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<br /> , 'tlie Funds shalI be 6ctd in an institutian whose depos3ts are iasured by a federr! agencY. inswmenratity, or enrity
<br /> ' (incI�ding I.ender.if ieader is such an institudon)or in any Federat Home laau Bantc.Lender shali aPPly the Funds to.PaY the
<br /> ,-:��.�<=`'� �� Escrow Items. Ixndec may not charge Boma�vet for tw�ding and a�pplyins the Funds.annu3ily anaJyzing the esctuw aowunt.or `
<br /> verifying tho Escmw Items,uniess Lender gays Hoaower interest oa the Funds and appiica6le taw.gemuts Lender to make such 'F, �
<br /> :� ' • � a charge.Hnwever.I.eader may re,quiie Borrowet to pay a an�time oharge for an independeat neai estate uu c�eporting servi� ��,
<br /> _ .�. .. used by Lender in wnnectioa with thls loan. �tnless applicable taw provides otherwise. UNess an agreement is made or
<br /> '� '•, apPlic�ble law requires interest to be paid.I.ender shall aot 6e required to payr Borrower any interest br e�mings on the Funds.
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<br /> `' ;� �'t` •' Sorrower and Leuder may agree ut wnting.6�wever.tt�at interest shall be paid on thc Euads.Y.ender shall give to Bomower. ,--.
<br /> without charge. an annuai acco�ntir+8 af the Funds. showing credits and debits to We Funds sud the purpose for which each r',�'
<br /> �
<br /> ,�`,f.``�� '� '.�.� debit w tlie Fuads was n�de.The Ftiads aie pledged as add'iaonal se�rity for atl sums secuted by tdis Security[nstrument. :
<br /> •���� If the Fuuds hetd By Lender eacced the ammmts permitted to be hetd by applicable taw.Lender shal!aa�unt tu Borrornr
<br /> for the excess Funds in accorda.'►ce with the reqniremenis af agplirabie law.If the amount of the Funds hetd by Leader at auy
<br /> , -- �,°_� time is not s�tcient to pay tize Esdcmw Iteu�w��e.Lender m�y so nntifY Borrower in writing,aad,in sucb case Borrower '.
<br /> � .�h ' ,.t sha11 pay to Lender tiie amount aecessary to matce ap the deficiency.Borcower shall make np the deficiency ia no more thari
<br /> . . -V�' twelve mnnthlY I�Yme�s•at Leader's sole discretion.
<br /> �'.:
<br /> Upon payment ia ful!of all sums sec�tt�ed by this Security Insuument. Lender sball promptty refand co Borrowec any �;;,.
<br /> • :::-�' Fuuds hetd by I.endes.If,under paragraph 21.Lender s6all acquire or sell the Property,Lender.Pnor w the acquisitian or sale �::_
<br /> , `,�"';��� of the Broperty,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against We suias seaued by �;-
<br /> '''' :. s•�: t6is Security Instn�neiu. �,
<br /> ::t���':� ` ..���:. 3.ApplisalIon of Fayments.Ualess aPFlical�le law provides otherwise,ai!paymeats received by Leader under paragraphs
<br /> :` `.�" 1 and 2 shall be applied:first.to anY PT�Y����due under the Note• second,w amwnts payabte nnder paragraph 2; __
<br /> tbird,to i�erest due:fourtb,to principal due;and last.to aay tate charges due under the Note. ,�
<br /> � 4.Cdaiges:Lt�s.Borcower shall pay a�k tmces,assessments,�a r�es, tiues and impasitions attn'butabte to the�erty
<br /> •f.; wluch may auain prlority over this Secvrity�ment, and teasehotd payineats ar grouud rents,if az►y. Borrowes pay �,_�
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<br /> - these abligations in the manaer provided in g�r^.s�h 2,or if aot paid f�that�manner,Borrower shaii pay t6�n on time direcKly �-�
<br /> - x�� ' io ttie:persoa owed Paymen�Bomuwer sf�aU�pru.�Y fiu�sh oo Laider all notioes of acaounts to be paid uader this paragrapb. �.�-
<br /> , ��` �� � If Botiowet tteskes.chese paymeats d�rectty, shaiL gmmpdy fumish co I.ender receipts evidencin the payments. � _
<br /> h orrower.(a)agrees in r' -
<br /> r�u� ' Borro�rer_•sli�,ll�romptty d�arge anY-tieu:which has priority overdus Sea�rity Instrum�t unless -
<br /> ,s r t'' �: � � w r i t i n g c o t h e��y�c t t of�obli g a t ion secuced t ry the lien in a manner aoaePta6le w Lender:(b)contests in gaod faitb the lien � ::.
<br /> ,� 4���`��� �� '' by, ur defends'��st enfoi�teui�irt of ti�fi�t:in, Iegat Pr'ooeediIIgs'� m�e Lender's opinion operste w pzevent the ��:
<br /> .� ;,, ; t• enforcement of ttie�lien:or(c)&ecutes frain tha holder of the lien aa�.,:iseat satisfactory to Lender subordinaung the tiea to `.�,;�..
<br /> r�F j���.; .: ;,'s, =- tins Sei.vriry Instmmen�I f T:�er d�e m due¢t h a t su�t p a r c o f t he�Pra�e rt y is sub jea W a lien w W c�may attain pnori ty over _-
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<br /> . . f this Se�arity Instru�nt,lender may give Eotrower a nat�e ideatifyirtg�ttie lien.Borrower s6a11 satisfy the Hen or take one or ___
<br /> . . more of the actions seY forth a6ove within I4 days of the giving of not's�e. .-
<br /> _� ' - ��.--� '� �5� B a�a r d o r F i n p e r t y I e�.�c u r a n s e. B o s r o w e r s h a ll k e e p t t}e i s�ruveQteRts now e.�isting,or hereafter erected nn the K<
<br /> -r - Ba a
<br /> . � :. . � �P�Y»�egainst loss by fire.ha�a:ds�includad wtthin the terin exte�ided wve�age"aad any other l r a z a r d s.i n c l u d i n g =--
<br /> , ....'�"�.'�� ttoods or flaoding,for whlcli:Lender requires insarauce.T�tis insurance shaU be maiataiaed in the amouats and for the periocls - -
<br /> ,� `"s, that Lender requires. The it�rauoe carrier pmvi d i ng t he,iusurance s h a ll 6e c hos en b y Barmwer sub jetx to I.ender's a p p roval =
<br /> . wluch sLali IIot be umcasoi�ab�yr withheld. If Barrower:�s to maintain ooverage descri6ed above, Lender rnay, at Leicder's ----
<br /> �� �:,, .�.�+: ,� opt�on.obtairt`qg!►et�e W pc�itect Lender's , ts in t he�+nperty in acco r d a n c e wi t h p a t a g t a p h 7. . . --
<br /> pa ag�a
<br /> •�` .x Alt ins�rano�,policies.atid renewals s� !be ao:�eptable to Lender and shaU include a standard mnrtgage clause.i�dec".' ' ,_
<br /> .F!�`.'•`'.� ." :� shall have the`sigtt�'tn itot4;[io t'�1[cies and�teu�is.If�.ender requins.Bormwer shall pmmptly give to Lender all��ts,o�� ; __
<br /> r�rf �s �:. . --..--
<br /> �: , �S�id`�rc{tsius��ud r�e�ral,.qoiiges.in the evem uf toss,Ba�mwer s6atl gcxe prompt notice to the insu�ance rarrier'`cutii�Lx��` .
<br /> '����: . _�:i Lei�d�inaY maxe Pmaf of to�s�f aot made pmmptiy bp��ower. � .. , .
<br /> • 'y .� Ua2ess.L�itder and Borrower otherarise agree in wre�,insurattee prac�s shall be applied w rescozat�oii ax�ieyrair of the' --
<br /> �P�Y�•if t6e n�coration or repeir-.},s economicatt�f�les�d Lentter's security ls not lesseaed.If the restoiation or
<br /> : � ::� repair is not eForiomttcally feasibte or Lender's security woald be 1es�;the insurance pmceeds shall be applied to the sams
<br /> m
<br /> . ;j seeured lsy tins Seanrity Instniment. whethe��r not then�e.witt�•�excess paid ta�Borcower. If Borcower abandons the
<br />_- - - ;. ;i• Propecty,or dccs aot aassver witbin 30 days a notice fmm Y.Bndec t1�at the insu�ance cumer has offered to settle a claim,then
<br /> _ ,� �., iendec may coAect the insurance pmc�eds• L,ender may_�se the ptoceeds to repair or resto�the Property or to pay snms
<br /> - -� secwed 6y this Sesurity Instrument.whetHer or aot then�.:.�ie 34ciuy pe��od arilt begin wkea tke.sotice Is given.
<br /> ' � ' '�,�i Unless �►der and.�orrower othemise agree in wri::,:ig,aag.,;r.;-,�o lication of prooe�to principal shall nat extend or
<br /> � �•�•� postpone the s�z:date of the monthty payments referred co in patm�+r•.�:�s 1 and 2 or change the muaunt of tha paymenis:If _
<br /> - '� under paragrapYs Zl the Pmperty is acquired by Lender.Bosr�wer'S.�za to aay insuiance pollcies aad pmceeds t�.svlting from � _
<br />- ' .�E damage to the Property prior w the acquisinon shall pass to•�ender to the extent of the sums s�by th�s Secvrity Instruraent _
<br /> '' �� - immediateiy prior to the acquisition. ' •• � , r-.
<br /> •�, .` . . 6.Uocapancy,Freservatton.Matnts�ance aad Pn7br�ion of the Properiy,,Borrow�s Laan AppUcatton;Leasehoids. ;-..
<br /> � � ` �� Borrower sball oacupy.estabitsh.and use the Property as Borrower's pr�ncipal residence within sixty days after the execution of . '°_�
<br /> : ,''t_ �,,�._('`. this Security Instrument and shalt continue to occupy the Property as Borrower's principal resPdenoe for at teast one year after ;-_.-
<br /> • < , the date of ovcupancy,unless Zender otherarise agrees in writing.which consent shall not be u�reas,�onably withhetd,or unless :,
<br /> ' eatenuating cirwmstances exist which are beyon� Borrower's oonUol. Bonower shall not destroy. damage or impair the -•-
<br />- ,_ �;�,' � Property,altow the Property tb deterIorate.or wmmit waste an the Property. Borcower shall be in defauIt�f aay forFeiture �,=
<br />° ,. � • •= y actio�or praoeedIng.wftether civil or criminal.is IKgun that in Lender's good faith judgme►�couid msult in fodeitune of the -_-
<br /> � Prpperty or otherwise materially itnpair the lien cteated by this Securit�i�Inauument or l.ender's securiry interest.Borrower may • _
<br /> . . �1`" i cure such a defauit and rein�tate.as pmvidt�d in parag�sph 18,by cau�mg the astion or proceeding to be dismissed with a ruling �r_
<br /> � -t that.in I.ender's good faith determinatica,precludes forfeiture af�Bormwer's irrterest in the Property ar other material `
<br />-�ti:�,. :,�� ..
<br /> ,,,;��.. . . '� �� impaimient of the Iten cra�ated by this Sa.vrity instrument or Lender's securiry interest. Borrower shall also be in defauit if _
<br /> 5 Sorrower.during the loan application process.gave matetfally false or inaccurate tnformatton or statements to I.ender(or failed __
<br /> ... • ; to provide Lender with any material infora�atlon)in connection with the loan evideQOOd by the Note.inciading.but not limited !
<br /> :;.: � to.re�resentatiiavs eone�rrdrtg Borrower's oecupancy of the Pr�operty es a psincipal residence.If this Seeurity Instr�tment is on a �
<br /> . ., • � teasehold, Botiqwer.shall w�ly with a!! the provisions uf the tease. If Borrower usquires fee title to the Pcoperty. the =
<br /> leasehold atui�'.t�t�'��dde shaU aat merge �r.�?�s Lender agrees to the merger in writing. _�..
<br />_ :• .� 7.Ptqt�ion of Leadet's Rtghts in the Progeei�.lf Borrowet fa�1s to perfonn the covenssnts and eements contained in
<br /> nn agr
<br /> this Securlty;riumiment, or there Is a le�;a]prooe�r73ng�.tiet may sigrrificantty affect�Lartder's rights in the Pcopeny(sncn as a �'-
<br /> r000eding in�bankruptcy.probate.for condemnatiois t�t forfeiture or to enforce laws or r�egulations),then Lender may do and
<br /> -_. ,,.,,�r:�,.,; :� P ��
<br /> } ,+;iT�� t ,��:. S pay tor�vhat�ver is necess�ry to protect the value of t►�e Propercy and Lender's rights in the Property. l.ender's aaions may E
<br />-- ;;,� sa'-, ,'; inetude payitig eny sums secured by a Iien ahich I�as prioriry over this Secutity lnsttument. appearing in eourt. paying �,.
<br /> � �' ''%"��`�� �: reasouablo attariieys'fees and entaring as►the Property to make{+epairs.Although Lender may take actton under this puragraph —
<br /> � . ' � 9.Lender does not have to do so.
<br /> • � Aay amounts disbursed by Leader ander this paragraph 7 shall beoome add'ittonal debt of Borrower secured by thls
<br /> •��� ' Security Instrument. Untess 8orrower and Lender ag�ee to other terms of payment,these amounts shall bear lnterest from the =
<br /> :1{:"".`:�.._ : date of disbursement st the Note rate and shali be payable. with interest. upon notice from I.ender to Borrower reqttesting
<br /> .. . RaYment. . �
<br /> -: .� �. S.MoRg�ge Insurartoe.If lxnder required mongage insarance as a condition of malcing the toan secnred by this S�ry '�,
<br /> • � instrument. �orrower shall pay the premiums required to mnintain the mortgage insurnnae in effect. If. for any reasnn.the
<br /> � . .� mortgage insurance coverage required by E.ender Iapses or ceases to be in effect.Borruwer shall Qay ttte premiums required to
<br /> � obtain ooverage substantiaily eq�ivatent to the mortgage insumnce previous�y in effect.ut A wst substentistlly equivaIent to the
<br />- , � . � cost to Borrower of the mortgage insu�ranre previausly in effe�. from an altemate mortgnge insurer apDrovod by Lcnder.If
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