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Home My WebLink About0978 by Le~der. Upon payment in full of all sums sectired by this Seairity Instrument, Le~der ahall prcuptly refucd to Borro~aer any FLcda held by L~der. If under parsgraph 18 the Property ia sold or acquired by Lender, Lerder shall apply, no later then im~diately prior to the sale of the Frq~erty or its acquisition by Lender, a~ry FL~s held by Lender at the tiooe of applicatioc~ as a credit a~einat the sumB secured by this Security Instruma~t. 3. Applicatian of At~ata. Unless applicable law provides otheiwise, all payments received by Lender urder para,graphs 1~ci 2 shall be applied: firet, to late charges due u~der the Note; second, to prepayment ' charges ~e ucder the Note; third, to amounts payable under paragraph 2; fwrth, to intereat due; and last, to ~ principal due. • ` 4. Qss~; Liena. Borra~wer shall pay all ta~oes, assesaments, charges, fines and impositions attributeble ' to the Property vhich may attain priority wer this Security Instniment, and lessehold payme~ts or graunds re~ts, j if am?, Bvrro~r shall pay these c~bligations in the ~u~er prwided in par$graph 2, or if not paid in that ` mau~er, Borrow~r shall pay them on time directly to the person o~d payment. Borro~wier shall promptly furnish to Le~der all notices of mawnts to be paid under this paragrad~. If Borrawer makes these nayments directly, &~rro~wer shall pro~tly furnieh to I..ender neceipts evidenci,ng the payme~?ts. Borrwer shall pramptly discharge any lien which has priority wer this Security Inetrum~nt unless Borra~r: (a) agrees in Writing to the payment of the obli$ation seeured by the lien in a manner acceptable to Lender; (b) ccx~tests in good faith the lien by, or defends againat enforcement of the lien in, le$al proceedings which in the Lender's opinian operate to prevent the enforcement of the lien or forfeiQire of ~y? part of the Property; or (c) sec~res fram the holder of the lien an agrearent satisfaetory to Lader subordinating the lien to this Secvrity Instrument. If I,exder detetmines that acry part of the Property is subject to a lien which may attain priority wer this Se~vrity Instnin~nt, T~der may give Borrawpx a notice identifying the lien. Borraaer shall satisfy the lien or take one or mc~re of the actions set forth abave within 10 days of the giving of notice. 5. Bssard I~nran~e. Borrower shall keep the inprwenents now existing or hereafter erected on the Property inaured ag,ainst loss by fire, hazards include~ within the term "extended cwerage" and a~ry other hazacds for which Le~der requires inairm~ce. 'It~is insurance shall be maintained in the amwnts arr3 for the periods that L~der requires. The inair~ce carrier prwiding the insurance shall be chosen by Borro~wer aibject to Lender's apprwal which shall not be unreasonably withheld. All inairance policies and renewals shall be acceptable to Lendex aid shall include a stadard mort~ge cla,~se. Latider shall have the rig~t to hold the policies snd reneWrals. If Iender requires Borrower shall promptly give to Lader all receipts of paid premiums and renewal notices. In the event of loss, Borrnwier shall give prompt notice to the insurance carrier and Lender. Lender may make pro~f of loss if not made proa~tly by Borr~r,~er. Unless Lerxier and Borrower otheiwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property dau~ged, if the restoration or repair is eca~omically feasible and Lender's security is not lessened. If the restoration or repair is not eca~anically feasible or Lader's security wauld be lessened, the insur~ce proceeds shall be applied to the eums secured by this Security Instrume~t, Whether or not then due, ~ ~th any excess paid to Borrawer. If Borruwier abatdons the Property, or does not anst~er within 30 days a notice ~ from Lender that the insur~ce carrier has offered to settle a claun, then Lender may collect the insurance € prc~ceeds. Lader may use [he proceeds to repair or restore the Property or to pay sums secured by this Sewrity ~ Instrumeret, whether or not then due. The 30-day periad will begin when the notice is given. ~ Unless L~der and BorraWer otherwise agree in writing, arry application of proceeds to principal shall not ~ exteod or postpcxie the due date of the monthly payments ~ferred to in paragraphs 1 ad 2 or change the amount of ~ the payments. If under paragraph 18 the Property is acquired by Les~der, Borrawpx's right to any insurance ~ policies and proceeds resul[ing from dan~3ge to ti~e Property prior to the aoquisition shall pass to Lender to the ` extent of the sums secured by this Seourity I~trument im~diately prior to the acquisitiaci. ~ 6. Pc~eeeYVatian aod t~inteo~on of ~ Ptoperty; Le~Mlda. Borrowpx ahall not destroy, darmge or ~bstantially cha~ge the Property, allow the Property to deteriorate or caarmit waste. If this Security Instrument is on a leasehold, Borrower shall camply with the prvvisicros of the lease, atd if Borraaer acquires ~ fee title to the Property, the leasehold and fee title shall no[ merge unless Lender agrees to the ~rger in ~ ~ writing. . ~ 7. Protection of Le+oder's Bighb in the PruQ~erty; Moetg,~e Ineuraooe. If Borrow~er isils to perform the ~ ~ cwena?ts a~d agreema~ts contained in this Secvrity Instru~nt, or there is a le~al proceedu~g that may ~ significantly affect L~der's rights in the Property (auch as a proceeding in bankniptcy, prabate, for ~ cadeanatian or to enforce laws of regulatioas) , tiien Lender may do axi pay for whatever is necessary [o protect ~ ~ the value of the Property and Lender's rights in the Property. Les~der's actions may include paying acry sums ~ ~ sewred by a lien which has priority wer this Security In~trumPnt, appearing in court, paying reason~le f g attorneys' fees acd a?tering on the Property to make repairs. Although La~des may take action u~er this ~ paragraph 7, Leoder does not have to do so. : Any amwnts disbursed by Lender under this paragraph 7 shall became additiooal debt of Borro~wex secured by j this Security Instniment. Unless Borra~wer ~d Lender $gree to other terms of payment, these amounts shall bear ~ interest fram the date of disbursenent at the Note rate ard shall be payable, with interest, upon notice frcm ~ ~ ~ ; ~t G' il F 4 # j ~ , ~ 1 ~ F: I~I~TIAL HERE i~• ~ ~ e°~0 5 31~ F~.r,~0 9 7 6 z : s , _ _ ~ _ . r.~.-,. -.s-s,. f • ~ . ' _ ~ ----~~----_`..___~_.y_ - - t,.. 1