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L'titF'r1RN Cilv'fv.47. F3orr<fw'er and l.ende, city nv ^t ani# a zrc aslc'h :•w> 8 103787 1. Payment of Principal and interest: Prepayment and Late Charges. Borrower shall promptly pay when due the principal irf and interest on the debt es idenced by the Note and anyprepayment and late charges due under the hate. 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender• Borrower shall pay to lender ()if the day monthly payments are due under the tsloie, until the Note is paid in full" a sum C "Funds') equal to one twelfth of: (a) yearly taxes and assessmenis which may attain priority over this Security Instrument; (b) yearly leasehold payments or ground rents nn the Property, if any: fc) yearly hazard insurance premiums: and (d) yearly mortgage insurance prennum%, if any These items are called "escrow items" bender may estimate the Funds due on the basis ofcurrent data and reasonable estimates of future escrow items. The Funds shall be hell in an Institution she deposits or accounts of w hic'h are insured or guaranteed by a federal or state agency finctuding Leader if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender fit make such a charge. Borrower and Lender may agree in writing that Interest shall he paid on the Funds. l; r, l,,•. an agreement is made or applicable law requires interest to he paid. Lender ";hall not he required to pay Borrower any interest or earnings on the Funds. Lender shall give to Fiorrow'er, witflout t:harge, an annual accounting of the Fltnds showing credit and debits to the Funds and the purpose for which each dehit to the Funds was made The Funds are pledged as additional security for the sums secured by' thisSecunty Instrument If the amount of the Fund, held by Lender, together with the future monthly payments of Funds payable prior to the due dates of the escrow lien,,,. ,titill exceed the amount required Io pa•; the es, r(+w items when due, the excess shall be. at Borrower'% option, either prompufy repaid to Borrower or, credited to Borrower )it monthly payments of Funds. If the amount of the Funds held t =y Lender t, not sufficient is pay the escrow items when 1-10C. Borrower shall pay to Lender any amolint IlecetGary Ill make lip the dehcicrity ill one cur more payments:),,. required t` \ i c'rider. Upon payment in full of .Ill sure, ,ecured by this Secnnt Inntrumew, Lender .hall promptly refund t0 Burrower any Funds held by I -on der If under paragraph 19 the Property Is ufld or acquIIcc h, Lender, LeItder shall apply. no later than unmedfaicly prior to the sale ,!t ;he Prorent or its acquisition hs 1 ender, an, Funds held by Lender at the time of application Its a credit against the sums secured by this Secun!v h lstiumcni 3. Application of Payments. I roles, applicable taw proNides „!herwrse. ell payments receives) by I ender under paragraphs I and ' ihail he applied tirst. to fare charges duc under ill,! Note second. !c: prepayment charges due tinder the Note: third, tii amounts payable under paragraph Z, t:;urth, to interest due_ and last, to principal due. 4. (7targes: Liens. Borrower .hail pay all taxes, a.scs.nlcnts. :harces. tines and impositions attributable to the Proper :y which may attain pnori!y :