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UNn-(iKm Coy t' Borrower and Lender covenant and agree as follows. 85-- 103790
<br />1. Payment of Principal and Interest: Prepayment and Late Charges. Borrower shall promptly pay when clue
<br />the principal of and interest on the debt evidenced by the Ni,re and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and insurance. Suhiect to a }�Ix!tcable law or to a written wafyer by 1_endcr. Borrower shat! pay
<br />u) Lender on the. day monthly payments are due under the Note, until the Note is paid in full, :r sum ( "Funds') equal It,
<br />ne - twelfth of: (a) yearly taxers and assessments which may attain priority ocer this Security Instrument: fb) yt arty
<br />leoasehold payments or ground rents on the Property. if any, (c) yearly hazard insurance premiums, and tell yearh
<br />mortgage insurance premiums, if any. Thesc items are called "escrow items." tender may estimate the Fund glue on the
<br />basis ofcurrent data and reasonable estimates of future escrow items.
<br />The Funds shall he held in an institution the deposits or accounts of o& hich are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender .hall 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 law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing that interest shall he paid on the Fluids t,nicss an agreement is made or applicable law
<br />requires interest io be paid. Lender shall not he required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds ,ho -a ing credits anef debits ro the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged is additional security for the slims secured by
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future rnonihly paymems of Funds payable prior to
<br />the due dates of the escrow Items, shall exceed the amount required to pay the escrow items when due, the excess shall be.
<br />at Borrower's option, either promptly repaid to Borrower or credited to borrower on monthly payments of Funds. If the
<br />amount oft he Funds held by Lender is not sufficient to pay the escrow items when duc, borrower shalt pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />1?pon payment in full of all sums secured by this Security instrument, Lender shall promptly refund to Borrower
<br />any Funds held be Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of
<br />application as a credit against the slims secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under
<br />paragraphs 1 and 2 shall he applied: first. to late charges due under the Note: second. it, 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 impositions attributable to the
<br />Property which may attain priority over this Security Instrument. arid leasehold payments or ground rents, of any_
<br />Borrower shall pay these obligations in the manner provided in paragraph 2• or if not paid in that manner, borrower shal!
<br />pay them on time directly in the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this paragraph- If Borrower makes these payments directly. borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall prorptly discharge any hen which has priority over this Security instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Louder, (b) contests in good
<br />faith the lien by, or defends against enforcement of the lien it). !teal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the hen or forfeiture of any part of the Property: or (c) secures from the holder of the hen an
<br />agreement satistaci or to Lender subordinating the hen lo this Security In.,trunient If Lender deternnnes that any part of
<br />the Property is subject to a lien wh ;ch may attain priori) over this Security Instrument, Fender tuati give Borrower a
<br />notice identifying the lien. borrower shall satisfy the lien or take one or rnrre of the acrintes set forth above within 10 days
<br />of the gnmg of nonce
<br />5. Hazard Insurance. borro,wrr ,hall kccp the nnproecmcni, rn,w existing or ccrcatrcr erected on the !'ropers}
<br />insured against loss by fire, hazard, included within the terns "e Blended cou•ragc- and any other ha: arils for which Lender
<br />requires insurance rho, insurance shall be maintained in the ernounts and for Ili. periods that Lcnder requires. The
<br />insurance carrier prosidmg the insurance shall he chosen by b, —rower whteci to I ender', approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies ad renexyais ,hall he acccptah!c• s , Lender itd sh ;,I1 rtreludc a ,taticlard mortgage clause.
<br />Lender shall have the right to hold the policies arid renewals. 11 Lcnder requires. Itorr:,wcr shall promptly give• to Lender
<br />all receipts of paid pretmtinis and rcnrwa! notices. In the .,err of loss, borrower ,hall gicoi prompt nonce to the insurance
<br />carrier and Lender Lcnder may make proof of loss it not made promptl nw
<br />y by Bor, er
<br />Unless Lender and Borrower otherwise agree Tit writing• imur n-.c pr -crcds ,bill he applied i,, restoration or repair
<br />of the Property damaged, if the restoration or repair is econonncalh fea,:hle and Lender's sccurity is nor lessened. If the
<br />restoration or repair is not economically teasihle or Lender's,ccuritt would he lessened, the msurancc proceed, shall be
<br />applied to the suns secured by this Security Instrument, w hether ,r not then duc, with any excess paid to Borrower If
<br />Borrower abandons the Property, ur .foes not answer within 30 days a notlrr trop Lo rider that the insurance carrier hill
<br />offered to settle a claim, then Lcnder may collect the rrrsur :ricer teed, Lender rim, u,c the• pro':,cCd, to repari or r'estorr
<br />the Property or to pay sums secured by this Secant} II)SIl mcr,;. whether it n „t t11en duc I he IU -via} .nod will hco.in
<br />i
<br />Allen the m;iicc is green.
<br />Unless Lender and Borrower o-thcrwls• aLrec in %mini. :in% ipph,anoti o,t 1,!- -Al, c t;, pr,ncip;il ,haH not csrcltd ill
<br />posipone the due dale of the nio nlhly payment, rattled to u1 paragraphs i arld rh. :ngc the anl,iuru o'f thc• pa, merit, 1f
<br />under paragraph 19 the Property r, a, :qutred hti [.ender. Borrower', right t„ any sn,u!,111�:C po,lrcics anal pit, reds rc,ultine
<br />fra -m damage to the Property prior to the acquisition. ,hall pass to Lcnder !o the ro.Ivni tit !!w ,tin;, seemed hi fill, Securer.
<br />Instrument tmmedialcty pn;,r !o ncc acquisition
<br />b. Preservation and Maintenance of Prroperh; Leaseholds. Ih,rro,wrr ,!!A) n;,t ofcstro,c. d.imaae of uh,Iarn. 1?
<br />change the Properh. allow the Prnperiy to de•ierioraic .11 co,nnnu waste I! Iht, scoi!1ti. In,t,;.rurnt I, :,n ., hold.
<br />Bor -imer shall eoniply wiih Ihr pt: : r,u,ns o,f the• Icase.:nrd +! Hl ,!rower aiywre, to: take !” the 1'r„l-et t,. !hc ica,ehoid .ins.:
<br />fec ride shafl not merge unless Lcnder agrees to (he mercer in :. tit nrj4
<br />?. Protection of Lender's Rights in the Property: Mort Stage Insurance. P Ilornourr tail, r,i prr!r,r,o, me
<br />.rncnanl,,rid agrccnscnt,,� :ttit :unrd in rho, SCiitm:" 1o,;rutuent.''r thci 1,a letlei ; rdm rh:oi nlas ,lgnsfcanti\ 01",r
<br />Lenders rights in ihr Pr,perth i,mh a, a ,,r.,cceding it, hanAruplcs. probate- lo-, ,nncie111n.iuIll , r 1,� :.i.nr;; tau, o .
<br />egt :laltomj,!hen Lcnder roan.nandpay i;,r whtilo',et !,nr,es,;u•. to, p• .',c ,aluc t the f'' ,,rsr, iota 1 o�n,lot
<br />in thc Property 1 under, a liow, tray uiclude paynlg ant ,01711, !,,
<br />Insir imew. apl c ,ring 1110AW 11 ntac Ya x 'ihlat atR tcx�. o , r i',
<br />nit r tI -, i k .rt'+ 7, Ler.d.
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