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<br />84- 004421
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<br />Lender pays Borrower 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 Ihe F;'nds, Unless an agreement is made or applicable law
<br />requires inlerest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds, Lender
<br />shall giye 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 arc piedged 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 paYl)lenls 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 10 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 reauired by Lender,
<br />Upon payment in ful'l of all sums s~cured by this S~~rity Instrum~nt, Le~der 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, nolater
<br />than immediately prior to the sale of the Property or its acquisilion by Lender, any Funds held by Lender at the lime 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 1 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, 10 principal due,
<br />4. Charges; Liens, Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attam priority over this Security Instrument. and leasehold payments or ground rents, irany;
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, BorrowershalJ
<br />pay them on time directly to the person owed payment. Borrower shail 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 eyidencing the payments,
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees In writing to the payment of the obligation secured by the lien In a m~. ner acceptable to Lender; (b) contests in good
<br />faith the lien by, or defends against enforcement of the ~ien in, lega! "(>ce mgs which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeirure of any part ;)f the: lvperty; or (c) secures from the holder of the lien an
<br />agreement sat!sfac!ory to Lender subordinating the lien to this Security !nstr1J.men!. If Lender determines that any part of
<br />the Property IS subject to a lien which may attaIn priority over thIS Security Instrument, Lender may give Borrower a
<br />notice Iden!lfYIng 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 e"isting or hereafter prected on the Property
<br />Insured agaInst loss by fire, hazards Included wlthin 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 carner prOVIding the Insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonabiy wnhhe1d.
<br />All InSUrance pohcle5 and renewals shall be acceptable to Lender and shall 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 patd premIums and renewal noUces. In the event of loss, Borrower shall gIve prompt notice to the insurance
<br />carner and Lender. Lender may make proof ofloss If not made promptly by Borrower.
<br />Unless Lender and Borrower othern'ise agree In writing, insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, If the restoration or repaIr IS economically feasible and Lender's security is not lessened, If the
<br />re$wratlOn (Jr repalf IS not economl~al1y feaSible or Lender's security would be lessened. the insurance proceeds shall be
<br />apphed to the sums secured by thIS Secumy Instrument, whether or not then due, WIth any excess paid to Borrower, If
<br />Borrower abandons rhe Property. ui does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to seule a eblin, then Lender may coilect the Insurance proceeds. Lender may use the proceeds to repair or restore
<br />the Property or to pay sums secured by thIS Seeumy Instrument, whether or not then due. The 30-day period will begin
<br />when the nOHce IS ~l"en.
<br />Unless, L~nd~r J.od BorrOwer \)therWlS~ agree III wrHmg. any J.ppiicatIon of proceeds to pnncipai shall not extend or
<br />postpone the due Jat( ..)f the monthly paym~nls ref~rred to 1Il paragraph5 J .and.2 or ..:hange the amount of the payments. If
<br />under paragraph I Q the Property" aequlCed b~ Lender, Borrowe, " fight to allY Insurance poliCies and proceeds resulting
<br />from damage to the Propert) rnor tL) the aL:ljulslllon shall pass to Lender [0 [he extent of the ~ums ~ecured by this Security
<br />Instrument tmmedlately pnor to the dcquIsitlOn,
<br />6. Preservation and :\1aintenance or Property; Leaseholds. Borrower shall not destroy, damage or substantially
<br />(hange the Propcrt~, Ji10w the Property tv detenoraH: ,)r ..:ommlt waste. If thiS Securlly Instrument IS 011 a lc:asehold.
<br />Borro\\er shail t:ompiy wuh the pf()\lSIOnS \){ the kase, J.nd If Borrower J.~qUlres fee ntle to the Property, the leasehold and
<br />fee [Itie shall not merge unlcs:'. Lender agrees [0 the merger Hi Wrltll1g.
<br />7, Protection of Lender's Rights in (he Property; \-Iortgage Insurance. [f Borrower fads to perform the
<br />co..enants and J.greemc=nts ...-:onL.uned lTl rrBs Se(unry Insr[umeJll, l..)r there 1\ J legal pro\:eedmg [hat may slgmlicanrly affect
<br />lender's rights 1I1 lhe Pr,,-)~ny \su.:h as a pfi...-xeeJmg In bankrupt..:y. rrl.\bal~, I~)f \:I.'ndemnatlon or tv c-nfor-:e laws Dr
<br />regulaHons), then Le-nder maj (h) and ~\3j' fl.)f \'.,'h3revcr h necessary t\.) pro[et.:t rhe vaiue uf the Property and Lender',,; rights
<br />m the Prl..)penj. LCIlJer'~ ,1CHL)lb may Include paymg ;lny ~iJms secured hy a ilcn \\hl('h has pnofll: ,_l\cr Ihls SecurH~
<br />instrument. .lppeanng In .:oun, raymg rt'asur.able an0meys' fees dnd enrenng 10m the Prllperr} Il..) make rep~i!r.", .~\lthough
<br />L::nder may take .1Cl1Gn un..:kr thIS r-arJ.gr3ph .... Lender lhJCS fl01 nJ."'c [0 Jo S,)
<br />An} J:M0unb disbursed oJ Lender under [hIS paragraph ~ 'ihall oecl'mc ..IdJllh.)o;Jj Jebt uf Born..w\cr ~e...;ured by [hl~
<br />SecurHy In~trumt:fH Lnlc;s 80rrl..)\,\o.:r and L::nder ,Jgree t..) ('lht:r lams \~t' j:"'<l;. m~nt. lh~:.t' MIltlUllb ')lulj be:.u lnrere~t fri'm
<br />the date of Jtsbursemenr at the ~\.)te r::.Ht' ,1llJ ,hall be pa)abk. \"lith lnlt'fC"C l1['on 11\1([L"e ;"rI.Hil L('nJe-r [,1 FhHr..l\I,t;j
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<br />If Lender reqUired mortgage ms.urance J~ ;} l.:ondHlon ut rnaKlllg :tle lOan ~el:urcd by ihlS Secunty ln~trumellt.
<br />Borrowt:'r -;hall pa) the premIUm:) reqUIred li,) maintain the Il1surat1cc 111 c!rel"t unll] ~L!:..;h tllne .1::' the rC4ulre'l11clH for [he
<br />ms.uran"::~ !errHlnJ.tc~ In ~':cl)rdan\..-c "'un BOffl..)\\er'\ and Lo.:rhje(~ written J.grct'fficnt 01 JppllGlbk b\\-
<br />8. Inspecrion, L~ndcr ,Jr Its J.gt'l1t ma;.. make rea~onabie l:.'nlrH.':~ UpdH ~H\d llhp~,;u0n:-, ,H- the Propeny, LenJt'!
<br />~hall gl\e Elonower nUlIcr at the time \~i Gr pnor [I.) JH HlspeL.tiOfl spc..:-d^ymg re..a~mablc ":;ws<c {or the lllSp~l.."lJ\Jl1
<br />9. Condemnution. fhe prn...:ecJ.... df all;' J.w..uJ or -:Ialnt !()f Janwge~. direct c-r \,..l.l!l:'\~qllClitl..lt. tII \,:,Hilit:(lh,)ji \\.11 h
<br />3.0) (Ond~rnCl~uon nf dlhcr laking of .lll)" parr pf rhe Prvpt:r1y.. ~jf t~)f .:un..C'yan....t' l!l lieu tlf \,'\111dt'mnatl\Hl, ,tit:" heft.-'t1\
<br />J5Solgned and shaH be plUJ h-J Lc-nder
<br />In the e\'c!H ,)f a 1<)[&1 taklI1g of tht: Property. ~he proceeds "hall be .1pphcd 1,1 (he \UIl1~ "eLu(ed l~~ :hl~ :-\et'Ulll\
<br />iU'l-HUmem. \\hcther I.)f Hut Ih~ll du.e. \Allh ao)' t'x;,;cs,.) palO to BOfruwer in :he C\cot d' 3. ;\anlai :,u"lt1g <'i lhe l'ropCl;\
<br />unie~ tWffC(\\er -J,J\J Lender ~1(hawl"'c jgrce In 'v\nlln~, the :-,um~ ,,('(life'll h~ thl~ Sc\."unl~ In.,U1.HIICnf ...hall t'f redul.:t'd b\
<br />the ,.H1)(lunl ,)f The pr\xee(~' :nulllphcJ hy the ;:)llov.;ng (ra..:rwll ;aJ JJ\f; !\)lal ;H1:'lulWI ,_,t :hc ~Ulll~ ~C\..UIC\~ icnmCul,..\ii:'I\
<br />b<:fol(': lia: ~.;l."'J\1g, ,H\lded by tbllhc f,ilf lHdrkct \-a!:Jc <'/' the Prupcn:v dUlllcJlatdy'- ;-\d,)re dw :.d,lI1t'i \,]\, t'i\i.WI.-~' "h;--ll:
<br />P-dt-J re, BnH(',wer
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