|
<br />84- 004997
<br />
<br />r
<br />
<br />Lender pays Borrower interest on the Funds and :lpplicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing thai interest shall be paid on the Funds, Unless an agreement is made or applicable law
<br />requires interest 10 be paid, Lender shall not be 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'andthe
<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 Security Instrument,
<br />If Ihe amount of the Funds held by Lender. together with the future monthly paylpents of Fundspayableprlor to
<br />the due dates of the escrow items, shall Cl!ceed the amoun! required to pay tbe escrow items when due, the excessshall:l?e.
<br />at Borrower's option. either promptly repaid to Borrower 01' credited to Borrower on monthly paymentsofFunrl$.>.fthe
<br />amount of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay !OLender 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 .mmediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender atlheti~of
<br />application as a credit againsl t he sums secured by this Security Instrumenl,
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received.byLenderunder
<br />paragraphs I and 2 shall be applied: fim. to late charges due under the Note;~nd, 10 prepaymenu;harges due Uliderthe
<br />Note; third. to amounts payable under paragraph 2; founh. to interest due; and last. to principal due.
<br />4, Charges: Liens. Borrower shall pay all taxes, assessments, charges, fines 3l1d impositions attributable 10 the
<br />Property which m"y attaIn pnonty over this Security Imtrument, and leasehold payments or ground. renu., if any:
<br />Hnrm"'~r ~h"j! yay :l-~ othgaitons '" ,he manner provided in paragraph 2, or if not paid in that manner. Borrower sbalt
<br />pay Ihem on Hme directly to ,he person owed payment, Borrower shall prompdy fumish to Lender all notieesofamounts
<br />10 be paid under this paragraph, If Borrower makes Ihese paymems directly, Borrower shall promptly furnish to Lender
<br />receIpts e"deftcmg the paymentS.
<br />Borrower shall promptly d.scharge any lien whu:h has priority over this Security Instrument unless Borrower~ {al
<br />agrees .n wrinng to the payment of the obliganon secured by the lien m a manner acceptable to Le..'1der, (b)contests in good
<br />fanh the lien by, or defends agamst enforcemem of the lien m. legal proceedings which in Ihe Lender's opinion openltl!t to
<br />prevent the enlorcemem of the hen or fortellure of any part of the Property; or (c) secures from the holder of the IiI:ll'1m
<br />agreemem sansfactory to Lender subordinallng the lien to thIS Security Instrument. If Lender determines that any part of
<br />the Property is subject ro a hen which may attaIn pnority over this S~ll!1!Y !~~!rum~"":ty Le::cl;;- ~~--ehi'~ &.~~~;.,-a
<br />nom:e iden"f)'mg Ille il~n. Borrower shaii satIsfy th~ lien or take o"e 0' ore of the ~,,,rions set forth above within IOdays
<br />e'l the gmng of nollC~,
<br />5. HazanlInsunace. Borrow~r shaH k~~p the lmprove,..ems now eXlstmg or hereafter erected on the Property
<br />,"sured agaHlst lu!..~ ny lire, hazards mduded ",uhln th~ term "eMended coverage" and any otller hazards for whkll Lender
<br />requlro Insurance. TlllS iflSurance ,hall be mamtamed m the amounts and for the penods thaI Lender requires. The
<br />msurance carner rroVldmg the msuraoc'" shail be chosen by Borrower subJ~t to Lender's lipproval which shall not be
<br />unreasonably ",uhhe1d.
<br />All msur.lfice poliCIes and renewals shail be acceptable to Lender and shall include a standard mortgage clause,
<br />Lender shaH have the ngh! to hOld the pOhCl~ and rcnewah. If lender reqwres. Borrower s.hall promptly give to Lender
<br />.Ii r"""'pts uf paId pr<'mlUms and renewal nouces. In the event ell loss, Borrower shall g.ve prom pi nouce to 11Ie insurance
<br />carrIer ana Len<icr. Lender may make prllof of loss.f nOI made promptly by Borrower.
<br />l' nlcss L<,nder and Borrower or heN""" agree m wTTtmg, tn,uranc~ proceeds shall be applied to restorauon or repair
<br />of the Property damag~d. ,[ the restounon or r<pan ts economl<:ally f~a."l>le and Lender's secunty IS not lessened, If the
<br />rCSIOratlOn or repalf 's n,ll ",--unomlcally ieeslbk or Lender's secuntv would be lessened, the msurance proceeds sllall be
<br />';~yhcd h"'< the ~ums ~ured by thiS Sc-.;unty Instrument. whether t)f not then due~ with any excess paId to Borrower. If
<br />Borro...er abandons Ihe ProperlY, cl( doe. nc,! answ"r wunm 30 days a nouc,", from Lender that the msurance carrier has
<br />offered tf' ,eHie a cla.m, t hen Le~der 'nas ""Heet th~ Insurance !'Hx:'eeds Lender may use the pwceeds 10 repa.r or reslore
<br />(r-~ Pr0pen,;--- ~)r rL" pav ~ums secured by thts SecuFUY instrument. whether or not then due. The JO~day penod will begin
<br />
<br />
<br />",'nen 'h.~ f!~:C~ ~~ ~'-."'~il
<br />
<br />l
<br />
<br />Unless Lender clOd R'rf""'er ,}(herw.", agre~ m wntlllg, any appltc:ltlon of prnc~ds to pnnclpal shall not extend or
<br />postpone Ihe due ..jate C'l the m,,"lhi' payments referred to In paragraphs I 'lfid : >:lr change the amount olthe paymenls, If
<br />under parllgrllph I 'j th~ Prt'perty ",iCqu.red by' Lender, Borrowers nght to any tnsuranc" pohCll~S and proceeds resulung
<br />from dam:tge to the Properts pn0r lO the acqulStllOn shall pass to Lender In Ihe e'tent of the sums ,ecured by thIS Secunty
<br />Instntment Imm~13{dy pnur H) the 3\.:QUI.MUQn.
<br />6, Pl'8ervation and :\taintt!nan<< of Property; Least!bolds. Borrower shall not d~troy, damage or subslanltally
<br />change the Property, .llow the Property 10 detenorate {IT ,'cmtnlt "'a>le. If thl5 Secunty Instrument .s on a leasehold,
<br />Borrower shall comply "'lIh the pro,,,,,,ns of Ihe lea:lCt. and If BorfO"'er acqUlr"" fee ttlle to Ihe Property, Ihe leasehold and
<br />lee lItle shall not merge unjes~ Lender agrees 10 the merger m wTTtlOg.
<br />7, Protection of Lender's Ript!l in tht! Property: ;\-tort/lllge Insurance, If Borrower falls lc1 perform Ihe
<br />""enants:l11o agreements contallled In th.. SCl.:unlS' Instrumenl, N ,hete" a legal proceedmg that may "gmficamly affect
<br />Lende(~ nght-s in the ProJ,."l-c'f!Y 45uch a..'" j prt.xt:e1:hng !J1 btlnk.ruptcy, probate. for cond.emnatiDn t1r to enforce laws or
<br />re~ulatlons). then L~nder may de and pay for whatf!\'~r IS n~t.'es.sary to protect the value l)f the Property and Lcnder'~ nghts
<br />in the Pfvpe-tl~.. !_~'n(~!-'5 :l~H,~th mOl:-'-' ;n~b;.de ~~d~iUg 311)' 'JumSc securea. by .:j hen ,,-tw:h has pnonry Q\er thIS Secur:n-
<br />IMtrument, appt!anng m 1,..ouft. pa~'mg reasonable aHorney'S' fees 3nd t'nt~nng l)O the: Pro~ny !l) make repaIrs. Al{'hou~h
<br />Lender ma~ takt' 3\-'!.lOIl under this, paragr;lph .... L~nder does not h:.ne !c do S0
<br />"'ny al"10unt' ,jl,bursed by Lender under IhlS paragraph 0 shall become a,jdlt"maJ debt ,,( Borr,)wer ,e,ured by Ih:,
<br />Secunt~ Inslrument Lniess Borr-..:,wer and Lender agree to o,thcr !e-nn'S of p~t.>m~nl. the~c amountS "hail bear lnterc'\t :'tnm
<br />the d~l-: -of di5bur~m~nl at the ~ote r:lte and ~haH ~ payanle. \\lth n1(cresL lif.Xnl nollCt: 1'J'('1m Lender 1\) BlH'f\'\\~f
<br />fe<j"~lln~ paylllt'lll
<br />[I' L~rni.:r requIred mOfll!ltJIe IOWran<:e as " condmon 01 malong tfle '(la.n ><'Cured by thts :X>CUl'lIY InStrUmelll,
<br />Bormwer shall pay Ihe premIUm. requ.red w mamtaln the msur:ance III effect untti ,uch tune ," the reqUlTemenl lor the
<br />tlt$Uran<:e terr'" "..t"" ll\ accordance wllh Borrower', and Lender', ",mten 3~reement or apphcable law
<br />II. IlQtlftfioa. Lender <'t tiS agent may make r"a;S.onahle "nme! Up'," and inspections ,.>1 the Property Lender
<br />;J\aU Iln'e Borrower nouce at lhe um.. of (If pnor ({l an lTlSpectlOl1 speclfnng reasonable cause lor the Ulspectton.
<br />9. C~ioo.. The proceeds 01 any award or chum for daotalle5, Jtn~ct or con~e<juennal, m connee''''n WHit
<br />-l:ty t;-~_n.aUQn Of otner ht_kln' of .any part f:rt the Property, (~r f':lf ~()nveyancc in heu ..}f< \."tJndemnauQo. ;tnt h~reby
<br />-1Md &,..; ~hall be paid 10 Lender
<br />In thie ~''ffil of,). lc>t.li Lalu!>. ,..r Ihe Propoerty, the i'HlCeedS ,h~ll be apphed W Ihe ,um, '''''\Ired tw Itn, SecVflt\
<br />1"~ltumc1tl, wh<:tb.er;)r nnllh<:n due, wIln an, C"':e:M p.;tIO 10 B<~rr"wer. In the event 1)/ _I pan"l! ollong of Ihe propert"
<br />lIuleu 8<:ww.....r At';d Leoo<:r "lher.....1IC ".lint III "'''Imtt. Ihe sum~ ..,cured by Illl. S.ecum, [nSlrument ,haH Oe r"uu,.d !:-,
<br />~he- ~t-~nt ,.;:}.t':~ rn:.l~;:f;.<<,\ mutupiJCd b'Y the ~~~-Hnw-Hlj: fraCti-on- {~it the k~tai '>im(}\li'H .7'1' the it-tHn:s ~~:urev ;mrne--Juuei)o
<br />hd~ t~ tJl"_rn.~ -dJv~~ b~ d.q th!t ralt' market \-a-lu(: ~A th~ Pn"Pt'rn:, l-mmt'otateh befnrt' the {atnn~ _~\n\' h;~Jl.n,'(' -...haB f>I;"
<br />l~ ~n- {k)(n:1-w~t
<br />
|