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63-- UU5249
<br />Lender pays Borrower interest on the Fund, 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 dehit to the Funds was made. The Funds are pledged as additional security for the sums secured by
<br />this Secunty 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 i 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, Chartres Liens, Borrower shall pay all taxes, assessments, charges, fines and impositicns 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 2, or if not paid in that manner, Borrower shall
<br />pay them on rime directly to ttie 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 pnority over this Security Instrument unless Borrower !a!
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; tb) contests in good
<br />faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion 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 Secunty Instrument. If Lender determines that any pan 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 />of the giving of notice.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing fir hereafter erected on the Proper-Tv
<br />insured against Ins% 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 ,uti)ect ro Lender's approval which shall not be
<br />unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lender Lino +hail 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 />earner and Lender Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Leader and Borrower otherwise agree in wrnine, insurance proceeds shall he applied to restoration or repair
<br />of the Property damaged. if the restoration or repair is economdcaliy feasible and Lender's securliv is not lessened. If the
<br />restoration or repair ;s not economically feasible or Lender's security wou!d he lessened, the insurance proceeds shall be
<br />applied to the sunis secured hv_ 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 />c,ffeted to settle It c lane.. rhen Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or t<! sac sums srcer:d by this Security Instrument, whether or not then due The ±0 -day period will begin
<br />when the lamer is :i%eti
<br />Unless Lender mid Borrt -r otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the Clue Dare of the nwnthlg payments referred torn paragraphs 1 and 2 or change the amount of the pacmenis 11
<br />under paragraph !U the Pr>per1% n acquired by Lender, Borrower's right to anc Insurance policies and proceeds resulting
<br />front damage to the Propern print to the acgwsmon shall pass to Lender to the extent of the sums secured by this Secunty
<br />Instrument immediately pni-r to the acquisition.
<br />6. Preservation and Maintenance of Property; I..easeholds. Borrower shall not destroy, damage of substanualiy
<br />change the Property, Anil% the Property to deteriorate or commit waste. if this Secunty Instrument is (,it a leasehold.
<br />Borrower shall er ;mp'y wiiht tote prtvt%uins of She lease, and if Borrower acquires fee title to the Propertc. the ieasehold and
<br />fee title %hall nor rrtergc unicss 1. ender agrees to the merger in writing.
<br />7. Protection of Lender's Rights in the Property: Mortgage Insurance. if Borrower tads to perform !tie
<br />covenants and agree merits atsitadned in this Security Instrunicnl. or there is a legal pr(,ceedutg Chad niay significantly affect
<br />Lender's right% in the Property 'such as a proceeding in bankruptcy, probate. i or .:ondeninallon or to enforce laws Of
<br />regulations). then Lcnuler may do and P3) fit' whatever;,, necessary to protect the valuC of the Propert: anti i_cndci'- n.tus
<br />In the Property Lender'% Ic!wns may include paying any scans secured by a hen which has p iwrits ,,ser this seem![%
<br />Instrument, Lppcana ;g. in :Burt. paying reasonable attorney's' fees and entering on the Property to make repairs Alrfwu�h
<br />Lender n;as take a,: u,,, u;IJ : :, t lire, paragraph'. Lender Joes not have to du s.,
<br />Art. amf,.0 sus J;,hu :sa•d by Lender under this paragraph 7 .hall bcomic additional wht fit $urr k%ei ccured by t.i;s
<br />set:urue 1, :sIrumcnr )'riles., iwi—r i%er and Lender agree to other terms of pa} ment. these.rrnounts shall. hcarinterest fr, rot
<br />the date of thshursement at the Now rate and shall 'it payable, with interest, upon 11c111ce Iris; 1 entice to Borr>tirr
<br />regtiesnng payment
<br />if Lender required mortgage insurance as a condition of making the Loan secured he this Security instrument.
<br />Bnrrnwcr shall pav the premiums required to maintain the insurance in effect until such tine as the requirement for the
<br />insurance •crnritares in accordance with Borrower's and Lender's written agreement or apph -able law
<br />L ll. Inspection. Lender (it it% agent may make reasonable entries utti?n and inspection% ,if the Proprrty 1 end,tr
<br />shsil gise Born was r;, +lice at nc� rime o1 fir prior to an hispecUOn specifying rcusoaablr rausc for the nisprcnur.
<br />9. Condemnation (hie proceeds of ans; ,ward or claim for damages. direct or consequential, in conneL:twn u;it'
<br />spy candy ;n ris,toll ;r :ohcr taking of any part A the Property, or for conv�%aocr rn lieu of ronderrtnati;,n, :.ie h, P.,.
<br />as- ogric,1 and • it i 1 I-W part to Lender
<br />In th< , . mt • -t a r ,t ti Inking A the Ptoperty, rile pr,cerds shall he apphed n: •he • :urn XL tired b%
<br />: %�,t !11,:tI 1w., Willi nnv vs., paid r, lit,rrr,w rr In he
<br />�rae,. ;s ,., ,.�: f : n. :i°� ,the. ;•.�tse .Itirt�, y, a + ;tinit.'hc ,arm, ,c�.,: ••J ` ,bids, �a -.; ;fir, !n•tn : ;� �,�.! ,.. ,. ,
<br />hE nn, , ; r •fit ; ;, ;t °Idea'•} ,hr h�llnwutp, Ua,�u n , ri ,. , „_ .i;{
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