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<br /> 97- i��9t.a�i9
<br /> 'Chc Fui�l� �:hall he held in u�i inytitutiun whosc deposite arc inxured by a fedcrai nger,cy, instrunkntul ty. ��r entiry
<br /> (including L.cixlcr, if I.cndcr is such an insdtucion)or in any 1'ccicral Ilomc l.oan Bank.l.atndcr�hall upply thc FunAy to puy tlic
<br /> P.scrow[tcmv.l.endcr nmy nrn churgc Aorrowcr f�r halJing nnd npplying thc F�unds, unnuully unaly�ing thc escrow cucaunt, ur
<br /> verifying the lir-rruw ftems, unletis I.ender pays!�i►rrower hrterest on�he Fun�s .md���plfcuM� luw pr.rmits I.ender ta make such
<br /> u chargc. Howcvcr, 1,���(er muy rr.,s�ire H�irrawcr to pay u c�nc-timc churgc fur un indape�xJent real cstate tax rcpnrting scrvice
<br /> used hy l.ender in coemectlon tvlth this loun, unlcsti applicnble law pmvides otherwis�. Unlesx un ugrcemene iy nwde ar
<br /> npplic��blo luw rr.quircr lutcrest to bc puid, I.cnJcr sl�ull not bc rcqulred tn pay I3orrowcr uny intcrest ur carnings on thc f'uncis.
<br /> qtirriiwcr und l.en�lcr may :�grcc in writing, hotwevcr, that lmerest shall be�pnid on thc Fuixis. l.er�cr shall give to t3c�rrawer,
<br /> without char6e, un mmuul u�counting of the Futxls, showin b+ cralitv utxl�icbits to thc Funds und the pur�xnc tiir which et�ch
<br /> debit to�he Fuixlti wny m�le.Thc runds nrc pleJged as additinnril security for nll sunzs secured by this Security Instru►nent.
<br /> !f Ihc l�unds hcld by l.cndc�'cxc,^.ct!thi amuunts�x:�•mUtal ta hc hcld by applicaGlc luw,[.cndcr shall ucuwnl tc�Dc��rowcr �-
<br /> for the exce�s Fu�xls in acr�rdance with the requirements af applicabl�:law. If the amount of the Funds held by l.crxler at uny
<br /> time is nut suf6cient to pay thc Lscrow Ttems when due. I.ender may tio naNfy Bnrmwer in writing, und, in such cuse Borrower
<br /> shnll pay to Lender the amount necessa�y co make up the deficiency. Bc�rrower shnll muke up the deficiency in no more than
<br /> twclve mnnthly pAymettts,at I.e►ulcr's solc discretiun.
<br /> Upon payment in full of all smns secured by thi5 Security instrumcnt, Lender shall promptly retLnd to Borrower any
<br /> Funds held by Lcndcr. If,undcr parngraph 21,L.ender shall ucquire or sell the Propeny,l.eixler,pri�r to the�icquisi[ion ar sale
<br /> of the Propeny,shall apply any Fund�hcld by[.ender at the time of ncquisition ar sale�.5 a credit aga�nst the sums secured by
<br /> this Sccurity Insh-umcnt.
<br /> 3.Appflcat[on of PAyments.Unless applicable luw providGS otherwise,all payment5 received by L,ender uRder paragraphs
<br /> 1 und 2 shall be upplied:first, to any prcpuyment charQes duc under the Note; second,to amounts�uyub[c unclr,r paragraph 2;
<br /> third,to interest due;fourth,to principul duc;and last, to nny late char�es di�e undcr thc►Yatc,
<br /> 4.Chargcs; Llens.Borrowcr shall pay aU tuxcs, assessments, charges, fincs nnd iin��ositions atn•ibutable to tltc Propc��Cy
<br /> which may attain priority over this Security Instrument, and le:isehold payments or ground rents, if any. Borrower sliall pay
<br /> thesc obligations in the n�nner provided in paragraph 2,or if not paid in that manner, Dorrower shull pay tlicm on time direct[y
<br /> tu the person owed paymcnt. Borrowcr shnll promptly fn��rnish ro L.ender ali notices of amouncs [o bc pnid under this paragrapb.
<br /> If Borrower makes thcse pay��enGs directly,Hormwca's'h.�11 prom�tly furnish to Lender rcccipts evidcncing tlie pi�yments.
<br /> Barrower sl�all promptay di;charge any lien K�hich hns pnoruy c,��r this Securiry Instrument unless Bun•ower:(aj n�recs in
<br /> writing to the pa,yriient of thc obligation y�;ured by thc lien in u ma�nue�nccepcable to I,ender,(b)contesGs in gond faith the lien
<br />, by, or defent�s�gainst enf�rcement of u9�e lien in, legAl proceeelia�;s which in the Lender's opinian opernte to pcevent the
<br /> enf�vicement ot'the lien;or qr)secures f�om the halcier af the lien an ngreement satisfac�ory ro Lender subardinating the iicn to
<br /> thi;Security Inst�vment.l?1.ender determines that nny p�rc of the Property is subjerz to a lien which may attciin priority over
<br /> this Security Instrument,Lender m�y sive Borrower a notice identifying the lien.Borrower shall satisfy the licn ar take one or
<br />� mare af the actions set fanh above within !0 days of the giving of notice.
<br />� 5. Hazard or Praperty I�surance. Borrowcr shall kcep the imQrovements now cxisting or herc:iftcr crectcd on the
<br /> Property insurcd uguinst loss by fire, huzards included wlthin the term 'extcnded covcrage"and any other hazards, inciuding
<br /> floads or flooding. for which Lendcr requires insurunce. This insurance shall be roeintained in the umounts und far thc perietls
<br /> thut l.ender requires.The insurance ca�rier providing the insurance shull be chosen by Borrower subject to Lender's upprovul
<br /> which shuji no�be unreasonaoiy wichneid. Ii Borrower faiis to maintuin coverage describe� upove, i.ender may, at I.ender's
<br /> option,obtain coverage to protect Lender's rights in the Property in uscordanee with puragraph 7,
<br /> All insurance policies and renewuls shall be ucceptable to Lender and shull Inrlude a stundurd mortguge clausc. Iaixler
<br /> shall have the right to hold the policles and renewalti. If I.ender requires,Borrower shall prompNy giv�to Lender uU receipts uf
<br /> paid premiums und rcncwal iwtices. In the evcnt of loss, Borrnwer tihull give prompt notice to thc insarunce currler ancll..ei�dcr.
<br /> Lc��der may muke prcx�f of lass�f not madc promptly by Borrowcr.
<br /> Unless Lender and Borrower othcrwisc agrec in writing, insurirtcc proceccls shall bc applicd to restoretio�or repair uf the
<br /> Property damagod. if the restoration or repair is economically feusible and Lender's security is not lesse��eci.If the restoration or
<br /> repair is not economically feasiblc or[.e:�dcr's sccurity would be lessencd, the insurunce proceeds shall be applied to the sums
<br />- sccured by this Security Instrumcnt, whethcr or not then due, with any excess paid ro Borrowcr. [f Barrower abandons the
<br /> Property, or docs �not answcr within 30 duys a noticc from [.ender that thc insurance cnrcier has offered to settle a claim,then
<br /> Lendcr mny wllect the insurancc proce,eds. Lcnder may use the proceecl� to repair or r�;store the Propetty or to pay sums
<br /> secural by this Secudty Instrument,whether or not then due.The 30-day period will begin when diQ notice is�i ver:
<br /> Unless Lender and Burrower otherwise agrec in writtng. any application of proceeds to principai sh�;.i zwc ex��e;ui or
<br /> � postpon� the due datc of the monthly payments rcferred to in paragraphs 1 and 2 or change thc atnauat ok tS-,� pa��r�er.ts. xf
<br /> , under paragraph 21 the Propeny is acquired by Lender, Borrower's right to any insurance policies dnd proceeds resulting:i�r.n
<br /> _ Jlmage to the Propeny prior tu the ucquisition shall pnss to Lender to the extent af the sums secured by thiy Security Instn:ment
<br /> immediately priar to the acquisition.
<br /> ' 6.Occupancy,Preservatlon,Maintenance and F'�v,iaL�ion of the Property;Borrower's Loan Applic�t[un;I,easefwlds.
<br /> ��, 9orrower shal I occupy, ectablish,and use the Property as Borrower's,orincipal residence witBin sixty days aRer the execu tior.of
<br /> ' this Security Instrume�yt and shall continue t�occupy the Property a5�3orrower's principul residence for at teast ane year after
<br /> the Jate of occup:tncy, unless i.ender otherwise agrees in writing, which consent shall not be un�easonabfy withheld, or unloss
<br /> exienuating circumstances cxist which are beyond Borro�ver's control. Bonower shall not destroy, dahiage or impair the
<br /> : Property, allo+v tlie Property to deteriorate, or commit wastc on thc Property. Borrower shall be in defa�lt if any fo-feiture
<br /> . action or procceding, whether civil ur ciiminal, is begun thut in Lender's good faith judgmertt couid r:s�:t in forfeitu�e of thc
<br /> ' Property or othcrwise matcrially impair thc licn creatcci by this Security Instrument or Lender's seccriry inter.�t.Borrowe:may
<br /> cure such a default and reinstate,as provided in paragraph 1R,by cuusing the action or proce��d�ne t� be d;sniiswd with a ruling
<br /> thnt, in Lender's good faith Jetcrmination, precludes forfeiturc of the Borrowcr's interest in the Property aa� uther�haterial
<br /> impairmcnt of the licn cre:itcd by this Security Instrument or Lcndcr's security interest. Borrower shall a�so t►et in dcfault if
<br /> � Borrower,during thc loan applicutian process,gttve materially fulsc or inaccurate infunnation or statements[o[.ender(or failcd
<br /> . to provide l.ender with any material informution)in connection with ttie loan evidenced by the A'�ce, including, but not limited
<br /> . tu, reprcsentutions concerning Borrower's occupancy of the Property as a principal rcsidence.if this Security Instrument is on a
<br /> � Icaschold, Eiorrower shadl comply wtth sll thc provisians of thc lexsc. If Borrower acquires fce tide to thc Property, the
<br /> . lcaschold and thc fcc titic shall not merge unless L.cnder agrccs ro the merger in wi•itin�.
<br /> 7.i'rotectton of Lendrr's Rlghts in the Pruperty. If Borrower t:iils to pertomi the covenants and agreements contained in
<br /> this Security instrunxnt,or tlurc iy a legal proce�ding that may significantly at'fect Lender'� rights in the Properiy (such as a
<br /> proceeding in bankruotcy,probate, for condemnation or forf'eiturG or to enforce luws or regulations), then Lender may do and
<br /> �ay f'or whatevcr is ncccssury to protcct thc value of the Propcny �nd Lendcr's rights in thc Propr.rty. Lcnder's uctians may
<br /> mclude paying uny sums sccurcd by a lirn which has priority civcr this Securiry Instrument, appcaring in court, paying
<br /> . rcason��blc attomeys'fecs and entcrin�;on thc Propcny to mukc rcpairs. Althou�h[.endcr n�av take actinn under thic n:,rauranB
<br /> 7. Lcudcr dces not havc�a do so. - - . " .
<br /> , Any umounts disbwsul by Lendcr under thix pa�agraph 7 �hull become additionul debt of Borrower suured by this
<br /> Sccuriry Instrumcnt. Unlcss Borrower i�nd C.cnder agrc�: to othcr tcrms of payment.thcse ama�:::s shall bear intcrest from thc
<br /> datc of'disburscmcnt at lhc Notc ratc and shall bc payablc, with interest, upon noticc from ix��ilcr to Borrowcr rco,;:esting
<br /> pxyment.
<br /> 8.Murtgege Insurnnre.If[.endcr requircd mortgagc insuranrc u.ti i�ronditiun uf m:�king ttic I«un s��:u:�l by ttlis 3eccrity
<br /> h��trument, Borrower shall p�y thc prcmiums rcqui��ed ro muintain thc mortgage insurancc in effert. If. i'or any rcason, the
<br /> mortgage insur.mce covcribc rcyuircd by I.ender lapses or ccuties te�be in cffi;ct, Borri��ver yliall pciy the prcmiums rcyuircd to
<br /> obtain corcru�e substantially equiti�.dent to the mart�agc insurancc previously in effect,at s tost substanti;tlly eyuivalent tu tl�e °
<br /> cost to F�otrywer of the murtgage intiurunce: previously in effrct, frum an aR��rnate rnui�tgage insur�:r approvcd by [.�ender. If
<br /> • aono z oi a Form 302� 9/90
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