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8G-- 103848
<br />covenant and agree as follows:
<br />not fund Late Charges. Borrower shall promptly pay when due
<br />Note and any prepayment and late charges due under the"Note.
<br />applicable law or to a written waiver by Lender, Borrower shall pay
<br />to'L'ender an 'lliB Uay.tngrithfy payment isitiAue`ui derthe Note,'ui til the Note is paid in full, a sum ( "Funds ") equal to
<br />one- twelRh (a) pesrIy 'taffies` and.asiitssmetats which may attain priority over this 'Security' Instrunient; (b) yearly
<br />leasehold pt Artents'nr ground'.remi ottthc'Propertp, if any; (c) yearly hazard insurance premium-,;,and (d) _yearly
<br />mortgage to turance premiums. iI any These teems are ct+Iled "escrow items." Lender may estimate the Funds due pit the
<br />b is of Curren[ data and, i onabie of 644re escrow items. '
<br />�_ Tie Funds shall -be held in an tnstitutwn `thedirs °or accounts of which are insured or guaranteed by a federal or
<br />a .ti
<br />statrageney (inctu�nig'3 etidtr if f eittitr is such aft institution, LrnBrr shall apply the Funds to pay tfte escrow items.
<br />L;onder may "not charge =for tiisiding and appljing the Funds, analyzing the account or verifying' the escrow items, unless
<br />der Borrower intenFSt on ti%e Funds and.Applicatite law permits Lender to make such a charge. Borrowerand
<br />Lender may agree in writing that interest "shall be "paid `the =Funds. Unless an agreement is made or applicable law
<br />requires interES1 to be`paid, Lender shall not bt required iii pay Borrower any interest or earnings on the Funds. Lender
<br />shall gtye, to'Bbrrower, without charge an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for "which each. Jebit to the Funds was made. The Funds are pledged as additional 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 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 of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to I ender any
<br />amount necessary to make up the deficiency in one or more payments as required by Lender.
<br />Upon payment in full of all sums 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 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 sums 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 be applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due.
<br />t. Charges; Bens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these, obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay;dAem on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to WOW under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />. Borrower shall promptly discharge any lien which has priority over this Security instrument unless Borrower: (a)
<br />agrees n writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of
<br />the Property is subject to a hen which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the hen or take one or more of the actions set forth above within 10 days
<br />of t he giving of notice.
<br />S. I{itizard Insurance. Borrower shall keep the improvements now existing or hereafter erecied on the Property
<br />insured against loss by fire. hazards included within the term "extended coverage" and any other hazards for which Lender
<br />requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The
<br />insurance carrier providing the insurance shall be chosen by Borrower subject it) Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage ciause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance
<br />carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days 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 30 -day period will begin
<br />when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resuhing
<br />from damageto the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Secun,y
<br />instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substant ialh
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold,
<br />Borrowershall comply with the provisionsof the lease, and if Borrower acquires fee title to the Property, the leasehold and
<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 falls to perform the
<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect
<br />Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce few% or
<br />regulations), then Lender may do and pay for whatever is necessan to protect the value o(the Property and Lender's right%
<br />in the Property. Lenders action% may include paying any sums wcured by it hen which has priority Deer this Securty
<br />Instrument, appearing in court, paying reasonable attorne)s' fee%and entering on the Property to make repair Although
<br />Lender may take action under this paragraph 7. Lender does not has a to do so
<br />Any amounts disbursed by I ender under this paragraph' +half become .additional debi of licit ro%er scv tired he i hi%
<br />Security limirument. Unless Borrower and Lender agree to other icrms of papnaent. thence amount% ~hall tzar rnterest Mini
<br />the date of disbursement at the Slott rate avid shall he payable, with interest. uf+om notice from I ender toy fimlo%er
<br />tequesting payment.
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