identifying the
<br />lien. Borrower shall satisfy the Oren ar take irrre or r,lorr of the anon, ,ct t,r "ti abo,e within !I, d ;ty+, of the giving of notice
<br />S. Hazard Insurance. BoTr<tw4. shall seep the imptnvrmrr,ts now existing or hercalier etectrd on the Propertk insured
<br />against loss by fire, hazards included within !tic term ••extended .overage" and acv o;hcr hazards !er 'AMO I ender requires
<br />insurance. This insurance shail he rnamtaintal m tht amour.re and t,ir !tie pe :"-?d s that 1 ender requires the insurance carrier
<br />providing the insurance shalt tie chosen II, Borrower wb;e,;t e„ I cnder's appn:•.:ri ,shrch shall not he unreasonably withheld
<br />All insurance policies and renewals shall tit acseptabte i•? I ender and shall include a standard mortgage clause. Lender
<br />shall have the right to hold the policies and renewals. If Lender requires. Borrowe* shaft promptly give to Lender all receipts
<br />of paid premiums and renewat notices. In the event of tens, Borrc —er shall give prompt notice to the insurance carrier and
<br />Lender. Lender may make proof of foss if riot made ptomptty by Boric+wer.
<br />Unless Lender and Borrower otherwise agree it writing, in,urance peocreds shall lie applied to resroratron or repair r`I
<br />the Property damaged, if the restoration or repair is tconomicaliv feastbic and i ender's security is not lessened- If the
<br />restoration or repair is not economically feasible or Lender's security would ! r lessened, the insurance proceeds shall he
<br />applied to the sum secured by thu Security institimserif. whether or not then due, with any excess paid to Borrower. if
<br />Borrower abandons the Property, or does riot answer within it) days a notice from [ ender that the insurance carrier its,
<br />offered to settle a ::latm, then Lender may ,oilect the insurance proceeds Lender may use the proceeds Ic repair oT restore
<br />the Properly or to pay sums secured by this security Instrument, whetlier or not ;hen due The 30-dale perind will begin when
<br />the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, arts ;ippiwat,on .,t oroceeds to pimcip al shall nut extend or
<br />postpone the due date of the monthly payments referred to to paragraphs I and = or change :he amount of the pavments If
<br />under paragraph 14 the Property is acquired b% 1 ender, llorrowcr', right to arts ensurancc pill "ctrs and ptc�zeeds resulting
<br />from damage to the Prnperty prior if-, the acgms:tron shah pass .t` [ Clider t„ tit extent , , the suns` se.trred by ([its St'tiunty
<br />Instrument Immediately prior to the a qursu,ori.
<br />6. Preservation and Maintenance of Property: Leaseholds. Borrower ,halt ri- dcsttos. damage ar .uhitanr.al!v change
<br />the Property, allow the Property to deteriorate or commit waste if this Security instrument is tin a leasehold. Borrower shaft
<br />cortipty with the provisions of the !ease, and if Borrower ace;uires fee title to the Ptoperty. the lcaichold and fee title shall plot
<br />merge unless Lender agrees to the merger ip, writing
<br />T. Preteetios of Lender's !tights to the Property: Mortgagt Insurance. If Bonowet fall, to perform the okenanti and
<br />agreements contained rn this Secuinty Instrument, -IT there u a legal Pr. :-ceding that tntiv igrrtf!'ami, al test f :n•lr.', fight;
<br />the Property I Lich at a prt"ceecling in hankrup tcv, ptohaee. `or condemnation .,r to enfor.c laws IT reg- .iia(-tl,n. then t rrdr"
<br />may do and pay for whatever !s Iccr+viu% to pr -otca the ,ably of .he Prnpere, at!,! i ender . righta ;n !hr !'ToPcrty I cndr',
<br />a;tion% may include paying arts virus se:urcd by a heft whtrh has pnont -. ; vet tin, tie,turt, Instrument. appcanng is
<br />paying reluynable attorney's tees and entering on thr Prvperry to snake •cPatrs •,I' hot' gls f cider ma, 'akr a.i,•tr tinder 06:•.
<br />paragraph I I ender dot% not hair to do io 4n, air., lint, 6"ibut,rd 1" 1 cadet •., n,lrt th". ;arag <.rpi... .. tdh De :.line
<br />additional debt if }stir *awes sectited by this ,etura, In,trutnent t nies.. fta'"r,iw.r l i ag ;c< ,,!i:,
<br />pavmtru, these ar000nis shali ^car Interest '10M the date "T ,tnhut rrtrnt a. "'ir `.o "r �s r nn,! >e'i ,, ..i ��'. <. ". nor r••
<br />upon +iot,d( frt,rn t er,•der eo fitil 'wet
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