|
<br />I
<br />
<br />1
<br />84,""""
<br />
<br />005343
<br />
<br />r-
<br />
<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 Funds, 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 (>n Ihe Funds, Lender
<br />shall give to Borrower, without charge. an annual accounling of the Funds showing credits and debits to the Funds and the
<br />purpose for which each dehillo the Funds was made, The Funds arc pledged as additional security for the sums secured by
<br />this Se-~urity Instrument. (
<br />If the amount of the Funds held by Lender, together with the future monthly paytpents of Funds payable pnor to
<br />the due dates of the escrow ilems, shall exceed the amount required to pay the escrow items when due, the excess shall he,
<br />at Borrower's optIon, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the
<br />amounl of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any
<br />amount nece!sary 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 ils acquisilion 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 ..nd 2 shall be applied: first. to late charges due under the Note; second, 10 prepayment charges due under the
<br />:-.Iole; rhird, to amounts payable under paragraph 2; fourth, 10 interest due; and last, to principal due,
<br />4, Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain prionly 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 time directly to the person owed payment, Borrower shall promptly furnish to Lender all notices of amounts
<br />to be patd under thts paragraph. If Borrower makes Ihese payments directly, Borrower shall promptly furnish to Lender
<br />receIpts eVidenCIng the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Securily Instrument unless Borrower: (a)
<br />agrees In wnnng to the payment of the obligallon secured by the lien in a manner acceptable to Lender; (b) contests in good
<br />fauh the lien by, or defends against enforcement of rhe lien in, Ie!".! proceedings which in the Lender's opinion operate to
<br />prevem the enforcement of the lien or forfeiture of ar.y part .of t'" 'roperty; or ,~) secilres from the holder of the lien an
<br />agreement sansfactory to Lender subordinatmg the lien to t' ~e<.:(lrity Insllumoent, If Lender determines that any part of
<br />the Property 1S subject to a lien which may aHam pnonty uver this Security Instrument, Lender may give Borrower a
<br />nO!lce identIfymg the lien. Borrower shaH satisfy the lien or take one or more of the actions set forth abov( within 10 days
<br />or' the gIVing of notice,
<br />5. Hazard Insurance, Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />Insured agamsr loss by rire, hazards Included wuhin the term "exrended coverage" and any other hazards for which Lender
<br />requIres msurance. ThIS msurance shall be mamtamed in the amounts and for the periods that Lender requires, The
<br />lllsurance carner proVldlng the msurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br />unreasonably wuhhe1d,
<br />All Insuran<:e poil<:",s and renewals shall be acceptable to Lender and shall include a srandard mortgage clause.
<br />Lender shall have the nght to hold the polictes and renewals. If Lender reqUIres, Borrower shall promptly give to Lender
<br />3.11 receIpts of paid premIums dnd renewal notices. In the event of loss. Borrower shaH glve prompt notice to the insurance
<br />carner and Lender. Lender may make proof of loss If not made promptly by Borrower.
<br />Unless Lender and Borrower orherwlse agree m wnting, insurance proceeds shall be applied to restoration or repair
<br />of the Propeny damaged, :f the reslOranon or repair 's economically feasible and lender's security is not lessened, If the
<br />restoration c'r repmr lS not economl<:ally r'easlbie or lender's security would be lessened, Ihe insurance proceeds shall be
<br />applied to ihe sums secured by ,hIS Secumy instrument. whether or not then due, with any excess paid to Borrower, If
<br />Borrower abandons the Property, ,)r does not answer wuhm 30 days a nOtice from lender that the insurance carrier has
<br />offered to settle a dalm, then Lender may collect the Insurance proceeds, Lender may use the proceeds to repair or restore
<br />the Property Llr to pay sums secured by thIS Secumy Instrument, whether or nol then due, The lO-day period will begin
<br />when the nO{J~e l~ ~:\'en
<br />Unless Lender and Borro,."r L'lher"'lse agree 1!1 wnllng. any application of proceeds to prinCIpal shall not extend or
<br />postpune the due date L'fthe ""mthly paymenls referred to In paragraphs I and 2 or .:hange the amount of the payments,lf
<br />under paragraph I q the Propertv IS a.:qUlred by lender, Borrower's nght to any msurance policies and proceeds resulting
<br />from Jamage to the Pr,'perty p,.,0r IL' the a.:qulSlllolI shall pass to Lender to the e'tent of the sums secured by this Securil)'
<br />Instrument lmmctllatdy pnor [0 the a-.:quIsHIOfl.
<br />6. Pr.,.,..er>atioli and \-lainleilaJlce uf Property; Leasehoids, Borrower shall not deslroy, damage or substantially
<br />change the ProJXrt~. ;JUO\lo the Pro~rtJ :0 detenorate ~)r commit waste. If thls Security Instrument IS on a leasehold.
<br />Borrower shall .:omply with the prOVISIons of the lease. and ,f Borrower a<:qUlres fee lItle to the Property, the leasehold and
<br />fee t1tie shaH not merge unless Lendt:r agrc::es to the merger in wnting.,
<br />7, Protection of t..nder's Rights in the Property; \lortgage insurance, If Borrower falls to perform the
<br />':o\'enants. and agreements ~ont.1med m thiS SecurIty Instrument. Dr {here IS a iegai proceeding that may slgmtkanrly affect
<br />Lender'..; fights in the Pr,--'pen~- ~su~h J.~ :.l l'rL1\:ccl:hng lfl bankrupt~y. rrob3t~. for conJemnauon 0r (0 enforce la\\s or
<br />reg~lat~onsJ. !h~n. Lt~ndcr may j0 .md pay f\..1f :..vhatc\cr is ne....essar~ hJ pr0,t~d {h~ \':llu~ ~)f.th.e ProperlY .lnd ler1..::h:r> nghts
<br />lp ~!"!-= ~'r-._\~!"!: L~~;:.:~:,,'s ~:.:~~'-~::~_ :::;,;,:. :~':~~..1-= y...!.;:;.g .J.":. .'ui:,i~ .'(.;I,.UlCU l)~ .1 neli \\n1..:n ha~ pnQn~ ,--)\CI {hl$ Sccunt!
<br />Instrument. 3.ppeanng m ~ourt. paymg reasonable attorneys' fees and enlcnng \)n the Property tLl HI..lke repans. Although
<br />L~ncier mJ~ rake .l.;t10n under thIS paragraph -=-, Lender J1..1e~ nut have to do S0
<br />An~ .unounts Jtsburs~d b~ Lender under thIS paragraph '7 shaH become J.ddHi0nai debt IJt H\)rro\\cr ~t:~ured b) rlll~
<br />Se-cu.nt) instrument. Lniess Borr0v,,-er and Lender agree to ;,:ther renns I..)f paym~nL !hesc amnunb shall b~J.r iHtt'rc-;t from
<br />the dale- ,"If dtsburst:mcnt at the ~()i:e fJ.(c- .:md shail he ri.l}able. \\l1h lllterC'.it, UpL"lIl rhJtil.'C from lender t..) UI..HT0\\Cr
<br />requestmg p3)ment
<br />If LcnJer reqUIred mortgage msurance .is J. (uI1l11thHl l)t In..1KlOg Hit: ilJ;'!ll ~C't:un:Li b} [hIS Secu[lt)' Insrfulut:!.H.
<br />Borh.)\\er '}h...dl pay the premiums requned r....) matntam the lfbUr:inLt: Jfl d'lecr untd ~Ui...:h tnn!;.' a~ the reqUIrement (or the
<br />lfisurance ::dmmJ.~es m ~lCconj.J.rh,;e \\-nh Boru.)\\-cr\ .HH.i LenJer's wnHen agrct:mcnt l.'f ..lpphcable law,
<br />S. Inspectioh& Lender t,)r ItS agent ma)< rnake rea:jul1i.ible t'nlnt.~ upon and Inspectlons ,)f the Pfl,)p~rt)-_ LenJc;
<br />shallgne &'fro\\cr nl..'ti(~ at the umc ;.Jf or pnor to dB nls.pe~uon speclfymg re3.S0nabk LJ.USe- for the lHSpel.,:tI\JfL
<br />9. Condemnation. The rroc~e'ds ~,( all) ;i\\;,uJ ~n daun fur ...lamage:;. direct dr ':ollsequt"IlElal. m ....unne;.:uon Wilt";
<br />an) conJetnnaUDn ~lr mhc:r takmg \)f an:....- part l)f rhe Property. ...Jr fOT ':,,-)nyeY;.ln~c ill lieu l){ ....dnJt:mnai!l..Hl. Jl~ hcn.:t:l:
<br />.l.sslgn<:d 4fH..1 ~hajj t)(' ~;.uJ tel Lender
<br />In the e..-ent \)f a kH;,tl raking l)f the Pn..lperty. ~hc pL..h.:eeJ:-. ';.h~jJ be ~lppited tl' the ~um~ ~ecul~J b: thiS ~et..'urll>
<br />ln~aume;IL \\he!her ,,'If lk\t dtcn due, With any ex.,;es::-, r'~iHj to Borro~-'er in the eYent ...,f ~ rdnla! takIng 1..)( the PrupcrT ,
<br />urdes~ fkHli,Jw~~r ~Htd Lt.'m.ier ;_\[hcr\\~~t .l~re~ m wfnmg, tile )UH'b s-t'("":uf~d b~ thl~ Se'\:ur~t: ln~l;"urncn( ~haJl bt.- rt.Ju,,\:J
<br />the ,H'Yl(PJllt ;\f !h~ pru-..,.:-ec":,, nlUiUp;lt~J hI 1hc f!liJGv.-mg fradli.J!\ t..J1 (~t' !(Hai ar:.1..1un:. ,':" lhe .,um~ )c~:uretj l;1l111",'\.lf.HI..'
<br />jy-:fl.'if: :h(" ~,l~;;'i~, ,;~-",-\.kd :,..,,,~ ;t.; ;h~ (jll ,-n~in-~ct '-..i~u..: ,_~(iht: Pf~-'p-.....n'r .~:lU(C,,~;;jtc;\ :'C-LHt' ;hc ',!klfl~ -\l.\ h,i.L,ln...~_< ,)~u,;
<br />r:<lh..1 :~_o fkl)'!')\-';, \~~
<br />
<br />I
<br />...
<br />
|