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86-�'- 104664
<br />L''vtFr)ttli C`(ryF \A`� r- narrower and Lender covenant and agree its follows
<br />1, Payment of Principal and Interest; Prepayment and Late Charges, Borrower shall promptly pay when duc
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and lute c harges due under the Note.
<br />2. Funds for Taws and Lnsuranee, Subject to applicable lan or Ina written waiver by Lender, Borrovt`cr shall pay
<br />to Lender on the day monthly payments are due under The Note, until the time is paid in full, a sum ("Fund,") equal x,
<br />one- twelfth of fa) yearly taxes and assessments which may attain priority over this Security lnstrumcnt: lb) iearly
<br />leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums, and (d) 3early
<br />mortgage insurance premiums. if any. These items are called ..escrow items." Lender may estimate the Funds due on the
<br />hasis ofcurrent data and reasonable estimates offuture escrow items
<br />The Funds shoal he held in an institution the deposits or accounts of which are insured or guaranleed by a federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrc,w 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 appiie�ble law
<br />requires interest to be paid. Lender shall not be required to pay Borrower an, interest or earnings on the Funds. under
<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 suns. secured by
<br />this Secuniv 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 c, cecd the amount required to pay the escrow items when due, the excess shall be.
<br />at Borrower's option, either promptly repaid to Borrower nr credired 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 tinder paragraph 19 the Property is sold or acquired by Lender, Lender shall apply. tit) 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 />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 Instrumem. and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations to the manner provided in paragraph 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 ofamaums
<br />to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Leader
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has pnoniy over this Security instrument unless Borrower tat
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender: (b) contests in good
<br />faith the Iten by, or defend-, against enforcement of the pert in. legal proceedings which in the Lender's opinion operate it,
<br />prevent the enforcement of the hen or forfeiture 4 any part of the Property: or (c) secures from the holder tof the hen an
<br />agreement satisfactory to Lender subordinating the hen To this Security Instrument- If Lender determines that any part of .
<br />the Ptegxny is subject to alien which mats attain pn<mty river this Security Instrument, Lender may give Borrower a
<br />nonce idemtfying the hen. Borrower shall satisfy the hen or take one ter more of the actions set forth above within 10 clays
<br />of tltc giving of rimier.
<br />5. ILarard lnsararue. Borrower shall keep the improvements ri ow ex,wingor hereafter erected ore the Property
<br />,insured against Ions by fire, hazards included within the term "extended coverage" and any tither hazards for which Lender
<br />requires inwtance- This insurance shall he maintained in the amounts and for the penods that Lender requires The
<br />insurance carrier providing the insurance -hail he choser, by Barr., v r subject to Lender`s approval which shall not be
<br />unreasonahly Withheld
<br />All insurance policies and renrwa)s 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 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 mat make protif of tons if not made promptly by Borrower.
<br />Unless lender and Borrower otherwise agree in writing, Insurance proceeds shall he applied To restoration err repair
<br />of the Property damaged, )f the restoration or repair is economically feasible and L.ender'% security is ;lot lessened. If the
<br />Ic-oration 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 Borrawcr. If
<br />Borrower abandons the Property, tir does not answer within 30 days a notice from. Lender that the insurance carrier has
<br />oflercd to sonde a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or it, pay sums secured by ibis Security Instrument, whether or not then due. The }O -day period will begin
<br />w hen the notice is givers
<br />Unless Lotter anti Borrower otherwise agree in writing, any= appinanon of prcu-ecds to pi ineirml shrill not extend .±.
<br />ixn.tlw ne the due date of the monthly payments retorted to in paragraphs I and .' or change the amount of the payments. If
<br />wider paragraph 19 the Pnipeny is acquired by Lender, Borrower's right I<) an Insurance policies and pr cr ds resulting
<br />from damage to the liropertg prior to the acquisition shall pass To Lender to the exicnt of sire suer), ccurcd hs this Sty urtty
<br />Instrument allmeitatciy prim it) The acquisitton
<br />b. Preservation and Maintenance of Property; Leaseholds. lit +rrc,wrT shall i+ i des,rI,i,. ;tat iagr
<br />change the Protwiy, allow the Progeny to deteriorate or commit waste- If th 'rani. lit) , rne, { is i ?n i lui.i
<br />s_ru +3, _ a c lv.
<br />Horrxrwer shalt co,)nply Witt) the pro%rsions <of the lease, and if Borrower acqunes fee title tc Elie Property, the leasehold and
<br />fee title shall not merge unless Lender agrees to the merger mventing-
<br />Protection of Lender's Rights in the Property; Mortgage Insurance, If litin4 wer fails us pr-rt +arm the
<br />e„venants and agrcemtiiis et)niattird in this Seuurtty tnStruttrent. or therr is a legal proceedmir that nwv mgrni ,and, L,ffvci
<br />Ltndcr s rights in the Properiv tsuch as a plot:cedrng ;n hankrupic±r, probate. for cvndemnatuln sir to tmfor "C Ittw, ,.i
<br />regulau<utsi, there I r ojer may ilo and pay for whateter is necesion, it, piotcvf the talurol tilt PnIj erts and I im,iet s ngfil,
<br />In The property Lender s btol,,ns may include !saying, any sums secures! h? 1 l ;en which has prir,rn, , ,ri ilns se ,hits
<br />Inittrument af,Mar)ng in court, patting rcir i able attnrnrys' errs and 'nlermiz n It- Pr perti T,, make repasts A!,lwugtt
<br />l elvder Tnai ta►r action undri i hi% paragraph`' 1, ender mks+asst hair I"& se.
<br />A,ii urns ++=nip, da hue sec? hi Leader under rins paragraph " shall !echo r ad ii . al , r? , , -' th-' i, - -.is, s, , r,, a.rs
<br />se`F :nip 1 t . €Tae ;ei,t I bless !lint veer and Irtxirr ngtrr;,,,)ther Tcrrns.,i p.'tirniti, ltl4w AM ,011 ?I, Al ,. , ;r -,r , ,
<br />lire ;1lic =d .Tssr+wiru -nits w jI fair 'site +,sir i, ;,l 01:411 ht, lwii ,thly' wur rr,.•t,•a . - - -- -, _ - -. -�tt ( ,,4os s.- Tt .,,_.,.
<br />'tgiia:'xtrug) =aye €.,iif
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