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<br />003356
<br />U%' <aRM C(n i 1 A N rs Wrr<owrr and et. covcnam and agree a% follows
<br />1. PAYraeas if Priacipat and Interest; Prepayment and Late Cho
<br />the principalofand interest ®n the debt evidenced b% the Noic and
<br />�acndclate
<br />any Prepayment charge, du e utndc tale Ac 1e.
<br />2- Funds for Taxes and insurance. Sub ect to applicable law or to written
<br />a wailer b% lender. Bo
<br />to ;hall pay
<br />to Lender on the day monthly Payments are due under the Note. until the Note is Paid in full. a sum ("Ftuone 1 equal to
<br />cute- FweXih of fa) yearly taxes and
<br />and
<br />assessments which may attain priority o er this Security Instrument: Ih) yearly
<br />leasehold pagrtrettts or ground ext the Proaprrts, if
<br />ant; (c) )early hazard insurance premlunts: and (d) yearly
<br />mortgage insurance premiums, if any. These items are called "escrow items " Lender
<br />may estimate the Funds due on the
<br />basis o f current data and reasonable estimates of future escrow items.
<br />The Funds shall be held in an institution the deposits
<br />or accounts of which are insured or guarameed b% a federal or
<br />state agency (including Lender if Lender is such an institution). Lender
<br />shall apply the Funds to pas' the 'sent! items.
<br />Lender may not charge for holding and applying the Funds, analyzing the
<br />account or verifying the escrow, items. unless
<br />Leader pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower
<br />Lender tttay agree in
<br />and
<br />writing that interest shall be paid on the Funds. IWess an agreement is made or applicable taw
<br />requires interest to he paid, Lender shall not be required to pat Borrower interest
<br />any or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Finds
<br />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 addii ional security for the sum%
<br />this Security Instrument.
<br />secured by
<br />If the amount of the Funds held hi Lender, together with the future monthly' Paymems of Fends payable
<br />the due dates of the escrow items• shall to
<br />prior
<br />exc�ecd the amount required to pay the escrow items when due, the excess shall he.
<br />at Borrower option, either promptly repaid to Borrower or credited to Borrower oil monthly
<br />amount of the Funds
<br />Payments of Funds. If the
<br />held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender am
<br />amount necessary to make up the deficiency in one or more payments
<br />as required by Lender.
<br />Upon payment in full of all sums secured by this Securer. Instrument. Lender shall promptly refund to Borrower
<br />any Funds held by Lender. ff
<br />under paragraph N the Property IS snl6 or acquired by Lender, Lender shall aPP1S, no later
<br />than immediately prior in the sale of the Property or its
<br />acqutsituni hy. Lender, any Funds held by Lender at the rime of
<br />application as a credit against t lie sums secured by this Security Instrument.
<br />3• Application of Payments. Unless aPPlicahle law provides otherwise, all payments received by Lender under
<br />Paragraphs I and 2 shall he applied: first, to late charges due
<br />under the \c ti second, to prepayment charges due under the
<br />Nate, third, to amounts Payable under paragraph _: fourth, to interest due red last, to principal due.
<br />i• Liens.
<br />B -)rrower shall pay all taxes. assessments, charges• "Ines and impositions attributable to the
<br />Property which may attain priority over this Security instrument.
<br />and leasehold Payments nr ground rents. if any.
<br />Borrower shall pay these obligations in the manner provided in Paragraph 2, or if not Pal;-' in that manner. Borrower shall
<br />pay' them on time directs to the
<br />person owed payment. Borrower shall promptly furnish to Lender all notices of amounts
<br />to he paid under this paragraph. If Borrower makes these
<br />payments directly. Borrower shall promptly furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has prionty over this Security Instrument unless Borrower: (a)
<br />Agrees an writing [n the payment nf'the obligation secured by
<br />the lien in a manner acceptable to Lender: (h) contests in good
<br />faith the lien h%. at defends against en ioreemem of the lien in, legal Proceedings which in
<br />the Lender's (,pinion operate to
<br />prevent the enforcement of the lien or forfeiture of any Part of the Property: nr (c) secures from the holder of the hen an
<br />sausfacton in Lender sutu rdinating the lien to this Security
<br />the Property Instrument. If Lender determines that any part of
<br />the Property is subject to a lien which may attain priority Security
<br />over this Instrument, Lender may gt%r Borrower a
<br />notice identifying the lire. Borrower shall satisfi the lien c+r take one or morn of the actions set fi
<br />of the gn ing of
<br />notice. rth ail iyr within f0 days
<br />S• Hasid insurance. Bimiwcr shall keep the ImPmyemenis now
<br />existng or hereafter crecicd on the Property
<br />insured against Inns by fire, hazards included wtthtrt the turn "extended ct.vcrage "and
<br />7 ay
<br />requires insurance. This insurance shall he maintained in the amounts and for file periods that ziLendeir rrgwr ti�itthe
<br />msuranie carrier Presiding the insurance shall be chc sen by tine
<br />;owrr %uhtuf ±n Lender's approval which shall nut he
<br />unreasonabl% withheld.
<br />All ussurancr Policies and renewals '.hall be acceptable Io Lender and shall Include a standard mortgage clause.
<br />Lender sha11 have the right to bald the policies and renewals- If lender
<br />requires, Borrower %hall promptly gttc to Lender
<br />Ali receipt~ otpaid premiums and renewal notice!. In the event cif lens• Borrower
<br />shall give Prompt notice to the insurance
<br />career and Lender. Lender may make Pra)f of loss if trot made promptly b% Borrower.
<br />Unless Lender and Brmwer onhetwise
<br />agree In wriring. insurance proceeds shall he applied to restoration or repair
<br />Of the Property damaged, if the res[oraticm or repair is economically feasible and Lender'%
<br />restcratiCxi
<br />security is nett fe %*greed. If the
<br />car repair Is rice economically feasible car fender's security would be lessened, the insurance
<br />applied to the sums secured hv
<br />proceeds shat: ]x
<br />this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons, the PreiPerty, car doors
<br />not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to %vile a claim, then Lender may collect the insurance
<br />proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sutras secured b% this Security Instrument,
<br />when the mice is giv'rm whether nr not [lien due. The 30 -day period will begin
<br />L It" Lender and Borrower otherwise agree it4 writing. any aPPitcaiion of Proceeds to principal shall not extend
<br />postpone the due date (if the monthly
<br />or
<br />pay ments referred to In paragraph% 1 and or change the amount of the payments. If
<br />under patagtaph t4 the Yroprrh is acquired by Lender. Borrower's right
<br />to any insurance policie% aiad Pnoccrds rrsull ing
<br />from damage to the Property Prior to the acquisith)n shall Pass to Lender to the exrem of the sums secured by
<br />lastrumcnt i sately to
<br />prior the aCgtat*tttd3€i. this Secunt_y
<br />6 and'Nain of Property; I
<br />change the Property. allow the Pro rty an rite suer shall not destroy, damage of suticaaehaili
<br />S c dcierla rate or cc nimn waste if ;hu Se <unty in%trurnrnt is
<br />Bsotronyet *boll comply !list the fras�h
<br />on a +iW.
<br />preiv'ISicn`% of the Itusc. and ff Borrower acquires fee !life to the Property. ttie leasehold and
<br />fee title *hail nor merge unkss Lander agrees tc, the nirrgrt
<br />to w riling 7 of LeaderN Riots in the Pr
<br />mperty: %—
<br />lmtt�e Jnsaraacr. If Borrower Sail% to Perform file
<br />covenants and ag at
<br />tcerrcetits ccisareti in alit* Sr *,say to %trumcn[.
<br />or there Is a Ie} =.al , rt,i ccding Ilia, ntay ugr,aficanlly i7fie%f
<br />L % rgtl€t* in tine Pt(T�Trtty (xtu li as a prik.reding Ili tiatlkrupic
<br />), pfohate, l..io cnnde'niilalil i7a .+r its rtiiorcc Ilm,
<br />r `¢p��.1�+,.�t�hen Lender mat dO and pa}" for w hatcAct t%nects' af'1 so protec'1 the tafaae ltf [I7C properly a91%j I.etlder
<br />in the Property_ LC`ndCT,% atiiiins
<br />% right,
<br />may MOU{Ie Fla) trig and %a/n2y %ry�(irC'd ht .i 19C1; 44;1111! ha% pna�rll4 :i4 t'r aid �t'iurltl
<br />Insttir#a a ri, appearing In Lou". paying reasciE-sahk atiti;nt^%%, toes h%g hi'ciPl,`rt1 ri- or-
<br />c,:L,rg)a
<br />Lender and red Isla the
<br />re }tatr%.:�
<br />S take acilon under this paragraph ? Lender di ti, =t Ila%e to do
<br />so
<br />Any ad*it'tuni.. djjMrWd by Linder under lha% pyY dy l C h ' %t1 9i1 tKtt,F iC itl<�,a l< t f 1CI t t>i B)(r >>w L'i 'r 7[4'i: (1 i l?:%
<br />�- t",� lE&$tr nt�nd �, nle'3,4 L' jrrf YN Ct At6d LrflL1Fr
<br />Mai pe t(I ., �119L`! aCrn{ .,I t ii \3?7C .. !F+, %:9i is -',1 tili:,fl bt,}1 Ii3it't %' \t }t'-n;
<br />the da$e 4 4 f1S- ?�fsttttr'F?'ke #ti at the "4csry' talc and %Yti9l's t h
<br />h +a. fe, uii1,
<br />rratFie%lin;I;. pidirms'iIt r cta>i.res _ �ti .i :at. I i>itl�t '_� Ftt, =i,,w %•;
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