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<br />85-NMM- 002056
<br />Lender pays Borrower interest on the Funds and applicable law Lender to
<br />permits make such a charge. Borrower and
<br />Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is
<br />requires
<br />made or applicable law
<br />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
<br />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
<br />arc 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
<br />the due dates of the escrow items, shall to
<br />prior
<br />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
<br />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
<br />when due, Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments
<br />is required by Lender.
<br />Upon payment in full of all sums secured by
<br />this Security Insrr rnent, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If under paragraph 19 the Property is
<br />sold or acquired by Lender, Lender shall apply, no later
<br />than immediately prior to the sale of the Property or its acquisition
<br />by lender, any Funds held by Lender at the time of
<br />.application as a credit against the sums secured by this Security
<br />instrument.
<br />3. Application of Payments. Unless applicable law
<br />provides otherwise, all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due
<br />Note: third, to amounts
<br />under the
<br />payable under paragraph 2: fourth, to interest due; and last, to principal due.
<br />4. Chatges, Liens. Borrower shall pay all taxes,
<br />assessments, charges, fines and impositions attributable to 0 -
<br />Property which nay attain priority over this Security Instrument,
<br />and leasehold payments or group , rents, if a ny
<br />Borrower shall pay these obligatio ns in the manner provided in paragraph :, or if not paid in that manner. Borrower
<br />pay them on time directly
<br />shaii
<br />to the Person owed payment. Borrower shall promprly furnish to Lender all notices of amounts
<br />to be paid under this paragraph. If Borrower makes these directly,
<br />payments
<br />receipts evidencing the payments.
<br />Borrower shall prom; by furnish to Lender,
<br />Borrower shall promptly discharge any lien which has
<br />priortt% over this Security Instrument unless Borrl }wen: (a?
<br />agrees in writing to the payment of the obligation secured by the !ten
<br />faith % r:
<br />;n a manner accep ;etc? Lender: , },l contests oa
<br />the lien by, or defends against enforcement of the lien in, legal
<br />proceedin¢s which : Le: ;der s >?r3nton ug grate t ,
<br />prevent the enforcement of the lien or forfeiture of any pan of the Property;
<br />or (c) secur�e5��t,om ,..e holder of the ile l
<br />n an
<br />agreement satisfactory to Lender subordinating the lien to this Secunty
<br />Instrument If I,.endN dNte,- -minty, t4 at ar;z mart
<br />the Property is subject to alien which may attain priority over this Secunty
<br />I. ^,strum e:; t. Lender may g,de BCrr ^ib'ri
<br />notice Identifying the lien. Borrower shall satisfy the lien or take one or
<br />of the giving of nor ice. more of the actions set > ,rth aho`e within ; ^ ,yaya
<br />5. Hazard Insurance. Borrower shall keep the improvements no« existing , r r.`t'2Iter
<br />insured against ioss by
<br />erec'ed on tie Prrpe -,,,
<br />fire. hazards Included within the term "extended coverage'
<br />requires
<br />.and .any ,,the h:azar is fair t' Ouch, Lender
<br />insurance. I}tls 'risurance shall he maintained in the amounts and fir
<br />insurance
<br />t`3
<br />car er ^r idir; c er •, s L� der auirca ;
<br />€ the insurance .hall he chosen by Borrower
<br />unreasonat±ly � -s thhe'3d. suoiert t..� Le.),dcr
<br />All Insurance policies 'and renewals shall be acceptable to Lender an(,, ,h a l :rc ale ;,
<br />Lender s}iall have the right 10 hold
<br />P the policies and renewals. If Lender requires. rsnrre LAP r ;eN t,, i_e. ^., r
<br />recoil ,s l Laid premiums and renewal notices. In the event loss, `
<br />of Borrower b11all
<br />JiMC., end I_ender !_ender ^:; make proof oflcs: if not m:de pr:a,:,ptly by I3<.; r; ..,, � ' " : • o the insurance
<br />L;niess Lender
<br />and Borrower otherwise agree in writing, insurance proceeds shall ap ,
<br />._=f the Propert% damaged, if the restoration car repair is
<br />economically feasible and Lender s se�nntv�slnotllessened If the
<br />restoraa on :Ir re,Ialr is nor econornrcaily feasible or Lender's security would hr iesserled.
<br />the insurance proceeds shall be
<br />applied t= the Sums secured 1?y this Security Instrument, w ;
<br />Borrower ahandt)ns the Property,
<br />or does no( answer within 30 days a notice a from m Lender that the irsurancNBorrower. arr carrier
<br /><'d'ered tc) setlle :a claim, then Lender may collect the insurance
<br />t proceeds. Lender may use the proceeds rci repair or restore
<br />then the r } cfr tri pay cures secured by this Security Instniment. whether
<br />,A
<br />hen the r?: ?tiCC 14 Rt6'Nt1_
<br />or not then title i�he 30 -day period will begin
<br />Urlie%s Lender and Borrower ether wise agree in writing, ally application of proceeds to principai ,had not extend or
<br />Postpone the due date of the monthiv
<br />payments referred to in paragraphs I and 2 or ,:Itange the amount Of the payments. It
<br />under paragraph Ire the Iroperty is acquired by Lender, Borrower's
<br />right ro :any insurance policies and I.ro :eels resulting
<br />from damage to the Property prior t > the acquisition shall pass to Lender to the Extent
<br />Instrument
<br />()f rF:c .,urns secured by this SecI I %
<br />immediately prior to the acquisition.
<br />6• Preservation
<br />and Maintenance of Property; Leaseholds, Boi rotwer shall riot destr iy, damacte or suhstantialiy
<br />change the Property, ,l,,OA the I'rctperty to deteriorate Or '01nrtalt
<br />al,'.
<br />46 ;4Ste !t tr11S `CCIJnr� InStrurnent i, on / Istant
<br />asel
<br />Borrower shall LOrnpl°, with tiie pr; - ;sIorls of the lease, and it Borrower
<br />:1 c: ii till CS .,cc title rC> Ihs' Property. the iCale ails.
<br />fee title shall not merge un <cs, I ender 39.rees t,? the merger Iii writing
<br />7. Protection of Lender'% Rights in the Property; �1Pirt i
<br />Covenants g: ge insurance. 1' fl
<br />and I Pr,iL�c fali� r :� perform he
<br />der htS SCCUr;ty last! a nc:n �r iht,t 1,, k 91 ft �C C.l,
<br />Lender's rights r3£
<br />p c ai
<br />.] Ile i ttly aid.
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