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<br /> Thc Futxls shull b� held in un io+titutim� whusc Je�xnics are in�urai ny u tMteru� c�gcncy, in�nUmenit�hry. nr enuq�
<br /> (including I.,cndcr. if i.cndcr is surh un institution)�u in�my Fcdcaii Homc[a�:m Bunk. l.cixlcr shall npply �hc Fi�nds to puy titr
<br /> - F.,crow Itcm�. I.rndcr mny nut churgc C3un•owcr fi�r hulJing und upplyin�thc Funds.annually rmulyiing thc c+cn,w«caTUnt,ur
<br /> vcrifyiug thc E,rr�iw Itcros, unless l.cnttcr ptiyy Hurrawcr intcrest un thc Fundti unei applicahl�law�xnnits I.rndcr�o nr,ik�sur�i
<br /> ��rhargc, H�iwcvcr. l.cndcr muy rcquirc liurrawcr ti,piiy ii onc-tinic cl�urgc ti�r;m indc}x�Kicnl rcal c.rtntc liix rcFtiinin�;sc�•vi�v,
<br /> useJ hy l.ender in connectii�n with this loan. unless �ipplicahle I.iw provides otherw9xe. Unlc,x ao �igrctiment is m,ide iir
<br /> •ipplirablc luw rcyuircti intcrest tu hc paid, Ie;ndcr sh�dl not bc rcyuircd tu Nuy 8urrowcr lury intcr�s�ur carning��un tl�c Pu�xls,
<br /> f3orruwcr nnd IAndcr�nay ugrcc in writing, howevcr, that intcrest shull bc p,iid nn thc Funds. L.c:nAc�shal)givr to Borrm�•�:r,
<br />_ Wt�It�)UI CIl'JI'�;C. an annutd urcounting uf thc Funds,shuwing crcdits and dcbits tn thc i=undr +ind Ihc pur�x�sc 1i�r which ctc�t
<br />_ �Icbil tu ihr FunJ.wns made.Thc Funds arc plcdgcd as udditionid sccurity for ull sums sccurcd by tliis Sc�urity fn�drunxiu.
<br /> IF thc Fundti held by l.cndcr excced the umaunts permittcd to bc held hy,ipplicut�le law, [.rndcr tihall i�caxmt tu Borro�ti���r
<br />_ tiir the cxcess Funds in accurJunce with the reyuirements uf Applicuble luw. !f the amuunt of thc Funds held by L.nder at uny
<br />- time is not sufficicnt tu pay the Escrow Items when due.l.ender may so notify Borrower in writing,,uid,in such case Borm���er
<br /> �hull pay to Lender the umowit nccessnry to makc up the deficiency. Borruwcr tihall makc up thc dcficicncy in no morc tha�i
<br /> twclvc nwnthly payments,at Lcnder's sole discretion.
<br /> Up�m pay�tiicnt in full of all yums secured by this Securiry Instrununt, I.ender sl�all promptly nl'unJ t�n Bori�ou•��r any
<br /> FunJs held by L�n�cr. iF,undcr paragraph 21, Lender shall acquirc or scU the Proprny, [.cnder, prior ti�the ur.yuisitinn ur+n(e:
<br /> of thc Prupcny,shall apply any Funds held by [..endcr at the time of acyuisitinn or sdc ati a credit ugainst the:,unn,ecunrJ hy
<br /> tl�is Sccurity lnstrumcnt.
<br /> 3.Appficutton of Payntents. Unless applicable li��v provides otherwise, all paymcnts rtreivcd hy l.cnder andcr purii�riipl�s
<br /> I and 2 shall he applicd: tirst. to any prepayment chargc+due widcr thc Notc: sccund,tc�anwunt,payaUlc uud�r pnragruph 2;
<br /> thirJ,to intcrest due;fourd�,to principal due;and last,to any late chu�ges due under the Note.
<br /> 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributublr, tu the Pmpert��
<br /> wl�ich may uttain priority over this Security Tnstrument, and Icasehold payments or gmtuxl rents, if�ny. Hurroa�er shtr!! puy�
<br /> thcs:ohligations in thc manner provided in par:�graph 2,or if not paid in dmt manner, Borrower shall pay them or�timc dirccdy
<br /> to thc person owzd payment. Barrower shall promptly furnish to Lender all notices of umounts to be paid under this par;igrnph.
<br /> If 9orcower makcs these payments directly,Borrower shall promptly furnish to Lender rcceipts evidencing the pnymcuts.
<br /> Borrower shall promptly discharge any lien which has priority over this Securiry Instrument unless Borro:vrr: (u)a�rec�s in
<br /> writing to the payment of the obJigation secured by the lien in a ma�mer acceptable to I.ender; Ib)contests in�r«�d fuith the lien
<br /> by, or defends against enforcement of the lien in, Icgal praceedings which in the Lcndcr's opinion opcnn� to prcvent the
<br /> enfomement of the lien;or(c)secui-es from the holder of the lien an agreement,atisfactory ta Li:nder subordinating thc licii tn
<br /> thic Securiry Instrument. if Lender detern�ines thut any part of the Property is subject tu a lien which may att:tin priority o�•er
<br /> this Security Instrument, Lender may give&irmwer a notirc identifying thc licn. Borrower shaU sutisfy the iien nr takc oia;or
<br /> more of the actions sct fonh above within (0 days of the giving of notice.
<br /> 5. HAZard or Property lnsuranc�. Borrower shull keep the improvements now cxisting or hereaftr.� crected an th�
<br /> Property insnred against lass by fire, hazards included within the terni "extendecl coverube' atxl aqy other hia.unJs, inelu�ing
<br /> floods ur floc�ding, for which Lendcr rcquires insurance. Thiti insurance shall he m�in►,�;n.�t in rl,� anln�n(c:;��rt;•,���.;;�Yu�
<br /> mat Lender reqwres. "Che insunu►ce carcier providing the insurunce tihall be ciiascn by Borrower subject ta Lcndcr's apprc�v,il
<br /> which shall not be unreasonpbly ��•ithheld. [f Borrower fuils to maintain coveragc dcscribod abc�ve, Lender may, at Lcnder's
<br /> option,obtain coverage to protect Lender's rights in the Propeny in accordance with par,igr.iph 7.
<br /> All insurance policies and renewals shall be acceptnble to Lender and shall inchide a standairl uiortgnge clause. LezxJ".er
<br /> shall have the right to hold the policies and renewals. If L.endcr requires,Borrowcr shall promptly�ivc to Lcnder ull reccipss af
<br /> paid premiums and renewal notices. In the event of loss, Borrowcr shall give prompt nuticc to thc insurance carrier and Lcnder.
<br /> I..�:rtJcr may make proof of Ioss if not madc promptly by Borrowcr.
<br /> Unless L.ender and Borrower othenvise agrce in writing,insurancc praecds shall hc applicd to rcstorntiwi or repair iif th��
<br /> Pmperty damaged, if the resto.ation or repuir is cconomirully te;�sible and Lender's security is not Iessened.�f the restarution or
<br /> repair is not econonucally feasiblc or l.cndcr's sccurity would be lessenecl, the insurmuc ptocecds sh¢II be nppliucl to the sumt
<br /> secur� by this Security Instrument, whether or not Ihen duc, with any excess paid to �orrower. !f Borruwer abandons ttat�
<br /> Propeny,i�r dces not answer within 30 days a notice from Lender that ttte insur,ince carrier has offercd to settle a claim, thc;a
<br /> Lender may collect the insurnnce proceeds. l.ender may use the procecds to rcpair or restore the Prnpc:�ty or to pay sumc
<br /> secured by this Security Instrument, whether or not tlien due. The 30-day p.,riod will begin when the notire is�iven.
<br /> Unless I,ender and Borrower othcrwise agree in writing, any applicatiun of proeeeds ta principal shcdl not e!ctei�d �er
<br /> postpone the du��ate of che monthly paymea�ts ref'crreci to in parugraphs 1 und 2 or change the amount•of the payments. Jf
<br /> undcr paragraph..q the Propeny is acquired by Lender, Borrower'r right to nny insurance policies aixl proocctils resulNng frrrm
<br /> damage to the Property prior to the ucquisition shall pass to L,ender to the extent of the sums securcd by thia Security Instrt�nv nt
<br /> , immzdiately prior to thc acquisition.
<br /> 6.Occupancy,Preservatiun,Matntenance and Protertion oP the Property;Borrower's Guan Applicntinm, i,casehnkLs.
<br /> Bormwer shall occupy,establish,and usc thc Propcny as Borrower's principal residencc within sixty days aPter the excrutic�n of'
<br /> this Security Instrument and shall conUnue to occupy the Pm�xrty ns Aonower's principal residee�ce for ac Ic��St one yc;+r after
<br /> the date of occupancy,unless Lender otherwise ngrees in writing, which consent shall not lx unre.�.tivnuhly withheld, or ualess
<br /> extenuating circumstances exist which arc bcyond Borrower's control. Borrower shnll not destroy, damEigc or irnpai;r thc
<br /> Pc•o�erty, allow the Property to deteriorote, or commit waste on thc Property. Barrower xhall be in defnult if uny fnrfeituru
<br /> arc;ion or proceating, whether ci��il or criminal, is begun thut in Lender's good faith judgrnent could result in forfeiwru of th�
<br /> Proparty or otherwise materially impair the lien created by this 5ecurity Instrument or Len�icr's sccurity intonst. Uormw�er may
<br /> ' cure such a default and reinstute.as provided in parngraph IR, by causing the action ur proceaiing to be disrnissed with a ruling
<br /> �� that, in L.ender's good faith dctem�ination, prccludes forfeiwrc of thc Bormwer's intere�t in the Propeny or othcr materi�il
<br /> impairment of the lien created by this Security Instrument or Lender's s�cu�ity interest. Bormwcr shaU also be; in default if
<br /> Bonawer,during the loa►e application process, gave materislly false or inaccurute infomiation or statements tu Lender�or failal
<br /> to provide Lender with uny material information)in connection with the loan evidcnced by the Notc. includin�,but not limital
<br /> to, rcpre.sentations concerning Borrower's occupancy oPthe Property as a principal residencc.If this Seeuriry histrument is on u
<br /> leaschold, Borrower shall comply with all the provisions of the IeasW. If Bormwcr acquires fee tide tn thc Pruperty, Ui:
<br /> le:ischold and the Eee title shall not mcrge unless Lendcr agrces to thc►r�erger in writing.
<br /> 7.Protc�etion of Lender's Rights in the Property,If Borrower fails to perform che cc�venants and agneementti contaiixd in
<br /> � ihis Securiry Instniment, or there is a Iegal proceeding that may signi6c;uitly affect f..ender's rights in the Propeny (such as a
<br /> proceeding in bankniptcy, probate, for condemnation or forfciturc or to cnforc: lawa�,r regulationti), thcn L.cnJrr may do and
<br /> � pay for whatever is necessury to pmt��ct thr v;�lue of thc ProExrty and Lendcr'ti right> in the Prupeny. L,rndrr's artium may
<br /> IIIC�UdC payin� miv tiUI11S SCCLLfC(� t)V s �1rn u•hirh hac nri..ri�v . .6:. c......:... �_.._._.._
<br /> rc:isonable attomcys' fces and entcri►itt un thc Propert}•to makc rcpair.. Although�l.cndcr�niay�takc�a�'tiun�un�ler thi.�parPgr�pt�i
<br /> 7. Lender docs not have to do so,
<br /> Any anwunts disbur�ed hy i,rndcr undcr thi+ paragiaph 7 .hall hccumc additional Jcht c�f liurroa•,:�r �ccurcd by this
<br /> Security Instrumcnt. Unlcss Borro�vcr and l,�ndcr agn�to athcr tcrnis of paymcn:, thc�c ::mnunt� tih:dl hcar intrrc.rt fr�mt thC
<br /> dstc uf disbursemcnt at thc Note r�tc anJ shall he payablc, with interest, upun nutice fram Lender t�i Nu�ri»vcr royuc�ting
<br /> payment.
<br /> S. 1lfortga�e Insurunce. If Lcndcr reyuircd mortgagc in�unin�c a5 a runditiim ut'roaking thc luan accurrd by Ihi.Srcuril�- —
<br /> [nstnimcnt. Borrowcr +hall pay thc prcmiunn rcyuir��1 to maintain thc murtgagc intiur,mcc in cffcct. If', fur any rc.i+un, thc
<br /> mortgage inwr;mce ccwenige reyuired hy Lender lapses or ee;ues to be i��effec:t, Dorra�cr tiliall pay Ilic premium� myuir�d to
<br /> obtain covcragc�ub.tantially r.yuivalcnt tu thc mortgagc irwranc�;prcviously in cfTect.at a a»t tiub�tantially cyuiv,�lent t�� thc
<br /> , cpst tu &mnwrr of thc nu�rt�,igc intiur.inrc prc��iuusl}� in cffcrt. from an iiltcrn:�tc mun�agc in.urtir approv�til hy Lendcr. If
<br /> � � PJyjC 7 nl Q
<br /> . Faro�3028 9r90
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