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<br />UU0446
<br />UNIFORM COVFN,xN 15. Borrower and Lender coNcriant and agree ;1, follow,:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pan %hen clue
<br />the principal of and interest on the debt evidenced by the ,'role and any prcpay11101l and late charges title under file \ode.
<br />2. Funds for Taxes and insurance. Subject to applicable lawnrtoa, xri brow ;uycrbyIeti&i.Borro,rcr,hallpay
<br />to Lender on the day monthly payments are due under the Note, until the Note is paid in full. it sum ( "Fmuh ") equal I.I
<br />one - twelfth of: (a) yearly taxes and assessments which may :Main priority over this Security Instrument: (h) %earl
<br />leasehold payments or ground rents on the Property, it' any: (c) yearly hazard in, irinice prenliunu: and (d) yearly
<br />mortgage insurance premiums, Wally, These items arc called "esc:raw items." Lender inay csi prate the Funds due on the
<br />basis ofeurrent data and reasonable estimates offuturc escrow items,
<br />The Funds shall be held in an institution life deposits or account, ofwhich are insured or guaranteed by a federal or
<br />state agency (including Lender if Lender is such an institution). lender shall apply file Funds Io pay the escro% ilenrs.
<br />Lender may not charge for holding and applying the Funds• analyzing the account or verifying the escro% itents, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender ui 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 lax%
<br />requires interest ho he paid. Lender shall not be required to pay Borrower ;tit% Interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and dehits to life 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 bs
<br />this Security Instrument.
<br />If the amount of the Funds held by Lender, together with the future monthly pay nlents of Funds payable prior to
<br />the due dates of the escrow items, shall exceed life amount required to pay the escrow items when title, the excess shall be.
<br />at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly pavolem, of Fund,. if the
<br />amount of the Funds held by Lender is not sufficient to pay the escrow Items 1% lien title, Borrower shall pay u, I.ender any
<br />amount necessary hi make It the deficiency in one or more payments as required by Lender.
<br />Upson payment in full of all sums secured by this Security Instrument, I ender shall prompth refund to Burrower
<br />any Funds held by Lender. If tinder paragraph 11) the Property is sold or acquired by Lender. Lender shall apply, rill later
<br />than immediately prior to the sale of the Property or its acquisition by Lender. any Punch held hy' Lender al the little of
<br />application as a credit against the sums secured by This Security Inst runrcnt.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments recened M Lcndcr under
<br />paragraphs 1 and 2 shall be applied: first, ill late charges Line 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 title
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, lines and Impositions attributable lo the
<br />Property which may attain priority over this Security Instrument. and leasehold payments or ground rents, it' any.
<br />Burrower shall pas these obligations in the manner provided in paragraph ', or it not paid fit that [it :ulner, Borrower shall
<br />pay them on time directly to the person owed payment. Burrower shall promptly furnish to Lender all nonce, of amounts
<br />to be paid under this paragraph. if Borrower makes these payments directly. Burrower shall prompllc furnish to Lender
<br />receipts evidencing the payments.
<br />Borrower shall Promptly discharge any lien which has priority os'cr this `\c•CUrily Instrument unless Borrower (a)
<br />agrees In writing to the payment of the obligaton secured by the lien an a manner acceptable to lender: (h) contests in good
<br />faith the lien by. or defends against enforcement of the lien in, legal proceedings which ur the Lender's opinion operate to
<br />prevent the enforcement of the lien or fiorfenure of arty part of the Property: r,r (c) secures fr,,m the holder of the hen an
<br />agreement satisfactory to Lender stihordnnating the lien to [his Security Instrument. If Lcndcr defermrnes that any part m
<br />the Property Its subject to it lien which nnay attain pnorny liver this Security Instrument. Lcndcr Ina% glue Hornncrr :I
<br />notice Identifying the lien. Borrower shall satisfy the hen or take one or inorc .,f file IrIwIIN ct filth abMe w rthur 10 dins
<br />of the giving of notice.
<br />S. Hazard insurance. Borrower shall keep the impro%etnem, now cxrsling nr hcreal:cr credal .,n Ills Properly
<br />insured against loss by tire. hazards included within the Icon' cxtendco 1o,eragc" Mid..ny „Ihcr h:vaids liar %% inch Lcndcr
<br />requires insurance I'll's insurance shall be namntanled nI the anuauus ,out fit the period, that Lender require, 11`1!C
<br />1'
<br />carrier prO%Idnrg the Insurance shall he :h(,Ncn ty Burro%cr ,uhlecl to I rnde•r', appro,al which shall n.0 he
<br />unreasonably withheld
<br />Al! insurance policies and reoewnb shall be acceptable to I ender and shall include a gandaod mortgage clatlse.
<br />Lender shall base the right to hold the policies and renewal!\. If Lender ' lequire,, Borro%ci \hail prompth got, to l.cnder
<br />ail receipts of paid premiums and renewal notices In the e,enl of loss. Borrower shall gjNe prompt notice to Ilic insurance
<br />carrier and Lender. Lender may make pruofof loss d'not made promptly h)' Burrower
<br />Unless Lender and Borro %er olher%ise agree to waling. insurance proceeds shall be applied n, ics(oration or repair
<br />of the Properly d: maIged, If the restoration or repair i, econunneally tla,iblC and Lender's ,ceilrny Is not lessened fl Ihcr
<br />restoration or repair is not ecunurnically feasible or Lender's security would be lessened, the Insurance proceeds shall tic
<br />applied to the Burns secured by this Sccunty Instrument. whether or not then title. will, any ckcc,s paid In Burrower if
<br />Borrower abandons the Property, or dues not answer %Ithur V) days if notice front Lender (hat the in,orancc carrier has
<br />offered to settle;' claim, then Lcnder nray collect the insurance proceeds. Lender nay use the proceeds to repair or restore
<br />the Property or it) pay sums secured by than Seem'lty Inst'unu•nt. M nether or not Iltt•n tine. The 10-day period ,.ill begin
<br />when the notice Is givl'II.
<br />Unless Lender and Borrower otherwlsc agree m %clung, any application of'procectis to prutcrpal stall not extend or
<br />postpone theduc date of the monthly payments referred to uI paragraphs I and ' or i 11angc life :nnounl of the pay niruts it-
<br />under paragraph 19 the Prup,crty Is acquired by Lender. Bono%cr's right In ;lily Insurance policies and proceed, re,ulung
<br />from damage to the Properly prior In the acquisition shall pass in Lender to the cxlcnl of the sums ,rcun•d I'S rho tiectlr111
<br />Instrument immediately prior to the acqulsiI on
<br />6. Preservation and Maintenance of Propert); Lcascholds. Borrower ,hold not .Ir,lr.,y. ,ianiagr.•r suhsr.uluaily
<br />change fife Properly. aflo% the Property 10 deteriorate or coinnut %asic It till, In,nunient IN „n a Ic.nrhola.
<br />Brirro%cr shall comply with Ittc pro%molls of the• !cane, and If liorro%cr arquir" fire tl Y t., the Propel n, life Iea,c•hold amt
<br />fee ttic shall nil merge unless Lender agrees to to nlcrgcr 1l) %riting.
<br />7. Protection of Lender'v Rights in the Property; Mortgage Insurance. II Li.an„aer IMI, i., prrf „ItI, the
<br />:riVe11a1114 ;u1J agrccmc'nls rontaured Ili this Securns In,tri n ew. or their 1, e legal 1,1 ;,, relintt (11:11 111,1c ,ICnilicandiy elfn l
<br />Lender's rights in the 1'n)perly Wic11 as a procecding lit hdnkruptcy. prnhare !or .nnd(l.nnralloo or 11, enh,trc La%s nr
<br />regufatonsi, then Lcndr_r niay do amt pay for whateycr n nacv,,.uy io prolrl I the , aiur ntf he Proprrtc end I coder', 11011,
<br />to the Property. Lendcr's.octuns In,ry tniludc payutg ally \fill), secun•d he ., !Ian wlueli has prinr11, ',VI till, N'tmut
<br />Insrrurnent, appearing in c,mit. pe)mg reasonable atiorne•ys' tee, and elliclina ,m file I'ropertc n, iii,ike wp,111, •�Ithour it
<br />Lender nray fake• acilnn under Ills p;neltrg,h'. i ender .toes not hair to d,,.,,
<br />Any enu,unts di,burscd liy l andet ornivr tilts p;u.Ignaph 'shell tx•cnnlc Idd0w!,.I1 Jt-i,I „t If— I rt ,. ,:r,•,: !,c l lc,
<br />Se unity instruni.nt Toles, liml.,wrr Ind I c•rtdc•I egret 1„ other 1t cols ,! p ;nIt rl, the, Ln ,ill bc,, nUU.•,• 11:,m
<br />th laic . +f dnhuramcn! or Ohl \ „h• r,nr' :nrd ,Ileli hr ;.t,ai,lr „1I .1 I, 1. I It •i ,,, rr
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