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<br /> 2. Z�ttd:,tor Ttutea and Easumarcc. SubJect to applicable la�v or ro a rrritten��niver hy Ixnder,Borrower shall pay to
<br /> I.ender on the day monthly paycnents are duc under the Nou,until the Nou fs paid in full,a sum("Funds')for: (a)yearly taaes and
<br /> ossessmenta which may sttain priorlry over this Security Inswmen[as a lien an die Properry:(b)yearly leasehold payments or grouad
<br /> �� rentx on the Property, if any; (c)yaarly hazazd or properry ins�vance premiums; (d)yearly tlood insurance premltuns, if any: (e) „ -
<br /> v^ yearly mongage L�surance pre�iums,if any;and(�any sums psyable by Borrower so L.ender,in accordance with the provisions of �
<br /> � paragraph 8,iu lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items.` Lender may,at any '
<br /> dme,collect and hold Funds �n an amount not to exceed the maximum amount a lendr.r for a federally related mortgage loan may
<br /> require for Honoaer's escrow accouat under the federal Real Estate Settltment Procedures Act of 1974 as amended from time to �•�•'�
<br /> dme,12 U.S.C.§2601 et seq.("RESPA"),unless aaother la�ar thet applies ro the Funds sets a lesser amount. If so,Lender may,at � � >�'�'���-
<br /> any time,collect and hold Funds in an amount not to exceed the lesser a�aount. I.ender may estimate the amount of Funds due on -'��� �
<br /> the basis nf current data and reasonable estimates of exp�nditures of future Escraw Items or oWerwlse in accordance with '•-= -
<br /> {.„
<br /> � aPPlicable law. • ;-.:
<br /> The Funds shall be held in an institution whose dcposits are insured by a fedoral aBency, inam�mentality, or entiry
<br /> (includ'utg Lender,if Lender is such dn insticution)or it�a�y Fedeeal Howe Loa,z Banlc. T.ender shall apply the Funds to pay the
<br /> Escrow Items. Lender may not charge Bonower for halding and applying the Futtds.annually analyzing the escrow accouat,or
<br /> � verifying the Escrow Items,unless I.ender pays Borrower intenst on the Funds and applicable law perniits I.ender to make such a �` —
<br /> chazge. Fiow�ver,I.ender may require Borrower to pay a one-Nme charge for an independent real estate tax reporting servlce �-
<br /> used by Lender in connection with this loan, unless applicable law provides othenvise. Unless an agreement is made or . -
<br /> applicuble law requires interest to be paid,Lendar shall not be required to pay Borrower r�ay interest or earnings on the Funds.
<br /> t6at interest shall be aid on the Funds. Lender shall ive to Borrower,
<br /> � Horrower and Lender may agrec in writing, however, p g ``�t� ���,�=
<br /> ' without chargo, an annual accounting af the Funds,showing credits and debits to the Funds and the purpose for which each ;`,�,�--��•.-
<br /> debit to th�Funds was made. Tho Funds are plalged as addidonal securiry for all sums secured by this Securlty Iastrument. •
<br /> "., If the Funda held by L.ender exceed the amounts permltted to be held by applicable law, I.eader shaU accouns to ��
<br /> Bonower for the excess Funds In accordance with the requirements of applicable law. If the amount of the Funds held by "� �' '
<br /> _- . -_ -� LCII�CI at aAy iime i5 noi auiiicicvi tO pny tuc wGivW Iiclfi5 i&,iEia uuc. uii�cl 3ridj'a�8aif�j�IfU::CI'�Ii i�I�t�fS$�oIIL��ffi�iiv1 �
<br /> case Borrower sh�ll pay to Lender the ainount necessary to make up the deficleacy. Borrower shall make up the deficlency In no ,
<br /> more than twelve montlily payments,at Ixndcr's sole discretion. r, .f • �
<br /> Upon paymeat in full of all aums secured by this Sccacity[nstrument, Lender shall promptly refund to Borruwcr any ,�� ��
<br /> Funds held by Lender. If,under paragraph 21.Lender shall acquire or se11 the Property,Lcnder,prior to the acqulsition or Eale of '� �, `
<br /> the Property, shall apply any Funda held by Lender at the time of acquisltton or sale as a credit against the sums ac;cured by thls ''
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<br /> Security Insttumeat. � �'�'
<br /> 3. AppIIc�tion 9P Paymenta. UNess applicable law providrs othcrwlse. all payments received by Lend�r under ,
<br /> paragraphs 1 and 2�hall be applied: first, to eny prap�yment charges due under the Notc;scxond,to amounis payable under
<br /> paragraph 2;third,to interest due;fourth,to prtucipal due; aad last,to any late charges due under the Note.
<br />_ „ 4. ChArges; Licns. Borrower shall pay all taxes,assessmcats, chargcs. fines und Impositions amibutable to the ?'"'
<br />- ; Property which may attain prtority over this Securlry Instrument,and leasehold payments or ground nnta, if any. Borrower --
<br /> _ shall pay these obligations ia the manner provided in paragraph 2. or If not paid in that manner,Borrower shall pay them oa tiwe
<br /> . . direcdy to the person owed payment. Borrower shall promptly fumish to Lender all notices of umounts to be paid under this �-
<br />_ ' paragraph. If Borrower makes these payments directiy,Bonower shall promptly fumish to Lender receipts evidencing the
<br /> _ Qaymtats. *-
<br /> Bocrower shall prompdy discharge �ny liau which has pdorIty over this Security Ins�ument unless Borrower: (a) — —
<br />-`" agras in wrlting to die payment of the obligation secured by t5e lien in a manner accepteble to Lender;(b)contescs 9n good faith - - ---
<br />- the lien by,or defends against enforcement of the lien in,legal procadings wtuch in the Lender's opinion operate to pxevent tUe =-
<br /> �'"�::i�`�_
<br />: enforament of the 1ian;or(c)secuces from the holder of the lien�n agreement satisfactory to I.eader subordinating the lien tu .:°<<;�;_----
<br /> thia Security instrument. If Leuder determiues that any part of the Property is subject to a liea whlch may attala prioriry over �•':�-°�a
<br /> _ ' thia Security Insuument,I.ender may give Borrower a natice identifying the lien. Boaower shall satisfy the liea or take one or -�_-- -
<br /> • more of the actions sct forth above withfn 10 days of the gtving of notice. ' , i:, :��
<br /> 5. Hazard or Property Iavnraace. Borrower shall keep the improvements now ea,isting or hercafter erected on the '�����• � �+' � •:
<br /> _�:w.'�.�_..� ..�;:
<br />� , ��� Property iusured against loss by fire, hazards included witiiln the term'extended coverage" and any othcr hazards, including >; :.__�M�;.,�;:
<br /> floods or floodin ,for whic.h Lender uires Insurance. Thia inswaace shall be maintained ia the amounts and for the riods �-���--�'-�='"''
<br /> 8 �9 l� ,.�ne;•.`,.
<br /> that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's appraval ` �'�.� '
<br /> %�.n.Y::i'�.:�:.f'�r-.
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<br />_ " which shttll not be unreasonably withheld. If Borrower fails to �aintaln cuverage described above, Lender may,at Lender's � � �����_
<br />- option,obtain coverage to protect Lender's rights in the Property in accordance with puagraph 7. %.•�.';%":;�:; � �
<br /> All lnsurance pnlicies and nnewals shall be acceptable to Lender and shall include a standard mortgage clause.Leader �
<br /> shall have the right to hold the pollcies and renewals. If Leader requires,Aorrower shall promptly give to L.eader all receipts of r �`�' '�� • , , �
<br /> puid premiums and renewal natices. In the event of loss.Borrower shall give prompt notice to the insurance caaler and Lender. '
<br />- , Lender may make proof of loss if noc made promptly by Bosrower. � ' • �
<br />- - `�ct'?�- ��,,J �.. � � '
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