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�r! �asfellow 00504.8
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<br />UNIFORMCOYFNANTS Bc....mer and LendercovtlttM0
<br />1. Payment of Principal and Interest; Prepayment and late Charges. Rorrowcr shall promptly pay when due
<br />the principal ol'and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />by Lender, Borrower shall pay
<br />2. Funds for Taxes and ltnwrance. Subject to applicable law or to a written: ,.r er
<br />to Lender on the day monthly payments are due under the Note, until the Note is pa:d in full, a sum ( "Funds ") equal to
<br />one- twelfth of: (a) yearly taxes and assessments which may attain priority over this Security lnstrument. (h) yearly
<br />the Property, if any; (c) yearly hazard insurance premiums: and (d) yearly '
<br />I leasehold payments or ground rents on
<br />mortgage insurance premiums, if any. These hems 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, unless
<br />Lender pays Harrower 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 pain, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />of the Funds showing credits and debits to the Funds and the
<br />shall give to Lorrower, without charge, an annual accounting
<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 required to pay the escrow items when due, the excess shall be,
<br />the due dates of the escrow items, shall exceed amount
<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 I% 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 />Property or its acquisition by Lender, any Funds field by Lender at the time of
<br />than immediately prior to the sale of the
<br />application as a credit against the sums secured by this Security Instrument.
<br />3. Application of Psymeah. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to amounts payable under paragraph 21 second, to Interest
<br />due; and last. to principal due,
<br />4. Charges: L1ess. Borrower shall pay all taxes, assessments, charges. tines and impositions atirthutable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />in the in paragraph 2, nr if not paid in that manner, Borrower shall
<br />Borrower shall pay these obligations manner provided
<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 prionty 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; (b) contests in good
<br />faith the hen by, or defends against enforcement of the Ilrn fn, legal pro redungs which tin 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 satisfacuory to Lender %ubirchnaong the lien to this Security Instrument. if l.cttder determine that any pare of
<br />the Property I% subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br />Mice identifying the lien Borrower shall %at%ty the lien or take one or more of the actions set forth above within IO days
<br />of thr giving of notice.
<br />S. Natard Insurance. Borrower shall keep the improvements now rxuhng or hrtrafter rrecled on the Properly
<br />insured against I,n%by fire, hazards included within the term "exi -nded coverage" and any other hazards for which lender
<br />requires insurance 1'M% insurance shall be maintained in the amounts and for the perio d% that Lender requires. f'he
<br />insurance carrier providing the Insurance shall be chcnen by Hotrower subject Io Lender's approval which shall not he
<br />unreasonably withheld
<br />All Insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause
<br />Lender shall have the right uo hold the policies and renewals. If Lender rcqunr%, Borrower shall promptly give to Lender
<br />all receipts of paid premiums and renewal note, es. In the event of loss. Bonower shall give prompt nonce to the nrsurauce
<br />carrier and Lender Lender may make proof of loss d not made promptly by Borrower
<br />Unless Lender and Borrower otherwisc agree m writing, insurance proceeds, shall he applied to restorapon or repair
<br />of the Property damaged. if the restoration or repair is ecnmoa11cally (Casllilr and lender's %ccumy I% not les%rned If the
<br />restoration or repair i% not economically feasible or Lender's security would he lessened, the insurance proceeds shall he
<br />applied to the sums secured by this Security Instrument, whether or not Ihrn due, with any excess paid to Borrower. If
<br />Borrower ahandons the Properly, or does not answer within Y) days a nonce from Lender that the Insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance prccerds. Lender may use the proceeds to repair or restore
<br />The Property or to pay sums wt:urcd by tilts Security Instrument, whether or not then due. The 30-day period will hcgin
<br />when the notwe is given
<br />Unless L.erider and Borrower otherwise agree in writing, any applicaton of precewts to principal %hall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the paymenis. If
<br />under paragraph 14 the Iltiilerty IS At: used by Lender, Borrower's right to any Insurance V0Ilcirs and proceeds resulting
<br />Lcndcr f(le Of the WIm Secured by this Security
<br />from damage ul the Property prior to tole acquisition %hall pass its to extent
<br />Instrument Immediately prior It, the acqulsoum
<br />6. Prtaervotlea sad Mainleasocle of Property; LeaaeMdds. Borrower shall not destroy, damage or substantially
<br />change the Property, allow the Property lo deirriorate or commit waste If this Smurity Instrument is on at leasehold,
<br />Harrower %hall comply with lire provlsionv of the• lease, and if loirower acquires fee title lit the Property, the leasehold and
<br />fee Irate shall not merge unless lender agrees to the merger in wrlung.
<br />7. Protectiem of Lender's Rights is list Property; MnrlgNW Insurance. It Borrnwri fails to perform the
<br />covenonf %and agreements contained In Ihi%hetmity Instrument• ur there t %a Irgal prrceedurg that may significantly affect
<br />Lender's rights in the Properly (such as a proceeding In hankrupicy, probate•. for coudelunaton or to redone laws of
<br />regulations), then Lender Inlay do and pay for whatever is nrce%%ary to plotccl the value of the Ptoprrry and l.endrt'% rights
<br />in the Property Lender'-- actions may Include paying any sutras enured by a lien *11101 has pounity over this Srcurtiv
<br />Instrument, appearing tit court. paying rrasimable attorneys lees and entering on the Property to make repairs Although
<br />Lender may lake action under Ilui, paragtaph ?, I.ender dor% nor have to do %ii
<br />Any amounts dlshur%rtl by l endri uudel this paragraph 1 shall tw, omr additi,aull drill 1�1 Bof rivet %r0urrd b% Ili%
<br />twat nnrrrst 111 +111
<br />liecurny In %trunirnt (1111"s 114111nwcl and I miter agrer t„ofhrt feria -.iii pa%owto. Ihrsr ,uniwnf%shall
<br />the date Ot drshuisenirni at ihc• Now raic .rod .11,111 hr pavahly, Atli] o ocir,a, opal nnn,r Iran I ruder o, Bo ltouct
<br />requesting pavnirN
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