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86-- 104119
<br />UNI FOR, M CUVESAN-Ts. Borrower and Lender c:4 .enant jnd agree as follows -
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pa% when due
<br />the principal of and interest on the debt evidenced by the Noteand any prepayrent and late charges due under the 1:,te
<br />2. Funds for Taxes and Insurance. Subject ui applicable law or to a written waiver ov Lender. Borrower shcdl pay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds'-) equal to
<br />one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument: (b) yearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (di yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the
<br />basis of current data and reasonable estimates of future escrow items.
<br />The Funds shall he held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall 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 Funds. Unless an agreement is made or applicable law
<br />requires interest to 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 showing credits and debits to the Funds and the
<br />purpose for which each debit 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 Lender 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 tinder 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 />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, and leasehold payments or ground rents, if znv.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br />pay them on time directly to 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 promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of th,- 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
<br />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 lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
<br />4:
<br />of the giving of notice.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected 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 to Lender's approval which shall not he
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. if Lender requires, Borrower shall promptly gice 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 wasting, insurance proceeds shall he 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 he
<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 10 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 be this Security Instrument, whether or not then due The 30 -day period will hegui
<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 I and 2 or change the amount of the payments if
<br />under paragraph IP the Property Is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting
<br />from damage to the Property
<br />prior to the acquisition shall pass tci Lender to the extent of the sums secured by this Security
<br />instrument immediately prior to the acquisition.
<br />6. Preservation and Maintenance of Property-, Leaseholds. Borrower shall riot destroy, damage or subsianitaik
<br />change the Property, allow the Property to deteriorate or commit waste. If this Security instrument is on a leasehold.
<br />Borrower shall comply with (tic provisions of 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 fails Its perti,rni the
<br />covenants and agreements contained in this Security Instrument, or there is a legal procecdmg that may stgiuficantl\ aired
<br />Lender's rights in the Property isuch as a proceeding to hankruptcy, probate, for condemnation i io enforce i'l i,r
<br />regulations), then Lender map do and pay for whatever is necessan ro protect the \clue of the Properi and Lender's rlLhis
<br />in the Property, lenders ictlon, may Inc ud- pa'ollg any sump secured h} alien which has pnort} , ,el This sc,:ni.
<br />In%tTiiment. appearing in _t1r, ^f paying rCasl n:IhIC .tlt\?rtlYy t' tees an,l erltCring ,rl !h(. : , nl "'.
<br />L Lender may take acu Sri under ihls Par �•arh [ ndcr does nol hate to do
<br />its ar ur.N Jisb,ir ctt , l ei io - 11 nder, ii Is pa rag aph .hill , or. le add ,.Iona I dcht t IIor vv r 1 h v .
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