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86-- 104886
<br />UN I FnRM Ctwi ti a 'ts Borrower and Lender covenant and agree as follows
<br />I, Payment of Principal and Interest, Prepayment and Late Charges. Borrower shall promptly pay when due'
<br />the principal ofand interest on the debt evidenced by the Note and any prepayment and late charges due under the time
<br />1. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />ro Lender on the day monthly payments are due under the Mote, until the Note is paid in full, a sum t "Funds "t equal to
<br />one- twelfth of (a) yearlt lazes and assessments which may attain priority over this Security Instrument; (b) yearly
<br />leasehold payments or lfound rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br />mortgage insurance prctiiiums. tf 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 be 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. finless
<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 be paid on the Funds. unless an agreement is made or applicable law'
<br />requires interest to be paid. Lender shall not be 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 avid 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', 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 payto Lender any
<br />amount nccessarp 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, bender 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 air 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 I and 2 shall he 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 taxm 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 I 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 the abligalion secured by the lien in a mariner acceptable to Letrder; (b) contests in good
<br />faith the lien by. or defends against enforcement of the lien in, legal proccedings which in the Lender's opitmotn'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 L=dcr determines that any part of
<br />the Property is sukiect to a lien which may attain Ivrionry over thrs :Security Instrument, Lender may give Borrower a
<br />notice identifying the hen. Borrower shall satisf.v the lien or take one or more of the actions set €orth above within IL days
<br />of the giving of notice.
<br />S. Hazard insurance. Borrower shall keep the improvementy now existing or hereafter crested on the Property
<br />insured against loss by fire_ hazards included %?thin the term "extended coverage" and any other hazards for which Lender
<br />requires insurance Thry insurance shall be ^taintamcd in the amounts and for the periods that Lender requires The
<br />insurance tamer providing the insurance -hail tae chosen by Elorrow-er sub ect to Lender 's approvai which J,311 rtrr he
<br />unr"sanably withheld
<br />All insurance poilicics and renewals shall be acceptable to Lender and shall include a standard rnorteage clause
<br />Lender shall have the right to hold the policies and renewals- If Lender requires, Borrower shall promptly grte to Lender
<br />all receipts of paid premiums and renewal notices, in the vent of loss, Borrower. -,hail give prompt notice to the assurance
<br />tamer and Lender. Lender may make proof of to ass if not made promptly by Borrower.
<br />Unless Lender and Porruwer othemise agree in writing. insurance proceeds shall be applied io 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 =.rr repair is not economically feasible or Lender's security would be lessened. the insurance proceed, shall he
<br />applied to the sums secured by this Security Instrument. whether or tau then due. with any excess paid to Borrower If
<br />Borrower abandons the Property, or does not answer within 0 clays a notice from Lender that the insurance earner has
<br />offered to settle a claim,?licit Lender may collect the insurance proceeds. Lender may use the proceeds to repair;,, rest; -:re
<br />the Properiy sir to pay sums secured by this Security Instrument, whether or not then. due The ±€ia ay period w lb her!n
<br />when theri liceisgisen
<br />Unless Lender and Borrower otherutsc agree in writing, any application of proceeds to principal shalt noel ette -n-
<br />p tpone the due date of the monthly pay merits referred to in paragraphs i and 2or change the amount of file pat rnrnts. If
<br />under paragraph lc4 the Property is acquired by Lender. Berrnwer's right to any insurance IKAicies and proceeds resu €tin¢
<br />from damage to the Property prior to the acquisition shall pass to Lender it, the extent of she sums secured bs thy- Se� <-1?c
<br />Instrument immediately prior to the acqutsition
<br />6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not IlesirtI, damage or sib ta;ttaais`;
<br />change the Pr,iperty_ allow 'tee Property Ira deteriorate or zumn rt waste- If this Stc urity Instrument is ,n a #ea e:..'i�,
<br />Borrower %hail comply with the provrstons of the lease, and of Borrower acquires foe talc to the Pttiperiy, the itasch-,15 anti
<br />fee title shall not merge unless Lender agrees to the merger in wrttin2,
<br />Prote_c_rion of t.cnder's _ i ktx in xf- P_r�srrr 11rus_oi to *rY ., tt qF•n r;?�z, �nit� ,__ - _'-. -, .. _
<br />covenants and agreements contained in this Security Instrument. or there is a legal proceeding that may signt aril: a''cct
<br />Lender's rights in the Proptny tmich as a proceeding in bankruptcy, probate, for condemnation or 10 cnfcrcc 44A, Ot
<br />i egulattoa%), then Lender maq do and pay for whatever is accessary to protect the valuc of the Propertpand lender s ri zt.s
<br />in the ProlIerty- Lender'+ act t<_att% may include paying any ,sums secured by a lien which has prionry +er ih.s 1,;.t fo,
<br />instrun"l, appearing in soiurr. paying rea c enable attorneys lets and entertng on the Pr aperiy t., make rcp,itr+. ern, : g..
<br />Lender may take aciioan undei this paragraph I. I.endsr does nett hasa to do so
<br />Anv amounts dishurs,rti by Lender under this paragraph' -,ball ticcome addmmial drt i ;t! fiorr,Mwrr
<br />Yco'uoo, Instrument t riless Kvr!o wes wind l_rndtr agr"t,- mhcetertas i�! payTrlr <,v_ ttecr i*,•u t� ,a�1 v: at - iii -e, :.
<br />the Glair, of at !r*r V'c�rc 'Hri and anal; roe t+jwp r, with ;nit -:est, utx "t. i, :V f>' m I- rr, #er fi::., r --
<br />retiiistting ,aF mono
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